Business & Finance
USA: Smart ROV Tools Safeguard Environment
Checking for residual fuel in a 70 year-old sunken wreck without opening the tanks and risking an environmental catastrophe needed a clever solution. The ingenious answer came from Global Diving and Salvage who created a unique sampling system that is mounted on a Saab Seaeye Cougar XT ROV and can p
UK: Pulse Tidal Plans to Deploy Demonstration Device Near Lynmouth
Pulse Tidal, the Sheffield based tidal power provider, has been awarded an Agreement for Lease by the Crown Estate for an area of seabed near to Lynmouth in Devon. The company plans to deploy a 1.2MW tidal power generating machine – England’s largest – in 2014, following consultation, environmental
CNOOC, ConocoPhillips to Pay USD 266 mln for Penglai Oil Spill Damage (China)
CNOOC Limited stated today that according to the news of its parent company, China National Offshore Oil Corporation (CNOOC), the compensation for marine ecological damage caused by Penglai 19-3 oil spill accident in Bohai Bay was in significant progress with the great effort made by the State Ocean
UK: IMCA Issues Guidance on Use of ‘Hold-Back’ Vessels During Diving Operations
New guidance has been produced by the International Marine Contractors Association (IMCA) on the use of ‘hold-back’ vessels during diving operations. These are towing (or other) vessels that provoke additional security for DP (dynamically positioned) vessels engaged in critical operations by means o
Providence Secures Capital for Drilling Programme (Ireland)
At the Extraordinary General Meeting of Providence Resources P.l.c., held on Friday, 27th April 2012 to approve the Placing of 13,148,930 new Ordinary Shares (as originally announced on 2nd April 2012), the special resolution considered and voted upon by the shareholders was approved. Commenting aft
The Netherlands: Dyneema Max Technology for Deepwater Mooring Ropes
Dyneema® Max is the culmination of a systematic development programme by DSM Dyneema to improve the creep performance of high modulus polyethylene (HMPE) yarn. First trialled as a mooring rope over 10 years ago, the early results with HMPE were promising, however, creep prevented its use as a deepwa
Pacific Rubiales Buys Into Block Z-1 Offshore Peru
Pacific Rubiales Energy Corp. announced today that it has reached an agreement with BPZ Resources, Inc. to enter into a series of transactions ultimately resulting in the acquisition of beneficial ownership of a 49% undivided participating interest in the Z-1 exploration and development block (“Bloc
Singapore: MPA Launches NGCP Challenge
Jointly organised by the Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute (SMI), the NGCP Challenge seeks to identify ideas that will achieve a quantum leap in port performance, productivity and sustainability for a new generation of container port that is set 10 y
Germany: ABB’s Offshore Wind Projects to Proceed as Planned
According to the Financial Times Deutschland, Swiss engineering compay ABB is expecting its offshore wind projects to advance as planned, without delays. Peter Terwiesch, head of ABB in Germany, said that profit margins for the projects are in a “normal development corridor.” Contrary to Siemens who
Germany: ABB’s Offshore Wind Projects to Proceed as Planned
According to the Financial Times Deutschland, Swiss engineering compay ABB is expecting its offshore wind projects to advance as planned, without delays. Peter Terwiesch, head of ABB in Germany, said that profit margins for the projects are in a “normal development corridor.” Contrary to Siemens who
NPD Starts Seismic Acquisition in Barents Sea (Norway)
The Norwegian Petroleum Directorate (NPD) started acquiring seismic in the southern part of the Barents Sea yesterday. “The entire first line of 67 kilometres was acquired before midnight. We are very satisfied with this start-up,” says Lars Jensen, the NPD’s project manager for this summer’s seismi
Norway: NPD Starts 8-Week Barents Sea Seismic Survey
The Norwegian Petroleum Directorate (NPD) started acquiring seismic in the southern part of the Barents Sea yesterday, 26 April, at 17:28 hours. “The entire first line of 67 kilometres was acquired before midnight. We are very satisfied with this start-up,” says Lars Jensen, the NPD’s project manage
Chevron: Production Drops, Earnings Rise (USA)
Chevron Corporation today reported earnings of $6.5 billion for the first quarter 2012, compared with $6.2 billion in the 2011 first quarter. Sales and other operating revenues in the first quarter 2012 were $59 billion, compared to $58 billion in the year-ago period. “In the first quarter, we conti
Norstec Aims to Maximise North Sea Market
Modus Seabed Intervention, one of the North East’s leading subsea specialist companies, believes membership of a new industry partnership will bring even greater success in the North Sea renewable energy market. Provisionally known as Norstec, the partnership is a global network of businesses aimed