Business & Finance
Australia: Alcoa, Gearbulk Celebrate Naming of Dual-purpose Cargo Vessel
Officials from Alcoa of Australia and international shipping company Gearbulk Australasia gathered at Alcoa’s Kwinana shipping facility on Friday to celebrate the naming and maiden voyage of the 45,000 tonne MV Kuljak Arrow, a dual-purpose cargo vessel. The vessel will supply caustic soda to Alcoa’s
Wood Group Bags USD 396 Million UK North Sea Gig
Wood Group PSN has secured a major North Sea contract by Premier Oil to deliver integrated operations and maintenance support services to the Balmoral floating production vessel (FPV). The contract, estimated to be worth in the order of £250 million (USD 396.5 million) , will see Wood Group PSN prov
Repsol Sinopec Makes High-Impact Discovery Off Brazil
Statoil together with operator Repsol Sinopec and partner Petrobras has confirmed a high-impact discovery (*) in the Pão de Açúcar prospect offshore Brazil. The partnership announced today that it has made a high impact discovery in the Pão de Açúcar prospect located in the BM-C-33 block in the Camp
South Korea’s Samsung to Build Two More LNG Carriers for Golar
Golar LNG Limited announces that the Company has entered into firm contracts with Samsung Heavy Industries Co. Ltd for a further two LNG carriers. The two additional vessels, each with a capacity of 160,000cbm have a combined total cost of slightly above $400 million. The first of the carriers is sc
Providence Provides Update of its Operations Offshore Ireland
Providence Resources P.l.c., the London (AIM) and Dublin (ESM) quoted oil and gas exploration and production company, provides an operational update on its ongoing well operations in the North Celtic Sea Basin, offshore southern Ireland. The 48/24-10z Barryroe appraisal well is located in c. 100 met
South Korea: Seadrill Orders Two Drillships from Samsung
Seadrill has entered into turnkey contracts to build two new ultra-deepwater drillships at Samsung in South Korea. The construction of the drillships is scheduled for completion in the second and third quarter 2014. Total project price per drillship is estimated to be under US$600 million, which inc
South Korea: Seadrill Confirms Samsung Drillships Contracts
South Korea’s Samsung Heavy Industries on Friday announced that it had received contracts for the construction of two drillships without revealing who the costumer was. Today, Seadrill, a Norwegian/Bermudan offshore drilling contractor confirmed the deal. The construction of the drillships is schedu
Singapore: Swiber Achieves Record Performance in 2011
Swiber Holdings Limited, a world class integrated construction and support services provider to the offshore oil and gas industry today reported record performance in revenue of US$654.5 million for the full year ended December 31, 2011 (“FY2011”). The Group achieved a 7.1% increase in net profit to
UK: OPT Appoints New Managing Director
Ocean Power Technologies, Inc., a leading wave energy technology company, today announced the appointment of Timothy Stiven as Managing Director of Ocean Power Technologies Limited, the Company’s UK-based wholly-owned subsidiary, effective March 1, 2012. He succeeds Angus Norman, who is stepping dow
Turkmenistan: Dragon Oil’s Well Flows at 1,975 bopd
Dragon Oil plc, a Dubai-based international oil and gas exploration, development and production company, announces the successful completion and initial testing of the Dzheitune (Lam) 28/166 development well, off the coast of Turmenistan. The well, located in the Caspian sea was completed with a sin
MEO Australia Acquires 50 Pct Interest in Gulf of Thailand Block G2/48
MEO Australia Limited announces that its wholly owned subsidiary Rayong Offshore Exploration Limited has executed a binding farm-in agreement with Pearl Oil Offshore Limited to acquire a 50% Participating Interest in the Block G2/48 Concession in the Gulf of Thailand. G2/48 is located in shallow wat
USA: Austal Wins Construction Contract for Two JHSV
The U.S. Navy has exercised contract options funding the construction of the eighth and ninth Joint High Speed Vessel (JHSV), as part of a ten-ship program potentially worth over US$1.6 billion. The construction contract for these vessels is valued at approximately US$321.7 million. Austal USA’s Pre
Technip to Provide High-Tech Solutions for Guara & Lula Fields in Brazil
Technip was awarded by Petrobras a highly technological lump sum contract for the Guara & Lula Nordeste pre-salt field development located in the Santos Basin, offshore Brazil, at a water depth of 2,250 meters. The contract covers the manufacture of 24 kilometers of 6’’ gas injection flexible lines
Technip’s Pipes for Petrobras’ Pre-Salt Field in Brazil
Technip awarded contract by Petrobras to provide high-tech solutions for the Guara & Lula Nordeste pre-salt fields in Brazil. Technip was awarded by Petrobras a highly technological lump sum contract for the Guara & Lula Nordeste pre-salt field development located in the Santos Basin, offshore Brazi