Marine link

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

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.

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.

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

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

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)  

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

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.

Sailing into the Arctic’s Future

Randall Luthi (Photo: NOIA)

Last month, a large cruise ship completed its inaugural cruise through the Northwest Passage. The historic journey brought nearly 1,700 passengers from Seward, Alaska, past the rugged wilderness and isolated villages of the Arctic, to the concrete jungle of New York City

Olympic Shipping to Get Finance

Photo: Olympic Shipping

 The struggling Norwegian supply vessel shipping firm Olympic Shipping said a consortium of investors is willing to invest about 500 million Norwegian crowns ($61.79 million) in a refinancing of the company, reports Reuters.   Olympic Shipping is one of the shipping companies that are

Euronav Defers VLCC Resale Deliveries into 2017

Euronav NV said it has agreed with Hyundai Heavy Industries (HHI) shipyard in South Korea to defer the delivery of the two VLCC ex-yard resale vessels it recently purchased to the first quarter of 2017.      The vessels, previously expected to be delivered between October and

Euronav Pushes Delivery of Two VLCCs at HHI

Photo Euronav

Euronav NV announces today that it has agreed with Hyundai Heavy Industries (“HHI”) shipyard in South Korea to defer the delivery of the two VLCC ex-yard resale vessels it recently purchased to the first quarter of 2017. Thanks to the excellent relationship that the Company enjoys

Clyde Launches Training Facility

CTS Staff Photo Clyde Training Solutions

Clyde Training Solutions (CTS) opened central Scotland’s first dedicated marine and offshore international training centre.   CTS – a newly established Clyde Group company -  is now offering an extensive range of onsite accredited maritime safety courses to an international

Hanjin Shipping to Lay Off U.S. Staff

Photo: Hanjin Shipping

 South Korean liner carrier Hanjin Shipping has announced job cuts in the U.S., but says the move is not connected to its failure and filing for bankruptcy protection, says a report in Bloomberg.   Hanjin will lay off about 180 members of its 500 person workforce in the United States

Swissco Unable to Make Coupon Payment

Photo: Swissco Holdings

 Singapore-listed offshore firm Swissco Holdings could not pay out a $2.85 million coupon due next Friday and had no plans for its next course of action, says a report in Straits Times.   Bond holders who had each sunk about $250

Palfinger Wins Deck Equipment Package

Illustration of Havyard 832 MPV, where Palfinger Marine will deliver and extensive deck equipment package of cranes, winches and offshore equipment. (Copyright: Palfinger Marine GmbH, Havyard Group)

Palfinger Marine signed a contract with Turkish shipyard Cemre to supply a deck equipment package to a Havyard 832 MPV vessel being built for Esvagt. The package from Palfinger consists of cranes, winches and offshore equipment. The MPV will measure 81.9 x 17.16 m, with a  deck area of 620 sq

Windea La Cour Goes to Work

Photo: Ulstein Group

Two years on from the launch of the Ulstein Group’s X-STERN design at the ONS 2014 maritime exhibition in Stavanger, the first vessel to feature the innovative hull line has entered service at the Gemini offshore wind farm.   The newly built Windea La Cour incorporates the X-STERN: a

US Offshore Wind Comes to Life

(Photo: Robert Kunkel)

Marine News contributor Robert Kunkel asks: Are we ready to support the farms?   On August 19, 2016, we watched as the fifth tower and associated nacelle was raised on the Deepwater Offshore Wind Farm approximately 3 miles offshore of Block Island, Rhode Island

Navig8 Cancels Five Newbuildings at STX

Courtesy Navig8

Navig8 Chemical Tankers Inc. announced that it has cancelled contracts to construct five IMO2 49,000 DWT Interline-coated medium range tankers at STX Offshore & Shipbuilding Co., Ltd. which were to be delivered during 2017. Contracts ordering the cancelled vessels were previously announced

Wärtsilä Designed AHTS Delivered to COSL

Another two Wärtsilä designed AHTS vessels are to be delivered to COSL this year. Photo Wärtsilä

Two new Wärtsilä designed Anchor Handling Tug Supply (AHTS) vessels were delivered from the Wuchang Shipbuilding Industry Group yard in China during the second week of September. The ships have been built for China Oilfield Services Ltd (COSL)

BP Decries Deepwater Horizon Film as Inaccurate

Photograph: David Lee/Lionsgate

BP has criticized the new "Deepwater Horizon" film as being an inaccurate Hollywood dramatization of the deadly oil rig disaster in the Gulf of Mexico in 2010. "The Deepwater Horizon movie is Hollywood's take on a tragic and complex accident

FMC Collects $338,000 In Penalty Payments

Photo: FMC

Federal Maritime Commission Chairman Mario Cordero announced that the Commission has completed compromise agreements recovering a total of $338,000 in civil penalties. The agreements were reached with one vessel-operating common carrier and six ocean transportation intermediaries (both

An Introduction To Offshore Project CAPEX

Graph: Clarksons Research

 Two high-level indicators of vessel and structure demand in the offshore sector are energy prices and oil company exploration & production (E&P) spending, says Clarksons Research.   A third, slightly more specific indicator is estimated offshore project capital expenditure

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright