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Energy Services News

04 Aug 2023

From Telford Offshore to KNOT Offshore: Derek Lowe Named New CEO and CFO

Shuttle tanker owner KNOT Offshore Partners will appoint Derek Lowe as new Chief Executive Officer and Chief Financial Officer with effect from the week of September 11, 2023.The new appointment comes following the decision of Gary Chapman to step down as the Partnership’s CEO/CFO announced on April 10, 2023. Lowe will join the KNOT Offshore Partners from Telford Offshore, a provider of accommodation, construction, and pipelaying in the global offshore energy services industry. He has served as the Group Company Secretary of Telford Offshore since its formation in 2018, having provided consultancy services to its predecessor since 2015. He worked from 2011 to 2015 for the debt capital markets group of Pareto Securities, and from 1994 to 2010 for the equity capital markets group of UBS. Mr.

24 Feb 2023

Pushing the Envelope: A H2 Project Highlights French Teamwork on Alt-Energy

Copyright Parradee/AdobeStock

At the Sea Tech Week Maritime Transport conference this past September, held in Brest, France, there was no shortage of big-picture, creative ideas pertaining to maritime shipping and alternative energy.One such project, called Seaguel, was presented as part of a larger discussion on hydrogen (H2) as maritime fuel. The full session was titled “Distributing Hydrogen from Offshore Wind Farms as a Fuel for Ships.” The topic was developed by France Energies Marines (FEM), a public-private R&D collaborative focused on offshore renewable energy.Right now


03 Jan 2023

WESI, LeeWay Bring Hydrogen Fuel Solutions to Atlantic Canada

(Photo: LeeWay Marine)

Engineering firm Waterford Energy Services Inc. (WESI) and vessel owner/operator LeeWay Marine are collaborating to bring hydrogen fuel supply to Atlantic Canada for marine applications.The two Canadian companies said early front-end engineering and design (E-FEED) has commenced for a Phase 1 Pilot. The collaboration has identified strategic locations for the provision of shore-based hydrogen fuel supplies. In addition, vessels of opportunity have been surveyed for fuel conversion feasibility.

28 Dec 2022

James Fisher Sells DSV to Seamec

Marine services company James Fisher and Sons said it has sold another one of its dive support vessels (DSV) to India-based Seamec Limited.The U.K.-based firm announced on Wednesday it entered into a memorandum of agreement for the sale of the 2007-built, 103.7-meter-long DSV Subtech Swordfish for $24 million.The deal remains subject to completion of the formal sale process, including issuing of notice of readiness and completion of flag requirements, James Fisher said.Under the agreement, James Fisher will maintain access to the Swordfish until the end of Q3 2023, enabling it to complete existing and potential customer commitments, the company said.

30 Nov 2022

US Coast Guard Says Calcasieu, Louisiana Oil Spill Contained

Illustration only ©Studio Barcelona/AdobeStock

An estimated 3,500 gallons of used lubricant oil that spilled near Calcasieu Point Landing, in Louisiana, has been contained, U.S. Coast Guard officials said in a statement on Tuesday.The discharge, reported on Monday, was discovered to have escaped from the secondary containment at Martin Energy Services, the Coast Guard told Reuters in an emailed statement."The source of the spill has been secured and the oil has been contained with boom along the banks of the Lake Charles Industrial


18 Aug 2022

POSH Buys Boa Deep C Offshore Construction Vessel

Singapore-based offshore energy services provider PACC Offshore Services Holdings (“POSH”) has agreed to buy the 119-meter long, DP-3 offshore construction vessel ‘BOA Deep C’ from Norway's BOA OCV AS. The vessel will be renamed ‘POSH Deep C’ and will join the POSH fleet in October 2022. POSH said the addition of the multipurpose Offshore Construction Vessel (“OCV”), built in 2003, was part of its strategy to increase its service offerings. The financial details were not disclosed."The OCV’s versatility will complement the existing fleet with capabilities including subsea installation works and turnkey towage and installation services for the floating offshore wind and energy sector


27 Jul 2022

Saipem Confirms Targets After Return to Core Profit

(File photo: Saipem)

Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million).Investors this month agreed to fund only 1.4 billion euros of a life-saving 2 billion euro cash call, leaving the underwriting banks to mop up the remaining new shares.

17 Jun 2022

James Fisher Names Vernet CEO

(File photo: James Fisher)

U.K.-based marine services company James Fisher and Sons plc announced it has appointed Jean Vernet as chief executive officer.He will take up this position on September 5, 2022, succeeding Eoghan O’Lionaird who will step down from his position on the board and as CEO. O’Lionaird will  remain employed by the group until June 13, 2023, to ensure a smooth and effective transition of responsibility.Vernet has considerable experience working in the offshore energy sector in both the U.K. and around the world. Most recently, he was CEO of Smiths Group’s largest division, John Crane.

14 Jun 2022

Saipem 7000 Returns to Work at Scottish Wind Farm after April Tilting Incident. Full Lifting Capacity to be Restored in 2023

Saipem 7000 - Credit: Saipem (file photo)

Italian offshore energy services company Saipem has confirmed the return to action of its giant crane vessel Saipem 7000, following a tilting incident in Norway in mid-April.Offshore Engineer reported back in May that the 197.95 meters long Saipem 7000 would return to work at the Seagreen wind farm site offshore Scotland on or around May 31.Two weeks later, the confirmation came from Saipem. The company said Monday: “Following the incident [that] occurred on April 14, 2022 to Crane n.1 of Saipem 7000


17 May 2022

Helix Energy Solutions to Buy Alliance Companies to Boost Presence in Gulf of Mexico Decommissioning Space

One Alliance's liftboats - Credit; Alliance Offshore

U.S.-based offshore oil and gas services firm  Helix Energy Solutions Group is set to buy equity interests of Louisiana-baed Alliance group of companies for $120 million cash at closing, plus the potential for post-closing earnout consideration.Alliance is a Louisiana-based privately held company that provides services supporting the upstream and midstream ‎industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and ‎reclamation, project management


19 Apr 2022

Saipem Shares Possible Cause of Crane Vessel Tilting Incident in Norway

For illustration only - Saipem 7000 - Credit: Saipem (File photo)

Italian energy services company Saipem, whose Saipem 7000 crane vessel with 275 people aboard tilted in a fjord in Norway on Thursday morning, released a statement on Thursday evening, confirming the incident had occurred, and sharing preliminary info on the likely cause."In the morning of today off the coast of Amoyfjorden (Norway), an incident occurred on the vessel Saipem 7000. After having completed DP trials as per DNV testing program, Saipem 7000 was performing the planned 5 years main cranes load test


11 Apr 2022

Boskalis to Install Power Packs on Offshore Energy Branch Vessels

Bokalift 2 illustration - Image Credit - WÀrtsilÀ (File image)

Dutch marine and offshore energy services firm Boskalis said Monday it would convert vessels within its Offshore Energy division into hybrid vessels through the retrofitting of Energy Storage Systems, or ‘power packs’. "The conversions, which entail a sizable capital investment, will reduce the vessels’ fuel consumption and associated carbon dioxide and nitrogen oxide emissions by an average of up to twenty percent. The systems also provide a power supply and energy storage facility while the vessels are docked and contribute to quieter and more efficient operations offshore


06 Apr 2022

Swire Energy Services Wins UK Wind Farm Work for Ørsted

(Photo: Ørsted)

Offshore services firm Swire Energy Services (SES) said it has been awarded a contract from wind farm operator Ørsted for a routine maintenance campaign off the U.K. coast for Summer 2022.The new contract will see SES provide services including blade maintenance and the provision of service operation vessel (SOV) and crew transfer vessel (CTV) logistics for two of Ørsted’s wind farms off the coast of Cumbria.The contract is one of the first major blade service scopes SES has won since it acquired wind service company ALL NRG in August of 2021


30 Mar 2022

Swire Energy Services Names Harrestrup Head of Commercial for Wind Division

 Jan Harrestrup. Image courtesy Swire Energy Services

Since the acquisition of ALL NRG in August 2021, Swire Energy Services Wind division has seen several new senior appointments, with the most recent being that of Jan Harrestrup as Head of Commercial.Leading the commercial team, Harrestrup will be responsible for global business development, contract management and sales, in addition to procurement and the general management of SES Danish entity, Swire Energy Services A/S.Prior to his appointment Harrestrup held the role of Head of Sales with B&R Automation Danmark.

18 Mar 2022

Dutch Test Barriers to Prevent Ships from Hitting Wind Turbines

Illustration: String of surface buoys secured by drag anchors ©MARIN

In research prompted by the incident in the Dutch North Sea in January when a drifting bulk carrier hit offshore wind facilities, Dutch maritime research institute MARIN this week, with industry partners, tested three innovative barriers aimed at averting collisions between ships and wind turbines.The drifting bulk carrier Julietta D initially collided with a tanker before hitting a transformer platform and a turbine foundation for the Hollandse Kust Zuid wind farm currently under


04 Feb 2022

Oil Hits Seven-year High

© Lukasz Z / Adobe Stock

Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70.U.S. West Texas Intermediate crude ended $2.04, or 2.3%, higher at $92.31 a barrel after trading as high as $93.17, its highest since September 2014.Brent ended the week 3.6% higher


04 Jan 2022

Tidewater Appoints Cougle to Its Board of Directors

Offshore vessel owner Tidewater on Tuesday announced the appointment of Melissa Cougle to its Board of Directors, effective immediately. Cougle most recently served as Senior Vice President and Chief Financial Officer of Frank’s International until November 2021. She previously served as Senior Vice President and Chief Financial Officer of National Energy Services Reunited. Cougle began her career with Arthur Andersen in 1999 and subsequently held positions of increasing responsibility in the oilfield services industry at Ensco plc, and prior to that Pride International. She holds a Bachelor of Science in Business from Louisiana State University and is a Certified Public Accountant."Melissa is a seasoned executive with a strong track record of leadership in the oil and gas sector


03 Dec 2021

Large Offshore Wind Tower Manufacturing Plant to be Built at Port of Nigg, UK

Credit: Global Energy Group

Global Energy Group (“GEG”), the Scottish-based energy services company has agreed on terms with offshore wind tower manufacturing specialist, Haizea Wind Group (“Haizea”), to build a £110m-plus (~$146 million) offshore wind tubular rolling facility at Port of Nigg, located in the Scottish Highlands. GEG said Friday that Nigg Offshore Wind (“NOW”) would be 450-meter-long, 38,000 m2 factory, capable of rolling steel plate to supply towers which will weigh in excess of 1,000 tonnes each and other products


11 Mar 2021

Drydocks World to Upgrade Its Lighting Systems

UAE shipyard Drydocks World said it will upgrade the lighting systems at its facilities, reducing total consumption of lighting power by 55%.The company said it has reached a deal with Etihad Energy Services, (Etihad ESCO), wholly-owned subsidiary by Dubai Electricity and Water Authority (DEWA), driving sustainable and energy efficient solutions in refrigeration, lighting and water sectors.The agreement includes the application of modern, smart, indoor and outdoor lighting solutions at Drydocks World facilities with 378 lighting units to be replaced at the smithery and pipes workshop


21 May 2021

Oil Jumps on Weather Concerns in Gulf of Mexico

© Roman Krochuk / Adobe Stock

Oil prices jumped 2% on Friday after three days of losses, driven higher as a storm formed in the Gulf of Mexico, but were on track for a weekly fall as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress a nuclear deal.Brent crude futures rose $1.33, or 2%, to $66.36 a barrel by 1:06 p.m. ET (1606 GMT), while U.S. West Texas Intermediate was at $63.54 a barrel, up $1.61, or 2.6%.A weather system forming over the western Gulf of Mexico has a 40% chance of becoming a cyclone in the next 48 hours, the U.S.

07 Apr 2021

Chevron, Hokkaido Gas Ink LNG Supply Deal

For illustration only - First Chevron Wheatstone LNG cargo from Australia departing for Japan in 2017 (File Photo: Chevron)

U.S. oil and gas major Chevron has signed a deal with Japan's Hokkaido Gas Co., Ltd. for the delivery of liquefied natural gas (LNG) from Chevron’s global LNG portfolio to Japan's Hokkaido area.Under the agreement, Chevron will supply Hokkaido Gas with about a half million tons of LNG over a period of five years starting April 2022.“We are delighted to design and execute a Sales and Purchase Agreement (SPA) with our new partner Hokkaido Gas that will bring Chevron LNG directly to Hokkaido, a key growth area.

05 Mar 2021

Oil Surges After OPEC+ Extends Cuts

© mohdnasrullah / Adobe Stock

Oil prices jumped about 3% on Friday, hitting their highest levels in over a year, following a stronger-than-expected U.S. jobs report and decision by OPEC and its allies not to increase supply in April.Brent futures rose $2.10, or 3.2%, to $68.84 a barrel by 11:25 a.m. EST (1625 GMT). Earlier in the session, the global benchmark hit its highest since January 2020.U.S. West Texas Intermediate (WTI) crude rose $1.87, or 2.9%, to $65.70 per barrel, after earlier scaling its highest since April 2019.For the week


13 Jul 2021

Offshore Wind Installation Giant in the Making: Subsea 7 to Merge Renewables Business with OHT

OHT's Wind Turbine Installation vessel ordered last year - Credit: OHT

Subsea energy services firm Subsea 7 said Thursday it had agreed to merge its renewables business with OHT, and Oslo-listed heavy lift and transportation vessel owner which is building a fleet of offshore wind installation vessels, too.The combined company will be renamed Seaway 7 ASA and will initially retain OHT’s listing on Oslo’s Euronext Growth market, with a view to a future listing on the main board of Oslo Børs. Subsea 7 will own 72% and OHT’s shareholders 28% of Seaway 7 ASA.