Energy Voice | DNO increases bid to take over Faroe Petroleum

Norwegian oil explorer DNO has increased its offer to acquire Aberdeen-based Faroe Petroleum. The Oslo-listed firm has made a revised offer of £1.60 per share, up from an initial £1.52 tabled in November, and values the company at £641.7million. Faroe’s board has argued the initial offer “significantly undervalues” the company. Last week Faroe commissioned an […]

Energy Voice | North Sea workers accept OCA pay offer

Unite union members have voted to accept a revised pay offer from the Offshore Contractors Association (OCA), according to an offshore union representative. John Boland, Unite regional officer, confirmed members voted to “accept the pay offer on a 71% return ballot”. The union later verified that it’s 2,500 members covered by the OCA had accepted […]

BP Goes Ahead with Atlantis Phase 3; Eyes Na Kika Subsea Tiebacks

BP said it has approved a major expansion at the Atlantis field in the U.S. Gulf of Mexico and has also identified significant additional oil resources that could create further development opportunities around the production hubs it operates in the region. The $1.3 billion Atlantis Phase 3 development is the latest example BP’s strategy of […]

Energy Voice | BP announces £1bn expansion for Gulf of Mexico project

BP has announced a £1billion expansion of its Atlantis development in the Gulf of Mexico amid the discovery of huge additional oil reserves. Atlantis Phase Three will create a new subsea production system, from eight new wells to be tied into the platform, due to come on stream in 2020. BP said advanced seismic imaging […]

Deutsche Bucht OWF Gets Its Foundations

Northland Deutsche Bucht has completed the installation of all 31 foundations for its offshore wind farm project in the North Sea. This concludes the first phase of construction within the planned time frame. Jens Poulsen, project director of Northland Deutsche Bucht, says: “Installation work on the construction site, which is more than 100 kilometers off […]

Infinera Boosts AJC Submarine Cable

Australia-Japan Cable (AJC) submarine cable system connecting Australia, Guam and Japan has recently completed a major system upgrade using Infinera subsea solution. AJC tripled lit capacity on its 12,700-kilometer subsea cable system by upgrading its Infinera DTN-X network with Infinera’s fourth generation optical engine – ICE4 (Infinite Capacity Engine). The network upgrade also delivers […]

Oil price rally stretches a supplies tighten

Oil extended its longest run of daily gains in 17 months on renewed efforts between the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC’s output cuts. Futures in New York increased as much as 1.6 percent following six days of gains, the longest streak of increases […]

Energy Voice | Photo campaign marks end of production on Brae Bravo

The end of production on a North Sea platform has been marked with a photo campaign after 30 years of operations. Robert Gordon University  (RGU) sent a team of four students to capture life on board Marathon Oil’s Brae Bravo platform. Marathon commissioned the project, which started last February, to mark end of production on […]

Energy Voice | DNO presses Faroe for ‘transparency’ after downgrade

Norwegian firm DNO has urged its takeover target, Faroe Petroleum, to provide “transparent and timely” operations updates. Oslo-based DNO said an independent expert’s valuation report prepared for Faroe made no reference to a reserves downgrade at the Oda field offshore Norway. Yesterday, the Norwegian Petroleum Directorate said reserves had been lowered to 32.7 from 47.2 […]