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Rotech Subsea completes 2nd phase cable trenching contract at Taiwan OWF

Rotech Subsea completes 2nd phase cable trenching contract at Taiwan OWF   Subsea controlled flow excavation (CFE) and suspended jet trenching innovator, Rotech Subsea, has completed the second phase of major trenching scope of works at a state-owned offshore wind farm in Taiwan. Rotech Subsea returned to Taiwan waters in Q2/3, 2021 for a Tier 1 offshore energy construction giant - a...

Xodus supports electrification study in Central North Sea

Xodus supports electrification study in Central North Sea   Global energy consultancy Xodus is assessing the infrastructure and modifications required to enable electrification of Harbour Energy’s Central North Sea assets following the successful delivery of a power optimisation study examining the opportunities available to rationalise the generation systems on the Everest and Lomond assets. Implementing electrification on offshore assets can reduce operational expenditure,...

Subsea 7 completes pipeline bundle for Buzzard

Subsea 7 completes pipeline bundle for Buzzard   This month marks the successful installation of a 5km Pipeline Bundle for the CNOOC International Buzzard Phase II (BPII) project. Subsea 7’s 88th Pipeline Bundle in 40 years is now in the Buzzard field ready to link the new northern area wells back to the existing platform. Subsea 7 was awarded the contract in 2018 for the project management, engineering, procurement, construction and installation of the Bundle, along with...

Repsol's commercial, renewables unit grows profit by 40% in H1 2021

Repsol's commercial, renewables unit grows profit by 40% in H1 2021   Loosening of the COVID-19 restrictions on mobility coupled with clean power generation helped Spanish multi-energy group Repsol SA boost the adjusted net profit of its Commercial and Renewables unit by 39.9% year-on-year to EUR 228 million (USD 270.9m) in the first half of 2021. Repsol’s service stations in Spain, severely impacted by the COVID-19 lockdown a year ago, increased sales by 63% in this seme...

Tech deals drove Texas M&A activity to near-record levels in first half of 2021

Tech deals drove Texas M&A activity to near-record levels in first half of 2021   Texas companies and private equity firms returned to the deal table in force during the first six months of 2021 as merger and acquisition transactions came close to all-time record highs. New data show that technology — not energy — is the biggest driving force behind the surge in the state’s M&A activity so far this year. There were 661 corporate transactions in which a...

TotalEnergies hits another oil target offshore Suriname

TotalEnergies hits another oil target offshore Suriname   TotalEnergies and APA Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi, and Keskesi, making it TotalEnergies’ fifth discovery off Suriname. Located four kilometres southeast of the Sapakara West-1 discovery, Sapakara South-1 was drilled in a water depth of about 850 meters. The...

Sage award success for Infinity Partnership

Sage award success for Infinity Partnership   Infinity Partnership has been named Accounting Practice of the Year at the 2021 Sage Impact Awards. The Aberdeen-based accountancy and business advisory firm, a five-time winner at the British Accountancy Awards, was praised for its commitment to excellence by Sage, the global accountancy software firm. In addition, Infinity senior accounts assistant, Chloe Leslie, was shortlisted in the Apprentice of the Year Award category. Infi...

Equinor completes divestment of onshore asset in Venezuela

Equinor completes divestment of onshore asset in Venezuela   Equinor and state-owned Petróleos de Venezuela (PdVSA) have completed a transaction whereby Equinor will transfer its 9.67% non-operated interest in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PdVSA company. The Petrocedeño project aims to upgrade extra-heavy crude oil into lighter crude from the Orinoco Belt area (onshore Venezuela). As a re...

Lundin progressing nine new offshore Norway projects

Lundin progressing nine new offshore Norway projects   Lundin Energy has issued an overview on its current exploration and appraisal activities across the Norwegian continental shelf. Results from two recent appraisal wells on the Iving discovery in the central Norwegian North Sea, close to the Balder and Ringhorne fields, were below expectations. The partners are nevertheless assessing the feasibility of a commercial development. So far this year Lundin has participated in four...

ExxonMobil makes new discovery off Guyana's coast

ExxonMobil makes new discovery off Guyana's coast   Exxon Mobil Corp has made a new discovery at Whiptail in the Stabroek Block offshore Guyana, the U.S. oil major said on Wednesday, as it develops one of the world's most important new oil and gas blocks in the last decade. The company operates the 6.6-million-acre Stabroek Block as part of a consortium that includes Hess Corp (and China's CNOOC Ltd. It began production at the block in 2019. Exxon said on Wednesday t...

Drilling service firm hits 15 years with global growth

Drilling service firm hits 15 years with global growth   Drilling equipment service firm, RigQuip, is marking 15 years after growing from a small, privately owned Aberdeen business to a firm with multiple global locations servicing clients across the world. Launched in 2006, RigQuip was historically a North Sea service company, which also delivered new build engineering projects internationally from its UK base. However, since 2015 the business has diversified into new locations, i...

SBM Offshore Signs 26 Year FPSO Deal with Petrobras

SBM Offshore Signs 26 Year FPSO Deal with Petrobras   SBM Offshore has announced that it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 26.25 year lease and operation of the FPSO Almirante Tamandaré. The FPSO will be deployed at the Búzios field in the Santos Basin approximately 110 miles offshore Rio de Janeiro in Brazil. SBM Offshore, which noted that it is progressing with the design and construction of the vessel using its Fast4Ward...

ICR commences Guyana partnership with Panthera Solutions

ICR commences Guyana partnership with Panthera Solutions   ICR Integrity (ICR), a leading global industrial maintenance and integrity company, providing solutions for the oil and gas, power generation, utilities, defence and renewables industries, is pleased to be partnering with Guyana based Panthera Solutions (Panthera) to deliver its Technowrap™ and Quickflange™ technologies, as well as other integrity solutions, to the flourishing oil and gas market in the region. I...

UKOG eyes sale of UK North Sea licences

UKOG eyes sale of UK North Sea licences   United Oil & Gas (UKOG) said on July 28 it had signed a heads of agreement to sell licences P2480 and P2519 in the UK North Sea to fellow London-based player Quattro Energy for up to £3.2mn ($4.4mn). UKOG acquired 100% interests in licences P2480 and P2519 through licensing rounds in August 2019 and December 2020 respectively. P2519 contains the Maria oil discovery, UKOG said, noting it had undertaken low-cost data analysis that h...

High Court to hear case against the OGA

High Court to hear case against the OGA   The British High Court has agreed to hear a case by environmental campaigners claiming that the government's support of North Sea oil and gas companies conflicted with its plans to slash the country's carbon emissions by 2050. The legal challenge revolves around tax breaks oil and gas producers receive in order to help cover costs for dismantling and clearing up aging infrastructure, in what is known as decommissioning. The case...

Subsea 7 S.A. Announces Second Quarter 2021 Results

Subsea 7 S.A. Announces Second Quarter 2021 Results    Luxembourg – 28 July 2021 – Subsea 7 S.A. announced today results for the second quarter of 2021, which ended 30 June 2021. For further information, please visit our website at www.subsea7.com or contact: Katherine Tonks Investor Relations Subsea 7 S.A. e-mail: katherine.tonks@subsea7.com T: +44 (0) 20 8210 5568 Read the latest issue of the OGV Energy magazine HERE.  

Plans for one of biggest green energy hubs takes a step forward

Plans for one of biggest green energy hubs takes a step forward   East Mids developer sells huge Scots port that could become Europe’s leading wind power and hydrogen facility and oil industry decommissioning site Plans to create what could be the biggest green energy manufacturing hub and oil and gas decommissioning site in Europe look to have taken a step closer after a derelict Scottish port was sold by its Derbyshire-based owner. Clowes Developments said it had sold th...

First Subsea lands major offshore wind exports with government support

First Subsea lands major offshore wind exports with government support   First Subsea Ltd, leading designers and manufacturers of Cable Protection Systems for fixed and floating offshore wind farms, has won major contracts to supply several offshore wind projects in overseas markets thanks to financial support from UKEF. First Subsea, part of the First Tech Ltd group headquartered in Aberdeen, has recently shifted away from fossil fuels to operating almost exclusively in renewable...

Equinor takes over Grosbeak discovery

Equinor takes over Grosbeak discovery   State-owned Equinor has acquired 40% of the licences containing the Grosbeak and Kallaasen discoveries offshore its native Norway via a swap deal with independent Wellesley Petroleum. Wellesley on Monday confirmed that Equinor will assume operatorship of all three licences — PL090 JS, PL248 I and PL925. In the swap deal, Wellesley will acquire a 10% participating interest in licence PL942, which contains the Orn discovery, and a 20%...

Proserv lands key manufacturing order from BOC for Majnoon Oil Field

Proserv lands key manufacturing order from BOC for Majnoon Oil Field   Aberdeen based global controls technology company Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels (WHCP) to the Basra Oil Company (BOC) for use on the Majnoon Oil Field in southern Iraq. The deal has been arranged through KBR, the Houston based engineering, procurement and construction management (EPCM) company, which is the EPCM lead on BOC’s plans...
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