Latest News
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08 May 24
Germany: Ørsted offshore wind farm Gode Wind 3 generates first power
The first of a total of 23 turbines has been successfully installed at the Gode Wind 3 offshore wind farm. The most powerful and largest turbine in German waters is now feeding electricity into the transmission grid. A new milestone for the German offshore wind industry. -
08 May 24
UK: Spotlight on communities as social scientist takes over as Chair in Ørsted partnership with Durham University
Durham University’s Durham Energy Institute (DEI) and leading renewable energy developer Ørsted have renewed their long-standing partnership, welcoming Professor Simone Abram as the first social scientist to lead the Institute -
08 May 24
Malaysia: Odfjell Technology secures three well services contracts in Malaysia
Odfjell Technology, an integrated supplier of well services technology and engineering solutions, has been awarded three well services contracts in Malaysia, marking a significant milestone in the company’s position in the Asia Pacific region. -
08 May 24
Gabon: Hibiscus South pilot well confirms hydrocarbons
BW Energy has announced that the DHBSM-2P pilot well confirms that the Hibiscus South deposit extends into the northern part of the field with good reservoir quality, increasing reserve estimates. The Company plans to complete the well as a production well later in 2024. -
08 May 24
US: BOEM completes environmental review of Beacon Wind’s proposal for additional site testing offshore Massachusetts
The Bureau of Ocean Energy Management (BOEM) has completed its environmental review of Beacon Wind’s proposal to test suction bucket foundations on its lease area offshore Massachusetts. BOEM determined that the proposed testing will not cause significant impacts to environmental resources. Suction bucket foundations are an alternative foundation type that allow for installation of turbines without the need for pile driving. -
08 May 24
Norway's Ministry of Energy announces APA 2024
The Norwegian Ministry of Energy has announced APA 2024, encompassing the predefined areas with blocks in the Norwegian Sea, Norwegian Sea and Barents Sea. The deadline to apply for APA 2024 is September 3 2024. -
08 May 24
CGG announces alliance with Baker Hughes offering carbon capture and storage solutions
CGG has signed a Memorandum of Understanding with Baker Hughes, an energy technology company, at the 2024 Offshore Technology Conference (OTC) in Houston to facilitate the parties exploring jointly offered carbon capture & storage (CCS) solutions. -
08 May 24
SBM Offshore announces Q1 2024 trading update
SBM Offshore has announced a Q1 2024 trading update. The Company reports year-to-date Directional revenue of US$871 million, in line with expectation and full year 2024 Directional revenue and Directional EBITDA guidance maintained. Awarded contracts in April for the construction and installation of ExxonMobil Guyana’s FPSO Jaguar as part of the Whiptail development. -
08 May 24
Occidental announces Q1 2024 results
Occidental announced net income attributable to common stockholders for the first quarter of 2024 of $718 million, or $0.75 per diluted share, and adjusted income attributable to common stockholders of $604 million, or $0.63 per diluted share. -
08 May 24
Venezuela: Maurel & Prom receives a specific license from the OFAC in relation to its operations in Venezuela
Maurel & Prom has received a specific license it had applied for on 1 September 2023 from the U.S. Treasury Department’s Office of Foreign Assets Control ('OFAC') in relation to its 40% consolidated interest in the mixed company Petroregional del Lago ('PRDL'), which operates the Urdaneta Oeste field in Lake Maracaibo in Venezuela. -
08 May 24
Aramco announces first quarter 2024 results
Aramco has announces first quarter 2024 results. Net income: $27.3 billion (Q1 2023: $31.9 billion). Cash flow from operating activities: $33.6 billion (Q1 2023: $39.6 billion) -
08 May 24
Georgia: Block Energy announces Carbon Sequestration MoU
Block Energy, the development and production company focused on Georgia, has announced a Memorandum of Understanding ('MoU') with JSC Rustavi Azot, a subsidiary of Indorama Corporation, one of Asia's leading chemical companies, to develop the Carbon Capture and Storage ('CCS') opportunity identified within Block's Patardzeuli-Samgori Middle Eocene reservoir. -
08 May 24
VAALCO Energy announces first quarter 2024 results
VAALCO Energy has reported operational and financial results for the first quarter of 2024. VAALCO reported net income of $7.7 million for the first quarter of 2024 which was down compared with net income of $44.0 million in the fourth quarter of 2023 and up compared to $3.4 million in the first quarter of 2023. -
08 May 24
TGS announces Q1 2024 results
TGS has reported interim financial results for Q1 2024. The quarter reflected a strong development in multi-client late sales and high POC early sales rate, resulting in solid profitability in POC financials. POC revenues were USD 227 million compared to USD 229 million in Q1 2023. POC EBITDA of USD 143 million versus USD 119 million in Q1 2023. POC operating result was USD 40 million compared to USD 25 million in Q1 2023. -
08 May 24
PGS announces first quarter 2024 results
PGS announces first quarter 2024 results. Produced Revenues of $222.6 million, compared to $172.2 million in Q1 2023. Produced EBITDA of $112.5 million, compared to $71.5 million in Q1 2023. Produced EBIT (ex. Impairments and other charges, net) of $26.1 million, compared to a loss of $19.7 million in Q1 2023. -
08 May 24
DNO reports strong first quarter results, steps up North Sea activity
DNO, the Norwegian oil and gas operator, has reported first quarter 2024 operating profit of USD 61 million, 61 percent higher than the previous quarter, on the back of revenues totaling USD 183 million. Free cash flow at USD 44 million was up 31 percent from the fourth quarter of 2023. -
08 May 24
Norway: Var Energi sells Norne area assets and increases stake in Ringhorne East
Vår Energi has agreed the sale of its Norne area assets to DNO Norge for a fixed after-tax consideration of USD 51 million, and DNO Norge will transfer to Vår Energi their stake in the Ringhorne East unit. -
07 May 24
TotalEnergies and Sinopec strengthen cooperation
On the occasion of the state visit to France by the President of the People's Republic of China, TotalEnergies and China Petroleum and Chemical Corporation ('SINOPEC') signed a strategic cooperation agreement to deepen their collaboration, notably in low-carbon energies. -
07 May 24
UK: PGS covers licence areas in UK 33rd Round final awards
PGS data covers areas offered for award in Tranche 3 of the UK 33rd Round, announced last week by the NSTA. PGS has MultiClient coverage to support energy companies’ next exploration steps and accelerate the timeline from award to production, with high-quality GeoStreamer 3D seismic, and including the brand new Southern North Sea 3D Vision over awarded blocks. -
07 May 24
Seadrill announces new contract awards for two drillships
Seadrill has announced contract awards for two drillships. The West Capella has secured a one-well contract in South Korea and the West Neptune has secured a six-month contract extension with an independent operator in the U.S. Gulf of Mexico. -
07 May 24
Kosmos Energy announces first quarter 2024 results
Kosmos Energy has announced its financial and operating results for the first quarter of 2024. For the quarter, the Company generated a net income of $92 million. When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net income of $99 million for the first quarter of 2024.
