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Norway Confirms Small Arctic Oil Find
Norwegian oil explorer Det norske made a small oil discovery in the Arctic Barents Sea with a gross oil column of about 30 metres and much poorer reservoir quality than expected, the Norwegian Petroleum Directorate said on Monday. Det norske…
Denmark's OW Bunker to announce IPO this week
Danish ship fuel supplier OW Bunker aims to publish plans for a stock market listing this week, three sources familiar with the matter told Reuters on Monday. "The plan is to be listed before Easter," one source said, adding that Morgan Stanley, Carnegie, Nordea and ABG would lead the IPO.
Deep Down Challenges Tackled by ABB Technologists
ABB explain that as offshore shallow-water oil and gas reserves run dry, the industry is turning to deeper waters which sets great technical challenges . It was not until 1934 that the first manned submarine reached a depth of just 914m (0.6 miles).
Aegean Profitable in 2013 Despite Bunker Market Challenges
Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Quarterly & full year highlights Recorded sales volumes of 2…
Saipem wins $520m offshore contracts in Congo, Indonesia
(Reuters) - Saipem has won new contracts for off-shore engineering and construction in Congo and Indonesia worth a total $520 million, the Italian oil services group said on Monday. Saipem said parent company ENI had assigned a consortium led…
Teekay Offshore Buys Towage Firm, Orders New AHTS Vessels
Teekay Offshore Partners say they have agreed to acquire ALP Maritime Services B.V. (ALP), a Netherlands-based provider of long-haul ocean towage and offshore installation services to the global offshore oil and gas industry. Details as follows…
CAMAC Contracts FPSO for Offshore Nigeria
CAMAC Energy Inc. announced that a long-term contract has been signed for the floating production storage and offloading vessel (FPSO) Armada Perdana. The contract provides for an initial term of five years beginning January 1, 2014, with an…
Accommodation and Features are Key for Offshore Housing
Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation. Now accommodation and special features join safety as the key components for a new range of comfortable, large-scale offshore housing vessels.
Floating Production Market Forecast
$136 billion expenditures forecast for Floating Production Unit purchases over the next five years Today, 319 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 74% of systems on order.
New Wärtsilä Propeller Speeds Up Australian FPSO
Wärtsilä say that the technical design and installation of a new fixed pitch propeller (FPP) for the floating production storage and offloading vessel (FPSO) Ngujima-Yin has been successfully completed. The FPSO is operated by Woodside Energy Ltd…
Aker Solutions Holds Its Own in Q4 2013
Financial Highlights in the fourth quarter of year 2013 were as follows: Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1.06 billion in the quarter…
The Quest for Arctic O&G Standards
Improving and updating Arctic design standards for material, equipment and offshore structures for the petroleum, petrochemical and natural gas industries. Seventy representatives from seven countries met for two days in St. John’s, Newfoundland…
Commercial Marine World on Show at Seawork
From countries across the globe, including Australia, Canada, the U.S. and Europe, more than 500 exhibitors will be at Seawork International, the commercial marine exhibition and conference, opening on Tuesday, June 10 for its annual three-day run in the ABP Port of Southampton, U.K.
Deltamarin Designs FPSO for Bumi Armada
Deltamarin signed a contract with Bumi Armada, for the basic design of a floating production, storage and offloading (FPSO) unit. In November 2013, the Malaysia-based international offshore oilfield services provider, Bumi Armada, announced…
Netherlands Shipyard to Build Ship for China
IHC Merwede says it has been successful in securing orders worth € 350 million for a wide range of dredging and offshore vessels and equipment, including a large trailing suction dredger for a Chinese customer. News of the orders as follows…
IHC Merwede Wins Dredging and Offshore Orders
IHC Merwede has secured orders worth €350 million for a wide range of dredging and offshore vessels and equipment. The company’s Dredging division has confirmed new contracts for the delivery of a large custom-built trailing suction hopper dredger…
Northern Offshore's Jackup 'Energy Endeavour' Charter Extended
Northern Offshore U.K. Ltd., says it has received notice that Wintershall Noordzee B.V. (Wintershall) is exercising the first of two six-month options for the jackup 'Energy Endeavour'. The charter option is in direct continuation following the end of the well in progress on May 1…
Arctic Standards Development Moves Ahead
Improving and updating Arctic design standards for material, equipment, and offshore structures for the petroleum, petrochemical and natural gas industries. Seventy representatives from seven countries met for two days in St. John’s, Newfoundland…
North Sea FPSO Power Contract for Wärtsilä
Wärtsilä say they are to supply a 62 MW topside power module solution for a Floating Production, Storage and Offloading (FPSO) vessel to be deployed at the Kraken oilfield located in the U.K. sector of the North Sea. This EPC (engineering, procurement…
Happy Birthday to Us!
This year Maritime Reporter & Engineering News celebrates its 75th Anniversary. Founded by in 1939, the publication today reigns as the largest audited publication serving the global maritime industry, with a circulation of more than 35,000.
Where is Floating Production Headed?
The number of floating production units grew 5% in 2013. Here we examine the global market and future opportunities. Currently, there are 319 oil/gas floating production units are now in service, on order or available for reuse on another field.