Fossil Energy
New Offshore Shipping Player Buys Six PSVs
Newly-established offshore shipping company Nordic American Offshore ( NAO ) has agreed to acquire six platform supply vessels from Blue Ship Invest ( BSI ). The vessels are of the PX121 type, and were designed and constructed by ULSTEIN in 2012-13. NAO has its source from the international tanker c
Statoil Alters Sailing Routes to Platforms in North Sea
Statoil has decided to alter its sailing routes from the supply bases in Southern Norway to the platforms in the North Sea. The decision is a result of several years’ work aimed at optimising use of supply vessels and bases. The current sailing routes to the platforms in the North Sea from the bases
Wood Mackenzie: Danish Fiscal System Changes to Affect Bayerngas the Most
Wood Mackenzie’s analysis of the changes to the Danish fiscal system announced in September 2013, including the reduction in the rate of hydrocarbon tax and the size of hydrocarbon tax allowances, concludes that the changes would result in an increase in government take of US$ 1.15bn. The changes ar
Sonardyne: Marksman DP-INS Improves Rig Positioning Results
With the continued development of acoustically aided inertial navigation, Sonardyne International Ltd. announces that one of the world’s largest offshore drilling contractors has selected Marksman DP-INS for one of its semi-submersible drilling units. Installed alongside an incumbent Sonardyne dual
Bulgarian and Russian Sections of South Stream Pipeline Welded Together
The Rasovo compressor station site (Rasovo settlement, Medkovets Municipality, Montana Province) in Bulgaria hosted yesterday a ceremony of welding the first joint of the Bulgarian section of the South Stream gas pipeline. Taking part in the event via video link from the building of the Bulgarian Co
DOF Charters “Normand Reach” CSV
Reach Subsea AS announced today that the company has signed a Letter of Intent with DOF Subsea in Norway for the charter of the Normand Reach construction support vessel for a 2 year firm contract with 2 yearly options. Reach Subsea will provide subsea services including 2 Reach Subsea WorkROV syste
Schlumberger Launches New Downhole Reservoir Resting System
Schlumberger announced today the release of the Quartet downhole reservoir testing system enabled by Muzic wireless telemetry, which provides data in real time for validation so that critical information is available to meet the well test objectives. “When working in high-cost environments such as d
Clarksons Buys Gibb Tools (UK)
Clarksons, the world’s leading shipping services group, announces that Clarkson Port Services (CPS) its port and agency business has acquired Gibb Tools Limited, a leading specialist tool supplier to the industrial maritime and offshore sectors for a maximum total consideration of £12.7m. Establishe
Dolphin to Carry Out 4D Seismic Survey in North Sea
Dolphin have been awarded two additional 4D seismic contracts over producing fields in the North Sea. The contracts have been entered into with an undisclosed International Oil company. Dolphin will utilise the 3D vessel Artemis Arctic for these two surveys that is scheduled to start in April 2014.
Cargotec Buys Hatlapa
Cargotec announces today that its MacGregor business has completed the acquisition of Hatlapa, a leading provider of merchant ship and and offshore deck equipment. Cargotec announced the intention to acquire Hatlapa in July 2013 in a transaction valued at approximately EUR 160 million. The acquisiti
OMV Completes $2.65 Bln Purchase of Statoil North Sea Assets
OMV, the integrated, international oil and gas company, has closed the $2.65 billion acquisition of assets in Norway and the UK (West of Shetland area) from Statoil. Approval has been granted by the relevant authorities.
‘Seven Waves’ Arrives at Huisman Schiedam Quayside
Huisman, the specialist in lifting, drilling and subsea solutions welcomed Subsea 7’s Seven Waves at the Huisman Schiedam quayside. The vessel, built by IHC Offshore & Marine in Krimpen aan den IJssel, will be equipped with a 550mt Flex-lay system and a 400mt Offshore Mast Crane. The 550mt Flex-lay
BG Group Profit Slips on Lower Upstream & LNG Volumes
BG Group, British oil and gas exploration and production company, today reported its 3Q 2013 earnings fell down 4% to $1.1 billion Revenue and other operating income decreased 6% to $4 397 million, reflecting a 10% decrease in E&P production volumes and fewer LNG cargo deliveries, partly offset by f
Shell 3Q Earnings Drop
Royal Dutch Shell’s third quarter 2013 earnings, on a current cost of supplies (CCS) basis, were $4.2 billion compared with $6.2 billion in the same quarter a year ago. Third quarter 2013 CCS earnings excluding identified items were $4.5 billion compared with $6.6 billion in the third quarter of 201