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Gas Offshore

OSV Sector Wary of Overcrowding

The offshore support vessel (OSV) segment – over-capacity driving down utlilization and charter rates THE offshore support vessel (OSV) segment - touted as the bright spot where other traditional shipping markets are suffering - may entice tanker and bulk-carrier operators to jump ship, according to a recent Singapore Business Times article. However, OSV operators and owners are wary of such a crossover, and warn that if the sector gets more crowded, it may derail a recovery in charter rates that is expected to come about in two to three years' time. There are about 3,000 OSVs that support oil and gas offshore exploration - a sliver of the 70,000 merchant ships - but it is a sector that gained attention at a time when oil companies are expected to spend about US$600 billion in exploration and production activities. It is in an overcapacity situation, which has driven utilisation rates and charter rates down in the past years.


Statoil Finds More Gas Offshore Tanzania

Statoils Tanzania Operations (image courtesy Statoil)

Norway's Statoil has found more gas offshore Tanzania, increasing its total for an eventual investment decision on a liquefaction plant with Britain's BG Group, which operates neighboring exploration blocks, it said on Tuesday. Statoil found another 1.2 trillion cubic feet of gas in its block, taking its total volume in-place to 21 trillion cubic feet, or about 3.8 billion barrels of oil equivalents. BG has also found about 15 trillion cubic feet of gross resources in nearby blocks.


Wärtsilä 2012 Profits Stay Healthy

Björn Rosengren President & CEO of Wärtsilä delivers his year 2012 financial results message to shareholders. Extracts from the message follow: "During 2012, we closed our largest ever acquisition with the purchase of Hamworthy. This acquisition supports our growth strategy in the marine gas, offshore and environmental solutions markets, and Hamworthy has performed well while being integrated to our Ship Power business.


Europort Advanced Technology Conferences

Europort-subbrands-horizontal-red_website.jpg

Shipping’s need to squeeze maximum value out of available assets is finding sharp focus, as the global maritime and offshore industries gather at Europort 2013, Rotterdam (Ahoy Rotterdam, November 5-8). In line with its stated aim to showcase Pioneers in Maritime Technology, Europort has tapped into the maritime industry’s state-of-the-art for 2013. Its Advanced Technology Conferences (ATC), organized by Ahoy in close collaboration with HME


Product Tanker Hijackings

Fig. 1: 	Valle Di Cordoba is generally held to be the first victim of a successful attack against a  	product tanker with the intent to steal the cargo in the Gulf of Guinea in recent years.

Understanding Trends & Tendencies in the Gulf of Guinea Gulf of Guinea piracy presents a radically different picture compared with Somali piracy. Since decades it has been a kaleidoscopic mix of short duration hijackings, militant disruptions, kidnappings, robberies and thefts, depending on the location and the setting. It was not until recently, however, that piracy in the region attracted significant international media attention due to the increase in hijackings of product tankers in


Kværner Deliver Strong Q1 2014 Results

Topside construction: Image credit Kværner

Leading contractor for deliveries of complete upstream oil & gas offshore platforms and onshore plants, Norway's Kværner ASA, reports  operating revenues for the first quarter of 2014 wer NOK 3,489-million which is an increase of 31 percent compared to NOK 2 663 million in first quarter in 2013. The high activity and good utilisation of resources continued in first quarter 2014. The order intake in the first quarter of NOK 1


ExxonMobil Announces Completion of $2-Billion Sable Gas Project

Exxon Mobil Corporation announced the completion of the $2-billion Sable Offshore Energy Project off the coast of Nova Scotia, Canada, with the delivery of the first sales gas into the Maritimes & Northeast Pipeline. The project consists of three offshore platforms, a 125-mile subsea pipeline, natural gas-processing and fractionation plants and a 650-mile gas sales pipeline to New England, and is consistent with ExxonMobil's strategy of increasing gas and liquids production and expanding


Russia Relying on Offshore for Future Production

Sakhalin Island currently is the oil and gas growth engine for Russia, which will rely on offshore regions for new production after 2010, the Oil & Gas Journal reported. By 2020, offshore fields could account for 20% of Russia's total oil and gas output. However, Russia must implement regulations and taxes before its offshore oil and gas assets can be developed since offshore royalty issues remain largely unaddressed


Bill Allowing Offshore Drilling Introduced in Congress

An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil


US Gulf Offshore Energy Tap Being Turned On Again

BSEE Hurricane Response Team monitors offshore oil & gas operators' activities in Gulf of Mexico, post TS 'Isaac'. From operator reports, it is estimated that approximately 71.50 percent of the current daily oil production in the Gulf of Mexico has been shut-in. It is also estimated that approximately 55.62 percent of the current daily natural gas production in the Gulf of Mexico has been shut-in. The Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team


DNV GL bags COSCO's HVDC Converter Platform Deal

DNV GL - Korea - Stoddart, Arthur William  Courtesy DNV GK

DNV GL has been awarded a contract by COSCO Shipping Company Limited (COSCO SHIPPING) of China for the installation engineering services for the BorWin gamma high voltage direct current (HVDC) converter platform. The Dutch-German transmission system operator TenneT is developing the offshore


Israel to Use Seaborne Missiles to Guard Gas Fields

Israel's military said on Wednesday it had developed a version of its Iron Dome missile interceptor system that can be fired from the deck of a cruising navy ship to protect its offshore gas platforms.   The augmented defense system passed a live test two weeks ago when it shot down several


Primeline Turns Against CNOOC

Photo: Primeline Energy Holdings Inc.

 Primeline Energy Holdings Inc. announces that it has sent a letter to China National Offshore Oil Corporation (CNOOC) and CNOOC China Limited (CCL) (together CNOOC Group) giving formal notice of its intention to commence arbitration proceedings against CNOOC Group under the provisions of the


Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply, company officials said on Wednesday.  


ABS Spearheads Offshore Standardization JIP

 ABS Spearheads Offshore Standardization JIP   Classification society ABS convened industry partners at the Offshore Technology Conference on Wednesday, May 4, to sign a memorandum of understanding (MOU) establishing a unified joint industry project (JIP) for standardization


HHIC Seals Deal with Creditors

Subic Shipyard. Photo: Hanjin Heavy Industries & Construction Co

Cash-strapped  South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC)  has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash injection, and will sell off property and businesses worth KRW 2tr ($1


BMT Awarded LNG Engineering For Côte d’Ivoire

BMT to develop LNG import infrastructure in Côte d’Ivoire. Photo source Star Energie

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavor Energy, for the development of the LNG storage and regasification facility as part of the Songon Gas-to-Power Project in Côte d’Ivoire.  


DONG Energy Set for Europe's Biggest Share Float This Year

Photo: DONG Energy

Danish wind farm developer DONG Energy, which analysts value as high as $13 billion, said on Thursday it plans to list its shares on the Copenhagen stock exchange this summer.   Having built more than a quarter of the world's offshore wind farms


Greece to Evaluate Deep-sea O&G Exploration Bids

Greece will conclude the evaluation of deep-sea oil and gas exploration bids in the coming weeks and will name the preferred bidders soon after, its energy minister said on Friday, as the country seeks to tap into its limited oil reserves.  


Denmark, US to Partner on Offshore Wind

Photo: Denmark.dk

Denmark and the United States have signed a memorandum to strengthen cooperation on offshore wind energy projects, the U.S. Bureau of Ocean Energy Management (BOEM) announced.   On May 4, 2016 at the Embassy of Denmark in Washington, D.C


Kim Heng Offshore Inks Pact with Iran Marine

Image: Kim Heng Offshore & Marine

 The Singapore-based  offshore services provider Kim Heng Offshore & Marine has signed a memorandum of understanding with the Iran Marine Fund (IMF)to provide its technical expertise and financing to Iranian offshore marine and oil & gas projects.  


US LNG Shipments Point to Global Gas Price Convergence

Image by East-West Center

 The emergence of US liquefied natural gas as a competitive alternative for European and Asian customers, combined with an oversupplied market, should drive more convergence between natural gas prices at major hubs and weaken the link between gas and oil prices, Fitch Ratings says.  


Trelleborg Trains USCG on Liqufied GasTransport

Trelleborg’s marine systems operation has again supported the U.S. Coast Guard by delivering a third training session in ensuring the safe, secure and clean transportation and use of liquefied gas in U.S. waters. As liquefied gases become a major commodity across the U.S


Gazprom, PetroVietnam Ink Multiple Deals

Nguyen Quoc Khanh and Alexey Miller Photo Gazprom

Alexey Miller, Chairman of the Gazprom Management Committee, and Nguyen Quoc Khanh, Chairman of the Board of Directors of Vietnam Oil and Gas Group (PetroVietnam), signed today in Moscow a number of documents to strengthen cooperation between the companies.


Wartsila's Value of Expediency

The value of expediency Photo Wartsila

Regasifying and storing LNG offshore has allowed customers to import gas without committing to land-based infrastructure. The option also speeds up access to vast amounts of energy. “Wärtsilä focuses on completing the LNG value chain,” says Timo Koponen, Vice President






 
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