Venezuela faces uncertainty over oil find

Venezuelan President Hugo Chavez said the country's hydrocarbon reserves surpass those of Saudi Arabia but left open the possibility of an early commercial exploitation of the resource. A spate of nationalizations has turned investor institutions away from Venezuela,...

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Santos revenue up 2 per cent in 2010

Santos Ltd says revenue increased two per cent in calendar 2010, despite an eight per cent drop in production, due to higher realised prices for oil and gas. Santos says total oil and gas production in the December quarter of 2010 was 12.8 million barrels of oil...

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Interior announces new structure for regulating deepwater drilling

The Interior Department created two independent bureaus and an advisory panel on Wednesday as Secretary Ken Salazar announced widespread structural changes designed to streamline federal regulation and response to emergencies related to deepwater oil drilling. [Read...

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Eurasia Drilling hopes to acquire Transocean's Trident XX jackup for $260MM

Eurasia Drilling Company Limited is in negotiations with an affiliate of Transocean for the acquisition of the Trident XX jackup drilling rig presently operating in the Caspian Sea.  If agreed, the acquisition from Transocean is anticipated to close by January...

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Magnum Hunter agrees to buy oil and gas firm NuLoch Resources for US$327 million

Magnum Hunter Resources Corp. has agreed to acquire Calgary-based oil and gas producer NuLoch Resources Inc. (TSXV:NLR) for US$327 million. The Houston-based company, which focuses on unconventional shale properties, said the boards of both companies have already...

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Kazakhstan says recovers $143 mln from gas consortium

Kazakhstan's customs authorities recovered 21 billion tenge ($143 million) last year from the consortium that runs the large Karachaganak natural gas project, the customs committee said in a statement on Wednesday. Italian energy major ENI (ENI.MI: Quote) and...

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BP Hopes to Gain Arctic Reserves in Deal With Rosneft

BP is looking to book oil and gas reserves in the deal with Russia's Rosneft, head of BP's Russian operation Jeremy Huck told Reuters. BP and state-controlled Rosneft agreed Friday to an equity share swap under which they plan to jointly explore for offshore oil and gas. The deal gives the British firm...

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Thailand May Complete First LNG Terminal by June

Thailand may complete its first liquefied natural gas import terminal by June, said Kurujit Nakornthap, deputy permanent secretary at the energy ministry. The country will purchase about 1 million metric tons of the fuel annually for two to three years, Kurujit said today in Batam, Indonesia. That’s...

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Fluor awarded $3.5 billion EPC contract by Santos for Gladstone LNG Project in Australia

Fluor Corporation announced today that it was awarded an engineering, procurement and construction (EPC) contract by Santos Ltd. (STO AU) for its Gladstone Liquefied Natural Gas (GLNG) project in Queensland, Australia. Fluor’s EPC contract includes upstream facilities...

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Chevron working to speed completion of Thai gas project Platong 2

Chevron is still trying to speed up the completion of its $3.1 billion Platong 2 gas development in the Gulf of Thailand to meet the Thai kingdom's growing demand for the fuel for power, petrochemical and transport use, according to company and government officials...

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Thai PTTEP to invest $16.5 bln in 2011-2015

PTT Exploration and Production Pcl(PTTEP), Thailand's only publicly listed oil explorer, said on Tuesday it would spend 504 billion baht ($16.5 billion) over four years to expand production and boost sales. The budget was revised to reflect an investment for Canada's...

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Maersk Oil Enters Into Cross-Border Deal With Norway

Maersk Oil is entering its first cross-border tie-in, which will enable gas and condensate from a field in Norwegian waters to be taken to Maersk Oil's Harald platform, in Danish waters, for processing before exporting onwards. The agreement is an example of how...

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Emerging Economies to Lead Energy Growth to 2030 and Renewables to Out-Grow Oil, Says BP Analysis

World energy growth over the next twenty years is expected to be dominated by emerging economies such as China, India, Russia and Brazil while improvements in energy efficiency measures are set to accelerate, according to BP’s latest projection of energy trends,...

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Lundin Petroleum awarded ten licences in Norwegian licensing round

Lundin Petroleum AB ("Lundin Petroleum") is pleased to announce that its wholly owned subsidiary Lundin Norway AS has been awarded ten exploration licence interests in the 2010 Norwegian Licensing Round, (Awards in Predefined Areas, APA). The awarded licences...

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Total awards $80 million subsea production system option 3 of Girassol Resource Initiative to FMC Technologies

FMC Technologies, Inc. announced today that it has signed an agreement (Option 3 - Girassol Infills) with Total Exploration & Production Angola for the manufacture and supply of subsea production equipment to support the Girassol Resource Initiative (GirRI)...

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Joining Forces to Form Wilhelmsen Technical Solutions Helps Customers Stay Compliant and Reduce Cost

Two Wilh. Wilhelmsen companies join forces to provide a more comprehensive portfolio of solutions, equipment and services tailored to the maritime and offshore industries.The newly formed company, Wilhelmsen Technical Solutions, will be a global provider of fully...

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Lundin Given Consent to Carry Out Exploration Drilling in Block 16/1 Off Norway

Lundin Norway AS has been granted consent to carry out exploration drilling of well 16/1-15 in the North Sea. The well will be drilled in production license 338 in the North Sea, 180 km west of Jæren. The well has the coordinates N 58° 52′ 24”, E 02° 15′ 41”....

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Design capacity, key to Top

The previous world's shipbuilding leader, Japanese shipbuilders have waned in a fast pace since 1990. However, Korea's shipbuilding industry, which started to develop in a full scale in the 1980s, began to get ahead of Japan's since the 1990s as it accommodated the needs for new vessel types, such as...

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Statoil announces new exploration acreage

Statoil has been awarded interests in 11 production licences on the Norwegian continental shelf (NCS) yesterday, 18 January. Statoil is operator for eight of these licences. “We’re very pleased with this year’s awards,” says Gro Gunleiksrud Haatvedt, Statoil’s...

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Hanjin confirms HHI box ship talks

South Korea’s Hanjin Shipping has confirmed that it is in discussions with Hyundai Heavy Industries to acquire up to eight vessels ranging from 3,600 teu-4,600 teu. A spokeswoman for the company stressed that negotiations were ongoing and nothing had been finalised. However, the company said it would...

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Petrobras Completes Production Testing of Maruja-1 Exploration Well

Petrobras achieves an equipment constrained production test oil flow rate of 6142 stb/d through a 5/8 inch choke from the Maruja-1 Exploration Well during the clean-up flow period.Karoon advises that production testing of the Maruja-1 exploration well is complete....

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Mother ship design for deepwater offshore wind farms

Anglo-Dutch company Offshore Ship Designers has launched a new offshore wind farm maintenance vessel concept. It aims to improve the uptime of deepwater wind turbines and reduce maintenance costs and carbon emissions while offering a solution to the logistics...

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Northern Offshore announces new contract award for jackup Energy Enhancer

Northern Offshore, Ltd. announced today that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with Perenco UK Limited ("Perenco") for the jackup Energy Enhancer. The contract covers two well abandonments on the Welland Field in the UK Southern...

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AIDA ship order gives Siemens something to smile about

Siemens Industry Solutions Division has received an order from Meyer Werft in Papenburg, Germany, to to provide diesel-electric propulsion systems, and power generation and distribution systems for the AIDA Cruises  ship ordered at the shipyard in August....

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BP says ‘yes’ to another year with AGR DS

BP has signed a new, 12-month contractwith AGR Drilling Services, potentially worth NOK110m. The contract is for AGR DS’s Riserless Mud Recovery system (RMR®), which enables operators to drill top-holes more safely, quickly and cleanly. BP will use the technology...

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Spring Energy Awarded 5 Licenses in the APA 2010 Round - 2 as Operator

Spring Energy has been awarded 5 licenses in the APA 2010 Round, which includes 2 licenses where the Company is an operator for the first time. Both the operated licenses are located in the Norwegian Sea.  Spring Energy is very pleased with all the awards...

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MV MARINA Delivered

Oceania Cruises took delivery today of the 66,000 gt MARINA at Fincantieri’s Sestri Ponente shipyard in Italy, the line’s first newly built ship. [Read More] Source: Maritime Matt...

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Cyprus to have clear oil/gas assessment in 2012

Cyprus should have estimates of its offshore hydrocarbon wealth by March 2012 and any future energy supply contracts will take into account the probability the island has such assets, officials said on Wednesday. Cyprus aims to diversify away from oil to natural gas for its energy needs, but the discovery...

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Sembcorp Marine: To Build US$182M Rig For Atwood Oceanics Unit

Sembcorp Marine Ltd. (S51.SG) Thursday said it has signed a contract with a unit of Atwood Oceanics Inc. (ATW) to build a jack-up rig at a cost of US$182 million. The rig is the first of a series of three options Atwood Oceanics Pacific Ltd. had and will be built by Sembcorp Marine's unit PPL Shipyard,...

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Hamworthy: Electric pumps break through in Brazil

Hamworthy has brought its electrically-driven deepwell cargo pump technology to a new market, following a breakthrough contract in the Brazilian offshore sector.The fluids handling specialist has received an order covering electric driven cargo pump systems for...

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Cosalt Offshore Wins Multi-Million Pound UK and Norwegian Deals with Acergy

Cosalt Offshore, a provider of lifting, tooling and marine services to the oil and gas industry, has concluded agreements with Acergy to provide all lifting services it requires in the UK and Norwegian sectors of the North Sea. The two contracts are worth up to...

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Dry bulk market’s fall sees no end

Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index (BDI) kept falling mid-week, ending Wednesday’s session down by 1.47% to 1,411 points, the lowest it’s been since late of 2008, amid the global financial meltdown. As...

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NEXANS : Completes Multi-Million Euros Power Cable Contract for Ras Laffan Port Expansion Project in Qatar

458 km of MV/LV cables, including non-lead sheathed FR (fire-resistant) power cables have been supplied to CCC for EPIC contract for Berths & Port Infrastructure for Ras Laffan Port Expansion Nexans, the worldwide leader in the cable industry, has successfully...

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Faroe Petroleum announces New exploration licences awarded in Norway

Faroe  Petroleum, the  independent oil  and gas  company focusing principally on  exploration,  appraisal and production opportunities in the Atlantic margin, the North  Sea and Norway, is pleased to announce that it has been...

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Falklands Oil & Gas presses on - lining up seismic, negotiating deepwater rig

In order to provide further drilling options across Falkland Oil and Gas Limited (LON:FOGL) acreage, the company will undertake a site survey program in the first half of 2011 on its acreage offshore the Falkland Islands in South America. The vessel is currently...

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Norway: AHTS KL Sandefjord Delivered to K Line Offshore AS

Anchor Handling Tug Supply Vessel KL Sandefjord was recently successfully delivered to K Line Offshore AS from the building yard STX OSV, Langsten. With its 34.000 BHP and a bollard pull of 390 tons she is the strongest AHTS in the world. After installation and...

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Maersk Oil receives license in Norwegian North Sea

Maersk Oil has received a license in the Norwegian North Sea as a result of the latest APA Licensing Round. The license is a geographical extension of License PL501, where operator Lundin and partners Statoil and Maersk Oil made the recent Avaldsnes discovery,...

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Atwood Oceanics appoints new vice president for operations

Atwood Oceanics, Inc., a provider of offshore drilling services, has appointed Arthur Polhamus as vice president for operations, who will be the principal operating officer of the company effective February 1, 2011. Mr Polhamus comes to Atwood after nearly 16...

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Vanguard creates a heavy lift gate in an international border

A Goldhofer modular trailer, supplemented by additional axles and a 4.5 m deck in the middle, was required by South African project cargo handler Vanguard to manage the transportation and rigging of three transformers from Richards Bay harbour to a substation...

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Fairmount Marine tows FPSO Pazflor

Three Fairmount-Class tugs have departed from Korea to tow the FPSO Pazflor from Korea to Angola. At 325 m long, 61 m wide and with a towing draught of about 8 m, Pazflor, built by DMSE (seen below), is one of the largest FPSOs ever constructed. Preparations for...

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Hyundai Heavy Industries wins $1 bil. drillship order

Hyundai Heavy Industries (HHI), the world's biggest shipbuilder, has signed a deal worth 1.14 trillion won or $1 billion in a drillship deal with U.S. oil and gas rig operator Nobile Drilling. The contract calls for the Korean shipyard to deliver two drill-ships...

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Demand for Offshore Vessels and Replacement will Drive India Shipbuilding and Repair Market

The shipbuilding and repair market in India is poised to pick up momentum with the increasing penetration of Indian shipbuilding companies in the offshore vessels (OSVs) segment. Indian companies have established strong credentials in the building and repair of...

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New technologies will raise pressure on the demand for qualified crew

Radical changes to ships over the next decade will create additional demand for qualified crews at a time when the industry is facing an acute shortage. A recent BIMCO report forecast a worst-case scenario of a shortage of more than 60,000 officers by 2015 at a time when vessels are set to become increasingly...

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Guide launched for ship efficiency technologies and measures

Fathom, a provider of market intelligence products and services for the marine and energy industries, is developing a comprehensive guide to ship efficiency and technology measures, in conjunction with BIMCO and Lloyd’s Register. [Read More] Source: Motors...

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China almost finished restoring ex-Varyag to be used to train pilots

China has taken a major step toward commissioning its first aircraft carrier by largely completing the restoration of a derelict ship purchased from Ukraine, a news report said Wednesday. [Read More] Source: New...

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Seawall repairs to be conducted at the Port of Singapore

The Port of Singapore will be conducting repair works on the seawall off Woodlands Waterfront, according to GAC.Mariners are reminded that when in the vicinity of the working area to adhere to the following precautions:Keep well clear and do not to...

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Aker finalises subsea installation vessel design

Aker Solutions in Norway has finalised the vessel specifications of ‘AMC Connector’, a future new-build subsea installation and construction vessel based on the Aker OSCV 06L design. [Read More] Source: Motors...

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First commercial marine scrubber system order for Wärtsilä

Wärtsilä has announced the signing of a turnkey contract with Finnish shortsea operator Containerships Oy. The agreement covers the retrofitting of a Wärtsilä fresh water scrubber for the vessel ‘Containerships VII’, which is equipped with a Wärtsilä W7L64 main...

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Hostage-taking at sea rises to record levels, says IMB

More people were taken hostage at sea in 2010 than in any year on record, the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) global piracy report disclosed. [Read More] Source: Sea N...

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Shipping faces rising costs, uncertain rates

INTERNATIONAL accountancy firm and shipping industry consultant Moore Stephens says the shipping sector faces a challenging year in 2011, with freight rates under pressure, crew costs rising and banks closely monitoring the viability of poor performers. [Read...

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St Lawrence Seaway traffic up 15 per cent in 2010

THE NUMBER of ships passing through St Lawrence Seaway increased 15 per cent last year to 35.5 million tonnes. [Read More] Source: Sea N...

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Warning on stability risk when complying with ballast water rules

The ‘A’ rated 125 million GT North P&I club has warned shipowners to take great care when attempting to comply with ballast-water rules by exchanging ballast water at sea. The club says in the latest issue of its loss-prevention newsletter ‘Signals’ that without...

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