Fossil Energy
Tower Resources Raises £1.04 Through Open Offer
Tower Resources plc , the AIM listed Africa focused oil and gas exploration company, announced on 25 July 2013 the details of the firm £9.0m Placing at 1.125 pence per share and the Open Offer of up to £4.1m at 1.125 pence per share. The Open Offer has now closed in accordance with its terms. [&hell
Det Norske Secures Drilling Permit for North Sea Wildcat
The Norwegian Petroleum Directorate has granted Det norske oljeselskap ASA a drilling permit for wellbore 2/1-15, in the Norwegian part of the North Sea. Well 2/1-15 will be drilled from the Mærsk Giant drilling facility at position 56°52’58.14’’N and 3°12’47.53’’E following completion of the drilli
‘Northern Explorer’ Seismic Vessel Heading Toward the Mediterranean
SeaBird Exploration Plc has announced announce that the Northern Explorer seismic acquisition vessel has been awarded a contract in the Mediterranean. The contract has an estimated duration of 150 days, including mobilization from South Africa, and a value of approximately USD 10.5 million. SeaBird
Sparrows Turnover Reaches £188 Mln
Sparrows, a company specialising in offshore lifting and mechanical handling services, has announced an excellent trading year in 2012 with increases in both profits and turnover. Earnings at the Aberdeen head-quartered company before interest, tax, depreciation and amortisation (EBITDA) were £20.8
Ferguson Group: International Sales Grow
The Ferguson Group, global specialists in the provision of offshore DNV 2.7-1/EN12079 containers and accommodation solutions, has posted its 2012 results, which show continuing growth, with worldwide sales increasing by over 10% to £57.6m and pre tax profits up to £16.2m from £15.6m in 2011. Comment
Statoil Gets Nod to Use ‘Polar Pioneer’ Rig (Norway)
Norwegian oil company Statoil Petroleum AS (Statoil) has received consent to use the Polar Pioneer semi-submersible drilling rig. The consent, given by the Norwegian Petroleum Safety Authority, applies to permanent plugback of well 31/5-J-41 and sidetrack drilling of well 31/5-H-2 in the Troll field
Spectrum to Acquire Seismic Data Offshore Croatia
Spectrum signed a contract with the Ministry of the Economy in Croatia in July 2013 for the rights to acquire Multi-Client 2D seismic data offshore Croatia. Spectrum will acquire the seismic data using Seabird and is currently mobilizing to acquire approximately 12,000 kilometres of long offset seis
Top News of The Week August 5 – 10, 2013
Top News of The Week August 5 – 10, 2013
SPX Provides Pumps for North Sea Oil Platforms
SPX Corporation has announced that its Flow Technology segment has been awarded two contracts worth a combined total of approximately $40 million for ClydeUnion-branded pumps that will play a vital role in two offshore oil production platforms being constructed in the North Sea. Under the terms of o
Ula Field Issues Shut Down Oselvar Production (Norway)
BP has informed that due to a defect gas compressor at the Ula field, which serves as a processing hub for nearby oil fields, Ula will not be able to recto receive and process production from satellite fields, leaving the Oselvar field shut down. The news has been revealed by Noreco in a filing to O
New AUV Delivered to MODUS (UK)
Modus Seabed Intervention, the leading subsea engineering and specialist Unmanned Underwater Vehicle (UUV) service provider, has taken delivery of its first Autonomous Underwater Vehicle (AUV) as the company expands its technology-led subsea capabilities. The acquisition is part of a planned investm
Eidesvik Sells ‘Viking Forcados’ MPSV
Norwegian shipowner Eidesvik has entered into a memorandum of agreement for the sale of the vessel Viking Forcados to an undisclosed buyer. A deposit of 5% of the purchase price has been received by Eidesvik. The vessel is slated for delivery to new owners in 3rd Quarter 2013. According to Eidesvik,
Air Energi Revenues Up 39%
Air Energi Group, the global workforce solutions provider for the oil and gas industry, has published its financial end-of-year report for 2012. The numbers confirm another year of stellar growth for the company, with a turnover of £290 million (up 39 per cent year-on-year) translating into a gross
Faroe Petroleum Buys Interest in East Foinaven Field (UK)
Faroe Petroleum has completed the previously announced acquisition of a 10% non-operated interest in the BP-operated East Foinaven oil field and a 0.5% interest in the West of Shetland Pipeline System, both from Marubeni Oil & Gas (North Sea) Limited. The net consideration payable for the acquisitio