Fossil Energy
Fred. Olsen Energy reports revenue decrease in offshore drilling division
Fred. Olsen Energy has announced financial results for Q1 2014. The company has reported an operating profit before depreciation (EBITDA) of $102 mln in Q1 2014. Financial Information (4th quarter 2013 in brackets) Operating revenues in the quarter were 277.8 million (298.0 million), a decrease of 2
Songa Offshore reports high operational efficiency in April
Songa Offshore, an international offshore drilling company, has announced its rig fleet update for April 2014. Songa Venus achieved an operational efficiency of 100% and an earnings efficiency of 96% during the month working for Mubadala Petroleum in Malaysia. The rig went off contract on May 6, and
AGR Norwegian Consultancy secures O&G Frame Agreements
Global oil service company AGR announced that its Norwegian Consultancy team has been awarded multiple new contracts. Based in Stavanger, the team provides recruitment and consultancy services to the upstream oil and gas industry. The Norwegian operation is part of AGR’s world-wide Consultancy divis
Statoil sets recovery goal of 70% for Johan Sverdrup field
Statoil executive vice president for its North American operations Bill Maloney said that the company has set a goal of recovering an average of 70% of the oil in its Johan Sverdrup field in the Norwegian continental shelf. “We’ve set a very large goal for oil recovery for Johan Sverdrup,” says Malo
TGS faces criminal charges
Økokrim, the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime, has today presented a criminal charge against the Norwegian seismic survey specialist TGS. Tha charge presented is for the violation of the Norwegian Tax Assessment Act and the Norwegian
Reef Subsea: First pipeline trenching contract for Q1000 ROV (VIDEO)
REEF Subsea has secured its first pipeline trenching project for its Q1000 jet trencher on the Sierra L5 pipeline in Dutch Norh Sea for GDF SUEZ. This month, Reef Subsea will mobilise its state-of-the-art Q1000 jet trencher on-board the Reef Despina Construction Support Vessel to provide trenching o
Xcite Energy, Statoil, Shell enter into collaboration agreement
Xcite Energy announces that its 100% owned subsidiary, Xcite Energy Resources Ltd (“XER”), has entered into a Collaboration Agreement with Statoil (U.K.) Ltd and Shell U.K. Ltd. ,which allows all the Parties to make available and share field-specific technical and operational information for the eva
‘Valiant Energy’ OSV supports drilling in Greece
Offshore supply ship “Valiant Energy” will support Energean Oil & Gas’ new 160 million euro investment program in the Gulf of Kavala, offshore Greece. The ship arrived at the Port of Kavala, on Friday, May the 2nd where a reception ceremony took place attended by local political and religious author
Statoil to use subsea production facilities in PL 169
Statoil has received consent to use pipelines and subsea production facilities and implement changes at Grane in production licence 169 Svalin. Svalin is eight kilometres south-west of the Grane field. Water depth is around 120 metres. Svalin has been developed using a multi-branch well from the Gra
Odfjell Drilling enters into $450 mln credit facility agreement
Odfjell Drilling Services Ltd. has entered into a $450 million senior secured credit facility agreement with Danske Bank A/S and DNB Bank ASA as Coordinators, and Danske Bank A/S, DNB Bank ASA, Nordea Bank Norge ASA and Swedbank AB (publ) as Mandated Lead Arrangers. The facility is divided in a revo
DECC’s latest offshore O&G licensing round gets strong response. Acreage awards in autumn
Department of Energy & Climate Change has reported that the latest offshore oil and gas licensing round, which closed for applications on Friday 25 April, has received a strong response with 173 applications from industry for around 370 blocks. Energy Minister, Michael Fallon, said: “It’s 50 years s
WeSubsea to deliver equipment to Canadian market through Frontier Subsea
The Norwegian subsea company WeSubsea is established in Canada by cooperation with Atlantic Canadian subsea engineering & services company Frontier Subsea Inc. WeSubsea and Frontier Subsea have reached an agreement that will allow WeSubsea to deliver their equipment and services to the Canadian subs
Seatankers takes delivery of PSV ‘Sea Springer’
The platform supply vessel ‘Sea Springer’ was recently delivered from Zhejiang, and ship owner Seatankers/Deep Sea Supply has now received eight of their total twelve vessels of the PX105 design. The vessels receive very good feedback. In Ulstein’s latest magazine, Ulstein Today, the Captain on one
Transocean to create Caledonia Offshore Drilling Company
Transocean Ltd. has announced that it intends to pursue the creation of an entity comprising eight of its UK North Sea midwater drilling rigs. The company expects to establish the new entity, Caledonia Offshore Drilling Company, during the second half of 2014 and, at an appropriate stage, separate C