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Offshore Oil

Coast Guard Announces Interim Rule

The U.S. Coast Guard has published an interim rule that adjusts limits of liability for vessels and deepwater ports under the Oil Pollution Act of 1990. The interim rule, effective July 31, 2009, increases the current OPA 90 limits of liability for vessels and deepwater ports to reflect significant increases in the Consumer Price Index since the limits were amended by the Delaware River Protection Act of 2006. The rule also increases the current OPA 90 limit of liability for the Louisiana Offshore Oil Port to reflect Consumer Price Index increases since the Louisiana Offshore Oil Port limit was established by regulation in 1995.  


Barbados Offshore Oil Bidding to Start Soon

The first round in offshore oil and gas production contract bidding for Barbados is scheduled to start in late June, according to a report on www.nationnews.com. The prospect of rich oil and gas reserves off the island nation have generated high interest among the world’s oil majors, and the government plans to profit first with the sale of seismic data, and second with the awarding of contract for exploration rights.


Russia to Pursue offshore Oil and Gas

According to UPI, Russia's first offshore oil and gas platform, LUN-A, is in operation in the sea of Okhotsk on the Sakhalin Shelf. The platform will be used to drill 27 wells and the produced gas will be transported over a 497-mile pipeline to a liquefied natural gas plant being built in the settlement of Prigorodnoye south of Sakhalin, ITAR-TASS news agency reported. The installation of the LUN-A platform is part of the Sakhalin-2 project run by the Sakhalin Energy international company


Cuba Offers 59 Offshore Oil Blocks In Joint Venture

The Cuban government is reportedly offering 59 offshore oil blocks for joint venture projects with foreign companies as part of its bid to develop the local hydrocarbon industry and remedy national fuel shortages.


China Shipbuilders Ready to Foray into Offshore Engineering

Jiangsu Rongsheng Heavy Industries Group Co Ltd began building CNOOC 201, a deepwater pipe laying and lifting vessel for China National Offshore Oil Corporation in Rugao Port of Nantong City in Jiangsu Province on September 16th 2008. CNOOC Engineering plans to input CNY 15 billion(USD2bn) in construction of a series of deepwater equipment including deep sea drilling vessels, ready to focus on deepwater prospecting, since most of the country's newly discovered oilfields are deep undersea.


Bourbon Orders MacGregor Subsea Crane

MacGregor crane detail on the MPSV Bourbon Evolution 802, multi-purpose supply vessel of the Bourbon Evolution 800 series in Singapore

MacGregor, part of Cargotec, has won an order for a 150-ton active heave-compensated (AHC) subsea crane from leading offshore oil and gas marine services specialist, Bourbon. This builds on a contract that was secured at the end of 2007 from the operator for ten similar cranes. This crane will be delivered in August 2014 and is, as per nine of the previous orders, for a Bourbon Evolution 800 multi-purpose support vessel under construction at Zhejiang Shipyard, in China.


In Katrina’s Wake, Oil Surges Past $70

Hurricane Katrina swept ashore yesterday as a Category 4 hurricane, and has left untold destruction to the Gulf states of Louisian, Mississippi and Alabama. Another effect of the storm could be felt for months to come, as crude oil futures briefly touched above $70 per barrel for the first time, and natural gas futures jumped nearly 20 percent. According to an AP report, the Bush administration is considering releasing some oil from the nation's emergency petroleum stockpile to help


Europe Deliberates Avoidance of a Second 'Deepwater Horizon'

A provisional deal on proposed legislation for the safety of offshore oil and gas operations has been struck by MEPs and Council negotiators. Before oil and gas firms can get a licence to drill, the directive would require them to submit major hazard reports and emergency response plans and prove their ability to remedy any environmental damage caused. "Europe learned its lessons from the Deepwater Horizon catastrophe and wants to reduce the risks of offshore oil and gas drilling to a


Devon Sells Panyu Field to China

Devon Energy Corporation, a U.S.-based oil and gas exploration, development and production company, sold its producing Panyu field located offshore China to China National Offshore Oil Corporation. China National Offshore is a state-owned oil and gas producer in China. In April, Devon Energy said it had agreed to sell its producing Panyu field located offshore China to China National Offshore for $515m. During 2009, Devon's production from the Panyu field was approximately 12 thousand barrels


Kvaerner, COOEC Complete Demo Platform Module

Kvaerner and COOEC have jointly invested in engineering and fabricating of a demonstration module to document the partners' combined capabilities for delivering new offshore oil and gas platforms. After the start of the engineering and procurement in January 2011, the fabrication of the module was completed and presented to business partners at the COOEC fabrication yard in Qingdao in China on 25 August 2011. The two international oil and gas contractors


Kvichak, Vigor Announce Merger

Vigor CEO and owner Frank Foti

Merger positions combined company to play a dominant role in recapitalization of North Pacific fishing fleet and emerging Arctic oil gas operations. Kvichak Marine Industries and Vigor Industrial today announced the companies are merging to unite their strengths in the design and fabrication of


Ferguson Appoints Partner OPS-OES

Simon de Koning (Photo: Ferguson Group)

Ferguson Group Singapore, a specialist in the provision of DNV 2.7-1 / EN12079 offshore containers, reefers, tanks, waste skips, baskets, accommodation and engineering workspace modules has announced the appointment of OPS Oilfield Equipment and Services Ltd (OPS-OES) as the group’s new


LTE Deployment Launched in the Gulf of Mexico

Industrial LTE wireless broadband services provider Infrastructure Networks, Inc. (INET) is deploying a pilot LTE system in the Gulf of Mexico.   INET said its pilot deployment will be used to demonstrate the capabilities of industrial LTE wireless broadband service and coverage when


Maersk May Reward Shareholders as Oil Unit Suffers

Danish conglomerate A.P. Moller-Maersk may announce a second share buyback scheme in its 110-year history as early as Wednesday, analysts said, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices. Further divestments from its large portfolio of companies


NOIA: Don’t Freeze US Opportunity with Arctic Regulations

National Ocean Industries Association (NOIA) President Randall Luthi issued a statement in response to the Obama Administration’s proposed Arctic Regulations on offshore oil and gas production, stating the U.S. must take steps to become a leader in Arctic Energy.  


China’s LNG Terminals Underutilized

Pic: China National Offshore Oil Corp

 According to an Interfax analysis of customs data, China used just over half its LNG regasification capacity in 2014, as tariff hikes and cheaper competing fuels hit gas demand growth.   Slow downstream demand, driven by rising natural gas prices and sluggish GDP growth


BP Bid to Cut Gulf Spill fine Denied

A U.S. judge on Thursday rejected BP Plc's attempt to reduce the maximum civil fine it could face for its role in the 2010 Gulf of Mexico oil spill, leaving it potentially liable to pay $13.7 billion under the federal Clean Water Act. U.S


Maersk, BP Agree to 5 Year Offshore Rig Training Contract

The view into the dome simulator (Photo courtesy of Maersk Training)

Maersk has signed a five year contract with BP to provide offshore oil rig training at the virtual reality training center the company is currently building in Houston, the companies announced today. Maersk Training will provide BP with advanced training programs for offshore drilling teams at


Quay Contract Awarded at Lerwick Port

Multi-user, deep-water extension to service subsea projects and decommissioning.

  Plans for significant further expansion of Lerwick Harbour’s extensive deep-water facilities for the offshore oil and gas industry have advanced with the award of a major contract to extend the quay at Dales Voe South to support subsea developments and decommissioning.


Great Eastern Shipping to Sell Large Cargo Ship

Picture: Great Eastern Shipping Company Ltd

 India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end.  "The vessel will be delivered to the buyers during the fourth quarter (January-March)


Founder Stolt-Nielsen Passes Away

Jacob Stolt-Nielsen

Jacob Stolt-Nielsen, 83, passed away today in the company of his family at his home in Oslo.   An entrepreneur and visionary of boundless enthusiasm and energy, Jacob Stolt-Nielsen founded Parcel Tankers, Inc. in 1959 and pioneered the global trade for liquid chemicals


Havyard Delivers Windmill OSVs to Esvagt

Photo by Esvagt

 Norway's Havyard Ship Technology has delivered the first of three offshore wind service operations vessels to Danish shipping company Esvagt.  The 83.7-metre vessel is the first of its kind to be manufactured by the oil sector specialist and will be deployed under long-term contracts


DOI Issues FSEIS for Chukchi Sea Lease Sale

The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska


Suarez Named VP at Voith Turbo

Javier Suarez (Photo: Voith Turbo)

Voith Turbo announces new vice president Americas for power, oil and gas – marine   Javier Suarez will be Voith Turbo’s new vice president Americas for the power, oil and gas division’s marine group. Suarez will be based at the division’s regional headquarters in


Five Dead, Four Missing in Brazil FPSO Explosion

An explosion aboard a BW Offshore's oil and gas production vessel in Brazil has killed five people and four workers are still missing, the firm said in a statement on Thursday. The floating production storage and offloading vessel, working for Petrobras suffered an explosion on Wednesday






 
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