Africa
Afren Completes Nigerian Farm-Out Deal
Afren has completed a farm-out agreement with Lekoil (subject to Nigerian Ministerial Consent), in respect of a 17.14% participating interest in the OPL 310 licence located offshore Nigeria. Under the terms of the farm out, Afren will receive a total carry of up to US$50 million in respect of an exp
Gigaba Announces Major Boost for Durban Port Efficiency
Public Enterprises Minister, Mr Malusi Gigaba today unveiled Transnet’s seven new state-of-the-art ship-to-shore cranes at the Durban Container Terminal – Pier 2 as the company surges ahead in its drive to boost productivity and efficiency in arguably the Southern hemisphere’s biggest and busiest po
Morsi Calls for Rapid Implementation Steps for Suez Canal Corridor Project
President Mohamed Morsi has called for expediting the implementation steps for the Suez Canal Corridor project in view of its positive effect in supporting the Egyptian economy, luring Arab and world investments, providing thousands of job opportunities for the Egyptians in general and Sinai citizen
South Africa: Major Boost for Durban Port Efficiency
Public Enterprises Minister, Mr Malusi Gigaba today unveiled Transnet’s seven new state-of-the-art ship-to-shore cranes at the Durban Container Terminal – Pier 2 as the company surges ahead in its drive to boost productivity and efficiency in arguably the Southern hemisphere’s biggest and busiest po
Egypt: President Urges Suez Canal Project Implementation
President Mohamed Morsi has called for expediting the implementation steps for the Suez Canal Corridor project in view of its positive effect in supporting the Egyptian economy, luring Arab and world investments, providing thousands of job opportunities for the Egyptians in general and Sinai citizen
Top News of the Week May 6-10, 2013
The Netherlands: BigLift and RollDock Form New Company – BigRoll Global heavy lift and transportation providers BigLift Shipping and RollDock Shipping announced on May 6 the formation of a joint company, BigRoll, which will operate two newbuild MC-Class Module Carriers for the transportation of ultr
Top News of the Week May 6 – 11, 2013
Shell Bringing In GoM’s Second FPSO. Makes Stones FID (USA) Royal Dutch Shell plc made a final investment decision in the Stones ultra-deepwater project, a Gulf of Mexico oil and gas development expected to host the deepest production facility in the world. Karoon Finds More Oil at Bilby-1 Well (B
Top News – May 6 to 12, 2013
Van Oord: First Awards for “Stingray” Van Oord has been awarded two pipe lay projects for its new shallow water pipe lay vessel Stingray. Philippines: Boskalis Wins Important Contract Royal Boskalis Westminster N.V., has been awarded a contract by Shell Philippines Exploration B.V. for the install
Vantage Drilling Records Net Loss in Q1 2013, Enters LoA for Tungsten Explorer
Vantage Drilling Company reported a net loss for the three months ended March 31, 2013 of $24.9 million or ($0.08) per diluted share excluding approximately $98.3 million of charges for the early retirement of debt as compared to a net loss of $1.2 million or ($0.00) per diluted share for the three
UK: Somali Delegation Visits EU Naval Force Operation HQ in London
On May 8th the Somali Defence Minister and members of the Somali Cabinet visited the EU Naval Force Operation Headquarters in London. In view of the EU’s comprehensive approach to Somalia and its reinforced partnership with the country, the meeting was attended by the EU Naval Force Operation Comman
Shell Nigeria Tests Potentials of Five Gas Wells in Gbaran-Ubie Project
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) is testing the potentials of five gas wells as it progresses implementation of the Gbaran-Ubie project in Bayelsa State. The exercise which began two weeks ago involves brief simulated production to determine the potentials of the wells a
Containership Scrappage Rates to Break Previous Records
Containership scrappage rates are expected to exceed previous records this year, but cellular capacity removed due to demolition will still be surpassed by a ratio of one to three by newbuilding deliveries, reported Lloyd’s List citing Alphaliner. If the current recycling trend of boxships continues