Fossil Energy
TAP brings in two Senior Directors
In preparation for construction and marking the construction phase of the project, Trans Adriatic Pipeline AG (TAP) has hired Norman Ingram as Project Director and Martin Mair as Operations Director. Both positions are located at TAP’s Headquarter offices in Baar, Switzerland. Norman Ingram joins TA
‘Ceona Amazon’ equipped with twin cranes
Ceona, SURF contractor with heavy subsea construction capabilities, has marked another milestone in delivering its next generation flagship asset, the Ceona Amazon, following the installation of 570te multiple pipelay VLS and twin 400te cranes onto the deepwater field development vessel. One month a
Bilfinger Salamis fined for fatal offshore incident
The Health and Safety Executive (HSE) UK has informed that an offshore services company, Bilfinger Salamis UK, has been fined for serious safety failings following an incident in which a worker died after plunging 23 metres from a platform into the sea. Lee Bertram, then 37, from Newcastle, Tyne and
BG Group responds to low oil prices. Reduces capex
BG Group, one of UK’s largest energy companies will reduce its capital expenditure for 2015, as a response to a lower oil price environment. The company has said that planned capital expenditure on a cash basis in 2015 will fall to between $6 – 7 billion in 2015. For comparison, capital investment i
DNV GL: Oil & Gas industry pessimistic about year ahead
In the face of falling oil prices, confidence in the outlook for the oil & gas industry has dropped dramatically among sector professionals from 65% to 28% in the last three months, according to new research published today by DNV GL. The pessimistic outlook is also reflected in capital expenditure
Unions: Job cuts could create Piper Alpha-like disaster (UK)
Cuts being made across the offshore oil industry as a result of the falling oil price will compromise safety and lose key skills to the UK, the UK’s biggest union, Unite, has said. With oil companies set to reduce spending on investment and exploration by $170 billion (37 per cent of spend) by 2017,
KNOT Offshore CEO/CFO steps down
KNOT Offshore Partners LP today announced that Arild Vik has decided to step down as CEO and CFO of the partnership. Although Vik is resigning in order to pursue other interests outside of the partnership, the company says that he will be available for the partnership until July 30, 2015. This ensur
Rough waters ahead for UK’s oil industry
Oil & Gas UK’s Business Sentiment Index published today reveals that in the fourth quarter of 2014 optimism in the oil and gas industry fell dramatically, dropping 16 points to -23 points on a -50/+50 scale. According to the Oil&Gas UK, the downfall continues the downward trend seen over the last
EnQuest withdraws from Tunisia. Gets $23M back from escrow
EnQuest PLC, an independent oil and gas exploration and production company, has withdrawn from its small investment in Tunisia. In May 2013, EnQuest announced an agreement to acquire interests in the Didon producing oil field and the Zarat permit, from Sweden’s PA Resources AB. According to EnQuest,
NAO enters contracts for two PSVs
Nordic American Offshore Ltd. (NAO) has entered into two new contracts for 4 months firm periods with further options for each vessel. The name of the client was not revealed in the press release, however NAO stated that it is “a major oil company”. Furthermore, this contract will secure firm employ
Floatel’s fourth flotel named in Singapore
Singapore’s Keppel FELS is on its way to deliver the fourth semi-submersible accommodation rig to Floatel International Ltd (Floatel) At a ceremony in Singapore, held on Saturday, January 31, the rig was named Floatel Endurance at the Keppel FELS yard. It will be deployed to work for Chevron in West
UKOG gets more interest in off Isle of Wight licence
The Board of UK Oil & Gas Investments PLC (UKOG) has announced it is acquiring further interests in licence P1916, offshore of the Isle of Wight, and onshore licence PEDL126. UKOG is the operator of these two licences. These acquisitions take UKOG’s operated interest in P1916 from 65% to 72.5% and i
Deep Sea Supply wins double PSV deal
Deep Sea Supply, a Cyprus-headquartered owner of offshore support vessels, has agreed on long term bareboat contracts for the PSVs “Sea Tortuga” and “Sea Triumph”. The vessels will be used for operations in Australian waters. The company did not reveal the name of the client, but simply stated that
Global Maritime Group names its first CEO
Global Maritime Group has appointed Peder Sortland as its first CEO. In the announcement, the company said that this appointment means that the group, created by merging four companies belonging to HitecVision, has put another important piece in place for realising its substantial growth ambitions o