Fairstar Heavy Transport N.V. (FAIR) has signed a Bridge Loan Facility Agreement with Bank of China. The facility provides financing of the third installment of the construction of the FORTE in accordance with the Terms of Payment in the Shipbuilding Contract. The Bridge Loan Facility will be repaid
The Board of Appeal of the European Patent Office in Munich has today found that EMGS’ patent for the use of CSEM for the direct detection of hydrocarbons in submarine reservoirs is valid. The patent (EP 1256019) was the subject of an Opposition in the European Patent Office, but has successfully ov
The Norwegian Petroleum Directorate announces that preliminary production figures for November 2011 indicate an average daily production of about 2 057 000 barrels of oil, NGL and condensate. This is an increase of 18 000 barrels compared to October. Gas production was about 9.7 billion Sm3, which i
Upon request from the Ministry of Petroleum and Energy, the Norwegian Petroleum Directorate has prepared an atlas for CO2 storage in the Norwegian part of the North Sea. The atlas provides an overview over areas where CO2 can be stored safely in the subsurface for a long time. It also estimates the
At 8 & 9 December 2011, the Business Offshore Conference took place in Hamburg. Organized by Schiff&Hafen I Ship&Offshore, the first edition of the conference welcomed 140 delegates at the Hotel Hafen. The group of delegates consisted of German offshore professionals as well as delegates coming from
Prosafe, a Cyprus-based owner and operator of semi-submersible accommodation/service rigs has been awarded a contract by Cotemar Group (“charterer”) for a contract extension for Safe Hibernia to be used at Pemex’ Cantarell, an aging supergiant oil field in Mexico. The Safe Hibernia bareboat contract
Statoil has awarded Kongsberg Oil & Gas Technologies a contract worth NOK 150 million over three years to develop the world’s first integrated environmental monitoring system (EM) for oil and gas activities. Statoil currently employs several environmental monitoring methods at its installations, mai
Farstad Shipping ASA has, through its wholly owned subsidiary P/R International Offshore Services ANS, reached an agreement to sell the PSV vessel ‘Lady Christine’ (1985, ME 202, 2,368 DWT). Delivery of the vessel to the new owner is expected to take place within the end of December 2011. Sale of th
From 13 December, 6 am CET to 15 December, 6 pm CET, the gas flow through the Nord Stream Pipeline will be temporarily suspended due to planned maintenance works at Gazprom’s connecting pipeline. During the shutdown time, Nord Stream will also carry out maintenance activities at the installations on
Reservoir Group has strengthened its portfolio of completion and production services with the announcement that two well intervention specialists have joined the ‘club’. The Tool Company, located in Assen, The Netherlands and the Aberdeen-based firm, Wellbore Intervention bring their expertise in co
KONGSBERG has been awarded a significant offshore automation contract with Daewoo Shipbuilding & Marine Engineering (DSME). The contract covers deliveries to two semi-submersible drilling rigs (Cat-D), with an option for KONGSBERG to deliver products and services for two more semi-submersible drilli
FoundOcean hit a milestone in its 45 year history in November, with a record number of personnel mobilised on offshore projects. “This is a very exciting and busy time for FoundOcean. The success of the company relies on the dedication and skill of our offshore personnel who provide our clients with
IAR Systems, a provider of software tools for embedded systems, announced today that its build and debug tool chain IAR Embedded Workbench has been selected by Ocean Modules, an ISO 9001:2008 certified manufacturer of remotely-operated vehicles (ROV), for the next generation underwater technology. O
Heerema Fabrication Group (HFG) has been awarded the contract for the fabrication of two jackets for the Golden Eagle Development project of Nexen Petroleum UK Ltd. The contract consists of the fabrication of a 6,000 tons wellhead jacket and a 6,000 tons jacket for the PUQ (Production Utilities Quar
