Italian giant Eni said on Thursday it has performed the production test at the Zohr 2X well, the first appraisal well of the Zohr gas field off Egypt, discovered in August last year.
Island Offshore, a Norwegian provider of offshore vessels for the oil and gas industry, has decided to lay up two platform supply vessels with immediate effect. The two vessels set for layup are the Island Dragon and Island Duchess, built in 2014 and 2013, respectively. The Island Dragon has been on
By Amanda Cooper LONDON (Reuters) – Oil prices broke above $40 a barrel on Wednesday, driven by anticipation that the world’s largest exporters may agree as soon as this month to freeze output, which could accelerate a decline in the largest global build in unwanted crude in years. Producers in and
Norwegian ship technology company, Havyard Group, and an unnamed buyer have agreed to cancel a shipbuilding contract due to a challenging offshore market. Havyard signed a contract to design and construct a subsea vessel with an international shipping company in July 2015. The contract was valued at
Industry body Scottish Renewables has hailed the news of the first power production to the Shetland grid from the Shetland Tidal Array project. Responding to the announcement, Lindsay Roberts, Senior Policy Manager at Scottish Renewables, said: “Nova Innovation’s success in Shetland shows not only t
Novatek, the operator of Yamal LNG project expects to have the external financing secured in the next two to three months, company’s CEO Leonid Mikhelson was cited as saying by Interfax.
Oilfield services company Halliburton has decided to swing its jobs axe in Norway, a decision that will affect offshore and onshore positions. Offshore.no, a Norwegian language website covering the country’s offshore oil and gas industry, reported on Wednesday that between 250 and 260 employees in N
A joint industry project (JIP) to standardize subsea processing systems has been kick-started by DNV GL with industry partners Petrobras, Shell, Statoil and Woodside. According to DNV GL, subsea development projects have been under substantial pressure due to cost inflation and the low oil price, pr
Omani Port of Salalah and Iranian Shahid Rajaee Port and Chabahar Port have inked a Memorandum of Understanding that aims to facilitate growth in shipping, trade and commerce between the two countries. Under the MoU, Port of Salah, the biggest port in Oman, is to support modernization of Iranian por
North Korea has been hit with a new wave of sanctions affecting its maritime industry as its neighbor South Korea announced a total ban on vessels that stopped at the North Korean ports over past 180 days amid Seoul’s measures aimed at strengthening maritime-related controls at the country’s ports.
Norwegian oil company North Energy and the fully owned subsidiary North E&P signed on Tuesday an agreement to renew their exploration financing facility for the period 2016-17. The group of banks providing the facility comprises of DNB and SEB, with the first of these banks acting as coordinator and
Belgian shipping group Exmar NV and Pacific Exploration and Production, formerly known as Pacific Rubiales, have agreed to terminate an agreement for the provision of what was claimed to be the world’s first floating liquefaction regasification & storage unit (FLRSU). The tolling agreement, original
Some 1,200 kilograms of cocaine were seized and seven people were arrested aboard a Ro-Ro cargo vessel Oceanic 1 in the morning hours of March 5 while the vessel was in the Caribbean Sea off Aruba, according to the Dutch coast guard. The Dutch officials, working on the basis of information provided
The Capesize bulk carrier New Katerina has been refloated and towed away from its grounding site in the Suez Canal where it spent almost two weeks. The Panamanian-flagged ship has now been anchored to Al Ballah Corridor, GAC confirmed to World Maritime News. As a result, Suez Canal convoys are about
