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London Offshore Consultants Expands in Asia

Kenny Ong, Manager of LOCs new Vietnam office in the port of Vung Tau, which will formally begin operations in May 2013. Photo: LOC

New office in Vietnam at the port of Vung Tau announced at Maritime Vietnam London Offshore Consultants (LOC) announced further expansion in Asia Pacific with the opening of a new office in Vietnam. The new office in the port of Vung Tau, which will formally begin operations in May, will be managed by Kenny Ong, who is highly experienced in major offshore oil and gas projects across Asia, especially in Vietnam. The office will provide oil majors, contractors, underwriters, and other insurers operating in Vietnam’s oil and gas sectors with specialist consultancy services for planning, design and execution of complex, high-value marine and energy-based operations. LOC’s expertise is in the construction, marine transportationand installation of structures onshore and, in particular, offshore. The group offers technical consultancy such as front-end advice on new technologies, assessing viability of proposed operations, approving such operations and monitoring their execution. Investigating operational problems is also covered by LOC’s remit. LOC’s client profile in Vietnam is oil majors including the national oil company, PetroVietnam, and its various arms and international and national offshore contractors working in Vietnam. These include both domestic underwriters and the international insurance market, particularly those insuring either the oil major or the project contractor. www.loc-group.com


Otto Marine Clinches Australia AHTS Contracts

AHTS Go Spica: Photo Otto Marine

Otto Marine says it has clinched AUD57-million worth of charter contracts in Australia for two of its large deep water AHTS vessels. Otto Marine Limited, which owns and operates a large fleet of offshore support vessels, with shipyard and other specialized offshore services, says that it has secured time charter contracts with two oil majors for its deep water anchor handlers, GO Sirius and GO Spica. Employed in drilling and pre-lay support, the 16


Profitable Year for Shipbuilding Companies

Increased spending on offshore exploration & production (E&P) of oil and gas has increased order-book positions of Indian shipbuilders. ABG Shipyard has an order backlog of Rs 1,300 crore, while Bharati Shipyard has pending orders worth Rs 676 crore on its books. The jump in order books is getting reflected in stock prices of these companies as well. BSL has seen its market cap soar to almost Rs 900 crore from Rs 309 crore at the beginning of 2005


Oil Majors Report High Profits

Driven by the sustained high price per barrel of oil, oil majors Chevron and Amerada Hess today announced outstanding financial results for the second quarter. Chevron, the No. 2 U.S. oil company, posted second-quarter profits which more than doubled, matching analysts' expectations, thanks to stronger oil and natural gas prices. Second-quarter earnings excluding special items rose to $1.14 billion, or $1.75 a diluted share, from $484 million, or 73 cents a diluted share, in the year ago period


Total Says Nigeria’s Oil Bill Will Hurt Industry

According to a September 21 report from the Associated Press, a top official at French oil major Total SA warned that a proposal to overhaul Nigeria's oil industry would hobble foreign investment, just as the firm prepares to bring a major offshore field into production. Analysts said the petroleum bill would sharply reduce the profits of foreign oil companies like Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and Total, all of whom have subsidiaries operating oil fields in Nigeria


EMAS Wins US$110-million Subsea & Offshore Contracts

EMAS logo web.jpg

Singapore's EMAS, the operating brand of Ezra Holdings, announce that its Subsea Services (EMAS AMC) and Offshore Support Services (EMAS Marine) divisions have been awarded projects worth US$110 million. These projects will be executed in the Gulf of Mexico and the Asia-Pacific region. EMAS AMC’s project wins come from a national oil company operating in the Gulf of Mexico for a SURF type offshore installation project


Erika Captain Says Tight Budgets Overrode Safety

The captain of the tanker Erika, which sank off France's west coast in December causing a huge oil spill, said crews had to work to such tight budgets that safety standards could not always be met. "There are certain things that nobody dares to say, but the job has changed a lot, everything is going too fast, everything is dominated by money," the 36-year-old captain said. The Erika's crew was winched to safety when the vessel split apart and sank in stormy seas on December 12.


BMT Group Created from Merger

The BMT Group, maritime design, engineering and risk management consultancy, announced the merger of three companies, BMT SeaTech, BMT Argoss and the Southampton and Polish businesses of BMT Cordah. The merged entity will retain the name of BMT Argoss. The capabilities of each company are being brought together to offer customers full turn-key solutions. In the Oil and Gas sector, BMT is working with oil majors to provide environmental information


GL Noble Denton Opens Office in Trinidad

Technical service provider for the oil and gas industry GL Noble Denton has opened an office in Port of Spain. With upstream and midstream capabilities across the complete asset lifecycle, GL Noble Denton already provides international oil majors, independent operators and E&C companies in the region with technical design, consulting, assurance and execution services. Trinidad's economy is strongly influenced by the petroleum industry


TEN Wins Shuttle Tanker Contract

Tsakos Energy Navigation Ltd. (TEN) (NYSE: TNP or the “Company”) today announced two 15-year time charters with a national oil major for two DP2 Suezmax shuttle tankers with delivery within 2012. These charters are expected to generate revenues of at least $520m over their corresponding periods. The return on equity anticipated from this project is attractive when compared to other mainstream shipping projects and our overall investment criteria and will make a significant


Sanctions Bite Russian Arctic Oil Shippers

Photo: United Shipbuilding Corporation

Shipping services that support Russia's attempts to extract oil from remote parts of the Arctic will run into difficulties as banks scale back energy financing due to Western sanctions, increasing transport costs for the frontier sector. Sanctions imposed on Russia by the United States and


Vard 3Q: Higher Revenues, Solid Order Book

18.5% increase in 3Q revenue, and 4.5% increase in 9M revenue from same periods in 2013. Vard Holdings Limited (“VARD”, and together with its subsidiaries, the “Group”), designers and shipbuilders of offshore and specialized vessels


OAO Sovcomflot’s 9M/Q3 2014 Results

  OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014.   Nine months 2014 – Financial Highlights (IFRS accounts) USD


Shell Launches Naturelle Stern Tube Fluid

Shell_Naturelle_main_fc web.jpg

Shell has launched its new range of Environmentally Acceptable Lubricants (EALs), including Shell Naturelle S4 Stern Tube Fluid 100.   The Shell Naturelle range of products is designed to enable ships entering U.S. waters to comply with the revised 2013 Vessel General Permit (VGP). 


Saipem in Subsea Deal with Chiyoda, Xodus

Colin Manson, CEO of Xodus Group

Italian oil service group Saipem said on Thursday it had set up a venture with energy consultant Xodus Group and Japanese engineering company Chiyoda to develop business in the subsea sector. Saipem, 43 percent controlled by Italian oil major Eni


Lego Drops Shell Contract, Criticizes Greenpeace

Denmark's Lego has said it would not renew a branding contract with oil major Royal Dutch Shell in the wake of comments from environmental lobby Greenpeace saying the toymaker had fallen in with "bad company". But in a statement issued late on Wednesday


Singapore Minister Yew to Launch SGMF’s Global

Mr Lui Tuck Yew

Mr Lui Tuck Yew, Minister for Transport, Singapore, will conduct SGMF’s Global Launch on Stand No. 33 on Wednesday 15th October 2014 at 10.15am in connection with SIBCON 2014 confirms SGMF’s Brand, Marketing and Membership Manager, John Saunders


Total CEO Killed in Moscow Runway Accident

Christophe de Margerie

Private jet collided with snow plow during takeoff; Total's CEO a defender of Moscow policies. Insiders Boisseau and Pouyanne long seen as potential successors. The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as


Weak Oil Threatens US Export of LNG

Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have already invested billions of dollars in long-term contracts. The 26 percent price slide since June to $85 a barrel exposes cracks in


Total Names Refining Boss to Replace de Margerie

Patrick Pouyanne (Photo: Total)

French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week. Pouyanne, 51, head of refining, had been considered as possible candidate to succeed de Margerie in the past and has a


Nordic Wins with Noble

DP2 IMR Subsea vessel - Mokul Nordic

  Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy, the international energy provider. “At Nordic Maritime


Rosneft Will Continue Arctic Drilling

The Kara-Winter-2014 Ice Expedition. (Photo Courtesy Rosneft)

Russia's biggest oil producer Rosneft will continue drilling in the Arctic Kara Sea on its own after the departure of its partner, U.S. oil major ExxonMobil, due to sanctions, the company's head Igor Sechin said on Friday.  


Clean Marine Wins New Contract

Photo courtesy of Clean Marine

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention for the reduction of sulphur oxides (SOx) demands that sulphur emission levels in Emission Control Areas (ECAs) shall be cut to 0


New Maersk Drillship Secures Contract

Maersk-Venturer Drillship

Maersk Drilling’s third drillship, Maersk Venturer, which was delivered 25 September 2014 from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si in South-Korea, has secured a short term contract with oil major Total. Maersk Venturer will commence a one well program offshore Malaysia


Total CEO: EU Must Fight US Crude Export Law

First major public appearance of new Total head; he challenges European politicians to fight US ban. The new head of French energy major Total challenged Europe to fight Washington over the U.S. oil export ban, in his first public appearance since his predecessor Christophe de Margerie was






 
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