As part of the agreement, Repsol will help finance work in licenses that the two companies have applied for in the 20th licensing round in the Barents Sea. The agreement also includes a comprehensive cooperation on exploration in the Norwegian Sea and the Barents Sea. Repsol will be an active partner for Det norske in the area. Det norske CEO Erik Haugane commented, "This agreement will provide us with more clout to carry out our plans in the far north. It is an important step to strengthen our position as the "number two" company on the Norwegian shelf, and it is part of the strategy that the board of directors has set out for the company. Agreements that we enter into with the industry, educational institutions and the science community will also strengthen the industry in the north and help it exploit the opportunities that the oil industry provides." Det norske's currrent activities are on the Norwegian Continental Shelf. The company sold its interest in the Goliat field in the Barents Sea last year.
Friday, March 6, 2009
Det norske heads north with Repsol
Trondheim, Norway: Det norse oljeselskap has entered into a letter of intent with Spanish company Repsol YPF SA.
As part of the agreement, Repsol will help finance work in licenses that the two companies have applied for in the 20th licensing round in the Barents Sea. The agreement also includes a comprehensive cooperation on exploration in the Norwegian Sea and the Barents Sea. Repsol will be an active partner for Det norske in the area. Det norske CEO Erik Haugane commented, "This agreement will provide us with more clout to carry out our plans in the far north. It is an important step to strengthen our position as the "number two" company on the Norwegian shelf, and it is part of the strategy that the board of directors has set out for the company. Agreements that we enter into with the industry, educational institutions and the science community will also strengthen the industry in the north and help it exploit the opportunities that the oil industry provides." Det norske's currrent activities are on the Norwegian Continental Shelf. The company sold its interest in the Goliat field in the Barents Sea last year.Read More
As part of the agreement, Repsol will help finance work in licenses that the two companies have applied for in the 20th licensing round in the Barents Sea. The agreement also includes a comprehensive cooperation on exploration in the Norwegian Sea and the Barents Sea. Repsol will be an active partner for Det norske in the area. Det norske CEO Erik Haugane commented, "This agreement will provide us with more clout to carry out our plans in the far north. It is an important step to strengthen our position as the "number two" company on the Norwegian shelf, and it is part of the strategy that the board of directors has set out for the company. Agreements that we enter into with the industry, educational institutions and the science community will also strengthen the industry in the north and help it exploit the opportunities that the oil industry provides." Det norske's currrent activities are on the Norwegian Continental Shelf. The company sold its interest in the Goliat field in the Barents Sea last year.
Subsea 7 wins two major contracts
Subsea 7, UK has been awarded a US$ 17 million contract from StatoilHydro for engineering and installation of the Snorre B Riser Replacement project in the Norwegian sector of the North Sea.
Snorre is an oil field in the Tampen area in the northern part of the North Sea on the Norwegian Continental shelf. The sea depth in the area is 300-350 metres. Snorre B is located in the northern part of the field and is a semi-submersible integrated drilling, processing and accommodation steel facility. The scope of work involves engineering, subsea preparations and subsea disconnection and recovery of three off damaged flexible risers, the installation of three off new risers on the Snorre B platform and subsea tie-in of the risers to templates C and D. The offshore operations are due to take place in three phases from April to September 2009. The main offshore operations, including riser recovery, installation and tie-in operations will be performed by Subsea 7's specialised flexible pipelay and construction vessel, the ‘Seven Seas’. In other news, Subsea 7 has won another major contract, worth US$200 million from Brazil’s Petrobras.Read More
Snorre is an oil field in the Tampen area in the northern part of the North Sea on the Norwegian Continental shelf. The sea depth in the area is 300-350 metres. Snorre B is located in the northern part of the field and is a semi-submersible integrated drilling, processing and accommodation steel facility. The scope of work involves engineering, subsea preparations and subsea disconnection and recovery of three off damaged flexible risers, the installation of three off new risers on the Snorre B platform and subsea tie-in of the risers to templates C and D. The offshore operations are due to take place in three phases from April to September 2009. The main offshore operations, including riser recovery, installation and tie-in operations will be performed by Subsea 7's specialised flexible pipelay and construction vessel, the ‘Seven Seas’. In other news, Subsea 7 has won another major contract, worth US$200 million from Brazil’s Petrobras.
Thursday, March 5, 2009
Japanese yard merger postponed
Tokyo: JFE Holdings Inc. and IHI Corp. will postpone a merger of shipbuilding operations until after autumn.
The companies have decided to delay the merger, which was to take place this month, because of a decline in demand for ships. In mid-January 2008 it was announced that IHI Corp, Japan's third-biggest heavy-machinery maker, was in talks with JFE Holdings, the nation's second-biggest steelmaker, to create the biggest Japanese shipbuilder to compete against Asian rivals. The two units could be merged as early as this year creating a company with sales of ¥345bn. IHI Marine United would be merged into Universal Shipbuilding, which JFE is currently seeking to raise its stake in from 50% to 80%, buying out part of Hitachi Zosen's 50% share.Read More
The companies have decided to delay the merger, which was to take place this month, because of a decline in demand for ships. In mid-January 2008 it was announced that IHI Corp, Japan's third-biggest heavy-machinery maker, was in talks with JFE Holdings, the nation's second-biggest steelmaker, to create the biggest Japanese shipbuilder to compete against Asian rivals. The two units could be merged as early as this year creating a company with sales of ¥345bn. IHI Marine United would be merged into Universal Shipbuilding, which JFE is currently seeking to raise its stake in from 50% to 80%, buying out part of Hitachi Zosen's 50% share.
Petrobras to invest $ 2.4 bn in biofuels
Rio De Janeiro: Petrobras Biocombustivel, Brazilian state-owned energy giant Petrobras' biodiesel subsidiary, plans to invest 2.4 billion U.S. dollars in biodiesel and ethanol production for the 2009-2013 period.
80 percent of the 2.4 billion dollars will be invested in ethanol, while the other 20 percent will be earmarked to biodiesel. A total of 91 percent will be made in Brazil. The figures represent an 87 percent increase compared with the amount in the company’s 2008-2012 Business Plan, and are part of Petrobras' 2.8 billion dollars investment in the biofuel sector. The remaining 400 million dollars will go towards infrastructure such as ethanol pipelines. An extra 530 million dollars will be invested in biofuel research, which may include the purchase of shares or even the total capital of research companies. "It is possible to acquire technology companies both in Brazil and abroad," said Alan Kardec, the company's president, "We may buy them to assure the technological acceleration of our projects." In the Business Plan, Petrobras said it intends to reach a domestic production of 640 million liters of biodiesel by 2013. To achieve the goal, the company plans to build a new plant in northeastern Brazil, and is considering acquiring two others. The company is also expected to duplicate its Candeias plant in the state of Bahia, and adapt the experimental plants in Guamare, in the state of Rio Grande do Norte, for commercial production.Read More
80 percent of the 2.4 billion dollars will be invested in ethanol, while the other 20 percent will be earmarked to biodiesel. A total of 91 percent will be made in Brazil. The figures represent an 87 percent increase compared with the amount in the company’s 2008-2012 Business Plan, and are part of Petrobras' 2.8 billion dollars investment in the biofuel sector. The remaining 400 million dollars will go towards infrastructure such as ethanol pipelines. An extra 530 million dollars will be invested in biofuel research, which may include the purchase of shares or even the total capital of research companies. "It is possible to acquire technology companies both in Brazil and abroad," said Alan Kardec, the company's president, "We may buy them to assure the technological acceleration of our projects." In the Business Plan, Petrobras said it intends to reach a domestic production of 640 million liters of biodiesel by 2013. To achieve the goal, the company plans to build a new plant in northeastern Brazil, and is considering acquiring two others. The company is also expected to duplicate its Candeias plant in the state of Bahia, and adapt the experimental plants in Guamare, in the state of Rio Grande do Norte, for commercial production.
Offshore Unlimited secures charter deal
Australia: Tasmanian Company, Offshore Unlimited recently secured a charter in the Bass Strait region, with their new vessel ‘Unlimited’ for subsea survey work.
‘Unlimited’ is a 24-metre aluminium catamaran designed by Incat Crowther and built by Hobart’s Richardson Devine Marine. Features of the new vessel include, 32-tonne deck load, 25,000 litres of fuel, 3.5-tonne deck crane, 15-tonne bollard pull with remote release towing hook, transfer capacity for up to 38 persons, overnight accommodation for twelve, latest Inmarsat Fleet Broadband and Iridium Openport communications, endurance in a chase / patrol boat role of up to 40 days without refuelling and storing, and USL 2A survey.Read More
‘Unlimited’ is a 24-metre aluminium catamaran designed by Incat Crowther and built by Hobart’s Richardson Devine Marine. Features of the new vessel include, 32-tonne deck load, 25,000 litres of fuel, 3.5-tonne deck crane, 15-tonne bollard pull with remote release towing hook, transfer capacity for up to 38 persons, overnight accommodation for twelve, latest Inmarsat Fleet Broadband and Iridium Openport communications, endurance in a chase / patrol boat role of up to 40 days without refuelling and storing, and USL 2A survey.
Containerships deal opens up Mediterranean market
Baltic container shipping line Containerships has extended its coverage into new areas.
The Finnish company has acquired 100% of the shares in Turkish shipping line Contaz Maritime and Transport, opening up the Mediterranean market and routes into southern Russia. The transaction was fully financed by Containerships' equity. Sigurjón Markusson, chief executive officer of Containerships, says: "We have long considered expansion of our operating territory into the Mediterranean. The Contaz operations are not only profitable but in fact a mirror image of the services Containerships operate in the Baltic and North Sea. "The new company can now offer unique door-to-door services between the Baltic, North and Mediterranean seas. This is a trading area of 500 million people, with growing economies and many opportunities." Charles Patton, managing director of Containerships UK, says the acquisition will mean "a considerable increase in volumes for the UK arm of the company, good news in the current economic climate".
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Inauguration of upgraded Davao port
The Philippines: The newly upgraded facilities of Davao Port will allow the port to handle more cargo vessels from South East Asia, the Middle East and the USA.
The US$8.6 million upgrade was recently completed and the inauguration, held last Friday was attended by President Gloria Arroyo. The port’s 42.35-metre by 18-metre quay was upgraded and the facilities were expanded to include a 3,180 square metre reinforced concrete wharf. Also known as the Sasa Wharf, the Port of Davao is ranked fourth in the Philippines in terms of container cargo traffic and container volume performance. The expansion project was part of a multi-million dollar infrastructure program initiated by President Arroyo as part of her plan for the country’s overall development strategy.Read More
The US$8.6 million upgrade was recently completed and the inauguration, held last Friday was attended by President Gloria Arroyo. The port’s 42.35-metre by 18-metre quay was upgraded and the facilities were expanded to include a 3,180 square metre reinforced concrete wharf. Also known as the Sasa Wharf, the Port of Davao is ranked fourth in the Philippines in terms of container cargo traffic and container volume performance. The expansion project was part of a multi-million dollar infrastructure program initiated by President Arroyo as part of her plan for the country’s overall development strategy.
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