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Aker Kvaerner's Technologies Win OTC Award

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.


Hunting profit flat on weak North Sea, Canada

Energy services firm Hunting posted pretax profit broadly flat on the previous year, but just short of analyst expectations, as a lack of drilling in the North Sea and Canada hit demand for equipment and services. The company, which provides equipment and services for drilling and completing oil wells, reported underlying profit before tax of $196 million on revenue of $1.3 billion, with demand in the Gulf of Mexico and Asia helping offset weakness in Europe and Canada.


Global Drilling Expected To Bounce Back In 2000

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.


“Idle Iron” Mandate to Plug Wells Could Save Some GOM Jobs

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


Sound Oil Upgrades Recoverable Volume of the SMG

James Parsons, Sound Oils Chief Executive Officer

  Sound Oil, the European / Mediterranean focused upstream oil and gas company, achieved a significant upgrade in the recoverable volume of the Santa Maria Goretti ("SMG") gas prospect, onshore Italy.   The onshore SMG Permit sits in the Marche Region in Central Eastern Italy, covers an area of 101km2 and is owned 100% by Sound Oil.  The SMG Permit area contains the southern extension of two significant producing gas fields, from 4 wells


Use a new EOR technology brings award for BP

BP Logo

  In recognition of the breakthrough new enhanced oil recovery – or EOR – technology, BP has been presented with the Distinguished Achievement Award. The award was presented on 4 May, 2014 at the Offshore Technology Conference (OTC) in Houston, Texas. This is the second time in four years that BP has won the award at this major annual gathering for oil and gas professionals. BP's plans to use the new enhanced oil recovery – or EOR – technology from day one of


DOE, EPA, DOI to Partner on Oil & Gas Research

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


U.K. Drilling Activity 39 Percent Of 1998 Levels

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


Rig Rates Down 10 Percent

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.


Wärtsilä-Hyundai JV Wins Big Order

The FLEX LNG ship will be powered by four Wärtsilä 50DF engines, manufactured by Wärtsilä-Hyundai Engine Company.

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


Oil Edges Below $99 but Supply Risks in Focus

Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.S. dollar. Threats to supply as Libya's output fell and talk of OPEC production cuts limited the decline for


Shell: Nigeria Oil Union Strike Not Affecting Exports

A strike by Nigeria's oil unions is not having any immediate impact on crude oil exports from Africa's top exporter, despite moving into a third day, spokesmen for leading operator Shell and Nigeria LNG said. Nigerian oil unions say the strike could affect exports if no agreement is reached


RWE Dea Awarded Two New Concessions in Egypt

The new RWE Dea licences in the Gulf of Suez

  In the International Bid Round 2013, RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC). The concessions are located in the Gulf of Suez, where the company is producing oil as operator for more than 30 years.


Bulgarian Naval Academy Installs VSTEP Simulators

Image courtesy of VSTEP

The Nikola Vaptsarov Naval Academy in Varna purchased a 360° Class A Full Mission Bridge simulator and an Incident Management Simulator for training of its Naval and Merchant marine students. The simulators were officially opened by the IMO Secretary-General Koji Sekimizu and the Dutch


Statoil: COSL Pioneer Temporarily Suspended

COSL Pioneer (Statoil image)

Due to overcapacity in their rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014. The rig is currently carrying out an assignment on the Visund field and is scheduled to complete this work at the end of September.


Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse. But the acquisition that may best symbolize its evolution is one the company didn't tout to


Upcoming Winter Tanker Market Same as Last Year?

Winter oil demand versus average annual demand: Image Poten & Partners

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the regular US baseball season is winding down, the fans are looking forward to the playoffs


Hurricane Energy Buoyed by Post-well Analysis Results

West of Shetland blocks

  Hurricane Energy plc, the UK-based oil and gas company, announced having substantially completed post-well data analysis following the successful testing of the 1km horizontal appraisal well 205/21a-6 in Q2 2014 at the Company's Lancaster oil discovery West of Shetland.


MN 100: Vigor Industrial

Vigor Weld.jpg

5555 N Channel Avenue Portland, OR 97217 Tel: (503) 247-1777    Email: heather.blahnik@vigorindustrial.com Website: www.vigorindustrial.com President & CEO: Frank Foti The Company: Based in Portland, Oregon, Vigor Industrial is the Pacific Northwest’s leader in


Brent Oil Hits 26-month Low Under US$97

HFO: File image

 Brent crude oil on Monday slumped to its lowest in over two years, below $97 per barrel as lacklustre economic data from China, the world's top energy consumer, cast a shadow over the outlook for oil demand at a time of abundant supply.


Newport International Boat Show Award Winners

Newport International Boat Show

  Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today the results of this year’s Newport For New ProductsTM (NFNP) Awards. Judged on Thursday during the opening day of the Newport International Boat Show and announced at an awards


essDOCS Opens Americas Headquarters

Image courtesy of essDOCS

U.S. East Coast office to serve customers in the Americas; set to advance company’s wider global eDoc adoption strategy Provider of shipping & trade eDocs solutions essDOCS announced its expansion to the U.S. with the opening of a regional Americas headquarters office in Hoboken


Keep it Clean & Green

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When dealing with oil and other hazardous contaminants on vessels and in marine facilities, there are some common misconceptions about the way hydrocarbons biodegrade. “The words biodegrade and bioremediate are not interchangeable,” said Jay H


MN 100: TerraSond Limited

Terresond Logo.jpg

539 N. Carancahua Street Corpus Christi, TX  78401 Telephone: 907 982 5321 E-mail: bbusey@terrasond.com Website: www.terrasond.com CEO/President: Thomas Newman Number of Employees: 65 The Company: TerraSond is a leader in precision geospatial solutions providing professional survey


PMI Energy Services Opens Shorebase in Louisiana

Photo: PMI Energy Services

PMI Energy Services, a Superior Energy Services company, has opened a shorebase in Morgan City, Louisiana, focused on supporting shelf, coastal and inland waters production and drilling activities. PMI’s shorebase is centrally located on the Louisiana coast and provides better protection






 
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