Fossil Energy
Deep Casing Tools sets new manufacturing record in Q1
Deep Casing Tools has announced that the company has already exceeded the manufacturing output of 2013 within the first quarter of this year. Deep Casing Tools provides a range of innovative tools designed to land casing and completions at target depth within oil or gas wells. More than 70 tools hav
Lundin gets green light from NPD to drill wildcat offshore Norway
The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for wellbore 33/2-1, cf. Section 8 of the Resource Management Regulations. Wellbore 33/2-1 will be drilled from the Transocean Artic drilling facility at position 61°59’30.76” north and 1°32’42.52” east, after complet
Rosneft to invest $3.1B on Far East exploration (Russia)
Rosneft President, Chairman of the Management Board Igor Sechin today took part in a meeting of the Governmental Committee on socio-economic development of the Far East in Khabarovsk under the leadership of Russia’s Prime Minister Dmitry Medvedev. The meeting discussed implementation of investment p
Genel aims to raise $400M for field development
Genel Energy plc intends to issue $400 million in aggregate principal amount of senior unsecured bonds maturing in 2019. The oil explorer, run by former BP CEO Tony Hayward, said it would employ net proceeds from the Bonds towards a combination of field development costs as well as general corporate
Bluewater reports loss in 1Q 2014
Bluewater group today reported that the net loss after tax for the first quarter of 2014 was U.S.$(3.3) million compared to a profit of U.S.$12.4 million for the first quarter of 2013. EBITDA for the for the first quarter of 2014 was U.S.$40.0 million compared to U.S.$51.3 million for the first quar
ADIL revenues rise by 53 pct
Increasing demand for ADIL’s specialist energy consultancy services has resulted in strong domestic growth figures for 2013 and positioned the company for the next stage in its international expansion strategy. ADIL, which provides integrated development and operations management support to the ener
UK’s upstream offshore supply chain employs 200,000 people
As a result of a project to map the UK oil and gas supply chain, Oil & Gas UK this week released two reports. The first report: the economic contribution of the UK upstream oil and gas supply chain shows that the UK supply chain is a £35 billion industry, based on 2012 figures from businesses regist
Ensco sells another jack-up rig
Ensco plc today sold ENSCO 85, a jack-up rig built in 1981, for $64 million. The net book value of the rig was approximately $54 million. The pre-tax gain on this sale was approximately $10 million, which will be included in the second quarter 2014 operating results. “Year to date, we have sold thre
DW: $24 bln to be spent on offshore helicopters by 2018
Douglas-Westwood forecasts $24 billion in expenditure on offshore helicopter services between 2014 and 2018, a 57% increase in comparison to the preceding five-year period. Western Europe will continue to account for the largest share of global expenditure, driven by both the extensive North Sea inf
Energid’s robotics software project for drilling operations moves forward
Energid Technologies has announced a new phase of development with Norway’s Robotic Drilling Systems AS, which secured significant follow-on investment from oil industry partners last week. Energid will continue to tailor its premier robotics software, Actin, to meet the needs of oil and gas driller
Orga Offshore to launch new digital offshore navigational aid system at OTC 2014
Orga Offshore has announced that the company will be launching its latest digital aids to navigation system at the Offshore Technology Conference 2014 at Reliant Park in Houston from 5-8 May. A world leader in the design and manufacture of marine navigational aids, Orga’s next-generation offshore pl
Fincantieri to use Aveva’s software for drillship Proxima
Fincantieri Offshore has signed a contract with Aveva to implement Aveva Marine software in the concept design phase of Proxima, a major offshore drillship project. Proxima is a revolutionary design with an innovative drilling system that significantly increases the speed of the drilling process. It
PSA: No obvious improvement in barrier management
Statistics from “Trends in risk level in the petroleum activity” (RNNP) reveal positive developments in many areas, but certain factors remain causes for concern. The RNNP is a unique tool for managing safety in Norway’s oil and gas center. The annual survey by the Petroleum Safety Authority Norway
Antrim completes subsidiary sale (UK)
Antrim Energy Inc., an international oil and gas exploration company, has announced that it has completed its previously announced sale of Antrim Resources (N.I.) Limited and settled its outstanding obligations under its Payment and Oil Swap agreements with Credit Suisse AG and Credit Suisse Interna