‘Agreement’ reached after Mermaid accused of months-overdue payments
ConnTrak complained that Mermaid Group owed $635,000 in undisputed invoices which were months overdue.
Oil & Gas
Adnoc Drilling JV takes US drilling company stake
Adnoc Drilling and Alpha Dhabi set out their plans for the joint venture in November 2023. The company will acquire and invest in “tech-enabled oilfield services”. It aims to spend $1.5 billion.
Reabold fends off second ouster attempt as dissent shrinks
Reabold Resources shareholders have voted against a second attempt to oust the company’s management and board.
Lack of helicopter parts could hit production, says Norway oil minister
Norway’s energy minister has said oil and gas activity may be hit by a lack spare parts for S-92 helicopters.
Petrofac warned over welding fume risks on Kittiwake
Safety regulators have put Petrofac on notice after it found poor assessments left offshore workers on the Kittiwake platform at risk of exposure to hazardous fumes.
Russia’s oil drilling boom proves Moscow’s resilience to Western sanctions
Russia was on pace for a second year of record oil drilling in 2023, further evidence of the nation’s resilience to Western sanctions.
Galp strikes significant discovery off Namibia, to drill deeper
Galp will drill Mopane-1X deeper, in order to explore further targets, it said. Once the work is complete, it will relocate the rig to drill Mopane-2X for further evaluation.
Wood secures ‘major’ North Sea contract with BP
Engineering firm Wood has been awarded a "major" multi-million dollar contract to deliver topside modifications for a BP subsea tieback in the UK North Sea.
Hunting estimates close to $100 million in EBITDA for 2023
Engineering group Hunting (LSE:HTG) has provided a year-end trading update for 2023, with the company's revenue expected to rise above $925 million.
Total increases stake in giant Namibia find with Impact deal
Total is gaining a 10.5% stake in Block 2913B and 9.39% in Block 2912. The French company is the operator and has made a number of discoveries in the area, including the giant Venus find.
Boost for North Sea as Valaris unveils swathe of rig deals
Offshore drilling contractor Valaris (NYSE:VAL) has announced a swathe of new contracts and extensions, with its order backlog rising to $1.14 billion.
Aberdeen’s Cutting Underwater Technologies toasts record year in 2023
Aberdeen's Cutting Underwater Technologies (CUT) has posted record revenue and project numbers in 2023.
Worley shares fall as it denies corruption, bribery allegations in Ecuador
Australian engineering firm Worley (ASX:WOR) has seen its shares fall at least 2.3% after it denied allegations of bribery and corrupt conduct in Ecuador.
ABL and Integrity HSE join forces to create ‘unrivalled’ rig inspection player
A marine energy consultancy and HSE specialist have teamed up to create what they say will be the leader in the Aberdeen rig inspection market.
Energy costs ‘wildcard’ and an upcoming election
While the past year has been one of highs and lows, the next twelve months look set to offer more of the same.
Norway’s parliament approves deep sea mining in Arctic
Norway’s parliament approved commercial mineral exploration in the country’s Arctic waters even as the environmental and fishing lobbies pushed back against the move.
Delivering floating wind at scale
Given the wealth of stakeholders with a vested interest in decarbonising the North Sea, getting any number of them together at any one time is a tough ask.
New data confirms ‘great result’ at Shell’s North Sea Orlov well
New data shows promising flow rates at Shell's Orlov discovery in the Central North Sea, though the future of the project is still to be determined.
UAE bans tankers flying Cameroon flag on safety concern
The United Arab Emirates banned ships arriving in its waters that sail under the flag of Cameroon — a move that distances the emirate from risky vessels that have been assembled to transport sanctioned oil.
Worley in stock trading halt
The Australian engineering firm Worley has requested an immediate trading halt on its shares “pending it releasing an announcement.”
Dolphin Drilling receives $2 million in outstanding payments from GHL over Nigeria contract
Aberdeen-headquartered Dolphin Drilling (OSLO: DDRIL) has announced it has received $2 million in overdue payments from General Hydrocarbons Limited (GHL).
Dealmakers’ view: What impact will the general election have on UK energy investment?
Upstream oil and gas is the main segment of the UK offshore energy industry likely to be impacted by uncertainty of a general election, top dealmakers have said.
Global offshore rig market could reach 96% utilisation in 2024
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
Why gender balance is good for business
Even though energy leaders around the world have established ambitious net zero targets for 2030 and beyond, the energy sector remains the source of around three-quarters of greenhouse gas emissions today, according to the International Energy Agency.
Government delays North Sea legislation due to lack of Commons time
Government legislation designed to maximise North Sea oil and gas production has been delayed to avoid it being rushed through its first stage in 45 minutes.