Danish offshore drilling company Maersk Drilling has secured more work for its Maersk Voyager drillship with Total in Angola. The contract is for three development wells, to be drilled at Total's offshore Block 17. According to Maersk Drilling, the contract has an estimated span of 140 days. This will keep the Maersk Voyager rig busy contracted until... Continue Reading →
Energy transition could force majors to sell or swap $100B in oil and gas assets
To adjust and transform to cleaner sources of energy, the world’s largest oil and gas firms could sell or swap oil and gas assets of more than $100 billion, Rystad said. Rystad said on Tuesday that oil and gas majors were revising their long-term oil price and demand outlook and that they need to streamline... Continue Reading →
Solstad Offshore receives early charter termination for ‘Normand Maximus’
Sept 18, 2020 Norwegian vessel owner Solstad Offshore has received a notice of early termination of the charter party for the one of its vessels from Italian offshore contractor Saipem. Solstad Offshore said on Thursday that the vessel in question was the offshore construction vessel Normand Maximus. The vessel, at the time of construction, was... Continue Reading →
Sapura Energy nets over $203 million in new contracts
Sept 17, 2020 Oil and gas services provider Sapura Energy has announced two major project wins in South America, as well as a drilling contract win in the Ivory Coast. Sapura Energy said on Thursday that the total value of the three contracts is RM 840 million ($203.4 million), bringing the company’s total wins to-date... Continue Reading →
DOF Subsea scores Angola FSV gig
DOF Subsea has secured an integrated field support vessel (FSV) contract with an undisclosed international oil company in Angola. The project will utilise Skandi Seven for a minimum of 303 firm vessel days plus 365 days of options. The contract also includes the potential supply of additional vessels, as required by client. DOF Subsea will during the... Continue Reading →
Natural gas is losing its luster as a “bridge fuel” to renewable energy
Sept 10, 2020 Even the cleanest fossil fuel is losing its appeal to rich nations. Just a few years ago, natural gas was hailed as vital for the transition toward an economy that runs on renewable energy. But sentiment is changing and the fuel is going the same way as coal, its dirtier sibling shunned... Continue Reading →
Tullow Posts $1.3B Loss. Looks at ‘Various Refinancing Alternatives’
Sept 9, 2020 Tullow Oil is exploring ways to fend off a potential cash crunch as the London-listed group reported a $1.3 billion loss after it was forced to write down $1.4 bln due to collapsing demand for oil. Tullow, with a market cap of $361 million as of Tuesday and $3 billion in debt,... Continue Reading →
Kosmos Energy farms down asset portfolio to Shell for up to $200M
September 9, 2020, by Bojan Lepic U.S.-based oil and gas company Kosmos Energy has entered into an agreement with a subsidiary of Royal Dutch Shell to farm down interests in a portfolio of frontier exploration assets for up to $200 million. São Tomé & Príncipe assets; Source: Kosmos Energy Kosmos said on Wednesday that Shell would... Continue Reading →
PGS Completes Seismic Survey Offshore Angola. Fast-Track Data in Q4
Norwegian seismic data acquisition firm PGS has completed a large seismic survey offshore Angola using the 2008-built Ramform Sovereign vessel. The 2020 PGS Namibe Basin survey connects the 3D seismic coverage of southern Angola with PGS seismic data library coverage in Namibia, completing a large MultiClient footprint of high-quality broadband seismic data that spans the... Continue Reading →
Angola Aims to Reverse Oil Output Decline
Africa's second-biggest oil exporter, Angola, has unveiled a 2020-2025 energy roadmap which foresees oil discoveries of up to 57 billion barrels of crude oil and 27 trillion cubic feet of gas, state news agency ANGOP reported. The plans involve $679 million in foreign investment and $188 million by the Angolan state, the agency reported late... Continue Reading →
