Octanex N.L announces that the farmout agreement made with OMV New Zealand Limited (“OMV NZ”), in relation to the PEP 51906 permit, has received the consent of the New Zealand Minister of Energy under the Crown Minerals Act. As a result, the farmout agreement is now unconditional. OMV NZ entered int
Advances in system design and sensor performance, together with high accuracy GNSS surface positioning, have led to a significant increase in the capability, performance and accuracy of modern ultra-short baseline (USBL) acoustic positioning solutions. This has made it possible for such solutions to
Aker Floating Production reports first quarter revenues of USD 33 million and EBITDA of USD 26 million (unchanged and up 8%, respectively, versus first quarter 2010). Operating profit in the quarter of USD 9 million represents growth of 12% over the same quarter last year. The group made a net loss
Watermaster is a Finnish-made serially produced versatile dredger, that can do suction- and backhoe dredging and even pile driving work. Watermaster can “walk” in and out of water without crane assistance and it moves independently in water as well, minimizing the need of extra machinery and labour
Based on preliminary calculations the size of the discovery is between 12.5 and 56.5 million barrels of recoverable oil equivalent. ”Statoil has had great exploration success in mature areas during the last years,” says Gro Gunleiksrud Haatvedt, Statoil’s head of exploration on the Norwegian contine
BMT Marine & Offshore Surveys which incorporates The Salvage Association and Murray Fenton are delighted to announce that the business and assets of the company have been acquired by Braemar Shipping Services plc, a leading international provider of shipbroking, consultancy, technical, logistics and
Red7Marine’s newly-acquired offshore support vessel DP Reel has sailed into Great Yarmouth port to mark a milestone moment for the rapidly growing company. The £5m ( USD 8.1 Million) investment means the highly versatile vessel will be available to support work for clients in the renewable energy an
The companies have entered into an MOU which will lead to an operational business in the Netherlands by the first of July 2011. A new company will be established under the name “Ulstein IDEA Equipment Solutions b.v.” which combines ULSTEIN’s offshore vessel design, marine equipment packages and cons
On May 6, the Parliament of the Republic of Azerbaijan ratified the new production sharing agreement (PSA) between BP and SOCAR on joint exploration and development of the Shafag-Asiman structure in the Azerbaijan sector of the Caspian Sea. Rashid Javanshir, BP’s Regional President, said: “We are pa
DKSH, the leading provider of Market Expansion Services with a focus on Asia, provides marketing, sales, distribution, and after-sales services to IMS Dredges, the world’s leader in one truck transportable dredge systems. To help solve the persistent flood problem affecting Thailand DKSH introduces
Siem Offshore, an international supply and subsea shipping company, today announced results for the first quarter of 2011. The operating revenue for the first quarter was USD 68.9 million compared to USD 49.8 million for the same period of 2010. The operating margin was USD 21.8 million compared to
Siem Offshore, an international supply and subsea shipping company, today announced results for the first quarter of 2011. The operating revenue for the first quarter was USD 68.9 million compared to USD 49.8 million for the same period of 2010. The operating margin was USD 21.8 million compared to
Demonstrating its commitment to expanding its state of the art U.K. manufacturing presence, GE’s Oil & Gas business has officially opened a new wireline manufacturing and headquarters facility in Farnborough, Hampshire, United Kingdom. The facility brings the GE Oil & Gas—Downhole Technology platfor
This announcement is made by Mermaid Maritime Public Company Limited (“Mermaid”) with respect to its associated company Asia Offshore Drilling Limited (“AOD”). Mermaid refers to the construction of two high specification jack-up rigs by Keppel FELS Limited (“Keppel FELS”) for AOD. Mermaid announces
