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Offshore Pay

Major Shallow Water Oil and Gas Find

Sperry-Sun, a Division of Dresser Industries, Inc., participated in drilling a significant crude oil and natural gas discovery in Anadarko Petroleum Corp.'s subsalt exploration program. This discovery - called Tanzanite - is located in the Gulf of Mexico at Eugene Island South Addition Block 346 in 314 feet of water about 75 miles offshore Louisiana. Anadarko believes the Tanzanite field contains at least 140 million boe. Sperry-Sun provided pressure-while-drilling (PWD) services from 11,000 ft. MD to TVD of 14,350 ft. in drilling the exploration well (the OCS-G 14482 No. 1) and provided full "triple combo" services from 11,800 ft. MD to 13,643 MD. In this latter portion of the well, 450 ft. of continuous hydrocarbon pay were encountered; three additional pay zones totaling approximately 70 ft. of net pay are also present in the wellbore. Sperry-Sun's triple combo services provided the log of record for the hole.


Hornbeck Completes Sea Mar Fleet Acquisition

Hornbeck Offshore Services, Inc., has completed its previously announced acquisition of 20 offshore supply vessels (OSVs) and their related business from certain affiliates of Nabors Industries Ltd. for cash consideration of $186m, plus the cost of the fuel inventory on such vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The company also acquired one 285-ft


DOI Signs Agreement on 1998/1999 Lease

s ssistant Secretary of Land and Minerals Management, C. Stephen Allred signed agreements with BP, ConocoPhillips, Marathon Oil Company, Shell, and Walter Oil and Gas Corporation, addressing deepwater Gulf of Mexico offshore oil and gas leases issued in 1998 and 1999. Under the agreements these companies will pay royalties on oil and gas produced under leases issued in 1998-1999. Revenue will be received for products starting from October 1, 2006 onward.


NOIA Applauds Passage of HR 1230

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Washington, D.C. – The National Ocean Industries Association (NOIA) congratulates the U.S. House of Representatives for the bipartisan passage today of H.R. 1230, “Restarting American Offshore Leasing Now Act.”  If enacted by the full Congress and signed into law by the President, the bill requires that federal offshore lease sales that have been delayed start up again in the Gulf of Mexico and off the east coast of the United States.


Centrica, Dong Form Wind-Farm Venture for Irish Sea Projects

Centrica Plc. and Dong Energy A/S said that they had formed a joint venture to develop offshore wind farms in the Round 3 Irish Sea Zone. Dong Energy will pay Centrica as much as 40 million pounds in cash for a 50 percent interest in the venture, according to a regulatory statement today. (Bloomberg)  


Swissco Enters Offshore Rig Charter Business

Swissco Group expanding upstream into the offshore rig chartering business with the acquisition of Scott and English Energy. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in their exploration and production (E&P) activities. Operational synergies expected with the acquisition, providing Swissco Group with a diversified earnings base with stable, recurring income


Tax Moves Hurt UK Seafarers

Accountant Moore Stephens says changes to National Insurance rules for UK companies employing British seafarers announced last week may threaten British jobs. Shipping tax partner, Philip Parr, says, "From October 6, 2003, shipping companies using British resident seafarers and which operate mainly in UK waters face a payroll cost increase of 13 per cent, and increased costs of administration." On April 23, 2003 the Paymaster General announced that with effect from


Pelosi: Case Needed for Offshore Drilling

House Speaker Nancy Pelosi said that expanded oil drilling in federal waters could be included in a broader energy bill if advocates can prove its effectiveness as a solution to 's energy problems. In a television interview yesterday, Pelosi said the oil industry and its allies in Congress also would have to agree to pay royalties on oil profits to fund the development of renewable energy resources. The California Democrat


Strategic Marine Sells Two Crewboats

Two more aluminum crew boats being constructed “on spec” by Australian shipbuilder Strategic Marine have been sold, indicating the company’s calculated decision to meet rising demand for offshore vessels in international shipping markets is paying dividends. The new order from Malaysian offshore servicing company Dinastia Jati Sdn Bhd, is for two 40m utility vessels which will be built at Strategic Marine’s yard.


Offshore Oil-Production Royalties to Rise Under New Budget

According to a Feb. 14 report from Bloomberg, Royalties paid to the U.S. by oil and gas companies for offshore production are forecast to increase 68 percent under President Barack Obama’s 2012 budget. Receipts will reach $5.97 billion in the year that starts Oct. 1, from $3.56 billion in 2010. Obama also is proposing $25 million in fees from energy companies that hold nonproducing oil and gas leases, part of the administration’s effort to provide taxpayers with higher revenue from


Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.   Now, with oil prices down by half since June


Severn Provider Ready for Offshore Markets

Photos courtesy of Severn Offshore

The naming ceremony took place today for Severn Offshore Services Ltd.’s new multipurpose wind farm vessel, Severn Provider, built at Damen Shipyards Gorinchem in the Netherlands. Following sea trials next week, the Damen FCS 2610 will be available for charter based out of Rotterdam.


Heerema Signs LOI with Jurong Shipyard for Giant Crane Vessel

Heerema Marine Contractors: Heerema Group

Dutch offshore contractor Heerema Offshore Services has signed a letter of intent (LOI) with Sembcorp Marine’s Jurong Shipyard in Singapore for the construction of the world’s largest semi-submersible crane vessel (NSCV).  


MacGregor Appoints Høyesen as VP

Høye Høyesen as Vice President, Offshore Mooring and Loading Division

MacGregor reorganized into seven operative divisions in the beginning of 2015 to improve customer focus.   Offshore Mooring and Loading Division drives the development of Systems and Equipment for Offshore Floating Units. MacGregor appoints Høye G


EU Regulators Order Cosco to Pay for Greek Benefits

Image: Piraeus Container Terminal (PCT)

 European Union state aid regulators have ordered Greece to recover certain illegal fiscal benefits granted to Piraeus Container Terminal (PCT) and its parent company Cosco Pacific Ltd, says a report in Reuters.   The European Commission found that Greece inappropriately granted tax


Denmark's Promising Future

Photo: Maersk

One of the world’s leading seafaring nations, Denmark has maritime roots stretching back more than 1,000 years. While its history is strong, the Danish market has its collective eyes squarely on the future. In its quest for continued relevance


BOEM Issues Offshore Wind Energy Research Lease

 BOEM issues first wind energy research lease in Federal offshore waters   The U.S. Bureau of Ocean Energy Management (BOEM) has executed a wind energy research lease with the Commonwealth of Virginia’s Department of Mines, Minerals and Energy (DMME), BOEM announced today.


IMO, El Salvador Enter Technical Cooperation

Photo: IMO

A new agreement on supporting the Republic of El Salvador to implement International Maritime Organization (IMO) treaties was signed in San Salvador on Monday, March 23.   IMO Secretary-General Koji Sekimizu, who is on a visit to central America


Lloyd's Launches 2015 Container Certification Scheme

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  Lloyd’s Register launched its 2015 Container Certification Scheme today to give a clear and concise set of rules to ensure offshore and onshore containers are safe and certified correctly.       Aimed at both manufacturers and operators of equipment in the


Bibby Offshore Secures Contract with MGTC

Photo courtesy of Bibby Offshore

Bibby Offshore announced today that its Asian Division, Bibby Offshore Singapore (‘BOS’), has secured a contract with the Moattama Gas Transportation Company (“MGTC”). MGTC, a joint venture between Total (operator), Unocal, PTT-EP and Myanmar Oil and Gas Enterprise


Rosneft Cancels Rig Contract

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  Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said. Western sanctions against Russia, and Rosneft in particular


Using AIS Data to Assess Collision Risks

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Automatic Identification System (AIS) data is now being used to determine the collision risk for offshore installations. MARIN helps oil companies with risk assessments for offshore installations by calculating the probability of a ship collision with the offshore installation


Swire Pacific Offshore Acquires 2 Newbuildings

Joint Naming ceremony of Pacific Centurion & Pacific Goldfinch

  Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming of two new vessels, Pacific Centurion, an Anchor Handling Tug Supply (AHTS) vessel, and Pacific Goldfinch, a Platform Supply Vessel (PSV) at the dual vessel naming ceremony held on Tuesday


K-Line Executive Pleads Guilty to Price Fixing

An executive of Japan-based Kawasaki Kisen Kaisha Ltd. (K-Line) was sentenced to 18 months in a U.S. prison after pleading guilty to his involvement in a conspiracy to fix prices, allocate customers and rig bids of international ocean shipping services for roll-on


Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.   An existing law stipulates that only state energy majors Rosneft and Gazprom






 
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