Uae News

 

GMS Rejects 'Opportunistic' Takeover Proposal by Seafox

May 04, 2020

Gulf Marine Services (GMS), a UAE-based provider of offshore service jack-up units has rejected a takeover proposal from Seafox.Seafox on April 30, 2020, announced an unsolicited and non-binding approach to acquire the entire issued and to be issued share capital of Gulf Marine Services. Seafox made the proposal, citing 'recent trading and share price volatility in relation to GMS.'The proposal was…

FPSO Atlanta Prepped to Join Yinson Fleet in '24

Dec 13, 2023

Yinson Production officially named its latest addition to the fleet, FPSO Atlanta, during a naming ceremony held at Dubai Drydocks World on December 13, 2023.FPSO Atlanta has a production capacity of 50,000 BOPD and a maximum storage capacity of 1…

ADNOC Fleet Rises to over 300 with ZMI Buy

Jul 28, 2022

The shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) is acquiring Zakher Marine International (ZMI), adding 24 jack-up barges and 38 offshore support vessels to its fleet. ZMI is an Abu Dhabi-based owner and operator of offshore support vessels…

Gulf Marine Services Taps LR for Software Solution to Boost Efficiency

Sep 08, 2021

UAE-based Gulf Marine Services (GMS), a company providing jack-up service vessels for the offshore oil, gas, and renewables industries, has hired Lloyd's Register for the installation of a new Enterprise Resource Planning (ERP) system.GMS said the system would provide its with a central…

ADNOC Awards Seismic Contract Worth up to $519 Million to BGP

Nov 26, 2020

Abu Dhabi's national oil company ADNOC said Thursday it had awarded a contract worth up to $519 million to Chinese seismic contractor BGP to further expand the scope of what it says is the world’s largest combined 3D onshore and offshore seismic survey…

Drydocks Starts Work on Jotun FPSO TMS

Sep 30, 2020

Dubai's Drydocks World has begun work on a part of a turret mooring system for Jotun FPSO, for Bluewater Energy, with the end client being Var Energi in Norway.Namely, Drydocks said Wednesday it had held a steel-cutting ceremony to mark the start of production of the turntable project for the FPSO…

One of World's Largest Oil & Gas Conferences Moves Online Due to Pandemic

Jul 27, 2020

ADIPEC, one of the world's largest oil and gas events held in Abu Dhabi, will this year take place online due to the COVID-19 pandemic.More precisely, the exhibition part of the event held annually for over 30 years will be moved for 2021, but the conferences will be held online…

ABS Certifies Jack-Up Rig Steel after Remote Survey

Jul 07, 2020

Classification and consultancy company ABS has provided a remote survey for steel certification at a steel mill, enabling Lamprell to continue work on jack-up drilling rigs, despite COVID-19 restrictions.Lamprell ordered 8855 MT of steel for…

ADNOC in $10B Mega Pipeline Deal with International Consortium

Jun 23, 2020

Abu Dhabi National Oil Company (ADNOC) said on Tuesday it had signed a $10 billion gas infrastructure deal with a consortium of investors, while its chief executive told Reuters the company would keep a tight lid on costs amid low oil prices…

Lamprell to Build Substructures for Scotland's Largest Offshore Wind Farm

Jun 08, 2020

The UAE-based offshore construction company Lamprell will build 30 substructures for Seagreen offshore wind farm in Scotland. The Letter of Award was awarded by Seaway 7, the Renewables business unit of Subsea 7, the lead engineering, procurement…

UAE: Jack-Up Providers Team Up to Cut Costs

May 29, 2020

UAE-based jack-up services provider Gulf Marine Services has entered into a framework agreement with Zakher Marine International ('ZMI'), a privately-owned offshore services provider also based in UAE. Both companies own fleets of self-propelled…

Drydocks World Cuts First Steel For Dutch Wind Farm Substation

May 28, 2020

Dubai's Drydocks World shipyard has cut first steel for the HVAC Transformer Station Topside, named Hollandse Kust Zuid (HKZ) Beta.This is the third such unit that Drydocks World will be constructing for Petrofac and end-client TenneT, and the second project for the HKZ offshore wind farm…

Holders of 52.24% GMS Shares Say They Won't Accept Seafox Proposal

May 21, 2020

Gulf Marine Services, a UAE-based company owning a fleet of jack-up service vessels, said Thursday it had received letters from shareholders who collectively hold 52.24 percent of the company's issued share capital saying that they didn't plant to accept Seafox's takeover proposal…

Petrofac Warns of Project Delays on COVID-19, Lower Oil Prices

May 15, 2020

Petrofac Ltd on Friday warned of delays in new projects until 2021 due to coronavirus-induced supply chain disruptions and travel restrictions as well as lower oil prices and said it was taking steps to conserve cash.The crash in oil prices…

GMS Rejects Seafox Proposal Again

May 07, 2020

Gulf Marine Services (GMS), a UAE-based owner of a fleet of jack-up service units for the offshore energy industry, has again rejected Seafox's takeover proposal and has urged its shareholders to do the same.Seafox, the Dutch owner of a fleet of offshore jack-up service vessels…

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