AIM-listed UK Oil & Gas (UKOG) has announced that the Oil and Gas Authority has approved the Horse Hill Field Development Plan and consented to the start of long-term production from the field. This key consent will enable net recoverable reserves to be allocated…
OMV AG, Vienna, has entered a deal to take controlling interest of Borealis AG, one of Europe’s leading petrochemical companies. OMV – which currently owns a 36% stake in Borealis – has agreed to buy an additional 39% interest from Mubadala Investment Company for…
Financial derivatives linked to liquefied natural gas are mushrooming as a market crash and a boom in physical trading creates an appetite to manage risk and provides opportunity to speculate on prices. The growth is helping speed up the development of a truly global…
Mubadala Petroleum has increased its interest in its operated G1/48 Concession in the Gulf of Thailand, which includes the Manora field. Tap Oil, a partner in the project, said on the 12th March that Northern Gulf Petroleum had agreed to transfer its 10% shareholding in…
Drone Volt, an embedded artificial intelligence expert and manufacturer of professional civil drones, and Hydro-Québec, Canada’s largest electricity producer and one of the world’s leading hydropower producers, have signed a memorandum of understanding to reach an agreement on the exclusive industrial development and marketing of…
Japan Marine United Corporation has contracted ABB to provide power and control technologies for the wind turbine installation vessel it is building for Shimizu Corporation. This is the first self-elevating wind turbine installation vessel built in Japan. ABB will deliver a closed ring…
The development of renewable energy which is intermittent and decentralised requires the security of the electricity grid through flexible electricity storage capacities, especially in the form of batteries. Total has launched a battery-based energy storage project in Mardyck, at the Flanders Centre, in Dunkirk’s…
Rockrose Energy Plc spudded the second of two infill development wells at West Brae in the central North Sea on the 9th March following completion of the first. Production from the first well is delivering in line with expectations and first production from the…
BP Angola has awarded TechnipFMC an integrated engineering, procurement, construction and installation (iEPCI) contract for the Platina field development in Block 18 offshore Angola, TechnipFMC reported on the 10th March. “We are very pleased to have been selected by BP for this important deep-water…
Norwegian offshore shipping company Island Offshore has secured long-term contracts for several of its platform supply vessels from Swedish oil and gas company Lundin as well as contract extensions with other operators. Island Offshore said on the 11th March that Lundin’s Norwegian entity awarded…
