Daily Archives: January 30, 2017

Sembcorp Marine gets China’s nod to sell Cosco Shipyard shares

By Offshore Energy Today Sembcorp Marine has obtained approvals from the Chinese authorities to sell its stake in Cosco Shipyard Group. To remind, the Singapore-based rig builder in November 2016 said it would sell its shares in Cosco Shipyard Group for $220 million to China Ocean Shipping (COSCO). In an announcement on Monday, January 30,…

New offshore driller takes two jack-up rigs from Hercules

By Offshore Energy Today.. Norwegian offshore drilling contractor Borr Drilling, formerly known as Magni Drilling, has taken delivery of two jack-up drilling rigs from the bankrupt drilling contractor, Hercules Offshore. Borr announced the delivery of two rigs last Tuesday, January 24. The jack-up rigs were renamed Frigg, formerly Hercules Resilience, and the Ran, formerly Hercules…

AG&P signs import terminal MoU with Hindustan LNG

By LNG World News Illustration purposes only (Image courtesy of AG&P)AG&P (Atlantic, Gulf and Pacific Company) signed a memorandum of understanding with Hindustan LNG to supply tolled gas to power stations in the East Godavari region of Andhra Pradesh, India. Under the agreement, AG&P will provide an integrated solution to deliver regasified LNG through a…

Low oil and gas prices push Chevron to loss in 2016

By LNG World News Image courtesy of ChevronUS-based energy giant Chevron, reported a loss of US$497 million for the year 2016, compared to a profit of $4.6 billion a year before. Speaking of the results, John Watson, Chevron’s chairman and CEO, said that the company’s earnings reflect the low oil and gas prices during the…

Report: McDermott to buy ‘Ceona Amazon’ at a hefty discount

By Offshore Energy Today Offshore installation player McDermott is reportedly set to acquire the offshore construction vessel Ceona Amazon, and at what discount! According to Nor-Ocean, which cited industry sources, McDermott is expected to finalize the acquisition in February for an estimated $80 million. The shipbroker points out the price would be at some 80…

Lundin to drill Edvard Grieg appraisal with ‘Island Innovator’

By Offshore Energy Today.. Oil company Lundin has received consent from the Petroleum Safety Authority (PSA) to carry out exploration drilling on the Edvard Grieg field, off Norway, with the Island Innovator rig. Lundin is the operator of the Edvard Grieg field, in the North Sea, around 140 kilometers west-southwest of Stavanger. The field is…

Polarcus to lose two board members

By _Offshore_Energy_Today_ A board member of marine seismic acquisition company Polarcus has decided to resign while another one opted not to stand for re-election at the company’s next AGM in May. Polarcus said on Monday that Chris Kelsall has resigned from the company’s board of directors with effect from January 29, 2017. To remind, Kelsall…