Business & Finance
Norway: AGR Acquires 80 Pct Shareholding in Steinsvik
AGR has acquired an 80% shareholding in Steinsvik & Co AS. Headquartered in Stavanger, Steinsvik & Co supplies safety professionals, including safety coaches and internal control officers (ICO), to drilling rigs in the Norwegian market. The firm also provides HSE training for oil companies and perfo
UK: Ofgem Appoints Preferred Bidder for High Voltage Link to Lincs Offshore Wind Farm
Ofgem have appointed the preferred bidder for the first project in the second round of tenders (known as Transitional Round 2) to own and operate offshore links for the Lincs project. This is the second largest offshore transmission project to have reached this stage; the estimated value of the asse
Italy: Benetti Shipyard Launches First Classic Supreme 132’ Yacht
The technical launch of the first Benetti Classic Supreme 132’ was held on Friday, May 4th at the Benetti shipyard in Viareggio, the construction location of the six composite models of the Class line — from 93 to 145 feet. Following the customary preliminary steps, the yacht was launched into the w
UK’s Cairn Shells Out USD 453 mln for Agora Acquisition
Cairn, an Edinburgh-based private exploration and production company, has today completed the acquisition of Agora Oil & Gas AS (“Agora”) for a total consideration of approximately USD 453 million. Agora which is now a part of Cairn Group companies, is a Norwegian firm with non-operated exploration,
Koole Maritiem Removes Sunken Dredger from Harbour of Thorsminde, Denmark
In the afternoon of the 21st of November of 2011, the dredger Helle Saj travelling through a dense fog, collided with her sister ship Tonne, just 400 meters off the harbour entrance of Thorsminde and sank. Although the ship was lost, fortunately there were no casualties. Koole Maritiem, just complet
Koole Maritiem Completes Removal of Sunken Dredger in Denmark
In the afternoon of the 21st of November of 2011, the dredger Helle Saj travelling through a dense fog, collided with her sister ship Tonne, just 400 meters off the harbour entrance of Thorsminde and sank. Although the ship was lost, fortunately there were no casualties. Koole Maritiem, just complet
Lundin Spins Drill Bit at PL519 Offshore Norway
Swedish operator, Lundin Petroleum, has started drilling operations at exploration well 6201/11-3 in PL519 in Norway’s part of the North Sea. The well will target the Albert prospect, which is situated 65 km northwest of the Snorre Field in the northern North Sea. The main objective of well 6201/11-
German Transinsight Inks Five Year Licensing Agreement with Statoil for IGMAS
Transinsight announces a five year licensing agreement with Statoil for IGMAS+ (Interactive Geophysical Modeling Assistant), Transinsight’s software for interactive hybrid full tensor gravity (FTG) and magnetic modeling. IGMAS+ easily integrates constraining data into interactive modeling processes
Spring Energy Plans to Drill Its First Operated Well in 2013
Spring Energy will operate PL 550 & PL 551 with 80 % interest, and the PL 551 license is targeting to drill a well in 2013.
Norway: Aker Solutions on Right Track for Growth, Says Eriksen
Aker Solutions’ operating revenues in the first quarter of 2012 were NOK 9.8 billion, a 15.7 per cent increase from the first quarter of 2011. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1 002 million with a margin of 10.2 per cent. The positive trend has co
Dutch Fairstar Wins Float-Over Contract from Saipem
Fairstar Heavy Transport N.V. (FAIR) has been awarded a contract by Saipem S.p.A. to provide float-over and installation services to Saipem for the 8,000 tonnes CMMP Platform in the Persian Gulf, off-shore Iraq. Saipem has contracted the new 50,000DWT semi-submersible vessel FINESSE for the transpor
Subsea Cable Linking Guernsey and Jersey to France Encounters Cut
The subsea electricity cable serving Guernsey and Jersey has experienced a power cut, and due to that it has been taken out of action. According to BBC, Guernsey Electricity stated that the experts are trying to find the cause of the fault. The company explained that the underwater cable, which link
Croatia: Construction Contract for Container Terminal in Rijeka Signed
The design and construction contract has been signed at the Port of Rijeka Authority with a consortium of Italian companies and Croatian “Osijek Koteks” for the container terminal at the Zagreb pier. During the tender process for the most favourable bidder for designing and constructing the containe
Germany: Demag Cranes Publishes Q2 Financial Results
Demag Cranes reported continued growth in the second quarter of financial year 2011/2012. Year on year, the Group was able to increase its key reporting indicators comprising Group order intake, Group revenue and operating EBIT. Group order intake up 11.0% on prior-year period The Demag Cranes Group