Africa
Douglas-Westwood: Floating Production Expenditure to Double by 2017
Douglas-Westwood (DW) forecast that between 2013 and 2017 $91bn will be spent on floating production systems (FPS) – an increase of 100% over the preceding five-year period. This growth is driven by factors such as a larger proportion of newbuilds and conversions compared to redeployments, a greater
Sierra Rutile Reveals Successful Dredge Study (Sierra Leone)
Sierra Rutile Limited has announced the results of its feasibility study into a new large dredge. Highlights: 1. Exceptional feasibility study economics: – US$472 million project pre-tax NPV110; – US$301 million project post-tax NPV10; – 68% pre-tax IRR2, 59% post-tax IRR; and – 12-month project pay
Rialto MD Leaves for Personal Reasons
Rialto reports that the Company’s Managing Director Jeff Schrull has informed the Board that he intends to relocate back to Perth, Western Australia from the Company’s current base of operations in London by mid-2013. The decision by Schrull is further to a number of ongoing Rialto Board discussions
South Africa: Durban Port Expansion Plan Causes Major Concerns
Durban residents say they will not give up their homes to make way for a multi-billion port expansion plan. Cardinal Wilfred Napier, chairman of the KwaZulu-Natal Inter-Religious Council, stated: “When a plan like this is presented to you under the pretence of following procedure, all groups need to
Lukoil Inks PSC for Offshore Block in Ivory Coast
Today, in Abidjan (Republic of Cote-d’Ivoire) LUKOIL Overseas, subsidiary of LUKOIL, has signed with the government of the country a production sharing agreement on offshore block CI-524 in the Gulf of Guinea. Block CI-524 covering the area of 450 square kilometers with water depth ranging from 800
Statoil Selects KBR for Tanzania LNG Pre-FEED
Statoil Tanzania AS (Statoil) has hired KBR to perform pre-front end engineering and design (pre-FEED) studies for a prospective liquefied natural gas (LNG) facility in Tanzania, East Africa. The pre-FEED study is designed to help Statoil further assess the viability of developing an LNG facility to
KBR Wins Tanzania LNG Contract
KBR announced that it was awarded a contract by Statoil Tanzania AS to perform pre-front end engineering and design (pre-FEED) studies for a prospective liquefied natural gas facility in Tanzania, East Africa. The pre-FEED study is designed to help Statoil further assess the viability of developing
Red Spider Completes Job Offshore Equatorial Guinea
Red Spider, the Remote Open Close Technology (ROCT) specialist delivering major savings and reduced risk to the oil and gas industry, has successfully completed an operation worth over £300,000 with a major energy company using its eRED-FB technology off the coast of Equatorial Guinea. Red Spider in
Red Spider Successfully Completes Operation Off Equatorial Guinea
Red Spider, the Remote Open Close Technology (ROCT) specialist delivering major savings and reduced risk to the oil and gas industry, has successfully completed an operation worth over £300,000 with a major energy company using its eRED-FB technology off the coast of Equatorial Guinea. Red Spider in
TI Africa, Maersk Oil Qatar Ink New Agreement for Provision of FSO
The Executive Committee of Euronav NV has announced that TI Africa Limited, the owner of FSO Africa, has signed a new agreement with Maersk Oil Qatar AS (MOQ) for the provision of FSO services on the Al Shaheen field offshore Qatar. The contract has a fixed duration of five years beginning 1 October
Hydrex Conducts Underwater Vessel Repair in Gabon
When the fore as well as the aft stern tube seals of a 247-meter tanker were leaking, the vessel was not given permission to enter any ports. Unloading the vessel at sea and going to drydock seemed the only option for the vessel, until Hydrex sent a diver/technician team with one of the company’s fl
Serica Acquires 3D Seismic Data Offshore Namibia
Serica Energy plc announces that it has completed the acquisition of 4,180 square kilometres of 3D seismic data in its Luderitz Basin Blocks, offshore Namibia. The survey, conducted by Serica on behalf of its partners in the Licence, BP, NAMCOR and IEPL, commenced on 10 May and took four and a half