Fossil Energy
DOF Subsea Hires ‘Harvey Deep-Sea’
DOF Subsea USA has entered into a long-term charter agreement with Harvey Gulf International Marine for the new build DPII Multipurpose Construction Vessel, the Harvey Deep-Sea. The four year charter agreement will commence upon delivery of the vessel from Easter Shipyard, Florida in June 2013. The
Ukraine Reapproves Vanco’s Black Sea Project
U.S. company Vanco has been given a green light to search for hydrocarbons in the Ukrainian sector of the Black Sea, the Kyiv Post yesterday reported. The Prykerchenska project, for which the company received the rights in 2006, was unilaterally cancelled by the previous government of Julia Tymoshen
2012 Was a Tough Year for SBM Offshore, CEO Says
SBM Offshore today reported a net loss for 2012 of US$ 74.9 million (2011 net loss of US$ 440.6 million). This result includes divestment profits, impairment charges, and other non-recurring items relating to the Yme and Deep Panuke projects which generated a net loss of US$ 473.4 million in 2012 (U
New Vessel and Contracts for GC Rieber Shipping (Norway)
Norway’s GC Rieber Shipping has entered into an agreement with Kleven Verft (“Kleven”) to build a new 22 streamer 3D seismic vessel with ice-class 1A*. The seismic company Dolphin Geophysical (“Dolphin”) has contracted the vessel for a fixed period of five years, and the high end vessel will enter t
Rosneft, ExxonMobil Bring Their Relationship to a New Level, Sechin Says
Rosneft and ExxonMobil have agreed to expand their cooperation under their 2011 Strategic Cooperation Agreement to include an additional approximately 600,000 square kilometers (150 million acres) of exploration acreage in the Russian Arctic and potential participation by Rosneft (or its affiliate)
Greece, Italy and Albania Cement Their Support for TAP Project
The governments of Greece, Italy and Albania have today cemented their full support for and commitment to the Trans Adriatic Pipeline (TAP) project by signing a tri-lateral intergovernmental agreement (IGA). Concluded at the Ministry of Foreign Affairs in Athens, the IGA solidifies a range of key co
Rosneft Secures $14.2 Bln Loan to Pay for AAR’s TNK-BP Stake
Russia’s Rosneft today, February 13, signed loan agreements for the total amount of U.S. $14.212 billion. The money raised will be used for the acquisition of a 50% stake in TNK-BP Ltd. from AAR (Alfa, Access, Renova) Consortium. The cost of the financing that is being arranged is one of the lowest
Vitol to Launch Takeover Offer for Sterling Resources
Vitol Anker International B.V., a wholly owned subsidiary of The Vitol Group, announced that it intends to make an offer to buy all of the outstanding common shares of Canada’s oil company Sterling Resources Ltd., not beneficially owned by Vitol Anker and its affiliates, for cash consideration of $0
Finland’s Wärtsilä Secures Loan for R&D Activities
Wärtsilä Corporation and Nordic Investment Bank have signed a loan agreement totalling EUR 50 million for research and development financing. The contract for this 10-year loan was signed in Helsinki, Finland on 13 February 2013. This R&D loan supports Wärtsilä’s long-term strategy of strengthening
Rapp’s Electrical ROV Winches for Technip’s “Deep Orient”
Rapp Hydema has delivered 2 ea. Electrical ROV Winches including all Electric Frequency controlled with PTS Pentagon, Active Heave Compensated Control System and 4 ea. Electric motors drive in parallel to Technip. The equipment was installed on board Technip’s new subsea construction & flexible pipe
Acteon Presents at SPE/IADC Drilling Conference (The Netherlands)
Acteon announces that its companies will attend the SPE/IADC Drilling Conference. The conference is a valuable opportunity for producers, contractors and service company professionals to connect with a view to advancing and improving drilling operations. The company will provide the opportunity to l
Plexus Wins Contract Extension from Maersk Oil UK
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces that Maersk Oil North Sea UK Limited (‘Maersk Oil UK’) has agreed to exercise two, one year extension options attached to an original contrac
Total to Spend $2.8 Bln on Exploration in 2013
French oil major Total today announced the net investment budget for 2013 of $22 billion. The exploration budget has been increased to 2.8 B$ for 2013, up from $2.5 billion in 2012. The company said that the high-potential exploration program for 2013 reflects the new dynamic of the Group, with pros
Dry Well for Statoil (Norway)
Statoil Petroleum AS, operator of production licence 169, is about to complete drilling of wildcat well 25/11-26. The well was drilled about nine kilometres northeast of the Grane field in the North Sea. The primary exploration target for the well was to prove petroleum in the Balder formation in Eo