News
Farstad stops paying creditors as Siem term sheet lapses
Norwegian offshore vessel owner Farstad Shipping is yet to complete its restructuring. As part of the restructuring efforts the company in November signed a binding term sheet under which Siem Oil Service Invest Limited would provide the company with NOK 1 billion in new equity. However, the struggl
Faroe Petroleum gets bank funding for Norwegian activities
Faroe Petroleum, an oil and gas company focusing principally on Norway and the UK, has signed two banking facilities, which will provide finance for the company’s growth plans and costs for the Norwegian activities. According to Faroe’s statement on Tuesday, the two facilities are $250 million Reser
Total grabs stake in Tellurian
Total of France on Tuesday said it has acquired a 23 percent stake in Tellurian Investments for a US$207 million, gaining access to the proposed Driftwood LNG project.
Probe reveals flaws on flotel Safe Zephyrus
Norway’s safety watchdog, the Petroleum Safety Authority (PSA), has identified four non-conformities during a risk assessment audit on Prosafe’s flotel Safe Zephyrus. The PSA said on Tuesday that the non-conformities relate to mapping and risk assessment, prioritization, implementation and verificat
OGA’s well construction hackathon generates 60 ideas
A recent hackathon organized in the UK has attracted more than 100 professionals from across sectors to see how new and ‘new to wells’ technologies can transform the way wells are constructed and drilled on the UK Continental Shelf. The hackathon saw the Oil and Gas Authority, Technology Leadership
S-2000 Hydrohammer Hammers Formosa 1 Monopiles Into Seabed
IHC IQIP today informed its S-2000 Hydrohammer was used to install two monopiles for the first two Formosa 1 offshore wind turbines in Taiwan. The company delivered the S-2000 Hydroammer with a 5.5m pile sleeve to Jiangsu Longyuan Zhenhua Marine Engineering Co. Ltd, which carried out the installatio
Search for missing oil workers in Caspian Sea ongoing
Search operations for nine oil workers who went missing in the Caspian Sea after an accident on Socar-operated oil facilities offshore Azerbaijan are still in progress. Ten offshore oil workers went missing last Thursday after strong winds had caused the collapse of the oil gathering station No 3 of
VIDEO: First World Dream Mega Block Floats Out
The video below shows the float-out of the first mega block of World Dream, the new cruise ship being built for Asian cruise line Dream Cruises at Meyer Werft shipyard in Papenburg, Germany. The 151,300 gross ton newbuilding is scheduled for delivery in fall 2017, according to Meyer Werft. With a le
Forland, EMAS-AMC reach deal for Lewek Inspector vessel
Offshore vessel owner Forland Shipping has reached a deal with EMAS AMC over its Lewek Inspector vessel. To remind, EMAS AMC has defaulted on the charter hire payment for Forland’s Lewek Inspector vessel for October 2016, and has said it would be “unable to settle the outstanding charter hire for th
Galp gives green light for Coral FLNG investment plan
Galp Energia is the latest in line to approve the investment plan for the Coral South FLNG project in Mozambique, following Eni and ENH.
San Leon approached for possible takeover
Oil and gas company San Leon Energy has been approached by an unnamed firm for a possible takeover offer, the second one in less than two years. The company, with oil and gas assets across Europe and Africa including offshore assets in Albania, Ireland, and Morocco, confirmed on Monday it has receiv
VIDEO: Gentle Giants of the Irish Sea
At 20:25 (GMT) on 14 December, the final blade of the 32nd V164-8.0 MW turbine at Burbo Bank Extension was lifted into place. The 258MW wind farm off the coast of Liverpool, UK represents the first offshore project to utilise what is currently the world’s most powerful wind turbine. A2SEA’s vessel S
Andrew Garrad to Retire from DNV GL
Andrew Garrad, the co-founder of Garrad Hassan, the company that merged with GL in 2009 and then as GL Garrad Hassan merged with DNV in 2014, has announced he will retire from DNV GL on 23 December 2016. Garrad co-founded Garrad Hassan in 1984 and became President of GL Garrad Hassan after Germanisc
Safety body finds room for improvement on ConocoPhillips’ Ekofisk
Norwegian safety body, the Petroleum Safety Authority (PSA), has found two improvement points during an audit of ConocoPhillips’ risk assessments for waves hitting decks on Ekofisk B, offshore Norway. The agency said on Monday that the detected improvement points were related to deficient analyses a