Oil And Gas Activity News

17 Sep 2019

TGS, Quantico Join for AI Seismic Inversion

Image: TGS

TGS and Quantico Energy Solutions announced a technology collaboration to leverage their respective offerings in seismic data, AI-based well logs, and artificial intelligence (AI)-based seismic inversion.TGS is a provider of multi-client geoscience and engineering data for exploration & production (E&P) companies. Quantico is a AI company focused on subsurface solutions for E&P companies.The joint solution addresses the critical challenges in earth modeling workflows; specifically…

05 Mar 2019

East Anglia Expecting $77 Bln in Offshore Projects

Image: Nautilus Associates

Based on the latest forecasts, engery-sector specialists Nautilus Associates claim more than £59 billion ($77 billion) could be invested in new offshore energy and infrastructure projects between now and 2040 in the Lowestoft and Great Yarmouth Enterprise Zones.Johnathan Reynolds, director at Nautilus Associates, said, “We are seeing huge new investments in new offshore wind projects off the East Anglian coast, with an annual operational spend close to £1.3 billion per year by 2025.

19 Feb 2019

2021 to See 33 More FPSOs

Graph: Rystad Energy

A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021 as oil and gas activity picks up in the offshore sector.Norwegian oil and gas intelligence firm Rystad Energy reports that 15 of the FPSOs will require production capacity of more than 80,000 barrels per day.Rystad said that the high capacity demand would come mainly from the developments in Guyana and Brazil where operators such as ExxonMobil, Equinor, and Petrobras…

31 Jan 2019

Kirby Announces 2018 Q4/FY18 Results, Deal to Buy Cenac's Marine Fleet

Kirby Corporation announced a net loss attributable to Kirby for the fourth quarter ended December 31, 2018 of ($24.4) million, or ($0.41) per share, compared with earnings of $231.3 million, or $3.87 per share, for the 2017 fourth quarter. Excluding certain one-time charges, 2018 fourth quarter net earnings attributable to Kirby were $44.9 million, or $0.75 per share. Consolidated revenues for the 2018 fourth quarter were $721.5 million compared with $708.1 million reported for the 2017 fourth quarter.For the 2018 full year…

17 Nov 2017

Cooperation for Oil Spill Preparedness in Africa

Photo: GIWACAF

A regional conference of countries in west, central and southern Africa has committed to continue to work at both national and regional levels to boost preparedness to deal with oil spill incidents which could be devastating both for the marine environment and financially. The conference (6-9 November) in Abidjan, Côte d'Ivoire, was hosted by CIAPOL, the Ivoirian pollution control centre. It brought together industry and government focal points from 20 out of 22 west, central and southern African countries covered by the Global Initiative for West, Central and Southern Africa (GI-WACAF).

14 Jul 2017

North Natuna Sea: Striking at China Claims

Indonesia renamed the northern reaches of its exclusive economic zone in the South China Sea as the North Natuna Sea on Friday, the latest act of resistance by Southeast Asian nations to China's territorial ambitions in the maritime region. Seen by analysts as an assertion of Indonesian sovereignty, part of the renamed sea is claimed by China under its contentious maritime boundary, known as the 'nine-dash line', that encompasses most of the resource-rich sea. Several Southeast Asian states dispute China's territorial claims and are competing with China to exploit the South China Sea's abundant hydrocarbon and fishing resources. China has raised the ante by deploying military assets on artificial islands constructed on shoals and reefs in disputed parts of the sea.

16 Dec 2015

NOIA Rebuts “Red Herring” Study on Atlantic Development

(NOIA) Randall Luthi President of the National Ocean Industries Association

“The Quest Study estimates the potential for jobs, economic activity and government revenue that could be generated from Atlantic development, assuming reasonable government policies supporting energy development are in place. Completed in 2013, the Quest report was never intended, nor could it have been expected, to predict federal policy in 2015. Thus, the SELC report misses the forest for the trees; the fact remains that Atlantic oil and gas activity holds the potential to add tens of thousands of jobs and billions of dollars in revenue and investment to Atlantic states.

29 Jul 2015

Côte D’Ivoire Invests in O&G Safety Training

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries, according to international learning technologies company Atlas Knowledge. Uptake of International Minimum Industry Safety Training, the global standard for health and safety training, has rocketed in the country in the last two years and now accounts for almost 15 percent of the worldwide total. On a country-by-country basis, this represents the largest uptake of IMIST across Atlas’ network of international training partners. An OPITO standard, IMIST was…

20 Aug 2014

Russia Sanctions Could Slow Norwegian Arctic Exploration

Western sanctions against Russia may slow down exploration for oil and gas on both the Norwegian and Russian side of the Arctic Barents Sea, lobby group Norwegian Oil & Gas told Reuters on Wednesday. "We have many members working on both sides of the border, where coordination of fields will be a key topic. Collection of seismic and other joint activities may be affected," said the group's head of legal affairs, Oluf Bjoerndal. The association represents oil firms, including most supermajors, as well as some of the world's biggest oil and gas service firms. "We fear that this could become a problem. There's a worry about that. It may mean that some areas aren't explored well enough, that potential discoveries are delayed," he added.

02 Jul 2013

Foss Unifies Operations Under Single Name

Paul Stevens, President and CEO of the unified Foss Maritime

American maritime holding companies Foss Marine Holdings announced that effective immediately it will merge all of its operations and resources under a single name: Foss Maritime Company. Today, Foss Marine Holdings' wholly owned subsidiaries - Foss Maritime, AMNAV, Young Brothers, Hawaiian Tug & Barge and Cook Inlet Tug & Barge - operate what they say is the country's largest coastal tug and barge fleet. Effective immediately, Foss Marine Holdings will merge with Foss Maritime, whose lines of business include two shipyards, harbor services, ocean towing, marine engineering and others.

13 May 2013

Drydocks World Discusses Wide Ranging Bilateral Issues

Singapore Consul General

Drydocks World received H.E. Cheong Ming Foong, the Consul General of Singapore along with Khalil A. Bakar, Center Director Middle East of Singapore Economic Development Board. Khamis Juma Buamim, Chairman and Dr. Markus Voege, VP – Operation and Production of Drydocks World and Maritime World, welcomed H.E. Cheong Ming Foong and Mr. Bakar to the Maritime Business Center at Dubai Maritime City for discussions on economic developments, renewal of agreements of understanding in the marine and maritime specialties…

18 Apr 2013

Offshore Energy

How much can change in one generation? Let’s take a look at the current generation entering your workforce born between 1980 and 2000; the Millennials. This generation grew up rarely hearing the phrase, “You can’t do that.” They have always known what a computer is, have no concept of the breakthrough of the bag phone and are just now discovering that records (vinyls) have songs on both sides. Easy access to infinite knowledge has always been at their fingertips via the internet. Their world has always held limitless possibilities because of technology.

09 Oct 2012

New Offshore LNG Report Launches at Gastech 2012

Infield Systems unveil its 'Offshore LNG Market Report to 2018' at the Gastech Expo in London. The launch of this report at Gastech 2012 coincides with a particularly exciting time for this sector of the offshore oil and gas industry, following Shell's announcement that it has sanctioned the world's first floating LNG project, Prelude. It is widely expected that this will mark the beginning of a more widespread use of this potentially market changing technology. Infield Systems' latest Offshore LNG report analyses the value of the sector and the drivers for floating liquefaction and offshore regasification; as well as providing a regional…

05 Jul 2012

Mexican Gulf Energy Lease Sales – BOEM Issues Environment Analysis

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.

21 May 2012

BMT: Annual Report Shows Solid Performance

A resilient performance As competition intensifed and demand weakened, BMT faced diffcult market conditions across most areas of the business during the reporting period. Given these circumstances the group performed well, with revenues from continuing businesses rising 8% to £127m and underlying operating profts unchanged at £6.5m. With competition keen and our customers’ budgets under pressure we were, however, unable to make further progress in our strategic aim of improving underlying margins.

02 Feb 2012

Oil & Gas Regulators: Respond & Review Regimes

Denys Hickey, Partner, Ince & Co Singapore.

Oil & Gas Regulators Respond to Recent Pollution Incidents by Reviewing their Regulatory Regimes. In response to the spate of significant pollution incidents involving oil & gas exploration, production and transportation that have hit the headlines in recent years, a number of national and international regulators have taken the opportunity to review their regulatory regimes. This article provides an update on the new Community-wide regulations that have been proposed by the European Commission, the regulatory reform that has occurred in Australia and the possible reforms in New Zealand.

12 May 2011

Conrad Announces Q1 2011 Results

Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced today its first quarter 2011 results and backlog, and discussed challenges presented by the rising waters of the Mississippi River and the Atchafalaya River. For the quarter ended March 31, 2011, Conrad achieved net income of $3.7 million and earnings per diluted share of $0.58 compared to net income of $1.7 million and earnings per diluted share of $0.27 during the first quarter of 2010. The Company’s financial reports are available at www.otcmarkets.com.

19 Oct 2010

BOEM Director Bromwich on Aggressive Reforms

BOEM Director Michael R. Bromwich delivered a keynote address at the International Regulators Forum (IRF) Conference in Vancouver, British Columbia, Canada. During his visit, Director Bromwich met individually with his counterparts from the offshore regulating agencies from Australia, Canada, Norway and the United Kingdom to discuss issues of mutual interest. “Good morning. Thank you for inviting me to speak with you today. “I am the Director of the Bureau of Ocean Energy Management, Regulation and Enforcement – the agency responsible for regulating oil and gas exploration and development on the Outer Continental Shelf of the United States. “Let me begin by thanking our Conference host, Canada’s Nova Scotia Offshore Petroleum Board, and in particular Mr.

29 Mar 2010

NOIA Applauds Virginia Offshore Energy Bill

The National Ocean Industries Association (NOIA) applauds the continued bi-partisan support from Virginia leaders of energy exploration, development, and production offshore the Commonwealth. A bill to require Interior Secretary Ken Salazar to conduct a Lease Sale off Virginia, introduced by Representative Bob Goodlatte (R-VA), is the latest in a series of strong pushes for offshore energy from Virginia leaders. This bill continues the bipartisan effort of leaders including Governor Bob McDonnell, Senators Jim Webb (D-VA) and Mark Warner (D-VA) and state leaders in the Virginia General Assembly to move forward with offshore energy production off Virginia.

18 Mar 2010

Bourbon 2009 Financial Results

For 2009, Bourbon reported robust earnings driven by the growth of the Offshore Division. EBITDA excluding capital gains was up 9.4%. “The 2009 results illustrate the good increase of the offshore activity due to the growth of the fleet and to its utilization rate, which remains high despite the market downturn during the year,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. rates. - The sharp decline in Bulk Division revenues, due to the change in charter rates. Excluding capital gains, gross operating income (EBITDA) reached €346.3 million for the year, i.e. an increase of 9.4% for the group. The EBITDA of the Offshore Division alone grew by €70.8 million i.e. plus 29.4%.

18 Mar 2010

Bourbon 2009 Financial Results

For 2009, Bourbon reported robust earnings driven by the growth of the Offshore Division. EBITDA excluding capital gains was up 9.4%. “The 2009 results illustrate the good increase of the offshore activity due to the growth of the fleet and to its utilization rate, which remains high despite the market downturn during the year,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. rates. - The sharp decline in Bulk Division revenues, due to the change in charter rates. Excluding capital gains, gross operating income (EBITDA) reached €346.3 million for the year, i.e. an increase of 9.4% for the group. The EBITDA of the Offshore Division alone grew by €70.8 million i.e. plus 29.4%.

10 Feb 2010

Bourbon 2009 Annual Revenues

Commenting on Bourbon’s 2009 annual revenue results, Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon said: “With 71 new units coming into the fleet in 2009, annual revenues from Bourbon owned Offshore vessels alone saw growth of 27%, while the need for chartering was substantially reduced in a context of cost-cutting by the oil and gas companies. This trend, which was particularly marked at the end of last year, is likely to continue to influence activity in the early part of this year. Revenues for 2009 amounted to 960.5 million euros, up 3.1% compared with the previous year (down 1.6% at constant exchange rates).

12 Dec 2008

Lloyd’s Register Reports Strong Performance

In his report on the accounts for the year ended June 30, 2008, David Moorhouse, Chairman of Lloyd’s Register, has announced that Group income rose by 19.6% to $893m (2006/07: $747.5m) with a marginal increase in surplus before tax generally in line with the budgeted target. The budgeted surplus for the year allowed for a significant increase in spending on projects and personnel in support of the Group’s medium and long term business objectives. “Following very strong growth in 2007, I am pleased to be able to report another year of strong underlying financial performance in 2008. While the recent global financial chaos had little effect on our results for the year to June 2008, it is clear that next year will pose a significant challenge to the Group.

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