Industry Sectors:Offshore

Offshore

Stena Drilling’s affiliate Stena Atlantic has exercised its right to terminate a semi-submersible drilling unit construction contract with South Korea’s Samsung Heavy Industries (SHI).
China’s shipyard Shanhaiguan New Shipbuilding Industry has been hit by a cancellation for three out of four jack-up rigs ordered by Falcon Energy Group (FEG) in 2013.
Cosco (Qidong) Offshore and Sevan Drilling have agreed to a fourth extension over the delivery of a newbuild drilling rig named the Sevan Developer.
Bumi Armada got off to a good start with first quarter net profit more than doubling to MYR48.1m ($11.2m) from MYR23.4min the previous corresponding period, even though revenue fell 6%…
Saudi Aramco, Bahri, Hyundai Heavy Industries (HHI) and Lamprell are set to move ahead with the a $5.2bn joint venture mega-yard in Saudi Arabia with partial operation in 2019.
Barakah Offshore Petroleum turned to a loss of MYR4.6m ($1.1m) in the first quarter from a MYR1.3m profit in the previous corresponding period as revenue fell to MYR76.8m from MYR103.3m…
Malaysian offshore services company Alam Maritim Resources hopes to at least maintain its current revenue of MYR200m ($46.8m) to MYR300m for 2017, however warned that it would take two to…
Singapore’s Vallianz Holdings has entered into a set-off and settlement agreement with its second largest shareholder Rawabi Holding Company, potentially allowing the Saudi Arabian firm to become Vallianz’s biggest stakeholder.
UAE-headquartered OSV owner Topaz Energy & Marine reported a $3.3m loss in the first quarter as constant challenges in the Middle East and Africa regions remain.
Malaysian offshore marine support services provider Perdana Petroleum aims to be re-listed on the Malaysian stock exchange by mid-August.
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