Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics across the petroleum industry, Rystad Energy found that existing solutions could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition.
For its third consecutive year, Hywind Scotland – the world’s first floating offshore wind farm – reached the highest average capacity factor for any wind farm in the UK, Equinor said today.
Port of Nigg could be in line to receive government funding to allow it to manufacture turbines for what will be the world’s largest offshore wind farm, according to a news report.
Subsea 7's board has proposed the election of former Equinor boss Eldar Saetre to the post of independent non-executive director at the energy service firm.
Westwood Global Energy reports that there were five exploration well programmes active on the Norwegian Continental Shelf as of February 24. A total of three exploration wells have completed to date in 2021, from which one commercial discovery was made with total resources of c. 57 mmboe, giving a 33% commercial success rate.
Equinor and the Helideck Certification Agency (HCA) have completed the first virtual offshore helideck inspection - a first on the UKCS and in the company.
A rallying cry for improved digital collaboration was issued to North Sea oil and gas firms during the opening session of Energy Voice’s Virtual Tech Showcase.
News that South Korea aims to build the world’s largest offshore wind farm by 2030 follows moves by major exploration and production companies to establish a foothold in the nascent market.
Norwegian energy service firm Aker Solutions will prepare the topsides of Equinor's Troll B and C platforms off Norway to receive electricity from shore via cable.
The next 24 months will see a “rebound” in work for the UK North Sea, according to Westwood Global, with a clutch of offshore projects for contractors to keep an eye on.
Equinor ASA said the Nigerian Supreme Court overturned a ruling that had threatened to divert 1.5% of the company’s profits from one of the country’s largest oil fields to a former consultant.
With pressure from net-zero obligations now mounting, coupled with a growing awareness that it has a valuable energy transition role to play, the North Sea oil and gas industry would at last appear to be taking electrification of UKCS infrastructure seriously.
Oil giant BP’s quest to transition away from fossil fuels and become a net-zero emitter by 2050 has left it caught in a “conundrum”, analysts said yesterday.