Fossil Energy
Oceanteam sells CSV North Ocean 102
Norway’s Oceanteam Shipping ASA has completed the transfer of its 50% ownership stake in the to date jointly owned Pipelay Vessel CSV North Ocean 102 to J. Ray McDermott Norway. The company says that the proceeds from the sale will go towards a $35 million amortization on Oceanteam’s bond loan debt
Statoil extends lifetime for Oseberg Vestflanke
Statoil has received consent from the Petroleum Safety Authority (PSA) Norway to use Oseberg Vestflanke, located in the North Sea, beyond its originally planned life. Oseberg Vestflanke is part of the Oseberg field and has been developed using subsea facilities tied back to the Oseberg field centre.
Wintershall expects higher resources from Maria
Germany’s Wintershall has announced updated, higher recoverable resource estimates for its operated Maria Field, located in the Norwegian Sea. Wintershall estimates that the planned technical recoverable resources will reach about 180 million barrels of oil equivalent (boe). According to Wintershall
Shah Deniz gets first DEH system delivery from Nexans
Nexans has provided to BP and its Shah Deniz development project, in the Caspian Sea, the first delivery in what will be, according to Nexans, the world’s largest and most complex Direct Electrical Heating (DEH) system to date. Nexans is supplying a comprehensive subsea DEH system solution including
Subsea 7 in organizational changes
Subsea 7 S.A. has announced that, with effect from January 1, 2015, it will be changing the organisational structure of its business in order to, as the company says, better align it to the Group’s strategic priorities. According to the company’s press release, the changes are also designed to furth
Johan Sverdrup FEED phase under PSA’s spotlight
The Petroleum Safety Authority (PSA) Norway has carried out an audit of materials handling, occupational health and safety and barrier management in the development project for the Johan Sverdrup field, in the North Sea. Johan Sverdrup is an oil and gas field in the central North Sea, around 140 kil
Ocean Yield in ‘Geco Triton’ sale
Ocean Yield ASA has agreed to sell the 1991 built seismic vessel “Geco Triton”. The company sold the vessel to the charterer for $8.2 million. The vessel was on a long term bareboat contract with Western Geco until December 2015 and Ocean Yield says that the sales price includes full payment of rema
Cecon gains funds for new vessel completion
Cecon Shipping 3 AS, a subsidiary of Rever Offshore AS, has secured a $35 million senior bond financing arrangement with York Capital Management Global Advisors, LLC (York) for the purpose of starting the completion of Hull 719. The company notes that to enable an earlier start-up of the Hull 719 co
CSL secures contract extension from Shell (UK)
The project services division of Aberdeen-based company CSL has been awarded a two-year contract extension of an existing onshore and offshore frame agreement with Shell UK across their Upstream International Europe region for the provision of client representation (OOER and QAQC). The contract cove
Wood Group to snip and freeze workers’ salaries (UK)
Wood Group PSN (WGPSN) has today (Wednesday, December 17) announced plans to reduce the rates paid to its UK-based limited company offshore and onshore contract workers. According to the company, this is a response to cost and efficiency challenges affecting the UK North Sea oil & gas sector. In add
Ocean Yield takes delivery of ‘SBM Installer’
Ocean Yield ASA has taken delivery of the diving support and offshore construction vessel (DSCV) “SBM Installer”. Dutch company SBM Offshore has entered into an agreement to sell the SBM Installer to OS Installer AS for $150 million in cash. OS Installer AS is a newly established joint venture betwe
Farstad orders OSC vessel from VARD
Vard Holdings Limited (VARD) has secured a contract for the design and construction of one Offshore Subsea Construction Vessel (OSCV) for Farstad Shipping. The vessel will be of VARD 3 17 design, with a total length of 98 meters and a beam of 21.5 meters, and has been developed especially for subsea
Norway: November oil production once again below NPD’s prognosis
The Norwegian Petroleum Directorate (NPD) has informed that preliminary production figures for November 2014 indicate an average daily production of about 1 939 000 barrels of oil, NGL and condensate. This is 18 000 barrels per day (about 1 percent) less than in October 2014. Total gas sales were ab
WGK to work on Chevron’s Captain EOR project
Chevron North Sea Limited has awarded Front End Engineering and Design (FEED) contract for its Captain EOR project in the North Sea to Wood Group Kenny Caledonia. Wood Group Kenny Caledonia Limited was awarded the contract for the subsea engineering of the trees, wellheads, controls and the polymer