California to Ban Crude from Trump Offshore Drilling Plan
California will block the transport of petroleum from new offshore oil rigs through its state, officials told Reuters, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters. California's threat to deny pipeline permits for transporting oil from new leases off the Pacific Coast is the latest step by states trying to halt the biggest proposed expansion in decades of federal oil and gas leasing. Officials in Florida, North and South Carolina…
MMS Moving to Mandate Rig Worker Safety Standards
According to a June 23 report from The New York Times, the worker-safety standards in place for offshore oil rigs before the Deepwater Horizon blast two months ago were voluntary and developed in consultation with the oil industry. The report said Doug Slitor, now the acting chief of offshore regulatory programs at the reorganized MMS, told members of the House Education and Labor Committee that his office is now working to turn the once-recommended worker safety guidelines -- drafted with the American Petroleum Institute -- into a mandatory program. (Source: The New York Times)
Dubai Drydocks World Eyes Asia Expansion
Dubai Drydocks World, the shipbuilding arm of state investor Dubai World, is eyeing yards in China, India and Vietnam, to expand capacity in the hot business of rig building with oil at records near $100 a barrel. Chief executive Geoff Taylor told Reuters on Thursday that the company was part of a joint venture which is in advanced talks to buy a small unlisted shipyard in China's Jiangsu province along the Yangtze River delta. Taylor said the deal was likely to cost Drydock World a total of $55 million. After the acquisition, likely to be completed in the next few weeks, the company plans to inject more cash to turn the yard into a larger shipbuilding and repair facility, he said.
Transocean Amends Drilling Contract
Transocean announced that an agreement has been reached with the incumbent customer to amend the drilling contract on the harsh environment semisubmersible Transocean Leader. The rig experienced equipment breakdown that could not be repaired timely, providing the customer with the right to cancel the contract. However, given the otherwise efficient performance of the rig, the customer elected to complete its program with the Leader and Transocean agreed to amend the drilling contract, signed today and effective January 13, 2018, whereby the dayrate and contract duration were modified.
Northern Offshore Sells Semi-Sub
Northern Offshore announces it has sold its semisubmersible Energy Driller to an unnamed party for conversion to alternative use. The unit had previously been cold stacked at a shipyard in Bahrain following completion of a term drilling contract in India. Northern Offshore previously sold the drillship Energy Searcher in late 2016. Chairman and (Interim) CEO Dr. Northern Offshore is a global offshore drilling company historically operating in the North Sea, West Africa, South Asia, Near East and Southeast Asia.
Diamond Offshore Revenue Beats Estimates
Diamond Offshore Drilling Inc's fourth-quarter revenue beat analysts' estimates on Monday, helped by higher demand for its ultra-deepwater rigs. The company's revenue from its ultra-deepwater rigs rose more than 24 percent to $288.28 million in the fourth quarter. Total revenue fell nearly 12 percent to $346.21 million, but beat analysts' estimate of $331.91 million, according to Thomson Reuters I/B/E/S. "Although market conditions continue to be challenging, we were able to secure additional work for the Ocean Valor and Ocean Valiant…
Senate Democrats Want Inspection of All Rigs
According to a May 20 report from RTTNews, Senate Democrats are urging President Barack Obama to order inspections of all offshore oil rigs. Senate Majority Leader Harry Reid, D-Nev., was joined by Senators Richard Durbin, D-Ill., Charles Schumer, D-N.Y., Patty Murray, D-Wash., and Robert Menendez, D-N.J., in sending a letter to Obama asking him to order the inspections. (Source: RTTNews)
Drilling Regulator Wants Higher Pay for Inspectors
According to a report from the Associated Press, The head of the U.S. agency responsible for inspecting offshore oil rigs said he wants to raise salaries and hire retired industry engineers to boost the competency of a staff that has been blamed for missing key problems with BP's failed drilling operation in the Gulf. Michael Bromwich, director of the Bureau of Oceans Energy Management, Regulation and Enforcement, told The Associated Press that the government's reputation for lower wages could make hiring the most talented people more difficult. (Source: The Associated Press)
O3b Networks, Netcom-Africa Provide Connectivity
O3b Networks announced that the company has signed a multi-year, multi-million dollar deal with Netcom Africa, a provider of satellite and wireless broadband solutions to provide low latency, high capacity broadband connectivity to ships and offshore platforms in Nigeria utilizing O3bs Medium Earth Orbit technology. Nigeria is one of the world’s largest oil producing nations with most multinational oil and gas corporations operating in the region. Despite the availability of multiple submarine cable networks on the coast of the country, service providers have struggled to meet the unique needs of the oil and gas sector. The bandwidth will be delivered over the city of Lagos, the Niger Delta region as well as the offshore oil rigs that comprise approximately 50 platforms.
Offshore Rig Gas Leak Kills Two
Two Brazilian maintenance workers died as a result of a toxic gas leak at an offshore oil rig operated by the state oil firm Petrobras. "The workers died when doing maintenance work on a drainage tank at the B-37 platform on the Marlim block in the Campos basin on Wednesday evening," said a Petrobras spokesman, adding that the workers were employees of Ultratec engineering firm. He said it was yet unclear how the leak had occurred and what gas caused the deaths. There were no other casualties and there was no damage to the platform. "The leak was stopped at the same moment on Wednesday. A Petrobras commission is investigating the case." Campos Basin accounts for nearly 80 percent of Brazil's overall crude oil output.
DP Offshore Safety Vessel Launched at Zamakona Yard
Zamakona Yards say they have successfully launched the 'Ocean Marilin' for owners Atlantic Offshore A.S. at their shipyard in Pasajes in Northern Spain. The shipbuilder explains that the principal mission of the vessel will be to provide immediate attention in emergency situations to offshore oil rigs and installations. Being especially adapted to the severe climatic conditions of the North Sea, it will commence operations for the Oil Company TOTAL in the second semester of 2014.
Zamakona Launches North Sea Emergency Vessel
The Zamakona Yards Group said it has successfully launched the vessel Ocean Marilin in its installations in Pasajes in Northern Spain on January 31. The vessel is the second which Zamakona Yards has launched of the three vessels contracted with the Norwegian shipping company, Atlantic Offshore A.S. The principal mission of the vessel will be to provide immediate attention in emergency situations to Offshore Oil Rigs and Installations. Being especially adapted to the severe climatic conditions of the North Sea…
Hyundai Heavy Closes Onsan offshore
Hyundai Heavy Industries has temporarily shut one of its two factories making offshore oil rigs - Onsan plant in South Korea - due to downturn in the global oil and gas industry. The closure Onsan underscores the dire state of the country’s big shipbuilders as dearth of orders as the crude price rout forces international oil companies to cut spending. “Our ongoing projects will complete in March. From then we do not have a further order to work on, and the operation will stop until we get a new one,” a company spokesman told local media.
World's Largest Crane Ship Arrives in Rotterdam
Pieter Schelte Heerema, one of the largest ships in the world with a length of more than three football fields, arrives at the port of Rotterdam for the last works before it is operational. Pieter Schelte Heerema, one of the largest ships in the world, which is capable of lifting oil platforms weighing almost five times the weight of the Eiffel Tower, arrived Thursday in Rotterdam for the last work before it goes into service. The nearly 400-metre (440-yard) long crane ship arrived in Europe's largest port from South Korea where it was built at DSME’s Okpo shipyard, ahead of starting work lifting rigs and laying pipelines this summer. The vessel is 124m (407ft) wide and 382m (1,253ft) long – as long as the Empire State Building is high.
Fred. Olsen: Oil Rig Market Soft into 2015
Norwegian offshore oil rig operator Fred. Olsen Energy said that recent market activity is indicating lower rig rates and shorter term contracts, and this market softness could last into 2015. "The most recent market fixtures are indicating some softening of rates and an acceptance of shorter term contracts," it said in it annual report on Wednesday. "The UK and Norwegian markets are expected to experience a more limited impact of the recent slowdown, partly because demand is relatively robust but also because a large proportion of the fleet is contracted on a multi-year basis," it added.
China Contends for Slice of Oil Rig Construction Business
According to Reuters, China is emerging as a strong contender to the traditional offshore oil rig manufacturing powerhouses of Singapore and South Korea as shipyards such as COSCO Corp fight for a bigger market share in a deepwater exploration boom. China started making jack-up rigs for shallow-water drilling and semi-submersibles for deepwater operations about seven years ago. In that short span of time, industry data shows it managed to secure a fifth of the $72 billion orders placed, tempting customers with aggressive pricing. China is able to tempt customers by aggressive pricing, but big customers still favour Korea and Singapore, as Chinese quality and reliable delivery are concerns, says the Reuters report.
Petrobras Yet Again Delays Details of Sinking
Brazil's state oil giant Petrobras on Friday again postponed, this time until Monday, the much-expected release of details on the causes of last month's sinking of its biggest offshore oil rig. The company said members of its investigation team would now only speak of their probe to the media and reveal some preliminary findings on Monday. Officials said the team of investigators needed more time to consolidate their report. The latest postponement delays the preliminary report on the debacle by three days. The company should on Monday give a new time table for the investigation in addition to presenting a preliminary analysis tragedy. The investigation is making use of Norway's shipping classification agency Der Norske Veritas as independent consultants.
Chinese South China Sea Drilling Illegal Says Vietnam
Vietnam says China's plan to move its first deep-water drilling rig into the disputed South China Sea, one of Asia's most volatile hotspots, is illegal and has called for the rig to be removed from what it says is Vietnam's territorial waters. The $1 billion offshore oil rig called Haiyang Shiyou 981 owned by the China's state-run CNOOC oil company has been drilling south of Hong Kong. Maritime Safety Administration of China (MSAC) on Saturday published an announcement on its…
Agenda For DNV-GL Regional Offshore Committee Meet
His Excellency Khamis Juma Buamim, Chairman of Drydocks World and Maritime World and chairperson of the DNV GL Offshore Technical Committee outlined the key focus areas for the Regional Committee meeting that will be held in Dubai on October 23, 2014. This was discussed at a meeting with DNV representatives Mr. Bijali M.P., Regional Manager – Offshore Class, Middle East & India and Mr. Ralph Becker, Regional Manager – Business Development, Middle East & India. H.E. Buamim discussed the importance of constructive cooperation to push the maritime industry and allied operations in developing economic relations and investment activities in targeted areas and emerging markets.
Rowan Profits Jump in 3Q
Rowan Companies, Inc. said profit in the third quarter jumped 50% on overseas demand for its offshore oil rigs and drilling services. The Houston drilling contractor and equipment maker said profit in the three months ended Sept. 30 rose to $130.8m, or $1.16 a share, from $87m, or 78 cents a share, in the year-earlier period. Profit in the most recent quarter included a penny a share in gains on asset sales. Revenue rose 20% to $502.2m, short of the $530m anticipated by Wall Street. Shares fell 2.1% to $38.17 by the close compared with a 1% drop in the Philadelphia Oil Service Index. Rowan said revenue from its drilling operations rose 27% to $369m as the pace of activity on its offshore rigs quickened, and it got paid more for daily operations.
GMN WebXaccelerator for Ship-to-Shore Comms
Global Marine Networks introduced the GMN webXaccelerator for ship-to-shore and remote communications needs for the commercial fishing, marine transport, cruise ships, offshore oil rigs, and first-response communications coordination markets. The webXaccelerator is a data accelerator and control router that gives users of satellite and other wireless data systems control of their satellite data installations, while providing data speeds up to five times faster than uncompressed rates.
Trico Marine Rated As Strong Buy
Deutsche Banc Alex.Brown said on Thursday that it had started coverage of Trico Marine Services Inc., an energy services provider, with a strong buy rating and a $20-a-share price target. Trico shares closed at $16-1/16 on Wednesday. Deutsche Banc Alex Brown analysts said shares could rise from earnings leverage due to offshore oil rig use in the Gulf of Mexico and the North Sea, expanded deep-water markets of West Africa and Brazil, a projected earnings recovery, and a share price that trades at a discount to its peers. Trico is expected to report a loss of $.63 a share in 2000 and earn a profit of $.67 a share in 2001, Deutsche Banc Alex.Brown said in a research note.
RSA Invests in Shipbuilding Firm
The Retirement Systems of Alabama has become the largest investor in Signal International, with a $100m purchase of shares in the shipbuilding firm that will move its headquarters from Pascagoula, Miss., to RSA's new skyscraper in Mobile. RSA bought about $100m worth of shares in the $240mcompany, the company said. Signal builds and repairs ships and offshore oil rigs. The firm employs about 3,000 people in Mobile, Pascagoula and in the Texas cities of Houston, Port Arthur and Orange. In the next six to nine months, Signal will move its headquarters from Pascagoula to the 35-story RSA Battle House Tower. The company leased 6,000 square feet of office space. RSA was approached about the purchase by Washington, D.C.-based ACON Investments.