Fossil Energy
New Boss for Gazprom Dobycha Shelf (Russia)
Anatoly Sorokin was elected as Director General of Gazprom Dobycha Shelf. Sorokin was born in 1960 in the Orenburg Region. In 1983 he graduated from Kuibyshev Polytechnic Institute, majoring in Technology and Comprehensive Mechanization of Oil and Gas Developments. Sorokin is a successor of Alexande
Sevan Marine’s EBITDA Negative
Norway’s Sevan Marine yesterday reported that its operating revenue from continued operations for fourth quarter 2012 amounted to USD 36.8 million. EBITDA was negative with USD 2.5 million, and due to impairment charge of USD 51 million, operating loss was USD 53.6. Net profit from continued operati
Kuwaits’ KPC Orders Workboats from Grandweld
Grandweld Shipyards, a Dubai-based shipbuilder, has announced the signing of a contract with Kuwait Oil Company to design and build a series of four Crane / Workboat class vessels. The contract is valued at a total of USD 50m over the duration of the build. Grandweld’s Crane/Work boats are designed
Dana Starts Drilling in Moray Firth (UK)
Aberdeen-based Dana Petroleum has commenced drilling operations in the Moray Firth area of the North Sea close to the Captain field. Dana is drilling an operated well targeting the Magnolia prospect in block 13/23a, which comprises early Cretaceous sandstones. Dana’s UK Managing Director Paul Griffi
Michael Cohen (IEA): Offshore Oil Production Continues to Be Essential for Global Production
“Despite the rapid pace of growth in onshore oil production in North America, offshore oil production will account for 30% of the growth in global oil production capacity of 9.3 mb/d between 2011 and 2017”, said Michael Cohen (Senior Oil Market Analyst at the International Energy Agency) during his
WSM Opens Ship Management Office in Bergen, Norway
Wilhelmsen Ship Management (WSM) opens a new ship management office in Bergen, on Norway’s West Coast. The office will offer technical ship management and manning services to the offshore sector and ship owners based in the region. “The largest growth in Norwegian shipping takes place in the offshor
Perisai Orders Jack-Up Rig from Sembcorp (Indonesia)
Sembcorp Marine’s subsidiary PPL Shipyard has secured a repeat order to build a second Pacific Class 400 jack-up rig worth US$208 million from Perisai (L) Inc, a wholly-owned subsidiary of Perisai Petroleum Teknologi Bhd. Scheduled for delivery in the second quarter of 2015, the second jack-up rig w
Bumi Armada Orders 4 MPSVs from Nam Cheong (Malaysia)
Nam Cheong Limited, Malaysia’s largest Offshore Support Vessel (“OSV”) builder, today reported that it has entered into US$130 million worth of contracts with Armada Offshore MPSV Limited, a subsidiary of Bumi Armada for the sale of four Multi-Purpose Platform Support Vessels (“MPSVs”). Bumi Armada,
EMGS Sells 3D EM Data for $10 Mln
Norway’s Electromagnetic Geoservices ASA (EMGS) has secured multi-client late sales worth approximately USD 10 million. These sales stem from a combination of the company’s 3D EM data library in Brazil, the Norwegian Sea and the Barents Sea. The revenues will be recognized in the first quarter of 20
Repsol’s Net Income Drops 6.1%. Upstream Unit Improves
Spanish oil company Repsol posted net income of 2.060 billion euros for 2012, a 6.1% decline from the year earlier. At current cost of supply (excluding the change in value of the oil inventories that the company stocks as part of Spain’s strategic reserve) Repsol’s net income was 2.048 billion euro
PGS Wraps Ups Seismic Sweep Offshore Lebanon
PGS has completed its 6th MC3D survey offshore Lebanon, in preparation for the upcoming license round. On February 19, PGS completed its 6th MC3D survey offshore Lebanon, The 2,200 sq km PGS MC3D LEB2013 survey will be available for the upcoming license round. The survey, acquired in cooperation wit
Shell Decides to Pause Arctic Drilling in 2013
Royal Dutch Shell plc announced it will pause its exploration drilling for 2013 in Alaska’s Beaufort and Chukchi Seas to prepare equipment and plans for a resumption of activity at a later stage. “We’ve made progress in Alaska, but this is a long-term programme that we are pursuing in a safe and mea
Lundin Drills Duster at Ogna Prospect (Norway)
Lundin Petroleum AB announces the completion of the exploration well 8/5-1 on the Ogna prospect located in Block 8/5, (PL453S), in the southern part of the North Sea sector of the Norwegian Continental Shelf. The well was drilled with the Mærsk Guardian jack-up rig. The exploration well 8/5-1 was ta
Pacific Drilling Reports 4Q 2012 Income of $16.5 Mln
Offshore drilling contractor Pacific Drilling S.A., today announced revenue of $191.9 million and net income of $16.5 million or $0.08 per diluted share for the three months ended December 31, 2012. This compares to revenue of $172.0 million and a net loss of $2.0 million or $0.01 per diluted share