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
Companies sign agreements for long-term operation of three vessels for the Sakhalin-2 project. SCF Group (Sovcomflot) and Sakhalin Energy Investment Company Ltd. have signed a contract for the construction and long-term operation of three multifunctional icebreaking standby vessels to serve
SCF Group (Sovcomflot) and Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) have signed a contract for the construction and long-term operation of three multifunctional icebreaking standby vessels to serve the Sakhalin-2 offshore energy platforms.
KKR invests in growth companies servicing the global offshore energy sector, including investments in Acteon, RigNet, Avincis (Bond Aviation) and Weststar. OEG is headquartered in Aberdeen, UK with regional hubs in the main offshore oil and gas regions including Singapore, Australia
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.
London Offshore Consultants, a global leader in marine and engineering consultancy for the shipping and offshore energy sectors, has further expanded its footprint in Asia, successfully registering LOC Seoul and opening the company's first office in South Korea.
Helix Energy says that its Robotics subsidiary, Canyon Offshore, Inc., has reached an agreement with a subsidiary of McDermott International, Inc. to provide remotely operated vehicle (ROV) services and equipment for McDermott’s fleet of subsea construction and pipelay support vessels.
Royal Boskalis Westminster N.V. reported a higher revenue for the first quarter of 2014 compared to the same period last year. This was in line with company expectations. This achievement was the result of Good utilization of the Dredging and Offshore vessels
Provider of satellite communications to remote and harsh environments, ITC Global, says it has appointed industry veteran Ashok Rao to open new operations in Singapore, and expand its business across Asia. The new Singapore office extends ITC Global's existing presence in Asia Pacific
Announcing its “All-of-the-Above” energy strategy today, the Obama Administration rightfully celebrates the United States’ new position as the largest global producer of energy but fails to acknowledge Federal actions that could bring even more resources to market
Offshore energy, whether oil, gas or wind, faces a tightening regime of restrictions. In Germany, for example, the German Federal Bureau of Maritime Traffic and Hydrography (BSH) recently updated its standards for offshore wind energy units, offshore converter and inverter stations
Plymouth Marine Laboratory (PML) announced it is to renew its partnership with the Institute for Marine Engineering Science and Technology (IMarEST). The year-long partnership will see the Institute and PML working together to encourage career development among the laboratory’s 166
Adding to its fleet of 37 conventional and ASD vessels, Signet Maritime Corporation took ownership of its ninth newly constructed tractor tug in six years. Signet Arcturus , a 105’ x 38’ Z-Drive, designed by Robert Allan Ltd. of Vancouver
Adding to its fleet of 37 conventional and ASD vessels, Signet Maritime Corporation took ownership of its ninth newly constructed tractor tug in six years. SIGNET ARCTURUS, a 105’ x 38’ Z-Drive, designed by Robert Allan Ltd
XL Group strengthened its Insurance Marine team with the appointment of Mike Davies as Chief Underwriting Officer, Marine, Asia Pacific and Ian Picton as Senior Upstream Underwriter. Understanding the local industry and what is impacting it, is a key recruitment driver for XL Group
Van Oord’s new DP2 cable-laying vessel, Nexus, was officially launched at Damen Shipyards Galati on June 30. The 123 m multipurpose vessel will be deployed installing electricity cables for offshore wind farms. The international contractor for dredging