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Subsea 7 announces early termination of contract offshore Brazil

June 1, 2016

Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the early termination of the day-rate contract for Subsea 7’s  Pipelay Support Vessel (PLSV), Seven Mar, working for Petrobras, offshore Brazil, effective 31 May 2016. The contract was due to expire at the end of 2016 and as a result the Group backlog has diminished… Continue Reading »

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Gazprom: First cargo of Yamal oil shipped from Arctic Gate offshore terminal

May 30, 2016

An event marking the start of the year-round shipments of Yamal oil from the Arctic Gate (Vorota Arktiki), an Arctic oil loading terminal, took place today in the Mys Kamenny settlement (Yamal Peninsula, Yamal-Nenets Autonomous Area). The event was attended by Alexey Miller, Chairman of the Gazprom Management Committee, and Alexander Dyukov, Chief Executive Officer… Continue Reading »

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Sevan Marine: Continuation of FLNG feasibility study with US oil major

May 12, 2016

Reference is made to the paid FLNG feasibility study announced in Q3 2015 for the use of Sevan Marine’s cylindrical hull for a specific FLNG development. Sevan Marine is pleased to announce that it has agreed a continuation of this work. Sevan Marine has been awarded a follow up study focused on the marine aspects… Continue Reading »

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Kosmos Energy announces significant gas discovery offshore Senegal

May 11, 2016

Kosmos Energy (NYSE: KOS) announced today that its Teranga-1 exploration well offshore Senegal has made a significant gas discovery. Located in the Cayar Offshore Profond block approximately 65 kilometers northwest of Dakar in nearly 1,800 meters of water, the Teranga-1 well was drilled to a total depth of 4,485 metres. The well encountered 31 meters… Continue Reading »

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Anadarko Strikes Oil Off Ivory Coast

May 10, 2016

The U.S. independent oil company Anadarko has hit net pay at its CI-103 block, offshore Ivory Coast. In its quarterly results presentation on Monday, the company revealed it struck approximately 100 net feet of vertical pay in the company’s first horizontal deepwater well at Paon-5A, offshore the West African country. The company is using the… Continue Reading »

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Wood Group awarded contract across Shell’s North Sea offshore assets

May 8, 2016

Wood Group has been awarded a three year contract extending its support of Shell’s eight UKCS offshore assets. Wood Group PSN (WGPSN) will continue to deliver maintenance and construction services to the Shearwater, Gannet, Nelson, Curlew, Brent Delta, Brent Alpha, Brent Bravo and Brent Charlie installations. In addition WGPSN will provide engineering modifications to the… Continue Reading »

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Bourbon Revenues Slip

May 7, 2016

Bourbon has posted lower adjusted revenues for the quarter ended March 31, 2016 caused by the continuing market slump which led to drop of utilisation and daily rates. The French vessel owner and offshore services provider generated a total of €314.5 million in first-quarter adjusted revenues, down 18% from a year-ago quarter (€383.6 million) and… Continue Reading »

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OTC 2016 Slideshow Features An Offering for Everyone

May 7, 2016

Day Two of the international gathering of the world’s most serious offshore drilling players did not disappoint as the hall of the NRG Center was filled to the brim with enthusiasts. In keeping with the theme of OTC 2016: Endless Innovation, the Bureau of Safety and Environmental Enforcement presented their annual report to a group… Continue Reading »

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OTC 2016 Slideshow: Check Out Day One

May 6, 2016

OTC 2016: Endless Innovation kicked off Monday, May 2 in Houston with a variety of offshore companies showcasing the latest in their technology. Many executives have recognized that innovation and doing more with less will be a key to the industry’s recovery. On the floor, 2,600 exhibitors offered their visitors from around the world interactive… Continue Reading »

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OTC 2016: Cambodia Decision on First Oilfield Development by Year End

May 5, 2016

Cambodia is expected to make a decision on the development of the country’s first oilfield project at offshore Block A in the Gulf of Thailand, which is being developed by Singapore-based KrisEnergy Ltd., by year end, Dr. Men Den, deputy general director of the General Department of Petroleum (GDP) in the Ministry of Mines and… Continue Reading »

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