Fossil Energy
Marco Polo Marine orders hi-spec jack-up rig
Singapore Exchange Mainboard-listed Marco Polo Marine Ltd has entered into an agreement with PPL Shipyard Pte Ltd, a subsidiary of Sembcorp Marine Limited, to construct a high-specification jack-up rig with a contract value of US$214.3 million. The rig is slated for delivery inin the fourth quarter
Petrobras 2013 profit rises 11 pct
Brazil’s state-run oil company Petrobras has reported its 2013 net income was 11% up on 2012 due to diesel (20%) and gasoline (11%) price increases in 2013, increased production of oil products, cost optimization, gains from the sale of assets, lower write-offs for dry wells and lower foreign exchan
Modest earnings growth for Petrofac
Petrofac Limited, a UK-based oilfield services provider, has released their final results for the year 2013, reporting Net profit of US$650 million. Compared to the last year’s US $6.2 billion, revenues are up by 1% to US$6.3 billion. EBITDA is up 17% to US $1,031 million (US $883 million in 2012).
Nam Cheong breaks its quarterly profit record
Malaysia’s Nam Cheong Limited achieved a record 4Q revenue of RM406.1 million (approx. $124 million), which was 7% higher than the RM379.2 million (USD 116 million) received in the corresponding period last year (“4Q 2012”). In line with its topline performance, the Group achieved another record-bre
Oceaneering gets new VP and CIO
Oceaneering International, Inc. announced that Eric A. Silva has joined Oceaneering as Vice President and Chief Information Officer (CIO). Silva’s career spans over 30 years, with more than 10 years of information technology services leadership experience, in the chemical, energy, and oil and gas in
Pacific Drilling had an outstanding 2013, CEO says
Pacific Drilling S.A. today announced revenue of $200.5 million and net income of $25.7 million or $0.12 per diluted share for the fourth quarter of 2013. This compares to revenue of $193.2 million and net income of $30.3 million or $0.14 per diluted share for the third quarter of 2013. In the fourt
ShawCor to provide pipeline coatings for Moho Nord
ShawCor Ltd. today announced that its Socotherm pipe coating division has received a contract with a value in excess of US$40 million from Tenaris to provide pipeline coatings for the Moho Nord Oil Pipeline project. The Moho Nord project is located in water depths of 650 to 1,150 metres approximatel
Tap Oil books additional contingent resources off W. Australia
Tap Oil, an independent oil and gas exploration company from Australia, has provided an update on its contingent resources in the WA-49-R retention lease in the offshore Carnarvon Basin, including the Zola, Antiope and Bianchi-1 discoveries. This follows the successful Bianchi-1 discovery in July 20
UK offshore oil industry faces biggest challenge in 50 years
Oil & Gas UK has published its Activity Survey 2014, highlighting the contradictions currently at play in the UK offshore oil and gas sector. The industry trade body’s annual report on oil and gas exploration, production and investment activities forecasts capital expenditure of around £13 billion i
Petrobras reaches record daily production
On February 20, oil production in fields operated by Petrobras in the Santos and Campos Basin pre-salt accumulations rose to 407,000 barrels per day (bpd), a record daily output. “It has taken eight years to achieve this level of output since initial discovery in 2006, much faster than the time take
Alewijnse wins FPSO Perintis maintenance contract
Alewijnse Marine Systems has won a service and maintenance contract for M3nergy’s 94,000 DWT FPSO Perintis, three weeks before it officially announces the setting up of two new Asian hubs, in Malaysia and Singapore. Under the agreement Alewijnse will be responsible for a substantial part of the elec
16 more companies join Barents Sea seismic project
The project for joint seismic acquisition in the southeastern Barents Sea has been joined by 16 new companies. A total of 33 companies are now part of this project, which will secure good data quality and low acquisition costs. A joint acquisition of data will also limit any possible negative conseq
Dyna-Mac receives orders from Keppel, Modec and Bumi Armada
Dyna-Mac Holdings Ltd. a multi-disciplinary offshore fabrication specialist with core focus in FPSO/FSO topside modules, has secured three new fabrication orders for a provisional sum of S$42 million. Lim Tze Jong, Executive Chairman and CEO of Dyna-Mac commented: “Moving forward, we continue to loo
Swissco looking at fleet expansion
Swissco Holdings Limited has announced its financial results for the three months/full year ended 31 December 2013. Financial highlights of the results and future plans: Revenue edged up 4.3% y-o-y to record high of $114.7 million on organic growth in core businesses Proposed first and final dividen