By Alex Lawler and Bate Felix PARIS (Reuters) – OPEC Secretary-General Mohammad Barkindo said on Thursday that an overhang in global oil inventories was declining but stockpiles still needed to fall closer to the five-year industry average. “While it is evident that the market rebalancing is now mov
Dutch marine contractor Heerema Marine Contractors has been awarded the first two contracts for the Sleipnir, the world’s largest semi-submersible crane vessel. The first contract is from Noble Energy Mediterranean, Ltd. for transportation and installation services associated with the Leviathan prod
Offshore driller Shelf Drilling is set to expand its fleet with three jack-up rigs. The company, one of the world’s largest jack-up rig contractors, has decided to conduct a private placement of new common shares, aiming to raise $250 million, to be used for fleet expansion. Shelf has entered into l
Marine logistics services provider Atlantic Navigation has been awarded a $45.2 million project for the purchase and removal of decommissioned offshore and onshore facilities by a Middle Eastern national oil company (NOC). The company said on Tuesday that the contract was won by its subsidiary, Atla
Offshore driller Ensco has been awarded several contracts and contract extensions for its jack-up rigs. In its fleet status report on Monday, the driller said that the 2005-built jack-up rig Ensco 106 was awarded a four-well contract with Sapura Energy offshore Malaysia, which started in March 2017
Offshore services provider DeepOcean has been awarded a contract for the provision of post-lay trenching and backfilling works on 56 kilometers of power cable offshore UAE. DeepOcean said that the contract award came on the back of two completed projects offshore UAE in 2016 and early 2017. The comp
Petrofac has secured several contracts in Iraq during the first quarter of the year. In a statement on Tuesday, the company said the contracts were worth more than $70 million and were for engineering, operations and maintenance services in Iraq. Petrofac’s Engineering and Production Services’ (EPS)
Tony Hayward, former CEO of the oil major BP, is leaving his chairman position at Genel, an independent oil and gas exploration and production company. Genel said on Monday that Hayward would retire as a director and chairman of the company at the conclusion of the 2017 annual general meeting which
Bureau Veritas (BV), a provider of testing, inspection, and certification services, has been awarded a contract by Noble Energy for independent verification of development executions on the Leviathan project, offshore Israel. BV said on Monday that it would provide an independent assessment of compl
Offshore rig builder Lamprell has made changes to its board and senior management following a successful transition to the new chief executive officer. Lamprell said on Monday that John Kennedy decided to stand down from his position as executive chairman and to resume his role as a non-executive ch
The most popular articles of the week.
The world is awash with more offshore rigs than it will ever need. But established rig owners can ignore that and focus on the market recovery. By David Carter Shinn Certain trends which signify a rig market recovery have emerged insidiously over the past four months. Now they’re obvious enough to
Ithaca Energy, a North Sea oil and gas operator, is ready to get taken over by the Israeli oil and gas company Delek. Ithaca on Friday said that all the conditions of the previously announced cash takeover offer for the shares not already owned by Delek had been satisfied. According to Ithaca, the o
Offshore drilling contractor Rowan Companies has been awarded more work for its jack-up drilling rigs in Saudi Arabia, Norway, and the U.S. Gulf of Mexico. According to its latest fleet status report on Wednesday, Rowan has been awarded a contract extension for the Gilbert Rowe jack-up drilling rig
