Fossil Energy
Most read articles of 2014, Vol. 2
Yesterday, we published a list of fifteen most read articles of the year. Today, as previously announced, we are running a second batch. If you haven’t read the first part, click here. 16. ‘Largest ever subsea structure’ at Ichthys 17. 1 dead, 3 hurt in Gulf of Mexico platform blast 18.
Afren settles bribery case with former CEO, COO
Afren plc has announced that it has secured, from its former CEO, Osman Shahenshah, and former COO, Shahid Ullah, a cash payment of US$17.1 million in relation to payments made to them that were not authorized by the Board, and as first announced by the company on 31 July 2014. In addition, the comp
Egypt pays $350M to BG Group
Following the commitment from the Egyptian government to repay outstanding debts to the energy industry, BG Group plc, has received a further payment equivalent to $350 million. BG has said that the payment reduces the company’s domestic receivables balance in Egypt to around US$920 million. “While
Most read articles of 2014, Vol. 1
Dear readers, we hope a great night full of joy is behind you. As promised yesterday, we are bringing a list of the most read articles of the year 2014. Since we published around six thousand news articles in 2014, we have decided to run the list in two batches of 15 articles each. The first [&helli
Happy New Year 2015!!!
Dear readers, another year is almost behind us. It has been a good one for Offshore Energy Today thanks to you. We want to thank all of our readers for being with us over the years, for coming back to Offshore Energy Today on a daily basis, showing us that we’re on the right course. […]
Saipem: No change to South Stream suspension
Italian oilfield services provider Saipem has said that there is no change to the South Stream contract suspension. Under the original contract Saipem was supposed to carry out a giant part of the South Stream pipeline work in the Black Sea. Saipem in March this year signed a contract for the pipe l
Production starts at BP’s Kinnoull field
BP, on behalf of the Kinnoull field co-venturers, has announced the start of production from the Kinnoull field in the central North Sea. Kinnoull is BP’s seventh and final major upstream project start-up in 2014. The Kinnoull reservoir, developed as part of a wider rejuvenation of the Andrew field
Russians buy Arctech Helsinki
Arctech Helsinki Shipyard is in 100 % Russian ownership as United Shipbuilding Corporation bought the other half of the company shares from STX Finland Oy. Arctech Helsinki Shipyard Inc. was founded in December 2010 as United Shipbuilding Corporation bought the first 50 % of the shipyard shares from
Jutarnji: Five oil firms want to drill in Adriatic Sea (Croatia)
Five oil companies are eager to explore for oil and gas in the Adriatic Sea, offshore Croatia. According to Jutarnji List, a Zagreb-based daily, Croatia’s INA, Austria’s OMV, Italy’s Eni, and UK’s MedOil want to drill for oil and gas in the Adriatic over fifteen exploration blocks. Concession agreem
Bourbon, Tanjung deal off
Malaysian Group Tanjung Offshore and France’s Bourbon aarlier this year entered into exclusive discussions for the sale of 51% ownership in Bourbon’s 9 Offshore Supply Vessels (OSV) operating in Malaysia. In parallel, Tanjung then invited Bourbon to become a shareholder in their company. However, th
Gazprom to become sole owner of South Stream
Russian Gazprom will buy the remaining 50 per cent stake in South Stream Transport B.V. to become the sole owner of the company running the recently cancelled South Stream pipeline project. According to the company’s statement, the partners in the South Stream Transport B.V. consortium have agreed t
PHOTO: MacGregor offshore cranes for Toisa DSV
MacGregor, part of Cargotec, has received an order from Shanghai Zhenhua Heavy Industry Co Ltd (ZPMC). The contract is for four offshore cranes, including a 400-tonne SWL active heave-compensated crane capable of deploying 3,000m of wire rope. All four cranes will be fitted to a new 145m dive suppor
Dry Norwegian Sea well for Lundin
Swedish independent oil company Lundin Petroleum AB has completed the drilling of wildcat well 6405/12-1 on PL584. The well is dry. The well investigated the hydrocarbon potential of the Lindarormen prospect which is located 150 km northwest of Kristiansund on the Norwegian coast and approximately 8
Seadrill buys West Polaris UDW drillship
Seadrill Limited, an offshore drilling contractor, has exercised a purchase option for the West Polaris, a 6th generation Ultra-Deepwater drillship, from Ship Finance International Limited. The West Polaris was acquired by Ship Finance in 2008 and subsequently bareboat chartered to Seadrill with pur