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Search for missing boy Jack Dixon

cDiver

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October 6, 2014

In New Zealand, 5 year old Jack Dixon was swept out by a freak wave to the ocean on Shelly Beach located at Mount Maunganui last Wednesday afternoon. Their family was on the beach and the kids including Jack were playing when a huge wave dragged him farther from the shore. The relatives were able to pull the kids out of the water but unfortunately they weren’t able to see Jack anymore.

Soon after the incident, people have volunteered to search for Jack despite the terrible weather. Almost 50 searchers and rescuers have been scouring the area to find the missing boy. Search help is still pouring in which includes 6 professional commercial divers from Tauranga, 2 dive instructors from Dive Zone and surf lifeguards. They are determined to exert all efforts and use their knowledge to bring him home.

According to the owner of Greenfield Diving Services Brendon Cappely they just wanted to lend a helping hand with the operation. “I’ve got a couple of young children around the same age [as Jack] and it’s just a chance to help out. We’ve got the resources and equipment to potentially bring him home,” he said.

The search effort is being conducted in a systematic way so as to keep the search crew safe as well considering the bad weather and the tides that they have to deal with. An overnight search was cut short due to high tides and limited visibility. It was set to resume the next morning.

The family of the child is still in shock but begins to realize the gravity of the situation. New Zealand police Inspector Karl Wright-St Clair keeps them updated with the latest status of the mission.

Help, financial aid and moral support keeps coming from the community. Some people have conducted candlelight vigils for Jack and provided hot food for the search team. A donation page was set up to raise a little fund targeting $5000 for the costs of the operation. Astonishingly, the campaign has already raised $36,000.

Subsea 7 Lands Baobab Gig (Ivory Coast)

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October 6, 2014

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Subsea 7 S.A. has been awarded a contract in the Ivory Coast by CNR International in support of its Baobab Field Phase III development.

The scope of work covers the installation of spools and umbilicals. The effective date of the contract is 25 September 2014, with the main offshore installation phase expected to be executed by the Subsea 7 vessel the Seven Pacific in the second quarter of 2015. Onshore project management and engineering will be carried out from the Company’s Paris office.

Olivier Carré, Subsea 7′s Senior Vice President, Africa & Gulf of Mexico, said: “This project has numerous phases which will need to be executed under a demanding timetable. We look forward to meeting these demands and developing our relationship with CNR International while consolidating our presence in West Africa.”

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DOF Wins Tax Dispute

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October 6, 2014

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DOF Rederi AS, a subsidiary of DOF ASA has won a court case against the Norwegian Central Tax office regarding extra correction tax for 2008, which has been found in contravention of the legislation for the current tax year.

The lawsuit has a certain connection to the earlier constitutional conflict related to the Norwegian Tonnage tax regime.

After DOF Rederi won the lawsuit in the District Court and in the Appelate Court, the Supreme Court has on 2nd October rejected the final appeal from the Norwegian Central Tax Office. Thererore, the case is final and in favour of DOF Rederi.

The company will be reimbursed with approximately $6,2 million (NOK 40 million) in taxes and legal costs related to the proceedings.

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BC Leader ‘Confident’ Petronas LNG Project in Canada to Move Ahead

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October 5, 2014

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BC Leader ‘Confident’ Petronas LNG Project in Canada to Move Ahead

VANCOUVER, Oct 2 (Reuters) – British Columbia’s leader is “very confident” that Malaysia’s Petronas will move ahead with a liquefied natural gas (LNG) export terminal in the Canadian province, despite threats from the company that it could pull out of the roughly $11 billion project.

Premier Christy Clark, speaking with reporters on Thursday, said meetings this week with Petronas chief executive Shamsul Azhar Abbas were “productive,” but she declined to put a timeline on a final investment decision from the state-owned oil and gas company.

“Both sides really want to make this project a success, we both want it to work,” she said. “So we’ve got some negotiating ahead of us, we’re right in the midst of that right now, and I’m very confident that we are going to conclude that negotiation successfully.”

A spokesman for the company, officially known as Petroliam Nasional Bhd, was not immediately available for comment.

Considered a front-runner in the race to build Canada’s first LNG export facility, Petronas had promised a final investment decision on its Pacific NorthWest LNG project by year-end.

But last week the company threatened to call off the project, which is part of a broader $35 billion investment in Canadian natural gas, over slow progress on a taxation plan, a lack of incentives and regulatory delays.

In an interview with the Financial Times, chief executive Shamsul criticized the province over its proposed LNG tax and said “the project remains uncertain and I doubt we will be able to make a positive (final investment decision) by year-end.”

British Columbia has not yet finalized the details of its new LNG tax, which could determine the fate of its nascent gas export industry. The tax legislation will be unveiled in the provincial legislature later this month.

Clark said her government is working hard to hammer out a plan that is economically viable for companies like Petronas while still providing returns to the province.

“My job is to maximize the benefits for our shareholders, and that’s the people of British Columbia,” she said. “But I also know that 100 percent of zero is zero, so we have to land that tax at the right spot.”

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KS Discoverer 1 Contract in Kurdistan Terminated Due to Force Majeure

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October 4, 2014

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KS Discoverer 1 Contract in Kurdistan Terminated Due to Force Majeure

KS Energy Limited (the Company and together with its subsidiaries, the Group) previously announced that Atlantic Onshore Services BV, a subsidiary of KS Drilling Pte Ltd (KS Drilling), had entered into a contract to provide drilling services and the charter of “KS Discoverer 1”, the Group’s 1,500HP onshore drilling rig (the Rig), with OP Hawler Kurdistan Limited (formally known as Norbest Limited) (the Client). Work was expected to continue until the first quarter of 2015.

Due to the continuing unrest in Kurdistan and restricted/no access to the work-site for security reasons, the Client declared an event of Force Majeure in August and recently issued a notice of termination of the contract.

While the Rig is currently secure there is limited access to the work-site due to security concerns. KS Drilling continue to engage the Client and has reserved its rights under the contract pending retrieval of the Rig from the work-site when the security situation permits.

The Company will provide further updates in the event of any material developments. KS Discoverer 1 and KS Discoverer 4, also stationed in Kurdistan, are insured against war & terrorism perils in-line with KS Drillings’ policy on insurance.

None of the Directors or Substantial Shareholders of the Company has any direct or indirect interest in the aforesaid transactions, other than for their respective interests, through their shareholdings and/or directorships, as the case may be, in the Company.

KS Drilling, an 80 percent-owned subsidiary of the Company, is an investment holding company. The main activities of its subsidiaries are in the provision of onshore and offshore drilling services, rig management and support services, oilfield equipment ownership and leasing.

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Mubadala Spuds Two Wells Off Thailand

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October 4, 2014

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Mubadala Petroleum, Operator of the Manora Oil Development joint venture, has advised that the Atwood Orca jackup drilling unit has spudded the fourth and fifth of 15 planned development wells, MNA-04 and MNA-05. They have also advised that MNA-03 has been drilled to the final target depth.

The MNA-04 and MNA-05 wells will be drilled to final target depths of 3,430m and 1,934m measured depth respectively and MNA-05 will be completed with electric submersible pumps (ESPs) ahead of handover to Production. MNA-04 is the first of the five planned water injector wells.

The Manora A platform is located within the Gulf of Thailand in 46 metres of water. The development drilling program calls for drilling and completion of 15 wells (10 producers and 5 injectors), with the program expected to take until the end of Q1 2015. Production at Manora is now expected to start in the second half of October, rather than at the end of the third quarter 2014.

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Shell Evacuates North Sea Platform After Container Drops Into Sea

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October 4, 2014

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Shell Evacuates North Sea Platform After Container Drops Into Sea

LONDON, Sept 29 (Reuters) – Royal Dutch Shell said on Monday it is evacuating non-essential staff from a North Sea oil platform after a container unit fell from a crane into the sea but caused no injuries.

The oil company said mechanical failure affected the crane on Sunday evening at its Brent Alpha platform, located some 115 miles northeast of Lerwick in the Shetland Islands.

There was no impact on North Sea oil production as maintenance work to decommission the platform is ongoing.

“As a precaution the Brent Alpha and Bravo, which were already shut down as part of ongoing maintenance works, were depressurised,” Shell said in a statement.

An effort was underway to recover the container, which remains attached by rope and is currently around 20 feet below the sea surface, Shell said.

“An effort to recover the container and transfer it to a vessel is currently being planned. A support vessel is currently travelling to the Brent field,” the company added.

“A temporary, non-emergency evacuation of non-essential personnel will take place on Monday.”

The Brent oil field, discovered in 1971, was one of the largest oil fields in Britain’s North Sea, exploited via four platforms.

Shell is in the process of decommissioning Brent Alpha and plugging and abandoning work has already started, according to Shell’s website.

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Cape Nets Magnus Life Extension Project from BP

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October 4, 2014

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Cape Nets Magnus Life Extension Project from BP

Cape plc, an international leader in the provision of critical industrial services to the energy and natural resources sectors, announces the award of a contract with BP to supply its services within the Magnus Life Extension project, MLXP.

MLXP is a project being undertaken by BP as part of its North Sea renewals programme, and will see work carried out continuously from now through to Q2 2015. The North Sea business will then work systematically to renew and refresh the fabric of the asset on a large-scale-project basis, clearing the way to embark on new drilling and the value-adding work that will see Magnus maximise its potential.

Simon Hicks, Managing Director of Cape UK: “We are delighted to be awarded this project to support BP in its North Sea renewals programme, we look forward to working with BP to deliver this project safely and effectively”

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Subsea 7 Chooses Trelleborg’s Thermal Insulation for Erha North

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October 4, 2014

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Subsea 7 Chooses Trelleborg’s Thermal Insulation for Erha North

Trelleborg’s offshore operation has secured a contract to supply its high temperature thermal insulation material for phase two of the Erha North project, Nigeria.

Appointed by subsea engineering, construction and services company, Subsea 7, Trelleborg will supply several tonnes of its high temperature advanced silicone insulation solution, Vikotherm S1,to the numerous oil and gas flowlines in the field. Manufactured using room temperature vulcanization technology, the coating is ideal for the high 300 °F / 149 °C temperature.

Acim Rezig, SCM Engineer at Subsea 7, comments: “As the offshore industry continues to get more complex, we’re more frequently searching for products which not only meet the specification, but also provide added benefits such as time saving and increased efficiency. Trelleborg’s Vikotherm S1 insulation was the ideal choice for the project, as it caters to the water depths and temperatures to guarantee flow assurance.”

Lee Roskell, Proposals Team Manager within Trelleborg’s offshore operation, says: “We developed a high temperature, microsphere free product to improve overall performance of the insulation system. This provided an added assurance that the product has been installed properly and is fit for purpose; verifying both the cast insulation and substrate.

“We designed the product to cater to the harsh environment at the Ehra field, incorporating a unique silicone compound. The system can operate at ocean depths of 9,832 feet/3,000 meters and temperatures as high as 300 °F/149 °C, so that the flow of oil and gas is not compromised.”

The Erha North phase two development sits at 3,960 feet/1,200 meters deep and is an extension of the existing Erha subsea system and infrastructure, which is currently producing to the existing Erha floating production, storage and offloading (FPSO) vessel located in Nigeria. Trelleborg is expected to complete its supply of thermal insulation by quarter four of this year.

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Paper: Statoil Plans to Cut Another 500 Jobs

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October 4, 2014

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Paper: Statoil Plans to Cut Another 500 Jobs

OSLO, Oct 3 (Reuters) – Norwegian energy firm Statoil plans to lay off an additional 500 workers on top of already announced plans to eliminate up to 1,400 positions, financial daily Dagens Naeringsliv said on Friday.

The cuts, which mostly affect offshore workers, are part of Statoil’s efforts to cut costs and improve efficiency, and the firm has already started negotiations with employee groups over the layoffs, the paper said.

A Statoil spokesman declined to comment.

Statoil earlier this year cut its capital spending plans and output targets, offering a higher return to investors instead after years of negative cash flow after dividend payment.

With Brent crude prices falling over 20 percent since June to a more than two-year-low of $91.55 per barrel on Thursday, analysts see oil companies holding back spending even more than earlier planned.

To reduce capital spending, Statoil in recent months sold some producing assets to Germany’s Wintershall, stopped a Canadian oil sands project, delayed future developments in Norway and Britain, released or offered to sublet rigs and laid off workers.

The firm employed over 23,000 people in 2013.

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