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Maersk Oil

LR Wins Deal with Maersk Oil

Lloyd's Register (LR) won a contract to provide Maersk Oil with a comprehensive suite of risk-management services to support the offshore operator’s commitment to meet global demand for energy in an efficient, safe and environmentally responsible manner. The agreement requires Lloyd’s Register to support Maersk Oil’s global management of four key areas of operational risk -- hazard identification and risk assessment (HIRA), accident and incident investigation, management of change and contractor management. “Ensuring consistent standards of risk management across a global network of high-value offshore assets is an increasingly complex task. Operators often face challenges that arise from differing legislative regimes, work cultures and levels of asset maturity,” said Bjorn Inge Bakken, Chief Executive Officer, Scandpower AS, a member of the Lloyd's Register Group. “Lloyd’s Register is one of a very few independent assurance providers with the global reach and diversity of technical expertise to provide the innovative solutions which fully support multinationals in this area. We believe this agreement recognises that.” The geographical scope of the agreement covers Maersk Oil's current production areas, which include Denmark, the UK, offshore Qatar and Kazakhstan, from where the company sources a daily aggregate of about 700,000 barrels of oil equivalent.


Pragma, Maersk Oil Agree on $2.8M Deal

Pragma Systems announced it had agreed to a $2.8m contract with Maersk Oil North Sea to provide a technology support center. The three-year contract, with two one-year options, was won by competitive tender and is for the provision of a core team on site at Maersk Oil's Aberdeen office to undertake call management, security administration, desktop support, back-office services, network management and change management. (Source: The Herald)


Expro Wins Maersk Oil Contract

Expro won a multi-million dollar contract with Maersk Oil. The contract involves providing surface well testing, clean-up services and large bore subsea safety systems for Maersk Oil UK’s contracted mobile offshore drilling unit(s) in the UK North Sea. Running for the duration of three years with a possible two year extension, the contract has a value of £3.2 million. UK business development manager Tim Horsfall said: “Over the past few years


Atkins Gain Maersk Oil Engineering Contract

Mark Wood: Photo Atkins

Design, engineering and project management consultancy Atkins, says it has been awarded an engineering support contract covering three of Maersk Oil’s UK assets in the North Sea.   The Gryphon FPSO, Global Producer III FPSO and Janice FPU are planned for major offshore inspection, repair and maintenance (IRM) works this year, in addition to field expansion works. Maersk has committed to this plan by contracting a dedicated Dive Support Vessel (DSV) for 365 days.  


Maersk Oil Targets North Sea Lead

Maersk Oil is investing nearly $5 billion in Culzean and the first phase of Johan Sverdrup, one of Norway’s largest ever discoveries. (Image: Maersk Oil)

Maersk Oil says there is still huge potential value in the North Sea, citing projects like Culzean – which received board approval this month – and Johan Sverdrup, as the Danish oil and gas company aims to improve from its current rank of ninth to become a top-five producer in the region.   Maersk Oil informs it is looking for new long-term growth opportunities in the North Sea, investing heavily in projects and improving the efficiency of operations.   


Fitch: Maersk Gets Little Solace from Sectoral Diversification

Photo: Maersk Line

 The decision by A.P. Moeller-Maersk A/S to split into two separate divisions - Transport & Logistics and Energy - reflects the challenging fundamentals in the sectors in which it operates, and diminishing counter-cyclical benefits of operating in them in the current economic cycle, Fitch Ratings says.   We do not expect the split to significantly improve the performance of the group's separate units, although the increased focus may help long-term strategy execution. 


Maersk to Shut Down Denmark's Largest Gas Field

Photo: Maersk Oil

 Maersk Oil said that production from the Tyra field was likely to cease in 2018 as efforts to find an “economically viable solution” for full recovery had not been found.   "Maersk Oil has today issued a notification to the Danish gas market. This notification announces that an economically viable solution for full recovery of the remaining resources in the Tyra field has not yet been identified


Maersk Sells North Sea Stakes to RockRose

Photo: Maersk Oil

Maersk Oil, a unit of Danish conglomerate A.P. Moller-Maersk, has agreed to sell stakes in three North Sea fields to RockRose Energy, the latest new entrant into the ageing basin.   RockRose suspended trading on Wednesday before announcing it has agreed non-binding headline terms and a period of exclusivity from Maersk Oil North Sea UK to acquire its non-operated 7.4 percent interest in the Wytch Farm field, a 5.2 percent interest in the Scott fields and a 2


Harkand Secures Decommissioning Work in UKCS

David Kerr (Photo: Harkand)

Global  inspection, repair and maintenance (IRM) company Harkand, has commenced decommissioning work in the United Kingdom Continental Shelf supporting Maersk Oil UK’s work in the Leadon field. Earlier this year, the IRM firm secured a multi-million pound 12-month frame agreement with Maersk Oil in the region for the provision of its two dive support vessels (DSVs), the Harkand Da Vinci and Harkand Atlantis as well as supporting onshore and offshore personnel.


Maersk Falls into the Red

Photo by Maersk Line

 Maersk Line posted a steep decline in profit last year to $1.3bn, well down from the 2014 result of $2.3bn and below its most recent forecast as freight rate declines accelerated in the latter stages of 2015.   The net profit of Maersk Group in 2015 amounted to 0.925 billion USD, representing a decrease of 84% yoy. The company revenues decreased with 16% yoy to 40.3 billion USD. The profit decrease appears in almost all sectors of the company


Maersk Sheds Oil Tanker Division

(Photo: A.P. Moller-Maersk)

A.P. Moller-Maersk has agreed a $1.71 billion deal to sell its oil tanker division to its controlling shareholder, who in turn will enter an ownership consortium with Japan's Mitsui & Co.   The Danish conglomerate last year embarked on a restructuring to focus on transport and logistics


Maersk Wants Trade Finance Role

(File photo: Maersk Line)

Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry.   Moving into traditional bank territory and further down the shipping value chain, Maersk Line


Fog Lifts as Maersk CEO Remains Upbeat

File Image: The Madrid Maersk, one of Maersks largest boxships. CREDIT: Maersk

Container shipping fundamentals at best since 2010 - CEO.   Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges.  


Maersk Says It's Been Cyber Attacked

File photo: Maersk Line

Shipping giant A.P. Moller-Maersk, which handles one out of seven containers shipped globally, said the Petya cyber attack had caused outages at its computer systems across the world on Tuesday.   The attack came as computer servers across Europe and in India were hit by a major ransomware


Euronav Bags Five-Year FSO Deals

Photo: Euronav NV

 Euronav's joint venture with International Seaways (INSW) has signed a contract for five years for the FSO Africa and FSO Asia in direct continuation of the current contractual service.    The contract was signed with North Oil Company (NOC)


Maersk Fluid Technology Sees SEA-Mate Order Influx

Photo: MFT

Maersk Fluid Technology (MFT) has reported a recent influx of orders for its SEA-Mate Blending-on-Board (BOB) system as confirmation of industry demand for technological solutions that enable ship operators to blend fit-for-purpose cylinder lubricant compositions on board their vessels that match


Maersk: Shipping Recovery Coming

File Image: Credit Maersk

Maersk Line posts loss, but company sees improvement.   A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business.  


Maersk Reaches Key North Sea Tax Deal with Denmark

File photo: Maersk Oil

Shipping and oil company A. P. Moller-Maersk on Wednesday reached an agreement with the Danish state that means it will pay less tax on its North Sea oil and gas activities through 2025.   The deal, which has been under negotiation for months


Maersk, Denmark Close In On North Sea Oil Deal

File photo: A.P. Moller - Maersk

Oil and shipping conglomerate A.P Moller-Maersk could land a deal with the Danish government on oil and gas operations in the North Sea within days, political sources with knowledge of the negotiations told Reuters on Tuesday.   The deal will secure continued production in the Danish part


Asia-North Europe Box Rates Up 7 pct

File Image: Credit Port of Boston

Container spot freight rates from Asia to Northern Europe rose 7 percent to $961 per twenty-foot equivalent units (TEU), the Shanghai Containerized Freight Index showed on Friday.    Freight rates from Asia to ports in the Mediterranean rose $38 to $882 per TEU


A.P. Moller-Maersk Misses Q4 Forecast

File Image: A Maersk product tanker underway (CREDIT: Maersk)

Net operating loss after tax of $2.7 bln means dividend cut. Chairman to step down at end of March.   A.P. Moller-Maersk missed fourth-quarter profit expectations on Wednesday as the world's largest shipping company pressed on with changes, taking impairments


Finalists for 2017 Offshore Achievement Awards Announced

Last year’s OAA winners Photo Society of Petroleum Engineers

Finalists for the 2017 Offshore Achievement Awards, sponsored by TAQA, have been announced today {Friday 13 January}.   Hosted by the Society of Petroleum Engineers (SPE) Aberdeen Section, the annual awards recognise some of the industry’s most innovative technology developments as


Maersk -Tyra Decommissioning to Start Next Year

DBU Platforms Tyra East Photo Maersk Oil

Maersk Oil has on 30th December issued a notification to the Danish gas market announcing that an economically viable solution for full recovery of the remaining resources in the Tyra field has not yet been identified, and that production from the Tyra field is consequently expected to cease 1


Two Maersk OSVs Sink off of France

A.P. Moller-Maersk said on Thursday two of its offshore oil industry supply vessels sank off the coast of France earlier in the day as they were being towed for scrapping in Turkey.   It said the two vessels, Maersk Searcher and Maersk Shipper


Moody's Downgrades Maersk's Credit Rating

File photo: Maersk Line

Moody's downgraded A.P. Moller-Maersk's credit rating on Tuesday, piling pressure on the world's biggest container shipper as it juggles a major restructuring with a multi-billion dollar acquisition of a German rival.   Moody's said the downgrade from Baa1 to Baa2 with a negative outlook






 
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