Fossil Energy
Craig Group Celebrates 80th Anniversary with Higher Profits
Aberdeen headquartered global shipping and energy services firm, Craig Group, has marked its 80th anniversary with strong performance announced today as its accounts are lodged with Companies House. The Company has reported turnover of £146.8 million with operating profits of £17.4 million for the y
Aker Solutions Net Income Drops as New Orders Wane
Aker Solutions’ consolidated revenue was NOK 10,930 million in the third quarter, down from NOK 11,158 million in the same quarter a year earlier. Sales were NOK 33,897 million in the first nine months of the year, compared with NOK 32,888 million in the year-earlier period. Earnings before interest
Vard Profit Slips on Brazilian Yard Overload
Vard Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, today announced its results for the third quarter of financial year 2013 (“3Q 2013”) ended 30 September 2013. Financial and operating review VARD generated revenue of NOK 2.37 billion for 3
Ensco Announces Increased Quarterly Dividend
Ensco plc announced that its Board of Directors has declared a regular quarterly cash dividend of US$0.75 per Class A ordinary share payable on 20 December 2013 to holders of Ensco’s shares as of the 9 December 2013 record date. The prior quarterly dividend was $0.50 per share. Based upon yesterday’
Visund North Field Begins Oil Production
Visund North is the sixth project that has started production of the 12 “fast track” projects Statoil has in its portfolio. “Completion of the first production well as well as a production shutdown at the Visund A platform gave us some challenges, but in spite of this we are starting production only
Bibby Offshore to Use SPRINT Navigation System for ROV Operations
Aberdeen-based subsea installation contractor Bibby Offshore has chosen to invest in two SPRINT subsea inertial navigation systems from Sonardyne International Ltd. to support ROV operations carried out by its new offshore survey business division, Bibby Remote Intervention Limited (BRIL). Bibby Off
Ramboll Chooses Intergraph SmartMarine® Enterprise for All O&G Projects
Ramboll, a global provider of engineering, design and operational support services in the oil and gas, energy, environment and transportation industries, has standardized on Intergraph SmartMarine® Enterprise for all of its onshore and offshore oil and gas projects. Ramboll chose SmartMarine Enterpr
Lotos to Buy Stakes in Centrica’s Norwegian Offshore Fields for $175 M
Polish oil company Grupa Lotos has signed an agreement to buy into several Centrica Norge’s offshore concessions in Norway. According to a filing made by Lotos today, the company will buy stakes in Centrica’s producing fields Atla (20%), Skirne/Byggve (30%) and Vale (25.8%). Also, Lotos will buy int
Bureau Veritas Boosts Innovation in Dutch Maritime Industry
Leading international classification society Bureau Veritas is boosting innovation and sustainability in partnership with Dutch owners, builders and designers. Jan Smit, Senior Vice President and head of the North Europe & North America Zone of BV’s Marine & Offshore Division, says, “BV was founded
Vard to Build Survey Vessel for Circle Maritime (Romania)
Vard Holdings Limited, has signed a new contract for the construction of a survey vessel for Circle Maritime Invest JSC (CMI). The value is approximately NOK 55 million. The vessel, to be built at Vard Braila shipyard in Romania, will be delivered in 3Q 2014. Over the past few years, Vard Braila has
TTS CEO Resigns
The Board of TTS Group ASA has entered into an agreement with Johannes D. Neteland regarding termination of his position as CEO of TTS Group ASA effective from today, November 5(th). The Board has decided to constitute Björn Andersson in the position until further notice. The Board of TTS Group ASA
Ocean Rig, Energean Set Up JV Company (Greece)
Ocean Rig and Energean Oil & Gas join forces to participate in the new bid rounds for exploration and exploitation of hydrocarbons, in Greece and abroad, for sea depths exceeding 1000 meters. The two companies agreed to set up a new Joint Venture under the name “OceanEnergean”, with each company hol
Noreco: Huntington Production Still Reduced
Noreco, a Norwegian Energy Company, produced 3 714 barrels of oil equivalents (boe) per day in October 2013, and net realised price was USD 98.50 per boe adjusted for inventory. At the Huntington field the reservoir is performing as expected and the FPSO unit has continued to operate in a steady, re
Heerema’s ‘Aegir’ Wins KVNR Shipping Award
Heerema Marine Contractors’ new Deepwater Construction Vessel ‘Aegir’, a customised ULSTEIN SOC 5000 design developed by Ulstein Sea of Solutions, won the Dutch KVNR Shipping Award. The state-of-the-art vessel is designed for world-wide operations and suited for executing complex infrastructure and