National Ocean Industries Association President Randall Luthi encouraged by sales, urges further offshore developments. Tthe NOIA president's statement is as follows: "This sale is on-par with expectations and shows that the offshore oil and natural gas industry is still committed to domestic exploration and production. The Federal government benefits from this sale through non-income tax revenue and the promise of future income through rents and potential royalties upon production. With enormous economic challenges facing the U.S., and the impending "fiscal-cliff" dominating the national conversation, it is gratifying to see the offshore industry stepping up to the plate and providing hundreds of millions of dollars to the U.S. treasury. American energy consumers also stand to benefit from this sale through the increased energy security and reliability that successful development of leased tracts will bring. Any sale is good news for the offshore oil and natural gas industry, Federal government, and energy consumers, but todays sale should also serve as a reminder that Federal policy has placed nearly all of our offshore energy "eggs" in one basket. The Gulf of Mexico is America's offshore energy hub the source of about 30% of our domestic oil and around 11% of our domestic natural gas
New Orleans-based Tidewater Inc. elected James C. Day to its Board of Directors and reported it has hired Bruce Lundstrom as senior vice president, general counsel and secretary. Day joins Tidewater’s Board with more than 30 years of experience in the oil and gas industry. He is the retired chairman and former CEO of Noble Corp., one of the world’s largest offshore drilling companies. Day serves on the Board of Directors of ONEOK Inc
The offshore energy industry continues to evacuate workers from the in advance of Hurricane Ike. According to the Minerals Management Service, 78 percent of oil production was shut in because of the approaching storm. Some 23 percent of the platforms in the Gulf and 36 percent of the rigs in the Gulf have been evacuated. Platforms are the offshore structures from which oil and natural gas are produced. Source: The Times-Picayune
Fugro Atlantic to undertake a geological and geophysical survey for the Virginia Wind Energy Area for the Commonwealth of Virginia. The survey area covers over 45,000ha in the Atlantic Outer Continental Shelf and is seen to be a key step forward in developing offshore energy supplies in the region. In awarding the contract, Commonwealth of Virginia governor Bob McDonnell said: “[This is] a positive move forward toward the development of offshore wind energy
Experts from the offshore energy industry around the world came together May 6-9 for the 2013 Offshore Technology Conference at Reliant Park in Houston. Attendance at the conference reached a 30-year high of 104,800, the second highest in show history and up 17% from last year. Attendance surpassed the 2012 total of 89,400 and the sold-out exhibition was the largest in show history at 652,185 ft², up from 641,350 ft² in 2012
During the testimony today at a Senate Energy and Natural Resources Committee hearing on offshore energy revenue sharing, National Ocean Industries Association (NOIA) president Randall Luthi urged Congress to take the next step in enhancing America’s energy security, energy reliability and American jobs by increasing access to the Outer Continental Shelf (OCS) for energy exploration and development. “Only by providing additional oil and natural gas lease sales in more of the
Hvide Marine Incorporated, Fort Lauderdale, Fla., reported a net loss of $23.7 million for the quarter ended June 30, 1999. These results reflect a loss of $14.1 million on the sale of assets. Last year, Hvide held a net income of $9.5 million. Revenues of $78.3 million for the 1999 quarter were down 28 percent from the previous year's figure of $109.3 million, which reflects the falloff in day rates and utilization for the company's fleet of offshore energy support vessels
Acquisition strongly boosts RINA offshore and port development services. By taking control of the D’Appolonia Group, a global engineering consultancy, international classification society RINA has increased its group turnover by almost 50 per cent and significantly strengthened its expertise and range of services in the offshore and port development fields. Says Ugo Salerno, CEO, RINA, “By bringing the D’Appolonia Group’s 580 multidisciplinary staff and Euro87m
Helix Energy Solutions Group discover high quality pay oil in deep water 145 miles offshore from Galveston, Texas The Danny II exploration well was drilled to a total depth of approximately 14,750 feet, in water depths of approximately 2,800 feet. The well is currently being completed and most likely will be developed via a subsea tie back system to the company's 70% owned and operated East Cameron Block 381 platform located approximately 31 miles to the north in 370 feet of water
Wilhelmsen Technical Solutions (WTS) opens an office in Houston to service their increased offshore business. WTS is targeting increased business from the local offshore industry in the Gulf of Mexico and an expanded focus on Brazil, where deepwater offshore production is entering a new and dynamic phase. WTS Vice President, Americas Region, Philip Bannerman says the company is well placed to provide the mix of skills and competence in demand in these regions
Q3 TRADING UPDATE - HIGHLIGHTS Good third quarter with sizable financial settlements on old projects Order book increased slightly to EUR 3.3 billion 2014 OUTLOOK Market conditions remain challenging Good second half-year expected
Unrealistic Fears and Overstated Risks obscure the benefits of new seismic data. The United States stands poised on the edge of a bright energy future. After decades of decreasing domestic energy production and increasing reliance on foreign sources of oil and natural gas
Market volatility for the petroleum sector provides a backdrop to an evolving Merger & Acquisitions environment for the Offshore Sector. In the 3Q edition of Maritime Professional, this series of articles examined the overall evolution of maritime and offshore M&A activity since 2010
The United States Maritime Resource Center (USMRC) in Middletown, Rhode Island and ClassNK have announced the signing of a Memorandum of Understanding (MOU) laying out a framework for future technical cooperation to carry out joint research and development activities for the maritime industry.
The master of a wind farm support boat has been made to pay £3,000 in fines and costs after breaching maritime collision regulations, informs the UK Maritime and Coastguard Agency (MCA). Geoffrey Whinfrey was in charge of the Island Panther when it collided with a wind turbine in the
German offshore plants attract new investment; offshore energy a key component in switch from nuclear. Start-up costs high, but returns are attractive. Germany's offshore wind parks, once seen as only for brave investors because of high costs and operational risks
Crowley Maritime Corporation’s solutions group announced today that it has received the first two of potentially four, new heavy-lift, ballastable deck barges (HDBs) for use by clients in the Asia-Pacific region. These new barges, which will be contracted and managed from the
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank today announced that the bureau will offer 40 million acres offshore Louisiana
At the 34th WISTA International AGM & Conference held in Limassol, Cyprus, Sanjam Sahi Gupta, President of WISTA India was elected to the board of WISTA International.She is the first Indian lady and the youngest to be on the board.
The Offshore Technology Conference (OTC) announces the 2015 beneficiary of the Annual OTC Dinner—the Independent Petroleum Association of America (IPAA) and the Petroleum Equipment & Services Association (PESA) Energy Education Center for the benefit of the Energy Institute High School
Less than a week before the Offshore Energy 2014 Exhibition and Conference in Amsterdam the coming week, Tuco Marine disclosed the newest vessel in the ProZero series of Fast Rescue Boats, Daughter Crafts and Workboats; The New ProZero 11m Wind Farm Service Boat.
Naviera Integral of Mexico is the launching customer of Damen’s new Sea Axe Fast Crew Supply vessel, the FCS 4008. President of Naviera Integral, Juan Pablo Vega, signed the order for the two new vessels at an official ceremony at the Offshore Energy Exhibition in Amsterdam
Following the completion of preliminary sea trials, offshore energy support vessel operator Seacat Services unveiled the British-built Seacat Intrepid, the first DNV GL certified 26-meter crew transfer vessel to benefit from a unique three-year offshore wind farm workboat tank testing research and
James Fisher Marine Services Ltd (JFMS), and Fendercare Marine, both subsidiaries of James Fisher and Sons plc (JFS), held an open day to demonstrate the capability of their shoreside support base and the offshore support vessel, the Dart Fisher.
Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore energy industry is delighted to announce that, last Wednesday 5 November, the Group was declared as a winner at the Daman Corporate Health Awards which took place at