Reference is made to the announcement dated December 6, 2010, regarding a contemplated offering of a NOK 500-700 million senior unsecured bond by Sevan Marine ASA. The bond was completed on Friday December 10 with a placement of NOK 700 million (approximately USD 117 million) subscribed by Norwegian
ABS and the China Classification Society (CCS) strengthened their collaborative efforts by entering into a new Cooperation Agreement recently in Washington, DC. While the agreement is comprehensive, the offshore industry will be a priority area of focus for the two leading classification societies.
MEED reported that artificial islands housing production facilities at Zakum oil field already under construction Abu Dhabi’s Zakum … [mappress] Source: Steel Guru, December 13, 2010; Image: Exxonmobil,
Wärtsilä, the marine industry’s leading solutions provider, has been awarded the contract to supply the propulsion equipment for a new, state-of-the-art, research vessel. The vessel will be operated by the UK’s Natural Environment Research Council (NERC), and is to be built at the C.N.P. Freire S.A.
Bounty Oil and Gas NL announces that the “Ocean Patriot” semi submersible drill rig reached the New Seaclem-1 drilling location, 55 km due east of Newcastle, NSW, and ran the first anchor at approximately 0700 AEDST. Once all anchors are run, the rig will ballast down and prepare to spud. New Seacle
EnCore Oil plc announces that the Transocean Galaxy II heavy duty jack-up rig left the standby location in the UK North Sea on Sunday 12 December and is en route to the Varadero location on Block 28/9. Subject to weather and any operational delays, the rig is expected to arrive at Varadero later tod
GE today announced its intention to make an offer for 100% of Wellstream Holdings PLC , a leading engineer and manufacturer of high-quality flexible pipeline products for oil and gas transportation in the subsea production industry. The terms of the transaction, which value Wellstream’s share capita
Lundin Norway AS, operator of production licence 400, has completed the drilling of wildcat well 3/8-1. The well was drilled about 7 kilometres east of the Trym discovery in the southern part of the North Sea. The primary exploration target for the well was to prove petroleum in Permian resevoir roc
MEO Australia Limited advises that since the last progress report, the 9-5/8” casing was run and cemented to a depth of 2,971m MDRT and the 8-1/2” hole was drilled through the target reservoirs to a total depth of 3,500m MDRT over the weekend. No hydrocarbons were encountered in the objective reserv
Europe can meet its 2050 ambition of reducing its CO2-emissions by 80 per cent compared to 1990, in a faster and more cost-efficient way if natural gas plays a significant part in the energy mix going forward. In a report initiated by a group of experienced gas players in Europe and delivered to the
Wärtsilä’s electronic Annual Report 2009 has been selected best annual report in Europe. The prize was handed out at the European Excellence Awards ceremony in Prague, Czech Republic, on 9 December 2010. There were over 1,400 entries in the European Excellence Awards competition this year. The other
Dutch shipbuilding company Damen has launched a new Compact Stan Tug Series. With more than 40 years experience and expertise behind the three tug types, (the Stan Launch 804, Stan Tug 1004 and Stan Tug 1205), the vessels are designed to be strong, highly manoeuvrable and easily manageable for a one
Despite recent oil finds by UK-based oil firms Rockhopper Exploration (AIM: RKH) and Desire Petroleum (AIM: DES), the Falkland Islands … By James Fowler / Business News Americas [mappress] Source: BNamericas , December 10, 2010; Image: Fogl
During the period of 1-4 November 2010, the Petroleum Safety Authority Norway (PSA) carried out an audit of Transocean Offshore Ltd’s (Transocean’s) management of major accident risk and handling of barriers. The audit activity was started with an all-day meeting with the management on land on 21 Oc
