Abu Dhabi Petroleum Ports Operating Company (IRSHAD) announced an investment of AED2bn ($544m) for new vessels over the next five years.

The Caspian Sea lacks sufficient capacity to respond to emergencies relating to the offshore oil and gas industry, according to panellists at Middle East Workboats and Offshore Marine in Abu Dhabi.

London P&I club has called attention to improper ECDIS operation as a cause of a number of recent accidents.

Risk-averse bankers and offshore vessel operators reluctant to involve local partners are factors constraining offshore development in West Africa.

Singapore-listed Vallianz Holdings has expanded its orderbook to $334m with a new joint venture in Saudi Arabia.

Singapore-based Otto Marine has entered into two bareboat charter agreements on two work maintenance vessels to an affiliated Malaysia-based company Expro Synergy.

The Middle East region’s OSV market is showing healthy growth, according to ABS evp of energy development Ken Richardson, speaking at Middle East Workboats & Offshore Marine (MEWBOM) conference in Abu Dhabi yesterday.

Rigships, a Dubai-based brokerage and management firm, has forecast strong fundamentals and continued growth in the Middle East offshore market.

Saudi Aramco's offshore fleet is set to grow by 50 vessels to a total of 260 by 2016, as well as a fleet renewal strategy that will see most of its tonnage replaced with new, larger, more powerful vessels in the next few years.

The long-awaited Petroliam Nasional (Petronas) engineering, procurement, construction, installation and commissioning (EPCIC) contract for the two gas fields in the SK316 Block north of Bintulu have been awarded, somewhat predictably, to the...