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Category Archives: News

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GC Rieber Wins PGS $9 Mln Claim Case

March 5, 2016

Bergen district court has dismissed claims of €9 million from seismic company Arrow Seismic (now PGS UK) against GC Rieber Shipping’s subsidiary Armada Seismic Invest II (Armada) in connection with the delivery of 3D seismic vessel Polar Duchess. Namely, in 2012 Arrow alleged that Armada had acted negligently when the company took delivery of the… Continue Reading »

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Moody’s Downgrades Offshore Drillers, Including Ensco, Transocean

March 4, 2016

Prolonged weakness in oil and gas prices is taking its toll throughout the energy industry, and as such, Moody’s Investors Service is recalibrating its ratings for several companies in one direction: down. “The drop in oil prices and weak natural gas prices has caused a fundamental change in the energy industry, and its ability to… Continue Reading »

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Norfolk Marine, Geomara Team Up

March 1, 2016

Norfolk Marine and Geomara have signed a cooperation agreement to work together to provide a range of interrelated maritime services. The agreement should bring together Norfolk Marine’s experience as a specialist marine contractor operating vessels, dive teams and Inspection class ROV’s with Geomara’s expertise in the area of hydrographic and geophysical survey. Working from Norfolk Marine’s UK… Continue Reading »

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World’s Largest Underwater Restaurant En Route to Maldives

February 29, 2016

Global shipping & logistics services provider, GAC, has organised move of the world’s biggest underwater restaurant from New Zealand to Maldives resort. The 22.5 meters long acrylic and steel structure is on its way to the Maldives, thanks to GAC’s project logistics expertise. It took 12 months of detailed planning based on GAC’s CAD-assisted lifting and… Continue Reading »

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Brazil Senate Votes to Limit Petrobras Role in Deep Waters

February 28, 2016

Brazil’s Senate approved legislation that relieves Petrobras of its role as sole operator and mandatory stakeholder in so-called pre-salt deepwater oilfields, potentially allowing the state-run company to direct resources to more profitable operations. Legislators on Wednesday night voted 40 to 26 in favor of the bill, which was introduced by opposition Senator Jose Serra and now goes… Continue Reading »

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SandRidge Energy To Skip Some Interest Payments, Talk With Bondholders

February 25, 2016

SandRidge Energy Inc, a U.S. shale producer struggling to weather a steep fall in oil prices, said on Wednesday that it will not make interest payments on some of its debt and use its 30-day grace period to negotiate with its bondholders. The Oklahoma City-based company, which last month said it hired restructuring experts as… Continue Reading »

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EU Halts Halliburton, Baker Hughes Deal Review, Awaits Details

February 23, 2016

European Union antitrust regulators have halted their scrutiny of U.S. oilfield services provider Halliburton Co’s proposed takeover of Baker Hughes because the companies failed to provide some details of the $35 billion deal. The European Commission took the decision last Thursday, according to a filing on its website. “This is a standard procedure on merger… Continue Reading »

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India to Enhance Investment Appeal to Boost Domestic Oil, Gas Production

February 17, 2016

India is committed to enhancing the country’s business appeal to boost domestic oil and gas production in order to meet rising energy demand, Minister for Petroleum & Natural Gas Dharmendra Pradhan said at the “Made in India” event in Mumbai Monday. The Minister revealed that the government is committed towards creating a conducive business environment… Continue Reading »

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