Rolls-Royce has agreed to sell its Commercial Marine business to Kongsberg for an enterprise value of £500 million (US$661 million). This follows a review of the division’s operations in January. Commercial Marine, which has around 3,600 employees, had an operating loss last year of…
Spirit Energy has agreed to take on operatorship of the producing Babbage gas field in the UK southern North Sea, in which it presently holds a 13% interest. The company will also assume operatorship of the nearby Cobra discovery, where it has a 50%…
Norwegian oil and gas company Equinor has reached an agreement to buy 100% of shares in Danish energy trading company Danske Commodities (DC) for €400 million (US$468.3 million). Equinor said that the acquisition included smaller contingent payments depending on DC’s performance over the next…
Malaysia’s MISC Berhad has signed a long-term charter contract with Hess Exploration and Production Malaysia for the lease of a floating, storage and offloading facility (FSO) known as FSO Mekar Bergading on a bareboat basis. MISC said in a Bursa Malaysia filing on the 6th…
Updates at The Standard Club The Standard Club’s London team moved into a new office at: The Minster Building 21 Mincing Lane London EC3R 7AG This has been the registered address since the 11th April 2018, when Standard House was vacated. With effect…
Equinor has announced that the Ministry of Petroleum and Energy has approved the Plan for Development and Operation (PDO) for the Snorre Expansion Project. The field is located in the Tampen area in the northern part of the North Sea, with a water depth…
Mellitah Oil & Gas, the joint venture between Eni and Libya’s NOC, has started production from the first well of the Bahr Essalam Phase 2 project in the Mediterranean Sea offshore Libya. Start-up was three years after the final investment decision. Two further wells…
The target set in 2016 by the Oil and Gas Authority (OGA) and industry to reduce UK Continental Shelf (UKCS) decommissioning costs by at least 35 percent has been labelled ‘ambitious’ by sector experts. “Sounds to me to be a very ambitious target,” Paul…
President Trump, who recently called on OPEC producers to help reduce oil prices, has raised prices through his tweets, Iranian OPEC Governor Hossein Kazempour Ardebili was quoted as saying by news agency SHANA on the 5th July. “Your tweets have increased the prices by…
Okea AS and Halliburton have announced that they have signed a well construction services agreement to implement Halliburton Landmark’s full suite of software in the iEnergy cloud and field development planning services for all Okea fields in the Norwegian Continental Shelf (NCS). Okea said…
