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Offshore Reports

Diamond Offshore Reports 4Q Results

Deepwater drilling company Diamond Offshore announced fourth quarter and full-year earnings. Results were solid, with revenues and earnings showing big increases on both a quarterly and an annual basis. Compared to the fourth quarter of 2005, revenues rose 57 percent and earnings per share rose 106 percent. Full year figures demonstrated similarly gaudy growth, as revenues rose 68 percent and earnings per share were up an astronomical 168 percent. Source: The Motley Crew


Horizon Offshore Reports Barge Incident

Horizon Offshore said today that one of its vessels, the lay barge Lone Star Horizon, suffered moderate damage due to a fire while at anchor off Ciudad Del Carmen, Mexico. The vessel crew was evacuated and no injuries requiring medical treatment were reported. The Lone Star Horizon had recently completed the KIX pipeline project for PEMEX, and was preparing for demobilization to the U.S. Gulf of Mexico. The fire, which was limited to the generator control room, occurred at about 3:00 p.m


W&T Offshore Reports 2Q Results

Oil and gas explorer W&T Offshore Inc. said its second-quarter profit rose 18 percent on higher revenues from its August 2006 acquisition of Kerr-McGee properties. Net income rose to $45.5 million, or 60 cents per share, from $38.5 million, or 58 cents per share, a year earlier. Revenue rose 64 percent to $272.6 million from $165.8 million. Analysts polled by Thomson Financial expected, on average, earnings of 46 cents per share on revenue of $263.8 million.


Horizon Offshore Reports Third Quarter Earnings

Horizon Offshore, Inc. reported net income for the quarter ended September 30, 2001, of $2.8 million. This compares with net income of $3.7 million, for the third quarter of 2000. For the third quarter of 2001, the company reported gross profit of $7.7 million, or 12.6 percent, on contract revenues of $61.0 million, compared with gross profit of $10.3 million, or 18.2 percent, on contract revenues of $56.3 million in 2000.


CSO Deep Blue Starts Work in the GOM

Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Ala. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen fields


CSO Deep Blue Starts Work in the GOM

Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Alabama. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen


FEATURE: Staking a Claim in GOM and Beyond

Todd Hornbeck, who has quickly yet judiciously built a sizeable marine company at Hornbeck Offshore Services, Inc. in just five years, shares with MarineNews the secrets of his success. by Greg Trauthwein Upon meeting with Todd Hornbeck, President and CEO of Hornbeck Offshore Services, Inc. at the literal epicenter of big oil dollars - the recent Offshore Technology Conference (OTC) in Houston - one is continuously struck with the contrasts of the man and mission


Stolt Offshore Completes Platform Salvage

Stolt Offshore reported it has successfully completed the Eugene Island 275A platform salvage project for Total E&P USA, INC., in what is described as the first platform salvage using only mechanical cutting devices. The platform was located on OCS-G-0988, some 70 miles off the Louisiana coast in 180 ft. of water. "Because of environmental and safety objectives, Total E&P USA asked Stolt to conduct the salvage operation without an arc being struck under water


Offshore Wind: A $16B Business

Offshore wind will see $16 billion of capital expenditure in the coming five year period as 4.5 GW of new capacity is installed, according to The World Offshore Wind Report 2008-2012, published by Douglas-Westwood. With just over 1.1 GW of capacity currently installed, this represents significant market growth and leads to an annual capital expenditure of over $5.2 billion by 2012. In comparison to the previous five year period


European Offshore Wind Faces Make-or-break 2020 -Report

Wind power companies such as Vestas, Siemens and Dong need Europe's installed offshore capacity to more than double and costs to be cut by a fifth within five years to compete with other fuels, an industry report said on Tuesday.   The Ernst & Young report described 2020 as a make-or-break year for the offshore wind power industry, which must install more than 20 gigawatts (GW) of capacity generating electricty for about 100 euros ($107) per megawatt-hour (MWh), against 140 euros now


Milaha Reports Improved Net Profit for Q1

HE Sheikh Ali bin Jassim Al Thani

Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs. QR 699 million for the same period in 2014, an increase of 12% quarter over quarter


Intelligent Fender System Completes Offshore Trial

Photo: Strainstall

Strainstall, part of James Fisher and Sons plc, announced the completion of the world’s first Intelligent Fender System (IFS) trial with energy companies SSE and RWE at Suffolk-based wind farm, Greater Gabbard.   The IFS is an in-house developed technology which aims to provide


JSMEA Offers Access to Japan’s Offshore Suppliers

JSMEA website.jpg

New website and brochure provide a comprehensive list of Japanese suppliers to the offshore industry The Japan Ship Machinery and Equipment Association (JSMEA) has compiled a list of Japanese-made ship machinery and equipment products for offshore units


Abu Dhabi to Invest $25 Billion Offshore to 2020

Image: Aeron AS

 Abu Dhabi National Oil Company (ADNOC) plans to invest around US$25bn over the next five years in a bid to boost oil production from offshore fields.   The investment is part of the UAE's strategy to increase its crude oil output potential from its current production of 2


Kleven Delivers Construction Vessel to Olympic Shipping

Olympic Bibby (Photo courtesy of Kleven)

Offshore construction vessel Olympic Bibby, build no. 371 from Kleven Verft, has been delivered to Norwegian shipowner Olympic Shipping.   The vessel has a long term charter with Bibby Offshore, and its first job will be on the British sector of the North Sea.   


Safety at VIKING Scales New Heights

VIKING’s arctic suit triumphs over extreme temperatures_PS5002

  A record-breaking offshore evacuation system is one of several highlights to be presented at the stand of leading marine and fire safety equipment and service provider VIKING Life-Saving Equipment (VIKING) at OTC 2015 in Houston, Texas.   Chuting for the top


Kongsberg Simulators to Enhance GoM Offshore Training

Photo courtesy of Kongsberg

‘Fideicomiso de Formación y Capacitación para el Personal de la Marina Mercante Nacional’ (FIDENA), on behalf of Mexico’s Secretariat of Communications and Transportation (SCT) has selected Kongsberg Maritime offshore simulators for the Marine Education Center in


ABS Executive Chairs Forum at Sea Asia

KENNETH RICHARDSON, EXECUTIVE VICE PRESIDENT OF ENERGY PROJECT DEVELOPMENT

  ABS Executive Vice President of Corporate Energy Development Ken Richardson says managing Big Data is critical to the future of offshore. (Singapore) ABS, the leading provider of classification services to the global marine and offshore industries


Chevron Hires Norce Endeavour for Thailand Ops

Norce Endeavour. Pic courtesy: Solstad Offshore ASA

 Solstad Offshore ASA (SOFF) has fixed the 2011-built 18,000 dwt crane barge Norce Endeavour to Chevron for work in Thailand next year for around 200 days.   Solstad has received confirmation from Chevron in Thailand for the 2016 Offshore Installation Campaign utilizing its Derrick Lay


Australia: Submarines Excluded from Shipbuild Review

Pics: Australian Shipbuilders Association Limited

 The Australian Navy’s future submarine project has been excluded from the country's shipbuilding review on advice from the Abbott government that the new fleet would be built offshore.   The review’s final report, published on Thursday


US Well Control Regulations Proposed

BSEE Director Brian Salerno

U.S. Interior Department releases proposed well control regulations to ensure safe and responsible offshore oil and gas development; result of extensive consultation, evaluation after Deepwater Horizon   In response to the findings of investigations into the Deepwater Horizon tragedy


Three Kidnapped from Boat off Nigeria -Bourbon

    French oil services company Bourbon said on Monday that three Nigerian crew members had been kidnapped after one of its speedboats was boarded off the Nigerian coast in the night of April 8.   "An emergency unit based in Nigeria has been immediately activated


New Bibby Offshore Vessel Christened

Olympic Bibby (Photo: Bibby Offshore)

On Thursday, April 9, the official naming ceremony took place for inspection repair and maintenance (IRM) light construction vessel Olympic Bibby, at the Kleven Shipyard, Norway.   The ceremony saw the vessel’s official Godmother Connie Brown


ASRY Rig Division’s Deliveries All on Time in 2014

In 2014, ASRY Offshore Services completed every one of its repair scopes within schedule, on-budget, and with leading safety standards.   ASRY, a ship and rig repair yard in the Arabian Gulf, has confirmed that its Offshore division, which specializes in rig repairs


Total Pulls Out of Oman Offshore Exploration Block

French oil and gas giant Total has pulled out of a deepwater block in offshore Oman after failing to make commercially attractive discoveries, a senior Omani official told reporters on Monday.   Nasser Al Aufi, undersecretary at the Ministry of Oil and Gas






 
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