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Norwegian energy major Equinor, together with its partners, will inaugurate today the world’s largest floating offshore wind farm, Hywind Tampen, according to Reuters. The Hywind Tampen floating offshore wind farm will be officially opened today by Prime Minister Jonas Gahr Støre and HRH Crown Prince Haakon of Norway. Equinor’s partners on this project include Petoro, OMV, Vår Energi,... Continue Reading →
(OET) Offshore accommodation provider Prosafe is optimistic about the demand outlook for 2024 and beyond, thanks to a substantial boost in tendering activity for this period. As a result, the vessel owner is anticipating higher day rates and fleet utilisation in the future. Prosafe recorded revenues of $21 million in 2Q 2023, compared to $60.9... Continue Reading →
(OE) Norway-based DOF Group on Monday announced it has been awarded a contract for one of its vessels offshore West Africa. The deal will see DOF's construction support vessel (CSV) Skandi Acergy support operations to install subsea umbilicals, risers and flowlines (SURF) for an unnamed "tier 1 contractor and operator" in West Africa, DOF said.... Continue Reading →
(OE) Oilfield services firms SLB, Subsea 7, Aker Solutions have received approvals from all relevant competition authorities to create a subsea joint venture, as proposed in August 2022. "Following clearance as of [Friday] by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have been obtained, including required clearances in Angola, Mozambique, Australia, Norway,... Continue Reading →
(OW) Japanese utility Kansai Electric Power Corporation (KEPCO) and Ingka Investments, the investment arm of Ingka Group, have joined the UtsiraVIND consortium, which will be bidding in the upcoming tender in Norway for the Utsira Nord area. The UtsiraVIND consortium originated as a partnership between Odfjell Oceanwind, a Norwegian provider of floating offshore wind technologies, and Source Galileo, a... Continue Reading →
(Reuters) Norwegian state energy firm Petoro said it was becoming harder to tie oil and gas platforms to the electricity grid as planned, as it reported a 34% drop in profit for the second quarter on Wednesday due to petroleum prices falling sharply. Petoro, which is 100% government owned, is not itself an operator, but... Continue Reading →
Spain-headquartered Iberdrola has secured a EUR 500 million loan from Citi, partly guaranteed by the Norwegian Export Credit Agency (Eksfin), to support the development of the 1.4 GW East Anglia Three offshore wind farm in the UK. The loan has a drawdown period of two years. According to Iberdrola, it will improve the company’s liquidity... Continue Reading →
(Reuters) - Equinor (EQNR.OL) posted on Wednesday a 57% year-on-year decline in second quarter core profit, in line with expectations as oil and gas prices fell, while maintaining its dividend and share buyback levels, sending its shares slightly lower. The Norwegian energy group's adjusted earnings before interest and tax for April-June fell to $7.54 billion from $17.6... Continue Reading →
(Reuters) - Norwegian oil services firm Aker Solutions (AKSOA.OL) on Thursday raised its full-year sales guidance on the back of high tender activity and increased spending from oil companies. It said it now expected revenues to increase by around 30%, up from guidance given in May for "more than 15%". It reiterated guidance for an improved operating... Continue Reading →
Oil and gas companies are set to spend $58 billion on well intervention – a way to extract additional resources from an existing well instead of drilling a new one – in 2023, the Norwegian energy intelligence group Rystad Energy said. Rystad Energy said its modeling showed this is just the start of a surge... Continue Reading →
Brazil Energy Insight 