Oil And Gas News

18 Nov 2019

New Contracts, Extensions for MMA Offshore

Image: MMA Offshore

MMA Offshore, the provider of marine solutions and expertise to the offshore oil and gas industry, has been awarded a number of new contract awards and extensions.AGR Australia has awarded MMA a two-vessel contract supporting the Noble Tom Prosser Rig as part of the Victorian government’s CarbonNet Project, said the Australian company.The contract is expected to start late this month with a duration of about 45 days, the owner and operator of 30+ offshore supply vessels said.Esso Australia Pty Ltd has awarded MMA a three-vessel contract…

18 Nov 2019

BW Offshore Completes Bond Issue

Image: BW Offshore

BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.The Oslo Stock Exchange-listed company said that the settlement of the new bond issue is scheduled for 4 December 2019.The existing NOK bonds have either been repurchased as part of the offering or will be called with settlement mid-January 2020.In combination with the USD 297.4 million convertible bond issue announced on 5 November 2019…

18 Nov 2019

Oil Majors to Raise $27Bln in Selling Spree

Pic: Rystad Energy

Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing shareholders who are calling for stricter capital discipline.“The expected transactions mean some of the majors are poised to exit certain regions…

20 Nov 2019

Putting Palatka Back on the Map

SJSB President and Owner, Steven Ganoe

Diverse and conveniently located, St. Johns Ship Building has quickly developed into a reliable partner for its many repeat customers. Today, and as a direct result, a lot more people know exactly where Palatka, Florida is located.On the St Johns River, just 60 miles south of Jacksonville, lies the sleepy town of Palatka, Florida. Founded as a trading post in 1821, its location on the highly navigable river made the area attractive to orange growers and timber men alike.In its heyday between 1875 and 1900…

18 Nov 2019

Wintermar Charters PSV Duo in Indonesia

© xmentoys / Adobe Stock

Wintermar announced on Monday it has secured contracts for two platform supply vessels (PSVs) to a major oil and gas company for a total of seven years including options.The PSVs will provide deck and cargo supply runs to support the drilling operations in Eastern Indonesia.Sugiman Layanto, Managing Director of PT Wintermar Offshore Marine Tbk said, "The project requires Dynamic Positioning 2 (DP2) operations while the vessels are approaching the rig. With our long experience in offshore deep water drilling campaigns since 2011…

15 Nov 2019

Maersk: Container Outlook Uncertain

© Gudellaphoto / Adobe Stock

A.P.

14 Nov 2019

G2 Ocean Targets New Markets

Image: G2 Ocean

G2 Ocean,  a joint venture of two of the world's leading breakbulk and bulk shipping companies - Gearbulk and Grieg Star, has opened a new office in Hamburg, Germany, to achieve a stronger market position, and in response to increasing demand for project cargo services.“Germany is the manufacturing and engineering capital of Europe, and by establishing a base here, we are able to further enhance our business and service offerings in the region,” Vice President Innovation/Project Cargo Leif Arne Strømmen in G2 Ocean said.G2 Ocean’s newest addition to the team…

14 Nov 2019

LNG Imports Jump in Poland

Image: PGNiG

Polish state-controlled oil and gas company Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) has reported a jump in liquefied natural gas (LNG) imports for the first three quarters of the year.The volume of LNG imported in the nine months to September 30th 2019 was 27% higher than in the same period of 2018, amounting to 2.48 bcm after regasification, said the gas firm.LNG supplies’ share in total gas imports was about 23%, compared with about 18% a year earlier.The Group received 22 LNG deliveries from the beginning of this year to the end of September…

14 Nov 2019

USCG PSC Equals meaningful Polar Presence

An emperor penguin poses for a photo in front of the Coast Guard Cutter Polar Star in McMurdo Sound near Antarctica on Wednesday, Jan. 10, 2018. The crew of the Seattle-based Polar Star is on its way to Antarctica in support of Operation Deep Freeze 2018, the U.S. military’s contribution to the National Science Foundation-managed U.S. Antarctic Program. U.S. Coast Guard photo by Chief Petty Officer Nick Ameen.

The Coast Guard needs a ship that can do more than just break ice; it needs a multi-mission ship to provide for the nation’s security, asserting its sovereign rights, and protecting its long-term economic interests. That ship is the Polar Security Cutter.Since Russia cashed the check in 1867 for the purchase of Alaska the U.S. has been an Arctic nation. Today, it is one of eight countries that have territorial land or seas above the Arctic Circle or in the polar region (six of those countries have Arctic Ocean coastline or an exclusive economic zone above the Arctic Circle). The U.S.

13 Nov 2019

Profab Gets Apsara Gig from KrisEnergy

A representation of the Apsara oil field arrangement in Block A, offshore Cambodia. Image: KrisEnergy

Southeast Asia-focused oil and gas company KrisEnergy Apsara Co signed a conditional letter of award with PT Profab for the supply of a minimum facilities wellhead “mini-platform” for the Apsara oilfield – Cambodia’s maiden oil development.According to a press note from the Singapore-based parent company KrisEnergy, the scope of work covers key procurement, and the fabrication and construction of the jacket, topsides and other related accessories for the Mini-Platform, including…

13 Nov 2019

Normand Clipper Secures Long-term Contract

Normand Clipper (Photo: Solstad Offshore)

Norwegian ship owner Solstad Offshore said it has been awarded a long-term contract with Global Offshore, part of the Global Marine Group for CSV Normand ClipperThe contract will commence in the first quarter of 2020 and have a duration of three years firm plus five years options thereafter.Global Offshore will utilize the vessel to support cable lay operations within the renewable energy and oil and gas sectors.

13 Nov 2019

TechnipFMC Sells Subsea Vessel

Image: TechnipFMC

UK-based player in subsea, onshore/offshore and surface projects TechnipFMC has entered into a memorandum of agreement (MOA) to sell the Global 1201 S-lay and heavy-lift and pipelay vessel in an effort to optimize the profile and size of its subsea fleet.The MOA is subject to certain conditions precedent to complete the transaction. The global oil and gas services company expects to complete the sale in December as these conditions are met, including delivery of the vessel in…

12 Nov 2019

G42, ADNOC JV for AI in Oil and Gas

Photo: G42

With a goal of creating more artificial intelligence (AI) led solutions for the oil and gas sector, Abu Dhabi National Oil Company (ADNOC)  has signed a deal with compatriot technology company Group 42 (G42) to create a new joint venture.The JV will be tasked with developing and commercializing market-leading AI products for the energy sector.The agreement was signed at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) by Omar Suwaina Al Suwaidi, Director, Executive Office Directorate, ADNOC, and Peng Xiao, CEO of G42.

08 Nov 2019

First Commercial Cargo Loaded from Tango FLNG

FLNG Tango (File photo: Exmar)

Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday.Argentina's export joins a wave of new supply flooding the spot market which has depressed Asian spot prices to their lowest in a decade for this time of the year.The state-owned firm issued a tender which closed on Nov. 6 to sell 2.1 trillion British thermal unit (Tbtu) of LNG for loading from FLNG Tango, the liquefaction vessel off Bahia Blanca…

07 Nov 2019

Huisman Crane for Bokalift 2

Image: Huisman

Dutch offshore wind equipment specialist Huisman has been selcted by Royal Boskalis Westminster to deliver a 4,000mt Offshore Mast Crane (OMC) to be installed on their crane vessel Bokalift 2."This commitment reinstates Boskalis’ confidence in Huisman as mission equipment supplier after successful delivery of the 3,000mt Offshore Mast Crane for the Bokalift 1 in 2017," said the worldwide specialist in renewable offshore wind and geothermal energy, oil and gas.With a lifting capacity of 4…

07 Nov 2019

LOC Group Wins BP Contract

LOC Group, a provider of services to the offshore oil and gas industry, announced it has become the third-party provider for marine assurance and inspection with BP Egypt.LOC Egypt has been awarded a two-year marine assurance and inspection contract by BP Egypt. This is the first time LOC Egypt has been awarded work by BP, the major oil and gas operator in Egypt. The First vessel inspection is expected to commence imminently to ensure efficient participation in their offshore campaign/Project.Tamer Gamil, LOC Egypt Country Manager, said, “This is the first agreement we have won with BP Egypt, which demonstrates the considerable progress we have made as an organization since opening our office here in January 2018.”R V Ahilan…

05 Nov 2019

EGPC Leads Oil, Gas Discoveries in Q3 2019

Image courtesy: Egyptian General Petroleum Corporation

Egyptian General Petroleum Corporation (EGPC) led globally among companies in the third quarter (Q3) 2019 in terms of the highest number of oil and gas discoveries, said GlobalData.Of the total 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these, three were conventional oil discoveries while the remaining was a conventional gas discovery, said a report from GlobalData.Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, explained: “Of the three conventional oil discoveries made by EGPC in Q3 2019…

04 Nov 2019

Kuok Makes Cash Offer for POSH

 Image courtesy: PACC Offshore Services Holdings

The Kuok Group, through its investment vehicle Quetzal Capital, announced a voluntary conditional cash offer to buy out Singapore-listed PACC Offshore Services Holdings Ltd (POSH).Quetzal Capital said that the conditional offer to acquire all of POSH for S$0.215 a share, marking a 97.2 percent premium over the stock’s closing price on 30 October.The offer price represents a premium of approximately 109.8%, 96.2%, 69.6% and 35.3% over the one-month, three-month, six-month and twelve-month volume-weighted average prices respectively…

04 Nov 2019

Shearwater Bags Seismic Project Offshore S. Africa

Image: Shearwater GeoServices

The provider of geophysical marine seismic acquisition and processing services,  Shearwater GeoServices has been given a conditional letter of award for a 2D seismic acquisition and fast-track processing project by Total E&P South Africa B.V.The survey at block 11B-12B will be Shearwater’s first project offshore South Africa, said a press note from the Norwegean Oil and gas exploration service provider.The multi-purpose vessel SW Cook will acquire the initial 3,650-linear km (2,268-mi) program.

01 Nov 2019

SGRE Lands World’s Largest Floating OWF

Image: Siemens Gamesa Renewable Energy

Spanish-based engineering company Siemens Gamesa Renewable Energy (SGRE) said that the world’s largest floating wind power plant will be installed in Norway, equipped with 11 Siemens Gamesa SG 8.0-167 DD turbines.Scheduled to be commissioned in late 2022, Hywind Tampen will be the first ever floating wind power plant to power offshore oil and gas platforms.“We are pleased to have received the firm order from Equinor to be the supplier of this ground-breaking project. Thanks to our strong collaboration and joint focus on innovation…

31 Oct 2019

Oil and Gas Industry Adopts VR

Pic: GlobalData

The oil and gas industry is witnessing wide-scale deployment of virtual reality (VR) technology across its value chain, according to GlobalData.According to the report, ‘Virtual Reality in Oil & Gas’, VR is finding its way into upstream, midstream and downstream sectors with applications in the simulation of new processes, analysis of project designs, reviewing of maintenance requirements and planning disaster responses.Ravindra Puranik, Oil and Gas Analyst at GlobalData, said: “Over time…

31 Oct 2019

Offshore Wind: a Freshening Breeze?

AdobeStock_CREDIT Yauhen Suslo

July brought news about offshore wind. There was something for everyone: optimism, disappointment, and construction, too.Finally, starting with Dominion Energy’s Coastal Virginia Offshore Wind Project, a joint venture with Danish wind developer Orsted is underway. True, this is a small project – just two wind turbines to be installed 27 miles east of Virginia Beach. But considering all the preceding hurdles, news about Dominion blew in as proverbial, hopeful fresh air. Surely…

31 Oct 2019

New 3D Geophysical Survey Vessel Named

Seismic vessel Tansa (Photo: NYK Group)

On September 29, a delivery ceremony for a new 3D geophysical seismic survey vessel was held at the port of Tokyo and attended by NYK chairman Tadaki Naito.The new vessel, Tansa, will be operated by Ocean Geo-Frontier Co. Ltd (OGF), a company jointly owned by NYK and others.Through a consignment service agreement with OGF and JOGMEC, NYK is entering the geophysical survey business at the most upstream part of the energy value chain and making efforts to accumulate experience and…

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

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