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Fossil Energy

ADNOC hands out $1.5 billion in new deals to progress mega gas project

ADNOC has awarded two engineering, procurement, and construction (contracts totalling $1.46 billion for the Dalma Gas Development Project.

about 4 years ago

Falling costs make new oil cheaper, Rystad

Fossil Energy

Climate policies should focus on demand as falling costs make new oil cheaper to produce, Rystad says

An analysis of the annual cost of supply by Rystad Energy has revealed that costs within the upstream sector have come down considerably in 2021.

about 4 years ago

COp26 - Courtesy of Extinction Rebellion

Fossil Energy

COP26 ends with ‘weak and compromised’ line on phasing down fossil fuels

After two weeks of intense negotiations, COP26 closed over the weekend and the final outcome is a document known as the Glasgow Climate Pact.

about 4 years ago

Fossil Energy

In focus: COP26 shows world a glimpse of how it could be

In this week’s In Focus, we put spotlight on COP26 and energy transition updates which include biggest polluters pledging to joint action against climate change, oil majors joining forces for decarbonisation of energy and industry, and governments proposing phasing out coal and fossil fuel subsidies

about 4 years ago

Fossil Energy

GMS nets two contract extensions with higher rates

GMS has been awarded two contract extensions with increased day rates for its small-size class and mid-size class vessels.

about 4 years ago

Fossil Energy

Shelf Drilling expects improvement in global jack-up demand and pricing

Shelf Drilling has revealed that 27 of its jack-up rigs are under contract and it expects to see an improvement in the global jack-up demand.

about 4 years ago

Fossil Energy

Two Saudi players team up, aiming to be one of the world’s most competitive OSV builders

IMI has signed a long-term agreement with Zamil Offshore for the delivery of OSV building and MRO services in Saudi Arabia.

about 4 years ago

Fossil Energy

Fatal accident in waters off Libya after workers plunged into sea

An accident during vessel decommissioning operations in waters offshore Libya has resulted in the deaths of at least three Tunisian workers.

about 4 years ago

Nova Innovation’s M100-D tidal energy turbine (Courtesy of Nova Innovation)

Fossil Energy

In focus: the world gathers to curb climate change

During the COP26 conference, nations are expected to speak out their ambition towards mitigating climate change. These pledges will have an effect on the offshore energy and maritime industry.

about 5 years ago

Prospector I jack-up rig - Borr Drilling

Fossil Energy

With 17 rigs now booked, Borr hopes to fully contract fleet by 2022

Borr Drilling now has 17 rigs contracted or committed amid strong demand for offshore rigs and is on track to fully contract its fleet by 2022.

about 5 years ago

Fossil Energy

Noble sells four Saudi rigs to ADES

Offshore drilling contractor Noble Corporation has completed the sale of four jack-up rigs to a subsidiary of ADES International Holding.

about 5 years ago

A visualization of a floating offshore wind farm connected to the Draugen platform.

Fossil Energy

In focus: Ships, oil & gas platforms to get greener by the day with clean fuels and renewables

Massive investment announcements and ambitious new developments in the energy and shipping sectors marked this week on Offshore Energy (well, together with our Offshore Energy Exhibition & Conference), as work on the global energy transition is moving forward through numerous new initiatives.

about 5 years ago

Fossil Energy

Lamprell taps banks for $45 million loan to build two jack-ups

Lamprell has signed a $45 million revolving trade loan facility with two banks to cover the costs for the building of two IMI jack-up rigs.

about 5 years ago

Fossil Energy

Aramco accepts climate change challenge and joins net-zero by 2050 race

Aramco has revealed its goal to achieve net-zero for Scope 1 and Scope 2 greenhouse gas (GHG) emissions across its operations by 2050.

about 5 years ago