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Enauta evaluates closing the Atlanta field operations, in the Santos Basin post-salt, after Barra Energia informs that it will abandon the asset. An alternative is to take 100% of the field. The decision should be taken by the end of this month, Enauta reported today. - “Enauta had already been revising the project in order... Continue Reading →
Oilfield services provider Petrofac has completed the disposal of its non-core assets in Mexico to Perenco, but the two companies have entered into a dispute related to this transaction. Petrofac first sold a 49 per cent of its operations in Mexico to Perenco back in October 2018. This included contracts for work on the Santuario and... Continue Reading →
Offshore drilling contractor Transocean booked a profit in the third quarter of 2020 backed by a gain on restructuring and retirement of debt, offset by a loss on disposal of assets. Transocean on Monday reported a net income attributable to controlling interest of $359 million for the third quarter of 2020 compared to a loss a year... Continue Reading →
UK oil company Premier Oil's creditors have given their approval for the company's merger with rival Chrysaor, proposed in October. To remind, the two UK-based offshore oil and gas companies Premier Oil and Harbour-controlled Chrysaor agreed to merge in an all-stock transaction, via a reverse takeover. The involved parties said the proposed merger would create... Continue Reading →
Norwegian company Aker Offshore Wind has received funding from Enova for a pre-project that aims to reduce costs and increase maturity in important technical segments of offshore floating wind. Enova is Norway’s innovation fund for environmentally friendly technologies. The objective of the project is to better understand how technology solutions can enable the use and development of a Norwegian... Continue Reading →
South America’s offshore output is on track to surpass volumes coming from North America by 2024, energy intelligence group GlobalData said Tuesday. While several projects in Brazil and Guyana have taken final investment decision (FID), and are less likely to be postponed or suspended, offshore US and Mexico tell a different story, GlobalData says. Key... Continue Reading →
Well abandonment services provider Well-Safe Solutions has secured a £26 million ($33.6 million) investment to fund the next phase of the company’s growth plan. Well-Safe said on Monday that the further investment into the decommissioning company was led by MW&L Capital Partners, following their initial investment of $85 million to the company back in October 2019. Phil... Continue Reading →
The Covid-19 pandemic and energy transition are expected to expedite peak oil demand to 2028 and cut demand levels to 102 million bpd, according to Norwegian energy intelligence firm Rystad Energy. The Covid-19 pandemic and the acceleration of the energy transition have led Rystad Energy to significantly revise its long-term oil demand forecast. The virus... Continue Reading →
Offshore drilling firm Pacific Drilling and certain of its subsidiaries have filed for Chapter 11 bankruptcy with the aim to eliminate $1.1 billion debt. The company, which had previously filed for Bankruptcy in 2017, said Friday that it and certain of its domestic and international subsidiaries had filed voluntary petitions for relief under Chapter 11 of... Continue Reading →
(Reuters) - Norwegian energy company Equinor EQNR.OL aims to become a net zero emitter of greenhouse gases by 2050, including emissions from the production and final consumption of oil and gas, its new chief executive said as he took office on Monday. Anders Opedal, the first engineer to lead state-controlled Equinor, plans to expand the acquisition... Continue Reading →
