Latest News

CfD Round 3 in 2019 delivers record low price for offshore wind

The third round of UK’s Third Contracts for Difference (CfD) auction which took place in September of 2019 has cleared at the record low price of £39.650/MWh for Delivery Year 2023/24 and £41.611/MWh in 2024/25.The Contracts were made up of Six offshore wind, four remote islands wind and two Advanced…


Hellenic Cables to supply Inter-Array Cables for Mayflower Wind project

Hellenic Cables announced today an agreement with Semco Maritime A/S for the supply of inter-array cables for the Mayflower Wind project, a joint venture of Shell New Energies US LLC and EDPR Offshore North America LLC. The offshore wind project was selected by the Commonwealth of Massachusetts to supply 804…


Vattenfall and TuuliWatti sign wind power balancing services agreement

Vattenfall and the largest Finnish wind power producer TuuliWatti have signed a five-year energy services agreement that includes TuuliWatti’s total wind power production in Finland.Starting on January 1st, 2020, the agreement entails forecasting, trading and balancing services for TuuliWatti’s total wind power production in Finland. Currently, the company’s wind power…


International Energy Agency : Oil and gas industry needs to step up climate efforts now

Oil and gas companies are facing a critical challenge as the world increasingly shifts towards clean energy transitions. Fossil fuels drive the companies’ near-term returns, but failure to address growing calls to reduce greenhouse gas emissions could threaten their long-term social acceptability and profitability.The oil and gas industry now needs…


Eni and ADNOC sign a Memorandum of Understanding on joint research activities on sustainable energy for the future

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Abu Dhabi National Oil Company (ADNOC) Group CEO, and Eni’s Chief Executive Officer, Claudio Descalzi, signed today a Memorandum of Understanding for the joint development of research initiatives aimed at creating advanced technological solutions for the reduction, capture,…


Polarcus Commences Cygnus Phase 3 Offshore Australia

Polarcus is pleased to announce the commencement of acquisition of the latest phase of the Cygnus regional multi-client 3D survey in the Vulcan Sub-basin, offshore north-west Australia. The 1,500 sq km Phase 3 South survey, covering the Skua, Swift and Montara area, completes over 7,200 sq km of continuous XArray™…


Africa Energy Operational Update

Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company"), an oil and gas company with exploration assets offshore South Africa and Namibia, has provided an operational update on its exploration activities. Garrett Soden, Africa Energy's President and CEO, commented, "We are excited to begin…


GMS launches Maintenance Services with associated Contract Award

GMS announces the award of a five year contract (firm period, plus options to extend) for maintenance services as an enhanced extension to an existing vessel contract. Mobilisation for the contract, with a Middle East National Oil Company, will be undertaken by a new Maintenance Services Division.During 2019, as GMS…


Sangomar Field Development FID and US$300M underwritten senior facility

FAR Limited (ASX: FAR) has taken the Final Investment Decision (“FID”) and received final credit approvals for an underwritten US$300 million senior secured reserve-based lending (“RBL”) facility for the Sangomar Field Development offshore Senegal.Final Investment DecisionFollowing approval of the Exploitation Authorisation by the Government of Senegal and signing of the…


Construction commences for Dogger Bank

Construction on the world’s largest offshore wind farm has taken place this week near the coastal village of Ulrome, East Riding of Yorkshire, England. Dogger Bank Wind Farms, a joint venture between SSE Renewables and Equinor, is made up of three offshore wind farm sites in the North Sea, totalling…


PSW Group takes over operation of EMAS-spoolbase

This week, PSW Group signed an agreement for operation of the former EMAS spoolbase located in Gulen Industrial Harbor, Western Norway. The agreement covers all activities related to the production and spooling of pipelines for offshore use. The spoolbase will be named "PSW Spoolbase".PSW Spoolbase is a state-of-the-art facility capable…


Eni starts production at Agogo oilfield, in the angolan offshore

Eni reports the start-up of its offshore Agogo oilfield, situated in the 15/06 Block in the Angolan waters. The start-up takes place just nine months after its discovery thanks to the operational synergies facilitated by the Floating Production Storage Offloading (FPSO) Ngoma, West Hub production centre, situated 15km from the…


Eidesvik Offshore ASA - Awarded Contract for PSV Viking Energy

Eidesvik Offshore ASA has been awarded a 5 year time charter contract for the PSV Viking Energy by Equinor. Which contains the option for extension in favor of Equinor. The new contract will commence in direct continuation of the current contract ending April 2020.


PGS Update on Lebanon 2nd Offshore Licensing Round

Lebanon’s Ministry of Energy and Water and the Lebanese Petroleum Administration have announced an extension of the application deadline. Companies interested in participating in the licensing round are now invited to submit their applications for Blocks 1, 2, 5, 8 and 10 before the 30th April 2020.Exploration OpportunityLebanon presents a…


Maersk Drilling awarded two-well contract extension for low-emission rig Maersk Integrator under Aker BP alliance

Maersk Drilling has secured a two-well contract extension from Aker BP for the ultra-harsh environment, low-emission jack-up rig Maersk Integrator. In direct continuation of the rig’s current workscope, Maersk Integrator will move to the Ivar Aasen field offshore Norway to drill two wells, with work expected to commence in October…


Lamprell PLC : New Contract Award

Further to the Letter of Intent ("LOI") received from the International Maritime Industries ("IMI") on 27 December 2018, Lamprell has announced the formal award for the fabrication and delivery of two jackup drilling units. The two rigs will be built collaboratively between IMI and Lamprell, with Lamprell's share of project…


TechnipFMC Reaffirms Timeline for Separation Into Two Industry-Leading, Diversified Pure-Play Companies

TechnipFMC has reaffirmed that its planned transaction to separate into two companies, TechnipFMC and Technip Energies, is well on track for completion in the first half of 2020.The Company anticipates completing the transaction in the second quarter of 2020 and intends to host a Capital Markets event in Paris for…


RockRose Energy PLC : Change of Operatorship of Brae Area

RockRose Energy plc, the independent oil and gas production and infrastructure company, announces, subject to receipt of approval by the Secretary of State, it will be passing operatorship of the Brae Areato TAQA Bratani ("TAQA"). This follows court proceedings brought by TAQA and the other joint venture partners, JX Nippon…


Fugro Wins Geotechnical Site Investigation Contract Off The Dutch Coast

Following last year’s geotechnical contract for the Hollandse Kust (west) Offshore Wind Farm Zone, Fugro has been awarded a geotechnical site investigation contract for the Ten noorden van de Waddeneilanden Wind Farm Zone (TNWWFZ).The final deliverable for the Netherlands Enterprise Agency (RVO.nl, part of the Ministry of Economic Affairs and…


Crosby acquires Feubo

The Crosby Group, the global leader in lifting, rigging, and material handling hardware, has completed the acquisition of Feubo, a global leader in offshore mooring components for the oil and gas and wind energy markets. Financial terms of the transaction were not disclosed.The acquisition, effective January 14, 2020, includes the…