Fossil Energy
Top News of The Week August 26 – 30, 2013
Super Pumas Fly Again. Black Box Found. Workforce Confidence Shattered According to Unite, a UK-based trade union, confidence among the workforce in the Super Puma types – which make up 50 per cent of the UK offshore industry’s 75 serving helicopters – has been shattered by the fifth ditching in fou
Murphy Oil Spins Off Downstrem Unit. Puts Focus on Upstream
Murphy Oil Corporation announced Friday that it has completed the spin-off of its U.S. retail marketing business into an independent public company called Murphy USA Inc. . The spin-off was achieved through the distribution to Murphy Oil’s shareholders of one share of Murphy USA common stock for eve
Kleven Cancels Offshore Crane Order with TTS
Norwegian Kleven has excercised the right to cancel a contract for delivery of a subsea crane with TTS Group. The contract, announced in May should have brought approximately NOK 70 million to TTS Offshore Handling Equipment AS. The deal was for delivery of a 250 ton active heave compensated subsea
GC Rieber Shipping Down on Reef Subsea Loss
Norway’s GC Rieber Shipping has reported that its net loss for the second quarter 2013 was NOK 5.7 million, compared to a profit of NOK 57.0 million in the same period last year. This is primarily due to a loss of NOK 38.7 million from the associated company Reef Subsea, which experienced low capaci
$40 Mln for Niko from Hess and OMV Deals
Niko Resources has executed two sets of agreements which, subject to the required government approvals, will provide proceeds of nearly $40 million. Farm-out of Grand Prix PSC in Madagascar Niko has signed a definitive farm-out agreement under which OMV, an integrated international oil and gas compa
Minor Gas Shows at Kidukidu Well in Gulf of Papua
Oil Search reports that as at 06:00 hours Papua New Guinea time on Thursday, August 29, the Kidukidu 1 well was at a total depth of 2,697 metres and preparations were underway to pull out of the hole and run wireline logs. During the week, 9-s/s” casing was set and 477 metres of 8-1/2″ hole was dril
Super Pumas Fly Again. Black Box Found. Workforce Confidence Shattered
Step Change in Safety’s Helicopter Safety Steering Group (HSSG), held a meeting yesterday in Aberdeen to review its decision to recommend the temporary suspension of AS332 L/L1, AS332 L2 and EC225 commercial passenger flights to and from offshore oil and gas installations within the UK following the
Apache, Sinpec to Pursue Joint Upstream Oil & Gas Project
Apache Corporation and Sinopec International Petroleum Exploration and Production Corporation today announced they have launched a global strategic partnership to pursue joint upstream oil and gas projects. As the first step in this partnership, Apache will receive $3.1 billion in cash, subject to c
Bam Clough: IB-914 Jack-Up Ready for Wheatstone Job
BAM Clough has taken delivery of the new built jack-up “IB-914” and transport barge “IB-924” from COSCO Shipyard in China, earlier this month. Both units, designed by Gusto MSC, departed China in mid August on their maiden voyage. This is the third Gusto MSC SEA-1250 jack-up built and it is the firs
Harkand Completes Veolia Transaction
Harkand, the international subsea inspection, repair, maintenance and light construction group, has confirmed the acquisition of the main assets and business of Veolia Marine Services (“VMS”). The transaction is in line with the announcement of 21 May 2013. The acquisition adds 150 onshore and offsh
Reef Subsea Reorganizes Its Business
Reef Subsea has taken the step to restructure its business into two divisions – one being a new division focused on integrated subsea projects and the second a restructure of the Dredging & Excavation division. In the restructure, Reef Subsea Power & Umbilical and Reef Subsea Norway has merged to fo
Subsea 7 Exercises Option for ‘Normand Subsea’
Subsea 7 has declared its option to extend the contract for the light construction vessel “Normand Subsea” for one year, starting March 2014. This is the first of a total of four yearly options. Normand Subsea is an offshore vessel built to perform Inspection, Maintenance and Repair (IMR) works. The
Shell Acquires Western Gulf of Mexico Block (USA)
Shell has announced it was a successful bidder for one block in the Western Gulf of Mexico Lease Sale 233, held by The U.S. Department of the Interior’s Bureau of Ocean Energy Management on Wednesday. “Shell bid on one block and was the apparent high bidder on Alaminos Canyon Block 772 with a bid of
Lamprell Receives Jack-Up Rig Order
Lamprell, a UAE-based offshore rig builder, today announced it has received an order to build a jack-up rig. The rig builder did not disclose the name of the client but said it was an international drilling contractor. The rig, of the LeTurneauSuper 116E (Enhanced) Class design ,will be constructed