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Major Oil

UK Oil Firm Charters Two NAO Vessels

Nordic American Offshore Ltd (NAO) has entered into two new contracts with a major oil company in the U.K. for one year with a one year option. This will secure employment for two NAO vessels up to the end of 2015


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


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


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


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’


Early Contract Termination for Loke Viking

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As previously communicated, Viking Supply Ships has entered into an agreement with a major oil company for the charter of four AHTS vessels. The contract applies to the drilling seasons 2014 and 2015, with options for the drilling seasons 2016 and 2017. The drilling season is expected to commence around May each year. Viking Supply Ships has received an early termination for AHTS vessel Loke Viking, which applies for the 2015 drilling season


MN 100: Baker Marine Solutions, LLC

Baker 1.jpg

The Company: Baker Marine Solutions (BMS) is an industry leader providing marine assurance and consulting services, performing DP assurance, OCIMF- OVID inspections, IMCA CMID inspections, and marine warranty surveys as well as on board marine representation, and project/vessel management services. BMS has provided analysis for most major oil companies, on some of the largest most sophisticated offshore vessels operating in the industry today


Changing Spill Risk in a Changing Arctic Landscape

Dagmar Schmidt Etkin

Industry analyst and environmental consultant Dagmar Schmidt Etkin, PhD, takes a hard look at a rapidly shifting operational landscape in the Arctic. Always an honest broker of information, Etkin tells it like it is.    Oil spill risk is present anywhere that oil is present in


Strengthening Oil Spill Response in Southeast Asia

Photo:  International Maritime Organization (IMO)

 Training for oil pollution preparedness, response and cooperation (OPRC) is underway in Jeju Island, Republic of Korea (7-11 November).    On completion of the course, Government officials from seven Southeast Asian countries  (Cambodia, Indonesia, Malaysia, Myanmar


Oil Prices Soar 4%

Oil prices jumped 4 percent on Tuesday, bouncing back from multi-month lows on expectations that OPEC will agree later this month to cut production to reduce a supply glut. Saudi Energy Minister Khalid al-Falih is expected to travel to the Qatari capital, Doha


Restrata, Agility Partnership in Training at REP, Iraq

Will Follett Photo Restrata

Restrata, a global leader in consultancy and training services, has partnered with leading logistics provider Agility to offer specialised training for oil and gas sector employees at the Rumaila Energy Park (REP) in southern Iraq. The REP's new training centre will offer a wide range of


Salvage & Wreck Removal Conference Presents an Upbeat Mood

Salvage & Wreck Removal Conference Session in progress Photo JRF

The verdict at the 5th India Marine Salvage and Wreck Removal Conference of Hinode held this time in Mumbai last week was clear and unanimous. The presentations as well as the deliberations highlighted an upbeat atmosphere indicating the growing prospects for salvors on the India’s 7516 KM


Fire at Prelude LNG Construction Site in South Korea

Happier Times: In May 2013 the price per barrel of oil was more than $100 and Shell ha laid the keel for Prelude FLNG, the world’s first floating liquefied natural gas (FLNG) project. (Courtesy of  Royal Dutch Shell)

Shell said a small fire occurred at the construction site in South Korea for its huge floating Prelude liquefied natural gas (LNG) project, with work resuming immediately and an investigation underway.   The incident would not have an impact on the delivery schedule


Turkey’s Role for the Tanker Market

Map and Graph: Poten and Partners

 Even though the coup attempt in Turkey  failed and the transportation situation normalized quickly thereafter, Poten & Partners take a look at the importance of Turkey to the tanker market.   Turkey is not a large oil or gas producer; according to JODI its crude oil


MSRC CEO to Retire in April 2017

Photo courtesy of MSRC

The Marine Spill Response Corporation (MSRC), the nation’s leading oil spill response organization, has announced that Steven T. Benz, the company’s President and CEO, will be retiring on April 30, 2017.   Tim Plummer, Chair of the MSRC Board of Directors


Argentina Reworks LNG Import Deals

Argentina is diverting or cancelling incoming shipments of liquefied natural gas (LNG) after mild late winter temperatures curbed fuel demand and forced state-run buyer Enarsa to rework some deals.   South America's biggest LNG importer launched back-to-back tenders in June and July after a


Libyan Commander's Seizure of Oil Ports Risks New Conflict

Libyan forces loyal to eastern commander Khalifa Haftar said on Monday they had tightened their control over four major oil ports, casting a Western-backed project to unite Libya and revive oil exports into deep uncertainty.   Haftar's forces met little resistance as they seized the


Libyan Oil Port Takeover Gives Edge to Eastern Commander

Less than a fortnight after forces loyal to Khalifa Haftar swept into four of Libya's oil ports, tankers are loading, production has jumped, and momentum has shifted firmly in the divisive former general's favour.   For Haftar's opponents, and for Western powers


Moody's Threatens Downgrade of Maersk

Photo: Maersk Group

 Denmark-based shipping and oil company A.P. Møller-Mærsk A/S (Maersk)'s decision to split the group into two parts now get the credit rating agency for questioning to the light blue conglomerate's debt. It ends "probably" with a downgrade


MPA Tests Joint Oil Spill Response Procedure

Courtesy MPA

The multi-agency joint oil spill exercise was conducted today as part of an on-going effort to ensure our ports remain safe, secure and clean for the international shipping community. Code-named JOSE 2016, the exercise was organised by the Maritime and Port Authority of Singapore (MPA) as part of


Oil Rises on Record Indian Imports, Hopes of Output Caps

Oil prices edged up on Wednesday, supported by record Indian crude imports and talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market.   Global benchmark oil futures, the Brent and U.S


As Iran Oil Tenders Near, Investors Still in the Dark on Terms

Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about Iranian oil fields and contract terms, hindering investment decisions. Bosses from oil majors including BP, Total, Eni






 
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