Petroceltic reports success from first appraisal well at Ain Tsila gas discovery on Algeria

Petroceltic International PLC reported a successful flow test from well AT-4, the first of the current appraisal campaign of the Ain Tsila gas discovery on Algeria’s Isarene permit. [Read more] Source: Proactive Invest...

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China buying Queensland's gas

The Queensland government has given indicative approval for China National Offshore Oil Corporation subsidiary CNOOC Gas & Power to gain a 50% stake in five Exoma exploration permits. [Read more] Source: GladstoneObserver.com...

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Turkmenistan agrees to raise natural gas supply to China

Turkmenistan has agreed to increase its natural gas supply to China by 20 billion cubic meters a year, China's top economic planning body announced Wednesday. [Read more] Source: Xinhuanet.co...

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Aker Solutions: utions a finalist for Browse DTU delivery

Aker Solutions has reached a key milestone in being selected as one of two remaining players for the delivery competition of the Browse LNG development. The FEED will commence immediately and the EPCI tender will be submitted mid-2011 with expected contract award end 2011.  Per Harald Kongelf,...

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IEA: Libyan oil production drastically drops

The International Energy Agency (IEA) continues to closely monitor developments with regard to Libya’s production and export facilities. However, information on production levels and export volumes is incomplete due to the very poor communication channels and staff shortages in Libya. In addition, there...

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Total Agrees to Buy 12% of Novatek, Enter Yamal LNG Project

Total SA (FP), Europe’s third-biggest oil company, agreed to buy 12 percent of OAO Novatek and join the gas producer’s Arctic LNG project to expand in Russia. Total is paying about $4 billion for the stake, Chief Executive Officer Christophe de Margerie said today...

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Salazar Says Interior Department Will Move Forward With Consideration of Drilling Permits

In a Senate Natural Resources Committee hearing Wednesday, Interior Secretary Ken Salazar said he believes the judge who ruled in February that the department must move forward on five pending deepwater drilling permits is "wrong" and does not have the jurisdiction...

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Petronas plans $91 bln capex over 5yrs; warns about volatile oil

Malaysia's Petronas could spend up to 275 billion ringgit ($90.6 billion) over the next five years as the state oil giant seeks to boost its stable of high-yielding oil assets and secure profit growth, its chief said on Wednesday. [Read more] Source: Reut...

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FMC Tech Gets BP Gig, Plans Split

Oil drilling equipment maker FMC Technologies Inc. announced the receipt of a five-year contract from British major BP plc. The global frame agreement calls for FMC Technologies to manufacture and supply subsea production systems and life-of-field services for...

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Petrobras confirms massive oil potential of Iara in the Santos Basin pre-salt offshore Brazil

Confirming the field's massive potential, Brazilian major Petrobras completed the drilling of the exploratory extension well 3-BRSA-891A-RJS (3-RJS-682A) on the Iara oil and gas field in the Santos Basin pre-salt offshore Brazil. [Read more] Source: Penn Ene...

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McDermott Wins Contracts Totaling More Than $700 Million

McDermott International, Inc., announced today that certain of its subsidiaries in the Middle East and Caspian region were recently awarded a number of contracts for offshore engineering and construction projects ranging from installation, through to full EPCI...

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FMC Technologies Receives $125 Million Order From Petrobras

FMC Technologies announced today that it has received a $125 million order from Petrobras , Brazil's national oil company, to supply equipment for use in their oil and gas developments offshore Brazil. The order, for 32 subsea trees, represents the remaining equipment...

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Fairmount tugs deliver Skarv Idun

Fairmount Marine’s tugs, Fairmount Sherpa and Fairmount Summit, have delivered FPSO Skarv Idun to the port of Stord in Norway. [Read more] Source: Heavy L...

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Keppel fortifies capabilities in floating production topsides

Keppel Offshore & Marine acquires 27.8% stake in SGX-listed topside module fabricator Dyna-Mac. Strengthening its lead as the total solutions provider for floating production systems, Keppel Offshore & Marine Limited (Keppel O&M), through its wholly-owned...

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Lundin Norway Granted Drilling Permit for Well 16/3-4

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/3-4, cf. Section 8 of the Resource Management Regulations.  Well 16/3-4 is to be drilled from the drilling facility Bredford Dolphin after the drilling of wildcat...

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Maersk shuts down North Sea oil platform after leak

Danish Maersk Oil on Wednesday shut down a North Sea rig after oil was observed on the surrounding water. Production will resume when the technicians have located the source of the leak and made the necessary repairs, the company said, adding that a later surveillance...

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Norway: Havila Shipping Annoinces Charter Agreements with Statoil

Statoil has declared the second of three one year options for each of the AHTS vessels Havila Mars and Havila Mercury and the first of two one year options for the RRV vessel Havila Runde. [Read more] Source: Offshore Energy To...

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OGX identifies presence of hydrocarbons in Campos Basin

OGX has identified the presence of hydrocarbons in the Albian and Aptian sections of well 1-OGX-31-RJS, which is located in the BM-C-41 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block. [Read more] Source: Scandinavian...

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Helix Fast Response System Key to First GOM Drilling Permit

The Bureau of Offshore Energy Management, Regulation and Enforcement has approved the first permit to restart deepwater drilling operations in the Gulf of Mexico since the Macondo spill incident, referencing availability of containment solutions like the Helix Fast Response System as a deciding factor...

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Production stopped at Petrobras' Guara EWT offshore Brazil; pipeline rupture reported

Brazilian major Petrobras has temporarily stopped production on the Extended Well Test of the Guara field in the deepwaters of the Santos Basin offshore Brazil. The production in that area is performed through a dynamic positioning platform called Dynamic Producer....

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Strategic Marine wins Offshore Plant Hire contract

Perth-based ship building company Strategic Marine has won a contract to supply a 27-metre work barge to service the energy and resources sector in Western Australia's north-west.  [Read more] Source: News Ma...

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Foster Wheeler Awarded Availability and Reliability Study by ZADCO in the UAE

Foster Wheeler AG announced today that its Global Engineering and Construction Group has received a contract from Zakum Development Company (ZADCO), to perform an availability and reliability study in connection with the expansion of the Zirku oil processing facilities...

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Escopeta jack-up rig leaves Gulf for Cook Inlet

Escopeta Oil and Gas President Danny Davis says he plans to load the Blake 151 jack-up rig onto the Kang Sheng Kou heavy-lift vessel at Freeport, La., on March 8 and be on the way to Cook Inlet shortly thereafter. [Read more] Source: Peninsula Clar...

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Cosalt Offshore Wins Shell Work

Cosalt Offshore, a provider of lifting, tooling and marine services to the oil and gas industry, is to provide inspection services to Shell at two UK onshore gas processing plants. [Read more] Source: The Maritime Executive&nb...

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Gazprom and A. P. Moller-Maersk Group discussed cooperation prospects – including drilling in the Barents Sea

The Gazprom headquarters hosted on Tuesday a working meeting between Alexander Ananenkov, Deputy Chairman of the Company's Management Committee and Klaus Rud Sejling, Vice President of A. P. Moller-Maersk Group.  [Read more] Source: Russia-Media...

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Halliburton integrates drilling service products

Halliburton has integrated the drilling capabilities of several service offerings into a proprietary engineering workflow, suite of drilling applications on DecisionSpace InSite infrastructure, and localized, cross-function teams. [Read more] Source: Offshore...

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Mozambique’s Nacala Port to Expand Container Terminal

Mozambique’s Nacala port will invest $200 million over 20 years to boost capacity at its container terminal, said Agostinho Langa, executive director of Corredor De Desenvolvimento do Norte, the group that runs the facility. [Read More] Source: Bloomb...

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Fairmount tugs deliver Skarv Idun

Fairmount Marine’s tugs, Fairmount Sherpa and Fairmount Summit, have delivered FPSO Skarv Idun to the port of Stord in Norway. [Read More] Source: Heavy L...

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SOCAR, Keppel Offshore and AIC have set up Caspian Shipyard JV

Work on construction of Baku Caspian Shipyard has started. Azerbaijan Investment Company’s executive director Afgan Isayev informs that civil (ground) works have been launched on the building site of the future shipyard. [Read More] Source: ABC...

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Navios nabs $50m more

Navios Maritime Partners has picked up a further $50m from Commerzbank and DVB Bank to help pay for a double capesize purchase. [Read More] Source: TradeWi...

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KLC reveals running loss

Cash strapped Korea Line Corp has lost over $800m in the past two years, it revealed today. KLC, which is undergoing restructuring after entering receivership, saw much of the damage for 2010 done in the final quarter of the year. [Read More] Source: TradeWi...

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Norwegian Cruise Line warns fares to rise on April 1

Norwegian Cruise Line today announced it plans to hike fares by as much as 10% on April 1. The 11-ship line says the fare increase is being driven by strong demand since the beginning of Wave Season -- the traditionally heavy booking period between January and...

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14,100TEU ‘CSCL Star’ calls at Port of Hamburg

‘CSCL Star’, with a capacity of 14,074TEU, is the largest container vessel ever to call at the Port of Hamburg. The major volume of the Chinese trade with Europe passes through Hambur...

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Bangladesh shipbreakers survive headwinds

DHAKA - Bangladesh's shipbreaking industry, which claims to supply 80% of the country's iron demand, is fighting renewed legal moves against its environmentally hazardous, and often fatal, business in the runup to growth that may be even greater than it has enjoyed since its last round of court battles. [Read...

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Damaged cargo ship now leaking oil off Sweden: coast guard

An Icelandic cargo ship that ran aground last month inside Norway's only marine natural reserve, was on Tuesday leaking oil along the Swedish coast as it sailed towards Denmark where it will undergo repair, the Swedish coast guard said. [Read More] Source: msn...

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Norden sees "mediocre" 2011 after Q4 profits drop

Danish shipper D/S Norden reported a slightly smaller-than-forecast drop in operating earnings for the fourth quarter, hit by weak freight rates, and said 2011 is likely to be a mediocre year. [Read More] Source: ForexY...

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Incat Crowther to Design 79-ft Cat Passenger Ferry

The vessel is a follow up to the Incat Crowther-designed 79-ft catamaran scientific research catamaran under construction at the yard, and will be operated in the Gulf of Riga, Estonia. [Read More] Source: Sea N...

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Newbuilding Bulker under Construction Will Be 1st Ship to Use Silicon

Mitsui O.S.K. Lines, Ltd. yesterday announced the first use of a new silicon-based anti-fouling paint for a 38,000-class bulker now under construction at the Minaminippon Shipbuilding Co., Ltd. Shitanoe Works (Usuki-shi, Oita Prefecture). When completed, the new vessel will sail under a long-term charter...

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JES makes turnaround

Chinese shipbuilding company JES International has returned to black in the fourth quarter last year, reporting a net profit of CNY40.6m ($6.2m). [Read More] Source: Asia...

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Shandong emerges as major ship-exporter

Shandong-based shipbuilders in China are increasingly exporting their ships in a stable pace with the new orders awarded from foreign shipowners accounting for 70% of their total orderbook of around 10m DWT. [Read More] Source: Asia...

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Royal Caribbean orders new generation ship for 2014 delivery

Miami-based Royal Caribbean Cruises recently signed an agreement with German shipyard Meyer Werft to build the first vessel in a line of new generation ships. [Read More] Source: Sun Senti...

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Bullish on ABG Shipyards: N Jayakumar, Prime Securities

ABG Shipyards clearly mentioned that they do want to dilute, they do not want to raise any equity and more importantly you have enough evidence that promoters have been increasing their holding and the shipyards space by the way. Given what is happening the highest amount of ships scraping in the world...

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Shipyard owner A&P Group bought

A ship repair and engineering company which owns three shipyards in England is under new ownership. [Read More] Source: BBC N...

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Daewoo Shipbuilding wins 1.2 tln won drill ship orders

Daewoo Shipbuilding & Marine Engineering Co., South Korea's No. 2 shipbuilder, said Wednesday that it has won a 1.2 trillion won ($1.06 billion) order to build two drill ships. [Read More] Source: The Korea Her...

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