Fossil Energy
STATS Replaces Oil Export Line in North Sea
STATS were contracted by a major oil producer to supply high pressure isolation plugs to provide a double block and bleed isolation barrier for the safe tie-in of a replacement section of the main 24-inch oil export line from the platform, without having to de-oil the entire 80km pipeline. To facili
Shell to Continue with Asset Sales. Puts Arctic Drilling on Hold
Speaking to investors today, new Shell CEO Ben van Beurden updated on the company’s priorities: improving Shell’s financial results and achieving better capital efficiency, as well as continuing to strengthen operational performance and project delivery. Ben Van Beurden, who became the new CEO of Ro
Shell 4Q Earnings Plunge to $2.2 B. 2014 Capex Reduced
Royal Dutch Shell today reported earning for fourth quarter 2013 earnings of $2.2 billion compared with $7.4 billion in the same quarter a year ago. Full year 2013 CCS earnings were $16.7 billion compared with $27.2 billion in 2012. Fourth quarter 2013 CCS earnings excluding identified items were $2
Energy Endeavour Jack-Up Rig Stays in Dutch North Sea
Wintershall has extended the contract for the Energy Endeavour jack-up drilling rig. Northern Offshore, Ltd. has received notice that Wintershall Noordzee B.V. is exercising the first of two six-month options for the rig. The start date of the option period will be in direct continuation following t
Take a Virtual Tour of ‘Lewek Inspector’ Vessel
Havyard has made the “Lewek Inspector” available for everybody to see in detail. Online. The Norwegian ship supplier has recently delivered the subsea construction vessel to Forland Shipping. Take a virtual tour of the fantastic vessel. You can rotate, pan and zoom all pictures from exteriors and in
BP Produces Oil from West Chirag Platform
The Azerbaijan International Operating Company (AIOC), operated by BP, today announced the start-up of oil production from the West Chirag platform as part of the Azeri-Chirag-Gunashli (ACG) field development in the Azerbaijan sector of the Caspian Sea. Start-up of the West Chirag platform completes
75.000 Steel Pipes Ordered for South Stream Offshore Pipeline
South Stream Transport has contracted three pipe mills to supply over 75,000 steel pipes for the first line of the South Stream Offshore Pipeline. Europipe from Germany will supply 50% of the pipes, OMK from Russia 35%, and Severstal’s Izhora Pipe Mill in Russia another 15%. The contracts, with a to
Rolls-Royce Dynamic Positioning for Farstad Offshore Vessels
Rolls-Royce has signed a contract with the shipyard group Vard for its latest DP3 dynamic positioning system to be installed on two new offshore construction vessels. Dynamic positioning (DP) control systems allow vessels to be held in exact position, when anchoring is not possible, by using satelli
Lundin Petroleum to Double Production in Two Years
Lundin Petroleum AB announces that the yearly Capital Market Day is being held in Oslo, Norway today, 29 January 2014, for analysts and institutional investors. Ashley Heppenstall, President and CEO of Lundin Petroleum says: “Lundin Petroleum remains firmly committed to creating value through explor
Pemex Orders Two Accommodation Vessels
Mexico’s state-run oil company Pemex has ordered two accommodation vessels from the PMI Group. PMI’s Navantia and Barreras shipyards in Spain will construct the vessels. The construction of the ship will bring over 1 million working hours for Navantia, which means activity for 30 months. The vessels
Parkmead Raises $66M to Fund Its UKCS Growth
Parkmead has raised around $66 million through an oversubscribed placing of 15,686,275 new Ordinary Shares at 255 pence per share. The company says it has build a strong platform for future growth and has been actively executing its accelerated strategy to become a key E&P player in the UK North Sea
Dolphin Bags Two Seismic Survey Contracts
Dolphin has secured two 3D seismic survey contracts. The company did not reveal the identity of the clients, but only said the deals were signed with “two larger independent oil companies.” Both contracts, one in Norwegian waters, other offshore North West Africa, will take at least 3 months to be c
Wärtsilä Lays Off 1.000 Workers
Finland’s Wärtsilä is letting a 1.000 employees go. The company said that the measure is necessary in order to secure future profitability and competitiveness. The company-wide “efficiency programme”, how the company named it, is expected to lead to a reduction of approximately 1,000 workers, of w
UK Sees Rise in Field Start-Ups in 2013. Drilling Numbers Drop
The number of fields which began producing oil and gas in the UK hit its highest level for five years in 2013.