Post Tagged with: "offshore"

Source: CNBC

Details released of a huge offshore wind turbine that can power 18,000 homes per year

CNBC


Siemens Gamesa Renewable Energy (SGRE) has released details of a 14-megawatt (MW) offshore wind turbine, in the latest example of how technology in the sector is increasing in scale.

With 108-meter-long blades and a rotor diameter of 222 meters, …

In addition to the emissions reductions target, Maersk Drilling’s sustainability strategy contains initiatives within a range of areas, including a target of increasing the share of onshore female leaders to 30 per cent across all leadership levels.

Maersk Drilling in new round of layoffs

Offshore Energy


Offshore drilling company Maersk Drilling has decided to take another swing with the job axe and lay off even more staff.

Maersk Drilling said on Thursday that the new wave of layoffs, as well as a revision of …

Offshore drillers will be living on the edge, Rystad analysis shows a combined revenue loss of an estimated $3 billion

Offshore drillers will be living on the edge, Rystad analysis shows a combined revenue loss of an estimated $3 billion

Offshore Energy


The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling, in particular, is among the most affected industry segments, according to energy intelligence firm Rystad Energy.

April 11, 2020 - 11:10 am Crude Oil News, International, Offshore
Offshore workforce cut by 40% due to Covid-19.

Almost 40% of the North Sea workforce has been cut as operators attempt to wrestle with the growing coronavirus crisis.

EnergyVoice

 


Trevor Stapleton, Oil and Gas UK’s HSE director, said more than 4,000 crew and staff have been stood down over the last few weeks as offshore firms look to move to a skeleton staff. The North Sea averaged …

March 27, 2020 - 6:53 am Crude Oil News, Energy News, International, Offshore
Photo: TechnipFMC

French half of TechnipFMC split reveals new company name

Houston Chronicle


Anticipated split will create two publicly traded companies.

The French half of Houston and Paris oil field service company TechnipFMC has revealed its new company name months ahead of an anticipated split that will create two publicly traded …

October 30, 2019 - 7:15 am Closing Bell Story‎, Energy News, LNG, Offshore, Oilfield Services
Courtesy of Enbridge

Oil Services Firm TechnipFMC to Split Into Two Publicly Traded Companies

From Reuters


Franco-American oil services firm TechnipFMC Plc (FTI.N) said on Monday it would spin off its engineering and construction operations into a separate company, leaving it as a technology-focused equipment supplier to oil and gas companies.

TechnipFMC, which had …

Source: Tyler Losier

Occidental Finance Chief Pledges to Act Quickly to Pare Acquisition Debt

From Reuters


Occidental Petroleum Corp (OXY.N) expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company’s finance chief said on Monday.

Cedric Burgher, in his first public remarks since the …

Halliburton Lands Nine Contracts for Offshore Project in West Africa

Halliburton Lands Nine Contracts for Offshore Project in West Africa

From The Houston Chronicle


Houston oilfield service company Halliburton has landed nine contracts to drill and complete a series of wells off the coast in West Africa.

Australian exploration and production company Woodside Energy awarded the contracts to Halliburton as …

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

From Reuters


Brazil’s Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part …

Source: Borr Drilling

Borr Drilling Awarded Contract by Pemex

By Tyler Losier, Energy Reporter, Oil & Gas 360

Borr Drilling is awarded its fourth Mexican contract in less than nine months
Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has been awarded a contract by

Source: Amplify Energy

Shareholders of Amplify Energy and Midstates Petroleum Greenlight Merger

By Tyler Losier, Energy Reporter, Oil & Gas 360

Amplify Energy and Midstates Petroleum to merge after receiving shareholder approval
Amplify Energy Corporation (stock ticker: AMPY), a Houston-based independent E&P, has received the necessary shareholder approval for its previously announced

Qatar Petroleum Buys Stake in Total’s Guyana Assets

Qatar Petroleum Buys Stake in Total’s Guyana Assets

From Reuters


Qatar Petroleum said on Monday it had agreed a deal with Total (TOTF.PA) to acquire a stake in the French energy giant’s two oil and gas blocks offshore Guyana.

Qatar Petroleum said it will hold 40% …

Hornbeck Enters Into New Senior Credit Facility

Hornbeck Enters Into New Senior Credit Facility

Hornbeck Offshore Announces New Senior Credit Facility

Source: Kuwait Oil Company

Kuwait Teams Up with Halliburton

By Tyler Losier, Energy Reporter, Oil & Gas 360

First offshore project for Kuwait since early 1980s
Kuwait Oil Company (KOC) and Halliburton (stock ticker: HAL) have signed an integrated offshore drilling services contract for six high-pressure, high-temperature exploration wells

WoodMac: Onshore and Offshore Oil Now Have More in Common

WoodMac: Onshore and Offshore Oil Now Have More in Common

From The Houston Chronicle

After much of the energy sector abandoned deepwater drilling to focus on quicker and cheaper shale oil, the offshore and onshore industries suddenly have much more in common than they once did.

The two sectors are …

New JV in the Gulf of Mexico

New JV in the Gulf of Mexico

By Tyler Losier, Energy Reporter, Oil & Gas 360

GulfSlope Energy teams up with unnamed private company
Houston-based GulfSlope Energy (stock ticker: GSPE) has signed a letter of intent to form a joint venture with an unnamed, privately held oil

Exxon Initiates New PSA, Seeks to Increase Production from Angola’s Block 15

Exxon Initiates New PSA, Seeks to Increase Production from Angola’s Block 15

By Tyler Losier, Energy Reporter, Oil & Gas 360

Partnership seeks to redevelop offshore asset
ExxonMobil (stock ticker: XOM) has entered into a production sharing agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels in order to

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

From S&P Global Platts

Houston — Gulf of Mexico operator Talos Energy may be interested in buying some of Anadarko Petroleum’s deepwater Gulf of Mexico assets that Occidental Petroleum will acquire in its pending $57 billion purchase of that company, …

Shell Starts Production at Appomattox

Shell Starts Production at Appomattox

By Tyler Losier, Energy Reporter, Oil & Gas 360

 
Deeper water targets available with new Gulf of Mexico platform
Royal Dutch Shell plc (stock ticker: RDS.A), through its subsidiary Shell Offshore Inc., brought its Appomattox floating production system online

Pakistan Stops Offshore Drilling: No Gas, No Oil Found

Pakistan Stops Offshore Drilling: No Gas, No Oil Found

Associated Press•May 20, 2019

ISLAMABAD (AP) — Pakistan’s ministry of petroleum says authorities are ending offshore drilling off the Karachi coast in the Arabian Sea after no reservoirs of oil or gas were found.

The news was a setback …

Trump’s Offshore Oil-Drilling Plan Sidelined Indefinitely

Trump’s Offshore Oil-Drilling Plan Sidelined Indefinitely

From The Wall Street Journal

The Trump administration’s proposal to vastly expand offshore oil and gas drilling has been sidelined indefinitely as the Interior Department grapples with a recent court decision that blocks Arctic drilling, according to Interior Secretary …

Exxon Adds 7 Million Net Acres Offshore Namibia

Exxon Adds 7 Million Net Acres Offshore Namibia

Exploration activities to commence in 2019

ExxonMobil reported it will increase its exploration acreage in Namibia with the addition of approximately 7 million net acres (28,000 square kilometers) following the signing of an agreement with the government of Namibia and …

Johan Sverdrup

Source: Total

Offshore Drilling Makes a Comeback After Years in Shale’s Shadow

From Bloomberg

Offshore is ready for the limelight again.

After years in the shadow of the U.S. shale patch, deep-water explorers from Royal Dutch Shell Plc to Talos Energy Inc., along with contractors such as Ensco Plc and TechnipFMC

March 28, 2019 - 5:18 pm Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Winners and Losers in Big Oil’s Offshore Spending Revival

Winners and Losers in Big Oil’s Offshore Spending Revival

From Bloomberg

After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps …

January 11, 2019 - 12:23 pm Closing Bell Story‎, Energy News, Offshore
International Offshore Drilling Surged in December

International Offshore Drilling Surged in December

28 offshore rigs come online, 23% of activity
International drilling activity rose sharply in December, reaching levels not seen since the beginning of 2016, according to Baker Hughes.

A net 34 rigs began drilling internationally last month, meaning there are

Dismantling the Oil Industry: Rough North Sea Waters Test New Ideas

Dismantling the Oil Industry: Rough North Sea Waters Test New Ideas

From Reuters

Scottish marine salvage group Ardent is adapting the tanks it used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms.

It is one of several companies …

November 28, 2018 - 10:58 am Closing Bell Story‎, Energy News, Offshore
Offshore: Guyana Opportunity Could Be Transformative

Offshore: Guyana Opportunity Could Be Transformative

Exxon increases Stabroek discovered recoverable resource estimate to 4 billion BOE; sees 750 MBOEPD from it by 2025

ExxonMobil (ticker: XOM) and Hess Corporation (ticker: HES) announced today in separate news releases a significant increase in the estimate of the …

Transocean Scores 955 Days from Chevron Australia for Ultra-Deepwater Semisubmersible Rig in 2019: Adds $158 Million to Backlog

Transocean Scores 955 Days from Chevron Australia for Ultra-Deepwater Semisubmersible Rig in 2019: Adds $158 Million to Backlog

Transocean Ltd. (NYSE:RIG) announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia. The estimated firm contract backlog, excluding integrated services, …

July 17, 2018 - 1:44 pm Closing Bell Story‎, Energy News, Offshore
Consolidation in the Wind as Offshore Recovery Advances

Consolidation in the Wind as Offshore Recovery Advances

Two offshore maritime providers to become $1.25 billion company

Tidewater Inc. (NYSE: TDW) and GulfMark Offshore, Inc. (NYSE: GLF) offshore support vessel companies will combine as recovery gains traction, creating a combined company market value of approximately $1.25 billion, Tidewater …

Offshore Spending is Up, Is an Offshore Recovery Next?

Offshore Spending is Up, Is an Offshore Recovery Next?

From WorkBoat – G. Allen Brooks

Rystad Energy reported recently that oil industry capital spending projects are finally moving ahead. That’s good news for the oilfield service industry. Importantly, the data shows deepwater projects are a significant component of the …

July 11, 2018 - 6:16 am Closing Bell Story‎, Energy News, Offshore