Business & Finance
Hyperdynamics Seeking Experienced Partner for Work Offshore Guinea
Hyperdynamics Corporation announced today that it has engaged BofA Merrill Lynch as financial advisor to assist the Company in connection with a potential sale of a portion of its 77% interest in the 25,000-square-kilometer oil and gas exploration concession offshore Guinea in West Africa. Hyperdyna
Russia: Bumi Armada Bags USD 200 Million Contract from Lukoil
Bumi Armada Berhad announced that its wholly-owned Russian subsidiary, Bumi Armada Caspian LLC received an engineering procurement, installation and commissioning (EPIC) contract valued at approximately USD 200 million from the Russian oil major, OAO Lukoil (“Lukoil”) through its subsidiary, OOO Luk
DONG Energy: Costs for Siri Platform Repair Rising (Denmark)
As announced in June 2011, Denmark’s leading energy company, DONG Energy is implementing a permanent repair solution necessary to restore the integrity of the Danish North Sea platform Siri. Following the progress of the project, the repair cost estimate has been increased from the initial expected
USA: Deep Down Wins Several Contracts from Oil Major
Deep Down, Inc., an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services recently announced that it has been awarded multiple contracts worth nearly 8 million dollars from a major international oil and gas operator. Deep
The Netherlands: IHC Merwede’s Revenue Increases to EUR 1.5 Billion
In the past year, IHC Merwede’s revenue has increased by four per cent to reach € 1.05 billion. The company’s net profit has also increased to € 103 million with a solvency ratio of 40%, demonstrating that IHC Merwede is in strong financial health and able to implement its growth strategy. With sale
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
UASC Takes Delivery of Its Newbuild Container Vessel from SHI, South Korea
United Arab Shipping Company (UASC) has taken delivery of its eighth A13 (13,500 TEU) container vessel “AL QIBLA”, during a Naming Ceremony held at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea, where the vessel was named by her sponsor, Mr Othman Ibrahim Al-Issa, Chairman of UAS
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
Brazil: Petrobras CEO Meets Hillary Clinton
On Monday, April 16, Petrobras’ CEO, Maria das Graças Silva Foster, met with the U.S. Secretary of State, Hillary Clinton, in Brasilia. The meeting, which was an initiative of the U.S. government, took place 45 days after the U.S. Deputy Secretary of State, William Burns, visited the Company’s headq
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
UAE: Regional Transport Ministers Visit Khalifa Port and Kizad
ADPC welcomed a high profile delegation of regional transport ministers to the Khalifa Port and Kizad Visitor Centre at Taweelah recently. The delegates were given a tour of the modern and highly sophisticated visitor centre at Taweelah, which brings the futuristic Khalifa Port and Kizad to life. H.
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