Rowan Companies won a term drilling contract for use of the Rowan Gorilla VII in the North Sea commencing in August 2005. The contract provides for a one-year term with a minimum work commitment of nine months, and includes an option for a second year. Rowan estimates that contract revenues, based on a one-year term, will be approximately $65 million. As previously reported, Gorilla VII is currently carrying out decommissioning activities on the Ardmore Field in the North Sea which the Company expects to conclude during July.
Tidewater Inc. will sell its North Sea safety-standby boats to BUE Marine Limited of Edinburgh, Scotland. The $40 million all-cash deal is expected to close by late June. The 28 safety-standby boats were obtained by Tidewater as part of earlier acquisitions. This type of rescue vessel is required for oil and gas entities operating in the North Sea.
Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. Although the cuts are relatively small for companies with dozens of thousands of employees, they come at a politically sensitive time in Britain as the Scottish independence debate continues and a May parliamentary election looms.
BP Exploration selects Emerson Process Management as automation contractor of choice for North Sea oil & gas operations Emerson will be BP’s preferred supplier of integrated control and safety systems for five offshore fields in the U.K. continental shelf, including the new Clair Ridge platforms and the Quad 204 floating production, storage and offloading vessel. Emerson’s selection as contractor of choice builds on an earlier agreement in which the company was named a Main
Decom North Sea (DNS), the organization which represents the North Sea’s oil and gas decommissioning industry, has welcomed changes in the budget which will boost the sector, leading to new jobs and investment in new equipment. With annual decommissioning expenditure in the North Sea forecast to top £1billion within a few years and a total of about £35billion due to be spent over the next 20 to 30 years, DNS had called for the budget to provide long-term certainty
E.ON Exploration & Production's (E&P) Tolmount gas discovery in the UK North Sea could contain significantly higher volumes than originally estimated, making it one of the largest discoveries made in this part of the North Sea for several years. The recently completed appraisal well reached its targets within time and budget on 6th July. A 855 m side-track was completed on 30th July, 2013. "This successful discovery in UK is an important step for our growing upstream
By Karolin Schaps, Reuters Scottish nationalists are betting $2.5 trillion of hydrocarbons trapped miles beneath the North Sea could bankroll an independent Scotland, but winning control of the European Union's largest oil reserves would be no blank cheque. Scotland says the bulk of Britain's North Sea oil and gas reserves are in its waters, while London says any division would be subject to negotiations should Scots vote to end their 307-year-old union with England in a referendum on
Transocean Ltd. says that it intends to pursue the creation of an entity comprising 8 of its UK North Sea midwater drilling rigs. The new entity, Caledonia Offshore Drilling Company (Caledonia) is expected to be established during the second half of 2014. The offshore drilling assets currently contemplated for transfer to Caledonia include the following rigs: Sedco 704, Sedco 711, Sedco 712, Sedco 714, Transocean John Shaw, Transocean Prospect, GSF Arctic III and J.W. McLean.
ExxonMobil Exploration has awarded WesternGeco a multiproject Q-Marine contract to cover three ExxonMobil assets in West Africa, the Gulf of Mexico, and the North Sea. Q is the WesternGeco proprietary suite of advanced seismic technologies for enhanced reservoir location, description, and management. The surveys will be conducted by the Geco Topaz and the Western Neptune, two of the four WesternGeco Q-Technology vessels
Royal Dutch/Shell is said to have cut its North Sea oil output by 70,000 bpd after lightning cut power to a natural gas plant.
Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said. The leak occurred at 0630 GMT during the loading of oil to a tanker from the Statfjord A platform via a
A yacht has gone adrift in the North Sea after losing steering in difficult weather conditions, reports the U.K. Maritime and Coastguard Agency (MCA). One man is believed to be aboard the yacht which was making its way from Lerwick to Norway when it encountered difficulties around 8:50 p.m
The 2002-built, 8,850-dwt freighter Flinterstar is owned by Dutch shipping firm Flinter has sank after colliding nearly head on with the Marshall Islands-flagged LNG carrier Al-Oraiq in the North Sea off Belgium on Tuesday morning.
MODEC awarded contract to provide FSO for Maersk Oil's Culzean Field Maersk Oil North Sea UK limited has contracted MODEC, Inc. to supply a floating storage and offloading (FSO) vessel for the Culzean development project in the U.K. Central North Sea.
The vital role that the River Thames plays in the economy, the movement of freight and the transport of passengers – and also in the wellbeing of the capital’s residents – has been made clear in two new reports launched by the Port of London Authority (PLA) this week during
Specialist marine risk assessment company MatthewsDaniel has launched an enhanced Approved Vessel Archive (AVA) service for offshore support vessels and their operators. The AVA provides vessel owners with an accessible certificate that can be presented to prospective customers
Leading classification society Bureau Veritas has opened a Verification Academy which will help it to meet increasing demand for verification in the EU and globally and to cement its leadership in verification. The Aberdeen-based academy trains both BV staff and clients in implementing
Petroleum tanker owner and operator AET today named its newest vessel, a 120,000 DWT DP2 shuttle tanker, Eagle Bergen. Eagle Bergen is the second of two vessels built by Samsung Heavy Industries to the standards required to operate on the Norwegian continental shelf
3Si Group, whose global portfolio of marine safety products and services covers commercial, leisure and military markets, has announced the formation of 3Si Offshore, a division that will specifically focus on the North Sea offshore sector.
Shipbuilder CTruk Boats, a manufacturer of composite wind farm support vessels (WFSV), has delivered the second workboat in a two-craft order from CWind. The MPC22 WFSV CWind Spirit was officially named at a ceremony in Ipswich and is the latest addition to a stable of nearly 30 WFSVs
Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea. The ultra-high pressure, high temperature field
Singapore's offshore services provider Sembcorp Marine has won an engineering, procurement and construction (EPC) contract worth over USD1 billion for the Culzean field development project in the North Sea. Sembcorp Marine subsidiary SMOE construction contract will cover the
International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO, to discuss his vision for the future and how Harkand aims to achieve its goal of being the leading subsea IRM and
Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards. The demand is expected to remain elevated with spot voyages generating around 940 bln ton-miles per quarter, on average, during 2016 – around 1
Recovering stock markets boost oil prices; U.S. crude on track for first weekly gain in nine weeks. Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong U.S. economic growth and news of low crude supplies from Nigeria.