Business & Finance
Norway: NYK Offshore Unit Secures Time Charter for Two Shuttle Tankers
Knutsen NYK Offshore Tankers AS, of which NYK has a 50% share, has signed a time-charter party with Ente Nazionale Idrocarburi S.p.A, an Italian multinational oil and gas company. The contract is for two shuttle tankers for a maximum 10-year period starting from summer 2013. Two new 123,000 DWT Suez
Norway: CGGVeritas’ Oceanic Sirius Acquires 3D BroadSeis Survey on Avaldsnes Field
CGGVeritas announced that the first project for its recently launched Oceanic Sirius X-BOW® seismic vessel will be a 3D BroadSeis™ survey on the Avaldsnes field, potentially estimated to be the third largest oil discovery in Norway, on behalf of Lundin Petroleum. The Oceanic Sirius joined the CGGVer
The Netherlands: High Oil Prices Drive Shell’s Profit Up
At 07.00 BST (08.00 CEST and 02.00 EDT) on Thursday 27 October, 2011 Royal Dutch Shell plc released its third quarter results and third quarter interim dividend announcement for 2011. Royal Dutch Shell’s third quarter 2011 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $7.2 b
France: Technip Announces Results for Third Quarter 2011
On October 25, 2011, Technip’s Board of Directors approved the third quarter 2011 consolidated accounts. Third Quarter 2011 Results • Revenue of €1,699 million, of which €754 million in Subsea • Group operating margin4 of 10.6%: 16.9% in Subsea and 7.1% in Onshore/Offshore • €2,352 million of order
Forum Sells Two ROVs to MRTS, Russia
Forum Energy Technologies, Inc. (Forum) announced the entry into an agreement with MRTS, an operator of offshore pipe laying vessels based in Moscow, Russia, to sell two Perry™ XLX ROVs (Remotely Operated Vehicles). This will mark the first sale of work-class ROV systems from Forum Subsea Technologi
UK: Wind Wave Workboats, South Boats Sign Contract for 17m Vigilante Catamaran
South Boats Special Projects Ltd. and Wind Wave Workboats Ltd. announce the two companies have signed a contract for the construction for the ‘Freddie S’, a first of class South Boats 17m Vigilante catamaran. The vessel will be built at South Boats’ new facility in Cowes and will be delivered in Aug
ABB Publishes Q3 Results (Switzerland)
ABB reported a 24-percent increase in operational EBITDA in the third quarter on double-digit revenue growth compared with the third quarter of last year. In addition to higher revenues, the increase reflects successful cost reductions that continued to more than offset price pressure. The recent Ba
OSX Brasil Receives USD 850 Million loan for FPSO OSX-2
OSX 2 Leasing B.V., a subsidiary of the OSX Brasil S.A., entered into a facility agreement with a syndicate of international banks lead by ING, Itaú-BBA and Santander, related to the granting of a loan in the amount of US$ 850 million, pursuant to the contractual terms, for investment in the constru
Brazil: OSX to Finance New FPSO with USD 850 Million Loan
OSX 2 Leasing B.V., a subsidiary of the OSX Brasil S.A., entered into a facility agreement with a syndicate of international banks lead by ING, Itaú-BBA and Santander, related to the granting of a loan in the amount of US$ 850 million, pursuant to the contractual terms, for investment in the constru
CGGVeritas to Acquire Broadseis Data on Avaldsnes Field, Offshore Norway
CGGVeritas announced today that the first project for its recently launched Oceanic Sirius X-BOW® seismic vessel will be a 3D BroadSeis™ survey on the Avaldsnes field, potentially estimated to be the third largest oil discovery in Norway, on behalf of Lundin Petroleum. The Oceanic Sirius joined the
Norway: AGR Secures Contract Extension for RMR with Total
One of the largest operators in the UK sector of the North Sea has extended its contract for AGR’s Riserless Mud Recovery system (RMR™) by four years. TOTAL E&P UK’s multiple-well deal with Norwegian solutions provider AGR also includes the firm’s Cutting Transportation System (CTS). The extension,
UK-France Power Interconnector Returns to Full Capacity
The UK-France power interconnector is to return to its full 2,000 megawatt (MW) capacity on Friday afternoon at 1700 UK time (1800 CET… (Reuters) [mappress] Source: Reuters,October 27 , 2011;
Forum Announces Sale of Two XLX ROVs to MRTS (Russia)
Forum Energy Technologies, Inc. (Forum) announces the entry into an agreement with MRTS, an operator of offshore pipe laying vessels based in Moscow, Russia, to sell two Perry™ XLX ROVs (Remotely Operated Vehicles). This will mark the first sale of work-class ROV systems from Forum Subsea Technologi
Norway: Statoil Delivers Strong Third Quarter Financial Results
“Statoil delivered strong financial results in the third quarter of 2011, reflecting operational performance in line with expectations and strong oil and gas prices throughout the period,” says Helge Lund, Statoil’s chief executive officer. Statoil presented the long term strategy and long term grow