Fossil Energy
Serica farms out stake in East Irish Sea Blocks
Serica Energy plc has completed the farm out of UK East Irish Sea Blocks 113/26b and 113/27c (Licence P.1482) with Centrica through its subsidiary Hydrocarbon Resources Limited (“HRL”). Under the agreement, HRL has acquired an operated 45% interest in the licence, with Serica retaining 20%, in consi
Songa Offshore updates on rig fleet status for July
Songa Offshore,an international offshore drilling company, has announced its drilling rig fleet status update for July 2014. Songa Dee rig achieved an operational efficiency of 100% and an earnings efficiency of 99% during the month working for Statoil in Norway. Songa Delta achieved an operational
BW Offshore gets $800M loan for Catcher FPSO
BW Offshore has signed the facility documentation for the new USD 800 million ten year senior secured credit facility for the Catcher FPSO project. The facility is a combined construction and long term financing facility. The credit facility was substantially oversubscribed by a group of 13 leading
Dry well in Danish North Sea
Maersk Oil has drilled the exploration well Dany-1X in the western part of the Danish North Sea. The well did not encounter oil or gas. Dany-1X was drilled as a vertical well with Upper Cretaceous chalk as the objective. The well terminated in Lower Cretaceous claystone at a depth of 2501 metres bel
New offshore contracts for Bibby Ship Management
Bibby Ship Management has further strengthened its position in the offshore oil and gas market with the securing of two new contracts.
‘VOS Hades’ begins Aberdeen adventure
VOS Hades Emergency Response and Rescue Vessel has joined the Vroon Offshore Services Aberdeen fleet. Following successful deployment for Vroon Offshore Italia SRL during the past five years, the vessel has now been repositioned within the Vroon fleet to Aberdeen, where she will operate under the UK
Bank of England’s Spencer Dale becomes BP’s Chief Economist
BP today announced the appointment of Spencer Dale as its new Group Chief Economist with effect from the end of October. Dale joins BP from the Bank of England where he is currently Executive Director for Financial Stability Strategy and Risk. He is also a member of the Bank’s Financial Policy Commi
Pinsent Masons: Sharp spike in oil & gas arbitration cases in 2013
A high oil price and global political unrest has led to a sharp spike in major oil and gas arbitration cases for settling complex multi-million pound legal disputes. Research by legal firm Pinsent Masons found a leading arbitration body had received double the number of energy related cases in 2013
Paragon Offshore spin-off completed
Noble Corporation plc announced today that it has completed the spin-off of all of the outstanding shares of Paragon Offshore plc, which owns most of Noble’s standard specification drilling business. As a result, Noble and Paragon are now two separate, publicly-traded companies. On August 1, 2014, N
Fisher Offshore names new MD
Fisher Offshore, an energy industry service company, part of James Fisher and Sons plc, has underlined its commitment to continued growth with the appointment of a new managing director. Jack Davidson has been promoted from the role of operations director to lead the business as it prepares for the
SPE hosts event on workplace discrimination in oil & gas industry
The Society of Petroleum Engineers (SPE) will host what they call a world-first event in October to discuss the topic of workplace discriminatory challenges, specific to the oil and gas industry. The “Breaking the Cycle of Discrimination—Workplace Challenges in the Oil and Gas Industry” premier inte
GSP Offshore buys PSV trio from MAC
Romania’s GSP Offshore has acquired three new Platform Supply Vessels from Marine Assets Corporation (MAC). The recently built vessels of MMC 887 design, named GSP Altair, GSP Centaurus and GSP Pegasus, measuring 87.02 meters in length and 18.80 meters in width. The 5,000 dwt vessels have a deck are
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Dalgidj to buy ROV using EBRD loan
The EBRD and Unibank are providing a $10 million loan to Dalgidj LLC, an Azerbaijani oil-service company, for the expansion of the company’s activities. The loan will be used for the acquisition of a new remotely operated vehicle (ROV) and the construction of a new warehouse. Dalgidj, a local privat