Australia-based Buccaneer Energy sees its 'Endeavour – Spirit of Independence' en route to Cook Inlet, Alaska. Buccaneer says it jack-up rig has been loaded on to the heavy lift vessel Kang Sheng Kou bound to drill for fossil fuels in waters off the coast of Alaska. The delivery of the Endeavour jack-up rig to the Cook Inlet will complete the first phase of Buccaneer’s business plan started almost 2 years ago. That plan included the acquisition of the Endeavour and the modification and repairs in Keppel FEL shipyard, which was managed by Buccaneer’s internal management team. The Endeavour project was funded through a joint venture company Kenai Offshore Ventures, LLC (“KOV”). With Buccaneer in the joint venture are Singapore listed Ezion Holdings Limited, that specializes in the development, ownership and chartering of strategic offshore assets and the provision of offshore marine logistics and support services to the offshore oil and gas industries, and the Alaska Industrial Development and Export Authority (“AIDEA”). AIDEA will be investing a total of US$23.65-million into KOV on completion of the mobilization phase. “We are very excited to finally have the Endeavour on its way to the Cook Inlet,” said Jim Watt, President of Buccaneer Alaska
The Cuban government is reportedly offering 59 offshore oil blocks for joint venture projects with foreign companies as part of its bid to develop the local hydrocarbon industry and remedy national fuel shortages.
Golar LNG Limited signed a share purchase agreement with OLT Energy Toscana SpA in November 2006 for the acquisition of 20% of shares in OLT Offshore LNG Toscana SpA (OLT-O). The purpose of the joint venture company OLT-O is the construction of the Livorno offshore LNG import and regasification terminal, which will be located approximately 20 kilometers off the coast. Source: CCN
Keppel Shipyard Limited has delivered the floating production storage and offloading vessel (FPSO) Espirito Santo to SBM Offshore. The vessel has left Singapore for deployment in the Espirito Santo field in offshore Brazil. The FPSO is capable of processing 100,000 barrels of oil per day (bopd) with a maximum storage capacity of two million barrels of oil. It will be leased to the BC-10 Joint Venture, which is operated by Shell with ONGC Campos Ltda. and Petróleo Brasilieiro S.A
Tidewater Inc. announced today the following update with respect to its negotiations with Sonangol, the national oil company of Angola, regarding Sonatide, the joint venture between Sonangol and Tidewater through which Tidewater markets its boat services to energy companies for operation in the waters offshore Angola. Tidewater has a 49% ownership interest in Sonatide. The Company has previously announced that its Sonatide joint venture agreement with Sonangol expires on March 31
AMEC forms a joint venture with Samsung Heavy Industries & Samsung Engineering to serve the offshore energy sector. AMEC will carry out design engineering for fixed and floating offshore platforms, FPSOs and subsea pipelines for Samsung’s future offshore oil and gas projects. The joint venture, which is subject to final regulatory approvals, has been named AMEC Samsung Oil and Gas LLC (ASOG). It is 51 per cent-owned by Samsung and 49 per cent by AMEC and will be based in
Oceaneering International, Inc. announced that its Norwegian subsidiary, Oceaneering AS, has entered into a joint venture agreement with Det Norske Veritas (DNV) to provide a new inspection service capability to the offshore oil and gas, shipping, and other vessel-related markets utilizing a unique combination of Remotely Operated Vehicles (ROV) and Resonance Thickness Measurement (RTM) technology. The 50/50 joint venture company, Argus RTM AS, will be headquartered in Stavanger, Norway
Portuguese energy group EDP and US partner Principle Power appy for EU funding to build a 25MW-plus pre-commercial offshore array According to a 'Recharge' report, the trial-run WindFloat 1 (WF1) has flowed more than 1.7GWh of energy since being moored in the Atlantic in 43 metres of water, 5km off Aguçadoura, near Póvoa de Varzim, northern Portugal, last autumn. The 1,200-tonne floating concept, fitted with a single Vestas V80-2
The intitiative is aimed to provide new opportunities for finance professionals and capital hungry maritime companies from around the world. To highlight more of the maritime value chain at its leading maritime event week, Nor-Shipping will enable copmanies to pair up, network and showcase themselves. The initiative includes “Venture Park” and “Venture Forum”. Venture Park Venture Park will provide 12 start-up companies with a platform for testing the market and
Al Khalij Commercial Bank (al khaliji) QSC has provided financing for the two Nakilat shipyard joint ventures: Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ) for US $120m and US $40m respectively. Nakilat is a Qatari marine transport company providing the essential transportation link in the State of Qatar’s LNG supply chain. The company says its LNG shipping fleet is the largest in the world, comprising 56 LNG vessels
Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence. Over the next few months, OMS will work with ISA to finalise the terms of contract for the award of the licence
Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts worth US110 million to Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard between Nakilat and Singapore’s
Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine
On July 24 this year, research vessel Geolog Dmitry Nalivkin sailed from Kirkenes (Norway) to the Kara Sea. In the next three months 2D seismic survey, will be carried out in the three Vostochno-Prinovozemelsky licenses. The field work will be conducted in the surface area that totals
Halliburton has signed an agreement with the SPT Energy Group Inc. affiliate, Petrotech (Xinjiang) Engineering Co., Ltd., to establish a joint venture company focused on hydraulic fracturing and production enhancement services in Xinjiang, China.
Viking Offshore & Marine Limited (Viking) which is building a portfolio of mainstream offshore, marine and drilling assets, said today that it has secured a 50-month bareboat charter for a land rig system worth approximately US $32 million.
A joint venture of five industrial auction companies will sell the physical assets of the 300-acre McDermott fabrication facility in Amelia, La. McDermott continues to operate its other fabrication facilities at multiple locations worldwide.
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2
U.S. sanctions on Russia include Rosneft, Exxon's partner: Project may not break sanctions, but brings political risks. An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise
An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for Exxon Mobil Corp. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business. Through the agreement, CSSC will own 70% of the business through its affiliate CSSC Investment
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co
Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard established by Nakilat and Singapore’s Keppel Offshore & Marine (Keppel O&M), has secured a contract worth $19 million (69 million Qatari Riyals) to design and construct a floating jetty for Qatar Primary
Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design company MarinTeknikk’s MT 6015 MPSV design and will be outfitted with a crane, helideck and FiFi II