Fossil Energy
Sapura bags over $457 million in new deals
Sapura Energy subsidiaries and joint venture have been awarded contracts and contract extension with a combined value of about $457.5 million.
BW Offshore braces for FPSO impairments
FPSO operator BW Offshore has decided to record an impairment to the book value of three FPSOs, amounting to $59.6 million, in the fourth quarter of 2020 amid continued uncertainty regarding redeployment. The three FPSOs are Berge Helene, BW Cidade de São Vicente, and Espoir Ivoirien, BW Offshore sa
Equinor sinks deeper into the red amid market turmoil
Norwegian oil and gas giant Equinor saw a massive increase in its quarterly net loss amid market turmoil caused by the coronavirus crisis.
PTTEP makes new gas discovery off Malaysia
Thailand’s PTT Exploration & Production (PTTEP) has made a gas discovery from the Lang Lebah-2 appraisal well off the coast of Sarawak, Malaysia.
LLOG, Eni sign infrastructure agreement for Taggart development
LLOG Exploration Offshore and Italian oil major Eni have signed an infrastructure agreement for subsea infrastructure in the deepwater Gulf of Mexico.
ADNOC awards offshore block to Japan’s Cosmo
ADNOC has signed an exploration concession agreement, awarding the exploration rights for Abu Dhabi’s Offshore Block 4 to Japan’s Cosmo Energy.
MOL hits dust in North Sea well
Oil and gas company MOL Norge has drilled a dry well located at Mandal High in the southern North Sea offshore Norway.
NRGI: State oil firms could waste $400 billion as energy shift accelerates
State-owned oil companies could waste around $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, NRGI said in its latest research.
Deep-water Angola survey work for Magseis Fairfield
Magseis Fairfield has won a contract for a deep-water ocean bottom node baseline 3D survey offshore Angola for an undisclosed energy major. According to the Oslo-listed company, the project should start in Q2 2021 and run for approximately three months. “Our ocean bottom node technology has delivere
Tullow Oil offloads West African assets to Panoro
Tullow Oil has signed two separate sale and purchase agreements with Panoro Energy for its assets in Equatorial Guinea and the Dussafu asset in Gabon.
Apache names former BP deputy CEO as board member
Oil and gas company Apache Corporation has appointed a new member to the company’s board of directors.
Sapura’s JV with Seadrill not impacted by Chapter 11 cases
Sapura Energy has clarified that its joint venture with Seadrill is not impacted by the recent Chapter 11 cases filed by several Seadrill subsidiaries.
Kentech to buy SNC-Lavalin’s oil and gas business in bid to address energy transition
Kentech has made a move to buy SNC-Lavalin’s oil and gas business in an effort to accelerate its growth strategy and address the energy transition.
Aker BP man to join OKEA as new CEO
Norwegian oil and gas company OKEA has appointed Svein J. Liknes as its new CEO, starting from June 2021.