Stories

Lundin Petroleum Finds Arctic Oil

July 21, 2014

Swedish oil firm Lundin Petroleum has confirmed the size of a significant oil discovery in the Arctic, the company said on Monday after completing a second well. The Gohta discovery in the Norwegian section of the Barents Sea is now estimated…

China Studies Floating Gas Plants for South China Sea

July 16, 2014

Chinese energy giant CNOOC Group is studying the possibility of building a multibillion-dollar floating liquefied natural gas (FLNG) vessel, as-yet untried technology that would likely be used to produce gas from the deep waters of the South China Sea.

Ugandan Court Orders Tullow Oil to Pay $407m Over Sale

July 16, 2014

A Ugandan court has ordered British explorer Tullow Oil to pay $407 million in relation to a 2012 sale of oil field stakes, state-run New Vision newspaper said on Wednesday. One industry source told Reuters Tullow Oil had already paid $142 million of that amount…

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Saipem Wins Brazil, Angola Contracts

July 15, 2014

Italian oil services company Saipem said on Tuesday it had won contracts in Brazil and Angola worth a combined $600 million. Under the Brazilian contract, Saipem will lease its Cidade de Vitoria floating production storage and offloading (FPSO)…

MacGregor's Pusnes Offloading System for FPSO

July 12, 2014

MacGregor, part of Cargotec has won an order from Bumi Armada Berhad, a Malaysia-based international offshore oilfied services provider, to supply a Pusnes offloading system for a floating production storage and offloading (FPSO) conversion project.

Kongsberg, OMV to Deliver Real-time Drilling Support

July 11, 2014

Kongsberg Oil & Gas Technologies AS, a wholly owned subsidiary of Kongsberg Gruppen ASA, has signed a four-year, multimillion dollar drilling data contract with Vienna-based OMV Group for all of its global drilling activities. The contract calls…

Cargotec to Supply Equipment for OSVs

July 11, 2014

MacGregor, a part of Finnish cargo-handling equipment maker Cargotec, has won an order to supply equipment for vessels to be built for Bumi Armada Berhad, a Malaysia-based international offshore oilfield services provider, Cargotec said on Friday.

Pertamina Awards EPCI Contract for Matindok Gas Project

July 10, 2014

Technip, in a consortium with PT Wijaya Karya (Persero) Tbk (WIKA), was awarded an onshore lumpsum contract by PT Pertamina EP for the Matindok Gas Development project located in Central Sulawesi, Indonesia. The contract covers the engineering…

Baltic Exchange Honors Eyal Ofer with Life Membership

July 10, 2014

London's Baltic Exchange informs that the achievements of Eyal Ofer, the principal of ship management company Zodiac Group, have been celebrated with the award of honorary life membership of the Exchange. The prestigious award was last awarded in 2009 to the late Sammy Ofer…

Alfa Laval’s Paved Way For Environmental Solutions

July 10, 2014

Alfa Laval claims a place as one of today’s environmental frontrunners among marine equipment suppliers. The company’s Pure Thinking portfolio comprises not only compliant solutions for the broadest range of environmental legislation, but also…

River Towboat Pair Order for Gulf Island Fab

July 10, 2014

Gulf Island Fabrication, Inc. (GIFI) informs that through its subsidiary Gulf Island Marine Fabricators, L.L.C., it has signed a contract for the fabrication of two 8,000 bhp twin screw diesel-engined river towboats. Revenue backlog and man…

Teekay LNG Acquires Interests in Four LNG Newbuildings

July 8, 2014

Teekay LNG Partners L.P. announced that it has acquired from BG Group ownership interests in four 174,000 cubic meter Tri-Fuel Diesel Electric (TFDE) liquefied natural gas (LNG) carrier newbuildings, which will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China.

FPSO Contract Suspension Could Cost Petrobas US$15-bln

July 8, 2014

Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018 if it had to suspend oil platform contracts with Holland's SBM Offshore NV, the company said in a securities filing. The potential reduction…

Petrobras: End of SBM Contracts Might Trim Profit

July 7, 2014

Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018 if it had to suspend oil platform contracts with Holland's SBM Offshore NV, the company said in a securities filing. The potential reduction…

Chariot Oil & Gas Investments & Woodside Sign Agreement

July 5, 2014

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company,  informed that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd., has signed a farm-out agreement with a wholly owned subsidiary of Woodside…

EIVA Adds Reseller in China

July 3, 2014

China has been the destination of quite a number of orders shipped from Danish EIVA the last couple of years. Due to expectations of further growth in demand from this market for EIVA solutions, the company said it has added a new member to the group of authorized resellers in China.

U.S. 2014 Refinery Capacity, Ownership, Updated in EIA Analysis

July 2, 2014

In its 2014  U.S. petroleum refinery update the U.S. Energy Information Administration - EIA - informs that capacity edges up, ownership shifts. Details as follows: As of January 1, 2014, there were 139 operating refineries and three idle refineries…

Ithaca Energy's $300M Senior Notes Pricing

July 2, 2014

Ithaca Energy Inc. announced that it has priced its offering of $300 million aggregate principal amount of 8.125% senior unsecured notes due 2019 at par. Interest will be payable semi-annually. The offering is expected to complete on or about 3 July 2014…

Wood Group Kenny Wins Ghana Contract for Subsea Engineering

July 1, 2014

Wood Group Kenny (WGK) has been awarded an engineering services contract to support Tullow Ghana Limited and its partners through the execution phase of the Tweneboa, Enyenra and Ntomme (TEN) project, offshore Ghana. WGK will provide subsea, umbilical, risers, flowlines (SURF) engineering services.

Det norske Lifts Resource Estimate for Ivar Aasen Field

June 30, 2014

Norwegian oil firm Det norske has lifted the resource estimate for the Ivar Aaasen field in the North Sea after signing an agreement to combine several adjunct licenses and good drilling results, it said on Monday. The firm said the combined…

STELLA B1 Well Flow Test Completed

June 29, 2014

Ithaca Energy Inc. announced completion of flow test operations on the third development well on the Stella field, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day. Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stella field.

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