News
Lloyd’s Register awards AIP for Babcock’s LNG reliquefaction technology
Babcock’s LGE Process has been granted the Approval in Principle from Lloyd’s Register for its LNG MR reliquefaction system named ecoSMRT.
Wood Group expects higher cost savings in Amec Foster Wheeler buy
Oil services company Wood Group expects for its cost savings stemming from a deal to acquire its compatriot rival Amec Foster Wheeler to be 36 percent higher than previously estimated. UK’s Wood Group made the offer to buy Amec Foster Wheeler for approximately £2.225 billion ($2.768 billion at curre
EMGS Records Increase in Vessel Activity
Electromagnetic Geoservices ASA (EMGS) has recorded an increase in the vessel activity in the first quarter of 2017, compared to the corresponding period in 2016. Vessel utilization for the first quarter 2017 was 92% compared with 55% for the first quarter in 2016. In the first quarter of 2017, EMGS
Qatar Petroleum and ExxonMobil ink Cyprus exploration deal
State-owned Qatar Petroleum and the U.S.-based energy giant ExxonMobil will start drilling for oil and gas offshore Cyprus next year under a new exploration and production sharing contract signed on Wednesday. The signing of the deal for offshore Block 10 in south-west of Cyprus, followed the succes
IGU: global LNG trade hits new peak, set for further growth
Global liquefied natural gas (LNG) trade in 2016 reached a record 258 million tonnes – an increase of 5% from the year before, and the largest ever year for LNG trade, according to the International Gas Union. This increase is particularly noticeable when compared with the average 0.5% growth rate o
Gazprom awards Amur GPP job to China’s CPECC
Russian giant Gazprom has awarded an engineering, procurement and construction (EPC) contract to China Petroleum Engineering & Construction Corporation for the Amur gas processing plant.
Premier Oil hires Craig for North Sea support
Craig International has signed a five-year procurement contract for all Premier Oil’s maintenance and repair operations in the UK North Sea. The contract could be with worth up to £5 million. Jill MacDonald, joint managing director of Craig International, said: “We’ve built a strong relationship wit
First Batch of Foundation Piles In at Beatrice OWF
Seaway Heavy Lifting (SHL) installed the first cluster of foundation piles at the Beatrice offshore wind farm site on 2 April, according to the Beatrice Offshore Wind Limited’s (BOWL) social media pages.
Explosion Hits Vessel at Bulgarian Shipyard
An explosion has occurred on board a vessel at Terem Shiprepair Yard in Varna, Bulgaria, according to a statement issued by Varna Municipality. The incident was reported on April 3, while the ship arrived at the shiprepair yard a day earlier. There were no injuries reported, Varna Municipality’s pre
Croatian, Cypriot shippers form LNG joint venture
Uljanik Plovidba, Croatian shipping company has set up Uljanik Plovidba LNG, a joint venture with the Cypriot ETCA Caspian Limited.
Containerships granted support funds for LNG projects
Finnish shipping company Containerships has secured funding for its liquefied natural gas (LNG) project by the European Union and the Nordic Environment Finance Corporation (NEFCO).
Vole au Vent Preparing for Finnish Tahkoluoto Offshore Wind Farm
Jan De Nul’s heavy-lift jack up vessel Vole au vent will now be mobilised for work on the Tahkoluoto offshore wind farm in Finland, after completing turbine installation at the Nobelwind wind farm off the coast of Belgium.
Trafigura proposes standard LNG sale and purchase contract
Trafigura Group, one of the world’s largest commodity trading companies, called for the adoption of a standard master sale and purchase agreement (MSPA) for the LNG industry.
Parkmead nearly doubles its stake in West of Shetland license
Oil and gas company Parkmead has nearly doubled its stake in the Sanda North and Sanda South structures in the West of Shetland area of the UK North Sea. These two Palaeocene prospects are both located within Block 205/13. With this move, Parkmead has increased its equity in the licence from 56% to