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Shelf Drilling acquires Jack Up to boost fleet

Shelf Drilling acquires Jack Up to boost fleet   Shelf Drilling has reached an agreement with a subsidiary of Aban Offshore for the purchase of the drilling rig "Deep Driller 7", according to a stock exchange announcement. The deal was first announced in June, when Shelf said it would buy the 2008-built jack-up rig for $30 million. The rig is a Baker Marine Pacific Class 375 design. Shelf is a jack-up specialist with a large fleet operating in the Middle East, Southeas...

Two oil & gas firms ink merger deal to establish ‘full-cycle asset base’

Two oil & gas firms ink merger deal to establish ‘full-cycle asset base’   Houston-based Vaalco Energy and Canada-headquartered TransGlobe Energy Corporation have revealed a deal to combine their businesses into a single company, which is expected to create a diversified African-focused E&P business supporting sustainable growth. Vaalco and TransGlobe announced on Thursday that they have entered into a definitive arrangement agreement, which will allow the forme...

Aker Solutions: Current renewables industry framework not sustainable

Aker Solutions: Current renewables industry framework not sustainable   Norwegian engineering and construction giant Aker Solutions is tendering for Nkr105 billion (US$10.2 billion) worth of new work and, even though its outlook for oil and gas is positive, it believes the current frameworks around the renewables energy industry are not sustainable. "Renewables is currently a young and developing industry with some first-of-a-kind projects," the company said today in its...

NSTA appoints Stuart Payne as new Chief Executive

NSTA appoints Stuart Payne as new Chief Executive   Stuart Payne joined the NSTA when it was created in 2015 and is current Director of Supply Chain, Decommissioning and HR   Current leader Andy Samuel will step down after eight years   The North Sea Transition Authority (NSTA) has announced today that Stuart Payne has been appointed the new Chief Executive.   An experienced business leader and current NSTA Supply Chain, Decommissioning and HR Director, Mr...

Motive Offshore accelerates renewable growth with multimillion investment

Motive Offshore accelerates renewable growth with multimillion investment   Motive Offshore Group (Motive), which specialises in engineering, inspection and rental equipment for the energy sector, has secured a significant multimillion pound investment from H2 Equity Partners (H2). The deal will support the international growth plans and ambitions of Motive, generating 75% of revenue from renewables by 2025. The announcement follows a successful period of growth where the company h...

£3M Funding Boost to Accelerate Innovative Smart Direct Air Capture Technology

£3M Funding Boost to Accelerate Innovative Smart Direct Air Capture Technology   £3m funding awarded as part of the BEIS GGR Innovation Competition for the development of a pilot plant in Northern Ireland. SMART DAC technology is a zero-emissions solution capturing CO2 from the air for storage or reuse. The project is supported by five consortium partners - the Net Zero Technology Centre, Process Design Centre, Herriot Watt University, Optimus Plus and B9 Energy.&nb...

Potential delay looms over first oil from Gabon project due to rig availability

Potential delay looms over first oil from Gabon project due to rig availability   Oslo Stock Exchange-listed oil and gas E&P company BW Energy has revealed that the first oil from its project offshore Gabon may be delayed due to a potential change in the Borr Drilling-owned rig’s schedule, which would impact the rig’s availability, moving its slot for this project to next year. At the end of May 2022, BW Energy informed that it was still on track for the first oil f...

EIC Survive & Thrive: Mixed policy messages on oil and gas undercut exports but innovation rebounds

EIC Survive & Thrive: Mixed policy messages on oil and gas undercut exports but innovation rebounds   Innovation is at the centre of attention in the energy industry for 2022, according to dozens of CEOs and senior executives of energy companies across the supply chain and in sectors ranging from oil and gas to power and renewables. This is a key takeaway from the sixth Survive and Thrive report, produced by the Energy Industries Council (EIC) to reflect on challenges and oppor...

Serica Energy turns down £1bn merger proposal from Kistos

Serica Energy turns down £1bn merger proposal from Kistos   UK North Sea operator Serica Energy said that its board has unanimously rejected a merger proposal from Kistos that valued the former at £1.04bn ($1.23bn). According to Serica Energy, the offer materially undervalues the company and will negatively affect the balance sheet and growth potential of the combined entity. The company further stated that the prospects of the offer were not in the best interests of...

Global Offshore Wind 2022 - Event Review

Global Offshore Wind 2022 - Event Review   OGV Energy Media Group brings you an overview of the Global Offshore Energy 2022 Event in Manchester, providing you with the latest updates and insights on the wind energy sector directly from the energy experts and exhibitors.  This year things kick off with great enthusiasm and strength as the UK government pushes forwards with the energy transition goals coupled with the prospect of no further lockdowns. This situation op...

Fresh gas find for Aker BP in Norwegian Sea

Fresh gas find for Aker BP in Norwegian Sea   Norwegian oil and gas company Aker BP has made a gas discovery near the Skarv field in the Norwegian Sea. Back in April 2022, Aker BP received consent for exploration drilling with Odfjell Drilling’s Deepsea Nordkapp rig in block 6507/2 in the Norwegian Sea from the Petroleum Safety Authority Norway (PSA). The well 6507/2-6 was targeting a prospect named Storjo East. A drilling permit was secured from the Norwegian Petroleum Di...

Northeast steel and cladding company shortlisted as finalists for Vibes Awards

Northeast steel and cladding company shortlisted as finalists for Vibes Awards   Local steel and cladding company, KR Group, has been shortlisted as a finalist for the VIBES Scottish Environment Business Awards 2022. Once again, KR Group’s environmental achievements have been recognised on a national level. Following a series of awards finals this year, including the CeeD Awards and Northern Star Business Awards, the team at KR Group are hopeful. The VIBES Scottish Environ...

World-first for AIS Survivex following major investment in new state-of-the-art lifeboat simulators

World-first for AIS Survivex following major investment in new state-of-the-art lifeboat simulators    AIS Survivex is celebrating a world-first after investing close to $1m into the very latest lifeboat simulator technology to increase marine safety and boost competency for coxswains. This major investment complements AIS Survivex’s existing marine training facility in Aberdeen Harbour and provides a major differentiator as the company becomes the very first training b...

New Fortress Energy contracts Flour for second Fast LNG facility

New Fortress Energy contracts Flour for second Fast LNG facility   US liquified natural gas (LNG) player New Fortress Energy (NFE) has awarded a full notice-to-proceed contract to fellow construction firm Flour for the engineering, procurement and fabrication management of its Fast LNG 2 project. The Fast LNG 2 is a nominal 1.4mt/y LNG gas treating and liquefaction plant to be placed on fixed offshore platforms. The project is another offshore modular mid-scale LNG plant that Wes E...

PETRONAS wins in the Digital – Oil and Gas category in Malaysia Technology Excellence Awards

PETRONAS wins in the Digital – Oil and Gas category in Malaysia Technology Excellence Awards   It received the award for its Pipeline Engineering Solution, P-PiES. In oil and gas exploration and production, the most economical way to transport hydrocarbon is through pipelines. In PETRONAS, designing pipelines is a constant activity, filled with challenges including disorganised data, dependency on third-party for analysis, and the need to have manual review and revisions, mak...

NNPC Blocks Exxon Mobil’s Asset Sale To Seplat

NNPC Blocks Exxon Mobil’s Asset Sale To Seplat   The Exxon Mobil Corporation has been blocked from selling its assets in Nigeria to Seplat Energy Plc, following a case filed by the Nigerian National Petroleum Company Limited. According to Blomberg, NNPC was granted an order by a judge in Abuja stopping Exxon “from completing any divestment” in a unit that ultimately operates four licenses in Nigeria. Seplat which is based in Lagos State had taken steps to take...

Middle East Energy Review – July 2022

Middle East Energy Review – July 2022   The acceleration of the OPEC+ oil production increase, Qatar’s major LNG expansion plans, and Saudi Aramco’s sustainability report were the highlights in the Middle East’s oil and gas industry over the past month. OPEC+ Accelerates Monthly Production Hikes In early June, the OPEC+ group of producers led by Saudi Arabia and Russia decided to accelerate the monthly oil output boost to an increase of 648,000 barrels pe...

Training and Skills Will Play Key Roles in the Future of Energy

Training and Skills Will Play Key Roles in the Future of Energy   Retaining and hiring talent in the energy industry and training and upskilling employees for their current and future roles is key to maintaining adequate supply of conventional fuels as well as expanding renewables capacity and fostering innovation in clean energy.  The energy transition will need hundreds of thousands of talent entering the energy industry workforce, while oil and gas will continue to need sk...

STC INSISO’s elevate™ Management Academy

STC INSISO’s elevate™ Management Academy   STC INSISO’s elevate™ Management Academy is a customised learning and development programme for personnel moving into more strategic business management roles across various business functions and regions. elevate™ is tailored to meet the needs of individual organisations - our training and software development specialists piece together your brand guidelines, data, and challenges to truly reflect your business s...

Serica drilling for gas in North Sea North Eigg well

Serica drilling for gas in North Sea North Eigg well   The Transocean Paul B. Loyd Jr. semisubmersible has spud the HP/HT North Eigg exploration well in the UK northern North Sea for Serica Energy. Well 3/24c-NE1 will target Upper Jurassic turbidite sands, similar to those encountered in the nearby Serica-operated Rhum gas-condensate field. The company estimates prospective resources in North Eigg at 60 MMboe. If the well is successful, North Eigg would be developed via infra...
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