Africa
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (June 20 – June 26). Subsea 7 plans to resize its global workforce to approximately 8,000 by early 2017, down from the current level of 9,200. Consultation with employees and employee representatives w
DredgingToday.com Podcast: WODCON XXI
Welcome to the first DredgingToday.com Podcast, with our host Rosie Moth of RedMeters.com. In this episode we will be discussing last week’s World Dredging Congress & Exposition (WODCON) dredging conference with industry experts: Jay Wise of Kruse Integration, Steve Rutherford of Caterpillar Industr
Moody’s Outlook on Global Shipping Sector Stays Negative
As the shipping industry is expected to see its earnings worsen, while freight rates are likely to remain “depressed amid ample supply,” the outlook for the global shipping industry over the next 12-18 months is negative, according to Moody’s rating agency. The aggregate EBITDA of Moody’s-rated ship
BIMCO Covers Shipping Contract Novation Loopholes
BIMCO has published three standard novation agreements that provide a legal framework to change one of the original parties to a contract. Corporate changes such as restructuring, sale of a company or sale of part of a company’s interests may make it necessary to replace an original contracting part
Report: Sonangol says Kwanza block holds more than 800 mmboe
Angola’s state-owned oil company Sonangol has reportedly provided an estimate of the reserves found in the Kwanza basin, offshore Angola. According to a Reuters article on Wednesday titled: “Angola state oil firm finds gas in Kwanza basin“ the oil and gas company said the reserves could total 813 mi
Portugal gets LNG cargo
REN-operated Sines LNG import terminal in Portugal received a cargo of the chilled fuel on Tuesday, shipping data by the Port of Sines showed. The cargo has been delivered from Nigeria LNG’s Bonny Island liquefaction plant onboard the 175,000-cbm LNG Abuja II. The vessel is expected to depart soon f
Wentworth’s Tembo-1 gas well development in Mozambique approved
East African oil and gas explorer Wentworth Resources has received governmental approval for its Tembo-1 gas discovery appraisal plan in Mozambique, becoming operator and increasing its interest from 11.59 percent to 85 percent.
Bristow to launch rescue and recovery service for Nigeria’s oil & gas industry
Bristow Helicopters (Nigeria) has announced a new helicopter rescue and recovery (RRS) service for Nigeria’s oil and gas industry. Bristow said on Tuesday that the new service, expected to launch in August 2016, will provide life-saving assistance, currently not available in the country’s aviation l
EY: Private equity firms set to increase investment in O&G sector
Private equity (PE) firms are preparing to deploy capital into the global oil and gas sector with 25% planning acquisitions before the end of the year and 43% by the first half of 2017, according to an EY global survey of 100 PE firms active in the sector. With US$971.4b of PE dry powder from June [
Damen Shoalbuster for SMIT Amandla Marine
The second of two Damen Shoalbuster 3009 multi-purpose workboats for SMIT Amandla Marine has been named in a ceremony at Damen Shipyards Cape Town, South Africa. Named the Aogatoa, the vessel is the second of two shoalbusters 3009 ordered by SMIT Amandla Marine for the De Beers contract and built at
OneSubsea Grabs Zohr Contract
OneSubsea has been awarded an engineering, procurement and construction contract totaling more than $170 million from Belayim Petroleum Company (Petrobel). OneSubsea will supply the subsea production systems for the first stage of the Zohr gas field, located in the Shorouk Concession, offshore Egypt
Egypt: OneSubsea gets to work at Mediterranean’s largest gas discovery
OneSubsea, a Schlumberger company, has been awarded an engineering, procurement and construction contract totaling more than $170 million from Belayim Petroleum Company (Petrobel). OneSubsea will supply the subsea production systems for the first stage of the giant Zohr gas field, discovered by Eni