Fossil Energy
Maersk Drilling reports rise in profit. Expects slowdown in 2014
Danish offshore drilling contractor Maersk Drilling made a profit of $528M in 2013, up from $347M. The result was driven by full utilisation of all rigs and impacted positively by higher operational uptime and higher day rates. During 2013 Maersk Drilling entered into several new major contracts and
Downhole Products expands UK office
Downhole Products is on track to appoint its 100th employee this year and has revealed plans to significantly expand its Aberdeenshire headquarters. The leading casing accessory and completion tool company is headquartered at Portlethen near Aberdeen and operates bases in key locations throughout th
Seabed Geosolutions hires ‘Nor Tigerfish’ AHTS vessel
Seabed Geosolutions has chartered the “Nor Tigerfish” vessel fro Solstad Offshore. The company will hire the 5500 bhp AHTS vessel for a period of 7 months firm with an additional 2 months option. The contract starts in March 2014. “The contract value is confidential between the parties, but in line
Eidesvik Offshore expects healthy PSV market in North Sea
Eidesvik Offshore has announced in their quarterly results that the operating profit (EBIT) for Q4 2013 was MNOK 81,0 compared to MNOK 44,0 for the same period last year. Operating income was MNOK 237,9 compared to MNOK 223,7 for the same period last year. Profit for the quarter was MNOK 31,8 compar
‘Lotos Petrobaltic’ jack-up rig arrives in Poland
An offshore jack-up rig, recently bought by Lotos Petrobaltic from Transocean, yesterday arrived in Poland after a long journey from West Africa. The unit was transported to the Baltic aboard the MV Target heavy transportation vessel, owned by Dockwise. The rig, named after its new owner, is Lotos P
Oil & Gas UK’s seminar to provide better insight into EU safety directive
Oil & Gas UK, representative organisation for the UK offshore oil and gas industry, is holding an EU Directive Seminar today at Aberdeen Exhibition and Conference Centre, sponsored by Environmental Resources Management (ERM). The seminar, chaired by Oil & Gas UK health and safety and employment issu
MacGregor buys Deep Water Solutions
MacGregor, part of Cargotec, has acquired Norwegian privately owned Deep Water Solutions AS, specialising in lifting applications utilising electric multi drive technology. “Customer requirements for environmentally friendly solutions are increasing in offshore load handling applications, such as su
Transocean 4Q profit falls 49 pct on low fleet utilization
Transocean’s net income in the fourth quarter of 2013 fell to $233 million, a 49 per cent drop compared to $456 million earned last year. The Swiss-based offshore drilling contractor reported 4Q 2013 revenues of $2.332 billion, similar to the $2,326 billion achieved in the same period last year. T
ShawCor wins South Stream Pipeline coating contract
ShawCor Ltd.’s pipe coating division, Bredero Shaw, has received a contract with a value of approximately US$50 million from EUROPIPE GmbH for the concrete weight coating of Line 1 of the South Stream Offshore Pipeline. The South Stream Offshore Pipeline system is comprised of 4 pipelines that will
Rockhopper Exploration welcomes new CFO
Rockhopper Exploration plc, the North Falkland Basin oil and gas exploration company, has informed that Stewart MacDonald, aged 33, will join the Company’s Board as Chief Financial Officer with effect from 10 March 2014. Prior to joining the Company, MacDonald, was a Director in Rothschild’s global
Endeavour: Rochelle field production restart imminent
Endeavour International Corporation today announced that the valve in the Rochelle field that had been stuck in the ‘shut’ position has now been opened and production is expected to resume in the next few days. Following the tie-in of the East Rochelle E2 well, production from Rochelle could not be
Repsol net income falls. Production rises despite interruptions in Libya
Spanish Repsol posted a recurring net income of 1.823 billion euros for 2013, calculated at current cost of supply (CCS), 6.7% lower than the previous year. The company said that these earnings – that exclude atypical results and take into account replacement costs of raw materials and products – re
DOF Subsea wins mooring job in Asia Pacific
DOF Subsea has been awarded a contract for mooring installation in the Asia Pacific region. The contract award will secure utilization of the vessel Skandi Hercules vessel for approximately 2 months. The Skandi Hercules is a multi-purpose vessel with both construction support vessel features based
‘The Skills for Energy Guide to Apprenticeships’ set to be released in March
Skills for Energy, part of the East of England Energy Group (EEEGR), will launch a new guide for young apprentices looking for new ways into work.