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Business & Finance

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Map showing EGL5; Source: National Grid
Business & Finance

First steps being taken to bring UK’s fifth subsea electricity superhighway to life

The UK National Grid and SSEN Transmission have set into motion the first steps for the development of Eastern Green Link (EGL5), the UK’s fifth subsea electricity superhighway that would connect Scotland and England, by launching a public consultation. The partners opened a stage 1 (non-statutory)

about 1 year ago
NAGA 4 jack-up rig; Source: Velesto
Business & Finance

Velesto rig lines up drilling job for over 40 wells

Velesto has won a new multi-well drilling assignment for one of its jack-up rigs off the coast of Vietnam, Southeast Asia.

about 1 year ago
PEL 94 offshore Namibia; Source: GEO Exploration
Business & Finance

Oil resource uplift comes to light in Namibian offshore basin’s ‘sweet spot’

GEO Exploration has revealed an uptick in unrisked prospective resources within its petroleum exploration license (PEL) 94 in the Walvis Basin, off the coast of Namibia.

about 1 year ago
GEOxyz opens first office in Africa, more expansions in its roadmap
Business & Finance

GEOxyz opens first office in Africa, more expansions in its roadmap

GEOxyz has opened its first branch in Africa, located in Namibia, marking what the Belgium-headquartered survey company describes is a significant milestone in its international expansion strategy. According to GEOxyz, Namibia was chosen as the regional base due to its central location, strong busin

about 1 year ago
MSC Cruises places €3.5 billion order for two new LNG-powered World Class ships
Business & Finance

MSC Cruises places €3.5 billion order for two new LNG-powered World Class ships

MSC Cruises, the cruise division of Swiss shipping giant MSC Group, has decided to expand its LNG-powered World Class series with two new ships to be built by Chantiers de l’Atlantique in Saint-Nazaire, France.

about 1 year ago
Cygnus Alpha; Source: Neptune Energy, which became part of Eni's UK portfolio now managed by Ithaca
Business & Finance

North Sea operator takes steps to boost its stake in UK’s largest gas field

Ithaca Energy, a North Sea oil and gas operator and producer, has made a move to enlarge its operated interest in a gas field, said to be the largest one on the UK Continental Shelf (UKCS), by acquiring Spirit Energy’s share in the asset.

about 1 year ago
Scarabeo 8 rig; Source: Saipem
Business & Finance

New oil discovery springs up in Norwegian waters

Aker BP has made a new oil discovery in the Norwegian Sea, off the coast of Norway, with a semi-submersible rig owned by Italy’s Saipem.

about 1 year ago
DOF's four new contracts with Petrobras worth around $480 million
Business & Finance

DOF’s four new contracts with Petrobras worth around $480 million

Norwegian vessel owner DOF Group has secured four long-term contracts with Brazil’s state-owned energy giant Petrobras that are together worth approximately $480 million. Skandi Iguaçu, which DOF describes as one of the biggest anchor handling tug and supply (AHTS) vessels ever built in Brazil with

about 1 year ago
Production capacity of 1.3 million barrels of oil per day expected by the end of 2027 offshore Guyana; Source: ExxonMobil
Business & Finance

Guyana’s new bill to hold operators accountable for oil spills

Given the challenges many countries around the globe have faced in containing oil spills, Guyana has taken steps to avoid a similar fate by making oil and gas operators liable for environmental protection, thanks to a new legislation, which sets out a comprehensive national legal framework for oil s

about 1 year ago
Illustration; Source: ADES
Business & Finance

Fresh ten-year gig puts another ADES rig back in Aramco’s oil & gas orbit

ADES Group has landed a long-term contract renewal in the Kingdom of Saudi Arabia (KSA), which allows another one of its previously suspended jack-ups to return to work with Aramco, a Saudi energy giant.

about 1 year ago
New framework agreement with ConocoPhillips takes Subsea7 to Norway
Business & Finance

New framework agreement with ConocoPhillips takes Subsea7 to Norway

Subsea7 has secured a contract with U.S. energy giant ConocoPhillips for a front-end engineering and design (FEED) study for the Previously Produced Fields (PPF) development project in Norwegian waters. The Previously Produced Fields (PPF) are located in the Greater Ekofisk Area, approximately 290 k

about 1 year ago
Harmony platform; Source: Sable Offshore
Business & Finance

California’s first of three offshore platforms back in oil production business after 10 years

Sable Offshore, a Texas-based oil company, has restarted oil output from a platform off the coast of California, where production has been offline for a decade.

about 1 year ago
ADNOC secures exclusive rights for 'critical tech' for oil & gas well completions
Business & Finance

ADNOC secures exclusive rights to ‘critical tech for completing oil & gas wells’

UAE’s Abu Dhabi National Oil Company (ADNOC) has signed a strategic agreement with Tubacex through which it has secured exclusive rights to use the Spanish company’s tubular joint connection technology, seen as “critical for completing oil & gas wells”. The companies have signed a strategic agreemen

about 1 year ago
Abdülhamid Han drillship; Source: President Recep Tayyip Erdoğan
Business & Finance

Türkiye’s drillship makes ‘large’ gas find in Black Sea

As part of Türkiye’s mission to cut its reliance on foreign natural gas and diversify its sources of supply, the country is conducting oil and gas exploration activities. One of the drillships tasked with searching for hydrocarbon reserves has made a new natural gas discovery in the Black Sea.

about 1 year ago
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