Fossil Energy
NSE UK2 Enters ‘Bagpuss’ Farm Out Deal with Maersk Oil
North Sea Energy Inc. has through its wholly owned subsidiary, North Sea Energy (UK NO2) Limited (“NSE UK2”), entered into a farm-in agreement with Maersk Oil North Sea UK Limited (“Maersk Oil”) to participate in the initial exploration and appraisal of the Company’s UK North Sea blocks 13/24c and 1
Maersk Oil Profit Hit by Lower Prices and Output
Denmark’s Maersk Oil today reported net profit of $249 million, a drop from the $468 million achieved in the same period last year. The result was negatively influenced by lower average oil price of USD 102 per barrel compared to last year’s USD 108 per barrel and lower entitlement production of 226
AGR Inks Frame Agreement with NPD
Global oil and gas service provider AGR has won a major contract to deliver a two-year frame agreement for the Norwegian Petroleum Directorate (NPD). Under the agreement, AGR’s Norway-based Reservoir Management Team will deliver services within geology and reservoir engineering, including reservoir
Kvaerner Reports Rise in Net Income. Targets Johan Sverdrup
Kvaerner, a Norway-based engineering and construction services company, reported 2Q 2013 net income of NOK 75 million ($12.7 mln), compared to NOK 42 million ($7 mln) in 2Q 2013. “The activity has been very high this quarter and both jackets for the Clair Ridge project were delivered. We focus on pr
Maritime Developments Opens Larger Base in Aberdeen
Maritime Developments (MDL), a leading provider of back-deck equipment for the subsea sector of oil and gas industry, has tripled the size of its Aberdeen office. The company has moved from Spademill Lane in the west end to 1,500sq ft premises on Dee Street in the city centre. The new four-floor off
Deep Sea Supply Plans Significant PSV Fleet Expansion
Deep Sea Supply, a Cyprus-headquartered owner of offshore support vessels, is looking to significantly expand its fleet to meet growing demand. In its quarterly results release, the shipowner revealed it is in talks with PSV Holding Inc, a company affiliated with Hemen Holding, to acquire up to ten
Senergy Wins Statoil Survey Contract
Fast-growing global energy services company Senergy has marked a business first after being awarded a framework agreement to provide geotechnical representatives on behalf of a client and its site investigation work. The agreement, which has been secured through Senergy’s survey and geo-engineering
NADL, Seadrill to Boost Harsh Environment Business through Strategic Partnership
North Atlantic Drilling Ltd. and Seadrill Limited announced in their first quarter 2013 reports that the companies were actively engaged in discussions with potential strategic partners in order to strengthen NADL’s position in harsh environment areas. The basis for the establishment of NADL in 2011
EMAS AMC Extends ‘BOA Deep C’ Contract
Singapore’s EMAS AMC has extended the contract for the BOA Deep C offshore construction vessel. The vessel, owned by Boa OCV AS, will stay with EMAS AMC for another 60 days. The vessel has been working for EMAS since 2008. After the completion of the contract the vessel will complete its scheduled c
Solstad Sells ‘Normand Clough’ CSV to SapuraClough
Solstad Offshore, a Norway-based owner of offshore support vessels, has sold the ‘Normand Clough’ subsea support vessel to SapuraClough in Australia.
Statoil Makes Small Oil Discovery in Norwegian Sea
Norway’s Statoil , operator for production licence 159 C, is in the process of completing drilling of the wildcat well 6507/3-10. The well was drilled about 12 km south of the Norne field in the Norwegian Sea. The purpose of the well was to prove petroleum in reservoir rocks of the Middle and Early
Huisman Opens Norwegian Base
Huisman, the worldwide specialist in lifting, drilling and subsea solutions, has recently opened up a new office in Bergen, Norway: Huisman Norge AS. The new representational office is a 100% subsidiary of Huisman and is set up to meet the increasing demand within the Norwegian offshore market. This
Bibby Offshore Hires ‘Mermaid Endurer’ DSV
DSV Mermaid Endurer secures contract award from Bibby Offshore with estimated value of USD 30 million; fulfills strategy of re-entry into the North Sea
Awilco Drilling 2Q Profit at $29.4 Million
Awilco Drilling PLC, a UK-based drilling contractor, today reported contract revenue of USD 59.5 million in Q2 2013 (USD 53.4 million in Q1), EBITDA of USD 38.6 million (USD 33.9 million in Q1) and net profit of USD 29.4 million (USD 24.7 million in Q1). Contract backlog at the end of Q2 was approxi