Fossil Energy
IEA: $48 trillion investment needed to meet energy demand by 2035
Meeting the world’s growing need for energy will require more than $48 trillion in investment over the period to 2035, according to a special report on investment released today by the International Energy Agency (IEA) as part of the World Energy Outlook series. Today’s annual investment in energy
CNRI extends North Sea services contract with PD&MS Energy
A UK-based engineering company PD&MS Energy has secured a major five-year North Sea contract extension with CNR International (CNRI).
Wagenborg secures loan for Walk to Work vessel
Germany’s KfW IPEX-Bank is financing a so-called Walk to Work vessel which will be used by Nederlandse Aardolie Maatschappij (NAM), a joint venture of Royal Dutch Shell and ExxonMobil. Santander acted as structuring bank and equity underwriter of this transaction. The ship is being built at the Roya
Lamprell delivers ‘Hydra’ to Seajacks
Lamprell has delivered a self-propelled jack-up vessel, the “Hydra”, to its client Seajacks. Following a naming ceremony for the vessel which was held at Lamprell’s Hamriyah facility in the UAE on 15 April, Lamprell delivered the “Hydra” yesterday. The vessel will depart the facility shortly en rout
DBR gensets for IHC-built pipelayers
DBR will supply emergency/harbour diesel generator sets for six new pipelaying vessels under construction at IHC Merwede in the Netherlands for Subsea 7 and SapuraKencana. The order for the custom engineered units, generating up to 1,875 kVA, follows DBR’s successful delivery of three similar genera
Plexus to supply Pos-Grip wellhead to Maersk Oil
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that further to the Company’s first time contract win with Maersk Oil
Wood Group Kenny nets Shah Deniz subsea contract
Wood Group Kenny (WGK) has been awarded a £36 million call-off contract, for 2014, with BP Azerbaijan under their 2007 Global Agreement. The contract will cover engineering and project management services for the Shah Deniz 2 Subsea Execute phase. WGK has worked with BP on the Shah Deniz project sin
Bureau Veritas buys DTI DiversiTech
Bureau Veritas has just acquired DTI DiversiTech, Inc. (DTI), a US company specialized in inspection and audit services for the oil and gas sector. Founded in 1989 and based in Texas, DTI is the US leader in inspection of offshore subsea and completion equipment used in drilling operations, a mark
Solstad takes delivery of ‘Normand Reach’
Solstad Offshore ASA (SOFF) has today taken delivery of “Normand Reach” (CSV) from Vard, Aukra. The vessel will start on a 5 year firm charter with Reach Subsea ASA with additional 3 x 1 yearly options, with the start scheduled for June 10, 2014. A long-term facility of NOK 510 million has been dr
AMEC, BP Execs become Chairmen of Oil&Gas UK
Oil & Gas UK, the representative organisation for the UK offshore oil and gas industry, today officially confirms two new senior appointments to its Board.
Vard, NAO pen letter of intent for two PSVs
Vard Holdings Limited has entered into a Letter of Intent (“LOI”) with Nordic American Offshore Ltd. for the design and construction of two Platform Supply Vessels (“PSV”), and an option for a third vessel. The vessels are of VARD 1 08 design, developed by Vard Design in Alesund, Norway. The hulls o
Sembcorp Marine acquires stake in GraviFloat
Sembcorp Marine has entered into an agreement to acquire a 12% stake in GraviFloat AS for US$4 million, with a right to increase its stake up to 20% by further equity injection. GraviFloat was formed to design, deliver and operate re-deployable, gravity-based, modularised LNG and LPG Terminals for i
ATR invests in Underwater Engineering Services equipment
ATR Group, the global equipment specialist, has invested £1million in new equipment and almost doubled its UES (Underwater Engineering Services) workshop facility to meet a growing demand from the subsea sector. The expenditure in the Aberdeen-based Group’s marine and subsea project support equipmen
Ukraine to lose millions of barrels from offshore fields
Ukraine’s oil & gas production appears to have been largely unaffected by the ongoing crisis involving Russia’s annexation of Crimea and the uprising of pro-Russian separatists in the east of the country, Douglas Westwood says in its “DW Monday” report. Most of the Black Sea state’s producing gas