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North Sea

Tidewater Sells North Sea Boats

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.


Rowan Wins North Sea Contract

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


Sharp Rise Seen in North Sea Decommissioning

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 Selects Offshore Automation Contractor of Choice

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


UK North Sea Gas Discovery 'Significant' Say E&P

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


Divorce Costs Could Sour Scotland's North Sea Hopes

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


WesternGeco Awarded Contract

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


North Sea Output Reduced 70,000 bpd

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.


Rowan Extends North Sea Contract for Gorilla VII

Rowan Companies, Inc. has entered into a one-year extension of its drilling contract for the Rowan Gorilla VII in the North Sea. Gorilla VII is currently working offshore Denmark under a one-year term contract that contained an option for a second year. By the exercise of the option, the rig's commitment is now extended to August 2007. The extension will generate additional drilling revenues of approximately $93 million.


North Sea Unions Call for Better Lifeboats

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.


North Sea: Potential VLCC Moves to South Korea

North Sea Forties crude differentials were unchanged on Wednesday in very quiet pre-Easter trade, with dealers still watching two potential VLCC shipments to Asia and the stuttering return of Libyan oil supplies. A strong early rally in flat-price Brent futures also kept traders on the sidelines


Otto Marine's Financial Health on the Mend

Michael See Kian Heng: Photo Otto Marine

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.0 million in year 2013, an increase of 36.8% over US$374.4 million in 2012


North Sea Crude-Forties eases, VLCC options narrow

Forties trades at parity with dated Brent; Competing Libyan barrels returning to market. Refining margins under pressure as capacity ramps up. North Sea Forties crude differentials eased on Thursday as the market remained sluggish ahead of the long Easter weekend and the window of opportunity


McDermott Signs Agreement for North Sea Spoolbase

© McDermott International

McDermott International, Inc. announced that one of its subsidiaries has signed an option agreement with PD Ports which gives it the exclusive right to operate a spoolbase to serve projects in the North Sea. McDermott expects to have the facility available for projects in early 2015.


W.Africa Crude-Traders on Sidelines

West African oil differentials were unchanged on Friday, with traders on the sidelines as they assessed the impact of lower North Sea supply and awaited a clearer outlook for Libyan exports.     The supply of North Sea crude that underpins the Brent benchmark will average 774


North Sea Crude: Forties Stronger, May Supplies Down

North Sea Forties crude differentials rose for a third day on Friday as the May loading schedule showed a drop in supplies from this month. The supply of North Sea crude that underpins the Brent benchmark will average 774,000 barrels per day (bpd) in May


OMV: New Gudrun North Sea Platform on Stream

Austrian energy group OMV and its partners have started oil and gas production on the Gudrun platform in the Norwegian North Sea, OMV said on Monday. The company said Gudrun was expected to produce in a range of 35 million to 45 million barrels of oil equivalent for OMV


USCG Rescues Three from Burning Boat

The Coast Guard rescued three people from the water after their boat caught fire near Shinnecock, N.Y. The fire engulfed the 36-foot cabin cruiser and the three people abandoned the vessel into the water to swim to their deployed life raft. (U.S. Coast Guard photo by Adam Long)

The U.S. Coast Guard said it rescued three people from the water after their boat caught fire near Shinnecock, N.Y., Sunday. A good samaritan contacted the communications center at Coast Guard Sector Long Island Sound reporting a vessel on fire near the Shinnecock Inlet


Songa Offshore expects to secure financing for remaining rigs

Norwegian oil driller Songa Offshore is confident it can raise the debt it needs in order to pay for the last two rig newbuilds it has ordered, Chief Executive Bjoernar Iversen told Reuters on Tuesday. The two units have a combined price of just over $1


EBDG Engineer among Missing in Mudslide

Steve Harris (Photo: EBDG)

Elliott Bay Design Group (EBDG) said in announcement today that engineer Steve Harris is among those missing in the recent Oso disaster. Although he has not yet been found, the level of devastation wrought by the mudslide in Snohomish County makes it unlikely that authorities will locate survivors


Britain Warns Scots: Independence would Hurt Energy Industry

Britain on Tuesday warned Scots that voting for independence would put jobs and investment in the Scottish energy industry at risk, threatening the commercial viability of North Sea oil and gas fields and renewable energy projects. In September Scotland will hold an referendum on whether to


North Sea Crude-Forties up on Lower May Supplies

North Sea Forties crude differentials rose on Wednesday as traders pointed to lower supplies in May, and rumours of possible shipments to South Korea. The May loading programme is down 13 percent month-on-month, offering support to prices


North Sea Forties Up, VLCC at Hound Point

North Sea Forties crude differentials edged higher in quiet trade on Thursday as dealers eyed a potential VLCC shipment to South Korea and lower supplies next month. The BW Utah VLCC has docked near to the Hound Point loading terminal at the mouth of the Firth of Forth, ship tracking data showed


New Oil Tanker Series RS Classed

Two river-sea oil tankers of project RST 22M are to be built to the Russian Maritime Register of Shipping (RS) class. A relevant agreement is signed by RS with Armada Shipyard that will construct the ships for the Palmali Group of Companies. At present


North Sea Traders Eye VLCCs to Asia, Libya Caps

Fawley refinery (photo courtesy Exxon Mobil)

North Sea Forties crude differentials firmed on Tuesday as traders eyed two potential VLCC shipments to Asia, though gains were capped as the first cargo of Libyan crude was set to load since a deal with rebels to reopen ports. Traders have been watching the progress of two VLCCs - the BW Utah


 
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