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16 February 2017
Gulfsands Announces Secured Term Financing Facility of up to £4 Million
Gulfsands Petroleum has finalised a Secured Term Facility of up to £4 million with its Major Shareholders. The Lenders are Waterford Finance & Investment, Blake Holdings (a company controlled by Mr. Richard Griffiths) and ME Investments.The proceeds will be used for general and administrative expenses of the Group and for…
16 February 2017
STATS Completes Isolation on Challenging Middle East Subsea Pipeline
Engineers at STATS Group had a hat-trick of challenging issues to overcome when commissioned to isolate a 42 in. subsea pipeline in the Middle East.The dead leg pipeline was housed within an oil storage tank and the Middle National Operating Company owner was concerned the integrity of the pipe was…
16 February 2017
Aramco Awards More Work to Consortium
Saudi Aramco has awarded the consortium between L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of Larsen & Toubro, and EMAS CHIYODA Subsea two engineering, procurement, construction, and installation (EPCI) contracts.The first is to supply and install four wellhead decks in the Safaniya oil field. Located in the Persian Gulf,…
16 February 2017
Geoex Outbids Spectrum in MCG Acquisition
Norwegian multi-client seismic data specialist, Spectrum, has decided to withdraw the offer to acquire all the issued and outstanding shares in MultiClient Geophysical (MCG).The withdrawal follows the increase of the offer price by Geoex, a company bidding along Spectrum to acquire all outstanding shares in MCG.The important factor in the…
16 February 2017
JDR Bags Umbilical Contract Offshore India
JDR has been awarded a steel tube umbilical contract by Cameron, on behalf of operator ONGC, for the 11 wells of Western Offshore project.The development involves subsea completion of 11 oil and gas wells located at ONGC’s Western Offshore fields in India, under Mumbai High, Bassein & Satellite and Neelam…
15 February 2017
ADNOC Announces Plans to Consolidate ADMA-OPCO and ZADCO
ADNOC today announced its intention to integrate the operations of the Abu Dhabi Marine Operating Company, ADMA-OPCO, and Zakum Development Company, ZADCO, into a single new company to enable efficiencies and synergies across the multiple ADMA-OPCO and ZADCO offshore concessions and fields.Commenting on the consolidation, Dr. Sultan bin Ahmad Sultan…
15 February 2017
Noble, Plains All American JV Acquires Delaware Basin Pipeline
Noble Midstream Partners LP and Plains All American Pipeline LP have entered a joint venture (JV) agreement to buy the Advantage Pipeline LLC in the Southern Delaware Basin in a deal totaling $133 million.Each company will own 50% of the Advantage JV, which runs through Pecos and Ward counties, Texas,…
15 February 2017
Rosmorport Adds Another Vessels to its Fleet
FSUE Rosmorport recently acquired a self-propelled hopper barge named FORT that will be used by the company’s North-Western Basin Branch.The vessel, acquired in December 2016, is the first hopper barge for the North-Western Basin Branch and the 57th vessel in its fleet.The barge can carry up to 3,000 t of…
15 February 2017
Works on Horace Diversion Inlet Structure About to Begin
A contractor for the U.S. Army Corps of Engineers, St. Paul District, is preparing to start construction activities on the diversion inlet structure, near Horace, North Dakota, this week.The contractor, Ames Construction, Inc., from Burnsville, Minnesota, is mobilizing equipment to the site to conduct pre-construction investigations.The diversion inlet structure is…
15 February 2017
RWSI Construction Project 60 Pct Complete
The US Army Corps of Engineers, Savannah District, announced few days ago that the Raw Water Storage Impoundment (RWSI) construction project – an important part of the Savannah Harbor Expansion Project (SHEP) – is now roughly 60% complete.The contractor, Thalle Construction Company of Hillsborough, North Carolina, started work on the…
15 February 2017
Dalby Equipping its Entire Fleet with Newly-Developed Fender
Dalby Offshore, in collaboration with Plymouth-based company Manuplas, has developed a new modular honeycomb bow fender to bring greater stability to its vessels in high seas, enabling wind turbine technicians to work longer in challenging sea conditions.The company’s vessel Dalby Aire has been already fitted with the fender to work…
15 February 2017
Modus Presents New AUV-ROV Hybrid
Modus Seabed Intervention today informed it had completed system integration and trialling of an Autonomous Underwater Vehicle (AUV) featuring capabilities and characteristics of a Remotely Operated Vehicle (ROV). This is one of the subsea industry’s first commercially available hybrid unmanned underwater vehicles, according to the company.The system, developed in partnership…
15 February 2017
BEIS Sets Out New CfD Rules, Caps Phased OWF Projects at 1.5GW
The UK government has set a cap of 1.5GW for phased offshore wind projects in the allocation of Contracts for Difference (CfDs), starting from the allocation round due to begin on 3 April.Namely, the new rules oblige the developers who plan to develop their offshore wind projects in phases to…
15 February 2017
Fugro Buys ‘Rem Etive’ from Solstad
Oslo-listed vessel owner Solstad Offshore (SOFF) has struck a deal with Fugro for sale of the subsea construction vessel Rem Etive, previously part of REM Offshore fleet.REM became part of Solstad Offshore in December last year, creating a fleet of 61 vessels including 26 CSVs, 16 AHTSs and 19 PSVs.The…
15 February 2017
Harvey Gulf in Subsea Pact with Helix
Gulf of Mexico-focused contractor Harvey Gulf has teamed up with Helix’s marine contracting business unit Canyon Offshore to provide ROV and survey capabilities on the vessel Harvey Intervention.The 91 meters long multi-purpose support vessel (MPSV) was delivered by Florida-based Eastern Shipbuilding in 2012.The newly formed alliance with the ROV operator…
15 February 2017
TechnipFMC Hires DOF Subsea Vessel for Prelude FLNG Campaign
DOF Subsea Australia has been awarded a contract by Technip Oceania, part of TechnipFMC in Australia, for the provision of multipurpose support vessel (MSV) “Geoholm” for the Prelude FLNG project, operated by Shell Australia.The Geoholm will be required to provide ROV and light construction support services to TechnipFMC in Australia…
15 February 2017
Eni and BP Conclude Stake Sale in Egypt’s Zohr Field
Eni and BP have completed the sale of 10% interest in the Shorouk concession offshore Egypt, which contains the giant Zohr gas field.Eni’s CEO, Claudio Descalzi, Bob Dudley, CEO of BP, and the Egyptian Minister of Petroleum, Tarek El Molla signed a deed completing the sale to BP.The signing took…
15 February 2017
Bourbon Nets Hylia Pipelay EPCI Off Gabon
Bourbon has secured its first pipelay contract from Total Gabon for the engineering, procurement, construction and installation (EPCI) of 25 km of 6” rigid pipeline as part of the Hylia water injection project using Zap-Lok technology.For the execution of this contract, Bourbon is subcontracting Cortez Subsea for pipelay equipment and…
15 February 2017
Korea Shipping to Buy Up to 10 HMM Vessels
The state-backed ship financing company Korea Shipping is looking to buy up to ten container vessels operated by Hyundai Merchant Marine (HMM), and lease them back to the shipping firm.The financing company, which was established in January 2017 to help local shippers and shipbuilders amid a lengthy depression seen by…
15 February 2017
AWE Divests Interest in New Zealand's Tui fields
AWE Limited has entered into an agreement to sell the company’s 57.5% interest in the Tui area oil fields to Tamarind Management Sdn Bhd, subject to customary consents from the New Zealand Government and Tui Joint Venture.Under the terms of the agreement, Tamarind will acquire all of the outstanding shares…
15 February 2017
ProSep Awarded Contract for Statoil's Troll B ZMP Project
ProSep, the technology and service provider for integrated process solutions, announced today that it will supply one ProDry unit to Statoil for the Troll B ZMP Project. ProSep’s project scope of supply – awarded through Aker Solutions – began in January 2017 and is expected to last approximately five months.“The…
15 February 2017
Wood Group Awarded BP Global Service Agreement
Wood Group has been awarded a global agreement with BP for the provision of conceptual engineering services, pre-front end engineering design (pre-FEED) and FEED engineering services. The agreement has a contractual duration of three years with an option to extend for two additional years.Wood Group’s extensive global expertise provides BP…
15 February 2017
Kina Petroleum Granted PPL 338 Extension and Awarded New Licence PPL 581
Kina Petroleum has provided an update in relation to its foreland exploration activities. Kina confirms that the PPL 338 licence has been extended for a further 5 years and that it has been awarded a new licence PPL 581, covering part of the area of the previous PPL 338 licence.…
15 February 2017
Gulfsands Petroleum Awarded Moulay Bouchta Licence Extension
Gulfsands Petroleum has announced that its subsidiary, Gulfsands Petroleum Morocco Limited ('GPML'), has been awarded an extension to its Moulay Bouchta Petroleum Agreement together with a revised work programme.As previously disclosed in the Group's Interim Report, an agreement had been reached with Office National des Hydrocarbures et des Mines ('ONHYM'),…
15 February 2017
Pennine Petroleum signs Velca Block PSA in Albania
Pennine Petroleum has announced that it has signed a Production Sharing Agreement ('PSA') with Albpetrol for the exploration and development of the Velca Block in Albania.The finalized PSA contains a license agreement signed by Pennine, Albania’s Ministry of Energy and Industry, and Albpetrol, the country’s state-owned energy firm, for a…
15 February 2017
Alfa to Sell Oil Assets in Eagle Ford and Peru
Mexican conglomerate Alfa said on Tuesday it will sell its energy projects in the Eagle Ford shale in Texas, as well as its energy assets in Peru, while also stalling all energy investments due to lingering low oil prices.Alfa's Chief Financial Officer Ramon Leal said at a press conference the…
14 February 2017
Saudi Arabia Cuts Oil Output by Most in Eight Years
Saudi Arabia told OPEC that it cut oil production by the most in more than eight years, going beyond its obligations under a deal to balance world markets.The kingdom reported that it reduced output by 717,600 bpd last month to 9.748 MMbpd, according to a monthly report from the Organization…
14 February 2017
Lundin discovers oil in the Filicudi prospect, southern Barents Sea
Lundin Petroleum announced that is has made an oil and gas discovery in the main well 7219/12-1 and is presently drilling a sidetrack 7219/12-1A on the Filicudi prospect. The wells are located in PL533, approximately 40 km southwest of Johan Castberg and 30 km northwest of the Alta Gohta discoveries…
13 February 2017
ARGE Team Wins DolWin3 Maintenance Contract
GE Grid GmbH has awarded OIS Offshore Industrie Service and Green Wind Offshore, gathered around the ARGE O&M Project, with a contract to provide maintenance for the 900MW DolWin3 offshore grid connection system.The contract consists of a multi-month preparatory phase as well as the ensuing 5-year maintenance phase, and includes…
13 February 2017
Norway Gives Green Light for Ormen Lange Plant Expansion
The Norwegian Petroleum Directorate (NPD) has granted consent for start-up of the expansion of the gas plant at Nyhamna in Møre og Romsdal County.This should allow the Ormen Lange field in the Norwegian Sea to increase production by 25-30 billion standard cubic meters (Sm3) of gas.The upgrade – also called…
13 February 2017
Lundin Finds Oil in the Filicudi Prospect in the Southern Barents Sea
Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has made an oil and gas discovery in the main well 7219/12-1 and is presently drilling a sidetrack 7219/12-1A on the Filicudi prospect. The wells are located in PL533 approximately 40…
13 February 2017
Weatherford UK Secures UK First with API Q2 Certification
Weatherford International's Secure Drilling Services facility in Aberdeen is the first in the United Kingdom to receive API Q2 certification.API Specification Q2 is the highest quality standard established by the American Petroleum Institute and is recognized as the world’s most advanced certification for oil and gas service providers.To gain certification,…
13 February 2017
Lundin Petroleum Proposes Spin-Off of its Non-Norwegian Producing Assets into an Independent Oil and Gas Company
Lundin Petroleum has announced that its Board of Directors has proposed to spin-off its assets in Malaysia, France and the Netherlands (the 'IPC Assets') into a newly formed company called International Petroleum Corporation ('IPC') and to distribute the IPC shares, on a pro-rata basis, to Lundin Petroleum shareholders.Subsequent to an…
13 February 2017
Nu-Oil & Gas Announces Completion of Due Diligence on EL1070 by G2 Energy
NU-Oil and Gas has announced that further to its announcement on 21 December 2016, regarding the Option Agreement on EL1070, offshore Western Newfoundland with G2 Energy, G2 Energy has successfully completed its due diligence on EL1070. Under the Option Agreement, G2 Energy has an exclusive option to earn 100% of…
13 February 2017
Magellan Petroleum and Tellurian Investments Finalise Merger
Tellurian, formerly known as Magellan Petroleum, has closed its merger with Tellurian Investments Inc. Tellurian's common stock will continue to trade on the NASDAQ under the new ticker symbol 'TELL'. As part of finalizing the merger, Tellurian has appointed Antoine Lafargue as chief financial officer. Mr. Lafargue was previously the…
13 February 2017
Zambia Cancels Five Oil Exploration Licences
Zambia has revoked five oil exploration licences after the companies failed to comply with the rules, mining minister Christopher Yaluma said on Thursday, without naming the firms."We had given out 17 licences and defaulted a few because of non-compliance and not responding to the licence conditions, so now we have…
13 February 2017
CLS Acquires Woods Hole Group
CLS, a French satellite-services specialist, has acquired Woods Hole Group, a company specialized in sustainable and resilient solutions for coastal sciences and engineering, applied ecology, oceanography and measurement systems. By acquiring Woods Hole Group, CLS can now offer complete solutions including field equipment and services, data analysis, modeling, environmental assessment…
13 February 2017
BP Delivers Solid Profit - Set to Pivot "Back to Growth"
The oil major recorded an underlying replacement cost fourth quarter profit of $400 million. Its full year headline profit was $115 million – a substantial increase on 2015’s $6.5 billion loss.BP has also stripped $7 billion out of its costbase since 2014, hitting its savings target a year ahead of…
13 February 2017
Delek Group is set to takeover Ithaca Energy
Ithaca has confirmed that it has entered into definitive support agreement with Delek for a cash takeover.Under the terms, Delek would snap-up all of the issued and to be issued common shares of Ithaca not currently owned by Delek in a $646million deal.The offer implies a total enterprise value of…
9 February 2017
GoM: BHP Billiton approves investment in Mad Dog Phase 2 project
BHP Billiton has announced that the Board has approved expenditure of US$2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico.BHP Billiton holds a 23.9 per cent participating interest in the Mad Dog field. BP, the operator, holds a 60.5…
9 February 2017
Aker Solutions Secures Two Global Engineering Framework Accords from BP
Aker Solutions was awarded two framework agreements to provide concept and front-end engineering (FEED) services for BP globally.The first contract is for feasibility and concept engineering and the second is for FEED services covering the full range of upstream developments. Each agreement is for three years with options to extend…
9 February 2017
Eni Starts Production of the East Hub Development Project, Deep Offshore Angola, Ahead of Schedule
Eni has started production of the East Hub Development Project, in Block 15/06 of the Angolan deep offshore, ahead of development plan estimates and with a time-to-market among the best in the sector.Production is taking place through the Armada Olombendo Floating Production Storage and Offloading (FPSO) vessel, which can generate…
9 February 2017
UK: Sparrows Group to Supply 103 Cranes for the East Anglia ONE Offshore Wind Farm
Aberdeen-based Sparrows Group has signed a contract to supply 103 cranes for installation at ScottishPower Renewables’ 714 megawatt East Anglia ONE offshore wind farm.Located off the coast of Suffolk, the wind farm will be capable of producing enough electricity to power around 500,000 homes and is anticipated to generate first…
9 February 2017
Excelerate Signs LOI with DSME for Seven FSRUs
Excelerate Energy has executed a Letter of Intent (LOI) with Daewoo Shipbuilding and Marine Engineering (DSME) for the delivery of up to seven floating storage and regasification units (FSRUs). The LOI gives Excelerate the ability to order one FSRU in the second quarter 2017. As the world’s largest operator of…
9 February 2017
Polarcus Agrees Terms for 5 1/2 Year Bareboat Charter
Polarcus has announced that one of its Norwegian subsidiaries has entered into a heads of agreement with SCF GEO ('Sovcomflot'), to charter a vessel on bareboat terms with delivery scheduled for March, 2017. The fixed period of the Charter will be 5 1/2 years with options to extend for up…
9 February 2017
£5m Decommissioning Fund Launched
A new £5 million fund will provide opportunities for the supply chain in Scotland to benefit from the decommissioning of North Sea infrastructure.The Decommissioning Challenge Fund (DCF) will support infrastructure upgrades and innovation in salvage and transport methods at Scotland’s ports and harbours. It will also encourage engineering scoping work…
9 February 2017
Peterson Partners with Port Cameron to Develop Gulf of Mexico Port Facility
International energy logistics provider Peterson has signed a teaming partnership agreement with Port Cameron LLC, to develop a state-of-the-art port and supply base facility in the Gulf of Mexico.Peterson will provide logistics consultancy services to support the planning and initial development of Port Cameron, a 500-acre deepwater staging port situated…
9 February 2017
Veripos to Keep Providing Positioning Services to Subsea 7 fleet
Veripos has signed a contract extension for high-precision positioning services with subsea engineering, construction, and services company, Subsea 7.Veripos, a provider of Global Navigation Satellite Systems (GNSS) positioning services to the offshore oil and gas industry, recently said that the multi-year extension is a continuation of its existing positioning services…
9 February 2017
DOF Boosts Fleet with Two Olympic Vessels
An undisclosed Norwegian limited company has signed an agreement with Olympic Shipping for the purchase of two vessels, Olympic Commander and Olympic Hera.Further to the purchase, the new owner company has entered into an agreement with DOF for management and operation of the two vessels, whereby DOF has an option…
9 February 2017
Shell Submits Decommissioning Plan for Brent Oil Field
Royal Dutch Shell PLC on Wednesday submitted a comprehensive decommissioning programme covering the planned retirement of the famous Brent oil and gas field in the North Sea to the UK's Department for Business, Energy & Industrial Strategy.Lying north of the Shetland Islands, the Brent field has been a cornerstone of…