The U.S and Philippine Navies Hold Maritime Drill
The U.S. and Philippine navies will participate in the Maritime Training Activity Sama Sama June 19-25 in the vicinity of Cebu. Maritime Training Activity Sama Sama is designed to enhance the complexity and diversity of training opportunities, while strengthening the longstanding alliance between the U.S. and the Republic of the Philippines. The exercise will focus on mutual security concerns that affect the Philippines including piracy and sea smuggling, maritime domain awareness and patrol, and humanitarian assistance and disaster relief preparedness. "The training we will perform over the next week will provide excellent opportunities to deepen our long-time maritime partnership with the Philippine Navy," said Rear Adm. Don Gabrielson, commander, Task Force 73.
Dana Gas Wins Block Offshore Egypt
Dana Gas said it has signed an agreement for the North El Arish (Block 6) Concession Area, offshore the eastern Nile Delta. The 2,980 sq. km block was awarded in April 2013 as part of a competitive bidding process. This is the company’s first offshore block in Egypt, covering water depths from 20 up to a 1,000 m. Multiple play types have already been identified within the acreage and plans for the first exploration phase of four years, which has now commenced, includes seismic acquisition and the drilling of one exploration well.
Dana Gas Revenues Grow 21%
Dana Gas, one of Middle East’s largest regional private sector natural gas company, announces its financial results for the third quarter and nine month ended September 30, 2013 with a net profit of $28 million and $121 million (USD) respectively. Gross revenue for the third quarter was significantly higher at $170 million, an increase of 21% on Q3 2012. Earnings before interest, tax, depreciation, amortization and exploration (EBITDAX) was $93 million which was considerably higher by $6 million than in Q3 2012. Net profit remained flat year-on-year due to higher royalty and higher depreciation in line with higher production in Egypt. Accordingly, the Group posting a net profit of $28 million in Q3 2013 compared to $29 million in Q3 2012.
RINA opens Korean plan approval office
Busan, Korea. now looking after thirty-five newbuildings for international owners. Newbuilding Dept. authorities and the whole RINA staff. Mrs. Alberici and Mr. Italian Embassy in Seoul opened the office as guests of honor. engineers and 15 surveyors. RINA SpA is a Genoa-based classification society formed in 1861. (IACS). 18 million gt.
