Business & Finance
Norway: Centrica Buys Fogelberg Discovery from North Energy
North Energy has today entered into an agreement to sell its interest in licence 433 (Fogelberg) for NOK 70 million to Centrica Resources (Norway). Production licence 433, located in Norwegian sea, contains the Fogelberg gas/condensate discovery proven in 2010. North Energy holds 12 per cent of the
Expro Wins Safety Leadership Award at Subsea UK
Leading international oilfield services company Expro has won a coveted safety leadership award at a prestigious awards dinner in Aberdeen last night. Expro won the award from Subsea UK in recognition of its outstanding safety record. The safety leadership award is given to companies who can demonst
Expro Reaps Award at Subsea UK
Leading international oilfield services company Expro has won a coveted safety leadership award at a prestigious awards dinner in Aberdeen last night. Expro won the award from Subsea UK in recognition of its outstanding safety record. The safety leadership award is given to companies who can demonst
UK: Car Carrier Sector Capacity Management Leads the Way
The Carrier Car industry has emerged from the global recession with what looks like limited damage compared with the head-on collision others experienced. Drewry believes that this sector, with its small orderbook, is better positioned than most others in the shipping industry, who suffer from large
Norway: EMGS Reports Record Financial Results
EMGS, a company specializing in electromagnetic marine surveys, has announced record financial results, with quarterly revenues hitting a USD 57.8 million figure. Highlights in the fourth quarter 2011 include record-high financial results: Total revenues at USD 57.8 million for the quarter EBITDA of
Aubin Launches New Product Range at Subsea UK
Aubin, a leading independent supplier of specialist chemicals to the energy industry, is launching a new product range at this year’s Subsea UK exhibition. The first of these innovative products is DiveGel, a new application of the company’s game-changing Gel Lift System (GLS), which will revolution
Norway: Glitne to Produce Until 2014
The partnership in production license 048 B recently signed an agreement with Teekay to carry out maintenance work on the Floating Production, Storage and Offloading (FPSO) unit, Petrojarl I. As a consequence, Glitne is expected to keep production going until 2014. In the Plan for Development and Op
Greece: EDF Trading Charters Diana Shipping’s New Bulk Carrier
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, yesterday took delivery of the newly-built m/v “Los Angeles”, a Newcastlemax dry bulk carrier of 206,104 dwt that was contracted in April 2010. As previously announced, the m/v “Los Angele
Mitsubishi Buys Stake in Two German Offshore High-Voltage Cable Projects
TenneT has entered into a partnership with Mitsubishi Corporation by agreeing to sell a 49% equity stake in two German offshore high-voltage cable projects, BorWin1 and BorWin2. Mitsubishi’s aggregate equity commitment will total EUR 240 million. This partnership represents a milestone transaction i
GDF SUEZ Reports Solid Results for 2011 (France)
GDF SUEZ continued to report solid results for 2011, with EUR 90.7 billion in revenues, up +7.3% despite highly unfavorable weather conditions and the gas tariff freeze in France. EBITDA grew by +9.5% thanks to the contribution of International Power from February 2011, the commissioning of new asse
GDF SUEZ Reports Solid Results for 2011 (France)
GDF SUEZ continued to report solid results for 2011, with EUR 90.7 billion in revenues, up +7.3% despite highly unfavorable weather conditions and the gas tariff freeze in France. EBITDA grew by +9.5% thanks to the contribution of International Power from February 2011, the commissioning of new asse
UK: MMS Unveils Design for New Offshore Transfer Vessels
A HULL shipyard is to build and operate a fleet of vessels to serve giant offshore wind farms planned for the North Sea. MMS Ship Repair will both construct and run the boats, which will transfer technicians and equipment to the wind turbines. Capable of carrying 12 passengers, the vessels would be
UK: Seatronics Becomes Largest Purchaser of RESON Multibeam Sonars
Seatronics, an Acteon company, now owns the most RESON SeaBat® multibeam echo sounder systems in the world. As part of an ongoing commitment to providing a market-leading range of rental equipment, the multimillion dollar investment will offer Seatronics’ clients the latest SeaBat 8125-H and SeaBat
Germany: Voith, SCHRAMM to Develop Special Vessels
In the future, operators of offshore wind farms will have one point of contact for all technical and service issues: Voith and the SCHRAMM group will pool their vessel design expertise and will jointly develop special vessels for the transfer of staff and material to wind farms in the North and Balt