Nocs News

2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…

Oil and gas services company Proserv Controls, has acquired the Middle Eastern operations of Dron & Dickson Electromechanical Contracting (DDEC) LLC, for an undisclosed fee. DDEC is a UK-based specialist in the supply, assembly, and maintenance of hazardous areas and industrial electrical equipment."The deal reinforces and expands the breadth of offering and capability that Proserv delivers in the Middle East and North Africa, where it has multiple sites including in Abu Dhabi…

The global oil and gas industry can save as much as $100 billion through automation and digitalization in the 2020s, energy research firm Rystad Energy said."As much as $100 billion can be eliminated from E&P upstream budgets through automation and digitalization initiatives in the 2020s. Service companies are reinventing themselves to help operators unlock these savings," said the study by  Rystad.In 2018, $1 trillion was spent on operational expenditures, wells, facilities and subsea capital expenditures across more than 3,000 companies in the upstream space. There are varying degrees of potential savings within offshore, shale and conventional onshore activity budgets…

Libya plans to load three additional crude cargoes this month from the recently reopened Marsa El Hariga terminal, after a tanker for trader Glencore departed on Friday. The country's National Oil Corp (NOC) in Tripoli chartered the Kriti Breeze to load 400,000 barrels of crude at the terminal in the next two days to take to the 120,000 barrels-per-day Zawia refinery, according to shipping brokers. After it loads, the Kriti will be the second tanker to depart from the port after Glencore's Seachance which waited for three weeks to load its 660,000 barrel cargo amid a standoff between eastern and western factions. The Seachance has already left Hariga, according to NOC, and Reuters tracking data shows the tanker making its way to Malta.

Libya's National Oil Corporation (NOC) based in Tripoli said on Thursday it had cancelled two oil cargoes from its May export program because a rival NOC in the east is blocking exports from Marsa al-Hariga. Mohamed el-Harari, spokesman for the NOC in Tripoli said in a statement that the standoff was costing Libya $10 million a day, and that revenue of $120 million had been lost so far. The NOC in Benghazi, which is loyal to Libya's eastern government, tried last month to export a first cargo of oil but the tanker was blacklisted by the United Nations and forced to return, deepening the rift between the rival NOCs. Eastern officials have since prevented crude being loaded onto a tanker sent to the Hariga port by the Tripoli NOC…

Singapore-listed offshore firm EMAS Offshore Limited wins $32m of new business  has secured new awards and letter of intents for charters amounting to approximately US$32 million, including options. These new charters will see EMAS Offshore’s Anchor Handling Tug (AHT), Anchor Handling Tug and Supply (AHTS) and Platform Supply (PSV) vessels supporting National Oil companies (NOCs), International Oil companies (IOCs) and other offshore contractors on drilling operations and cargo supply runs for offshore oil field projects in their production phases. Concentrated in Malaysia, Thailand, Myanmar and Vietnam, these contracts also comprise of awards from the West Africa region.

Tomorrow, five prominent members of the Agriculture Transportation Coalition (AgTC) will explain the major detrimental impact that the Safety of Life at Sea (SOLAS) Container Weight Documentation Amendment will have on the US agriculture and forest products export industry. The amendment is scheduled to go into effect July 1, 2016. The Agriculture Transportation Coalition's SOLAS Container Weights Working Committee, comprised of U.S. agriculture and forest products exporters and their freight forwarders and trucking companies, has been active on this issue for months, reaching out to the steamship lines, Federal Maritime Commission, U.S. Coast Guard, and Congress to draw attention to the significant problems this amendment poses to the industry.

South Carolina Ports Authority (SCPA) officials celebrated the newly-expanded New Orleans Cold Storage (NOCS) facility in North Charleston, an important addition to SCPA's ability to serve the growing refrigerated cargo market. Driven by SCPA's 38 percent growth of refrigerated cargo since 2011, Charleston has attracted significant investments in cold storage over the past year, SCPA said. "NOCS's expansion is significant to SCPA, especially given the strategic importance of refrigerated cargo to our business," said Jim Newsome, SCPA president and CEO. Completed in November 2015, the expansion increases the facility's blast freezing capabilities by 50 percent. The addition of 81,000 square feet more than doubles NOCS's local footprint, which now offers 136,000 square feet of cold storage.

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries, according to international learning technologies company Atlas Knowledge. Uptake of International Minimum Industry Safety Training, the global standard for health and safety training, has rocketed in the country in the last two years and now accounts for almost 15 percent of the worldwide total. On a country-by-country basis, this represents the largest uptake of IMIST across Atlas’ network of international training partners. An OPITO standard, IMIST was…

Ceona, SURF contractor with heavy subsea construction capabilities, has bolstered its fleet with the christening of its flagship asset, the Ceona Amazon, which has been delivered in less than two years of the letter of intent (LOI) for its construction being signed. The Ceona Amazon has been internally designed at Ceona and purpose built to perform in multiple pipelay and operational modes. She also features a large storage capacity and heavy subsea construction capability with her versatility setting her apart as a deepwater field development asset.

New research from Lloyd's Register Energy explores the drivers for technology and innovation in the global oil and gas industry. The Technology & Innovation Radar survey results are released today, May 5, 2014, from booth #2173 at the Offshore Technology Conference (OTC) in Houston by Lloyd’s Register Energy. It provides insight into the adoption and development of new technologies which are fundamental for the advancement of the Oil and Gas sector in addressing the global demand for energy, and to cope with the environmental challenges in the decades ahead.

Experts from the offshore energy industry around the world came together May 6-9 for the 2013 Offshore Technology Conference at Reliant Park in Houston. Attendance at the conference reached a 30-year high of 104,800, the second highest in show history and up 17% from last year. Attendance surpassed the 2012 total of 89,400 and the sold-out exhibition was the largest in show history at 652,185 ft², up from 641,350 ft² in 2012. The event had 2,728 companies representing 40 countries, including 244 new exhibitors in 2013. International companies made up 39% of exhibitors.

New York - Demand for oil and natural gas continues to grow, despite the current economic downturn, indicating a positive future outlook for oilfield services, according to a new report by business intelligence expert GBI Research. The new report shows that, for the most part, the global oilfield services industry has grown exponentially over recent years, witnessing a rapid increase in revenue and advancement in technologies. Increased exploration and production activities have seen the discovery of reserves in new regions, necessitating an expansion in oilfield services. A significant rise in unconventional plays within the North American region has necessitated an increase in the demand for pressure pumping services…

While much attention rightfully is paid the development of offshore oil and gas spending offshore Africa, a new report claims that Latin America is one of the fastest growing regions globally, slated to exceed Africa's Deepwater spend by 2014. Speaking at the SUT Learning Luncheon in Houston Steven Kopits, Douglas-Westwood Director, commented, “For oil companies the overall outlook for 2012 is positive. The 12th edition of the World Deepwater Market Forecast forecasts a 90% growth in expenditure, compared with the previous five-year period, with $232 billion to be spent 2012-2016. The outlook for the deepwater business is clearly one of significant long-term opportunity.

The 65 oil companies covered in DnB NO’s fifth annual E&P spending report expect a spending increase of 14% in 2011, 8% in 2012 and 7% in 2013. For 2011 we expect activity growth in line with last year; however, service costs are increasing and expected to contribute one third of the total growth rate. We believe that this, combined with fundamentals such as an organic Reserve Replacement Ratio of 87% and increased focus on deepwater and challenging areas, will lend good support to earnings for the oil services industry in the years to come. The fifth annual E&P spending report covers oil and gas companies’ spending on exploration and production (E&P) based on our survey of 65 oil and gas companies worldwide…

International oil companies remain vital to the growth of Asian oil and gas industry. Asia still requires the injection of profit-driven innovation from international oil companies, sector leaders claim. Asia needs international oil companies to continue to play a large and essential role in the oil and gas industry’s research and development activity, despite the growth of national oil companies, a group of the region’s oil and gas industry leaders has stated. The comments were…