News
Poland: PGNiG Q3 Net Dives
In Q1-Q3 2012, the PGNiG Group earned net profit of PLN 48m, compared with PLN 1.32bn in the corresponding period of the previous year. In Q3 2012, the Group’s net profit dropped 80%, to PLN 65m, from PLN 319m a year ago. The Group’s operating result for Q1-Q3 2012 was most significantly affected by
UK: Q1000 ROV Completes Subsea Trials
Reef Subsea announced that its subsidiary company, Reef Subsea Power and Umbilical Ltd., with offices in Stockton-on-Tees and Aberdeen, has successfully completed a series of offshore trials on its recently launched Q1000 subsea trenching ROV. The capabilities of both the trencher and its Launch & R
Floatel Superior to Be Repaired in 1-2 Weeks, Owner Says
Floatel Superior accommodation rig, which was on November 7 evacuated after it had tilted 4 degrees due to a hole in the ballast tank, arrived at Kristiansund on Friday, November 9. The owner of the unit, Floatel International, informed that a first inspection of the damage was carried out confirmin
UK: Cathelco to Supply Corrosion Protection for Two Transformer Platforms
Cathelco have won contracts to supply impressed current corrosion protection (ICCP) systems for two transformer platforms, HelWin Alpha and SylWin Alpha, which are being built for Siemens Energy in Germany for offshore wind farm applications. When completed the HelWin Alpha will be positioned near H
UK: Cathelco to Supply Corrosion Protection for Two Transformer Platforms
Cathelco have won contracts to supply impressed current corrosion protection (ICCP) systems for two transformer platforms, HelWin Alpha and SylWin Alpha, which are being built for Siemens Energy in Germany for offshore wind farm applications. When completed the HelWin Alpha will be positioned near H
UK: Kentz Expects 2012 Earnings to Meet Expectations
Kentz Corporation Limited, the holding company of the Kentz engineering and construction group, released the following interim management statement for the period 1 July to 11 November 2012. Overview Growth underpinned through new project awards together with natural growth on existing contracts Bac
UK: Hoegh LNG Completes Sale of Port Meridian Project
Höegh LNG said it has entered into an agreement to sell its wholly owned subsidiary Port Meridian Energy Limited for a consideration of USD 20 million to Meridian Holdings, an entity advised by West Face Capital Inc. and owned by a fund managed by West Face. Port Meridian Energy Limited has develope
Poland’s Lotos Starts Drilling at Skagen Prospect, Offshore Norway
The Polish energy company LOTOS Exploration & Production Norge has started the drilling of its first operated exploration well on the Norwegian Continental Shelf. Exploration drilling on the Skagen oil prospect in production licence 498 in the North Sea began on 9 November. Located about 32 kilometr
Novatek Approves Nortgas Acquisition, Russia
NOVATEK held a Board of Directors meeting which unanimously approved the acquisition of a 49% equity stake in ZAO “Nortgas”. All of the necessary corporate approvals have been received to effectively close the deal, as well as receiving the tentative agreement from the Federal Antimonopoly Service o
Russia: Novatek Posts Strong Q3 Earnings
Novatek of Russia today released its results for the third quarter and nine months ending 30 September. In the third quarter and nine months 2012, total revenues increased by 31.7% and 21.3%, respectively, as compared to corresponding periods of 2011. The growth was due to an increase in hydrocarbon
Croatia: Split to Develop Port with EBRD Loan
European Bank for Reconstruction and Development (EBRD) provides a $24 million loan to finance Split Port development, according to Bloomberg. The Port of Split is a port in the central Dalmatian city of Split, Croatia. As of 2011, the port ranks as the largest passenger port in Croatia and the thir
Germany: New Portfolio for Energy Husum 2013
New Energy Husum 2013 is staging a special exhibition on ecological building to focus on the subject of passive houses. The Husum exhibition from 21 to 24 March 2013 will for the first time also be providing a platform for biofuel producers, and businesses involved in geothermal energy and hydroelec
NIFHA Seeks Contractors for Bathymetric Surveys (UK)
Northern Ireland Fishery Harbour Authority (NIFHA) is seeking experienced surveyors for the provision of ad hoc bathymetric surveys of the NIFHA Ports of Ardglass, Kilkeel and Portavogie. Surveys are undertaken as a needed basis to inform dredging works and navigational advice. The NIFHA wishes to a
Enagas May Become Major Investor in Ukraine LNG Terminal
Enagas of Spain may become the main investor in the construction of the first LNG import terminal in Ukraine, Interfax reported, citing project curator Vitaliy Demyaniuk. “At the first phase Enagas could take part in the project as a major partner of the state,” he said. He also said that in the fut