Thursday, May 23, 2019

North Sea News

Perenco Renews North Sea Contract

Image: Perenco

Anglo-French oil and gas company Perenco has expanded the scope of its support contract with Servelec Controls, the control, safety and information systems provider, in the southern…

North Sea Oil Production May Go Down

Graph: Rystad Energy

On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling…

DNO Completes $400mln Bond Placement

Image: DNO ASA

The Norwegian oil and gas operator focused on the Middle East and the North Sea, DNO ASA said it has completed the private placement of USD 400 million of new, five-year senior unsecured…

Oil Price Risks Rise

Image: Saudi Aramco

Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, said the energy research firm Rystad Energy.Two Saudi Arabian oil…

Vattenfall Starts Hollandse Kust Zuid

The Hollandse Kust Zuid wind farm. Image: Vattenfall

Development of the first unsubsidized offshore wind farm is well underway off the Dutch coast after bouts of bad weather delayed the project earlier this year, said Swedish power company…

From KPMG: Visions of Cheese

Geoff Jacobs (Photo: KPMG)

Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions…

O&G Skills Requirements Shifting

(Photo: OPITO)

Action is needed now to retain, retrain, recruit and renew the workforce in a rapidly changing UK oil and gas sector.These are the findings presented by energy skills body OPITO, who…

Equinor Q1 Beats Forecast

The Johan Sverdrup oilfield in the North Sea is on track to start production in November (Photo: Arne Reidar Mortensen / Equinor)

Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November

Craig International Wins Spirit Energy Contract

Craig International joint managing director Jill Macdonald (Photo: Craig International)

Craig International has secured a contract with Spirit Energy, which is potentially worth £21 million ($27.4 million) over seven years, the oilfield procurement specialist announced…

Marathon Oil Beats Profit Estimates

Marathon Oil Corp beat analysts' estimates for first-quarter profit on Wednesday, boosted by higher production and lower costs at its U.S. shale assets in the Bakken and Northern Delaware…

Apache's Adjusted Profit Falls

(Photo: Apache)

U.S.

Orsted Reports Positive Start to 2019

(Photo: Orsted)

Orsted on Wednesday reported higher first-quarter earnings from its offshore wind farms, in a positive sign for the Danish company's focus on renewables after selling its oil and gas…

Rhenus Commences Borssele Alpha Supply

Image: Rhenus Group

Rhenus Offshore Logistics has completed its first supply trip to the 700MW Borssele Alpha offshore platform  in the Dutch North Sea.Rhenus has taken over the complete supply logistics for its customer…

EU Funding for Polish LNG Terminal Expansion

Pic: European Commission

The Polish government and the Polskie LNG company signed a grant agreement on 24 April for the extension of the Liquefied Natural Gas (LNG) terminal in Świnoujście, in north-western…

Delek Nearing Deal for Chevron's North Sea Fields

(Photo: Chevron)

Israel's Delek Group is close to clinching Chevron's oil and gas fields in the British North Sea, which have a price tag of around $2 billion, sources familiar with the matter told Reuters.Delek…

Archer Wins Contract from Chevron

Captain (Photo: Chevron)

Archer announced Tuesday it has been awarded a contract to provide platform drilling services for Chevron in the UK sector of the North Sea.Under the deal, Archer it will provide offshore…

Chrysaor to Buy ConocoPhillips’ UK Assets

Judy in the J-Area (Photo: ConocoPhillips)

Chrysaor has reached a deal to acquire ConocoPhillips’ oil and gas exploration and production assets in the UK for $2.675 billion, the companies announced on Thursday.Full-year 2018…

Floatel Gets Martin Linge Extension

Floatel Superior. Image: Floatel International Group

Swedish contractor Floatel International has received a new extension from Equinor for its accommodation unit Floatel Superior at the Martin Linge Field Development in Norway’s North…

The Decommissioning, Marine Life Connection

A common ling, Molva molva, swims amongst an almost coral reef-like habitat created by oil and gas infrastructure. Image from Insite.

Data sharing and better understanding of how marine life interacts with manmade structures is the target for the next phase of the Insite program.What to do with offshore structures is a sticky problem for oil companies…

EnQuest to Focus on Cutting Debt as Profits Jump

(Photo: EnQuest)

North Sea focused oil producer EnQuest on Thursday committed to continue efforts to cut its $1.77 billion debt this year after reporting a jump in full-year profits on the back of increased…