Fossil Energy
Noreco’s 3Q Net Loss Deepens
Norwegian Energy Company ASA (Noreco) today presents its third quarter 2013 report, with a negative EBITDA of NOK 284 million and a net loss of NOK 569 million for the period. The results for the quarter were marked by a number of significant one-off write-offs and write-downs related to exploration
Prospector Offshore Completes Sale of Jack-Up Rig to Seadrill
Prospector Offshore Drilling S.A. has completed the previously announced sale of an under-construction jack-up rig. Reference is made to the Company’s announcement on 15 November 2013, regarding the agreement with Seadrill Jack-up Holding Ltd., a subsidiary of Seadrill Limited, for the sale and purc
New Contracts for Scana Propulsion
Scana Industrier ASA has through its subsidiary Scana Propulsion in November signed new contracts where one contract is for delivery of a propulsion systems to Kleven Verft, and two contracts are for delivery of tunnel thrusters to Nordic Yards and Guangzhou Salvage Bureau. The contracts have a tota
Neptune Completes Several Underwater Welding Projects
Neptune has recently completed a number of repair projects utilising the Company’s patented dry underwater welding technology, NEPSYS®. The projects include; a bilge keel repair on an FPSO in Australia, subsea inspection and remedial work on an offshore production platform in China and welded repair
VIDEO: Coast Guard Rescues Two from Gulf of Mexico Lift Boat
The Coast Guard rescued two people from a lift boat in foul weather 30 miles offshore Mobile in the Gulf of Mexico, Tuesday. Watchstanders from Coast Guard Sector Mobile received a phone call from Offshore Marine Contractors that the lift boat Lucas Bourg was concerned about the stability of their v
Otto Energy Takes Over BHP Billiton’s Interest in SC55 (Philippines)
Otto Energy Limited has executed a letter of intent with BHP Billiton Petroleum (Philippines) Corporation, proposing to terminate the farm-out agreement between the two parties over Service Contract 55 (SC55), offshore the Philippines. The letter of intent contemplates the re-assignment of BHPB’s
W&T Offshore Could Be Banned from Taking Part in Future Federal O&G Leases
W&T Offshore, Inc. announced today that it has recently received notices from U.S. Government regulators that could affect certain aspects of its operations on Federal oil and gas leases in the Gulf of Mexico. “The Company believes these regulatory actions are undeserved and do not reflect the degre
Petrofac Launches KW Subsea in Malaysia
Petrofac has announced the launch of its newly extended KW Subsea business which will enhance the Petrofac Group’s offer in the deepwater offshore engineering services sector in the Asia-Pacific region. Consistent with the Group’s strategy and ambitions of further penetration into the offshore oil a
Maersk Training Names UK Managing Director
Maersk Training announced today that the company appointed Stuart Cameron as UK Managing Director. Cameron, who was previously managing Maersk Training in Newcastle, will now oversee both UK training centres in Aberdeen and Newcastle, and will be responsible for driving further the company’s expansi
Aker ASA Acquires Stake in Aker Solutions
Aker ASA has acquired 16,440,000 shares in Aker Solutions ASA at a price of NOK 115 per share. The shares were acquired after close of markets yesterday through an accelerated book-building process managed by ABG Sundal Collier Norge ASA and Arctic Securities ASA. Aker ASA now holds directly 16,440,
ONGC Eyeing More Oil & Gas Assets in Vietnam
India’s ONGC Videsh has signed Memorandum of Understanding with Petrovietnam (PVN) to promote the joint cooperation in hydrocarbon sector in Vietnam, India and other countries. The MOU signing was witnessed by Prime Minister of India and Secretary General of Communist Party of Vietnam .The MOU was
Eni Pens PSC for Offshore Block in Ukraine
Eni signs production sharing agreement with the Ukrainian government for offshore exploration and development Today in Kiev, Eni signed a Production Sharing Agreement with the Ukrainian government, represented by the Minister of Energy Eduard Stavytsky, in the presence of the President of Ukraine Vi
AIS to Open Offshore Survival Centre in January 2014 (UK)
AIS is developing a new offshore survival centre to cope with the growing demand for training courses from the offshore industry. The 20,000 sq ft training centre will be built next to AIS’s headquarters on the Tyne Tunnel Trading Estate and will complement the company’s existing 120,000 sq ft learn
Statoil to Drill North Sea Well Using ‘Ocean Vanguard’
Norway’s Statoil has been granted approval to carry out exploration drilling of well 16/2-19 S&A in production licence 265 in the North Sea using the Ocean Vanguard semi-submersible drilling rig. Water depth at the site is 116 metres. Drilling is planned to begin in December 2013, with a duration of