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Major Oil

TEN Takes Delivery of Panamax Tanker Aztec

Tsakos Energy Navigation Limited (TEN) has entered into a new medium-term charter arrangement with PMI, the state owned oil company of Mexico. Under the terms of the agreement, TEN has chartered its newly delivered coated double-hulled Panamax, the Aztec, to PMI. The contract is for 30 months at an accretive rate. TEN currently has the Handysize product carrier Libra chartered to PMI until 2005. "We are pleased to furnish PMI with another high-quality vessel to serve their growing production needs," said Nikolas Tsakos, President and CEO of TEN. "TEN is focused on expanding our relationships in this region by building ships that meet our clients' individual requirements and providing superior customer service and support directly to major oil producers like PMI." The Panamax Aztec was delivered on May 29 from Imabari Shipyards in Japan. The vessel immediately entered into a profitable repositioning voyage with a major oil trading concern, and will then commence the time charter with PMI. The Aztec is the third of four new fully coated Panamaxes, and joins its sister ships, the Maya and the Inca, which were both received earlier this year and recently chartered at attractive rates to a major South American oil producer. TEN plans to receive the last of the four Panamaxes, the Andes, in August 2003.


SapuraCrest, Ramunia Awarded Contracts

Two oil and gas players, SapuraCrest Petroleum Bhd and Ramunia Holdings Bhd, announced major contracts related to the industry worth $120 million and $24 million respectively. SapuraCrest said its 51%-owned unit Tioman Drilling Co Sdn Bhd had been awarded a contract from Carigali-Triton Operating Co Sdn Bhd (CTOC) for the provision of two drilling units– Teknik Berkat and a new mobile drilling vessel, known as T-10 – to CTOC.


Wärtsilä Acquires Power and Automation Systems from Aker Kvaerner

Wärtsilä has acquired Aker Kvaerner Power and Automation Systems AS (AKPAS) from Aker Kvaerner. AKPAS supplies power and automation systems for the oil and gas, marine and industrial markets. The company operates mainly in the North Sea region with major oil and gas companies and Norwegian shipyards. AKPAS has annual net sales of EUR 28 million and 135 employees in Stord, Norway. The acquisition price is approximately EUR 12 million.


Wärtsilä Automation in Norway

The Norwegian automation company AKPAS, acquired by Wärtsilä in February, has been renamed Wärtsilä Automation Norway AS. The company becomes part of Wärtsilä from March 1. The company supplements Wärtsilä's product offering in electric propulsion systems, power distribution and automation for the oil & gas and marine sectors. It also strengthens Wärtsilä's capabilities for further development of automation systems.


Norsk Hydro Strikes Oil, Natural Gas Reserves off Norway

Norsk Hydro ASA struck oil and natural gas reserves off the western Norway city of Bergen, reports said. The directorate described the strike as minor though no estimate was given for the size of the find. It said field partners may link the oil and gas reserve to existing production facilities at the nearby Fram field, also operated by Norsk Hydro. The Norwegian government has encouraged oil companies to look for small finds near producing offshore fields to maintain the oil flows that


First Steel Cut for Liftboat ‘Seajacks Hydra’

Photo by Seajacks

A ceremony marked the event at Lamprell’s Hamriyah Dubai facility. The self-elevating, ‘Seajacks Hydra’ has been specifically designed for installation and maintenance services in the offshore wind and oil and gas sectors. The vessel will be equipped with a high speed jacking system, a 400t crane and able to operate in water depths up to 48m. Lamprell Energy has built all three of Seajacks’ current vessels; ‘Kraken’


Jackson Offshore Receives Minority Certification

Lee Jackson, President and CEO of Jackson Offshore LLC, a provider of high specification crewboat services in the U.S. Gulf of Mexico, announced the company’s recent certification as a minority business in the state of Louisiana. Jackson Offshore was formed in part to provide dedicated crewboat services to major oil and offshore service companies wishing to contract with companies involved in the reinvestment and rejuvenation of southern Louisiana and especially New Orleans


TOP Announces Delivery of Sixth in Series of Ten

TOP Tankers Inc, announced that it took delivery of M/T Restless, a 47,084 Dwt, ice-classed, double-hull Handymax tanker, built in 1991 by Halla Engineering & Heavy Industries Limited of the Republic of Korea. As with all the Company's Handymax tankers, the vessel commenced its 2-year profit-sharing employment contract with a major oil trader. The delivery of the M/T Restless represents the sixth of 10 double-hull tankers the Company is acquiring using the proceeds of its initial public


INS is Key Focus at Sonardyne Workshop

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Sonardyne Inc.’s recent ‘Life of Field’ two day workshop was well attended by over 40 industry professionals, ranging from major oil representatives through to vessel Captains.   Held at the 4 Points Sheraton Hotel, Houston, day 1 focused on acoustic positioning techniques whilst day 2 looked at advances in Metrology, Autonomous Monitoring and Inertial Navigation Systems (INS).   With sessions delivered by members of Sonardyne’s Survey Support Group (SSG)


Far East Contract for Icebreaking AHTS 'Tor Viking'

AHTS Tor Viking: Photo VSS

Viking Supply Ships says it has entered into a contract with a major oil company for their AHTS vessel 'Tor Viking'. The charter of the AHTS will be in the Far East region, commencing in June 2014. The duration is for 11 months firm, plus options to extend the contract by 2 x 6 months subject to availability. Viking considers that this contract strengthens its position within harsh environment operations. The value of the firm period of the contract is around US$ 34.5-million.


Greece to Launch Major Oil Quest in July

Greece will invite major oil companies next month to conduct offshore test drillings, the government said on Wednesday, launching the debt-laden country's most ambitious attempt so far to develop its untapped hydrocarbon potential. Athens has made several fruitless attempts over the past


Swire Oilfield Services Plans More SE Asia Investments

Offshore rig worker: File photo

Swire Oilfield Services, global supplier of cargo carrying solutions, modular systems, offshore aviation services and fluid management says it plans to further invest in Southeast Asia with the development of three new operational yards and the arrival of new rental equipment to its fleet.


Exxon Rig Enters Uncharted Waters of Russian Political Storm

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


Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm

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


EMGS - agreement with Nalcor Energy for 3D multi-client EM survey

EMGS Galatea

  EMGS has signed a multi-client license agreement with Nalcor Energy, the Provincial Energy Corporation of Newfoundland and Labrador, for the acquisition of up to 13,500 square kilometers, in a multi-season campaign. The CSEM survey is expected to begin in June of this year and will


Canada Seeks Tightened Marine Oil Spill Plan

Canada moved on Tuesday to strengthen its response plan for oil spills at sea ahead of the development of new pipelines that would sharply increase tanker traffic in Canadian waters if they are built. Among the new measures, the federal government said it would remove a per-incident liability


New Concept Eliminating Crude Oil Spill Spread

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A new method is available which purports to stop the spread of major oil spills in offshore areas. It involves a floating ring-like device called Protection Ring Offshore Environment (PROE) that encircles the drilling rig. It has a curtain suspended vertically from the ring bottom that is designed


Brazil Senate Examining Petrobras Scandal

Photo courtesy Petrobras

Brazil's Senate opened an inquiry on Wednesday into alleged corruption and mismanagement at state-run oil company Petroleo Brasileiro SA, a probe that could complicate President Dilma Rousseff's bid for reelection in October. A panel of senators will look into the costly purchase of a refinery


Canada Revamps Pipeline Safety Rules Ahead Of New Projects

  Canada unveiled new rules on Wednesday to enhance pipeline safety and spill response, ahead of the development of new projects proposed to carry crude from Alberta's oil sands to coastal ports for export. The new legislation will give Canada's energy regulator


Concordia Maritime, P-Max in Charter Deal

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Concordia Maritime has just won a new contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement is for 6 months initially and will run until the end of 2014.


Foss Maritime Celebrates 125th Anniversary

Image courtesy of Foss Maritime

Seattle's Foss Maritime, a company that has evolved from a single rowboat into one of the world's leading marine transportation and harbor services companies, informs that it celebrates its 125th anniversary this year. The company was founded in Tacoma, Washington by Thea Foss in 1889


Congress Maritime Safety Hearing: PortVision CEO Testifies

Dean Rosenberg testifies: Photo PortVision

Maritime industry business intelligence provider PortVision says that its CEO, Dean Rosenberg, testified before the House Subcommittee on Coast Guard and Maritime Transportation. An excerpt of Rosenberg comments on his testimony follows: "Yesterday I was honored to have the opportunity to


Concordia Maritime Charter Out Two Tankships

Image courtesy of Concordia Maritime

Sweden's Concordia Maritime says it has contracted out the 50,000 dwt P-MAX tankers Stena Provence and Stena Polari to a major oil and gas company for 6 months initially to run until the end of 2-14. "We are very proud to have concluded this deal and we are looking forward to continuing to


RSC Bio Solutions Busts Myths Surrounding Readily Biodegradable Fluids

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There’s a lot of conflicting information related to readily biodegradable lubricants and fluids. What’s the real story? The U.S. EPA’s 2013 Vessel General Permit (VGP) requirements are now in place requiring the use of environmentally acceptable lubricants (EALs) in oil to


Viking Supply Ships Charters 'Tor Viking' To Major Oil Firm

  Viking Supply Ships, subsidiary of Rederi AB TransAtlantic a leading Swedish shipping company with headquarters in Gothenburg, Sweden, has entered into a contract with a major oil company for the charter of “Tor Viking” in the Far East region, commencing in June 2014.






 
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