Mexican Gulf News

The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems, umbilicals, risers, flowlines and the large anchor handlers and subsea support vessels that will install and maintain the elements.At the same time…

Australian oil and gas company BHP, working to develop the Trion field offshore Mexico, has hired DNV GL to verify that the new infrastructure built for the Trion project is compliant with local and global safety, as well as other requirements. BHP acquired the Trion asset in Mexico’s first-ever Deepwater Bid Round in 2016. The Trion field encompasses an area of 1,285 square kilometers and is located in the deep waters of the Perdido belt. BHP is the operator holding a 60% interest in the development and PEMEX is the non-operating partner with a 40% interest.Last week…

The National Ocean Industries Association (NOIA) Board of Directors has elected Galen Cobb, Vice President of Industry Relations of Halliburton, as Chairman and Matt McCarroll, President & CEO of Fieldwood Energy, as Vice Chairman for the 2020-21 term. Cobb and McCarroll were confirmed in their positions during a virtual Board Meeting today.NOIA President Erik Milito said, “As the offshore industry continues to navigate unprecedented energy uncertainty, Galen and Matt’s leadership will be a steadying factor.“The American offshore industry provides incredible benefits, and truly lifts society through safe and environmentally sustainable energy production. Despite the historic challenges facing our industry, the U.S.

Dry bulk operator Clipper Bulk announced it will reduce onshore staff in an effort to narrow costs amid historically low freight markets dragged down by the coronavirus pandemic.“The dry cargo market has struggled with unsustainably low freight rates for years, but the COVID-19 pandemic has made matters worse and caused a steep downturn in demand and freight rates. We need to adapt to this new reality, and we are making these changes to stay ahead of the situation,” said Clipper Group CEO Peter Norborg.The company said Thursday it will cut 24 out of 91 jobs ashore by the end of April…

International dry bulk shipping company Clipper Group  has launched a comprehensive restructuring involving a large number of layoffs, especially at the company's Copenhagen headquarters.The dry bulk carrier announced a series of initiatives to strengthen its business platform amid continued weak markets.Initiatives include agreements to strengthen the company’s financial position, downsizing of organization and office network, other cost savings, changes to Senior Management as well as a more focused market approach, said a press release from the operator of Handysize and Supramax vessels.“We have been challenged by the steep, unexpected market downturn. Today, we are taking the steps required to run a viable, profitable dry bulk operation, even in depressed markets.

Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers, which were hit hard by the steep plunge in oil prices from 2014. Offshore projects, which are more costly than onshore work and take years to develop, became less attractive after oil prices fell to below $30 a barrel in 2016.Global crude prices have since recovered to above $70, renewing producer interest in offshore basins around the world, including Brazil and the U.S.

Castor Networks has acquired Watum Solutions effective immediately, a prominent supplier of IT networks and satellite communication for the shipping and offshore industry. Watum Solutions is specialized in designing, installing and maintaining IT and VSAT systems on board of commercial vessels, offshore vessels and drilling platforms and is active in Europe, Africa, the Mexican Gulf, the Caribbean Sea and the Middle-East. By integrating Watum in Castor, a one stop shop for the shipping and maritime industry is created…

Three workers were killed and at least seven injured when a fire broke out on a Pemex oil processing platform in the Gulf of Mexico, but the latest in a string of incidents is now under control, the Mexican oil giant said via Twitter on Sunday. A spokesman for Pemex said oil continued to be pumped but that the company was still evaluating any impact on production. The platform did not have to be evacuated, according to a tweet. The fire occurred on the offshore Abkatun A Permanente processing platform in Mexico's oil-rich Bay of Campeche where a fire claimed seven lives in April last year, causing crude output from four nearby fields to plunge nearly 70 percent.

Mediterranean Shipping Company announced improvements to its MSC’s East Coast South America (ECSA) service to and from the US & Mexican Gulf, effective from the first week of July. Deploying 7 x 5,500 TEU vessels between them, MSC and Hamburg Süd will make the roundtrip from US/MEX Gulf to Brazil via Panama & Colombia in 49 days. 5,500 TEU vessels.

Aker Solutions won its first order for a project offshore Mexico as it secured a contract from Saipem to supply umbilicals for the Pemex-operated Lakach deepwater natural-gas field. Aker Solutions will deliver electro-hydraulic steel tube umbilicals of about 73 kilometers (45 miles) that will help connect Mexico's first subsea gas development to onshore processing facilities. The field is located about 98 kilometres (60 miles) southeast of Veracruz at depths of between 900 and 1,200 meters in the Gulf of Mexico. It is targeted to supply 400 million standard cubic feet per day. "The Lakach field is Mexico's first deepwater subsea development by Pemex and Aker Solutions is proud to deliver the first umbilical to the Mexican Gulf of Mexico…

International law firm Ince & Co (Singapore) LLP represented Oro Negro in its international bond issuance, an offering of US$725-Million Notes due 2019. Partner Martin Brown described the issue as very good news for both the global high yield market and the oil services sector including the jack-up rig market operating in the Mexican Gulf of Mexico. Ince & Co explain that the purpose of the issuance is to refinance the acquisition of three already delivered new jack-up rigs, to finance the acquisition of a fourth new jack-up rig, and for general corporate purposes.

Seadrill contracts with LLOG Bluewater Holdings, LLC, for employment of the new-build drill-ship, 'West Neptune', offshore Gulf of Mexico. The contract duration is a minimum of three years plus an option for a one-year extension at mutually agreed rates. The potential revenue for the primary contract term is approximately US$662 million. The West Neptune is expected to be delivered to Seadrill from the Samsung Heavy Industries shipyard in Geoje, South Korea, in early June 2014.

The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has completed the Final Environmental Impact Statement (FEIS), with environmental analysis that will support decision-making concerning oil and gas lease sales scheduled in the Gulf of Mexico over the next five years. The FEIS provides baseline analysis in support of the 10 lease sales scheduled in the Central and Western Gulf of Mexico planning areas over the next five years and evaluates baseline conditions and potential environmental effects of oil and natural gas leasing, exploration, development and production in these two areas. BOEM will continue to evaluate new scientific and environmental information over the course of the coming years and to integrate that information in planning for individual lease sales.

Fairmount Marine’s tug Fairmount Alpine has delivered the semi submergible drilling rig Ocean Yorktown safely in Brownsville, US, after a 5,400 miles tow from Rio de Janeiro, Brazil. Fairmount Marine was contracted in July by Diamond Offshore, a leading deepwater drilling contractor headquartered in Houston, to tow the semi submersible drilling rig Ocean Yorktown to the Mexican Gulf region. South Africa. The tug was instructed to mobilize towards Ro de Janeiro. Upon arrival in…

Fairmount Marine’s tug Fairmount Alpine has delivered the semi submergible drilling rig Ocean Yorktown safely in Brownsville, US, after a 5,400 miles tow from Rio de Janeiro, Brazil. Fairmount Marine was contracted in July by Diamond Offshore, a leading deepwater drilling contractor headquartered in Houston, to tow the semi submersible drilling rig Ocean Yorktown to the Mexican Gulf region. At that moment Fairmount Alpine just finished a special survey in Durban, South Africa. The tug was instructed to mobilize towards Ro de Janeiro.

Jacques de Chateauvieux, Chairman and Chief Executive of BOURBON, said, "the oil industry is looking to control capital expenditure and operating costs and this has led to an oil services market that is temporarily dominated by short term contracts and a reduction in usage and pricing. First half revenues amounted to EUR482.1 million, up 11.2% over first half 2008. The dollar strengthened 15% against the euro with the dollar/euro exchange rate at 1.33 during the first half year compared with 1.53 for the first half of 2008. At constant exchange rates, revenues were practically stable year on year with strong growth in the Offshore Division compensating for a fall in the Bulk Division.

In April 2007, IHC Merwede Offshore & Marine was granted the order to design and build the new Multi Purpose Offshore Support Vessel for Hornbeck Offshore Services. The vessel’s keel was laid on 23 July 2008 and will bear the name Hos Iron Horse. The naming of the vessel will take place upon delivery in the third quarter of 2009. Hornbeck Offshore Services intends to use the vessel in first instance in the shallow waters of the Mexican Gulf. With her deepwater cranes, deck cranes and moonpool the vessel can be used in a wide range of offshore construction activities.

Signal International, LLC has announced that its Pascagoula Mississippi east shipyard will upgrade The Zagreb I, a semi submersible drilling rig, for Crosco; the offshore drilling contractor headquartered in Croatia. The work is scheduled to commence in mid-February upon completion of a wet tow of the rig to the Gulf of Mexico from the Ivory Coast of Africa. The work will include replacement of deck cranes, living quarters upgrade, mud system modifications and regulatory authority special survey. It is estimated that the work will take two months to complete. Regarding this project, Dick Marler, Signal’s Chairman, comments: “This work affords Signal International another opportunity to build upon its track record of excellence in the business of offshore rig upgrades.

It seems to be a soap opera without an end. "It is crazy…makes no sense at all," is a common observation. If you are in the oil and gas business, the number one question is, "When is the drilling going to pickup?" It is a question without an answer…at least through the first quarter of 2004. "Normally when prices are low and oil rises about $25 a barrel and gas goes above $2.50 per million cubic foot, everybody goes back to work," noted Roy Breaux, Jr., president of Breaux Bay Craft, Loreauville, La. a leading builder of crew/supply boats. "We drill ourselves out of recessions, but not this time, at least not yet" Breaux said. Breaux echoes the sentiment of almost everyone in the industry "The answer must lie in Houston because that's where the decisions on when to drill come…