Africa
Cairn outlines timetable for Senegal development
Oil company Cairn Energy has unveiled its timetable for the development of the SNE oilfield offshore Senegal, which includes development concept selection in 2017 and first oil between 2021 and 2023. Cairn and its JV partners submitted a three-year evaluation work plan to the Government of Senegal i
Anadarko to splash $770 million on exploration, Mozambique LNG
Woodlands-based Anadarko on Tuesday said it would spend about $770 million this year into its liquefied natural gas (LNG) development in Mozambique and the company’s deepwater and international exploration program. The U.S. oil and gas company expects its initial capital budget for 2017 to be betwee
Boskalis Posts 2016 Results: Year of Extreme Transition
Boskalis has just announced that they achieved an operating net profit of EUR 276 million in 2016. Including non-cash impairment charges of EUR 840 million after tax the company reported a net loss of EUR 564 million (2015: net profit of EUR 440 million). Revenue declined by 20 per cent to EUR 2.60
K Line Faces Penalty for Price-Fixing in South Africa
Japanese shipping company Kawasaki Kisen Kaisha Ltd (K Line) is facing a fine for its alleged involvement in a price-fixing cartel, according to South Africa’s competition commission. The commission said it had recommended a fine equivalent to 10 percent of K Line’s local turnover. The authority’s i
International offshore rig count goes further down in February
The international offshore rig count for February 2017 was down both sequentially and year over year, which is the third time in a row, according to Baker Hughes’ monthly rig count reports. The report by the oilfield services provider shows that the international offshore rig count for February 2017
Amec Foster Wheeler scores Shell deal
British multinational consultancy and engineering company Amec Foster Wheeler said it has won a five-year deal with a unit of the Hague-based LNG giant Shell. Under the enterprise framework agreement, Amec Foster Wheeler will provide services for Shell Global Solutions International’s downstream pro
Cairn: SNE’s fifth appraisal well ‘in line with expectations’
Following drilling, logging, drill stem testing, the setting of pressure gauges, and completion of operations, Cairn Energy has informed that the results of the SNE-5 appraisal well offshore Senegal are “in line with expectations.” Cairn, as the operator, started drilling the SNE-5 appraisal in Janu
BBC Caribbean Crew Released from Captivity
Eight Russian and Ukrainian seafarers who were kidnapped from their vessel BBC Caribbean have been released after being held in captivity for 26 days. German-based Briese Schiffahrts, the owner of the 2008-built general cargo ship, said that the seven Russian and one Ukrainian citizen were released
Erin Energy hires Pacific Bora drillship for Oyo drilling
Oil company Erin Energy has executed a drilling services contract with Pacific Drilling for the use of the Pacific Bora drillship offshore Nigeria. The drillship was hired for drilling operations on the Oyo-9 deepwater well offshore Nigeria, Erin Energy said on Monday. Under the conditions of the co
Military Conflicts Close 2 Oil Ports in Libya
Military conflicts have forced two of Libya’s oil ports to close, negatively impacting the country’s crude exports, Bloomberg reported. In a fight against Khalifa Haftar’s force called Libyan National Army, the Islamist Benghazi militia seized the ports of Es Sidra and Ras Lanuf on March 3. Conseque
DW: Vessel contractors preparing to bounce back as market shows signs of balance
The announcement on the 28th February of Emas Chiyoda’s bankruptcy is the latest in a long line of vessel contractors to fall victim to the downturn since January 2015, according to Douglas-Westwood’s latest DW Monday report. Multiple companies such as Cal Dive, Ceona, Cecon, Hercules Offshore, Hark
Drewry: Southern Africa Imports from Asia on Recovery Path
Ailing South Africa imports from Asia could see a small recovery in 2017, as improving demand and capacity management helps to lift southbound spot rates to a 26-month peak, according to shipping consultancy Drewry. Containerized imports from Asia to Southern Africa slumped by 7.8% in 2016 to their