BMT Group Ltd, the leading international maritime design, engineering and risk management consultancy, has been recognised for its outstanding achievements in generating sustainable growth and jobs by Europe’s 500, a non-profit organisation which promotes entrepreneurship. Former German Chancellor,
UPC will deliver a complete power and control package for four platform supply vessels. Two ships (P801) are under construction at ETP yard in Brazil, while two (PX121) are to be built at Ulstein Verft. Managing director, Gunnar H. Hide, and product manager power, Egil Rødskar, says that UPC has ove
Under slightly changed circumstances, a well control incident on the Statoil-operated Gullfaks C platform in the North Sea could have developed into a major accident. Problems had arisen with the same producer in December 2009 and March 2010 before the most serious incident occurred in the afternoon
Nord Stream has won the award for European mid-stream gas project of the year at this year’s Project Finance Awards ceremony. The awards recognise innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery in financing. Nord Stream was sing
Maersk Oil will keep its offshore Gryphon oil and gas installation shut for a considerable time after sustaining damage in a storm last week. The Gryphon Floating Production Storage and Offloading (FPSO) vessel is stable, all wells have been closed in and no oil spill has been seen. Work is continui
EMGS, the Norwegian based marine EM market leader, announces fourth quarter results 2010: Highlights in the fourth quarter 2010: •Total revenues at USD 27.2 million for the quarter •Negative EBITDA of USD 2.4 million •Shetland survey awarded by Total E&P UK and DONG Energy •Steady stream of contract
Following the success of the shallow-water real-time imaging sonar, Gemini 720i, Tritech has launched a deep-rated version of the popular sonar, Gemini 720id. Available now in 300m and 4000m versions, Gemini is a forward-looking sonar which utilises an array of transducers to provide a 120º field of
Bergen Group announced a strong boost in the group’s order book during Q4 2010. At the same time, the profit margin is considerably improved compared with the previous quarter. “The general outlook for the group’s market areas are considered positive in both short and long term”, says CEO Pål Engebr
Anadarko Petroleum Corporation today announced a discovery at the Teak-1 exploration well in the West Cape Three Points Block offshore Ghana, where Anadarko owns a 30.875-percent working interest. The Teak-1 well encountered a total of approximately 240 net feet of oil, condensate and natural gas pa
Fairstar Heavy Transport NV (FAIR) announced today an EBITDA loss of USD 2.7 million for the Fourth Quarter of 2010. Fleet utilization of FJORD and FJELL for the quarter was 32%, the lowest level ever experienced by Fairstar since the FJORD and FJELL went into service in 2008 and 2009 respectively.
The Transportation Safety Board (TSB) has completed its thorough investigation into the cause and contributing factors behind the crash of Cougar Flight 491. The TSB report provides very valuable insight into the reasons for the accident and the factors that played a role in the tragedy. Arising fro
Wärtsilä’s Board of Directors has appointed Mr Björn Rosengren M.Sc. (Tech.), born 1959, as the new President and CEO of Wärtsilä Corporation. He will assume the position on 1 September 2011, succeeding Mr Ole Johansson, who will retire. Currently Mr Rosengren works as Senior Executive Vice Presiden
Beach advises it intends to make a non-cash accounting adjustment to the carrying value of its Basker-Manta-Gummy project (BMG). A nominal value for BMG will be retained while options are evaluated for a potential Phase 2 gas and liquids development project. As part of its bi-annual impairment revie
-OGX Petróleo e Gás Participações S.A. (“OGX”) , the Brazilian oil and gas company responsible for the largest private sector exploratory campaign in Brazil, announced today the accomplishment of an important step necessary for initial production. The Company concluded the drilling of the horizontal
