Fossil Energy
UMW Oil & Gas in talks to secure long term contract for ‘Naga 5’. Maybank optimistic
Malaysia’s UMW Oil & Gas is set to receive its Naga 5 jack-up rig one month ahead of schedule, Maybank Research said.
U.S. records highest oil production level since 1989
Total U.S. crude oil production in 2013 averaged 7.5 million bbl/d in 2013, 967,000 barrels per day (bbl/d) higher than 2012 and the highest level of U.S. production since 1989. In December 2013, U.S. crude oil production reached 7.9 million barrels per day (bbl/d), according to EIA’s recently relea
GDF Suez: Second Juliet field well comes on stream
GDF SUEZ has started gas production from the second of two development wells on the Juliet field in the North Sea, on the 9th of March. The Juliet field is a subsea development on the western flank of the Southern Gas Basin, 39 km east of the Lincolnshire coastline in the United Kingdom. This [&he
Seadrill takes delivery of ‘T-18’ tender rig
China’s COSCO (Nantong) Shipyard Co. has delivered a tender rig T-18 to Seadrill. Seadrill, one of the world’s largest drilling contractors ordered the tender rig in May 2012. Total project price is estimated at US$135 million, including project management, drilling and handling tools, spares, and c
O-Tube offshore pipeline research wins 2014 AIRG Medal
Recently, a joint research project between The University of Western Australia and the oil and gas industry which has improved the design of offshore oil and gas pipelines and attracted international interest has won the 2014 AIRG Medal for Australasian Major Industry Technological Innovation. The a
Shell CEO: We need to tighten grip on performance management
Shell’s CEO Ben van Beurden today reinforces his priorities for the company in presentations to financial markets. Van Beurden said: “Shell has a strong asset base and industry leadership in many of its growth themes. While this position of strength gives confidence for the future, it is also clear
DNV GL names regional manager for UK and Southern Africa
Hari Vamadevan has been appointed as DNV GL’s regional manager for UK and Southern Africa as the company looks to establish itself as the leading technical advisor to the oil and gas industry. Vamadevan was previously DNV’s UK regional manager and the new role will see him head up 13 oil and gas rel
Norway: February oil production in line with NPD forecast
The Norwegian Petroleum Directorate has announced preliminary production figures for February 2014. The figures indicate an average daily production of about 1 931 000 barrels of oil, NGL and condensate. This is 34 000 barrels per day (about 2 percent) less than in January 2014. Total gas sales were
Damen Fast Crew Suppliers to serve Pemex in Mexico
Mexican offshore company Naviera Integral and Damen Shipyards Group signed a contract for four more Damen Fast Crew Suppliers 5009 (FCS 5009). The first two vessels will be delivered from stock and will be handed over in Vietnam on April 16th of this year. The other two vessels will start constructi
BAS relinquishes Vic/P42 in Gippsland Basin
Bass Strait Oil Company’s request for cancellation of the Petroleum Exploration Permit Vic/P42 in Australia has been approved by the National Offshore Petroleum Titles Administrator. On the 20th September 2013, Bass Strait Oil Company announced the execution of a Collaboration Agreement with HIREX P
Petrobras makes oil discovery in Potiguar basin (Brazil)
The results confirm the discovery of intermediate oil (24º API), as previously announced to the market on December 17, 2013.
Boskalis’ 2013 revenue and net profit rise
Royal Boskalis Westminster N.V. achieved revenue of EUR 3.5 billion in 2013 (2012: EUR 3.1 billion). Net profit rose sharply to EUR 366 million (2012: EUR 249 million), partly due to a number of extraordinary items amounting to EUR 97 million post tax. Boskalis intends to distribute a dividend of EU
Micoperi hires ‘Cecon Pride’
Cecon ASA has entered into a bare-boat contract for the first newbuild SSC vessel “Cecon Pride” with Micoperi SLR.
Otto Marine wins work for three offshore vessels
Otto Marine Limited has secured contracts amounting to US$24.9 million for three offshore support vessels. Starting in May 2014, Redfish 4 will be deployed for work on long term charter in Mexico. Redfish 4 is an 8,000bhp Anchor Handling Tug Supply (AHTS) vessel equipped with dynamic positioning 2 c