Fossil Energy
Nam Cheong 2Q Net Profit Up 83 Pct (Malaysia)
Nam Cheong Limited , one of Malaysia’s largest Offshore Support Vessel builders, reported strong results performance with an 83% surge in net profit to RM41.1 million for the three months ended June 30, 2013 (“2Q 2013”), from RM22.5 million in the corresponding period last year (“2Q 2012”). Robust v
PTTEP Denies Bribery Accusations
With the reference to a news article published in the media related to PTTEP Acquisition of Offshore MD-7 and MD-8 blocks in Myanmar, Thailand’s national energy company PTTEP has issued a statement in which it denies the intransparency and bribery of the MD-7 and MD-8 acquisition. The company “would
Huntington Field Shut Amid FPSO Issues. All Noreco’s Fields Now Closed
Norwegian oil company Noreco has announced that E.ON, the operator on the Huntington field in the UK North Sea, has informed its partners that production at the field will remain shut until issues related to the cargo tank venting system on board the platform at the field has been resolved. Norwegia
Buccaneer Energy: Cosmo Well Results ‘Extremely Positive’
Buccaneer Energy Limited has informed that Sunday, 11 August 2013 (Sydney), a 66’ section of the sand at approximately 4,300’ measured depth (“MD”) was perforated and flow tested in the Cosmo # 1 well, in Cook Inlet, offshore Alaska, in which the Company has a 25% working interest. The well has succ
Coastal Contracts Sells Two Offshore Vessels for $52 Mln
Malaysia’s Coastal Contracts has secured contracts for the sale of one unit Anchor Handling Tug Supply and one unit Subsea Support/Maintenance Vessel for an aggregate value of approximately RM170 million (USD 52 million). Including the new contracts and after adjusting for revenue recognition from v
Timor-Leste Gov’t Slams Oilex for Not Fulfilling PSC Obligations
The Government of Timor-Leste has, in response to the article titled “Oilex Scraps Timor Sea PSC Amid Maritime Border Disputes“, published on Offshore Energy Today in July, released the following statement: “The Government of Timor-Leste has created one of the most fiscally certain environments for
Shell Spuds Fourth Well Offshore French Guiana
Northern Petroleum Plc announces that GM-ES-5, the final well of the current four well drilling programme in the Guyane Maritime Permit (offshore French Guiana) has been spudded by Shell as Operator on 10th August 2013. Northern, through holding 50 per cent of Northpet Investments Limited, owns a ne
Statoil to Drill Exploration Well in PL 104 (Norway)
The Norwegian Petroleum Directorate has granted Statoil ASA a drilling permit for wellbore 30/9-25, cf. Section 8 of the Resource Management Regulations. Wellbore 30/9-25 will be drilled from the Ocean Vanguard drilling rig at position 60°20’06.20’’N and 02°47’47.5’’E following completion of the dri
Hercules Offshore Now Owns 98.8% of Discovery Offshore
Hercules Offshore has issued a notification of result of mandatory takeover bid for cash addressed to all the remaining shareholders in Discovery Offshore S.A. (“Discovery”) a company incorporated as a société anynome under the laws of the Grand Duchy of Luxembourg ISIN of the shares of Discovery Of
Statoil to Drill Norwegian Sea Well with Songa Trym Rig
The Norwegian Petroleum Directorate has granted Statoil ASA a drilling permit for wellbore 6608/10-15 in the Norwegian Sea. Wellbore 6608/10-15 will be drilled from the Songa Trym semi-submersible drilling rig at position 66°05’20.8”N and 08°16’ 42.5”E, following the completion of the drilling of wi
OGX Gets Clearance to Develop Campos Basin Oil Fields
OGX Petróleo e Gás Participações S.A., an oil and gas company owned by Eike Batista, who recently lost his billionaire status, announced today that it has received the Installation License to start the activities related to the development of oil production in BM-C-39 and BM-C-40 blocks, in the Camp
Huisman Clinches 10 Orders for Pipelay Systems
Huisman, the worldwide specialist in lifting, drilling and subsea solutions, has secured new contracts for 10 pipelay systems with various major offshore pipelay contractors. The new contracts include three 550mt Tiltable Lay Systems (TLS) and one 325mt Vertical Lay System (VLS) for Subsea 7, two 65
UKTI: UK Companies Can Benefit from Oil & Gas Projects in Emerging Markets
At Offshore Europe 2013 event in Aberdeen,September 3-6, UK Trade & Investment (UKTI) will demonstrate how UK companies can benefit from major oil and gas projects in emerging markets such as Brazil, Nigeria, Kazakhstan, Mexico, Saudi Arabia and Malaysia through a series of briefing and networking e
Tower Resources Raises £1.04 Through Open Offer
Tower Resources plc , the AIM listed Africa focused oil and gas exploration company, announced on 25 July 2013 the details of the firm £9.0m Placing at 1.125 pence per share and the Open Offer of up to £4.1m at 1.125 pence per share. The Open Offer has now closed in accordance with its terms. [&hell