Aker Kvaerner's focus on technology has been duly recognized by the 2007 Offshore Technology Conference (OTC). Aker Kvaerner's PowerTracCone Crusher and Aker Kvaerner's SeaBooster technologies have both won 2007 OTC Spotlight on New Technology Awards. The PowerTrac Cone Crusher(TM) (full press release attached) provides a new solution for cost efficient, safe and environmentally sound removal of scale from well completions. Aker Kvaerner's SeaBooster(TM) (full press release attached) increases production rate of oil wells requiring local pressure support by injecting sea water. The OTC Spotlight on New Technology Awards showcases advanced technologies for the offshore oil and gas industry. Companies exhibiting at this year's OTC submitted entries detailing why their innovative technology should be in the spotlight at OTC.
World drilling activity for oil and gas fell 24 percent in 1999 from 1998, but levels should bounce back in 2000, IHS Energy Group said. "In 2000, I expect levels to reach at least those of 1998," said Ian Cross, Asia director for IHS, who produced an IHS report on world drilling activity in 1999. "Some areas in 2000 will be slow to catch up. I think the Far East will be one of them. There is less money going into this region," he said.
Offshore oil equipment and services provider Coflexip set an all-time high on Thursday following a price target upgrade by a major broker and on bright prospects for North Sea contracts. Coflexip was quoted up 6.67 percent at 152 euros, the broad market's best performer. Earlier, it had surged to a record 156 euros after Morgan Stanley Dean Witter lifted its price target to 200 euros from 165 euros and maintained a "strong buy" recommendation
Yesterday Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management, Regulation and Enforcement Director Michael R. Bromwich announced a mandate – effective October 15, 2010 – that oil and gas companies operating in the Gulf of Mexico will be required to set permanent plugs in nearly 3,500 nonproducing wells that are currently completed with a subsurface safety valve in place and dismantle about 650 oil and gas production platforms if they are no longer being used
U.K. offshore oil and gas appraisal and exploration drilling so far this year is only 39 percent of 1998 levels with no significant new drilling activity reported in the week ending Sept. 29, consultants Arthur Andersen said. They said in their weekly Well Report that only two new exploration wells were spudded in northwest Europe during the week in review. "This has created little change in the difference between drilling activity in 1998 and 1999
The U.S. Department of the Interior's Minerals Management Service (MMS) has updated two Notice to Lessees (NTL) to help the domestic industry adjust to and survive low prices. "Oil prices, adjusted for inflation, are down to levels last seen in the early 1970's," said Carolita Kallaur, associate director, Offshore Minerals Management Program. "While benefitting consumers generally, unanticipated price drops have some adverse consequences for society
Obama Administration Announces New Partnership on Unconventional Natural Gas and Oil Research. Today, three federal agencies announced a formal partnership to coordinate and align all research associated with development of our nation’s abundant unconventional natural gas and oil resources. The partnership exemplifies the cross-government coordination required under President Obama’s executive order released earlier today
The Wärtsilä 50DF dual-fuel engine represents a pioneering industry change from traditional steam turbine machinery to a dual-fuel-electric concept with the benefits of much better operating economy and lower exhaust emissions. The engine can run on either natural gas, marine diesel oil (MDO) or on heavy fuel oil (HFO). Furthermore, the engine can smoothly switch between fuels during engine operation and is designed to give the same output regardless of the fuel used
According to a Nov. 25 report from Business Standard, the current global credit crisis and an over 63 percent fall in crude oil prices in the last four months have resulted in oil companies drilling fewer wells in offshore areas. This has increased the availability of rigs across the world and helped bring down rig rentals by up to 10 percent in the recent past. The rig rates have corrected primarily in the shallow water fields where there have been traditionally more rigs available.
China's top offshore oil and gas producer, CNOOC, has posted a 38 percent jump in earnings for the first half of the year. The better-than-expected results were driven by soaring energy prices and higher output, according to a report on www.voanews.com. Oil and gas production at the state-owned company increased by more than seven percent in the first six months of 2006 compared to a year earlier. CNOOC's chairman Fu Chengyu says the company achieved breakthroughs in its overseas business
The Australian Maritime Safety Authority (AMSA) is trialing the use of satellites to detect oil spills in Australian waters. Satellite-based Synthetic Aperture Radar (SSAR) can identify potential oil spills directly from orbit. These satellite sensors can monitor day and night
GAC Norway AS and Polar Logistics Group ApS (POLOG) formed a strategic partnership to further strengthen GAC's network within the Arctic Circle. The move is the latest stage in the company's Arctic strategy to better serve the region by bringing together organizations and individuals to create
Oil & Gas U.K. said it is pleased that a plenary vote in the European Parliament may see the introduction of a directive on offshore safety and environment. Robert Paterson, Oil & Gas U.K.’s health, safety and employment director, said: “Oil & Gas U.K
Hermes Datacommunications International Ltd., a company providing Wide Area Network communications to the upstream oil and gas industry, won a contract to support Tullow Oil plc. for their operations in Africa. The 24-month deal sees the company use its pan–African satellite platform to
NOAA presented to the U.S. Coast Guard today a new report that finds that 36 sunken vessels scattered across the U.S. seafloor could pose an oil pollution threat to the nation’s coastal marine resources. Of those, 17 were recommended for further assessment and potential removal of both fuel
Drydocks World received the Best Repair Yard Award at the sixth Marine BizTV International Maritime Awards organized in conjunction with ShipTek 2013. The award was received on behalf of the company by Mr. Ali bin Towaih, Vice President, Commercial and Business Development.
The Board of Directors of the company elected Ian C. Strachan to serve as Chairman of the Board effective May 18, 2013. Mr. Strachan replaces J. Michael Talbert who was not re-elected at the company's annual general meeting held on May 17, 2013.
Georgia Ports Authority (GPA) moved 2.4 million tons of cargo in April, a 4.7 percent increase – or 108,532 tons – over the same month a year ago. This figure was boosted by a strong performance in containers, bulk and Roll-on/Roll-off cargo.
”We have responded to increasing demand from our customers for wider availability of our Cyltech 80 AW cylinder oil by expanding the supply network from five to 35 ports in key regions,” said David Goosey, Castrol Marine’s Chief Executive and Sales Director
Specialist liability insurer for the international transport and logistics industry TT Club said it had another good performance for the year ended December 31, 2012, with further increased gross written premiums, and the club now maintains its A- (Excellent) rating for the past eight years.
IMO’s GloBallast Partnerships Project, which assists developing countries and their maritime industries for implementation of the international regulations on ballast water management to prevent the spread of alien invasive species, has won the sixth Marine BizTV International Maritime Award
Providing Tugs For the Intricate Escort Regulations Of SF Bay Responding to the oil spills of the Exxon Valdez in 1989 and the American Trader in 1990, California enacted the Lempert-Keene-Seastrand Oil Spill Prevention and Response Act (OPA 90)
Kongsberg Oil & Gas Technologies AS (KOGT), a wholly owned subsidiary of Kongsberg Gruppen ASA, announced the latest release of the advanced Kongsberg Riser Management System (RMS), which introduces a number of new features developed to enhance situational awareness and improve data
IEA’s Medium-Term Oil Market Report sees companies overhauling global investment strategies; meanwhile, surge in non-OECD refining capacity shakes up product market The supply shock created by a surge in North American oil production will be as transformative to the market over the next
Austal announce new strategic partnerships in the Asia-Pacific region to enhance its support to the US Navy & others in the region. Following on from the strategic partnership with Singapore’s Sembawang Shipyard Pte Ltd announced in January 2013