Oil And Gas Industry News

26 May 2019

Frac Sand Prices to Remain Flat

Graph: Rystad Energy

Demand for sand to be used by the oil and gas industry in hydraulic fracturing operations in the US is set to grow by 10% in 2019 and 17% in 2020, said a report.According to Rystad Energy, frac sand supply, on the other hand, is forecast to increase by 10% in 2019 and then decrease by 2% in 2020 as more Northern White Sand will come off the market.The Eagle Ford Basin in South Texas could play a pivotal role for sand price developments going forward, said the energy research and…

24 May 2019

SeaBird Wins Wintershall Survey Contract

Image: SeaBird Exploration

The provider of marine 2D and 3D seismic data and associated products and services to the oil and gas industry, SeaBird Exploration announced a contract award by Wintershall Dea for 2D acquisition in the Norwegian Sea.The survey has an expected duration of one month and start in the third quarter this year, the Norwegian seismic player said in a press release.Meanwhile, SeaBird has made further progress towards the completion of the acquisition of the Boa Galatea and Boa Thalassa vessels.

15 May 2019

Bristow Files for Chapter 11 Bankruptcy

Image: Bristow Group

Offshore helicopter services provider Bristow Group filed for chapter 11 bankruptcy protection after reaching a deal with senior bondholders on a plan to slash its debt load.The struggling Houston-based helicopter operator for offshore oil and gas industry looks to cut debt after reaching deal with senior bondholders, as it attempts to restructure its crippling debt load.The Chapter 11 filing, dated 11 May, covers only six US- and two Cayman Islands-registered businesses, with…

14 May 2019

Global Energy Investment Totals $1.8trln in 2018

Pic: International Energy Agency

Global energy investment totalled more than USD 1.8 trillion in 2018, a level similar to 2017, said the International Energy Agency (IEA).The investment stabilised in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables.IEA's latest annual review said that for the third year in a row, the power sector attracted more investment than the oil and gas industry.The biggest jump in overall energy investment was in the United States…

14 May 2019

DNV GL, NTU Partner in 3D Printing

Pic: DNV GL

The global quality assurance and risk management company DNV GL and Nanyang Technological University (NTU), Singapore (NTU) are supporting academic advances in additive manufacturing – the process of 3D printing – for the maritime, oil and gas and other industries, through a four-year research collaboration agreement.Two new doctoral student (PhD) positions are being created through the Industrial Postgraduate Programme, supported by the Singapore Economic Development Board (EDB) and DNV GL.

14 May 2019

K Line Offshore Sells 15-year-old PSV

Image: K Line Offshore

The offshore support vessel provider for the global oil and gas industry, K Line Offshore has sold one of its platform supply vessels (PSV) to Gard Supply AS.The Norway-based offshore division of Japan's K Line said that the the 2004-built PSV KL Arendalfjord is its very first ship."A Protocol of Delivery and Acceptance was signed and KL Arendalfjord was delivered by K Line Offshore AS(KOAS) to Gard Supply AS in Tønsberg, Norway," said the press release from the shipowning and operating company with high end PSVs and two of the world's most powerful AHTS.

13 May 2019

Oil&Gas Industry Records 1242 Contracts in Q1

Pic: Adnoc

The Oil and Gas industry reported 1242 contracts, of which 1178 were awarded contracts, said Quarterly Oil & Gas Industry Contracts Review.Europe, the Middle East and Africa (EMEA) region recorded the most contracts with 569 contracts, representing around 48% of the total awarded contracts in Q1 2019, followed by Americas region with 366 contracts, accounting for 31% of the total awarded contracts.Upstream sector reported 73% of the total awarded contracts, with 862 contracts.

13 May 2019

Interview: Rolf Stiefel, Winterthur G&D

The next big thing on fuels is LNG. We are a long way from identifying a fuel which offers the same viability, in terms of infrastructure, beyond LNG at the moment. LNG is the necessary bridge which is getting us closer to a carbon neutral future.

The May 2019 edition of Maritime Reporter & Engineering News features a 10-page feature section on "Thought Leadership" in the marine power sector. Here we extract and present the interview with Rolf Stiefel, Vice President Sales, Winterthur Gas & Diesel Ltd., in its entirety.Please put in perspective and discuss – using your career as the time span – the current environment and pressure to reduce emissions in the maritime industry.When I started in the marine industry (coming from the power generation markets) back in the early 2000’s…

13 May 2019

Geoquip Marine Names Laloe as Director

Image: Geoquip Marine

Switzerland-headquartered  geotechnical engineering and offshore drilling company Geoquip Marine has announced the appointment of industry veteran Jean-Luc Laloe to its Board of Directors.Jean-Luc, who has almost 40 years of experience in the offshore oil and gas industry, has joined as an independent non-Executive Director.Jean-Luc originally entered the Offshore Engineering and Construction industry in 1980 and in the course of his career he has worked with Technip, Stolt Offshore, and Acergy /Subsea 7.

10 May 2019

Varde Buys VLCC from Landbridge

Image: Landbridge Group

Global alternative investment firm Värde Partners and Landbridge VLCC International, a Hong Kong-based subsidiary of Chinese industrial company Landbridge Group, announced a sale and lease back transaction of a very large crude carrier (VLCC).The vessel, Landbridge Prosperity, is a modern, fuel-efficient tanker built in 2016. Landbridge will continue to operate the vessel under a bareboat charter, before repurchasing the vessel at the conclusion of the charter period.“We are pleased to begin a financing relationship with Värde, a firm with diverse expertise and a long history in shipping.

07 May 2019

OREDA Goes Digital

Pic: DNV GL

The offshore and onshore reliability data project by Norwegian Petroleum Directorate(NPD), OREDA goes digital with new collaboration to improve accessibility and efficiency for oil and gas industry reliability data, said DNV GL.Vast amounts of offshore and onshore reliability data are to be made available through Veracity as OREDA provides access to their new and updated electronic version through the marketplace on DNV GL’s data platform.For almost 40 years now, the OREDA consortium…

30 Apr 2019

MTL: Allan Named Senior Naval Architect

Paul Allan (Photo: MTL)

FPSO and marine integrity management specialists, Marine Technical Limits (MTL) has welcomed a senior naval architect to its team.Paul Allan, who has more than 10-years’ experience in delivering naval architecture and marine warranty surveying (MWS) to the oil and gas industry, has been appointed to the position of Senior Naval Architect by the Kintore-based firm.The chartered engineer will be supporting the MTL team developing systems and procedures, driving MWS and supporting the company’s global FPSO and marine activities.MTL…

30 Apr 2019

65,000 Wells will be Drilled in 2019

Graph: Rystad Energy

Rystad Energy forecasts that the number of onshore and offshore oil and gas wells drilled globally will increase to around 65,000 in 2019.Activity levels are then projected to remain around this level through 2023, the energy research and business intelligence company said.Rystad Energy also forecasts that more than 1 million kilometers of new oil and gas wells will be drilled over the next five years. The collective depth of these wells is the equivalent of 25 times around the…

22 Apr 2019

Oman LNG Settles $2bln Loan in Advance

Pic: Oman LNG

Oman Liquefied Natural Gas LLC has announced that it has successfully repaid its US$2 billion loan facility obligation ahead of schedule, saving interest costs.According to Oman News Agency, the move is part of the company’s ongoing efforts to reduce financial costs and support Oman’s credit rating.The agency quoted Dr Mohammed bin Hamad al Rumhi, Minister of Oil and Gas and chairman of Oman LNG, as saying: “The early repayment of the loan by Oman LNG demonstrates the financial robustness of the company and confidence in the oil and gas industry and Omani economy at large.

16 Apr 2019

Interview: Astrid Skarheim Onsum, SVP, Head of Wind, Aker Solutions

Offshore renewable energy is gaining investment support in the United States, particularly on the east coast. While the U.S. is a full generation behind its European counterparts in tapping the wind as an energy source, if current plans come to fruition it could gain ground quickly. Recently we spoke with Astrid Skarheim Onsum, SVP, Head of Wind Aker Solutions, for her view on the path ahead and the growing role and promising future of ‘floating wind.’Please give an overview of your responsibilities as SVP…

15 Apr 2019

Rever Offshore Appoints Ops Director

Image: Rever Offshore

The subsea services provider to the oil and gas industry Rever Offshore, has announced the appointment of Bob Bryce to the newly-created role of Operations Director.The provider of fully integrated subsea construction and offshore management services said in a press release that  Bryce’s 40-year career in the oil and gas industry has seen him hold senior leadership positions on a global basis with key subsea-surf contractors, including McDermott, Subsea7 and Technip.He joins Rever’s executive team with a remit to oversee the operations, assets & services and QHSE functions.

05 Apr 2019

Jan De Nul Orders Jack-up Installation Vessel

(Image: Jan De Nul)

Luxembourg based Jan De Nul Group (JDN) announced Friday it has ordered its third offshore jack-up installation vessel, due for delivery from Chinese shipyard COSCO Shipping Heavy Industry in 2022.The new vessel, Voltaire, is designed to transport, lift and install offshore wind turbines, transition pieces and foundations, and will have better operational limits compared to existing jack-up installation vessels, JDN said.For many current installation vessels involved in the construction of offshore wind farms…

03 Apr 2019

FuelTrax 'Vision' for SPO

Swire has installed FuelTrax Vision, a new onboard surveillance system.Swire Pacific Offshore, a marine services conglomerate and a leading service provider to the offshore oil and gas industry currently operates six vessels with FuelTrax on board, two of which have been installed with the latest FuelTrax Vision technology. The two FuelTrax Vision systems have been preforming without disruption since December 2018.FuelTrax is designed to be a smart, self-contained, marine fuel management solution, which protects assets and ensures security of fuel, compliance and optimized vessel performance.With the launch of its FuelTrax Vision system…

15 Mar 2019

New CTVs Delivered for Hornsea Wind Farm

Photo: Incat Crowther

A pair of 39-meter multipurpose crew transfer vessels have been built by PT Bintang Timur Samudera in Indonesia and delivered to MH-O & Co to be operated for Orsted in its Hornsea Project One wind farm offshore England.According to designer Incat Crowther, the new vessels MHO Gurli and MHO Esbjerg are the largest wind farm support vessels to enter service to date anywhere in the world. They draw on Incat Crowther’s experience with larger offshore fast catamarans operating in the oil and gas industry.

14 Mar 2019

MMA Offshore Bags Santos Contract

Pic: MMA Offshore

Australian offshore vessel owner MMA Offshore has been awarded a drilling support contract by Santos Drilling."We are pleased to announce that we have been awarded a contract by Santos to support its 2019 jack-up drilling campaign," said a statement from the provider of marine logistics and marine services to the offshore oil and gas industry in Australia and internationallyThe contract is for the provision of three vessels to support the drilling campaign, including two anchor handling tug supply vessels and a platform supply vessel…

13 Mar 2019

LR Chalks Out Energy Growth Strategy

Pic: Lloyd’s Register

Lloyd’s Register (LR), which ranks as one of the world’s largest providers of professional services for the engineering and technology sectors, has chalked out a new strategy for future growth in the energy market.The firm, which started out in 1760 as a marine classification society and now has more than 7,000 staff globally, said that the first phase of its new global strategy for its energy business to reposition the professional services portfolio for growth through the energy transition…

13 Mar 2019

Repsol, Emerson Pact for Geoscience R&D

Emerson is enabling Repsol to accelerate time to first oil using digital transformation technology. Pic: Emerson

Emerson and Repsol announced they have established a strategic alliance to deliver advanced subsurface geophysical technologies to reduce the time to prospect and produce first oil.Emerson, a global engineering and technology company,  will work collaboratively with Spanish energy company Repsol to implement and deploy advanced subsurface imaging technologies, with core technologies developed by Repsol as part of Kaleidoscope, its 10-year innovation project."These advances will…

27 Feb 2019

Oil, Gas Majors Join Blockchain Consortium

Rebecca Hofmann Photo:  OOC Oil & Gas Blockchain Consortium

A group of seven major oil and gas companies, including ExxonMobil Corp., Chevron Corp. and ConocoPhillips, announced a partnership to establish the first industry blockchain consortium in the United States.With several use cases across the industry value chain, the consortium intends to conduct proofs of concept with this emerging technology in 2019, said a press release from OOC Oil & Gas Blockchain Consortium.The OOC Oil & Gas Blockchain Consortium was founded to advance industry blockchain technology learnings for the purpose of driving industry standards…

Maritime Reporter Magazine Cover May 2019 - Propulsion Annual - Green Marine Tech

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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