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The Offshore Markets: 2016 In Review

Expectations at the start of the year that 2016 would be a tough one for the oil industry, and in particular for offshore, were on the whole fulfilled, says Clarksons Research report. Overall upstream E&P spending globally fell for the second successive year…

Libya’s Bouri Field Loads First Tanker -NOC

TRIPOLI, Feb 12 (Reuters) – A new floating storage and offloading (FSO) platform has loaded a first tanker with oil from Libya’s offshore Bouri field, the National Oil Corporation (NOC) said on Sunday. Made in South Korea, the new Gaza...Show More Summary

SBM Offshore Expects Revenue to Fall for Third Straight Year

Feb 8 (Reuters) – SBM Offshore expects 2017 revenue to fall 15 percent as the world’s top oil production ship leasing company said it sees early signs of stabilisation in the offshore industry, but warned that the recovery was slow.Show More Summary

Offshore Drillers Still Seeking Recovery Enjoyed by Shale

By Bailey Lipschultz (Bloomberg) — While oil drillers in U.S. shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60 a barrel. U.S. offshore operators like Diamond Offshore Drilling Inc. Show More Summary

Diamond Offshore Sees Recovery when Oil 'Well over $60'

Rig contractor Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said on Monday oil prices needed to be "well over $60" to spur a recovery in offshore drilling. The company's shares reversed course and were down 2.3 percent at $16.67…

Norway’s Farstad, Solstad, and Deep Sea Supply to Create Offshore Supply Vessel Giant

By Gwladys Fouche and Jonathan Saul OSLO/LONDON, Feb 6 (Reuters) – The pace of consolidation in the crisis-hit shipping industry accelerated on Monday after three of Norway’s biggest offshore oil industry service vessel (OSV) operators announced plans to merge to create one of the biggest fleets in the sector. Show More Summary

Norwegian OSV Operators in Blockbuster Merger

Debt-laden Farstad Shipping gets lifeline; billionaires Fredriksen and Roekke join forces. Hit by the oil industry recession, Norwegian offshore service vessel (OSV) operators Farstad Shipping, Deep Sea Supply and Solstad Offshore announced plans to merge on Monday to counter the downturn.

Shell Shows How to Remove Obstacles to North Sea Oil Deals

(Bloomberg) — Royal Dutch Shell Plc’s $3.8 billion sale of North Sea oil and gas fields creates a model for further transactions in a region where the question of who pays to remove decades-old offshore platforms has been an obstacle for other deals. Show More Summary

Bibby Topaz Charter Extension

Bibby Offshore, provider of subsea installation and services to the offshore oil and gas industry, said it has secured a long-term extension to the charter of its dive-support vessel (DSV) Bibby Topaz, owned by Volstad Maritime. The terms and…

Lloyd’s Register Sets Its Sights Subsea

Eying a subsea sector rebound, Lloyd’s Register (LR) aims to bring its expertise to underwater operations in offshore oil and gas as well as wind farm power generation and submarine cable markets. The provider of integrity, compliance and specialist…

Lebanon Restarts Offshore Gas Efforts After Delays

After a series of political and logistical setbacks, Lebanon relaunched its first oil and gas exploration and production licensing round this week in hopes of joining the Eastern Mediterranean's energy push.

McDermott bags Middle East pipelay contract

McDermott International, Inc. (NYSE:MDR) announced today it was awarded an offshore pipelay contract in the Middle East. The pipelay contract, sizeable in value, includes the engineering, procurement and installation of two oil pipelines offshore.

Keppel Shuts Down Three Yards in Singapore

Keppel Corp, the world's biggest oil rig builder, is still hard hit by the downturn in the oil industry and will now shut down three yards in its homeland. Singapore-based offshore company Keppel reduced its direct work force by about one third.

Lebanon committed to oil, gas transparency, minister

Transparency is a top priority for a Lebanese government looking to bring bidders back to its offshore oil and gas reserves, the energy minister said. Lebanon this week filed a request to join the Extractive Industries Transparency Initiative, a body that aims to cast light on how countries manage their oil, gas and mineral resources. […]

Lebanon Re-opens First Oil & Gas Licensing Bidding Round

By Tsvetana Paraskova After passing key legislation to advance its stalled oil and gas licensing tenders, Lebanon opened on Thursday five offshore blocks up for bidding, re-launching the first licensing round after three years of political impasse. The evaluation of the bids and the signature of exploration and production agreements (EPAs) will follow as of […]

InterDam Debuts fire, blast resistant panel for Offshore

InterDam, supplier of fire and blast doors, walls and windows to the offshore Oil & Gas and Renewable sectors, is in the final stages of testing a new pre-fabricated fire and blast resistant panel. Called the Generation V, this new product comes…

Trump Can Easily Undo Obama’s Arctic Drilling Bans

Obama’s “permanent” bans on offshore oil and gas drilling in Alaska are actually “indefinite” and could end as soon as January 20. The incoming Trump administration has the authority to revoke environmental protections of Alaska’s.....

Watch: 2.5 Hours of a Ship in Heavy Seas

A little background here. Bigwavemaster1 works on a Emergency Response & Rescue Vessel providing support to offshore oil platforms in the North Sea – no matter how bad the weather gets. To his surprise his heavy seas videos have attracted quite a bit of interest on Youtube. Show More Summary

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