Saudi Aramco has awarded a contract to Abu Dhabi’s National Petroleum Construction Company (NPCC) for four offshore platforms and associated subsea infrastructure for three offshore oilfields in Saudi Arabia. “These EPC contracts for Al Safaniya, Zuluf and Berri oilfields include engineering, procur
Vessel oversupply will persist in the LPG shipping market for the next two years, keeping freight rates under pressure across most size segments. However, the small vessel segment is the only category where fleet growth will be minimal, leading to a recovery in rates, according to shipping consultan
Gulf Bridge International (GBI) has finalised a loan refinancing deal that should allow the company to explore new business and investment opportunities and to further support its successful transformational journey. Namely, the first privately-owned submarine cable system in the Middle East, has se
A joint venture between Euronav NV and International Seaways has signed a five-year deal for the service of the FSO Africa and FSO Asia on the Al-Shaheen field, off Qatar, with the North Oil Company (NOC). NOC, the future operator of the Al-Shaheen oil field, is a JV company, which is 70% owned by Q
Ocean Energy Systems (OES) has shared the achievements in ocean energy sector during the Executive Committee (ExCo) meeting.
National Marine Dredging Company (NMDC) yesterday reported a sharp year-on-year decline in its profits by 85.2% in the first three months of 2017. According to the company filing to the Abu Dhabi Securities Exchange (ADX), NMDC’s profits fell to $421,900 (AED 1.55 million) in Q1-17, from $2.85 milli
Boskalis has completed the previously announced study into the costs of its head office organization, which will target total cost savings of EUR 30-35 million – resulting in the loss of around 230 jobs. This restructuring is part of the Corporate Business Plan 2017-2019 which Boskalis presented at
Dredging Today brings you an overview of the most popular stories from the past week (May 8-14, 2017). Caterpillar to Power the World’s Largest Split Hopper Dredger Caterpillar Marine has just announced that the world’s largest split hopper dredger is being built with a complete Cat® engine and pr
Subsea World News has put together a recap of the most interesting articles from the previous week (May 08 – May 14). Gazprom informed that the construction of the TurkStream gas pipeline has started in the Black Sea near the Russian coast. Pipelaying is carried out by the Audacia vessel owned by Al
Tidal Energy Today has compiled the top news from tidal and wave energy industry from May 8 – 14, 2017.
Atlantis Resources has formed a strategic partnership with South Korean offshore construction giant Hyundai Engineering & Construction for the development of ocean energy projects globally.
Israel’s shipping company Zim Integrated Shipping Services (ZIM) managed to cut its net loss during the first quarter of 2017 to USD 6.4 million, compared to a net loss of USD 56.3 million reported in the corresponding period a year earlier. The company’s total revenues increased by 4% to USD 655 mi
The Central Dredging Association has announced the program for their upcoming trademark biennial event – CEDA Dredging Days, set to take place from 9-10 November 2017 at Ahoy Rotterdam. “The event has been the primary international dredging conference in the CEDA region (Europe, Middle East, Africa)
Geophysical contractor Getech has received an extension of the deal for the provision of consultancy services to the Lebanese Petroleum Administration (LPA), in charge of managing the country’s petroleum sector. To remind, the Lebanese government re-launched its first offshore oil and gas licensing
