Fossil Energy
Maersk Oil Profit Hit by Lower Prices and Output
Denmark’s Maersk Oil today reported net profit of $249 million, a drop from the $468 million achieved in the same period last year. The result was negatively influenced by lower average oil price of USD 102 per barrel compared to last year’s USD 108 per barrel and lower entitlement production of 226
Searcher Seismic Selling Fugro’s Seismic Data
Searcher Seismic Pty Ltd announces a commercial agreement to market and license specific datasets in the Asia Pacific region from Fugro’s 2D and 3D multi-client library. The agreement relates to data previously created via Searcher and Fugro joint ventures. The agreement covers more than 100,000 km
AGR Inks Frame Agreement with NPD
Global oil and gas service provider AGR has won a major contract to deliver a two-year frame agreement for the Norwegian Petroleum Directorate (NPD). Under the agreement, AGR’s Norway-based Reservoir Management Team will deliver services within geology and reservoir engineering, including reservoir
Kvaerner Reports Rise in Net Income. Targets Johan Sverdrup
Kvaerner, a Norway-based engineering and construction services company, reported 2Q 2013 net income of NOK 75 million ($12.7 mln), compared to NOK 42 million ($7 mln) in 2Q 2013. “The activity has been very high this quarter and both jackets for the Clair Ridge project were delivered. We focus on pr
Maritime Developments Opens Larger Base in Aberdeen
Maritime Developments (MDL), a leading provider of back-deck equipment for the subsea sector of oil and gas industry, has tripled the size of its Aberdeen office. The company has moved from Spademill Lane in the west end to 1,500sq ft premises on Dee Street in the city centre. The new four-floor off
ABB Provides Whole Package for Logitel Accommodation Vessel
ABB, the leading power and automation technology group, has won an order to provide integrated solutions that include the electrical propulsion system, Azipod® CZ and automation system onboard two offshore accommodation vessels. The 1+1 accommodation vessels will be built by COSCO (Nantong) Shipyard
Ophir’s 1H Loss Reduced to $19.4 Million
Ophir Energy today announced that for the period ended 30 June 2013 the Group recorded a loss of US$19.4 million compared to US$24.4 million loss recorded in the same period last year. No dividends were paid or declared by the Group during the period. The loss is a direct result of exploration expen
Deep Sea Supply Plans Significant PSV Fleet Expansion
Deep Sea Supply, a Cyprus-headquartered owner of offshore support vessels, is looking to significantly expand its fleet to meet growing demand. In its quarterly results release, the shipowner revealed it is in talks with PSV Holding Inc, a company affiliated with Hemen Holding, to acquire up to ten
Dockwise Acquisition Boosts Boskalis’ Profit
Royal Boskalis Westminster N.V. (Boskalis) realized a net profit of EUR 123 million in the first half of 2013 (H1 2012: EUR 102 million). Dockwise contributed EUR 15 million to this result. Revenue rose by 12% in the first half to EUR 1.6 billion (H1 2012: EUR 1.4 billion). Organic revenue growth wa
Senergy Wins Statoil Survey Contract
Fast-growing global energy services company Senergy has marked a business first after being awarded a framework agreement to provide geotechnical representatives on behalf of a client and its site investigation work. The agreement, which has been secured through Senergy’s survey and geo-engineering
69 Sulzer Pumps for Ichthys FPSO
Sulzer Pumps will supply 69 pumps to Daewoo Shipbuilding and Marine Engineering for installation on a new Floating Production Storage and Offloading (FPSO) vessel for the INPEX-operated Ichthys LNG Project in the Browse Basin offshore Western Australia, scheduled for delivery in several phases betwe
Bardex to Supply Mooring System for Ichthys Platform
Bardex has received a Purchase Order from Samsung Heavy Industries of Korea for a mooring system for the Ichthys semi-submersible central processing facilities production platform. The order comprises four moveable Bardex Linear Chain Jacks and twenty eight Bardex proprietary BarLatch™ Fairlead Stop
OGX Reports Net Loss of $2 Billion
A troubled Brazilian oil and gas company OGX, owned by once a billionaire Eike Batista, has reported a massive quarterly net loss of R$4.7 billion (around USD 2 billion). The results were impacted by expenses of R$3.6 billion (around USD 1.54 billion) related to the impairment of the investments car
NADL, Seadrill to Boost Harsh Environment Business through Strategic Partnership
North Atlantic Drilling Ltd. and Seadrill Limited announced in their first quarter 2013 reports that the companies were actively engaged in discussions with potential strategic partners in order to strengthen NADL’s position in harsh environment areas. The basis for the establishment of NADL in 2011