Rapido Gee, a 42 meters long steel monohull utility vessel, built by Strategic Marine, has been delivered. Designed by Incat Crowther, Rapido Gee is currently in transit to the Middle East, where it will be operated by Rashied Marine Services in the service of offshore platforms. “In response to cal
By Aaron Sheldrick and Henning Gloystein TOKYO (Reuters) – Crude oil futures fell in Asian trade on Tuesday, as investors ignored signs of market tightness to focus on concerns over global growth and overnight declines in stocks on the impending vote on Britain’s possible European Union exit. Brent
Offshore and maritime classification society DNV GL has launched a guideline which “trashes unnecessary subsea documentation.” According to DNV GL, customer-case shows potential for a 40% reduction in engineering hours on subsea paperwork, and up to 80% less documentation. The guideline “Technical d
Italian oil company Eni has made a new ‘significant’ gas discovery in the Baltim South West exploration prospect, located in the Baltim South license, in the conventional waters of Nile Delta, offshore Egypt. Eni, through its subsidiary IEOC, holds a 50% stake in the license of Baltim South, while B
Italian oilfield services provider and drilling contractor Saipem has been awarded several new drilling contracts and extensions to existing contracts. The contracts of a combined value of around 150 million euros, are for work in Portugal, Norway, Morocco, Saudi Arabia, Kazakhstan and Latin America
The next five years will bring a reshaping of the global gas trade, the International Energy Agency (IEA) said Wednesday in its 2016 Medium-Term Gas Market Report. New liquefied natural gas (LNG) supplies are coming online just as demand growth in some major markets weakens, resulting in major shift
Iran has reportedly been involved in talks with South Korean shipyards over a possible offshore drilling rig order. According to the Wall Street Journal, Iranian Offshore Oil Co. (IOOC) is in discussions with Daewoo Shipbuilding & Marine Engineering to buy five or more jack-up drilling rigs. The new
Oilfield services provider Baker Hughes reported on Tuesday that the international offshore rig count for May 2016 was up by nine rigs sequentially and down by 55 rigs year over year. This is the second month in a row that the international offshore rig count is exhibiting similar behavior as Baker
Swiber Holdings, an offshore construction services provider to the oil and gas industry, has secured three new contracts with a total value of $215 million in the Middle East and Southeast Asia regions. Swiber reported on Tuesday it was awarded an Engineering, Procurement, Construction and Installat
The Leviathan, a gas field offshore Israel, is undisputedly one of the largest gas discoveries in the Mediterranean Sea, and until the recent Zohr discovery in Egypt, it was THE largest discovery in the area. Named after a Biblical sea monster, the Leviathan field was discovered in 2010, and operate
Aker Solutions has won a contract to deliver what is says is ‘its longest-ever umbilicals system’ at the Zohr offshore gas field in the Egyptian part of the Mediterranean Sea. The agreement with Petrobel in Egypt is worth more than NOK 1 billion ($122.2M) and will be booked in the second quarter. It
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OPEC failed to agree a clear oil-output strategy on Thursday as Iran insisted on steeply raising its own production, though Tehran’s arch-rival Saudi Arabia promised not to flood the market and sought to mend fences within the organisation.
French company Engie, previously known as GDF SUEZ, has appointed a new CEO for its Middle East, South & Central Asia and Turkey (MESCAT) business unit. Coming into effect in September 2016, Sébastien Arbola will take over over from Guy Richelle, who assumed these responsibilities on an interim basi
