Helix Energy Solutions Group, Inc. reported a net loss of $49.8 million, or $(0.48) per diluted share, for the fourth quarter of 2010 compared with a net loss of $55.7 million, or $(0.53) per diluted share, for the same period in 2009, and net income of $26.2 million, or $0.25 per diluted share, in
Wood Group’s J P Kenny has been awarded a contract to perform detailed design for Amberjack Pipeline Company LLC’s Jack/St. Malo deepwater oil export pipeline in the Gulf of Mexico. Amberjack Pipeline Company LLC is a joint venture between Chevron Pipe Line Company and Shell Pipeline Company LP. Che
The Manifa Drilling Team set a new record in December when it finished drilling the longest well in Saudi Arabia to a total depth of 32,136 ft (± 9.8 km) and completed a horizontal power water injector across the Lower Ratawi reservoir. A Precision Drilling rig did the work on the Manifa well, excee
Two wells from the platform # 660 have been commissioned recently after completion of drilling works. The daily production of the wells # 652 and # 653 drilled to Girmaki Suite makes 6 tons of oil. The wells are drilled by Oil Rocks Offshore Drilling Works Office of SOCAR Complex Drilling Works Trus
Lundin Petroleum AB (announces that drilling of exploration well 25/10-11 on the Earb South prospect has commenced. The well is located in licence PL505 in the Norwegian North Sea. The Earb South prospect is located 15 km west of the Balder Field and 35km south of the Heimdal facilities. The well wi
The world market for subsea hardware is set for strong growth over the forecast period to 2015, increasing by 23% compared to 2006-2010. Douglas-Westwood projections for global Capex for the period total $139 billion. Fields are being developed in deeper waters, from increasingly-remote locations an
The Havyard 858 DSV, Seven Havila, that has been under construction at Havyard is today delivered from the yard to a subsidiary of Havila Shipping and then sold to the joint venture company Acergy Havila Limited which is 50% owned by a subsidiary of Havila Shipping and 50% by a subsidiary of Subsea
By joining the second drilling rig to the south Pars gas field region, drilling operations started in the second position at the South Pars gas field phases 17 and 18. According to a report by Fars News Agency, initial production from the phases 17 and 18 will be started before the end of next Irani
Sembcorp Marine achieved another year of record performance with net profit increased by 23% to a high of $860 million in 2010. Earnings per share rose by 22% to 41.55 cents. Return on equity was 38.4%. Group turnover at $4,555 million was 20% lower as compared with $5,725 million in 2009. The lower
Subsea 7 S.A. (formerly Acergy S.A.) announced results for the fourth quarter and fiscal year 2010. The combination between Acergy S.A. and Subsea 7 Inc. completed on January 7, 2011. Upon completion, Acergy S.A. was renamed Subsea 7 S.A. Jean Cahuzac, Chief Executive Officer, said: “Both Acergy and
Maersk Oil made a profit for 2010 of USD 1.7 billion compared to a profit of USD 1.2 billion in 2009. The main reason for the improved result was a 29% increase in the average oil price. The oil production declined, but “we are making significant investments to replace our oil reserves,” says Nils [
Reliance Industries announced a multi block partnership with BP. As a result, Niko can acquire up to a 30% increase from current working percentages in all or any one of its stakes in D6, NEC 25 and D4. Niko will be reviewing this opportunity over the coming weeks. The new relationship with the addi
APM Terminals operates a global network of 50 con¬tainer terminals and 120 inland facilities in 64 countries. During 2010, APM Terminals continued to focus on de¬velopment in emerging markets and portfolio manage¬ment to improve performance. The integration of inland activities into APM Terminals wa
AGR Field Operations has appointed Marc Chable as Vice President for Projects and Facilities Engineering. Marc will be responsible for driving the expansion of the Engineering and Project Management business lines now integrated and renamed as Projects and Facilities Engineering. His team will conti
