Fossil Energy
UK: New rules proposed for offshore flights
The UK Civil Aviation Authority has released a new set of proposals aimed at improving the safety of helicopter operations to the 116 normally unattended offshore installations in the North Sea. The proposals released at the Offshore Helicopter Safety Action Group (OHSAG) build upon an independent r
Repsol to take over Talisman in May
Antonio Brufau, CEO of Spanish oil company Repsol said the company’s takeover of Canadian oil company Talisman Energy will become effective in May. Brufau said that that once all the requirements agreed to by the parties for the completion of the transaction have been met the integration of Talisman
Oil & Gas safety awards in UK. Who won?
The winners of awards celebrating the people and companies striving to ensure North Sea oil and gas operations are as safe as they can be were named at a lunchtime awards ceremony in Aberdeen yesterday, Wednesday, April 29, 2015. It was the fifth UK Oil and Gas Industry Safety Awards – jointly organ
Polarcus cold stacks ‘Nadia’. Reports 1Q net loss
Seismic acquisition companies are the first to feel the consequences when the oil prices go down, as their customers, the oil companies, stop investing in new exploration projects, waiting for the oil prices to rebound. In line with this, seismic survey contractor Polarcus saw its 1Q 2015 revenues f
Statoil reports quarterly net loss
Norwegian oil company Statoil today reported a first quarter 2015 net loss of NOK 35.4 billion ($4.6 billion) due to impairments. Statoil said its net operating income in the first quarter of 2015 was negatively impacted by significant accounting charges related to asset impairments of NOK 46.1 bill
Shell 1Q profit down 56%
Royal Dutch Shell’s first quarter 2015 earnings on a current cost of supplies (CCS) basis earnings excluding identified items were $3.2 billion compared with $7.3 billion for the first quarter 2014, a decrease of 56%. According to Reuters, the result beat analysts’ expectations. The company’s 1Q ear
Rederij Groen takes delivery of ‘7-Stars’ SRSV
Maaskant Shipyards Stellendam, a part of the Damen Shipyards Group, delivered this month the Seismic Research Support Vessel (SRSV) 7-Stars to offshore support service provider Rederij Groen, in Dutch harbour town of Scheveningen. According to Maaskant Shipyards, the 35-metre long offshore chaser, 7
Lifeboat simulator installed on Prosafe’s Safe Boreas
Virtual Marine Technology, a Canadian simulation services provider, announced it has installed its first lifeboat simulator system in Norway. The simulator was installed onto Prosafe’s Safe Boreas accommodation vessel in Stavanger. The simulator system was unveiled in as an element of the vessel’s s
Lundin gets $600M financing
Swedish independent Lundin Petroleum has secured a NOK 4.5 billion ($603 million) loan from a group of ten international banks. The loan, described by Lundin as Exploration Refund Facility (ERF), is secured against the tax refunds generated from Lundin Norway’s exploration and appraisal activities o
Investors take Saipem to court
Investors have taken legal action against Saipem, an Italy-based oilfield services provider to the international offshore oil and gas industry. According to the company, Saipem has received a notice of legal proceedings before the Court of Milan by 64 investors claiming compensation for damages of a
BP begins 7-year drilling campaign west of Shetland (UK)
BP has confirmed today it has kicked off drilling on the Loyal field in the North Sea, using the new-build, semi-submersible rig Deepsea Aberdeen. This marks the start of a seven year drilling campaign west of Shetland, UK. Deepsea Aberdeen is contracted to drill wells across the Schiehallion and Lo
Petrofac, Amec Foster Wheeler plan job cuts
Petrofac and Amec Foster Wheeler are reportedly planning to cut jobs amid the oil price tumble. BBC reports that Petrofac is in consultations with workers both onshore and offshore. According to Reuters, Amec said it was in consultation with 149 employees based in Aberdeen and that 64 positions migh
Hercules Offshore in the red
U.S. offshore drilling contractor Hercules Offshore has reported a net loss of $57 million for the first quarter 2015, compared to net income of $19.9 million realized in the corresponding quarter of 2014. Revenue fell to $122.6 million versus $257.7 million a year ago. These are challenging times f
Subsea 7 sees profit rise
Subsea 7 S.A., a subsea engineering, construction and services company, has reported rise in Q1 2015 profits despite revenue drop. The company reported net income of $151 million in the Q1, 2015 in comparison with $131 million in Q1, 2014. Revenue for the quarter was $1.2 billion, a decrease of $487