Business & Finance
USA: Austal Hosts Keel Laying Ceremony for Second Joint High Speed Vessel
On November 8, 2011, Austal held a keel-laying ceremony for its second Joint High Speed Vessel (JHSV), “Choctaw County” (JHSV 2), one of seven Austal-designed 103-metre US Navy Joint High Speed Vessels under contract with the US Department of Defense. Captain Henry W. Stevens, III (USN), Strategic a
Niko Pens Largest Deepwater Contract in Indonesia’s History
Niko Resources Ltd. announced that it has signed a contract with a subsidiary of Diamond Offshore (“Diamond”) – a major deepwater drilling contractor. This is the largest deepwater exploration contract in the history of Indonesia and will dramatically increase Indonesia’s opportunities for major hyd
Shell to Become Operator of Guyane Maritime Permit in French Guiana
Northern announces that earlier today, Tullow Oil Plc (“Tullow”) in their Interim Management Statement provided the following update on well GM-ES-1, in the Guyane Maritime Permit, in which Northern has a 1.25% interest: “In French Guiana, the Zaedyus exploration well discovered 72 metres of net oil
China: OOCL Wins Lloyd’s List ‘Ship Operator of the Year’ Award at Asia 2011
OOCL announce that it has been awarded the ‘Ship Operator of the Year’ at the Lloyd’s List Awards, Asia 2011 presentation ceremony held on October 26, 2011 in Hong Kong. In the selection criteria, companies were judged on their performance over the past year in terms of their business development, s
UK: Investors in People Awards Jee with Gold Status
Investors in People has recognised progress within subsea engineering firm Jee Ltd by awarding the independent company gold status. “This is brilliant news and a true endorsement of a lot of changes which have been implemented over the last 3 years to improve the business by developing and investing
Norway: Technip Secures Statoil PRS Contract Extension
Technip was awarded the options for a two-year extension of the Statoil PRS(1) Pool services frame contract to the latest possible completion date of 1st December 2014. The yearly revenue under the contract is expected to be in the range of €13-26 million. This contract covers maintenance and operat
France: CGGVeritas Announces Third Quarter Results
CGGVeritas announced its non-audited third quarter 2011 consolidated results. All comparisons are made on a year-on-year basis unless stated otherwise. Strengthening Financial Results *Group Revenue was $797 million, up 21% year-on-year and 6% sequentially. *Group Operating Income was $98 million, a
PNE WIND Disposes of all Rights to Nautilus II Offshore Wind Project (Germany)
Wind farm developer PNE WIND AG has sold all rights to the offshore wind farm project “Nautilus II” to SSP Technology Holding ApS. The offshore project is being planned in the North Sea and is still in the planning and approval phase. SSP Technology Holding ApS, a company of Ventizz Capital Funds IV
Tullow Makes Oil Discovery Offshore Liberia
Tullow Oil plc (Tullow) announces that the Montserrado-1 exploration well, offshore Liberia, has made a non-commercial oil discovery in Late Cretaceous reservoir sands. This result is an important exploration breakthrough, establishing a working hydrocarbon system in the Liberian basin. The well was
Sierra Leone: SGC Announces Pampana River Licensing
Sierra Gold Corporation has announced it has returned to the Pampana River and has licensed 4 concessions mentioned in its last Field Report that had surface rents previously paid. With the licensing completed, the company is moving dredging equipment into position to commence operations as soon as
Trident Energy Teams up with Leading Electrical Engineering Research Organisation (UK)
Trident Energy, the independent developer of generator solutions for the offshore renewable energy industry, announced that it has signed a collaboration agreement with RenewNet, a world-leading electrical engineering research organisation. Trident Energy has developed a low cost, high reliability l
Greece: Paragon Shipping Enters into Time Charter Agreements for Two Panamax Vessels
Paragon Shipping Inc., a global shipping transportation company specializing in drybulk cargoes, announced that it has entered into fixed rate time charter agreements for two of its Panamax Vessels, M/V Kind Seas, and M/V Golden Seas with Mansel LTD, an entity fully owned and controlled by Vitol SA
MWH Global Uses BIM Software to Boost Panama Canal Traffic Capacity
Autodesk, Inc., a leader in 3D design, engineering and entertainment software, announced that MWH Global, a leader in wet infrastructure projects and programs, including water, hydropower and civil infrastructure, has been selected to receive an Autodesk BIM Experience Award. The firm is being honor
Malaysia: Songa Venus Rig to Become Operational within Days
Songa Offshore, Cyprus-based offshore drilling company, provides fleet update for October 2011. Songa Venus commenced operations for Petronas in Malaysia on 20 October after completion of contractual preparedness, acceptance testing and mobilization to the first location. During preparations to run