Fossil Energy
AMEC to Launch $3.2B Takeover Offer for Foster Wheeler
AMEC, the international engineering and project management company, announces that it has provisionally agreed with Foster Wheeler AG (Foster Wheeler) the outline terms for a recommended cash and share offer for all of Foster Wheeler’s issued and to be issued share capital. Foster Wheeler sharehol
Top News of The Week January 6 – 12, 2014
Camac, Bumi Armada Sign LOI for ‘Armada Perdana’ FPSO CAMAC Energy Inc. has signed a letter of intent for a long-term agreement for the floating, production, storage, and offloading system (“FPSO”) ARMADA PERDANA. Oil Leaking from Hibernia Platform Offshore Canada Hibernia Management and Developme
ONGC, Rocksource in Legal Dispute
Norway’s Rocksource ASA has received a legal notice from Oil and Natural Gas Corporation of India (ONGC) invoking arbitration related to disputes over historical costs in the CY-DWN-2001/1 Production Sharing Contract (PSC) offshore India. Rocksource said it was evaluating its response but added th
PSA Audits Det Norske’s Risk Management at Ivar Aasen
Between 29 and 31 October 2013, the Petroleum Safety Authority Norway (PSA) carried out an audit of the work of Det norske oljeselskap ASA (Det norske) to ensure compliance with the regulatory requirements for barrier management in the Ivar Aasen development project. The objective of the audit was t
Elisabeth Tørstad Becomes CEO in DNV GL – Oil & Gas
Elisabeth Tørstad is appointed CEO in DNV GL – Oil & Gas. She took on the role from January 2014, operating from the company’s Oil & Gas headquarter in Oslo. “I am very pleased to announce that Elisabeth Tørstad has accepted this role. Her background, career and experience match very well with the o
Noreco to Drill in PL 484 with Bredford Dolphin
Noreco Norway AS has received consent to use the Bredford Dolphin semi-submersible drilling rig on a well in the Norwegian Sea. The consent applies to drilling and permanent plugback of well 6608/10-16 in production licence 484. Water depth at the site is approximately 371 metres. The operations a
PSA Norway to Investigate Snohvit Gas Leak Incident
The Petroleum Safety Authority Norway is investigating the last week’s Melkøya gas leak incident. The gas leak at the Statoil-operated gas liquefaction facility outside Hammerfest was discovered Sunday night, January 5. Upon the discovery of the leak Statoil conducted a controlled shutdown and press
DeepOcean to Inspect Nord Stream Pipelines
DeepOcean AS, subsidiary of DeepOcean Group Holding BV, announced that the company has been awarded the contract for inspection of the Nord Stream gas export pipelines in the Baltic Sea by Nord Stream AG. The Contract is for two years and confirms DeepOcean’s strong position as a provider of advan
Fairmount Delivers Ensco 5004 Rig to Malta
Fairmount Marine has safely delivered rig ENSCO 5004 in Malta at the end of a voyage that began offshore Rio de Janeiro. Rig ENSCO 5004 is a 1982 built 94,7 meters long and 70,4 meters wide semi-submersible drilling rig. The towage of rig ENSCO 5004 from Rio de Janeiro to Malta took about 5,782 naut
Rising Costs Terminate Kristin Gas Export Project
Norwegian oil giant Statoil has announced that the Kristin gas export project (KGEP) partners today made a decision to terminate the project due to unsustainable economics caused by increased investment costs and increased risk to volume availability. The Kristin gas export project (KGEP) – a pipeli
Swedish EQT Buys Aker Solutions’ Well Intevention Business
Aker Solutions completed the sale of its well-intervention services business area to EQT, a Swedish private equity fund. The unit was sold for an enterprise value of NOK 4 billion and the agreement includes an earn-out provision where Aker Solutions will receive 25 percent of any internal rate of re
Lankhorst Ropes to Supply Mooring Lines for Western Isles FPSO
Offshore rope manufacturer, Lankhorst Ropes has been awarded a contract by Aberdeen based Dana Petroleum to provide Gama 98 polyester mooring lines for the Western Isles Development FPSO vessel (Floating Production Storage and Offloading). Given the weather conditions in the North Sea, and relativel
Wartsila, Rolls-Royce No Longer in Takeover Talks
Wärtsilä and Rolls-Royce have announced today that the companies are no longer in discussions under which Rolls-Royce would take over the marine business of the Finland’s engine manufacturer. In a press release issued this morning Wärtsilä‘s Board of Directors said: “Wärtsilä Corporation notes the r
Baker Hughes: International Offshore Rig Count Falls by 7
Baker Hughes Incorporated announced today that the international rig count for December 2013 was 1,335, up 24 from the 1,311 counted in November 2013, and up 82 from the 1,253 counted in December 2012. The international offshore rig count for December 2013 was 306, down 10 from the 316 counted in