Equinor’s proposed development of Phase 3 of the Troll field in the Norwegian part of the North Sea has been approved. The Norwegian oil giant will with its partners invest NOK 7.8 billion (USD 914 million) in the project which is expected to come online…
The Organisation of Petroleum Exporting Countries concluded a two-day meeting in Vienna on the 7th December with an agreement to cut 800,000 b/d of production, while ten non-OPEC countries agreed to cut 400,000 b/d. The countries of Iran, Libya, and Venezuela were exempted from…
Chevron Corporation has announced a 2019 organic capital and exploratory spending programme of US$20 billion. “Our 2019 budget supports a robust portfolio of upstream and downstream investments, highlighted by our world-class Permian Basin position, additional shale and tight development in other basins and our…
London Market needs EU equivalence regime change in Brexit deal: LMG The UK government has recognised that the London Market does need to see significant changes to the EU equivalence regime but there are no equivalence frameworks for insurers under Solvency II or for brokers…
Well-Centric, a FrontRow Energy Technology Group company, has announced the acquisition of Simmons Edeco Europe. The deal will create the UK’s largest independent supplier of well integrity services, Well-Centric highlighted in a statement posted on the company’s website on the 5th December. The…
Malaysia’s Sapura Energy and India’s Afcons have won a contract with India’s oil and gas company ONGC to build offshore platform and living quarters. Sapura Energy said on the 6th December that the contract was worth three billion Malaysian rinngit, or around US$720 million. …
James Fisher Ocean Team (JFOT) has completed its first excavation for COOEC Subsea in the South China Sea and the team is gearing up for additional projects in 2019. JFOT was established to provide an enhanced service to clients in China by experts from…
Siemens and the marine arm of ST Engineering in Singapore have jointly received an order for a SCC-800 2x1C SeaFloat barge-mounted power plant from Seaboard Corporation subsidiary Transcontinental Capital Corporation (Bermuda) Ltd, an Independent Power Producer (IPP) with operation in Dominican Republic. The project…
Maersk Drilling and Seapulse have signed a Master Alliance Agreement (‘MAA’) under which Maersk Drilling will provide fully integrated services, including provision of drilling rigs, related drilling services, well services, and other goods and services, for a global offshore oil & gas exploration drilling programme…
The EU is facing the perfect storm of dwindling local supply, rising demand and increased dependence on Russian state-owned Gazprom for its supply of natural gas, as analysts and observers mull what, if any governmental action, must be taken. At issue is mainly how…
