Lamprell, UAE-based provider of fabrication, engineering and contracting services to the oil and gas industry, has made several changes to the Board and senior management of the company. Namely, James Moffat has decided to retire effective June 30, 2016, and will stand down as Chief Executive Office
After months of stalemate, Israel might be making a step towards the development of the giant offshore gas field, the Leviathan. It has been announced that an agreement has been reached this week with gas operators Noble Energy and Delek Group. The draft will be presented to the cabinet on Sunday fo
Oil prices stabilised on Thursday, supported by lower U.S. stockpiles and a firm demand outlook, but worries over China’s economy continued to weigh.
SpeedCast International Limited, a global telecommunications service provider, has been awarded a multi-year communications contract from Abu Dhabi’s Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sect
The International Energy Agency (IEA) said Wednesday in its Oil Market Report for August that global oil demand in 2015 is expected to grow by 1.6 mb/d, up 0.2 mb/d from IEA’s previous Report and the fastest pace in five years, as economic growth solidifies and consumers respond to lower oil prices.
Paragon Offshore, a global provider of offshore drilling rigs, has stacked two jack-up drilling rigs and has been awarded several contract extensions with reduced dayrates. According to its latest fleet status report issued Tuesday, Paragon stacked the jack-up rig Paragon L1113 in the U.S. Gulf of M
McDermott International, Inc. on Monday reported second quarter 2015 net income of $11.5 million, compared to a net loss of $7.4 million for the same period in 2014. The company said on Tuesday that, had it not been for restructuring charges and one-time losses on the impairment and disposal of asse
Popular news, August 3 – 9, 2015
The International Marine Contractors Association (IMCA) has published stats of two surveys it has conducted in 2014, to reflect remotely operated vehicle (ROV) and ROV personnel levels. According to IMCA’s surveys, in February 2014 a total of 3,369 ROV personnel were working, including superintenden
The worldwide offshore rig count in July 2015 dropped to 299 active units, down by ten from 309 in June 2015, and down 96 rigs from July last year, Baker Hughes reported Friday. According to the report, the international offshore rig count in July (excluding the U.S. and Canada) was 264, down from 2
Austal Limited has delivered the first of two high speed catamaran ferries to the Abu Dhabi National Oil Company (ADNOC). The contract for two 45 metre catamaran ferries was awarded in April 2014 and valued at approximately $30 million, with the vessel constructed at Austal’s Philippines shipyard. A
As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year – a speculative slide below $50 (32.16 pounds) a barrel followed by a quick recovery.
Polarcus, a marine seismic data acquisition specialist based in Dubai, has reported a drop in its 2Q revenues of $91 million, compared to $137.6 million in the second quarter 2014. The company’s net profit also fell. Polarcus reported a net loss of $78.3 million, versus a net profit of $9.2 million
An official at the Iranian Offshore Oil Company (IOOC) says the company has succeeded to increase crude oil production from the Salman oil field in the Persian Gulf, which Iran shares with the United Arab Emirates. Abbas Rajab-Khani, the official in charge of the IOOC’s operations in Lavan region sa
