Africa
Hercules Offshore bags 5-year deal for jack-up rig
Hercules Offshore has signed a five-year contract with a subsidiary of Eni S.p.A. for use of the Hercules 260 in West Africa. The dayrate under the contract will range from a minimum of $75,000 per day when the price of Brent crude oil is $86 or less per barrel, to a maximum of $125,000 per [&hellip
Saipem, Dangote in E&C Joint Venture (Africa)
Saipem has entered into a Joint Venture with Africa’s Dangote Group to create a new company named Saipem Dangote E&C. Saipem Dangote E&C is a new player in the Nigerian and Central/West African market. It aims to secure complex Engineering & Construction projects and ensure a realization capacity fo
Subsea Masters Sets Up Maintenance & Repair Base in Canary Islands
Subsea Masters, a subsidiary of UK-based GEV Group, has agreed a joint venture with a Las Palmas shipyard in the Canary Islands to provide rig maintenance and repair for the West African offshore drilling market. The agreement, signed with Zamakona Shipyard, is set to give the UK group a base from w
Saipem in JV with Dangote Group
Saipem has entered into a Joint Venture with Dangote Group, one of Africa’s companies, to create a new company named Saipem Dangote E&C. Saipem Dangote E&C is a new player in the Nigerian and Central/West African market, with high technical and financial capabilities, Saipem said. It aims to secure
ExxonMobil Equatorial Guinea deal ratified
The Ministry of Mines, Industry and Energy of Equatorial Guinea said that the government of Equatorial Guinea ratified the production sharing contract for Block EG-06.
ExxonMobil Equatorial Guinea deal ratified
The Ministry of Mines, Industry and Energy of Equatorial Guinea said that the government of Equatorial Guinea ratified the production sharing contract for Block EG-06.
Six Candidates in the Race for IMO Top Position
IMO receives nominations of six candidates for the position of the Secretary-General of the IMO.
Houthis Seize Bab al-Mandab Army Base
Yemen’s Houthi militias, rebel forces believed to be backed by Iran, seized a Bab al-Mandab army base overlooking the key shipping lane in the Red Sea, Bloomberg reports citing Mahfouz Ahmed, a soldier at the facility. The Associated Press quoted Yemeni military officials as saying that Houthi rebel
Fugro Clinches ROV Deal for Total’s Moho Nord
Fugro has been awarded a five-year contract with an estimated value of USD 100 million by Total E&P Congo. The agreement is for ROV services and remote subsea tooling in the Moho Nord field, situated around 75 kilometres off the coast of Pointe Noire in the Republic of Congo. Fugro will supply four
Fugro scoops $100M Total contract in Congo
Fugro has been awarded a five-year contract with an estimated value of $100 million by Total E&P Congo. The agreement is for ROV services and remote subsea tooling in the Moho Nord field, situated around 75 kilometres off the coast of Pointe Noire in the Republic of Congo. According to a press relea
Shipping Confidence Lowest in Years
Overtonnaging, the effect of lower oil prices and the growth of investment by financiers from outside shipping have led to overall confidence levels in the shipping industry falling to their lowest level in two-and-a-half years, the latest Shipping Confidence Survey from accountant and shipping advi
IUMI: Exposures, Risks Growing in Size and Complexity
Exposures and risks are growing in size and complexity and these will require stable solutions in the future, according to the International Union of Marine Insurance (IUMI). The cost of salvage and wreck removal is dramatically increasing. It is estimated that Superstorm Sandy is the sixth costlies