Shell Arctic Icebreaker Suffers Hull Damage in Alaska

MSV Fennica. Photo: Shell Alaska

  One of two icebreakers that will support Shell's arctic drilling in the Chukchi Sea this summer is now stuck in Dutch Harbor after an underwater gash was discovered in its hull. The website Fuel Fix reports that the Finnish multipurpose icebreaker MSV Fennica was departing from Dutch Harbor, AK to the Chukchi Sea last Friday when crew members and a harbor … [Read more...]

Prelude FLNG Taking Shape – Bird’s-Eye-View of Largest Floating Structure Ever Built

Prelude FLNG

Here's the latest update from Shell on its massive Prelude FLNG (floating liquefied natural gas) facility currently under construction at Samsung Heavy Industries' shipyard in Geoje, South Korea. At 488 meters long and 600,000 tons fully loaded, the facility will be the largest floating object ever constructed. And now as the last of the topside modules now safely … [Read more...]

Jack-Up Collapses at Maersk-Operated Al Shaheen Field Off Qatar

rigg kollaps2

  A jack-up barge was badly damaged this week after it collapsed offshore Qatar at the Maersk Oil-operated Al Shaheen field in the Persian Gulf. Gulf International Services said Tuesday that the accident occurred on July 5th and involved its 2014-delivered jack-up barge "Rumailah". The accident has been described as "punch-through incident", which left the … [Read more...]

Investment Firms to Buy Shipping Company Esvagt from Maersk

Photo: Esvagt

  COPENHAGEN, July 7 (Reuters) - Investment firms 3i Infrastructure and AMP Capital have agreed to buy Danish shipping company Esvagt for 4.1 billion Danish crowns ($607 million), aiming to tap growing demand for servicing offshore wind farms. Esvagt is being sold by Danish shipping and oil group A.P. Moller-Maersk, which controls 75 percent of the shares, and a … [Read more...]

Norway Baffles Analysts by Ceding 15 Million Barrels of Oil

Johan Sverdrup rendering. Photo: Statoil

By Mikael Holter (Bloomberg) -- No one can accuse the Norwegian government of being greedy when it last week decided on the ownership stakes in the giant Johan Sverdrup oil discovery. After months of deliberation, the Petroleum and Energy Ministry’s decision meant it took away as much as 15 million barrels of oil from Petoro AS, the state-owned oil company. The other … [Read more...]

BP Settlement Leaves Oil Major Open to Growth… Or Takeover

BP's Thunder Horse platform on location in the Gulf of Mexico. Photo: BP plc

  By Karolin Schaps and Ron Bousso LONDON, July 2 (Reuters) - BP's $18.7 billion settlement over the 2010 Gulf of Mexico spill draws a line under years of uncertainty to allow it to focus once again on growth but could make it an acquisition target. The British energy giant, whose shares are still some 35 percent below their value before the largest offshore spill … [Read more...]

Norway Cuts Det Norske Stake in Giant Johan Sverdrup Oil Field

johan sverdrup field

By Saleha Mohsin and Mikael Holter (Bloomberg) -- Det Norske Oljeselskap ASA, which complained its share of the giant Johan Sverdrup oil field was insufficient, got an even smaller stake after Norway’s government was called in to resolve the dispute. Det Norske fell the most in more than four months in Oslo trading after the government redistributed the stakes on … [Read more...]