Oil And Gas Industry News

06 May 2020

Maersk Supply Service Cuts Jobs

A Maersk Supply Service offshore vessel

Danish offshore vessel owner Maersk Supply Service will let go 55 people in an effort to cut its onshore costs.The company said Wednesday that, in response to the negative development in the oil and gas industry, Maersk Supply Service today announced that it will reduce its onshore costs by 30 percent. "Approximately 55 people will be affected globally, with the majority being in the Headquarters in Lyngby, Denmark," Maersk Supply Service said.“We realize that the announcement is very unsettling, and indeed undeserved, for our employees.

06 May 2020

Liebherr: Broken Hook Cause of Orion Crane Collapse

Orion in Rostock - Image by Peter Keller/MarineTraffic

The article was updated to include a statement by a Deme spokesperson who said that the Orion delivery would be delayed following the accident.Following last week's crane collapse on offshore installation vessel Orion at Liebherr's yard in Rostock in Germany, Liebherr has said that the preliminary findings showed that a broken crane hook was the reason behind the accident.As previously reported, the accident happened last Saturday during the overload test of Liebherr's offshore heavy lift crane HLC 295000 aboard Deme's recently delivered offshore wind turbine installation vessel.

06 May 2020

HydroWing, Tocardo Working on Tidal-Energy-to-Hydrogen Project

THyPSO - Image by HydroWing

UK-based HydroWing and Dutch tidal energy developer Tocardo are working on a solution that will convert tidal energy into hydrogen, store it and offload it - similar to an FPSO in the oil and gas industry - to overcome the intermittency as well as the transportation issues.The concept called the THyPSO (Tidal Hydrogen Production, Storage and Offloading) includes a floating platform housing 1 ‚Äď 6 conventional bi-directional tidal turbines converting the tidal flows into electricity‚Ķ

04 May 2020

VIDEO: Crane Collapses on Deme Offshore's New Vessel

Image Credit: Deme Offshore

A giant crane collapsed on Saturday on Deme Offshore's flagship offshore vessel Orion at Liebherr's yard in Rostock, Germany, during crane load tests.Deme said Saturday that "a few persons suffered minor injuries." Deme Offshore said: "A serious accident has occurred today on board of offshore installation vessel ‚ÄėOrion 1‚Äô at the occasion of and during crane load tests. The vessel is under construction and owned by COSCO (QIDONG) OFFSHORE CO., LTD. The vessel is moored at the quayside at the Liebherr construction yard in Rostock‚Ķ

09 Apr 2020

Boskalis Buys Salvage Firm Ardent Americas

Image Credit: Boskalis

Dutch dredging and marine services giant Boskalis has acquired the U.S.-based maritime emergency response specialist Ardent Americas.Ardent, created by the 2015 merger of salvage divisions of Svitzer and Crowley, specializes in emergency preparedness and response, wreck removals, subsea services and decommissioning for the offshore oil and gas industry. Ardent Americas was a subsidiary of Ardent Global Marine Services, headquartered in IJmuiden, the Netherlands.Boskalis has also…

07 Apr 2020

Opinion: Renewable Energy Wins Over Oil and Gas in Post-Coronavirus World

© Geoff Tweddle / Adobe Stock

Imagine waking up one morning with a deadly tiger snake in your bed. To make matters worse out of the window you notice an approaching bushfire.Both are a threat to your life, but you are going to deal with the imminent danger of the snake first, and then tackle the more distant but still serious fire. It's the same with the new coronavirus and climate change.Since the rapid spread of the coronavirus beyond its origin in China and the social and economic havoc it's wreaking across the globe…

31 Mar 2020

ABS to Class Silver Eagle's New Jack-Ups

ABS, a classification services provider to the marine and offshore industries, will provide classification for a series of "highly innovative Self-Elevating Drilling Units (SEDU)" for Silver Eagle Global.Silver Eagle, of Manama, Bahrain, says the self-propelled design is capable of working at greater water depths and in harsh environments. According to Silver Eagle Global, the Silver Eagle SEDU 430WC-4 will have the industry’s largest deck area and deck load capacity, large accommodation…

20 Mar 2020

Saipem Inks Deal with Equinor on Floating Solar Farm Tech

© Tom Wang/AdobeStock

Italy's Saipem has reached an agreement with Norway's Equinor to develop technology to build floating solar power farms close to the coast, the energy contractor said.The agreement is between Saipem's high-value services unit Moss Maritime and the Norwegian energy firm."The agreement with Equinor goes in the direction taken by Saipem and Moss Maritime to develop new technologies related to clean energy," said Moss Maritime Chief Executive Ida Husem.Saipem, a market leader in subsea construction for the oil and gas industry…

11 Feb 2020

Upstream Sector Leads O&A M&A in 2019

Graph: GlobalData

A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report, ‚ÄėM&A in Oil and Gas ‚Äď 2020‚Äô, the acquisition of Anadarko Petroleum by Occidental Petroleum in April 2019 for a purchase consideration of US$57bn was the highlight of oil and gas M&A activity last year, says GlobalData, a leading data and analytics company.Ravindra Puranik‚Ķ

10 Feb 2020

UKCS Mediation Pilot Launched

Image: Oil and Gas Authority

UK oil and gas industry regulator Oil and Gas Authority (OGA) has revealed that it has launched a year-long UK Continental Shelf (UKCS) ‚Äúmediation pilot‚ÄĚ.According to the OGA, the pilot aims to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UKCS.The OGA has found that disputes have generally arisen due to entrenched licensee behaviors or communication breakdowns. They can be costly and time consuming for the companies involved‚Ķ

09 Feb 2020

UK Readies Carbon Storage Road-map

Image: Oil and Gas Technology Centre (OGTC)

Heriot-Watt University researchers are to map out the UK’s best sites for carbon capture by studying the geology of depleted gas fields in the North Sea.The team led by Professor John Underhill will use data from industry regulator the Oil and Gas Authority's (OGA) National Data Repository (NDR), which was opened up to access for the first time in 2019.Professor John Underhill said: “The Southern North Sea faces three of some of the UK’s largest carbon emission areas: the industrial hubs of Teesside…

09 Feb 2020

Unique Group Acquires APAC Marine Unit

(L-R) Harry Gandhi and Mike Pugh. Photo: Unique Group

Integrated marine and subsea solutions provider Unique Group has announced the acquisition of the Australian-company Western Advance’s Marine Division.The provider of services and solutions for the offshore, subsea and life support industries also announced the appointment of Chris Forde as its new regional vice-president.Western Advance’s integration with Unique Group ties in with the Group’s strategy to enhance its portfolio of autonomous solutions for marine, offshore and subsea industry operations in the region.Harry Gandhi…

30 Jan 2020

Polarcus Seismic Vessel Refit Completed

(Photo: Navalrocha)

Portugal‚Äôs Navalrocha shipyard said it has completed a multimillion-euro repair and refit project for Dubai-based marine geophysical company Polarcus.The drydock project which completed in January 2020 involved a broad package of work to the ultra-modern 14 streamer 3D/4D seismic vessel ‚Äď Polarcus Naila.The vessel is environmentally advanced with diesel-electric propulsion, high specification catalytic converters, a double hull and advanced bilge water cleaning system.‚ÄúThe Polarcus Naila visited Navalrocha shipyard for a total of 33-days running through the Christmas period‚Ķ

28 Jan 2020

Byron E. Vernicos Appointed as Ardent Rep

Byron E. Vernicos has been appointed exclusive Agent for Ardent for the Greek and Cypriot market.Ardent is a global specialist in emergency preparedness, emergency response, waste management, wreck removal, subsea services and decommissioning, servicing the marine and oil and gas industry. Byron E. Vernicos is a shipbroker who specializes in the offshore and maritime market since its establishment in 1978. Main focus areas are salvage, offshore vessels employment including deep sea towage and period charter, sale and purchase and other related activities.

23 Jan 2020

ION to Shoot 2D/3D Programs off Colombia

Image: ION Geophysical Corporation

ION Geophysical Corporation, a provider of geoscience technology, services, and solutions for the oil and gas industry, has entered into a multi-client agreement with Colombia’s National Hydrocarbon Agency (ANH), granting rights to reprocess existing data and acquire new 2D and 3D multi-client programs offshore Colombia’s Caribbean coast.In February, the ANH announced a series of reforms to encourage investment in exploration and production, such as a permanent license round and a more attractive tax regime…

20 Jan 2020

Oil, Gas Players Optimistic on Profits

Liv A. Hovem, CEO, DNV GL - Oil & Gas

Companies  in the oil and gas sector are optimistic about their ability to achieve their financial targets for 2020, according to a survey from standards agency DNV GL.While the sector‚Äôs growth hangs in the balance for 2020, oil and gas leaders are optimistic that they will weather the storm, drawing on hard-earned cost efficiencies from the past five years to make margin.Some 64% predict their organizations will hit profit targets this year (largely consistent with 62% in 2019)‚Ķ

16 Jan 2020

ION Reimaging 3D Data Offshore Uruguay

Image: ION Geophysical Corporation

ION Geophysical Corporation, a provider of geophysical technology, services and solutions to the global oil and gas industry, has launched Tannat 3D, a multi-client reimaging program offshore Uruguay.Leveraging the ION’s existing regional UruguaySPAN data and subsurface knowledge, ION is reimaging 22,000 sq km of data over the country’s deep water blocks to create a contiguous volume for a holistic exploration perspective of the margin. "This program builds on ION’s excellent 3D merge and reimaging track record established on our quarter of a million square kilometer data library…

17 Jan 2020

AEGIR-Marine to Open Middle East Office

AEGIR-Marine has announced a new office in Dubai, UAE. The maritime stern tube seal and propulsion system service provider will now operate out of offices in the Netherlands, Singapore, Shanghai, Namibia, USA and UAE. The Dubai service team will focus its activities on both the strong Middle East oil and gas industry in addition to the company‚Äôs core business of commercial vessels.‚ÄúIn terms of stern tube seal and propulsion system service and parts, we are filling the gap between equipment makers and maritime service providers. This strategy resulted in a significant increase in service work and sales of parts in the Middle East,‚ÄĚ says Serge Lapré‚Ķ

17 Dec 2019

OGS: UK Offshore Energy Integration Advancing

Image: Oil and Gas Authority

Increased integration between offshore wind and other marine renewables and offshore oil and gas production can help deliver the UK‚Äôs net zero target through technologies such as carbon capture and storage (CCS), said a study.According to a new report from the Oil and Gas Authority (OGA), titled ‚ÄėUK Continental Shelf (UKCS) Energy Integration: Interim Findings‚Äô, innovative partnering between oil and gas, renewables, hydrogen and carbon capture can accelerate energy transition.The report discusses the first phase of the UKCS Energy Integration project which is led by the OGA‚Ķ

17 Dec 2019

Seabed Geosolutions Sells OBC System

Survey vessel. Image: Fugro

Seabed Geosolutions, the provider of comprehensive ocean bottom seismic (OBS) solutions to the global oil and gas industry, has signed a contract to sell the entirety of its shallow water ocean bottom cable (OBC) recording equipment.The joint venture between Fugro and CGG said that the equipment was used on a recently completed project for Abu Dhabi National Oil Company in the United Arab Emirates. The sale fetched around  US$ 10 million.Stephan Midenet, CEO of Seabed Geosolutions‚Ķ

10 Dec 2019

Standard Drilling Sells PSV

Image: S.D Standard Drilling

Cyprus-based company active in the oil and gas industry S.D Standard Drilling signed Memorandum of Agreement (MoA) to sell one  large Norwegian built Platform Supply Vessel (PSV), Standard Supporter for USD 15 million.The transaction was completed yesterday (10 December 2019). S.D Standard Drilling Plc. has, through its subsidiary, Standard Supporter AS, received the transaction amount in full. Following the sale, the Company will control, directly and indirectly, a fleet  of 13 PSVs‚Ķ

27 Nov 2019

Viet Nam Readies for Oil Spill Contingency

Pic: International Maritime Organization (IMO)

Work is underway to further develop Viet Nam’s national oil spill contingency plan at a workshop in Ho Chi Minh City, Viet Nam, this week (26-29 November).Forty participants from across 10 government departments and the oil and gas and shipping industry are taking part in the workshop, which is the latest in a series of International Maritime Organization (IMO)-assisted events on oil spill contingency in South-East Asia.Participants are being introduced to international good practices…

27 Nov 2019

Jan De Nul orders Offshore Installation Vessel

Photo: Jan De Nul Group

Six months after the offshore installation vessel Voltaire, Jan De Nul Group orders Les Alizés, a floating installation crane vessel from the CMHI Haimen shipyard in China.Together with the Voltaire, this new vessel will be in a super-size class of its own, capable of building the newest generation of offshore wind farms. Les Alizés, that will be ready in 2022, is equipped with a crane having a lifting capacity of 5,000 tons and equally impressive lifting heights. Les Alizés will be able to load out, transport and install multiple units of the largest and heaviest wind turbine foundations.

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