Semco Maritime's Offshore Workforce for Aker BP's Norwegian Oil Fields
labor to Aker BP under a framework agreement for the provision of offshore personnel since 2016, and the new contract entails a continuation of the cooperation in 2022-2027 with the option of extending by 12 + 12 months," Semco Maritime said.The contract covers the provision of personnel for the oil fields Valhall, Ula, Ivar Aasen, Alvheim, and Skarv.
Corpus Christi Gearing Up to Handle US Shale Export Boom
2 million barrels of oil a day, but the largest tankers currently only move in and out of a Louisiana offshore port because others are not deep enough.Corpus Christi exports 800,000 barrels per day (bpd) of crude, Strawbridge said. It sits on the U.S. Gulf Coast near two of the nation's largest oilfields, the Permian Basin and Eagle Ford shale, which together produce about 4.7 million bpd, nearly half of the total U.S. production.The channel's existing 47-foot-depth restricts it from fully loading crude tankers that carry up to 1 million barrels. Smaller vessels must finish loading the tankers
Oil Workers Reject Petrobras Offer, Strike Possible
for new Chief Executive Officer Pedro Parente, who has pledged to cut costs. Petrobras said in a statement that the union's decision has had no effect on operations Thursday, though the unions said some workers in Rio de Janeiro-state blocked a heliport used to access Petrobras' offshore oil fields in the Campos basin. Petrobras is struggling to maintain minimum investments as it tries to manage $125 billion in debt, the most in the oil industry. Last week the company offered a 4.97 percent increase in salaries, and said it planned to cut overtime payments and regular work shifts
Colombia's Largest Oil Union to Vote on Possible Strike
major non-oil related assets in an effort to refocus its operations after the slump in crude prices. Ecopetrol's net profit tumbled nearly 48 percent in the second quarter, the company said last month, because of a fall in sales and output. Privatizations, the sale of subsidiaries and oil fields and delays in modernization work at the Barrancabermeja refinery were the reasons for a potential strike, union president Cesar Loza told journalists. The strike vote would take place after a nationwide plebiscite on Oct. 2 the Colombian government's peace deal with Marxist FARC rebels
Floating Production's Future: The 6 Things You Need to Know Now
March 2014 was trading around $105 per barrel. By March 2015 the price had fallen to around $55 per barrel – and in late March 2016 Brent was trading around $40 per barrel. The nadir was on 20 January 2016 when spot Brent closed at $26 – a level far below the breakeven on many oil fields. As a result of the oil price collapse, daily announcements of lower capital spending have been common over the past six to 12 months – from majors like ExxonMobil to smaller upstream players like Premier, Cobalt, others. ExxonMobil, for example, in March said it will budget $23.2
Petrobras Sees Layoff Plan Saving up to $9.2 Bln
is set to slash its five-year investment plan by about 20 percent to about $80 billion in the 2016-2020 period, sources said a month ago. Petrobras reported a fourth-quarter loss of 36.9 billion reais ($10.2 billion), its biggest quarterly loss ever, after booking large writedowns for oil fields and other assets as oil prices slumped and refinery projects faltered. A year earlier, writedowns also caused hefty losses, although they were largely related to the corruption scandal that has roiled the company and fueled calls for the impeachment of Brazilian President Dilma Rousseff
Delta "T" Systems Names Mooney as Mechanical Engineer
and load. Additionally, he will assist in constructing and testing prototypes in preparation for production. Mooney brings 11 years of 3D modeling experience to his new position. Mooney previously worked for Waste Water Design where he drafted, built and installed filtration systems for oil fields. Mooney became interested in engineering during high school where he credits instructor Jim Zachariah for much of his success. He holds an A.S. in drafting and design from Indian River State College and will graduate from Florida Atlantic University with a B.S. in mechanical engineering this
OMV May Slow Investments with Management Shakeup
the group in mid-2015 - nearly two years ahead of schedule - as part of a management shakeup that will also see OMV's gas business subsumed into a new division. Under Roiss, OMV focused on exploration projects rather than refining and marketing, and splashed out $2.65 billion last year on North Sea oil fields owned by Norway's Statoil. OMV has said it aimed to increase production to 400,000 barrels of oil equivalent (boe) per day by 2016 from 288,000 boe/d last year and wants to invest around 3.9 billion euros ($4.97 billion) a year, 80 percent on upstream activities. "One must first bring
Exxon CEO: Lifting Crude Export Ban Would Create US Jobs
gas, or LNG, which are subject to lengthy regulatory reviews. Dozens of companies are lining up to export LNG and a superlight type of crude oil known as condensate as U.S. output of oil and gas has surged to a 25-year high, thanks to advances in hydraulic fracturing and horizontal drilling of tight oil fields. "In the current debates about LNG and crude oil exports, economists and leaders from across the political spectrum, from all sides, agree that free trade would lead to increased investment, more jobs and, importantly, increased production," Tillerson said. "Allowing the marketplace
MARAD Shipbuilding Loan Guarantee
Shipbuilding of Panama City, FL, to provide a perfect example of this principle at work. The Bravante IX is the fifth and final platform supply vessel ordered from Eastern Shipbuilding by Boldini S.A, a Brazilian company. These U.S.-manufactured vessels will provide service in deepwater oil fields off the coast of South America and were made possible in part by a $241 million Department of Transportation Title XI loan guarantee. What’s more, two MARAD Small Shipyard grants, totaling $3.4 million awarded to Eastern Shipbuilding, allowed for upgrades to their facilities, making the company
Chevron to Cut 225 North Sea Jobs
following a review of its business, the company said on Wednesday. The jobs reduction will include contractors, employees and expatriates, it said in a statement to Reuters. Chevron said it will continue to focus on its flagship projects in the North Sea, including the Rosebank and Enochdu oil fields and the Alder oil and gas field. "Chevron Upstream Europe (CUE) is reorganizing its business unit in Aberdeen... As a result of the review, CUE expects reductions of approximately 225 positions," it said. (Reporting by Ron Bousso; editing by Keiron Henderson
Offshore Floating Production Market Update
with Dubai Drydocks in 2006. FPSOcean could not obtain a field contract, ran out of money and could not find a buyer for the unit – and in February 2009 filed for bankruptcy protection. Malaysia-based TH Heavy Eng. acquired the unit in October 2011 for $82.5m for use on marginal oilfields. Delivery of the 68 production floaters now on order is spread over the next five years. The units with delivery furthest out are the three final FPSOs in the eight serial hulls on order in Brazil, a TLP being designed for use in the GOM and an FLNG for use in Malaysia. These five
Oil Majors Cut Staff in Iraq on Violence Fears
Some oil companies are pulling foreign staff from Iraq, fearing Sunni militants from the north could strike at major oilfields concentrated in the Shi'ite south despite moves by the Baghdad government to tighten security. Iraqi officials say the southern regions that produce some 90 percent of the country's oil are completely safe from the Islamic State of Iraq and the Levant (ISIL), which has seized much of the north in a week as Baghdad's forces there collapsed. The government says 100,000 police dedicated to protecting oil facilities are on high alert and well armed. But oil firms are
Greenpeace Targets Russian Tanker at Rotterdam Port
by the desire to make an impression on the general public without thinking about the consequences”. Currently the tanker Mikhail Ulyanov is safely moored at the terminal. The Tanker Mikhail Ulyanov is an Arctic shuttle tanker was designed to transport oil by sea from Russian offshore oil fields and built in Russia. The ship was built in accordance with the Rules of Dual Registry of the Russian Registry of Shipping and Lloyd’s Register. “Sovcomflot’s fleet is routinely surveyed by Lloyd’s Register (LR) and other members of the International Association of Classificatio
Intertek Invests in O&G Lab in Abu Dhabi
East operation by transferring key skills from its international network of experts.Raymond Pirie, Vice President of Intertek’s global Exploration and Production business line, said: “Fluid and rock characterization provides valuable data associated with the development of new and existing oil fields. We focus on gaining a deeper understanding of reservoirs to assist our customers in enhancing and improving oil and gas recovery processes. The new facility in Abu Dhabi will allow us to deliver services locally and minimize the need to transport samples out of country. Intertek has already
