Barnhart spreads 362-tonne column across two bridges
PRESS RELEASE – Barnhart has moved a 60-metre long column weighing 362 tonnes from Freeport to a fracking unit at a refinery in Texas. The column was so large that the company had to use...Read more
United Heavy Lift moves 8,000-tonne turret
United Heavy Lift has safely moved an 8,000-tonne turret for Equinor’s new Johan Castberg FPSO. The turret is designed by SBM Offshore and will now be shipped from Drydocks World Dubai to Singapore where the...Read more
Scana Offshore wins contract for Equinor’s new floating wind farm
PRESS RELEASE – Kvaerner has awarded Incus-owned Scana Offshore a contract for the supply of mooring equipment to Hywind Tampen, Equinor’s new floating wind farm. The contract is Scana Offshore’s first hardware contract in the floating...Read more
OPEC+ agrees on record production cut
OPEC and its allies have agreed to cut oil production by 9.7 million barrels per day starting May 1st. The record cut is aimed at stabilizing the oil price which has dropped dramatically due to...Read more
Market doubts record production cuts of OPEC+ will be enough
OPEC+ yesterday revealed plans for record production cuts of 10 million barrels per day but the deal currently hinges on Mexico, which did not agree with the proposed cuts. Even if OPEC+ does reach consensus,...Read more
Allseas to remove 35,300 tonnes of topsides and jackets from North Sea
PRESS RELEASE – Allseas has been contracted to remove a total of 35,300 tonnes in topsides and jackets from the Norwegian North Sea. Platform preparations are scheduled to commence later this year and part of...Read more
Aker Solutions could temporarily lay-off up to 6,650 employees
Aker Solutions might temporarily lay-off as much as 6,650 of its 16,000 employees. The company has also initiated an early retirement program and frozen all salaries including that of executive management. “The first months of...Read more
Australia’s largest LNG producer slashes expenditure in half
Woodside, Australia’s largest LNG producer, is slashing its total expenditure for 2020 in half and is deferring final investment decisions on a number of major development projects. With cost pressure in the market evaporating, Woodside...Read more
Van Oord had tough 2019, prepares for “another challenging year”
Van Oord has had a tough year in 2019 with rising debt and lower revenue and profit as a result of the difficult dredging market. Confronted with the coronavirus, “2020 looks set to be another...Read more
“Double-edged crisis could lead to catastrophic job loss”
The British oil industry is sounding the alarm warning that the oil price war and Covid-19 could drive the North Sea oil and gas industry over the cliff edge, putting tens of thousands of offshore...Read more
More than 200 European oilfield service providers face bankruptcy
More than 200 European mid- and small-sized oilfield service companies face insolvency as Covid-19 will hit the market hard and cut purchases by USD 5 billion year-on-year, a new analysis by Rystad Energy shows. In pre-coronavirus...Read more
Pioneering Spirit tests new 5,000-tonne crane
PRESS RELEASE – Allseas is ramping up the final performance tests of Pioneering Spirit’s new 5000-tonne crane as the final phase of commissioning nears conclusion in Rotterdam’s Alexiahaven. This week, the main hoist overload test...Read more
Video: Pioneering Spirit’s new Jacket Lift System explained
Allseas’ record-breaking construction vessel Pioneering Spirit will soon be able to remove and install jackets weighing up to 20,000 tonnes in a single lift. Systems and parts of the new Jacket Lift System are taking...Read more
Tidewater to dispose of nearly 50 vessels this year
Offshore supply vessel operator Tidewater plans to dispose of 46 vessels in an attempt to improve its balance sheet. Despite improving market conditions and a 20% hike in revenue, the company recorded a net loss...Read more
SURVEY: Last chance to win 2 VIP tickets for the Project Cargo Summit 2020
2020 has started tumultuous with rising fuel costs, weaker freight rates and the unexpected coronavirus outbreak. To report on these developments as accurately as possible and have a better understanding of what keeps our readers...Read more
Heerema installs first Qatar-made topside
PRESS RELEASE – Heerema’s Aegir vessel has completed the installation of the 4,000-tonne jacket and topside for Qatargas’ North Field Bravo Living Quarters Expansion project. “The project itself was a historic milestone for Qatar, with the...Read more
Maersk Decom wins first “end-to-end” decommissioning contract
PRESS RELEASE – Maersk Decom has won its first complete end-to-end plugging and abandonment decommissioning contract since the joint venture was established in 2018. The contract was awarded by Tullow Oil and concerns the Banda...Read more
Blue Water Shipping continues Caribbean expansion
PRESS RELEASE – Blue Water Shipping is opening a new office in Trinidad and Tobago to further service the growing oil and energy sector in the Caribbean and the north-eastern region of South America. “We see a...Read more