Libyan protesters control oil fields

Libyan protesters have gained control over the country's oil fields as thousands of Libyans, demanding the ouster of Muammar Gaddafi's regime, are advancing towards the capital Tripoli, reports say.
[Read more]
Source: Press TV

Posted on 2/27/2011 / 0 comments / Read More

EUNAVFOR warship evacuates casualty from merchant vessel in Indian Ocean

Late on the evening of 23 February, EUNAVFOR warships in the Arabian Sea were alerted that an incident had occurred on board a German owned container vessel, 155 Nautical miles South East of the island of Socotra, resulting in burns to one of the crew.
[Read More]
Source: gCaptain

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DSME to construct the first wind tower

Korean company Daewoo Shipbuilding & Marine Engineering （DSME）announced that it will launch the first production of wind turbine towers at its manufacturing plant located in  Pictou County, Nova Scotia, Canada.
[Read More]
Source: Seatrade Asia

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Pirates hit tanker off southern Malaysia

A Liberian-registered tanker was robbed by pirates while anchored off southern Malaysia early on Sunday morning. The tanker, Simon, was anchored 2.1nm south-southwest of Pulau Mungging, Malaysia when it was boarded by five pirates armed with machetes and handguns at 04-35hrs on Sunday morning.
[Read More]
Source: Seatrade Asia

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Enerplus posts small loss for Q4

Enerplus Corp. reported a small fourth-quarter loss, weighed down by higher financing charges and softerthan-expected hedging gains, the company said Friday.
Net loss in the quarter hit $995,000 or a penny per share, compared with a net profit of $2.72 million in the fourth quarter of 2009.
[Read more]
Source: Calgary Herald

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DHMI to raise $35m for newbuilding

Daewoo-Mangalia Heavy Industries (DMHI), a jv between Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) and Mangalia Shipyard in Romania is going to securitize account receivable to invest newbuilding.
[Read More]
Source: Seatrade Asia

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Eurasia Сanal project delayed

The construction of a navigable canal connecting the Caspian Sea and the Azov-Black Sea basin (Eurasia Canal) has been postponed until Kazakhstan's cargo base is warranted, Russia’s Deputy Transport Minister Viktor Olersky said in an interview with journalists, PortNews reported.
[Read More]
Source: Baird Maritime

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BP says to shut Angolan Plutonio oilfield in April

A BP spokesman said the oilfield was now pumping around 90,000 barrels per day (bpd), close to half its average output since it came on stream in 2007.
[Read more]
Source: International Business Times

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Baltic index rises, capesize market seen pressured

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, turned barely positive on Friday, although sentiment was expected to remain weak due to a
[Read More]
Source: Reuters

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IP and Hempel follow Jotun's price rise

Following Jotun’s announcement of a coatings price rise, another two manufacturers have announced price rises due to escalating raw material costs.
[Read More]
Source: Tanker Operator

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US Regulators State Refusal To Restart Drilling Despite Political Pressure

Interior Secretary Ken Salazar said that U.S. regulators would not bow to political pressure to restart deepwater drilling in the Gulf of Mexico before they are certain the oil-and-gas industry is capable of containing an oil spill like the one that followed last BP’s Deepwater Horizon disaster.
[Read more]
Source: Gcaptain

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Hanjin Shipping takes delivery of two new containerships

South Korea-based Hanjin Shipping has taken delivery of two 8,600TEU class containerships named Hanjin Hamburg and Hanjin New York.
[Read More]
Source: Trading Market

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Overcapacity unlikely in 2011 as recovery will continue – NOL

Neptune Orient Lines (NOL) has played down concerns over excess tonnage in 2011 that could drag down container freight rates and spoil the fairy-tale recovery story.
[Read More]
Source: Cargonews Asia

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Hapag-Lloyd looks to find 'anchor investor' with April IPO

THE owners of Hapag-Lloyd will aim for a initial public offering in mid-April with a target valuation of US$5 billion, according to the German carrier and its major shareholders TUI and the Albert Ballin consortium.
[Read More]
Source: Sea News

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Piracy threatens Europe’s supply of jet fuel, diesel

Pirate attacks are starting to distort world fuel trade, threatening supplies of jet fuel and diesel to Europe from Asia, because higher premiums for shipping make trade uneconomic.
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Source: Independent Online

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Madagascar navy rescues pirate-seized vessel

Madagascar's navy Sunday towed into Antsiranana port a hijacked Comoros-flagged vessel almost a week after its captain and two suspected pirates arrived on the island to seek help, an official said.
[Read More]
Source: AFP

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Petrobras begins extended well test in pre-salt of Marlim Leste field in Campos Basin

Petrobras announces the start up of the Extended Well Test (EWT) for the Tracajá reservoir, located 124 km off the coast of Rio de Janeiro, in the pre-salt area of Marlim Leste field, in Campos Basin.
[Read more]
Source: Penn Energy

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Dry bulk ship owners unfazed by market’s downturn, keep newbuilding orders in focus

Even though the dry bulk market, in terms of earnings underwent one of the slowest year starts in history, with the industry’s benchmark, the Baltic Dry Index posting consecutive falls for weeks, up until February, ship owners kept on ordering new vessels, in a clear indication that they believe in the market’s long term prospects, while also can’t ignore today’s low values of vessels, which are acting as a lure for many. As a result, during January, a total of 148 vessels were ordered for a total capital consideration of $7.7 billion, according to a new analysis from shipbrokers Golden Destiny.
[Read More]
Source: Hellenic Shipping News

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Investments of NOK 65 billion to increase recovery in the Ekofisk Area

The Norwegian Ministry of Petroleum and Energy today received Plans for Development and Operation (PDO) on the Ekofisk and Eldfisk fields. The projects (Ekofisk South and Eldfisk II) will entail investments in the region of NOK 65 billion.
[Read more]
Source: Scandinavian Oil & Gas Magazine

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Salamander Energy announces Bualuang field operational update

Salamander Energy plc is pleased to announce a reserves upgrade to the Bualuang oil field and the commencement of its drilling programme in the B8/38 licence, Gulf of Thailand. Salamander is operator and holds a 100% interest in the B8/38 licence.
[Read more]
Source: Your Oil & Gas News

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Hyundai lands $1.2bn FPSO

Hyundai Heavy Industries has landed an offshore newbuilding order worth more than $1bn from BP.
[Read More]
Source: Asiasis

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Statoil announces subsea contract propels fast track ambitions

Statoil picks up the pace towards realizing fast track field developments offshore Norway.
A contract signed recently with Technip for marine operations and pipelay on the Gygrid field development in the Norwegian Sea is proof.
“This agreement moves us one step closer to realising Gygrid, planned to start during 2Q 2011 and begin producing as soon as late 2012/early 2013,” says Halfdan Knudsen, vice president project management, Development and production Norway.
[Read more]
Source: Subsea World

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Daewoo to meet $15bn orders

Korea's Daewoo Shipbuilding & Marine Engineering is expected to score a maximum of $15bn in new orders for this year.
Kim Hong-keun, researcher at Seoul-based Dongbu Securities, says, "Daewoo has been ensured to build a bunch of boxships for Denmark's Maersk, already securing $2.35bn in new orders so far this year, which is 21.4% of its new order target for this year."
[Read More]
Source: Asiasis

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Subsea 7 wins $60MM contract to link Ensign to Audrey in the North Sea

Subsea 7 S.A. announced the award of an engineering, procurement, installation and commissioning contract from Centrica Energy Upstream for the flowlines and subsea works on the Ensign Project, approximately 18km North West of the Audrey ‘A’ platform, located over Block 48/14 and 48/15 of the UK Sector of the North Sea. The contract is valued at approximately $60 million and is part of Subsea 7’s long-term partnership agreement with Centrica Energy Upstream.
[Read more]
Source: Penn Energy

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Leading Subsea Company Attracts Global Interest

Brisk business has been reported by Aberdeen-based Ecosse Subsea Systems, following the Subsea 2011 event in the city recently.

First-time exhibitors Ecosse Subsea Systems have announced interest from across the globe in all divisions of the company, particularly the £500,000 SCAR specialist trenching plough which was on display at the event.

[Read more]

Source: Subsea World

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Study lists Alaska Arctic OCS development's potential benefits

Development of resources in the Chukchi and Beaufort seas off Alaska’s Arctic coast would create an average 54,700 jobs/year nationwide with a $145 billion total payroll and generate $193 billion in federal, state, and local revenue over 50 years, according to a study by Northern Economics Inc., Alaska’s largest private economic consulting firm, and the University of Alaska at Anchorage’s Institute of Social and Economic Research.
[Read more]
Source: Oil & Gas Journal

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China's biggest offshore construction yard expects to post loss

The Board of CIMC Raffles Offshore (Singapore) Limited said Friday that it expects to report a loss for the financial year ended December 31, 2010. CIMC Raffles Offshore, now a subsidiary of China International Marine Containers (Group) Co. Ltd., owns and manages the biggest offshore construction shipyard in China via its subsidiary, Yantai CIMC Raffles Offshore Ltd.
[Read More]
Source: Marine Log

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Lukoil, Vanco win Black Sea blocks

LUKOIL Overseas and Vanco International are set to jointly explore two blocks in the Romanian sector of the Black Sea.
The duo has signed concession agreements with Romania’s National Agency for Mineral Resources for the Est Rapsodia and Trident blocks. LUKOIL Overseas will have an 80% interest and Vanco International 20%.
[Read more]
Source: Penn Energy

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IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte.

JAPAN PRESS: IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte. Ltd to construct offshore oil rigs to survive stiff competition with South Korean makers, the Nikkei reports. IHI will oversee overall rig design and make the floating structures at its Aichi factory while Jurong will take charge of final assembly of plants for extracting crude to be attached at its Singapore facility, the report says. By combining its design capabilities with Jurong's cost competitiveness, IHI hopes to catch up to its South Korean competitors, it says.
Source: Automated Trader

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Major Offshore Project Activity Grants Bright Future for Dockwise (The Netherlands)

Dockwise Ltd., a world leader in heavy marine transport, today publishes results for the three month period and full year ended 31 December 2010.
After a tough year, Q4 was a quarter of healthy performance. The quarter saw the successful completion of the offshore Transport & Installation project Vyborg, a USD 100 million contract, and the logistics  management project Koniambo. 
[Read more]

Source: Offshore Energy Today

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Doosan Engine Orders May Double on Ship Pickup, Non-Marine Push

Doosan Engine Co., the world’s second-largest maker of ship engines, said orders may more than double this year as shipping lines resume fleet-enlargement plans and the company works to expand its non-marine businesses.
[Read More]
Source: Bloomberg

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More ships, less new orders for shipbuilders

Global oversupply of ships has made new shipbuilding orders hard to come by for local firms and that’s affecting revenue visibility
[Read More]
Source: livemint

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The Deepsea Bergen contract is signed

Statoil and Odfjell Drilling have signed the contract for «Deepsea Bergen» commencing in June 2012.
Odfjell Drilling was awarded a Letter of Intent from Statoil in October last year for the utilization of «Deepsea Bergen» for development drilling on the NCS. The contract is now signed.
[Read more]
Source: Odfjell Drilling

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Northern Offshore announces new contract award for Jackup Energy Endeavour

Northern Offshore, Ltd.  today reported that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with Maersk Olie og Gas AS ("Maersk"), for the jackup Energy Endeavour.  The award is subject to approval by the Danish Energy Authority.  The contract, for operations in the Danish Sector of the North Sea, has an initial duration of one year and is scheduled to commence in early April 2011.  Maersk has options to extend the contract for up to two further years. The contract value for the initial term is US$25.6 million.
Gary W. Casswell, Northern Offshore's president and CEO, said, "Maersk has a long history with the Energy Endeavour, and we look forward to providing the rig to them again under Northern Offshore's management."
Source: Press release

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FoundOcean awarded Troll P12 project in the North Sea by Subsea 7

FoundOcean will manufacture and install two fabric formwork grout bags to support the expected freespan of the new 36” pipeline at the approach to the Troll A Platform, in the Norwegian Sector of the North Sea. The worksite is in approximately 330m water depth.
[Read more]
Source: Scandinavian Oin & Gas Magazine

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Rowan Companies Inc. Has Gapped Up To A New High After Q4 Report

Rowan Companies Inc. reported fourth quarter net income of $0.45 per share Friday morning, compared to $0.53 per share last year. Results for the latest quarter included $0.03 per share of net gains on debt redemptions and asset disposals, compared to $0.01 per share of asset disposal gains in the year ago quarter. The consensus estimate was for EPS of $0.29.
[Read more]
Source: RTT News

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MirTac succesfully implemented Star at underwater specialist Seatec

MirTac has successfully completed the implementation of asset management system Star IPS at Seatec. MirTac supports Seatec in her maintenance, safety and audit operations for her diving and ROV projects.
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Source: Logistics Week

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Sonde Resources Corp. Announces: - REVISED TERMS AND THE CLOSING OF THE SALE OF LIBERTY NATURAL GAS LLC

Sonde Resources Corp. announced today that it has completed definitive documentation and closed the previously announced sale of Liberty Natural Gas LLC (the "Company") which owns a 100% working interest in the Liberty Natural Gas LNG project (the "Project") to an entity related to West Face Capital Inc. (the "Purchaser"). The transaction closed on February 22, 2011.
Subsequent to Sonde's January 28, 2011 press release with respect to the proposed sale, the Office of the Governor for the State of New Jersey publicly issued a statement indicating that it would not approve a licence for the Project. In light of the increased uncertainty regarding the Project the terms of the transaction were renegotiated with the Purchaser agreeing to assume control over the Project's future. Pursuant to the sale, Sonde received a U.S.$1.0 million cash payment upon closing in respect of reimbursable expenses, and is entitled to receive deferred cash consideration of U.S.$12.5 million payable upon the Company's first successful gas delivery.
West Face Capital Inc. is a Toronto-based institutional investment manager with over $1.5 billion in assets under management.
In addition, Sonde has increased the maximum amount available under its credit facilities with National Bank of Canada by an additional $20 million (Cdn) in the form of development demand loan. This will assist Sonde in its continued drilling program in Western Canada.
Source: Press release

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Malaysia: Petronas Extends Contract with Tanjung Offshore for 3 Offshroe Support Vessels

Tanjung Offshore Services Sdn Bhd (TOS), a wholly owned subsidiary of Tanjung Offshore Bhd, has been awarded a contract extension from Petronas Carigali Sdn Bhd for the provision of three units of offshore support vessels (OSV).
[Read more]
Source: Offshore Energy Today

Posted on 2/27/2011 / 1 comments / Read More

CGGVeritas Joint Ventures

CGGVeritas has signed a term sheet with JSC Geotech to create a joint venture to operate 2D and 3D marine seismic vessels, primarily in Russian and CIS waters, and with Elnusa to carry out 2D and 3D marine seismic surveys, in Asia Pacific Region, with main focus in Indonesia.
[Read more]
Source: Hydro International

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