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Oil And Gas Supply News

13 Jul 2023

Hornbeck Offshore Eyes U.S. Offshore Wind Work with OSV-to-SOV Conversion Project

Credit: Hornbeck Offshore Services

U.S. offshore vessel owner Hornbeck Offshore Services, best known for its offshore oil and gas support vessel services, is looking at business opportunities in the growing U.S. offshore wind sector as well as in offshore accommodation services in the oil and gas area.For that, Covington, La. based Hornbeck Offshore said Wednesday it had contracted Eastern Shipbuilding Group to convert one of its recently acquired 280-foot offshore supply vessels (OSV) to a service operation vessel (SOV) to meet the growing demand of the U.S.

19 Jan 2023

Production Floater Market Outlook Brightening

© Igor Kardasov / Adobe Stock

IMA/WER has just completed its Annual Review and Five-Year Forecast of Orders for Floating Production Systems. The report:•provides a detailed look back at developments in the deepwater sector over the past year,•assesses 12 underlying market drivers that will determine the pace of production floater orders over the next five years,•identifies specific projects in the planning queue that will likely require a production floater and•forecasts the number of orders and capex for production floaters between 2023 and 2027.There has been a strong recovery in the deepwater sector…

03 Mar 2022

Subsea 7 Rises on Improved Outlook, Cash Dividend

File Photo - Credit: Subsea 7

Engineering firm, a major supplier to the oil industry, has decided to pay a regular dividend and buy back stock as it swung to a full-year profit in 2021 and its outlook improved, the company said on Thursday.Subsea 7 said it "firmly" believed that the market recovery was underway based on increased interest from its customers and it now expects its 2022 earnings to be "in line or better" than last year.Its Oslo-listed shares rose 6.5% by 1019 GMT, on track for their biggest daily gains in some 18 months, following the release of its October-December and full-year earnings.Analysts said the s

28 Jan 2021

Biden Pauses Federal Oil & Gas Leasing, Eyes Offshore Wind Growth

Joe Biden - Credit: The White House

President Joe Biden on Wednesday signed a new raft of executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies, as he pursues green policies he billed as a boon for job creation.The orders map out the direction for the Democratic president's climate change and environmental agenda and reverse the policies of his Republican predecessor, Donald Trump, who sought to maximize U.S. oil, gas, and coal output by removing regulations and easing environmental reviews."In my view…

27 Jan 2021

Biden to Target Drilling, Fossil Fuel Subsidies in New Climate Orders

© Lukasz Z / Adobe Stock

President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies as he pursues green policies in stark contrast to those of his predecessor Donald Trump.The orders map out the direction for the Democratic president's climate change and environmental agenda and mark a reversal from Trump, a Republican businessman-turned-politician who sought to maximize U.S. oil…

17 Sep 2020

Opportunities Gust Off US Shores

© Daniël Leppens / Adobe Stock

Throughout the world, offshore wind is on a growth trajectory. With green energy mandates from states in New England and the mid-Atlantic, the U.S. is joining the fray. Consultants Wood MacKenzie, in its U.S. Offshore Wind Outlook 2020-2029, suggested that as much as 25 gigawatts (GW) of capacity could be deployed in the U.S. by 2030 (though estimates range from 14 GW to as much as 34 GW), accounting for a hefty portion of incremental capacity coming online.Shipyards in New England have already seen the tip of the offshore wind iceberg…

31 Aug 2020

Ocean Installer, Vard Working on 'Most Advanced' Offshore Wind Installation Vessel

Credit: Ocean Installer

Ocean Installer, a Norwegian company mostly known for its offshore oil and gas services provider, is increasingly turning towards the offshore wind industry.Following a recent establishment of an offshore wind branch, and the naming of a director to lead it, Ocean Installer on Monday announced it would enter into a partnership with shipbuilder Vard - a Fincantieri company - "to develop one of the world's most advanced turbine installation vessels for offshore wind." Erik Haakonsholm…

30 Oct 2019

OP/ED: Offshore Wind

Nicolette Nye, Vice President of Communications and Member Development of the National Ocean Industries Association (NOIA) in Washington, DC.

Set to Soar, Taking Offshore Support Industry With it.Offshore energy development is opening a new front in the United States -- the Atlantic seaboard, with strong winds, a shallow continental shelf and a proximity to dense population centers is driving strong interest in offshore wind development. The offshore oil and gas supply chain stands to benefit in a big way from billions in coming investment. In fact, it is already playing a role. Companies in the Gulf of Mexico, which traditionally support the offshore oil and gas sector…

21 Jan 2019

AsiaPac Oil and Gas Industry Looks Up

Confidence in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL, the technical advisor to the oil and gas industry.According to a new research from DNV GL, three quarters (76%) of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own organizations’ prospects has also risen from 59% last year to 74% in 2019. These rises in confidence come alongside intentions to spend more in the year ahead. A third (34%)  of industry leaders in the region expect to increase capital expenditure in 2019, up from just 20% in 2018.

25 Sep 2018

Smarter Energy Policy Will Broaden Offshore Recovery

For the past few years, depressed commodity prices, stricter regulatory requirements and competition from onshore development at home and from other countries offering attractive offshore lease and royalty terms have had severe impacts on new exploration in the U.S. Gulf of Mexico. Thankfully, the tide appears to finally be turning.In August, Gulf of Mexico Lease Sale 251 drew increased competition for offerings and $178 million in high bids, $53 million more than previous sale held in March.

27 Nov 2017

Wind Energy Workboats: A US Offshore Build-up

Pioneers: Block Island, RI, America’s first wind park. (Photo: AWEA/Deepwater Wind)

Block Island — U.S.-based Deepwater Wind’s five-turbine, 30-megawatt wind park — was the first. It showed what was possible, what might not have been optimal and how long it all takes. Since then, incentives for onshore-wind have been curbed, while a tax credit for offshore wind has been extended. Wind parks are in the works. States have power companies buying offshore wind energy, and experienced offshore operators are hiring the new wind-service vessels from elements of their oil-and-gas supply chain. The Jones Act, too, is being overcome by fleet owners and designers joining the U.S.

01 Aug 2017

European Oil Majors Enter U.S. Offshore Wind Markets

Statoil, Shell, DONG Energy turn to U.S. offshore wind; oil firms bring big budgets, offshore tech and risk experience. Some European oil majors have made inroads into the emerging U.S. offshore wind energy market, aiming to leverage their experience of deepwater development and the crowded offshore wind arena at home. Late entrants to the offshore wind game in Europe, which began with a project off Denmark 25 years ago and is now approaching maturity, they are looking across the Atlantic at what they view as a huge and potentially lucrative new market. Norway's Statoil has won a licence to develop a wind farm of the New York coast, is marketing its new floating turbine to California and Hawaii and is retraining some oil and gas staff to work in its wind division.

30 Jan 2017

Ship Operator Toisa Files for Bankruptcy

Toisa Conqueror (Photo: Sealion Shipping Ltd)

Shipping company Toisa Ltd filed for U.S. Chapter 11 bankruptcy as falling demand for the Bermuda-chartered company's oil-and-gas supply vessels left it running short of cash, according to court documents. Toisa, owned by Greek shipping magnate Gregory Callimanopulos, has a global fleet of 26 offshore oil service vessels, 13 tankers and seven bulk ships, according to documents filed with the U.S. Bankruptcy Court in Manhattan. The ship operator said it had more than $1 billion in debt in court documents.

18 Dec 2015

NOIA Praises Effort to Lift Crude Oil Export Ban

Today, Congress passed the Omnibus Appropriations bill, H.R. 2029, which includes a provision lifting the existing U.S. crude oil export ban. U.S. oil exports will strengthen America’s national and energy security and result in substantial benefits for consumers and job creation across the country, according to the National Ocean Industries Association (NOIA). NOIA noted also that the bill did not include a key priority for the offshore energy industry –statutory language requiring incorporation of industry’s significant concerns in the final Well Control Rule proposed by the Bureau of Safety and Environmental Enforcement (BSEE) – the…

23 Oct 2014

Lerwick Port Awards £16.5 mi Expansion Contract

Lerwick Port Authority has awarded a construction contract for the latest expansion of the harbour’s facilities in a project costing a total of £16.5 million and which will benefit the fishing and oil sectors. The new jetty at Holmsgarth North will provide deeper berthing and more working area for the fishing fleet, while the outer arm of the L-shaped jetty will create a dock sheltering a planned new white fish market. The outer arm will also be suitable for berthing offshore industry vessels. Local company, Tulloch Developments Ltd, has been appointed main contractor. Site set-up will start before Christmas and the main works in the new year, with completion in autumn, 2016. Construction is expected to employ up to 50, helping to secure employment.

14 May 2014

Floating Production System Orders Outlook

Projected Growth Global Natural Gas Demand  (Quadrillion Btu)

An EPC contract for a production unit can easily exceed $1 billion – and $3 billion for an FPSO has recently been breached. Overall, this is a $20 to $30 billion annual market. But, as described below, the sector is hitting some headwinds that could impact future business opportunities. 243 floating production projects are in various stages of planning as of beginning May. Of these, 57% involve an FPSO, 16% another type oil/gas production floater, 23% liquefaction or regasification floater and 5% storage/offloading floater.

17 Mar 2014

O&G Safety Conference: Leading from the Front-line

David Doig

The date and topic for this year’s OPITO Safety and Competence Conference – OSCC 2014 have been announced. Now in its fifth year, the annual event will take place on November 4, 2014 in the Fairmont Hotel, Abu Dhabi. Under the title of “Leading from the Front-line”, the conference will explore the dynamic of effective leadership and change management on human behaviors in relation to safety. Over 400 delegates and 25 exhibitors are expected at OSCC 2014 where leaders from the…

31 Oct 2013

Industry Research into Oil and Gas Skills

John McDonald, managing director of OPITO UK

The most thorough analysis of the North Sea oil and gas skills landscape ever undertaken will commence next week with nine of the U.K.’s leading energy, business and skills organizations involved. The major study is the first to examine in depth exactly how many people and what skills are needed in order to address the critical shortage in the industry both now and in the future. Senior representatives from more than 1,000 operators, contractors and organizations throughout the…

26 Jul 2013

Asia Pacific Spill Response OSRL Increases Capabilities

the new base in Singapore

Last month Oil Spill Response Limited (OSRL), a global oil spill response cooperative funded by more than 160 companies, opened its new base with enhanced response capabilities at Loyang in Singapore. Maritime Reporter took the opportunity to speak with Robert Limb, OSRL Chief Executive, regarding the significance of OSRL’s expansion. The opening of the base last month in Singapore was touted as a milestone event for the maritime and oil and gas industries in the Asia Pacific region…

13 Jun 2013

New Oil Spill Response Base Opens

OSRL Opening

Oil Spill Response Limited (OSRL), the global oil spill response cooperative funded by more than 160 environmentally responsible oil and energy companies, announces the opening of a new base with enhanced response capabilities at Loyang in Singapore. The opening of the base in the Asia Pacific region brings together personnel and equipment resources in a single place so as to deliver an integrated, swift and effective response to an emergency oil spill incident. In addition, regional…

24 Sep 2012

Maersk Drilling Secures Offshore West Africa Contract

Driller's cabin on a Maersk Rig: Photo credit Maersk Drilling

Jack-up rig 'Maersk Endurer' contracted for 2-year drill off Cameroon, adding about US$ 100-million to Maersk Drilling's contract backlog. Maersk Drilling expands its activities in West Africa with the signing of a contract for the jack-up Maersk Endurer with Addax Petroleum, owned by Sinopec, which is one of the largest oil and gas producers in the world. The contract duration is two years and the value is around USD 100 million. Expected commencement is late October 2012. “We are pleased to have signed this contract with a very experienced operator in West Africa…

23 Jul 2012

SinoPacific Signs Deal for Six OSVs

The SINOPACIFIC Shipbuilding Group signed a newbuilding contract of 4 SPP35 platform supply vessels (PSV) and a Letter of Intention of 2 large SPP50 PSVs with SLOK Nigeria Ltd. The six vessels are scheduled to be delivered by the end of 2014. This marks the first time that independently designed offshore supply vessel (OSV) products of SINOPACIFIC direct selling to the African market, signifying the growing maturity and acceptance of the SP brand within the market. Over the past two years, SINOPACIFIC has successfully sold 20 similar vessels. Reportedly, the two newly contracted types will be built at SINOPACIFIC’s Dayang Shipyard. “Dayang has been focusing on efficiently building bulk carriers.

07 Sep 2010

DNV Reommends Changes to U.S. Safety Regime

Photo courtesy DNV

Houston: “A step change can be achieved with respect to prevention and mitigation of major accidents through a performance based safety regime supported by a risk management approach. Empirically, the risk can be reduced by a factor of ten,” says Elisabeth Tørstad, DNV COO in the Americas and Sub-Saharan Africa. As an input to the ongoing review of the U.S.’ current offshore safety regime, DNV is recommending considerable attention to several key aspects of safety management.