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Thursday, March 28, 2024
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Saudi Aramco News

17 Mar 2024

Esgian Week 11 Report: New Discoveries in UK and Namibia

Source: COSL

Esgian reports that drilling contracts have been announced this week for operations in Brazil and the Philippines, and new discoveries have been confirmed in the UK and Namibia in its Week 11 Rig Analytics Market Roundup.ContractsCOSL Drilling has emerged as the winner for Petrobras' moored semisubmersible tender with the 4,600-ft Nanhai 8 (also known as Nan Hai Ba Hao).Noble has secured a high-dayrate drillship contract with Prime Energy in the Philippines.Drilling Activity and…

10 Mar 2024

Esgian Week 10 Report: Additional Backlog Secured

© freddytb Foto / Adobe Stock

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

05 Mar 2024

Singapore's Temasek Shortlists Saudi Aramco, Shell in Sale of Pavilion Energy Assets

© vladsv / Adobe Stock

Singapore's Temasek Holdings has shortlisted energy giants Shell and Saudi Aramco among a handful of companies to purchase most of the assets of liquefied natural gas (LNG) trading firm Pavilion Energy, sources with knowledge of the matter said.The sale process comes a decade after the state investment firm set up Pavilion Energy to focus on LNG-related investments, and takes place as spot Asian LNG prices LNG-AS have fallen more than 40% since mid-August, potentially weighing on the deal's valuation.Temasek is evaluating bids for the sale of Pavilion Energy's assets…

28 Feb 2024

Saudi Arabian Company Abandons Crew Across Multiple Vessels

(Photo: International Transport Workers’ Federation)

The International Transport Workers’ Federation (ITF) said it has received many reports about withheld pay from individual seafarers working on eight Bahrain-registered vessels owned by Saudi Arabian company Hadi H Al Hamman Establishment. The company, which lists Saudi Aramco among its customers and was buying brand new ships as recently as 2018, has not paid seafarers for more than five months in some cases, the ITF said. One seafarer reported dangerously low levels of food…

26 Jan 2024

China Presses Iran to Rein in Houthi Attacks in Red Sea

© icholakov / Adobe Stock

Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by the Iran-backed Houthis, or risk harming business relations with Beijing, four Iranian sources and a diplomat familiar with the matter said.The discussions about the attacks and trade between China and Iran took place at several recent meetings in Beijing and Tehran, the Iranian sources said, declining to provide details about when they took place or who attended."Basically, China says: 'If our interests are harmed in any way, it will impact our business with Tehran.

10 Oct 2023

Incat Crowther to Design 60-Meter FSIVs

© Incat Crowther

Incat Crowther has been commissioned by Singaporean shipbuilder Lita Ocean to design three new ABS-Classed monohull fast support intervention vessels (FSIVs) for Zamil Offshore. The new 60-metre FSIVs will assist Zamil Offshore with the efficient and safe transport of cargo, heavy maintenance equipment and personnel for Saudi Aramco’s operations in the Middle East. The vessels will comply with the latest MCVSR requirements from Saudi Aramco, including ABS SMART and IDM-A notations.The…

29 Sep 2023

Praxis Automation to Equip 59 RVOS Offshore Vessels with DP-2 Systems

Credit: Praxis Automation/AdobeStock

Praxis Automation, a company specializing in ship automation, electrical propulsion, and dynamic positioning systems, will outfit 59 vessels of Saudi-based Rawabi Vallianz Offshore Services's (RVOS) with Praxis DP-2 systems.Under this RVOS fleet-wide contract, new build and existing offshore support vessels will be equipped with Praxis dynamic positioning systems, as well as customised equipment and software for digitization of the fleet in phases agreed with RVOS, one of the…

05 Jun 2023

Amogy Increases Series B Round to $150 Million

(Photo: Amogy)

Brooklyn, N.Y. based startup Amogy on Monday announced it has raised more funds to help it commercialize and begin manufacturing its emissions-free ammonia-to-power technology for marine and industrial applications. The company aims to bring its first product to market in 2024.Amogy said its Series B-2 fundraising was joined by Marunouchi Climate Tech Growth Fund, Mitsubishi Corporation, Mitsubishi Heavy Industries America and Synergy Marine, raising $11 million. This concludes…

04 Apr 2023

Ammonia-powered Tug Conversion Underway

Amogy is retrofitting its ammonia-to-power system on board a 1957-built tug at Feeney Shipyard in Kingston, N.Y. (Photo: Amogy)

A first-of-its-kind ammonia-powered, zero-emission tugboat will be put to the test by Brooklyn, N.Y-based startup Amogy in late 2023.Having already successfully demonstrated its technology on an aerial drone, tractor and semi-truck, the ammonia power solutions company revealed in early March that it is retrofitting a scaled up 1-megawatt (MW) version of its ammonia-to-power system onto a tug at Feeney Shipyard in Kingston, N.Y. as a test run for its emissions-slashing power and propulsion technology in the commercial maritime sector.Once installed…

07 Mar 2023

Amogy Reveals Details for Ammonia-powered Tug Conversion

(Image: Amogy)

Ammonia power solutions company Amogy on Monday said it plans to unveil a first-of-its-kind ammonia-powered, zero-emission tugboat in late 2023.The Brooklyn, N.Y-based company revealed during CERAWeek 2023 that it is retrofitting a 1-megawatt version of its ammonia-to-power system onto a 1957-built tug at Feeney Shipyard in Kingston, N.Y. Amogy’s ammonia-to-power technology feeds liquid ammonia through its cracking modules integrated into a hybrid fuel cell system that provides zero-carbon power to the electric motors.Ammonia…

09 Jan 2023

Middle East Ship Repair Yards Remain Center Stage

Asyad Dry Dock in Duqm, Oman, was previously Oman Drydock Company. Its new name reflects its ownership by Oman shipping and logistics group, Asyad. Image courtesy Asyad Dry Dock

In the 45 years since the Arab Shipbuilding & Repair Yard (ASRY) opened on reclaimed land in Bahrain, the Middle East has become one of the world’s ship repair hotspots. A broad range of shipyards now service both regional and global markets.Regional yards have a ready market, with hundreds of offshore rigs working across the region together with the service ships that support them. Then there are thousands of tankers and gas carriers that arrive each year to load energy cargoes for far-flung destinations.

30 Nov 2022

Inmarsat to Roll Out IoT Solution to More than 60 Zamil Offshore Vessels

©Zamil Offshore via Inmarsat

Inmarsat, a mobile satellite communications services provider, will roll out an Internet-of-Things (IoT) solution to more than 60 of Saudi-based Zamil Offshore's vessels in the Gulf area.The solution - powered by Fleet Connect and Fleet Data delivered through Inmarsat’s Fleet Xpress - will allow Zamil to identify, trial and select the best solutions to meet vessel performance expectations set by its charterer, Saudi Aramco. The news of the deal between Inmarsat and Zamil Offshore follows a successful trial on the fleet’s anchor tug, Zamil 57.

16 Sep 2022

Amogy Ammonia-to-power System Receives LR Approval in Principle

(Image: Amogy)

Brooklyn, N.Y.-based Amogy said its ammonia-to-power system has received approval in principle (AIP) from classification society Lloyd’s Register, marking a key step toward the zero-emission solution's commercial use in maritime vessels. The system cracks liquid ammonia to hydrogen, which is then used to generate electrical power through proton-exchange membrane (PEM) fuel cells.With the AIP in hand, Amogy said it will continue the technology qualification and type approval processes…

27 Jul 2022

IMI, Hyundai Heavy Industries Expanding Shipbuilding Partnership

The agreement between the shipbuilders was signed by Dr. Abdullah Al Ahmari, CEO of IMI, and Mr. Ohmin Ahn, Executive Vice President at HHI, at the King Salman International Complex for Maritime Industries and Services in Ras Al-Khair, Saudi Arabia. Photo courtesy IMI/HHI

International Maritime Industries (IMI), the largest shipyard in the MENA region, has expanded its partnership with Hyundai Heavy Industries (HHI) through a technical service agreement to further enhance its shipbuilding capabilities.Under the agreement, HHI will provide technical assistance and consulting services in Very Large Crude Oil Carrier (VLCC) engineering to IMI, reflecting its commitment to supporting the development of IMI’s shipbuilding capabilities and engineering services since its launch in 2017.The agreement was signed by Dr.

18 Jul 2022

Guyana Races Against the Clock to Bank Its Offshore Oil Bonanza

Liza Destiny FPSO offshore Guyana - Credit: Rolf Jonsen

For the poor, small South American country of Guyana, there's no time like the present when it comes to reaping the rewards of its offshore oil jackpot.With sky-high oil prices, a transition to renewable energy on the horizon, and 750,000 citizens desperate for better lives, Guyana is putting its foot on the gas to exploit its vast oil reserves, even if that means sacrificing some longer-term gains.Already locked into contracts with oil firms that have been criticized for being too one-sided…

17 May 2022

Seaborne Oil a Lifeline as German, Polish Refiners Swerve Russian Supply

© Horst Schmidt / Adobe Stock

Seaborne oil has thrown a lifeline to refiners in eastern Germany and Poland, with non-Russian deliveries into the Polish port of Gdansk hitting at least seven-year highs this month as they switch away from Russian supply.Imports booked for May into Gdansk from Egypt, the United States, Norway, Britain and West Africa had hit 8.4 million barrels by May 16, their highest level according to Refinitiv Eikon ship tracking data that goes back to 2015.At the same time, Russian crude booked for May into Gdansk and the port of Rostock stood at 700…

17 May 2022

First Jack-up Rig Built for IMI Loaded Out

Image Credit: IMI (Supplied)

International Maritime Industries (IMI), which describes itself as the largest shipyard in the MENA region, and offshore construction firm Lamprell on Tuesday announced the successful completion of the load-out and float-off of the first jackup drilling unit being constructed for IMI.The jack-up rig will now undergo intensive mechanical completion and commissioning before being transferred to IMI’s yard in Ras Al Khair, Saudi Arabia, for final commissioning before going on a contract…

06 May 2022

Guyana in 'No Rush' to Draft New Offshore Oil Production Sharing Agreement

An FPSO offshore Guyana - (File photo: Hess Corp.)

Guyana is in "no rush" to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output.The government of South America's newest crude oil producer said in 2021 it was planning a new agreement to revamp terms and boost royalties for future oil and gas projects. The proposed document was expected to improve terms for Guyana of a 2016 contract with Exxon Mobil and its partners for the prolific Stabroek block.But the tiny nation…

05 Aug 2021

SABIC Profits Soar, 2H Looks 'Strong' Too

Image courtesy SABIC

Petrochemicals giant Saudi Basic Industries Corp (SABIC) swung to a $2 billion quarterly profit and said it expects solid performance to continue in the second half of 2021, backed by healthy demand and rising oil prices.SABIC, the world's fourth-biggest petrochemicals company by sales and asset value, swung to a second-quarter profit of $2 billion (up from a $592M loss in the same period last year) beating the average forecast of $1.6B by six analysts according to Refinitiv data."Average selling prices rose by more than 10% backed by oil price increases and healthier demand.

15 Jun 2021

Grandweld Delivers Four Crewboats for HSM

(Photo: Grandweld Shipyards)

UAE shipbuilder Grandweld Shipyards reports it has delivered four crew boats for Saudi-based offshore oil and gas services provider High Seas Marine Industrial Services Co. (HSM).The newbuilds were handed over within a span of 14 months, despite the numerous challenges of the pandemic. They will be used to support HSM client Saudi Aramco.Grandweld said the newbuild project involved design specifications unlike existing market requirements, leading the shipyard to tackle several design challenges such as the use of a different kind of block…

15 Sep 2021

Saudi Aramco, McDermott Sign MoU for Use of SAFIRA Yard

Photo from the groundbreaking ceremony for the SAFIRA yard in February 2020 - File image: McDermott

Saudi Arabia's national oil company Saudi Aramco has signed a memorandum of understanding with energy industry construction and installation firm McDermott to explore the use of McDermott's SAFIRA fabrication yard for construction services for Saudi Aramco's upstream and downstream projects.McDermott's SAFIRA fabrication yard is being developed within Saudi Aramco's King Salman International Complex for Maritime Industries and Services in Ras Al-Khair. Once fully functional, the yard will have the capability to fabricate and assemble offshore platforms and jackets…

04 Jun 2021

AVEVA, IMI Extend Collaboration

AVEVA and  International Maritime Industries (IMI) extended their existing long-term collaboration with a new strategic partnership, a partnership designed to advance IMI’s engineering solutions to include production and manufacturing processes for the maritime sector in the Middle East and Africa (MEA).The new a joint venture involves Saudi Aramco, Lamprell Plc, Bahri and Hyundai Heavy Industries and spans a 10-year period, to optimize digitalization across the maritime lifecycle using AVEVA Unified Engineering and AVEVA Digital Ship and Shipyard Operations.Set to be fully operational by 2023, IMI is driving an accelerated and advanced digital program to ensure it is able to commence yard operations using the most advanced technology innovations.

08 Nov 2021

Saudi Arabia: IMI, Zamil in Offshore Support Vessel JV

Ahmed Al Saadi, Chairman of the Board of IMI - Credit: IMI (Cropped)

International Maritime Industries (IMI), which describes itself as the largest maritime yard in the MENA region, has signed a Joint Venture Agreement with Zamil Offshore to deliver Offshore Support Vessel (OSV) building and maintenance, repair, and overhaul services (MRO) in Saudi Arabia."The long-term agreement signed with Zamil, one of the Middle East’s largest shipyards and owners, operating a fleet of over 60 diversified vessels in Saudi Arabia, aims to enhance IMI’s localization efforts in the Kingdom and boost its lifecycle support services…