Lamprell has received a contract award from Jacktel AS, a wholly owned subsidiary of Master Marine AS, for the upgrade of the mobile operating unit “Haven” as an accommodation service vessel for the Statoil-operated Johan Sverdrup field, offshore Norway. The scope of works includes procurement, cons
The most popular news of the week.
Financial performance of the offshore rig builder Lamprell during the first half of 2016 was impacted by a late delivery of a jack-up drilling rig for which the company took a $35 million hit. To remind, the delivery of the Ensco 140 jack-up rig was delayed in June this year due to a technical issue
Eni upgraded the field potential of Baltim South West, offshore Egypt, to 1 trillion cubic feet (Tcf) of gas in place, following the results of the appraisal well Baltim South West 2X. The appraisal well was drilled immediately after the drilling of the discovery well Baltim South West 1X. The Balti
Seamec, a provider of diving support vessels and services, has entered into a charter hire agreement with Sanat Gostar Kish for the Seamec Princess vessel which will see the DSV work in the Persian Gulf. Seamec said in a stock market filing on Wednesday that the contract was for 50 days with an opti
By Amanda Cooper LONDON (Reuters) – Oil prices jumped 2 percent on Wednesday after a surprisingly large drop in U.S. crude inventories and as an oil services workers strike in Norway threatened to cut North Sea output. Brent crude futures <LCOc1> were up 91 cents at $46.79 per barrel by 1113 GMT, wh
Oil prices rose on Monday from multi-week lows after Venezuela said OPEC and non-OPEC producers were close to a deal to stabilise the market and as clashes in Libya disrupted attempts to boost crude exports.
The oil market is recovering but at a slow pace, and it could take six months for oversupply to disappear and another six to twelve months to burn excess inventories, McKinsey Energy Insight said in its recent report. McKinsey also feels OPEC’s capacity to increase production further could keep the
MacGregor, a provider of deck machinery and cranes for offshore support vessels, has won what it describes as a “comprehensive equipment package” of contracts for a variety of seven specialist support vessels that will operate in the Middle East region. MacGregor will deliver deck cranes and a range
The most popular news of the week
Offshore drilling contractor Noble Corporation has received a contract extension for a semi-sub rig. However, the rig’s dayrate has been more than halved. According to the driller’s latest fleet status report on Thursday, the 1981-built semi-submersible rig Noble Paul Romano has received a one-well
BP Exploration (Delta) Limited, UK has ordered approximately 100 km of static umbilicals and associated accessories from Nexans for the next stage of the West Nile Delta project in Egypt. Nexans said on Tuesday that this contract will help BP, and partner DEA (Deutsche Erdoel AG), develop the Giza,
Global oil demand growth is slowing at a faster pace than initially predicted, International Energy Agency said in its Oil Market Report (OMR) for September. For 2016, a gain of 1.3 mb/d is expected – a downgrade of 0.1 mb/d on IEA’s previous forecast due to a more pronounced third quarter 2016 slow
Italian oil company Eni has reached a production of 700 million cubic feet of gas per day, corresponding to 128,000 barrels of oil equivalent per day (boed) of which 67,000 net to Eni, from Nooros field, off Egypt. The field was discovered in Egypt’s Nile Delta in July 2015 and put into production i
