Fossil Energy
CGG Wins Diskos Contract
The Norwegian Petroleum Directorate (NPD) and the oil companies in the Diskos group have awarded contracts for software and operation of the Diskos databases to CGG. The contracts apply for the period 2015 to 2020. The contract award is a result of a comprehensive public procurement process, in whic
Reef Subsea Extends ‘Polar King’ Charter
The subsea service company Reef Subsea has today exercised its option to extend the charter party for the subsea vessel “Polar King” with nine months. This extends the current contract until February 2015. Reef Subsea has an option of extending the contract for another 15 months. “Polar King”, owned
Bumi Armada Enters North Sea Market with Kraken FPSO Deal
Malaysia-based oilfield services provider, Bumi Armada announced today that EnQuest has via a Letter of Interim Agreement , confirmed its intention to award a contract for the supply and operations of an FPSO to Bumi Armada to operate in the Kraken field (UKCS Block 9/02b) in the UK sector of the No
Boskalis Raises Full Year Earnings Outlook
Royal Boskalis Westminster N.V. (Boskalis) today announced it has concluded an exceptionally good third quarter. Revenue, adjusted for the sale of the 40% stake in Archirodon, and earnings were higher than in the first and second quarter of 2013 against stable market conditions. The order book incre
Gazprom: South Stream Project Steadily Moves Forward
The Gazprom Management Committee took note of the information concerning the progress with the South Stream gas pipeline construction. It was pointed out that the project was advancing steadily. Intensive efforts are being made in all of the countries to be crossed by the gas pipeline. For instance,
OGN Recevies FPSO Contract from EnQuest (UK)
OGN Group, the North East-England offshore engineering, procurement and construction (EPC) specialist, has secured a multi-million pound contract with independent UK oil and gas development and production company EnQuest, which will lead to the creation of 600 new project jobs at its Tyneside facili
DECC Approves EnQuest’s £4 Billion Kraken Development (UK)
EnQuest PLC has given its go-ahead for a £4 billion investment in the c.140 million barrel oil field Kraken development. According to EnQuest, the investment is set to generate billions of revenue for taxpayers and to support an estimated 20,000 jobs during the project’s construction period and an a
Sea Trucks Clinches Offshore Job at Russian Far East
Sea Trucks Group has received a contract from Daewoo Shipbuilding and Marine Engineering, a leading global offshore services company, for the provision of an accommodation vessel for the Arkutun-Dagi field operated by Exxon Neftegas Limited, offshore Sakhalin, Russia.
Maersk Oil Relinquishes Elly Area in Danish North Sea
Denmark’s Maersk Oil has, in agreement with the partners, decided to relinquish the Elly area from the Sole Concession and relinquish License 8/06, Area A in the Danish North Sea.
Seadrill Buys Under-Construction Rig in China
Prospector Offshore Drilling today informed that it has entered into an agreement to sell an under-construction jack-up rig to Seadrill. According to a press release issued by Prospector Offshore this morning, Seadrill will pay $55.2 million in cash to Prospector for the JU2000E-design rig, being bu
BOURBON Sells Two AHTS Vessels
BOURBON announces the sale of the Bourbon Surf and Bourbon Borgstein, two large 10-year old Norwegian built AHTS (Anchor Handling Tug Supply) vessels for a total amount of US$130 million, generating a total capital gain of approximately US$63 million. BOURBON will continue to operate the two ships
Statfjord A: Statoil’s Oldest Platform Alive and Kicking
The Statfjord A platform in the North Sea actually should have been shut down several years ago. Statoil, Centrica and ExxonMobil have now decided to extend production from the platform until 2020. “Statfjord A is our oldest platform and represents the history of the company’s inception. The exten
Technip Wins Diving Services Job at Edvard Grieg Field
Statoil has made a call-off for the framework contract Technip has with Statoil for diving services. The work will be performed in connection with the future Edvard Grieg Oil Pipeline as well as Utsira high gas pipeline in Norway. The project will help connect the oil pipeline from the Edvard Grieg
Norsk Olje&Gas Expects Drop in NCS Spending after 2014
A high level of activity in the Norwegian petroleum sector in recent years means that Norway has done much better than its trading partners in the wake of the financial crisis, writes Norsk Olje&Gas in its report. It also adds that capital investments are expected to drop after 2014. The industry