Business & Finance
Nord Stream Line 2 Hits the Seafloor
The Nord Stream Project took another major step forward today with the completion of offshore pipelay of the second of its twin 1,224-kilometre gas pipelines through the Baltic Sea ahead of schedule. Following extensive pre-commissioning and commissioning, Line 2 is scheduled to begin transporting g
Nord Stream Lays Line 2 Ahead of Schedule
The Nord Stream Project took another major step forward with the completion of offshore pipelay of the second of its twin 1,224-kilometre gas pipelines through the Baltic Sea ahead of schedule. Following extensive pre-commissioning and commissioning, Line 2 is scheduled to begin transporting gas tow
UK: STL Gets Government Funding to Develop Offshore Personnel-Access System
STL Research announce that they have recently been awarded Government funding to accelerate their project to develop an offshore personnel-access system. Code-named Neptune, the system will space-stabilise its personnel carrier regardless of the motion of the ship on which it is mounted so that pers
Malaysia’s Bumi Armada Bags Caspian Sea Gig from Lukoil
Malaysia-based Bumi Armada Berhad has received an engineering procurement, installation and commissioning (EPIC) contract valued at approximately USD 200 million from the Russian oil major, OAO Lukoil. The EPIC contract is for the Filanovsky field development in the Russian sector of the Caspian Sea
Germany: TenneT Revenue Reaches EUR 1.5 Billion in 2011
Electricity transmission operator TenneT has maintained a high security of supply in 2011, while transmission rates remained at a low level. TenneT also contributed to making the energy supply in north-west Europe more sustainable. Major investments have gone into strengthening and expanding the gri
Orca Names New COO to Boost Its Operations in Tanzania
Orca Exploration Group Inc. announces that Beer van Straten has been named Chief Operating Officer effective immediately. He will assume responsibility for the Company’s field operations including a large scale development and exploration drilling program in Tanzania. He replaces Dale Rollins who re
Cargotec Secures MacGregor GLH Cranes Order from Chinese Shipyard
Cargotec has confirmed a contract worth around EUR 10 million from a Chinese shipyard to deliver twenty 120-tonne MacGregor GLH cargo handling cranes for ten general cargo vessels. The cranes will be delivered during 2012 and 2013. The order is booked in the first quarter of 2012. “MacGregor cranes
UK: STL Wins Government Grant to Develop Offshore Personnel-Access System
STL Research announce that they have recently been awarded Government funding to accelerate their project to develop an offshore personnel-access system. Code-named Neptune, the system will space-stabilise its personnel carrier regardless of the motion of the ship on which it is mounted so that pers
The Netherlands: IHC Merwede Profit and Revenues on the Rise
IHC Merwede develops and builds innovative vessels, advanced equipment and life-cycle support services for the dredging, mining and offshore industries. The company’s international outlook and expanding portfolio have helped it to record increased revenue and profit figures for 2011, and maintain it
Ireland: Fastnet’s 3rd Windfarm Support Vessel Launched
Leading Independent Marine Plant and Wind Farm Support Vessel Operator Fastnet Shipping Limited announced the launch of their 3 rd Windfarm Service and Support Vessel “Fastnet Skua” bringing their total fleet of Windfarm Support Vessels, Tugs, Jack up Barges and Pontoons to over 22 vessels. Fastnet
Norway: TTS Group Sells Its Drilling Equipment Business
TTS Group ASA have today entered into an agreement to sell its drilling equipment business, a part of TTS Energy divison, and relevant subsidiaries, to Cameron International Corporation for USD 270 million, plus a turnover based earn-out model for a three-year period. Offshore Handling (cranes and w
USA: Mercom Announces Report on Funding and M&A Activity for Wind Energy Sector
Mercom Capital Group, llc, a global clean energy communications and consulting firm, today released its report on funding and merger and acquisition (M&A) activity for the wind energy sector for the first quarter of 2012. Venture capital (VC) funding in the first quarter came in strong with $240 mil
MPI Workboats Takes Over New Crew Transfer Vessel from South Boats, UK
South Boats Special Projects Ltd. announced the launch and commissioning of its 56th offshore wind farm crew transfer vessel, ‘MPI Cardenio’. The vessel is a fourth of class South Catamaran 17m and is the first of a two boat order from MPI Workboats Ltd. to be delivered. This vessel compliments the
Awilco Drilling Signs LOI for WilPhoenix (UK)
UK’s Awilco Drilling PLC has signed a Letter of Intent with an undisclosed operator for the provision of WilPhoenix for a term drilling program. The program will start in direct continuation from the Premier contract and is firm until 28th February 2014 with options for up to an additional 250 days.