Offshore & subsea - 25 October 2018

The Norwegian company has reported adjusted earnings of US$2 billion after tax in 3Q18, and reduced its net debt ratio by 1.5% to 25.7%.

Total company revenue was US$3 143.8 million, while net income was US$136.9 million, or US$0.30 per diluted share.

Interior’s Bureau of Ocean Energy Management (BOEM) issued conditional approval to Hilcorp Alaska LLC for its Liberty Project oil and gas development and production plan.

The company has announced that the Greater Western Flank Phase 2 (GWF-2) Project off the north-west coast of Australia has commenced gas production.