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Australian LNG operator Santos on Friday said it plans to cut more costs in an attempt to plug debt holes and preserve cash as global oil and gas prices continue to fall world-wide. Santos has already in November last year initiated a A$3.5 billion cash raising to plug the debt holes caused by low oil prices. “The oil industry has […]
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Business & Finance, Equipment, Operations & Maintenance, Research & Development
The Sotenäs Wave Power Plant on the Swedish West Coast has started generating electric power to the Nordic Electricity Grid. The connection of the six meter diameter buoys to the corresponding linear generator Wave Energy Converters on the seabed represents the final step in bringing each unit on line, together making up a system establishing […]
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Environment, Research & Development, Technology
World Wildlife Fund (WWF) Canada, an international conservation organization, has supported in-stream tidal energy developments in the Bay of Fundy, Nova Scotia, Canada. The basis of WWF-Canada’s support is that tidal power generation, if done responsibly, can reduce GHG output, stimulate economic activity for the Nova Scotia Province and ensure the Bay of Fundy’s marine ecology […]
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Governor Tom Wolf announced yesterday that the Philadelphia Regional Port Authority (PRPA) has developed a shortlist of potential developers for the Southport Marine Terminal Complex at the Port of Philadelphia. “This announcement represents a vital step in our plan to ensure a timely and responsible development of the Southport Marine Terminal,” Governor Wolf said. “My […]
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Sif Holding N.V., a Dutch manufacturer of foundation components for offshore wind and offshore oil & gas markets, intends to proceed with the Initial Public Offering (IPO) and listing of its ordinary shares on Euronext Amsterdam. The intended IPO will consist of a secondary offering only, of at least 35% of the company’s shares. The shares will […]
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Sif Holding N.V., a Dutch manufacturer of foundation components for offshore wind and offshore oil & gas markets, intends to proceed with the Initial Public Offering (IPO) and listing of its ordinary shares on Euronext Amsterdam. The intended IPO will consist of a secondary offering only, of at least 35% of the company’s shares. The shares will […]
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China National Offshore Oil Corporation (CNOOC) informed on Monday it will be reducing its capital expenditure for 2016 that will be no more than RMB 60 billion ($9.1B). Of that amount, the capital expenditures for exploration, development and production will account for around 19%, 64% and 13% respectively. CNOOC’s capex for 2015 was in range of […]
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The world’s largestcorporate buyer of LNG,South Korea’s Kogas, hired Unitel Technologies to perform the front-end engineering and design (FEED) work on small-scale LNG plants network.
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Statoil, a Norwegian oil and gas major, has cut the cost estimate for the development of one of the five biggest oil fields on the Norwegian Continental Shelf, Johan Sverdrup. The field, operated by Statoil, is located on the Utsira Height in the North Sea offshore Norway, 155 kilometres west of Stavanger. The field will be […]
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Authorities & Government, Business & Finance
The Development Bank of Japan (DBJ) and Japan Wind Development (JWD) are planning to establish a JPY 50 billion (USD 423 million) fund to finance large-scale wind power generation projects, DBJ said in a statement. The fund, provisionally named Japan Wind Development Co., Ltd., is a 50:50 joint venture between DBJ and JWD, and it will […]
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Independent Oil and Gas (IOG) has informed that the Skipper appraisal well, in the UK North Sea, has been delayed until there is greater stability and clarity in the oil market. According to IOG, this decision has been made following recent oil price movements and bad weather in the North Sea, and the company believes […]
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The Port of Longview is working to redevelop the port’s Berth 4 facility, which has sat idle for the past 27 years. Once home to the now defunct Continental Grain Company, the site is currently humming with activity as contractors from Advanced American Construction work to construct a series of dolphins. Dolphins are structures that extend […]
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The Port of Cork Company has just introduced a plan for the Ringaskiddy Port redevelopment project. The proposed works comprise the construction of the marine and civil engineering infrastructure elements for a new container terminal and multi-purpose berth at Ringaskiddy Port. The Port of Cork will use the negotiated procedure for the award of this contract. This […]
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The Moravian Church Conference Sirius (T-Rex) Marina plans have entered the Army Corps permitting process and just been released for Public Comment, with a due date of January 25th. The plans call for construction of a 92 slip marina for vessels 35 to 70 feet in length, an on-shore 30 powerboat dry stack storage building […]
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Certain creditors of the South Korean shipbuilder STX Offshore & Shipbuilding Co. voiced their disapproval of a financial aid package to the troubled shipbuilder worth KRW 450 billion (USD 385 million), Yonhap news agency reports. As informed, Woori Bank and KEB Hana Bank, who hold 10 percent stake in the yard, do not want to back the bailout plan amid […]
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Business & Finance, Operations & Maintenance, Project & Tenders
Statoil and its partners submitted the plan for development and operation (PDO) of the North Sea Oseberg Vestflanken 2 to the authorities on Friday. Statoil and its licence partners have decided to develop the Oseberg Vestflanken 2 covering the Alpha, Gamma and Kappa oil and gas structures. They are located around eight kilometres northwest of […]
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Statoil and its partners submitted the plan for development and operation (PDO) of the North Sea Oseberg Vestflanken 2, offshore Norway, to the authorities on Friday, December 18, 2015. Statoil says that the development will provide in excess of 100 million barrels of oil equivalent. According to the Norwegian Petroleum Directorate (NPD), the development cost […]
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Business & Finance, Equipment, Operations & Maintenance, Research & Development
The 120-ton subsea generator switchgear of the Sotenäs Wave Energy Plant on the Swedish West Coast has been deployed and connected to the Swedish National Grid via a 10 km long subsea cable. A number of Wave Energy Converters (generators) were also connected to the subsea switchgear and the wave park will consequently go live […]
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The Netherlands has a new National Water Plan, Melanie Schultz van Haegen, the Minister of Infrastructure and the Environment, announced today. Minister Schultz van Haegen and Martijn van Dam, State Secretary for Economic Affairs, recently discussed how, for the next 6 years, the Netherlands will protect itself from water, how the water will be made cleaner […]
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The development of urbanizing river delta areas calls for an adaptive planning, based on flexible strategies that include the use of nature as an infrastructure. This was a key message at the meeting ‘Adaptive planning and development for urbanizing deltas’ where international knowledge organisations told about their activities to develop more knowledge on the challenges […]
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Harbor-Port Development Partners (HPDP) has started talks with China Communications Construction Company Limited (CCCC), the world’s largest port construction and design company, on arrangements related to the design, construction and ownership of a marine container terminal in Sydney, Nova Scotia. CCCC plans to undertake the design and construction of Sydney’s container terminal including all required infrastructure. In […]
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Harbor Port Development Partners, Inc. (HPDP) has reached an agreement with China Communications Construction Company Limited (CCCC) to discuss arrangements related to the design, construction and ownership of the marine container terminal, as part of the deep water port development project in Sydney, Nova Scotia. CCCC plans to undertake the design and construction of Sydney’s container […]
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Spain’s Repsol is reportedly planning to sell its stake in BP-operated Tangguh LNG project in Indonesia. Repsol, which owns a 3.06 percent stake in the LNG project through Talisman Energy, may fetch as much as $300 million from the sale, according to a report by Bloomberg. The Spanish company has hired Goldman Sachs Group to help find […]
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The LNG shipping market has been faced with lower rates amid growing LNG carrier fleet, a drop in liquid fuel prices and a lower demand for LNG in Asian markets. On the other hand, lower shipping rates are good news for sellers and end users of LNG, which is becoming ever more popular as an alternative […]
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EnQuest, a UK-based petroleum exploration and production company, has informed that its Scolty/Crathes development, in the UK North Sea, has been approved and sanctioned. Scolty and Crathes oil fields are located in Blocks 21/8a, 21/12c and 21/13a of the central North Sea sector of the UK continental shelf in an area with water depths varying from 95 […]
