Oil Spill Response in Equatorial Guinea
Emergency preparedness and response in the oil and gas sector was at the core of a workshop held in Malabo, Equatorial Guinea (7-10 May). The aim of the workshop was to strengthen the country's capacity to prepare for and respond to marine pollution from oil spills. This workshop follows on from a series of events developed with the Republic of Equatorial Guinea with a view to making recommendations to improve the national preparedness and response system in the country, including a more robust national oil spill contingency plan.
Australian Energy Firms to Rebalance their Portfolios: DNV GL
New research by DNV GL, the technical advisor to the oil and gas industry, shows oil and gas companies in Australia are seeking to rebalance their business portfolios and reorganize for a new era. In a period of drawn-out recovery, 45% of senior oil and gas professionals surveyed expect their business to diversify into, or invest more in, opportunities outside of oil and gas. Still, 85% believe gas will become an increasingly important component of the global energy mix over the next 10 years.
IHC Caland Cut
Dutch broker Amstgeld cut is recommendation for Dutch shipbuilding and engineering group IHC Caland to "Underperformer" from "Neutral". Amstgeld said it expected the company to show a "gap" in 2001 profits, as no major floating production and storage unit orders were recorded in the second half of 2000. Although the company will profit from a renewed surge in the oil and gas sector, shares will be hit by the disappointing 2001 situation, Amstgeld said in a note to investors. – (Reuters)
Arctic Holds Over 113 Bboe, Report Says
Infield Systems has published a new report on prospects for the offshore Arctic oil and gas sector through 2017. Infield has identified over 130 Bboe in discovered oil, gas, and condensate reserves throughout the offshore Arctic/sub-arctic regions. Around 114 Bboe, or 86% of the total, are gas reserves, with around 16 Bbbl of oil, according to the report. (Source: Offshore Magazine)
Expro Receives Ninth Safety Award from RoSPA
International oilfield services company, Expro, has been recognized for the ninth consecutive year by the Royal Society for the Prevention of Accidents (RoSPA) for its outstanding global safety record. Expro has been awarded a RoSPA Commendation for excellence in health and safety at work within the oil and gas sector in the Society’s 2013 Awards. The company has received awards from RoSPA for the past nine years, achieving a gold award in 2005 and then winning the Oil & Gas sector award in 2006 and retaining it in 2007, 2008 and 2009.
SeaDrill, Pengrowth See Profits, Higher Dividend
Companies in the Oil & Gas Drilling & Exploration sector have posted surging top lines in recent quarters as global oil consumption continues to grow. With profits on the upswing, several explorers have begun boosting dividend payments. The Bedford Report examines the outlook for companies in the Oil & Gas Sector and provides equity research on SeaDrill Ltd.SDRL +1.38% and Pengrowth Energy Corporation PGH +1.16% CA:PGF +0.88% . The US drilling sector will need to work through new safety and environmental regulations that arose out of last year's Gulf of Mexico oil spill. While acquiring permits was initially difficult, the US government has recently released a new, more-efficient, application process that should make the sector's battle a little easier.
Aalborg Strengthens O&G Position
Aalborg Industries signed a binding agreement to acquire the Australian company Gosfern Pty Ltd. Gosfern's core competence lies within combustion technology and related control and safety systems. The company has, over the past decade, developed a strong position as supplier to special vessels for the exploration, production and preprocessing of oil (FPS) and has a considerable market share globally. With the acquisition of Gosfern, Aalborg Industries becomes a supplier of complete boiler plants with related combustion equipment, automation and safety systems to the maritime oil and gas sector.
Strategic Marine Expanding in Western Australia
Western Australian shipbuilder Strategic Marine will expand its presence in the state's North West, establishing a new facility at the SINWA site in Karratha. The operation has been established to meet the demands of Strategic Marine's growing number of clients in the offshore oil and gas sector for fast and reliable marine services. Strategic Marine Chief Operating Officer Scott Nicholls said the company had built and delivered a number of vessels now operating in the North West, so the timing was right to establish a permanent base in the region. "This new facility will provide rapid response marine services for the oil and gas sector, fabrication facilities and through life support for all vessels operating in the region," Mr Nicholls said.
Growth in Oil and Gas Sector Generates an Open Logistics Market
A new research report from Transport Intelligence (Ti) has suggested that due to a wave of new investment, the scope and structure of oil and gas exploration and production (E&P) has broadened extensively over the past decade, creating an array of opportunities for logistics service providers. This is, in part, due to the emergence of substantial E&P activity in new locations which acts to drive up logistics spend. Ti’s new report, Oil and Gas Exploration and Production Logistics 2013, identifies double-digit growth in the E&P logistics spend in Russia, Latin America, Africa and Asia Pacific for 2012. In Europe and the USA the market grew by 8% and 8.5% respectively.
OPT PowerBuoy Now Available in the Oil and Gas Sector
Ocean Power Technologies Ltd. (OPT), a supplier of moored floating buoys that harvest energy from waves, announced that it has chosen Offshore Europe to launch its PowerBuoy technology into the global oil and gas sector. Already demonstrated in the defense, renewables and utilities sectors, the PowerBuoy is capable of delivering energy from a few kilowatts (kW)to several 100 kW, and has been successfully deployed in Hawaii, U.K. and New Jersey. The PowerBuoy moves freely up and down with the rise and fall of waves.
Voith Opens HQ in Houston
Voith Turbo opened a new Houston, Texas headquarters for the Power, Oil & Gas Division for the region Americas. Located in the heart of Houston’s Energy Corridor, the new office furthers Voith Turbo’s commitment to expanding its presence in North America and supporting its oil and gas customers. “Opening a beautiful new location in the heart of Houston’s Energy Corridor shows our commitment to the oil and gas sector,” said Ron Wilson, President Americas of Voith Turbo’s Power, Oil & Gas Division.
Successful North Sea Methanol Monitoring Trial
LUX Assure launches chemical monitoring product after successful field trial with North Sea Operator. LUX Assure, a company specialising in the development of chemical monitoring technologies for the oil and gas industry, has launched its first product to market following a number of successful field trials with North Sea oil majors. The Aberdeen-based firm is forecasting £100,000 of sales in 2012, with an expected accessible global market of over £1million per year. OMMICA is…
Navy Actions Disrupt Oil Field Access
StatoilHydro reportedly suspended helicopter flights to some of its main fields in the North Sea due to Russian Navy exercises in nearby international waters, Reuters reported. According to the reports, the disruptions will not affect production levels at the fields, which include the Troll field. According the report, a Russian aircraft carrier and two accompanying vessels were carrying out exercises near the heart of Norway's offshore oil and gas sector in the North Sea.
Lion Containers Joins Achilles FPAL
Lion Containers Ltd. announced that it has joined Achilles FPAL, the supplier management community supporting the European oil and gas industry. Achilles FPAL is a community used by major buying organizations within the oil and gas sector. It enables the oil and gas sector to use Achilles' proven supplier prequalification system to identify, prequalify and assess suppliers for tender opportunities and minimize risk within their supply chains. Established in 1996, FPAL is a service provided by Achilles and the community is managed by a Steering Group to drive industry best practice.
Maersk Training Bullsh on India
Maersk Training, part of the Denmark based A.P. Moller-Maersk, is betting on the Indian training centre, reports the Hindu. India is one of the 10 Centre’s that is making profits. "While other Maersk training centres are facing issues due to downturn in maritime and oil and gas sectors, India is doing a good job by balancing it. We are ready to provide them a helping hand so that they can tap into global talent pool of trainers to get information, knowledge and content to offer high end and niche courses in oil and gas sector…
D’Appolonia Takes Majority Stake in SeaTech
D’Appolonia, the independent engineering consulting company of RINA Group, headquartered in Italy, announced it has acquired a majority stake in Fano-based SeaTech Srl. According to D’Appolonia, the acquisition aims to strengthen its position in the marine offshore oil and gas sector. SeaTech provides analysis and design services, manages projects for offshore pipelines, subsea systems and structures and met-ocean monitoring systems, and also provides engineering supervision services on site. Founded in 2000, SeaTech has a current turnover of €2.8 million.
EnerMech Secures Eni Norge Lifting Contract
Eni Norge AS has awarded mechanical engineering group EnerMech a three-year frame agreement to provide lifting and inspection services on the Goliat FPSO project. EnerMech views the Norwegian oil and gas sector as a key growth area for its seven business lines and in 2014 will invest up to NOK 20.4 million (£2 million) in equipment and facilities to expand its market reach. The company employs 55 staff in Norway and last year opened a second base in Bergen to complement its long established facility in Stavanger.
Singapore's ASL Marine Holdings Reports Increased 2012 Revenue
Total revenue for the Singapore-based group increased by 7.7% year-on-year to $391.2-million in financial year ended 30, June 2012. ASL Marine Holdings Ltd. is a vertically-integrated marine services group principally engaged in shipbuilding, shiprepair and conversion, shipchartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, Europe, Australia and the Middle East. According to Ang Kok Tian, Chairman and Managing Director, “...we managed to post a decent set of results on the back of robust shipbuilding operations, a resilient chartering business and increased orders for the shiprepair and conversion segment from the buoyant offshore oil and gas sector.
UK Offshore Hydrocarbon Up
According to a Nov. 16 report from Forbes.com, shares in UK’s Offshore Hydrocarbon Mapping Plc rose 29 percent after the electromagnetic surveys provider to the oil and gas sector won a $2.5m contract and posts a full-year loss in line with market estimates. (Source: www.Forbes.com)
Faststream Expands Oil and Gas
Global recruitment group Faststream has expanded its presence in the oil and gas industry and is recruiting for the sector from its offices in the UK, U.S., Norway and Singapore. “We have a strong database of candidates, a detailed knowledge of the industry and a team of proven specialist consultants so there is a strong structure behind this expansion”. Faststream will service the market for upstream, midstream and downstream candidates on behalf of clients throughout the world. The group’s headhunting division The Meeting House will undertake specialist oil and gas search assignments.
Strategic Marine Launches Offshore 40 Generation Three Crew Boat
Yesterday Strategic Marine, a specialist oil and gas sector shipbuilder, launched the Jati Seven, its first ever Offshore 40 Generation Three crew boat, the first of three 3rd generation vessels the company is building for Dinastia Jati, a Malaysia-based oil and gas services group. The Jati Seven retains the major features of the Generation 2 version, but sports improved seakeeping and increased cargo carrying capacity and fuel efficiency. According to Strategic Marine, the Jati Seven is the most efficient crew boat in the market for its class.
Survey: O&G Research Spending to Increase
New research from Lloyd's Register Energy explores the drivers for technology and innovation in the global oil and gas industry. The Technology & Innovation Radar survey results are released today, May 5, 2014, from booth #2173 at the Offshore Technology Conference (OTC) in Houston by Lloyd’s Register Energy. It provides insight into the adoption and development of new technologies which are fundamental for the advancement of the Oil and Gas sector in addressing the global demand for energy, and to cope with the environmental challenges in the decades ahead.
Cyprus-Egypt Gas Pipeline to Cost $800 mln-$1 bln
A pipeline connecting Cyprus' Aphrodite gas field to Egypt's liquefied natural gas (LNG) facilities will cost between $800 million and $1 billion, Egyptian petroleum minister Tarek El Molla said on Monday. Egypt has rapidly increased its production of natural gas and is hoping to become a hub for exporting to Europe after making a series of big discoveries in recent years. Molla, speaking at a joint news conference with Cyprus energy minister Yiorgos Lakkotrypis, said Cypriot gas would be used in part for domestic consumption and in part for export. Lakkotrypis said a final agreement on the pipeline would be signed as quickly as possible but did not specify when. Egypt is hoping to halt gas imports by 2019 and achieve self-sufficiency.