Marine Link
Wednesday, August 15, 2018

Oil And Gas Sector News

Oil Spill Response in Equatorial Guinea

Photo: International Maritime Organization (IMO)

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.

HEECO Eyes New Markets for Expansion

Photo: HEECO expansion and development

The Humber Electrical Engineering Company (HEECO) in the United Kingdom has consolidated its marine presence and developed into new oil and gas markets.The Hull-based electrical manufacturing business is known for the design and build of switchboards, motor control centers (MCCs) and control panels for the marine and energy sectors as well as the programming of Programmable Logic Controllers (PLCs) and the provision of electrical design solutions.Celebrating its 110th anniversary this year…

Gas to Overtake Oil as Primary Energy Source by Mid-2030s

Photo: DNV GL

Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. Confidence in the case for gas is growing, according to a survey by DNV GL, the technical advisor to the industry. The vast majority (86%) of the 813 senior industry professionals surveyed agree that gas - the least carbon-intensive fossil fuel - will play an increasingly important role in the global energy mix over the next decade, up from 77% last year.

GranInvestimentos and Royal IHC Join Forces

Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver integrated life cycle solutions to customers in the oil and gas sector. Through this partnership, both companies are set to increase their operational and service activities, and expand their presence in Latin America. The association came into effect when IHC acquired a 50 percent share of GranEnergia – a subsidiary of GranInvestimentos that is active in the oil and gas market. The new partnership will be named GranIHC Services. It will provide integrated services to customers in the oil and gas industry in the fields of offshore maintenance and repair, logistical services and infrastructure facilities.

Bibby WaveMaster 1 Named in Rotterdam

(Photo: Damen)

The naming ceremony of the Bibby WaveMaster 1 took place on September 6,  at the cruise terminal in the Port of Rotterdam in front of more than 125 guests from the U.K.-based Bibby Group, Damen and a range of industry partners. More than 10 members of the Bibby family attended while the Damen family was represented by Chief Commercial Officer Arnout Damen. The naming, by Lady Sponsor Jacky Blaikie, is the culmination of a program that began nearly four years ago to develop a vessel that could meet the needs of the offshore wind industry in an efficient…

Wren Completes Isle of Man Steam Packet Company Deal

Photo: Wren

Liverpool marine fabrication firm Wren Industrial has manufactured and installed a collection of new water-tight and fire-rated doors for leading UK ferry operator Isle of Man Steam Packet Company. The welding and fabrication specialist has a long-standing relationship with the famous ferry firm, which is renowned as the oldest continuously operating passenger shipping company in the world - founded in 1830. The latest contract involved ‘through-night’ door maintenance onboard freight, passenger and vehicle ferries the Manannan and Ben-my-Chree.

Training for Spill Response in East Africa

Photo: International Maritime Organization (IMO)

The question of how to manage emergency preparedness and response in the oil and gas sector was on the agenda at a workshop in Zanzibar, United Republic of Tanzania (17-20 October). Participants from countries across the East Africa region gathered to highlight good practices in developing national preparedness and response systems, as well as how to improve understanding of risk assessments related to oil and gas development and potential impacts on environment. The group also worked to identify areas for strengthening emergency preparedness and response at national and regional levels.

DONG Energy Chooses Esvagt Castor for Hornsea One

The 'Esvagt Castor’ will work as standby vessel and man overboard rescue vessel during the building of the offshore wind farm Hornsea 1. Photo:  ESVAGT

DONG Energy has chosen Esvagt as partner in establishing the first offshore wind farm to break the 1 gigawatt barrier; the 1,200 mW offshore wind farm, Hornsea 1, off Grimsby in the UK sector of the North Sea. The 'Esvagt Castor’ will work as standby vessel and man overboard rescue vessel during the building of the offshore wind farm, which currently consists of a meteorological mast and half a dozen buoys and which, in 2020, will supply CO2 neutral power to around 850,000 homes.

Gulf Marine Eyes Acquisitions

GMS Endurance. Photo: Gulf Marine Services

Gulf Marine Services (GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, is looking at acquisitions due to opportunities in the market, reported Gulf News. GMS, which supports the oil and gas and renewable energy sectors with barges, has a fleet of fourteen vessels that help in offshore oil and gas platform refurbishment and maintenance activities, offshore wind turbine maintenance work, as well as offshore oil and gas platform installation and decommissioning, among other things.

Maersk Oil, Partners Approve USD 3.2bln Tyra Gas Project

Photo: Maersk Oil

Maersk Oil has announced that the Danish Underground Consortium (DUC) has approved an investment of approximately 21bn DKK in the full redevelopment of the Tyra gas field. The announcement follows the Danish Parliament’s approval to implement legislation to secure the investment. The redevelopment of Tyra ensures continued production from Denmark’s largest gas field, and will protect and rejuvenate important Danish North Sea infrastructure. Today’s announcement represents the largest oil and gas project investment ever made in the Danish North Sea…

WFW Advises Italian Shipowners on Partnership with Gigilinis

Image: Gigilinis Shipping Group

International law firm Watson Farley & Williams (WFW) advised three leading Italian shipowners -Rimorchiatori Mediterranei, Gesmar and Fratelli Neri – on their partnership agreement with Thessaloniki-based Greek maritime operator Gigilinis Shipping Group. The deal closed on 29 November. The deal represents a strategic milestone in Italian ship owners’ expansion into the Greek and broader Eastern Mediterranean markets, most notably into the key port of Thessaloniki. Rimorchiatori Mediterranei is the leading player in the harbour towage sector in Italy…

Metal Shark's Next-Generation Damen Fast Crew Supplier

 The all-aluminum monohull FCS 7011 (image: Metal Shark)

As an extension of its existing relationship with Netherlands-based Damen Shipyards, Louisiana-based shipbuilder Metal Shark has announced the availability of the new Damen FCS 7011 for the U.S. market. Developed by Damen in response to feedback from leaders in the offshore oil and gas sector, the FCS 7011 has been designed to reduce logistical cost and increase efficiencies in an era of low oil prices. The all-aluminum monohull FCS 7011 is a fast and comfortable crew supply solution for offshore production facilities.

Trump Aims to Open Nearly All US Offshore to Oil Drilling

© wanfahmy / Adobe Stock

The Trump administration on Thursday proposed opening nearly all U.S. offshore waters to oil and gas drilling, a move aimed at boosting domestic energy production that sparked protests from coastal states, environmentalists and the tourism industry. The effort to open previously off-limits acreage in the Atlantic, Arctic and Pacific oceans comes less than eight years after BP Plc's Deepwater Horizon oil spill in the Gulf of Mexico - the largest in American history. The disaster…

Gulf Navigation to Acquire Atlantic Navigation

Photo: Gulf Navigation Holding PJSC (GulfNav)

Dubai-based Gulf Navigation Holding PJSC (GulfNav) is in discussions to acquire a majority stake in Singapore-based Atlantic Navigation Holdings, a provider of offshore marine logistic services. Atlantic is an integrated offshore supply operation engaged in the provisioning of marine logistic services, ship repair, fabrication and other marine services. It operates out of the UAE serving primarily customers in the Middle East and India. Atlantic is an offshore marine logistic services group listed on the Singapore Stock with total assets of $177m.

Umoe Mandal Unveils New Crew Transfer Vessel

Voyager 38 X (Image: Umoe Mandal)

The new WAVECRAFT Voyager 38 X is designed to reduce transit time, improve crew and passenger comfort, safety and efficiency, expand operational envelop and reduce logistical cost, Umoe Mandal said. Voyager 38X incorporates air-cushion catamaran and Surface-Effect-Ship (SES) technologies with a motion control system that compensates for vertical wave motion to offer comfortable transit and safe access to other vessels and installations offshore. The vessel may be outfitted with a gangway and a SeaSpyder personnel transfer system.

Dumping "Dumb" Ships

BOURBON Corporation, like nearly every other player in the offshore oil and gas sector, is scrambling for its very existance as the dynamics in finding and producing energy from subsea plays have changed dramatically with the 4 year long global energy slump. While offshore activities remain depressed, companies like Bourbon are accelerating its transformation to meet the needs of the new reality in the market. "As the market cycle has bottomed out, BOURBON must focus more than ever on operational excellence, fleet utilization rates, cost reduction program and free cash flow preservation. However, we need to go even further, because market overcapacity is driving prices down sustainably and we believe that tomorrow will look very different from yesterday.

GulfNav Raises Funds for Expansion

Photo:  Gulf Navigation Holding

Dubai-based Gulf Navigation Holding’s board has approved the trading of rights issued in February 2018 to the company’s existing shareholders, without publicly offering the remaining shares. The company's capital now stands at AED 919,209,250. (USD 250,254,718) The move is in line with the company’s interim strategy to expand its services and gradually increase the size of its fleet to keep up with upcoming contracts and expansion projects, considering its future expansion plans.

MISC Berhad Names FSO Benchamas 2

FSO Benchamas 2 (Photo: MISC Berhad)

MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil and gas sector as well as its first partnership with COTL in the offshore space. The contract for the lease and operations FSO was secured through an international competitive bidding process and was signed between MISC Offshore Floating Terminals (L) Limited (MOFT) and COTL in August 2016.

ADNOC Signs Major Offshore Concession Agreements with Total

Image: Abu Dhabi National Oil Company

The Abu Dhabi National Oil Company (ADNOC) has signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the terms of the agreements, Total has been awarded a 20% interest in the Umm Shaif and Nasr concession and a 5% interest in the Lower Zakum concession. Total is ADNOC’s largest and one of its longest international partners, active in Abu Dhabi’s oil and gas sector since 1939. Today, the French super-major collaborates with ADNOC across the value chain…

​Semco Maritime Generated Positive Operating Results in 2017

Photo: Semco Maritime

Semco Maritime’s revenue shrunk to DKK 1,408 million in 2017 against DKK 1,598 million in 2016 as the offshore services provider observed continued price pressure and market hesitancy amid postponed projects and growing competition across its business areas.“Even though oil and gas prices increased during the year, the majority of 2017 was characterized by continued low activity and tough competition in the oil and gas industry. Towards the end of the year, demand from customers…

Alfa Laval's Volume, Profit Both Beat Street

(File photo: Alfa Laval)

Engineering group Alfa Laval reported quarterly earnings and order intake above market expectations on the back of an upturn in the oil and gas sector on Monday and forecast demand would remain at the same level in the second quarter. The company, a maker of products such as heat exchangers, separators and ballast water treatment equipment, reported order intake of 10.0 billion crowns, above the 9.6 billion seen by analysts. "Improved activity in upstream oil and gas, on shore…

McDermott, CB&I Shareholders Approve Merger

(File photo: CB&I)

McDermott International shareholders on Tuesday approved a merger with Chicago Bridge & Iron Co that creates a vertically integrated onshore and offshore engineering and construction company, thwarting an attempt by offshore drilling contractor Subsea 7 to block the deal.More than 50 percent of McDermott shareholders supported the deal and approved a 3-to-1 reverse stock split, according to a spokesman. CB&I shareholders also voted in favor the merger, the companies said, and the combination is expected to close on May 10.Shares of CB&I were up about 6 percent…

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.

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

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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