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.
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
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
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
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.
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
Lifeboats on oil and gas installations in the North Sea are not fit for purpose, union leaders claimed yesterday in Aberdeen, according to a report on www.thisisnorthscotland.co.uk. The Offshore Industry Liaison Committee (OILC) reportedly called for a new and safer way of evacuating offshore workers by boat and gave a damning verdict on the two methods currently in use.
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.
BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices. Over the past year, oil majors have been selling assets to protect cash flows and shareholder dividends.
Britain said on Monday it would ban fracking in national parks, reversing a policy announced last year, in a concession to the opposition Labour Party which had called for tighter controls to be written into law. "We have agreed an outright ban on fracking in national parks
Port of Hirtshals in Denmark will receive over EUR1 million a pilot construction of the first liquefied natural gas (LNG) tank and bunker, co-financed by EU’s TEN-T Program. The pilot project will see construction of a 500 cubic meter LNG storage tank and bunkering facility
Denmark's government estimates its budget would lose 7.5 billion Danish crowns ($1.1 billion) if oil prices remained around $50 a barrel, according to a document submitted by the finance minister to a parliamentary committee. That figure, which takes into account the positive financial impact
Norwegian oil and gas producer Statoil is moving some workers off seven North Sea platforms in anticipation of a weekend storm, but production should not be affect, a spokesman said on Friday. "We are partly unmanning the Statfjord B and C, Troll B, Snorre B, Veslefrikk
In a word, Pieter Schelte is BIG. Founded in 1985, Swiss-based Allseas Group S.A. is specialized in offshore pipeline installation and subsea construction. The company employs more than 2,500 people worldwide and operates a fleet of specialized
The ISV Siem Moxie, an Ulstein SX 163 design not only has been deemed a “Great Ship” in our pages, it has also been awarded the “Offshore Renewables Awards 2014” and the “Innovation Awards” by an international panel. The Siem Moxie measures 242 x 55.7 ft
The North Sea needs continued investment from businesses and government through its current period of transition, according to a new report from Deloitte, the business advisory firm. Deloitte’s Petroleum Services Group’s latest North West Europe Review, which details drilling
Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne cargoes are able to compete better on price with U.S. crude.
Glencore, Suncor, ENI, Vitol all booking tankers; U.S. crude oil stocks at highest ever level for time of year. Traders are shipping West African crude to the United States to store the oil until prices recover, as the global glut forces them to source any tanks available and as seaborne
A fleet of offshore vessels operating in the North Sea rely on ZF thrusters Three years ago, North Star Shipping installed ZF thrusters in the Grampion Don, the first in a series of new Emergency Response and Rescue Vessels (ERRVs)
Norwegian Energy Company ASA (Noreco) has agreed to transfer its 30 per cent ownership in PL484 in the Norwegian Sea to North Energy ASA (North). The transfer is subject to government approval. Further, the companies have agreed that Noreco, under certain conditions
Bunkering rose again for the first time since 2011 in Rotterdam, the biggest bunker port of Europe: 10.6 million tonnes compared to 10.4 in 2013. The whole of the increase is accounted for by marine gas oil and diesel; sales rose from 500,000 to almost 700,000 tonnes
Jonas Bjork, commercial manager Maersk Drilling Denmark, a subsidiary of Maersk Group, says that Israel is in his radar in the near future and hinted that his company targets Leviathan contracts, reports Globes. Bjork added that the Israeli government may make things difficult
Jewish groups in the Netherlands and Britain have reacted with rage and despair at the arrival in Rotterdam of the world's biggest ship, the Pieter Schelte, named after a Dutch officer in the Waffen-SS. The Pieter Schelte, which is so big it can lift oil rigs out of the water