News
UK: OGA seeks to cut decommissioning costs by at least 35 pct
UK’s industry regulator Oil and Gas Authority (OGA) has provided a new cost estimate for offshore oil and gas decommissioning in the UK Continental Shelf as it seeks to bring it down by at least 35 percent. The regulator on Thursday published a report which provides the new cost estimate. With a sha
Exxon, Hess, Statoil take Suriname offshore blocks
ExxonMobil, Hess and Statoil consortium has been awarded a production sharing contract for Block 59 offshore Suriname, by the country’s energy agency Staatsolie. At the same time, Staatsolie said, an agreement was reached with Statoil for Block 60. The blocks were awarded to the consortium and Stato
Searcher Seismic completes 2D seismic survey off Papua New Guinea
Searcher Seismic, an independent seismic data acquisition company, has completed the Solomon Sea broadband 2D seismic survey off Papua New Guinea. The survey, done in cooperation with BGP and comprising of around 3,600 kilometers, spans the underexplored Cape Vogel and Bougainville Basins as well as
Exmar secures $200 million for Caribbean FLNG
Belgium’s Exmar, the Nicolas Savery-led shipowner has secured a $200 million financing for its Caribbean FLNG currently located at the Wison Offshore & Marine’s yard in Nantong, China. The proceeds from the financing will be used to pay the last instalment to the shipyard. Exmar said in a statement
Fluxys merges with its finance unit
Belgium-based LNG operator Fluxys has merged with its wholly owned subsidiary Fluxys Finance that was in charge of the centralised management of cash funds and financing within the group. These activities will now be carried out by Fluxys itself. The transaction simplifies Fluxys’ organisational str
ConocoPhillips to sell Barnett shale assets
Houston-based energy giant and LNG player ConocoPhillips said it would sell its assets in the Barnett shale field in Texas to a unit of Miller Thomson & Partners for about $305 million. Full-year 2016 production associated with the Barnett assets was 11,000 barrels of oil equivalent per day (boed),
Marine Energy Event program announced
The Marine Energy Event 2017, organized in cooperation with the Dutch Energy from Water Association (EWA), offers delegates an insight in the latest developments in marine energy in the field of tidal and wave energy, salinity power and OTEC with a focus on bankable projects. The marine energy indus
Advertorial: ESS Technology Nets Another Patent Award
By Emma Anderson, Ecosse Subsea Ecosse Subsea Systems Ltd. (ESS), based in Aberdeenshire, are delighted to announce the award of U.S.Pat.Nos. 9422690 and 9657455 for their SUST (SCAR Uninterrupted Soils Testing) plough technology. The ESS Over-the Stern Plough System is protected under patents pendi
Advertorial: ESS Technology Nets Another Patent Award
By Emma Anderson, Ecosse Subsea Ecosse Subsea Systems Ltd. (ESS), based in Aberdeenshire, are delighted to announce the award of U.S.Pat.Nos. 9422690 and 9657455 for their SUST (SCAR Uninterrupted Soils Testing) plough technology. The ESS Over-the Stern Plough System is protected under patents pendi
Tullow cuts debt, raises profit under new CEO but weak oil prices weigh
By Karolin Schaps LONDON (Reuters) – Africa-focused oil explorer Tullow Oil <TLW.L> reduced debt in the first half of the year and reported a rise in gross profit under new CEO Paul McDade but a recent drop in oil prices means the company’s bottom line remains under threat. Tullow has been under pre
ExxonMobil, Eagle LNG and Crowley join forces on LNG fuel
ExxonMobil, Eagle LNG Partners and Crowley have signed an agreement to collaborate on the development of liquefied natural gas (LNG) as a marine fuel. The goal is to establish the storage and technical support necessary to provide safe, reliable LNG delivery for vessel operators bunkering in North A
Qatar Crisis Hits Stalemate
The economic and political sanctions imposed on Qatar earlier this month could protract indefinitely, BBC News reports citing a UAE government spokesman, according to whom Qatar seems to be unwilling to comply with a list of demands set by a number of Arab countries. Namely, after Saudi Arabia, the
Nordsee One Turbines Halfway There
The rotor for the 27th wind turbine was successfully installed last week at the Nordsee One construction site, marking the halfway point for turbine installation at the 332 MW wind farm.
Nordsee One Turbines Halfway There
The rotor for the 27th wind turbine was successfully installed last week at the Nordsee One construction site, marking the halfway point for turbine installation at the 332 MW wind farm.