Fossil Energy
Octanex secures finance for Ophir field development (Malaysia)
Octanex N.L. has announced that limited recourse project finance has been secured for the development of the Ophir field, offshore Malaysia. Octanex is a 50% shareholder in Ophir Production Sdn Bhd (“OPSB”) which was awarded the Ophir Risk Service Contract in June 2014. Octanex’s joint venturers in
Repsol nets $1.7B profit
Repsol posted net income of $1.784 billion (1.327 billion) euros in the first half of the year, an increase of 47% from the year-earlier period. This reflects a good performance of the company’s businesses as well as the success in securing a compensation agreement for the expropriation of YPF. Adju
Turkey approves EIA for EEZ section of South Stream Offshore Pipeline
The Turkish Ministry of Environment and Urbanisation has approved the Environmental Impact Assessment Report (EIA Report) for the section of the South Stream Offshore Pipeline that will cross the Exclusive Economic Zone (EEZ) of Turkey. The EIA Report consists of an assessment of potential impacts o
OMV spuds well offshore New Zealand
Cue Energy Resources Ltd (Cue) has been advised by OMV New Zealand Ltd, the Operator of permit PEP 51313, that the Whio-1 exploration well spud at 21:45 hours on 23rd July. The rig came on contract on 19th July and was towed 40 km from the previous location arriving at the Whio location on 20th July
Rosneft plans marine fauna monitoring in Northern Sea Route
Rosneft will conduct marine fauna monitoring in the Northern Sea Route in 2014. The studies will be organized by the Arctic Research Center, a joint venture of Rosneft and ExxonMobil. The objective of the said studies is a collection of data on marine fauna in Rosneft License Areas with a view to bu
TTS Group receives crane order from China
TTS Group ASA has through its subsidiary TTS Offshore Handling Equipment AS in Norway signed a contract for delivery of two offshore cranes worth approximately $9.7 million (60 MNOK). The contract is with a shipyard in China, and concerns delivery of two cranes for an offshore vessel. The vessel is
N-KOM gets two contracts from GDI
Gulf Drilling International Limited (GDI), a subsidiary of Gulf International Services (GIS), an oilfield service company in Qatar, has awarded two contracts worth $110 million to Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard between Nakilat and Singapore’s Keppel Offshore & Mar
Statoil secures offshore Colombia acreage
Statoil has been awarded interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round. Statoil will hold 33,33% in the licence. Repsol will be the operator of the licence and will hold 33,34%. ExxonMobil Exploration Colombia will hold 33,33%. The award is
TGS schedules two studies offshore Canada and Barents Sea
TGS has announced two multi-client geochemical seafloor sampling and seep studies offshore Canada and in the Barents Sea. Sampling locations for both programs were identified using recently acquired multi-client seismic data. The Labrador Sea Sampling 2014 will be collected in partnership with VBPR
BW Offshore takes full ownership of FPSO ‘Petroleo Nautipa’
BW Offshore has signed a sale and purchase agreement with Yinson to take 100% ownership of the FPSO Petroleo Nautipa, owned through Tinworth Pte. Ltd. Tinworth, and correspondingly the FPSO, has been 50/50 owned between BW Offshore and Yinson Holdings Berhad through their respectively wholly owned N
Songa Offshore wraps up rigs sale
Songa Offshore SE, a Cyprus-headquartered offshore drilling contractor, has today completed the previously announced sale of the Songa Mercur and Songa Venus rigs to the Opus Offshore Group. In line with the press release dated 25 April, 2014, Songa Offshore SE entered into an agreement with Opus Of
Hercules Offshore in Q2 slowdown
Hercules Offshore, Inc. has reported income from continuing operations of $6.6 million, or $0.04 per diluted share, on revenue of $243.0 million for the second quarter 2014, compared to income from continuing operations of $16.6 million, or $0.10 per diluted share, on revenue of $211.5 million for t
Congresswoman Capps urges BOEM to prohibit new offshore lease sales
Rep. Lois Capps (CA-24) led a letter from members of the California Congressional Delegation to U.S. Department of Interior Secretary Sally Jewell, urging her and the Bureau of Ocean Energy Management (BOEM) to prohibit any new offshore oil and gas lease sales in the Northern California, Central Cal
Bristow provides AW189 flights to Cygnus field
The first commercial flight of the much anticipated new generation AgustaWestland AW189 helicopter took place on July 21, 2014, as Bristow flew eight passengers out to the Cygnus field in the Southern North Sea. The aircraft is the first of two AW189s to be stationed at Bristow’s Norwich base and is