Norway’s Spring Energy has agreed a new loan to finance its forward exploration plans. The NOK 400 m (US $78 m) facility secured through Skandinaviska Enskilda Banken AB will be used to assist the company in its exploration and appraisal work on the NCS between now and 2010, Spring indicated. Also t
Awilco Offshore has received a Letter of Intent for the use of its WilForce jack-up drilling rig for operations offshore Libya. The US $36.5 million deal would see the rig drilling two firm wells with the option for one further well. The firm period of the contract is 180 days. Operations are schedu
The Interim Report for Q2, 2008, will be presented and questions answered. Attending: Hans Norén, President Göran Hermansson, Financial Manager Phone: +44 (0)20 7162 0025 or +46 (0)8 5052 0110 Conference title: Concordia Maritime Recorded conference is available until 20 August 2008. Phone +44 (0)20
Driving rain and a bracing Force 5 deterred many competitors from the race track on the final day of Skandia Cowes Week but the 14 remaining unclaimed trophies found worthy winners as class warfare continued to the bitter end. Conditions in the Solent were positively wintry as gusts reached 30 knots
RACING The Finns and Ynglings are out for their second day but on a different race course, further out to sea. With tide playing such a big part of yesterday’s race and light winds forecast again, those less used to the conditions and race course areas will be facing another steep learning curve. Ex
Staying in the chocolates in the overall standings is all about keeping your nose clean and putting in a good top five result. Today was clear proof of this on both courses. In the 49er class, posting a 4th, 3rd and a 5th was sufficient to put the British pair Morrison and Rhodes into the […]
SWEEPING THE COURSE Several hundred local boats littered the race course area right out to the horizon, (which is a surprisingly long way this morning thanks to the overnight rain), as the flotilla cleared up the infamous weed that had started to stray onto the course areas late in the afternoon yes
THE conflict erupting in the Caucasus has set alarm bells ringing for many reasons, not least Georgia’s pivotal role in thesupply of Central Asian oil to the West. While it has no significant oil or gas reserves of its own, Georgia is a key transit point for oil from the Caspian region destined for
New Vessels – August 11, 2008 Guyana’s Ministry of Agriculture has a new dredging pontoon (photo: GINA). The Starbroek News reports that a US$40 million pontoon which will be used to dredge blocked outfall channels along the coast has been handed over to the Agriculture Ministry in Guyana. According
Heavy transport group Dockwise has landed two new contracts including one to transport one of the world’s biggest new rigs next year. Noble Drilling’s newbuild Dave Beard, a sixth-generation semi-submersible, will be carried by Dockwise in 2009, while other work including movement of floating docks
BG Norway has had success drilling the Jordbaer (Strawberry) prospect offshore Norway which has tested a “significant” discovery. Partner Revus Energy said the 34/3-1S operated by BG Norge in the PL373 S licence area northeast of the Snorre field tested with an average rate of 7,500 b/d and, accordi
Rocksource has joined up with a five-strong consortium giving it access to rig capacity for drilling exploration wells on the Norwegian Continental Shelf. Rocksource and the other companies have struck a deal to use the semisubmersible drilling rig Borgland Dolphin. The contract is worth around US $
NEW YORK – To plan a long and challenging journey, would you reject Mapquest and GPS and only consult an atlas from the 1970s? Unlikely. But to pinpoint America’s offshore oil deposits, congressional Democrats, starting with Sen. Barack Obama, love disco-era maps. Despite his conditional, latter-day
SAN JUAN, Puerto Rico, August 6, 2008 – Horizon Lines, Inc., (NYSE:HRZ), the nation’s leading domestic ocean shipping and integrated logistics company, yesterday celebrated 50 years of service in Puerto Rico at an event for customers, vendors, labor leaders, government officials and staff held at th
