The team aboard the research vessel Atlantis who located the sunken El Faro’s voyage data recorder (VDR) has determined it will not be possible to recover the VDR during the current mission. The team of investigators and scientists aboard Atlantis collaborated with investigators at the National Tran
French oilfield services provider Technip saw its net income rise, despite the drop in adjusted revenue. Adjusted revenue for the first quarter of the year was 2.76 billion euros, down $4.2 percent from 2.88 billion euros a year ago, and according to Reuters, the adjusted revenue was better than exp
Following an issue with the turret bearing on the Jubilee field FPSO, offshore Ghana, the oil exploration and production company Tullow Oil said on Thursday that off-take and production from the field will resume in the next few days. A technical investigation of the Jubilee field FPSO Kwame Nkrumah
Total of France is close to securing US$4 billion of financing for the Yamal LNG project with Russian banks, according to Total’s chief financial officer, Patrick de La Chevardiere.
Sterling Energy, an oil and gas exploration company, has issued a notice of withdrawal from the Ambilobe block, offshore Madagascar, to its joint venture partner Pura Vida Mauritius. Sterling is the operator of the Ambilobe block that is located in the Ambilobe deep water basin, offshore north-west
The first wind turbine foundations have been installed at the 350MW Wikinger offshore wind farm, Iberdrola, the owner and developer of the wind farm located in the German part of the Baltic Sea, said. The milestone was announced in the Spanish utility’s financial report for the first quarter of 2016
The first wind turbine foundations have been installed at the 350MW Wikinger offshore wind farm, Iberdrola, the owner and developer of the wind farm located in the German part of the Baltic Sea, said. The milestone was announced in the Spanish utility’s financial report for the first quarter of 2016
Subsea 7, a subsea engineering, construction and services company, has managed to keep its first quarter 2016 profit in balance with the one made a year ago, but the company expects the outlook to remain challenging. The company’s net income fell from $151 million in the first quarter of 2015 to $14
Aker Solutions, Norwegian provider of products and services to the international oil and gas industry, sees signs of improvement in the industry. Presenting its first quarter results on Thursday, the company acknowledged the markets were challenging, with projects being postponed across the industry
Paris-based LNG engineer Technip posted a 4.2 percent lower revenue in the first quarter due to the oil and gas industry downturn. Technip’s adjusted revenue for the first quarter was 2.76 billion euros ($3.13 billion), as compared to 2.88 billion euros in the quarter a year before, the company said
Ensco, an offshore drilling contractor headquartered in London, reported a lower net income and revenues for the first quarter of 2016 compared to a year ago, due to decline in rig utilization. Ensco’s net income for the first quarter of 2016 dropped to $175.3 million, compared to $324.7 million a y
Offshore drilling contractor Seadrill has sold its remaining stake of approximately 490 million shares in SapuraKencana, an oilfield services company based in Malaysia. Seadrill said on Wednesday it has sold its 8.2 percent stake in the Malaysian company for approximately $195 million. The offshore
UK’s Natural Environment Research Council plans to invest £15 million in marine autonomous systems (MAS) and sensors over a five-year development programme. A £10 million investment will be made through the National Oceanography Centre (NOC) for the development of a new 1500 meters depth-rated Autos
The European gas market is well supplied and Statoil sees only a limited impact from U.S. LNG volumes this year, the Norwegian company’s Chief Financial Officer Hans Jakob Hegge said on Wednesday. “Looking at the gas market moving forward the starting point is that the EU gas market is well-supplie
