One quarter of the global floater segment could be scrapped. That’s according to Rystad Energy, which outlined that restructuring in the “already stretched” offshore drilling market will accelerate. An evaluation of active rigs in the global floater fleet revealed that up to 59…
Oil and gas company Neptune Energy expects its full-year production to be impacted by the closure of the Equinor-operated Hammerfest LNG plant following a recent fire incident while its losses of revenues will be recovered through insurance claims. The Hammerfest LNG plant processes gas…
Tlou Energy an ASX, AIM and BSE listed company focused on delivering power in Botswana and southern Africa through the exploration and development of gas and solar power, is seeking funding for development of the Lesedi power project. Key Points Project Finance negotiations…
GE will supply its renewable steam power technology for a new waste-to-energy (WtE) plant located in East Rockingham, Western Australia. In a deal signed with ACCIONA, who, together with Hitachi Zosen Inova (HZI) have formed the EPC Consortium to engineer, procure and construct the…
Heerema’s semi-submersible crane vessel Sleipnir has installed Dana Petroleum’s P11-Unity platform in block P11b in the Dutch North Sea. At 395 metric tons (435 tons), this is said to be one of the world’s smallest platforms. Heerema was contracted for the transportation and…
Oil major BP has started gas production from its latest development offshore Egypt – the Qattameya gas field in the North Damietta offshore concession. Through BP’s joint venture, Pharaonic Petroleum Company (PhPC), the Qattameya field has been developed through a one-well subsea development and…
Libya is set to restart the last of its major oil fields following a ceasefire in its civil war, a milestone for the OPEC member that’s been largely offline since January. Oil dropped after the state energy firm lifted force majeure on exports from El Feel on the…
Borders & Southern Petroleum has been granted an extension to its Falkland Islands licences. The Company’s Production Licences, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, were due to expire on 31 October this year….
A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around US$50/bbl, down around 10% over the last two years, and 35% since 2014. This means that oil is much cheaper…
Landsvirkjun, the National Power Company of Iceland, and the Port of Rotterdam have signed a Memorandum of Understanding (“MoU”) to perform a pre-feasibility study of exporting green hydrogen from Iceland to Rotterdam. According to the MoU, the parties also agree to the exchange of…
