Fossil Energy
Songa Offshore Reports 4Q Net Loss of $218.9 million
Songa Offshore SE, a Cyprus-headquartered offshore drilling contractor, reports operating revenue for the fourth quarter 2012 of USD 134.6 million and an EBITDA of USD 41.8 million. Net loss for the quarter is USD 218.9 million, including the recognition of an impairment loss of USD 213.3 million. “
Nordic Energy to Buy Offshore Exploration Licence in Denmark
Nordic Energy Plc, the ISDX Growth Market Investment Vehicle focused on low cost entry opportunities in the Danish, Norwegian and Dutch offshore oil and gas exploration and production sectors, has signed a Letter of Intent (“LOI”) to acquire a large exploration licence in the Danish North Sea (“the
Oil & Gas UK: Companies Plan to Splash £100 Bln on UKCS Investments
Following the introduction of tax changes designed to encourage growth in the UK oil and gas sector, the industry has responded with the highest investment for more than thirty years. As a result, according to Oil & Gas UK, which today (25 February) published its 2013 Activity Survey, thousands of j
Leighton’s Gorgon Contract Value Increases by $975 Mln (Australia)
The value of Leighton Contractors’ contract to deliver the civils and underground works package for Chevron-operated Gorgon Project has increased by $975 million to an estimated value of $1.789 billion. The new estimated value reflects an increased and amended scope of works to provide better flexib
Eni, Rosneft Enter Trading and Logistics Deal
Rosneft and Eni agreed to strengthen their cooperation by signing a strategic agreement to develop trading and logistics opportunities. The agreement was signed in Rome by Igor Sechin, Rosneft President and Chairman of the Management Board, and Marco Alverà, CEO of Eni Trading & Shipping (ETS), on S
Statoil Awards Oseberg Delta Subsea Installation Job to Subsea 7
Subsea 7 S.A. today announced the award of a pipelay and subsea installation contract valued at approximately US$160 million from Statoil at the Oseberg Delta 2 field, located approximately 130 kilometres west of Bergen in the North Sea. The contract includes the design, fabrication and installation
Top News of the Week Feb 18 – 23, 2013
Top News of the Week Feb 18 – 23, 2013
Norwegian Billionaire Increases Stake in SD Standard Drilling Plc
Nordic Construction Barges I AS, a company controlled by a Norwegian billionaire Øystein Stray Spetalen, has on 22 February purchased 209 128 shares in SD Standard Drilling Plc at NOK 8.70,- per share. After the transaction, Spetalen, the owner of Ferncliff investment group, and associated companies
Maersk Oil Hires Rowan California Jack-Up (Qatar)
Rowan Drilling has secured a new contract for its jack-up rig Rowan California in the Middle East. The drilling contractor revealed in its fleet status update for February that the rig will be hired by Maersk Oil. The Denmark-based oil company will use the rig for drilling operations offshore Qatar.
New Company for Construction of FPSO Topside Modules Formed in Philippines
Keppel Corporation Ltd’s subsidiary, KS Investments Pte Ltd (“KSI”) and its associated company, Dyna-Mac Holdings Ltd have entered into a shareholders’ agreement and have jointly incorporated a company in the Philippines known as Dyna-Mac Keppel Philippines, Inc. (“DMKP”). The shareholding interests
MOG Moves Closer to Ombrina Mare Development (Italy)
Mediterranean Oil & Gas Plc noted that the official website of the Italian Ministry of Environment indicates that the EIA Commission, charged by the Ministry to rule on the Ombrina Mare oil and gas field development EIA, has ruled positively in favour of MOG’s submission. This represents a significa
GL’s Mike Hoyle Receives IADC Exemplary Service Award
The International Association of Drilling Contractors (IADC) has recognised Mike Hoyle, one of GL Noble Denton’s leading technical authorities for offshore oil and gas structures, for his contribution to new ISO Standards for the site-specific assessment of mobile offshore units. The IDAC Committee
Lundin to Use Maersk Guardian in PL 495 (Norway)
Lundin Norway AS (Lundin) has received consent to carry out exploration drilling with the Mærsk Guardian jack-up rig in the North Sea. The consent relates to drilling and production testing of well 7/4-3 in production licence 495, where Lundin is the operator and Spring Energy is a licensee. Well 7/
Oil & Gas UK Praises EU Directive on Offshore Safety
Following the European Commission’s announcement of agreement on an EU Directive on offshore safety, Robert Paterson, Oil & Gas UK’s health, safety and employment director issued a response. He stated: “Oil & Gas UK has worked tirelessly to highlight the very real damage that an EU Regulation could