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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.

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

NOIA Applauds Passage of HR 1230


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.

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

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.

Purchase Of The Business And Certain Assets Of BMT Marine


Braemar is pleased to announce the purchase of the business and certain assets of BMT Marine and Offshore Surveys Limited (“BMTMOS”) on 6th May 2011 from the Administrator, Deloitte. BMTMOS provides Hull and Machinery, P&I and Marine Warranty survey services around the globe; clients operate primarily in the insurance, shipping and offshore industries. BMTMOS has 94 employees, most of whom are marine surveyors, who operate from 21 offices around the world

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)  

BW Offshore Suspends Dividend

BW Offshore, a builder and operator of ships that can produce and store oil offshore, suspended its dividend until outlook for the oil sector improved, it said on Monday. The firm posted third-quarter earnings before interest, taxes and depreciation and amortisation of $174 million against

Fredriksen's Firms See Diverging Fortunes

Rig firm Seadrill sees tough market continuing in 2016. Firms in Norwegian-born billionaire John Fredriksen's empire saw contrasting fortunes on Tuesday, as rig firm Seadrill booked $1.8 billion in writedowns while tanker firm Frontline turned around its fortunes after years of turmoil.

Greek Shipowners Fiercing Protect Tax Breaks

Shipping minister says current measurement method not effective. On the day he took office as Greece's shipping minister in June 2012, Kostis Moussouroulis received a visit from a 90-year-old shipowner. He still remembers the older man's words: "Don't forget

SSA Welcomes Decision To Extend BEO


  The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption for Liner Shipping Agreements) Order (BEO) for another five years until 31 December 2020

Alabama Announces $20 Million Transocean Settlement

Governor Robert Bentley on Thursday announced that Alabama has agreed to a settlement with Transocean Offshore Deepwater Drilling, Inc., which owned the Deepwater Horizon. Alabama will receive $20 million. “The State of Alabama suffered tremendous environmental and economic losses because

DP World Now Sole Owner of Southampton Box Terminal

Dubai-listed ports operator DP World has became sole owner of the company which operates Southampton container terminal after it bought the remaining 49 percent stake held by Associated British Ports (ABP), the company said on Monday. DP World also said it extended the license agreement for DP

Statoil Green Lights Floating Wind Farm Project

Hywind Scotland illustration (Image: Statoil)

Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers investments of around NOK 2 billion, realizing a 60-70 percent cost reduction per MW from the Hywind

DNV GL Issues RP on Offshore Fiber Ropes

Høvik laboratories-syrobe testing machine-fullscale testing (Photo: DNV GL)

The results of two DNV GL led joint industry projects (JIPs) and a JIP pre-study commissioned by Statoil are now captured in a new Recommended Practice (RP) on offshore fiber ropes. With a system perspective on mooring performance, DNVGL-RP-E305 provides new industry guidance for achieving cost

Aker Shipyard Declares Dividend

Aker Philadelphia Shipyard

  On 4 November 2015, the Board of Directors of Aker Philadelphia Shipyard ASA resolved to pay a dividend to the shareholders of AKPS as of expiry of 10 November 2015, of USD 0.25 per share, in aggregate USD 3,026,975.25. The dividend is classified for accounting purposes as a repayment

VARD Wins Offshore Vessel Order

Vard Holdings Limited, a designer and builder of offshore and specialized vessels, said it has secured a new contract for the design and construction of one offshore vessel for an undisclosed international customer. The new offshore vessel is designed by Vard Design in Ålesund, Norway

NJ Offshore Wind Lease Sale Moves Ahead

Offshore Wind Photo TKPL

  As part of President Obama’s comprehensive Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, the Interior Department’s Bureau of Ocean Energy Management (BOEM) yesterday held the nation’s fifth competitive lease

Port of Rotterdam Attracts Offshore Wind

Photo by The port of Rotterdam

 Up to now, the port of Rotterdam, the largest seaport in Europe, has played a negligible role in the construction of offshore wind farms in Europe. But that is about to change. On Maasvlakte 2, Sif Group and Verbrugge International are building a dedicated offshore terminal and a production

Seacat Services Invests In New Vessels

Offshore energy support vessel operator Seacat Services has placed an order for up to four new vessels with local boat builder South Boats IoW. The DNV-GL class-certified next generation 23- and 27-meter catamarans have been specifically designed to cater for the changing needs of European

Ulstein’s X-BOW Turns 10

subsea vessel  Island Performer (Photo: Ulstein)

While new designs often grab headlines, mature designs that have enjoyed success are perhaps better indicators of true progress in marine technology. When the Ultstein X-Bow made its debut 10 years ago, some scoffed at the unusual design characteristics

P&O Maritime Rebranded Repasa

Vessels from the Repasa fleet in action. Courtesy DP World

  P&O Maritime has announced the rebranding of its joint venture company Repasa, the Spanish operator of offshore support vessels for the energy industry.   P&O Repasa will become the official brand of the joint venture which has expanded its fleet in the offshore towage

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