Business & Finance
Tow of USS Iowa Across San Francisco Bay Postponed
Yesterday’s scheduled final voyage of the USS Iowa from the Port of Richmond has been delayed by a weather system affecting the West Coast. Organizers will reschedule the tow to the Port of Los Angeles and all related activities following the passage of the weather system later this week. The four-d
Songa Eclipse Ready for Work Offshore Angola
Songa Offshore, a Cyprus based drilling contractor, has announced that Songa Eclipse semi-submersible drilling rig completed its extensive acceptance testing program and started its one well plus 18 month contract with Total E&P Angola on Saturday 19 May. The rig carried out top hole drilling at red
Sweden: Vattenfall Releases First Annual Report for Ocean Energy R&D Programme
Since 2006, Vattenfall AB R&D Projects has been investigating the potential for ocean energy to offer a major new renewable energy source. In 2009 Vattenfall established a formal ocean energy programme. Today – six years later – a first annual report has been created for the Ocean Energy Development
Finland: Wello Starts Series B Funding
Finnish renewable technology developer, Wello Ltd, has announced it has started Series B funding. Power Fund II (managed by VNT Management) and Finnvera Venture Capital have agreed on 3 Million euros funding package as part of the Series B funding. Discussions with additional investors to close furt
The Netherlands: Fugro Expects 8.8 pct HY1 Net Profit Growth
The year 2012 started with improved performance compared to the same period in 2011. The oil price remained on average around USD 120 per barrel (Brent). The sustained high levels of exploration and production spending by the oil and gas industry result in continued improvement of Fugro’s related ac
The Netherlands: Fairstar Inks USD 247 Million Syndicated Loan Facility
Fairstar Heavy Transport N.V. (FAIR) has signed a USD 247 million syndicated loan facility led by ING Bank. The facility provides the necessary liquidity to satisfy the outstanding payment obligations to Guangzhou Shipbuilding International (GSI) due under the construction contracts for the 50,000 D
Norway: Emerson Delivers Roxar Instrumentation for Brynhild Field
Emerson Process Management has won a multi-million dollar contact to deliver its Roxar subsea instrumentation to Lundin Petroleum’s Brynhild field in the North Sea. The contract was awarded by Aker Solutions, one of the world’s leading providers of oilfield products, systems and services, and covers
The Netherlands: Fugro Reports Growth in Revenue with Improving Market Conditions
For Fugro the year 2012 started with improved performance compared to the same period in 2011. The oil price remained on average around USD 120 per barrel (Brent). The sustained high levels of exploration and production spending by the oil and gas industry result in continued improvement of Fugro’s
Dutch Fairstar Gets Cash to Finance Newbuilds
The Netherlands based Fairstar Heavy Transport N.V. (FAIR) has signed a USD 247 million syndicated loan facility led by ING Bank. The facility provides the necessary liquidity to satisfy the outstanding payment obligations to Guangzhou Shipbuilding International (GSI) due under the construction cont
TGS Starts Two Multi-Client 2D Surveys in Northwest Europe
TGS has commenced the Europe 2012 summer season with two multi-client 2D surveys in cooperation with Fugro; North Sea Renaissance 2012 (NSR12) and Norwegian Barents Sea 2012 (NBR12). The NSR12 survey is 8,200 km and is a regional infill West of Shetland. The NBR 12 survey is 12,000 km and is a regio
EGS Americas Appoints New Technical Director & VP
EGS Americas Inc announces that it has enhanced the subsea survey capabilities with the recent addition of Mr. Shannon Frame. Mr. Frame brings with him fifteen years of offshore construction support, subsea positioning, geophysical survey and project management experience covering several discipline
EMU Limited to Exhibit at Renewable UK Global Offshore Wind
EMU Limited will be exhibiting at the Renewable UK Global Offshore Wind exhibition in London on 13th and 14th of June 2012, at stand 263. The company is a marine consultancy, survey and laboratory testing specialist which provides worldwide services in support of infrastructure planning, consenting
New CSD650 Joins Damen Standard Series (The Netherlands)
A new, larger and more powerful CSD650 joins the Damen Standard series of Cutter Suction Dredgers. The addition to the range results from a buoyant demand in the market and the continuous innovation of Damen Dredging Equipment, based on years of experience. The CSD650 is past its drawing table stage
India: ABG Shipyard to Deliver First Jack-Up Rig to Essar by December 2012
Reportedly, Essar Shipping, a part of Essar Group, is expected to take delivery of the first jack-up rig from Indian ABG Shipyard by December, followed by the second one six months after that. The jack-up rig forms an integral part of the $440 million order that ABG Shipyard bagged from Essar Shippi