McDermott Awarded Construction and Installation Contract for Gulf of Mexico Field Development

McDermott International, Inc., announced today that one of its subsidiaries was awarded a contract by Arena Offshore, LP for construction and installation of a platform for Arena’s “Riker” Prospect, located at Eugene Island Block 338 in 275 feet of water. The company’s Morgan City fabrication facility...

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Sinopec agrees to buy Occidental's Argentina unit for 2.45 bln USD

China Petrochemical Group (Sinopec Group), China's largest oil refiner, said Friday it has agreed to purchase U.S. Occidental Petroleum Corp.'s Argentinean subsidiary for 2.45 billion U.S. dollars. Sinopec said in a statement Friday the acquisition includes all assets of Occidental Argentina. Occidental...

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Woodside to shut Australia Cossack oilfield for 3 mths

Woodside Petroleum Ltd , Australia's second-largest oil and gas producer, plans to shut its Cossack oilfield to change the floating production storage and offloading unit at the site, a company official said on Friday. [Read more] Source: Reut...

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China November Crude Imports Jump by 26% as Refiners Boost Fuel Production

China, the world’s biggest energy user, increased net imports of crude oil by 26 percent in November from a month earlier as refineries ramped up processing rates to ease a diesel shortage. Net purchases were 20.3 million metric tons, or 5 million barrels a day, the highest since September’s record...

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Burleson Energy Limited Drilling Update For D. Truchard No.1 Well

Burleson Energy Limited advises that the D. Truchard #1 well has been drilled to a total depth of 12,000 feet (3,658 metres) with gas shows and gas flows to the surface encountered while drilling the lower part of the well. The commercial significance of the gas...

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Buccaneer Energy Limited Announces Successful Cook Inlet Lease Sale

Buccaneer Energy Limited is pleased to advise that its wholly owned subsidiary Buccaneer Alaska, LLC has been notified that it was the apparent high bidder on one onshore lease totalling 1,268 acres offered by the Mental Health Trust Land Office at the lease auction...

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Devon cuts output over choked pipelines

Devon Energy Corp. has closed the taps on 10,000 barrels of oil production a day, as Canadian crude backs up behind jammed capacity in pipelines belonging to Enbridge Inc. The company expects the curtailments “to continue through year-end, reducing the company's...

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Chevron set to spend $26bn

Chevron, the second-largest US oil company, said yesterday it will increase spending 20 per cent to $26 billion next year, with 85pc of the budget allocated to oil and gas exploration and production. Rising demand for crude oil from emerging and developed countries...

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Leviathan exploratory drilling results delayed

The Israeli partners in the Leviathan prospect notified the Tel Aviv Stock Exchange (TASE) this morning that a delay was likely in completing various tests on the Leviathan 1 well. The results were due to be published on Monday. The tests include the logs (electrical tests) in the main target strata...

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Cenovus Energy to invest up to $2.3 billion in 2011, with focus on oil growth

Cenovus Energy Inc. plans to invest as much as $2.3 billion in 2011, with about 90 per cent of that amount going toward oil projects and refinery operations. About $750 million will be spent on the Foster Creek and Christina Lake projects, which are part of a joint-venture with U.S. energy giant ConocoPhillips,...

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Croatia wants concrete moves on LNG terminal

Croatia is determined to speed up the building of an Adriatic liquefied natural gas (LNG) terminal and may even look for new partners for the project, a senior economy ministry official said on Thursday. "It is our strategic interest to build such a terminal to diversify supply routes. We're now getting...

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OMV to Announce Petrol Ofisi Financing in First Half of 2011

OMV AG, central Europe’s biggest energy company, will make a decision on the long-term financing of the 1 billion-euro ($1.3 billion) acquisition of Petrol Ofisi AS in the first half of 2011. OMV will initially pay for the takeover in cash and via existing bridge...

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Container Ship Charter Rates Fall 30 Percent

Ocean carriers sit out slack season amid volume, rate uncertainty Container ship charter rates are falling as ocean carriers sit out the seasonally slack fourth quarter and reassess their capacity requirements amid uncertainty over cargo volumes and freight rates...

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Dry bulk market losing steam once again on capesize woes

A decrease of iron ore sales to China this week has once again brought down the Capesize market and in turn the dry bulk market’s benchmark, the Baltic Dry Index (BDI) which yesterday retreated by 1.54% to 2,111 points. The Capesize segment was down by 3.57% on the day. [Read More] Source: Hellenic...

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OGDCL submits joint bid for BP Pakistan assets

Pakistan's Oil and Gas Development Co Ltd (OGDCL) said it had bid for BP's assets in Pakistan, estimated by analysts to be worth as much as $690 million. OGDCL, Pakistan's largest listed company, said it had made a joint bid with Pakistan Petroleum Ltd (PPL) for...

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LNG-powered costs down on traditional tankers

Daily power costs for the world’s first gas-powered, ballast-free very large crude carrier will be 13% lower than a traditional tanker using marine fuels. [Read More] Source: Lloyd's List ...

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Drilling vessel contract for Web Rigging Services

A Scottish firm which has developed a lightweight alternative to scaffolding has been contracted to play a supporting role in the hunt for oil and gas in the frozen north, writes Mark Williamson. [Read More] Source: Herald Scotl...

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API launches campaign to support Canadian oil sands

The American Petroleum Institute is stepping up its campaign to highlight the role of oil sands to American jobs, economic growth and energy security. The campaign will be part of API’s coordinated nationwide program on oil and natural gas priority issues. The announcement was made by API’s Cindy Schild,...

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Hyundai Mipo Dockyard says 2 ship orders cancelled

South Korea's Hyundai Mipo Dockyard Co Ltd (010620.KS) said on Thursday that two ship orders were cancelled, lowering combined total orders by 79 billion won ($69.34 million) to 684 billion won ($600.3 million). Combined orders for 14 petrochemical product carriers were received from unidentified shippers...

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Edge Resources Inc.: Operational Update-Pipeline License Approved & First Phase of Multi-Well Drilling Program Completed

Edge Resources Inc. announces that, further to its November 4, 2010 press release, the Company has now received full license approval from the ERCB to start construction of its dedicated low-pressure, shallow-gas pipeline project, which includes more than 15km...

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Somalia's pirates take to the high seas

Somali pirates who have plagued the shipping lanes in the Gulf of Aden for the last few years have been steadily moving eastward to evade international naval forces protecting maritime traffic. The pirates' latest strike was off the coast of India, hundreds of miles from their usual haunts. [Read More] Source:...

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Maine-built ship Raw Faith sinks off Cape Cod coast

In this photo released by the U.S. Coast Guard, a mast of the 88-foot sailing vessel Raw Faith protrudes from the water as the boat sinks in approximately 6,000 feet of water about 166 miles southeast of Cape Cod, Mass., Wed., Dec. 8, 2010. The crew of the Kittery,...

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USA. Strong demand for offshore service vessels signals growing market

Offshore service vessels (OSV) are becoming larger, more specialized and technically sophisticated as a result of the rising demand for more complex deepwater field developments, including the Gulf of Mexico. Currently, there are some 2,500 OSV worldwide, with a steady growth projected from now through...

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Statoil to develop technology with Siemens

Norwegian oil major Statoil and German engineering group Siemens AG have signed a technology development cooperation agreement initially focused on wind power, subsea technology, electrical engineering and energy efficiency. The companies will split in half the...

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Aker Solutions reorganizes into three seperate oilfield service companies

International oil services, engineering and construction company Aker Solutions has decided to cultivate its core businesses by creating three separate companies. The new streamlined entities have a clear ambition to grow in their respective markets.  The...

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Liebherr LR 13000 crawler crane lifts 3,371 tonne test load

Further to the news item uploaded here on December 7, Liebherr has now confirmed that its new LR 13000 has successfully completed a lift of more than 3,000 tonnes during tests currently being conducted. [Read More] Source: Heavy L...

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Panama Canal reopens as rain abates

AN ARMS shipment discovered on a Ukrainian ro-ro hijacked by pirates had been destined for southern Sudan, according to US diplomatic cables revealed by WikiLeaks. The Panama Canal has reopened after heavy rains forced its first closure in over two decades. The...

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Alliance Engineering Awarded South Nemba Auxiliary Project, Offshore Angola

Wood Group's Alliance Engineering has been selected by EPC contractor Daewoo Shipping and Marine Engineering (DSME) to provide jacket and topsides engineering and design for Chevron's South Nemba Auxiliary (SNX) project. The SNX project is located offshore West...

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Faina truth revealed

AN ARMS shipment discovered on a Ukrainian ro-ro hijacked by pirates had been destined for southern Sudan, according to US diplomatic cables revealed by WikiLeaks. [Read More] Source: Safety at ...

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National Oilwell Varco Completes FPSO Technology Acquisition

National Oilwell Varco, Inc. announced today that it has acquired Advanced Production and Loading PLC (“APL”), a subsidiary of BW Offshore Limited (Oslo: BWO). APL, based in Norway, designs and manufactures turret mooring systems and other products for Floating...

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ClassNK signs its largest cooperation agreement

Tokyo: Japan’s National Maritime Research Institute (NMRI) and ClassNK, the world’s largest shipping classification society, signed an extensive cooperation agreement at a press conference in Tokyo earlier this week. [Read More] Source: Seatrade A...

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New practice expected to delay offshore drilling

The Obama administration will require environmental studies before approving any deep-water wells - a new regulatory hurdle that virtually assures the government will not green-light any of those projects soon. In outlining the plan Wednesday, the nation's top offshore drilling regulator said he hopes...

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Sietas books order for wind farm jack-up

Hamburg's J.J.Sietas is the first German shipbuilder to win an order to develop and build a jack-up vessel for offshore wind farm installation. The order is from Netherlands marine contractor Van Oord and includes an option for a second ship of the same type....

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Cunard appoints its first woman Captain

Danish-born Inger Klein Olsen made history December 1 when she assumed command of Cunard Line's Queen Victoria, becoming Cunard's first woman Captain. [Read More] Source: Marine ...

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BG Group: Three FPSOs at Tupi, Guara offshore Brazil to recover 2.2 Bboe

BG Group announced an update on the Tupi and Guará fields in the Santos Basin, offshore Brazil. The update relates to the first two Floating Production, Storage and Offloading (FPSO) vessels on the Tupi field and the first FPSO on the Guará field.  The first...

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Turkey building new-generation tanker

Delta Marine, Omega Marine and Mesh have jointly developed and designed a sophisticated oil product/chemical tanker built under Bureau Veritas classification for worldwide trade. [Read More] Source: Motors...

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OGX discovers hydrocarbons at Waikiki in the shallow waters of the Campos Basin

Brazilian independent OGX has identified the presence of hydrocarbons in the Albian-Cenomanian section of well 1-OGX-25-RJS, located in the BM-C-39 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.  A hydrocarbon...

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Docks celebrate 150th anniversary

One Cornwall's most important maritime workplaces is celebrating its 150 anniversary this year. Since it began a century and a half ago, Falmouth Docks' role has changed dramatically. Now a new exhibition charting its history has opened at the nearby National...

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China strengthens its tanker base

China continued to optimise investment in order to control costs and snap up assets at every opportunity – including tankers, according to a report issued by Gibson Research. [Read More] Source: Tanker Opera...

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TGS Announces Multi-client 3D Survey in Benin

TGS will commence a multi-client 3D survey Offshore Benin in blocks 5 and 6. This project covers roughly 4,000 km2 in the deep water area of Benin. Data acquisition will commence in January 2011 and is expected to be completed in Q2 2011. This project is the second...

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Russian Owner for Helsinki Shipyard

The Helsinki shipyard owned by the South Korean shipbuilding company STX Finland Cruise Oy will soon have Russian owners. [Read More] Source: YLE...

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Statoil contracts COSL Pioneer semisub for Norwegian drilling program

Statoil has awarded a contract to COSL Drilling Europe for the charter of the semisubmersible COSL Pioneer. Plans call for the rig to be used for production and exploration drilling on the Norwegian continental shelf (NCS) from mid-2011.  “We are pleased...

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Dragon Oil Announces completion of infrastructure upgrades

Dragon Oil plc , an international oil and gas exploration and production company, announces the completion of key infrastructure projects being the 30-inch 40 km trunkline and Phase II expansion of the Central Processing Facility (“CPF”). [Read more] Source: Offshore...

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Serco takes delivery of last Damen vessel

Serco takes delivery of last Damen vessel marking the end of a three-year contract 29 out of 29 vessels delivered on time and on budget! A three-year, 29-vessel contract came to an end as the last tugboat of the huge Serco contract was named ‘SD Deborah’ at the...

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Arctic blast delays Galaxy II spud of Varadero prospect in the UK North Sea

EnCore Oil plc reported that the Transocean Galaxy II heavy duty jackup rig left Dundee Harbour yesterday afternoon to move to a standby location in the UK North Sea.  As soon as a weather window becomes available, the rig will be moved to the Varadero location...

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Bergen Group Dreggen awarded contracts for NOK 40 million

Bergen Group Dreggen has been awarded contracts for production of six cranes with a total value of NOK 40 million. The deliveries will be carried out from Q4 2011 until Q2 2013. The contracts are with customers in Korea, Singapore and Holland. These contracts...

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Growing demand for offshore vessels

The demand for offshore service vessels (OSV) is growing, according to Germanischer Lloyd. There are some 2,500 offshore service vessels worldwide, with a steady growth projected from now through 2020. ”Aside from the traditional uses of OSV in the maritime and...

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Hapag-Lloyd IPO planned for 2011

The Executive Board of TUI AG and the Board of Directors of Hamburgische Seefahrtsbeteiligung "Albert Ballin" GmbH & Co. KG (Albert Ballin) have instructed investment banks Credit Suisse, Goldman Sachs and Greenhill to commence preparations for a stock exchange listing of Hapag Lloyd, the world's...

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Pipavav Shipyard likely to bag Rs 8000 cr order; stock down

MUMBAI: Pipavav Shipyard may bag orders worth Rs 8000 crore from Russian government arm, says ET Now. The company is likely to build war-ships for Rosoboron Exports . [Read More] Source: The Economic Ti...

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STX about to win an offshore project

South Korean shipyard, gained 7.2 percent to 22,300 won, the most since Nov. 17. “There are rumors that the company may win an offshore order this month,” said Cho In Karp, head of research at Heungkuk Securities Co. in Seoul. STX Offshore can’t confirm the speculation, the company said in an e-mailed...

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