Fossil Energy
Solstad agrees extended suspension of payments amid restructuring
Norwegian offshore vessel owner Solstad Offshore (SOFF) needs more time to complete its restructuring and has therefore agreed an extension of suspension and deferrals of payments under its financing agreements. Late last year Solstad started discussions with its financial creditors and other stakeh
Borr Drilling adds $155 million to backlog with new contracts
Borr Drilling has been awarded three new contracts and two extensions for its rig fleet, adding about $155 million to its backlog.
Solstad and Ocean Yield extend standstill for anchor handling duo
Ocean Yield, a ship-owning company with investments in vessels on long-term charters, has agreed an extension of the standstill agreement with Solstad Offshore for the Far Senator and Far Statesman anchor handlers.
Shell picks OneSubsea for Ormen Lange subsea compression system
Schlumberger’s subsea systems division OneSubsea has signed a frame agreement with Norske Shell to supply a subsea multiphase compression system for the large Ormen Lange gas field in the Norwegian Sea.
Solstad sheds construction support vessel
Norwegian vessel owner Solstad Offshore has sold one of its construction support vessels (CSV) to an undisclosed buyer.
Noble in talks to buy Shell’s interest in Bully joint ventures
Offshore drilling contractor Noble Corporation is in discussions with Shell to receive payout of the Noble Bully II contract and to acquire Shell’s interest in the Bully joint ventures.
Kvaerner welcomes Hywind Tampen award as strategic breakthrough
Kvaerner has been awarded one of the key contracts for Equinor’s Hywind Tampen floating offshore wind project, which will power oil and gas platforms in the North Sea.
Serica Energy charters Maersk jack-up for Columbus drilling
Maersk Drilling has entered into a contract with Serica Energy to drill a subsea development well in the North Sea
Repsol 3Q profit falls. Oil production rises
Spanish oil company Repsol reported a drop in 3Q 2019 profit. Net profit for the quarter was 333 million euros, a 46,7% drop from 625 million euros in 3Q 2018. Adjusted net income in the third quarter was €522 million, 11% lower year-on-year.
Shell 3Q CCS earnings dip 15%
Oil and gas giant Shell reported a 15 percent drop in the current cost of supply earnings (CCS) in the third quarter of 2019.
Global E&C selected as construction contractor for EnQuest’s UK assets
EPC contractor Global E&C has been awarded a contract as the default construction contractor for several EnQuest’s UK offshore assets.
Equinor awards key contracts for wind project to power oil and gas platforms
Equinor has signed contracts totalling around NOK 3.3 billion for the Hywind Tampen floating offshore wind farm development. The project will supply electrical power to the nearby oil and gas platforms Gullfaks A, B, C and Snorre A and B.
PGNiG completes Duva field entry
PGNiG Upstream Norway, a Norwegian subsidiary of the Polish state-owned oil company PGNiG, has completed the acquisition of a 20 percent stake in the Duva field from Wellesley Petroleum.
Solstad platform supplier to support Wintershall Dea in Norway
German oil and gas giant Wintershall Dea has awarded a medium-term contract to Solstad Offshore for support of its operations in Norway.