Ocean Power Technologies, Inc., a leading wave energy technology company, today announced the appointment of Timothy Stiven as Managing Director of Ocean Power Technologies Limited, the Company’s UK-based wholly-owned subsidiary, effective March 1, 2012. He succeeds Angus Norman, who is stepping dow
Dragon Oil plc, a Dubai-based international oil and gas exploration, development and production company, announces the successful completion and initial testing of the Dzheitune (Lam) 28/166 development well, off the coast of Turmenistan. The well, located in the Caspian sea was completed with a sin
MEO Australia Limited announces that its wholly owned subsidiary Rayong Offshore Exploration Limited has executed a binding farm-in agreement with Pearl Oil Offshore Limited to acquire a 50% Participating Interest in the Block G2/48 Concession in the Gulf of Thailand. G2/48 is located in shallow wat
The U.S. Navy has exercised contract options funding the construction of the eighth and ninth Joint High Speed Vessel (JHSV), as part of a ten-ship program potentially worth over US$1.6 billion. The construction contract for these vessels is valued at approximately US$321.7 million. Austal USA’s Pre
Technip was awarded by Petrobras a highly technological lump sum contract for the Guara & Lula Nordeste pre-salt field development located in the Santos Basin, offshore Brazil, at a water depth of 2,250 meters. The contract covers the manufacture of 24 kilometers of 6’’ gas injection flexible lines
Technip awarded contract by Petrobras to provide high-tech solutions for the Guara & Lula Nordeste pre-salt fields in Brazil. Technip was awarded by Petrobras a highly technological lump sum contract for the Guara & Lula Nordeste pre-salt field development located in the Santos Basin, offshore Brazi
Star Bulk Carriers Corp., on Friday, announced that the Company has entered into an agreement to sell the Star Ypsilon, a 150,940 dwt Capesize vessel, built 1991, to a third party for a contracted sale price of $9.12 million. The Company plans to deliver the vessel to the buyers within March 2012. F
Du reports that its undersea cable between Dubai and Oman has been repaired. The company official says: “We are happy to report that there was no impact on speed and internet browsing experience except for the first hour after the cable cut, prior to diverting traffic from the affected cables. We al
Fugro Singapore has been awarded a major offshore geotechnical investigation contract by Reliance Industries Ltd on the East Coast of India. Fugro will perform geotechnical investigations, laboratory testing and foundation design studies to allow detailed design of subsea infrastructure for the Dhir
Diana Shipping Inc., on Friday announced that it has entered into a time charter contract with EDF Trading Ltd., London, for one of its Panamax dry bulk carriers, the m/v “Coronis”, at a gross charter rate of US$10,600 per day, minus a 5% commission paid to third parties, for a period of about twent
Fugro Singapore has been awarded a major offshore geotechnical investigation contract by Reliance Industries Ltd on the East Coast of India. Fugro will carry out geotechnical investigations, laboratory testing and foundation design studies to allow detailed design of subsea infrastructure for the Dh
Petrobras on Friday announced a discovery of light oil in ultra-deepwaters of the Santos Basin pre-salt reservoirs, block BM-S-9. The new well, 3-BRSA-1023 (3-SPS-85), named Carioca Sela, is located in the assessment area of 1-SPS-50 (Carioca) field, some 4.5 Km from the discovery well. In this new
On Friday AMSC had its first arbitration hearing with the Beijing Arbitration Commission. AMSC is seeking $70 million for past product shipments and is seeking enforcement of its contracts with Sinovel Wind Group Co., Ltd (Sinovel), which are valued at approximately $700 million. In addition to arbi
Thailand’s PTTEP has entered into the race with Shell over Cove Energy’s shares. PTTEP’s President and CEO Anon Sirisaengtaksin revealed that the company would be willing to pay 220 pence for each Cove’s issued or to be issued share. The proposed offer values Cove at approximately USD 1.77 billion w
