BP approaches energy companies over potential $1bn North Sea sell-off

BP has sounded out a series of UK-focused energy companies about a potential sell-off of North Sea assets.
The embattled oil and gas group is understood to have gone to utilities and oil companies to gauge their interest in the collection of assets worth in the region of $1bn.
[Read more]
Source: The Telegragh

Posted on 12/06/2010 / 0 comments / Read More

Wood Group - CCC JV Granted US$800 Mln Contract By PDO

British energy services firm John Wood Group Plc said Petroleum Development Oman, or PDO, has awarded a seven-year engineering and maintenance services contract to Wood Group - CCC.
[Read more]
Source: RTT News

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OVL to sign Satpayev oil field contract by February

In another step towards addressing the energy security concerns, Kazakhstan on Monday agreed to give India 25 per cent stake in its Satpayev oil field, agreement for which will be signed in February.
Giving this information here after a meeting between Kazakhstan Oil and Gas Minister Sauat Mynbayev and Petroleum and Natural Gas Minister Murli Deora, Petroleum Secretary S. Sundareshan said a formal agreement would be signed in February. “Nuts and bolts of the agreement have been discussed and the agreement is in the final stages and we hope to sign it before the end of February 2011,'' he said. The two ministers also held a meeting of the Indo-Kazakhstan Inter-governmental Commission.
[Read more]
Source: The Hindu

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Australia oil & gas fields face high cyclone risk

Australian oil and gas fields in the Indian Ocean face a high risk of being battered by cyclones over the next two weeks if current weather patterns continue, Australia's weather bureau said on Tuesday.
There will be a "moderate-to-high risk" of cyclones off northwestern Australia during the second half of December, said the bureau in its weekly tropical climate report.
[Read more]
Source: Reuters

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ADX Energy receives drilling rigs approval for Sidi Daher 1 well in Tunisia

ADX Energy has had the rig tender evaluation for the drilling of the Sidi Daher 1 well on the Chorbane permit approved by ETAP (Enterprise Tunisienne D’Activites Petrolieres), giving ADX the choice of four compliant and technically capable onshore rigs. 
[Read more]
Source: Proactiveinvestors

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Bankers restarts production at Patos-Marinza oil field following flooding in Albania

Bankers Petroleum Ltd. provided an update on the flooding situation in Albania. 
On December 4, 2010, the banks of the Semani River, which winds through the northern half of the Patos-Marinza heavy oil field were breached by high water levels due to heavy rainfall. The flooding, which extends into current areas of development in the field, caused Bankers to shut in 1,800 bopd of production and shut down operations of three workover rigs and one drilling rig. 
The rain has currently ceased. The river is back within the banks; water levels are beginning to recede; and as of this morning, 1,200 bopd of production have been restored. 
While new rainfall may add to delays in resumption of activity, Bankers is optimistic that activity will resume at full capacity in short order. A full assessment of property and equipment damage is under way. 
Bankers is happy to report that all employees and consultants are safe, and no injuries have been sustained. Additionally, the company is pleased to be assisting the local communities.
Source: Press release

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Mexico high court backs private oil contract rules

Mexico's top court on Monday threw out a legal challenge to regulations allowing private
companies to operate oilfields in the country, moving state oil monopoly Pemex one step closer to signing contracts.
[Read more]
Source: Reuters

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Venezuela approves oil projects with Cuba and others

Venezuela has approved the creation of joint ventures with state-owned companies from Cuba, Angola and Belarus to exploit oilfields in the South American OPEC member, the government said on Monday.
[Read more]
Source: Futurespros

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China: to grow further

Although China is expected to become the world’s No.1 shipbuilding country, the overcapacity was an inevitable topic.
From January to October, Chinese new orders, newbuilding output and orderbook reached 54.62m, 50.90m and 193.66m dwt respectively, rising by 58%, 185% and 2.2%. Without doubt, China would surpass Korea this year. However, it was not regarded as a definite sign of recovery.
[Read More]
Source: Asiasis

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Korean ship exports to break $50bn

The total of Korea's ship exports for this year is strongly expected to hit their highest of $50bn for the first time in history, fiercely competing with the semi-conductor exports for the No.1 position in exports results.
[Read More]
Source: Asiasis

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Croatian MP suggests a shipyard in Trogir might be closed

Croatian Parliament representative Jerko Rosin of the ruling HDZ (Croatian Democratic Union) has suggested the Brodotrogir Shipyard in the southern town of Trogir has no economic future
[Read More]
Source: Croatian Times

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GSL launches naval offshore patrol vessel

PANAJI: Goa Shipyard Limited (GSL) on Monday launched a state-of-the-art 105 m Naval Offshore Patrol Vessel (NOPV), INS Sumitra, the fourth in the series of four NOPVs being indigenously designed and constructed by GSL for the Indian Navy.
[Read More]
Source: The Times of India

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Goldenport takes delivery of bulk carrier from SPP

Shipping group Goldenport Holdings has taken delivery of a new build geared bulk carrier vessel from SPP Shipbuilding Co in South Korea.
The 59,000 DWT vessel was named 'Eleni D' and started a pre-agreed three-year time charter for a daily rate of US$ 23,000.
[Read More]
Source: Stock Market Wire

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First of class semisub named

Singapore’s Sembcorp Marine’s subsidiary Jurong Shipyard is on track to deliver the ‘Atwood Osprey’, a first of its class ultra-deepwater semi-submersible drilling rig to Atwood Oceanics.
[Read More]
Source: Motorship

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Schlumberger Oilfield UK fined over NSea rig safety

Oilfield services provider Schlumberger Oilfield UK PLC was fined 300,000 pounds ($470,100) for placing workers operating on a North Sea rig at risk of exposure to radiation, the Scottish Crown Office said on Monday.
[Read more]
Source: Reuters

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Lockheed Martin-led Industry Team Launches Nation’s Third Littoral Combat Ship

The Lockheed Martin [NYSE: LMT]-led industry team on 4 December launched the nation’s third Littoral Combat Ship (LCS), Fort Worth, at the Marinette Marine shipyard.
[Read More]
Source: defpro

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Argentina likely on verge of big gas find

Argentina is likely on the verge of a major natural gas discovery following exploration by Repsol-YPF's unit in the country, Argentine news media reported.
News of the likely new gas find, initially reported by lapoliticaonline, followed reports that exploration by Repsol-YPF had concentrated on the Patagonian province of Neuquen.
[Read more]
Source: UPI

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American Shipbuilding Association to be dissolved

The Board of Directors of the American Shipbuilding Association (ASA) said today that the organization will be dissolved effective December 31, 2010.
The decision comes after a review of the organization's charter and changes in the industry landscape convinced the Board that another approach was needed to address the industry's issues in Washington.
[Read More]
Source: Marine Log

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DNV unveils concept design for LNG-fueled VLCC

Classification society DNV has taken the wraps off a new crude oil tanker concept. The Triality ship is fueled by LNG, has a hull shape that obviates the need for ballast water and very greatly reduces local air pollution. The concept vessel also recovers hundreds of tons of cargo vapors on each voyage and, says DNV, is "a major step towards the new environmental era for the tanker shipping industry."
[Read More]
Source: Marine Log

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Navios Maritime Holdings Inc. Announces Delivery of Capesize New Building Vessel

Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, announced today that the Capesize vessel Navios Etoile of 179,234 dwt was delivered from a South Korean shipyard to Navios Holdings' owned fleet on December 3, 2010. The vessel is chartered-out for ten years at a net rate of $29,356 per day with 50/50 profit sharing above a BCI Time Charter Average of $38,500.
Source: Press Release

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Kazakhstan's Kashagan may produce by end-2012-minister

Kazakhstan's giant Kashagan oil field should be in production by end-2012, slightly ahead of schedule, contractors for the project hope, the country's oil minister Sauat Mynbayev told reporters on Monday.
"Contractual obligation was to start in October 2013 but they think they will begin it from the end of 2012," he said after a meeting in the Indian capital.
[Read more]
Source: Reuters

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Police say terror group planned to attack Chevron Indonesia

An Islamist terror group on Indonesia's Sumatra island planned to attack foreign workers at unit of Chevron Corp's as well as ambush tourists, a police official told Reuters on Monday.
Indonesia has killed or detained scores of militants since the bomb attacks on the resort island of Bali in 2002, though police and security experts have warned about potential threats to foreign and government targets from newly formed groups.
[Read more]
Source: Reuters

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Russia may have to pay compensation to foreign Yukos investors

The international arbitration court in Stockholm may force Russia to pay compensation to foreign companies which suffered losses over the Yukos affair, a business daily said on Monday.
The Swedish Supreme Court has rejected Russia's appeal against the Stockholm arbitration court's intention to consider a suit by the RosinvestCo UK Ltd company against Russia.
[Read more]
Source: RIA Novosti

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Eni, Partners Reaches Key Production Target at Zubair Oil Field in Iraq

Eni SpA has reached a key production target at its Zubair oil field in Iraq.
Production at the field near the city of Basra has increased to 201,000 barrels a day from 183,000 when Eni and its partners took over management of the field in February, the Rome-based company said in an e-mailed statement.
“With this successful increase in production, the consortium’s contract cost recovery commences, with the group additionally earning a remuneration fee of $2 per barrel on incremental oil production,” Eni said.
[Read more]
Source: Bloomberg

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Lundin Spuds Norall Well Offshore Norway

Lundin Petroleum AB (Lundin Petroleum) announces that drilling of exploration well 16/7-9 on the Norall prospect has commenced.
The well is located in licence PL409 in the Norwegian North Sea.
[Read more]
Source: Offshore Energy Today

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Seven Pacific heads for first project

Subsea 7 Inc. says it new ice-class DP pipelay and construction vessel, Seven Pacific, has mobilized for its first project. The vessel will start a project in block 18 off Angola. 
The vessel's pipelay equipment has a tension capacity of 260 metric tons (287 tons) and a 2,500-metric ton (2,753-ton) storage capacity for flexible pipe on the two underdeck carousels. There is also a built-in deepwater dual 3,000 m (9,842 ft) rated work-class ROV spread and a comprehensive survey system. 
A deck area of 1,700 sq m (18,300 sq ft) has been incorporated into the Seven Pacific for equipment and reel storage. The ship has a 6.6 kV diesel electric power generator and three azimuth thrusters with fixed pitch propellers in the stern nozzles. One retractable azimuth thruster and two transverse thrusters have also been installed forward for better DP capabilities. 
Source: Press release

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Iraq Oil Exports to Increase With New Offshore Facilities in Persian Gulf

Iraq’s oil exports will increase next year when two new offshore mooring facilities for tankers are completed and the country’s Kurdish region resumes shipments of crude, Oil Minister Hussain Shahristani said.
Shahristani also told reporters in Baghdad today that a $12.5 billion agreement between Iraq, Royal Dutch Shell Plc and Mitsubishi Corp. for the capture of flared-off natural gas will not be ready this week.
[Read more]
Source: Bloomberg

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Havyard delivers Global Offshore PSV

A Havyard 832 L SE platform supply vessel (PSV) was recently delivered in Bergen to Global Offshore Services B.V., a wholly owned subsidiary of Garware Offshore Services Ltd in Mumbai, India.
[Read more]
Source: The Motorship

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Petroleum Safety Authority Norway investigates a hydrocarbon leak at Gullfaks B

An investigation into a hydrocarbon leak on December 4 on the Gullfaks B platform operated by Statoil in the North Sea has been launched by the Petroleum Safety Authority Norway (PSA). 
This incident occurred during leak testing in connection with maintenance work with a choke valve on one of the wells. 
Derived from a shut-in volume above the downhole safety valve in the well, the gas leak had a high initial rate of 1.2 kilograms per second and lasted for an hour. A serious condition thereby arose on the installation. 
The PSA’s investigation team will be travelling to Gullfaks B on the afternoon of December 6. One aim of its work is to ascertain the course of events and identify the direct and underlying causes.
Source: Press release

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Gazprom Neft seeking Arctic offshore assets

Russia’s fifth biggest oil company, Gazprom Neft, is preparing bids for four big fields in the Pechora Sea and the Kara Sea, the company confirms.

Company representative Viktor Savelyev told journal Neftegazovy Vertikal that Gazprom Neft has a high strategic focus on offshore fields in the Arctic. He also confirms that bids for four big fields in the Pechora and Kara Seas are under preparations.

[Read more]

Source: Barentsobserver

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Faroe Petroleum farms out interest in license, Fulla prospect West of Shetlands

Faroe Petroleum has farmed-out to Canadian Overseas Petroleum Limited (COPL) of West of Shetland licence P.1161 and the associated commitment to drill an exploration well on the Fulla prospect. 
Licence P.1161 covering Blocks 206/5a, 10a is located approximately 10 kilometres to the north east of the producing Clair oil field and contains the Freya discovery and Fulla prospect.
[Read more]
Source: Press release

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Petrofac acquires interest in Gateway Gas Storage in the East Irish Sea

Petrofac has acquired a 20% interest in Gateway Storage Company Limited, to progress and develop the Gateway Gas Storage project in the East Irish Sea. The cash consideration could be up to £33 million over time, funded from cash resources. This is split into a fixed upfront payment and additional contingent payments subject to key project development milestones being achieved, including the outcome of a further successful equity sales process. 
[Read more]
Source: Press release

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Desire disappointed with additional Rachel data offshore the Falkland Islands

Desire Petroleum  revealed on the latest logging results from the 14/15-2 Rachel North well which, following additional wireline data, will be plugged and abandoned with oil shows in the North Falkland Basin of South America. 
[Read more]
Source: Press release

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Valiant Hits Dust off UK

Valiant Petroleum plc announces that its Don Southwest ‘H’ Panel exploration well (211/18a-28) has reached total depth of around 11,150 feet (3,400 metres).
[Read more]
Source: Offshore Energy Today

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Hyperdynamics Announces Addition to Its Guinea-Based Facilities and Logistics Staff

Hyperdynamics Corporation announced today that Arthur F. Meadows has joined the company as Operations Manager based in Conakry, Republic of Guinea.
"With the addition of Art Meadows to our in-country Guinea staff, as well as recently contracting with AGR Peak Well Management Limited as drilling project manager, we continue to strengthen our team to operate the Guinea project," said Ray Leonard, President and Chief Executive Officer.   "Art has more than 20 years of managing international project logistics, primarily for the oil and gas industry in Central Asia and the Middle East.  He will be responsible for organizing warehouses and storage yards, helicopter transportation services, construction contracting, materials and equipment purchasing, general logistics and local worker training."
Meadows most recently was a country manager for DGT, a project logistics company serving oil and gas and other industries, in Azerbaijan, Kazakhstan and Turkmenistan. Earlier, he held similar positions with Karasu Operating Company, an oil and gas operator, in Azerbaijan; and Logenix International LLC, a logistics company specializing in USAID and government contracts, working in Iraq, Kuwait, Dubai and Jordan. Meadows spent six years in the U.S. Army in a supply/logistics role, followed by six years with the U.S. Marine Corps, where he was a graduate of the Advanced Leadership course.
Source: Press release

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EMGS wins 3D seismic work offshore Asia

Electromagnetic Geoservices ASA (EMGS) has today been awarded a contract worth $4 million to perform several 3D EM surveys in Asia. 
Data acquisition will start in early January from the vessel BOA Galatea, following completion of a work program for Woodside in Australia. The contract is expected to be completed within 30 days. 
Source: Press release

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Buccaneer Energy Limited Announce Funding For Jack-Up Rig Acquisition

Buccaneer Energy Limited advises that due diligence investigations by the Alaskan Industrial and Development Export Authority ("AIDEA") in respect to AIDEA making a direct equity investment into the Company's wholly owned subsidiary Kenai Offshore Ventures, LLC ("Kenai Offshore") is preceding satisfactorily.
[Read more]
Source: Press release

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Nido Announces Tidalo Operations Update-Philippines

Nido Petroleum Limited(Nido), as Operator of Service Contract 54A (SC 54A), wishes to provide this update on the well testing of the Tindalo-1ST1 following the completion of recent workover operations.

[Read more]

Source: Offshore Energy Today

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Sevan Driller BOP problems solved, rig to restart drilling ops for Petrobras offshore Brazil

Following efforts to fix a Blowout Preventer (BOP) problem, Sevan Marine reported that the Sevan Driller rig in the deepwaters offshore Brazil is moving toward a restart of operations. 
All ten ST locks on the BOP have been replaced. The BOP has been lowered to the seabed and testing has been completed. 
[Read more]
Source: Press release

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MEO Australia Announced Artemis-1 Progress No.5

MEO Australia Limited  advises that since the last progress report, the BOP’s have been run and tested. The 12-¼” hole commenced drilling at 21:30 hrs (Perth time) on Friday 3rd December and has been drilled to a depth of 2,936m.
The well was shut in at 18:00 hrs on Sunday 5th December after encountering an over-pressured gas zone above the primary objective.
Present activity is circulating 11.0ppg mud to enable resumption of drilling operations including running the contingent 9-5/8” casing string before drilling ahead to the primary objective.
WA-360-P Participants
Equity
Petrobras International Braspetro PIB BV (a wholly owned subsidiary of Petrobras) 50%
North West Shelf Exploration Pty Ltd (wholly owned MEO subsidiary) 25%
Cue Energy Resources Limited  15%
Rankin Trend Pty Ltd a wholly owned subsidiary of Moby Oil & Gas 10%
Source: Press release

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Third time unlucky for bulker

SHIPPING authorities in Bangladesh confirmed to Fairplay today that the bulker Jahan Moni has been captured by pirates in the Arabian Sea off the coast of India.
[Read More]
Source: Safety at Sea

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Rickmers in double-digit MPC delivery

The Rickmers Group has taken delivery of Rickmers Masan, its tenth MPC (multi-purpose carrier).
Built at the Jingling yard in China, the new ship is the first in a series of four superflex heavy MPC ships that are being long-term chartered to Hyundai Merchant Marine (HMM) for a period of eight years. They will operate a new HMM service linking the Far East with the Middle East.
[Read More]
Source: Heavy Lift

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PIRATES HIJACK CARGO SHIP WITH 25 PEOPLE OFF INDIA

Suspected Somali pirates hijacked a Bangladeshi ship carrying nickel ore in the Arabian Sea and appear headed to the lawless East African nation, officials said Monday.
[Read More]
Source: Maritime Sun News

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Vinashin creditors to meet tomorrow

Creditors of a US$600m, eight-year loan for Vietnam's troubled state shipbuilder Vinashin will meet tomorrow to discuss a request for a standstill from the near-bankrupt conglomerate, Basis Point reported on Friday.
[Read More]
Source: Seatrade Asia

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Find your ship’s emissions rating now

Carbon War Room, a not-for-profit organization that harnesses the power of entrepreneurs to implement market-driven solutions to climate change, launched a new data hub which publicizes the relative energy efficiency of almost every large ocean-going vessel and specific data on emissions from container ships.
[Read More]
Source: Seatrade Asia

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Wind power service ship from Hvide Sande

Hvide Sande Skibs- & Bådebyggeri has delivered another vessel for the offshore industry. It is the Wind Transporter, a vessel designed for service personnel transports from shore to the wind power plant Walney in the Irish Sea.
[Read More]
Source: Shipgaznews

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Taiwan, China search for missing crew off Philippines

A cargo ship with 24 Chinese crewmembers sank off the waters of the Philippines' Batanes province on December 3, according to the Philippine National Police (PNP).
[Read More]
Source: Baird Maritime

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Macduff Ship Design secures foreign export orders

United Kingdom: Macduff Ship Design is continuing to enlarge its list of overseas clients with the announcement it has been awarded contracts from companies in Saudi Arabia and Europe.
[Read More]
Source: Baird Maritime

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Record number of seafarers to fall into pirates' hands in 2010

Fears are growing among the international shipping community that 2010 could see a record number of seafarers kidnapped by Somali pirates.

The number of crew kidnapped so far this year stands at 790 and experts fear the figure will soon surpass last year’s record number of 867. While some seafarers have been rescued, the number still captive stands at 435.

[Read More]

Source: The East African

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Upgrading of ship laws urged

Muntinlupa Rep. Rodolfo Biazon has pushed for the upgrading of the shipping laws as well as the creation of a maritime code.
The senator-turned-congressman filed House Bill 1155 seeking to iron out laws concerning the registration of ships, ship mortgages, maritime fraud, accidents at sea, and ship owner's liabilities.
[Read More]
Source: Manila Bulletin

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West Africa-U.S. Tanker Deals Gain as Reported Charters Advance

Oil companies booked enough tankers to ship at least 38.9 million barrels of West African crude to the U.S. last month, an increase of 62 percent since October, according to data from Clarkson Research Services Ltd.
[Read More]
Source: Bloomberg

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The Marshall Islands Registry included on list of "Low Risk Ships"

The Republic of the Marshall Islands (RMI) has been included on the list of flag States which meet the criteria for Low Risk Ships (LRS) published by
the Paris Memorandum of Understanding (MoU) under its New Inspection Regime (NIR). Inclusion on this list requires that a flag State be on the Paris MoU white list and also that it has satisfactorily completed the Voluntary IMO Member State Audit Scheme (VIMSAS).
[Read More]
Source: MIC

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Chinese Banks Develop Ship Financing Market

China may be a major force in international shipbuilding but Chinese banks only have a five percent share of the international ship financing market, reports Guangzhou Daily, citing Lin Shunhui, the vice director of the Shanghai branch of China Construction Bank.
[Read More]
Source: CapitalVue

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