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North Sea Crude-Forties Firms on Buzzard Supply Cut
North Sea Forties crude differentials rose on Friday, supported by the ongoing supply cut from Nexen's Buzzard field, which has delayed loading of a number of April and May cargos. Nexen said this week that output from the Buzzard oilfield had…
Oil Firms Sweat Aging North Sea Assets
Services firms compete for late life assets; $335 billion prize still up for grabs. Streamlining processes and better planning are vital. Smaller oil producers are teaming up with engineering and oil services companies in Britain's North Sea…
Gulf Island Fab Reports Q1 2014 Revenue Increase
Houston headquartered Gulf Island Fabrication, Inc. reported net income of $3.5 million ($0.24 earnings per share) on revenue of $134.7 million for its first quarter ended March 31, 2014, compared to net income of $2.8 million ($0.19 earnings…
Safety the Focus as Heavy Lifting Picks Up
Modern heavy lift capabilities are crucial for safe, efficient operations offshore Heavy lift operations offshore are an awe-inspiring feat, but an operation that requires consistent monitoring of man, machine and procedure to ensure they are conducted in as an efficient and safe manner as possible.
New Malaysian Offshore Gas Pipeline Safely Tested
T.D. Williamson (TDW) announced that as the result of a pressure isolation carried out on a major export gas pipeline offshore Malaysia, the pipeline was safely hydro-tested and made ready for commissioning. The isolation was carried out by…
McDermott Elect G.P. Luquette Board Chairman
Provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide, McDermott International, say that Gary P. Luquette has been elected as non-executive Chairman of McDermott’s Board of Directors, effective May 6, 2014.
MTR April 2014: Editor's Note
While the Offshore Oil & Gas markets continue to push further from shore in ever-deeper waters, the need for proven technology to work more efficiently in increasingly hostile and unfamiliar environments grows in tandem. And while growth in the energy sector continues to energize multiple markets…
Offshore Floating Production Hits Headwinds
Floating Production inventory continues to grow, but rising costs, shale oil and gas are starting to create significant headwinds Floating production has been one of the most significant developments in the oil and gas industry over the past four decades.
Lundin Book US$66-Million Offshore Exploration Costs
Swedish oil explorer Lundin Petroleum will book a net exploration cost of $66 million in the first quarter of this year, it said on Tuesday. "During the Period, Lundin Petroleum completed two exploration wells in Norway and two exploration wells…
World Petroleum Congress to be held in Moscow
Deputy Prime Minister of the Russian Federation, Arkady Dvorkovich, has confirmed that the 21st World Petroleum Congress will be held in Moscow from 15 – 19 June 2014. The congress will be the largest international event in the global oil and gas industries.
TEPNG Integrates AVEVA Engineering & Design
AVEVA announced that TOTAL E&P Nigeria Ltd. (TEPNG) has adopted AVEVA’s Engineering & Design solutions as part of an Integrated Engineering & Design approach. TEPNG is the operator of a joint venture with the Nigerian National Petroleum Corporation (NNPC).
AVEVA Provides Solutions to TOTAL E&P Nigeria Limited
Owner Operator standardizes on AVEVA Engineering & Design Solutions for increased efficiency on all new projects. AVEVA announced that TOTAL E&P Nigeria Ltd (TEPNG) has adopted AVEVA’s Engineering & Design solutions as part of an Integrated Engineering & Design approach.
18 O&G Leaders Appointed to NOIA Board
The National Ocean Industries Association (NOIA) appointed 18 industry leaders to its Board of Directors on April 10, 2014 during its Annual Meeting in Washington, DC. Appointed to their first term on the Board of Directors: Benjamin G. Bordelon…
Three European firms win Angola deepwater deals
Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger scale and risk for the deep-sea contracting and construction sector. Saipem of…
Rolls-Royce to supply machinery for 4 tugs for ALP Maritime Services
Rolls-Royce has been awarded a £19m contract to deliver deck machinery for four ocean going tugs, designed by Ulstein Design & Solutions, for Dutch company ALP Maritime Services. The vessels will be constructed in Japan by Niigata Shipbuilding & Repair.
Total Moves Ahead Offshore Angola
France's Total said it would go ahead with a deepwater project offshore Angola after cutting its cost to $16 billion, keeping Africa's No.2 producer on track to expand its oil industry. Development of the ultra-deep Kaombo field has been repeatedly delayed on cost grounds…
Chevron, YPF Continue Development of Vaca Muerta Shale in Argentina
Chevron Corporation (NYSE: CVX) today confirmed that subsidiaries of the company have signed agreements with the Argentine oil company YPF S.A. to continue development of shale oil and gas resources from the Vaca Muerta formation located in the Neuquén province in Argentina.
SEMBCORP MARINE’S SEMBAWANG SHIPYARD TO REVITALISE 'VOYAGER OF THE SEAS'
Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured an agreement with RCL Cruises Ltd., a member of the Royal Caribbean Cruises Ltd. group, to perform the extensive revitalisation of Royal Caribbean International’s 137,276-gross tonnage, passenger-ship 'Voyager of the Seas'.
ALP Tugs Get Rolls-Royce Deck Equipment
Rolls-Royce has been awarded a £19m contract to deliver deck machinery for four ocean going tugs, designed by Ulstein Design & Solutions, for Dutch company ALP Maritime Services. The vessels will be constructed in Japan by Niigata Shipbuilding & Repair.
Keppel Extends Strategy into China
Company signs agreement to manage a shipyard in Quanzhou, China. Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly owned subsidiary, FELS Offshore Pte Ltd, has signed a management services agreement with Titan Petrochemicals Group…
WFW Advises FPSO Joint Venture Debt Financing
International law firm Watson, Farley & Williams Asia Practice LLP (WFW) said it advised a joint venture involving M3nergy and PT Transamudra as sponsors on a $182 million term facility and $38.4 million guarantee facility. The funds will finance the floating production…