Africa
Subsea in July
Subsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month. Industry majors made the news again last month with new contract awards, including Saipem’s field development project for the Zohr gas field, located off the Egyp
Oil edges up to $42 after slide, but glut still weighs
By Alex Lawler LONDON (Reuters) – Oil edged higher to $42 a barrel on Wednesday after hitting its lowest since April the previous day, supported by an industry report showing a fall in U.S. inventories and a weaker dollar. But prices could struggle to make much headway, analysts said, as sentiment r
Drewry: MR Charter Rates to Drop amid Falling Freight Rates
Time charter rates in the smaller chemical tanker vessel sizes are expected to remain stable over the next two years, but rates for the larger sizes, especially Medium Range tankers (MRs), will decline due to the impact of falling freight rates for clean petroleum products (CPP), shipping consultanc
Cobalt’s sale of Angola blocks to Sonangol ‘unlikely to close’
Cobalt International Energy has informed it is unlikely that its sale agreement with Sonangol for two blocks offshore Angola will close. The deal, worth $1.75 billion, according to which Sonangol was to acquire all of Cobalt’s 40% participating interest in Blocks 21/09 and 20/11 was made in August 2
Fugro Delivers Metocean Survey for Hess Ghana
Fugro has completed a 33-month period of metocean data acquisition for Hess Ghana Exploration, an indirect wholly owned subsidiary of Hess Corporation. Measurements were made at three locations in an area offshore western Ghana known as the Deepwater Tano/Cape Three Points block, in water depths of
Vaalco boosts Etame Marin interest (Gabon)
Vaalco Energy has signed a purchase and sale agreement to acquire an additional 3.23% participating interest in the Etame Marin Permit, located offshore Gabon. The company bought the interest from Sojitz Etame Limited, which represents the full interest owned by Sojitz in the concession. The transac
GSF Develops Plan to End Container Shipping Surcharges
Global Shippers’ Forum (GSF) has developed a plan to end container shipping surcharges within five years, GSF said during its Annual Meeting in Colombo, Sri Lanka. GSF is looking to end “the imposition of surcharges on shippers by 2020” through a series of actions “that will expose the scale and inj
Fugro acquires metocean data offshore Ghana for Hess
Fugro, a provider of survey services to the international offshore oil and gas industry, has completed a 33-month long metocean data acquisition for Hess Corp. offshore western Ghana. The company said on Tuesday that the data acquisition was done in the Deepwater Tano/ Cape Three Points block in a w
Drewry: Container Port Operators Eye Mergers and Acquisitions
Softening demand growth coupled with larger liner shipping alliances and bigger ships is moving the container ports industry towards a value sector from growth sector, albeit still highly profitable, according to a report released by global shipping consultancy Drewry. Global and international conta
Unique Group Bags Two ABS Nitrox Dive-ROV Systems Orders
Unique Group’s Diving & Life Support division has secured orders for two of its Hydra ABS nitrox surface dive-ROV systems from the client in Nigeria. The systems comprise a dive-ROV control and chamber container, machinery container, air and nitrox 10ft HP gas storage containers, two single basket L
Aqualis to oversee first journey of ‘world’s largest’ jack-up rig
Marine and offshore engineering consultancy Aqualis Offshore has been contracted by Noble Corporation to oversee the load-on, transportation and load-off operations of the first journey of the ‘world’s largest’ jack-up rig, the Noble Lloyd Noble. Aqualis Offshore said on Monday that its scope of wor
Libya Gears Up to Restart Oil Exports from Blocked Ports
Libya’s National Oil Corporation (NOC) revealed that it is working on restarting exports from three blocked oil ports, after the government reached an agreement with Libya’s Petroleum Facilities Guard (PFG) to reopen the ports of Ras Lanuf, Zuetina, and Es Sidra. The ports, which were blocked due to