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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.


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


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


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


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


ONGC Videsh Wins 3 Exploratiom Blocks in Myanmar

ONGC Videsh Ltd (OVL) has won three offshore exploration blocks in Myanmar. The contracts will be signed between OVL and Myanmar Oil and Gas Enterprise, a Government of Myanmar enterprise. The company succeeded in acquiring 100 per cent participating interests in these three deepwater blocks AD-2, AD-3 and AD-9 in Myanmar offshore. Currently, the total oil and gas production of Myanmar is about 10,000 barrel oil per day (bpd) and 820 million standard cubic feet per day (MMSCFD)


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


Keppel Delivers 4th Jackup Rig to Qatar

Keppel delivers Dukhan jack-up rig to GDI Qatar

  Keppel FELS Limited (Keppel FELS) has delivered its fourth jackup rig, "Dukhan", to Gulf Drilling International Ltd. q.s.c. (GDI) of Qatar nine days ahead of schedule, on budget and with a perfect safety record.   “Dukhan” is a high specification rig built to


Lithuania Inks First Statoil LNG Deal

Lithuania seeks to cut dependence on Russia; Statoil to supply 0.54 bcm of gas per year. This will cover about 20 pct of Lithuania's demand. Lithuania signed its first liquefied natural gas purchase deal with Norway's Statoil on Thursday


Mozambique: $30b Invested for 2018 LNG Export

More than $30 billion will be invested initially in Mozambique's natural gas sector to build capacity to produce 20 million tonnes per year of liquefied natural gas (LNG), with the first exports due to start in 2018, the national oil company said.


Eaton to Exhibit at SMM

Photo: Eaton

Power management company Eaton will demonstrate its expanded ability to deliver electrical, explosion-proof and hydraulic equipment for the marine and offshore industry at the international maritime trade fair SMM 2014 from September 9-12 in Hamburg


Swiber to Fly Mexican Flag on 4 More OSVs

Mexico ensign: File photo CCL

Singapore-based Swiber informs it will hoist the Mexican flag on another four vessels in its fleet, comprising one derrick pipelay barge and three anchor handling tug / supply vessels (AHTs). Five vessels were deployed in Mexico three years ago when Swiber landed its first contract win in Latin


Statoil: Gudrun Officially Opened

Norwegian prime minister Erna Solberg and Statoil CEO Helge Lund were greeted by Gudrun platform manager Ole Martin Bakken. (Photo: Harald Pettersen)

Norwegian prime minister Erna Solberg officially opened the Gudrun platform in the North Sea today, 19 August. This is the first new Statoil-operated platform on the Norwegian continental shelf (NCS) since Kristin in 2005. Gudrun is the first in a long line of new field developments operated by


DBR to Deliver Custom Gas Genset for Platform E17a-A

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DBR Generatorsets is on course to complete construction of a gas engine driven generator set for GDF SUEZ E&P Nederland B.V. in time for installation on the E17a-A platform at the end of the year. Due to space restrictions on the existing platform


SBI Wins Jack-up Design and Engineering Contract

SBI Offshore Limited, which is pursuing higher-value oil and gas engineering projects, said today it has secured a $24 million contract to provide design and engineering services for a jack-up drilling rig that can operate in water depths of up to 110 meters.


BOEM to Open Bids for Gulf of Mexico Lease Sale

The Bureau of Ocean Energy Management (BOEM) Gulf of Mexico Regional Director John Rodi will open the Gulf of Mexico Western Planning Area Lease Sale 238 at 9 a.m. CDT on Wednesday, August 20, 2014 at the Mercedes-Benz Superdome in New Orleans.


Delivery & Naming of Atlantic Offshore´s ERRV – Ocean Marlin

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  On August, 13th the delivery and naming ceremony of our last construction, the ERRV C722- Ocean Marlin - for Atlantic Offshore was performed. The event was held in the Norwegian town of Stavanger, where Mrs. Apeland H. Anni acted as godmother


Pipeline Corrosion Shutters Statoil's Troll C Platform

Statoils TRoll C Platform in the north Sea (photo courtesy Statoil)

Norway's Statoil shut oil and gas production at its Troll C platform in the North Sea after inspections found corrosion damage on a pipeline, the company said in a statement on its website on Wednesday. The platform was shut on Sunday and the repair is expected to take seven days, Statoil said


Drum Cussac Trains O&G Supply Entrepreneurs

Photo courtesy of VETA

Drum Cussac said it is helping Tanzania's budding entrepreneurs cater to the requirements of the international oil and gas companies operating in the country, as part of its own Corporate Social Responsibility (CSR) initiative and a Tanzanian government vocational scheme.


GoM Sale Yields $110m in High Bids

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, today’s Western Gulf of Mexico Lease Sale 238 attracted $109,951,644 million in high bids for 81 tracts covering 433,823 acres on the U.S


High Bids in Western GofM Lease Sale

Offshore rig fronting GoM map: File image

U.S. Government agency BOEM informs that Western Gulf of Mexico Lease Sale 238 attracted US$109,951,644 million in high bids for 81 tracts covering 433,823 acres on the U.S. Outer Continental Shelf offshore Texas. A total of 14 offshore energy companies submitted 93 bids.


Chariot Agrees Brazil Farm Out with AziLat

Barreirinhas Basin

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda., has signed a farm-out agreement with AziLat Limited  through its local subsidiary AziBras






 
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