Subsea
Aker Solutions to Split Into Two Companies
The board of directors of Aker Solutions ASA (“Aker Solutions”) has in accordance with the strategy disclosed April 30 resolved to propose to the company’s shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker O
Tenders Invited for Diving Services for Øresund Bridge
Øresundsbro Consortium, a Copenhagen based company, has issued a tender invitation for the provision of diving services. The framework agreement will cover the Company’s owned and operated Øresund Bridge. The project is expected to last for two years with the completion planned for August 27, 2016.
BG Group Completes Sale of Interest in CATS Pipeline to Antin IP
BG Group announced it had completed the sale of its 62.78% equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners. Total proceeds from the transaction, announced on 17 June 2014, are up to £562 mi
SSE Gets Go Ahead for Scottish Subsea Link
SHE Transmission, the electricity transmission subsidiary of SSE plc, has welcomed Ofgem’s decision to approve the need for the new transmission link between Caithness and Moray. The new link, which will feature over 100 miles of under ground and subsea cable, is needed to transmit a large volume of
Dragon Oil Provides Q2 Ops and Production Update
Dragon Oil plc, an international oil and gas exploration, development and production company, has published a quarterly update on the drilling activity in the Cheleken Contract Area, Turkmenistan, and its exploration assets in the second quarter of 2014 and production numbers for 1H 2014. Turkmenist
Chevron Expects Higher Earnings for Second Quarter 2014
Chevron Corporation reported in its interim update that earnings for the second quarter 2014 are expected to be higher than first quarter 2014 as a result of gains on asset sales and an absence of impairments in the prior quarter. Foreign exchange losses in the second quarter are expected to be high
EMAS Drives Ezra’s Record Revenues
Ezra Holdings Limited, a contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, achieved a record revenue of US$1 billion for the nine months ended 31 May 2014, a 24% increase from US$842.9 million in the previous corresponding period. Revenue for the three month
USA: ‘Inez Eymard’ Research Vessel to Collect Data for Offshore Wind Turbines
A 110-foot long lift vessel will periodically be located off the shore of Camp Pendleton during July to obtain core samples needed for Dominion Virginia Power to move ahead with its proposal to build wind turbines 27 miles off the coast. The U.S.-flagged Inez Eymard literally lifts itself out of the
Polarcus Naila Charter Hire Goes Up
Polarcus Limited has entered into an addendum to the sale and lease-back financing arrangements dated 30 June 2008 for 12 streamer 3D/4D seismic vessel Polarcus Naila. The parties to the arrangement have agreed to increase the charter hire under the terms of the bareboat charter by USD 8,600 per day
HHI Bags $1.94 Bln Nasr Field Development Work in UAE
Hyundai Heavy Industries Co., Ltd. (HHI), the world’s biggest shipbuilder and a leading offshore facilities contractor, announced that it received a Letter of Award (LOA) for a USD 1.94 billion order for the second package of the Nasr Full Field Development Project to build the fixed platforms and t
Norway: VNG Hits Bue Oil
Rocksource ASA has discovered oil in the Bue exploration well. This marks the third successful well on the PL 586 licence following the Pil discovery and appraisal wells earlier this year. Rocksource currently estimates that Pil and Bue combined have reserves of 95-175 mmboe. The unrisked prospectiv
Production Starts from Dua Oil Project (Vietnam)
Santos announced that oil production has commenced from the Dua oil project, offshore Vietnam. Sanctioned in August 2012, Dua is a three-well subsea tie-back to the existing Chim Sáo facilities located in Block 12W in the Nam Con Son Basin. The gross production rate from the Dua wells is estimated t
African Petroleum to De-Risk Sierra Leone with 3D Survey
African Petroleum Corporation announced that its wholly owned subsidiary African Petroleum Sierra Leone Limited has signed a contract to acquire more than 1,000 sq km of 3D seismic data on Block SL-4A-10, offshore Sierra Leone in addition to the existing 3D coverage. The seismic acquisition over Blo
VIDEO: Vroon’s New Subsea Support Vessels VOS Sugar and VOS Star
Vroon Offshore Services B.V. has released a video animation of newbuild subsea-support vessels VOS Sugar and VOS Star. VOS Sugar and VOS Star are being built at Fujian Southeast Shipyard, China and are due for delivery in 2015. Both vessels, are a modern SSVs with retractable thruster and super‑sile