Africa
Fitch: Current oil prices unsustainable in the long run
Average full-cycle costs at major European oil companies fell by 13% last year, according to Fitch Ratings’ analysis. All-in upstream costs remain well above current oil and gas prices, but the integrated business model of these firms make them more resilient to low crude prices. According to the cr
Kosmos Hits Gas Offshore Senegal
Kosmos Energy has made a significant gas discovery at its Teranga-1 exploration well offshore Senegal. Located in the Cayar Offshore Profond block approximately 65 kilometers northwest of Dakar in nearly 1,800 meters of water, the Teranga-1 well was drilled to a total depth of 4,485 meters. The well
PA Resources divests Tunisian assets
PA Resources, a struggling Swedish oil company, has divested some more of its assets. This time in Tunisia. The company on Monday said it executed a sale and purchase agreement to sell its entire Tunisian asset portfolio, both onshore and offshore, to ETAP, the Tunisian national oil company, PA Reso
‘Significant’ gas discovery for Kosmos Energy offshore Senegal
Exploration and production company Kosmos Energy has made a significant gas discovery at its Teranga-1 exploration well offshore Senegal. The Teranga-1 well was drilled to a total depth of 4,485 meters. The well, located in the Cayar Offshore Profond block approximately 65 kilometers northwest of Da
AMP: Abandoned Tanker in Liberia No Longer Panama-Flagged
The crewless tanker that washed ashore near Robertsport, northern Liberia coast last week, the Tamaya 1, does not belong to Panama’s register of ships any more, Panama Maritime Authority (AMP) said in a statement. According to the AMP’s director general Fernando Solorzano, the ship’s registration fr
Offshore Wind Industry Gearing Up for Vessel Directory 2016
The offshore wind industry will soon launch its latest reference guide: the Offshore WIND Vessel Directory 2016. This third edition of the directory, produced in close cooperation with the vessel builders and operators in the industry, offers an updated overview of the available vessels in the marke
Sterling completes Ambilobe block exit (Madagascar)
Sterling Energy plc has completed its withdrawal from the Ambilobe block, offshore Madagascar. To remind, the AIM listed oil and gas exploration company on April 28, 2016, said its wholly owned subsidiary, Sterling Energy (UK) Limited would exit the block, to focus on shorter cycle revenue generatin
Forum Subsea Expands Rental Portfolio
Forum Subsea Rentals, a subsidiary of Forum Energy Technologies, has placed a rental equipment order with subsea technology provider, Sonardyne International. According to Forum, some of the equipment will deployed within its global rental pool, however the majority is committed to secured field dev
Forum Subsea Rentals expands offering with Sonardyne equipment
Subsea equipment provider, Forum Subsea Rentals, placed has a ‘multi-million’ order for high performance acoustic position reference systems produced by Sonardyne International. Forum Subsea Rentals, a subsidiary of Forum Energy Technologies, said its new equipment will be deployed in their global r
MSI Supports Shell Off Tanzania
Metocean Services International (MSI) has deployed a metocean mooring array offshore Tanzania for Shell (formerly BG). With water depths ranging from 53m to 2,620m, the array comprises 2 AXYS Technologies WatchMate metocean buoys as well as 12 subsea moorings, measuring waves, currents and water qua
Popular news, May 2 – 8, 2016
The most popular news of the week
BIMCO: First Quarter without Boxship Orders since 2009
The overcapacity in the container shipping sector seems to have finally struck a nerve as owners abstained from ordering new boxship capacity for the first time in years. According to BIMCO, the first quarter of this year was the first time since the second quarter of 2009 that three months have pas