The U.S.-U.A.E. Business Council hosted a dinner on Sunday in Houston honoring visiting senior Emirati delegations, which included many representatives from the Abu Dhabi National Oil Company (ADNOC) and its subsidiaries as well as the Abu Dhabi Chamber of Commerce & Industry (ADCCI). The event took place on the eve of the launch of the [...]
Polarcus Limited, a UAE-based seismic acquisition specialist has reported its revenues for the Q1 of USD 144.8 million, up 45% from Q1 2012. The company’s EBITDA was USD 52.9 million, up 103% from Q1 2012. Net Cash Flow from operations was USD 40.5 million. In Q1 2013 Polarcus continued to deleverage the Company through the sale of Polarcus [...]
Dubai Maritime City, the world-class mixed-use maritime cluster today announced that it received Stig Ulstein, CEO of Norwegian company Ulmatec (Ulstein Marine Technology AS) along with Haavard Myrene, Director Business Development who visited Dubai Maritime City. He met Khamis Juma Buamim, Chairman of Drydocks World and Maritime World and Ali bin Towaih, VP-Business Development and [...]
Polarcus Limited (Polarcus) announce the appointment of Duncan Eley as Chief Operating Officer (COO) of the Company. Effective May 01, 2013, Eley will assume the position of COO and head the Company’s three business lines; Sales and Marketing, Multi-Client and Marine Acquisition, together with the EHSQ and Information Technology support departments. The establishment of this [...]
Hyundai E&C sets to expand its portfolio into the construction of offshore plants, a field in which global leading construction companies run into stiff competition over state-of-the-art technologies. Korea’s primary builder received a deal valued at about 1.8944 billion dollars, or approximately 2.1119 trillion won, from Abu Dhabi Marine Operating Company (Adma-Opco) to undertake “SARB-4,” [...]
Drydocks World, the UAE-based group engaged in ship repair, conversion, new building, Rigs and offshore construction, announced the launch of its Drydocks World – Global Offshore Services arm at a special ceremony organised at Dubai Maritime City, the new business units located in Fujairah and Dubai Maritime City and Drydocks Dubai. This Division has at its [...]
Drydocks World, a UAE-based service provider to the global maritime and offshore oil and gas industry, announced significant safety milestones on a number of projects in February 2013. The company has built its reputation around a strong Health, Safety and Environment culture and is working on several ground-breaking projects for major international players in the oil, [...]
Polarcus Limited, the UAE-based seismic survey specialist, announces the release of its fourth quarter and preliminary full year 2012 financial statements. The Company reported revenues of USD 140.4 million, up 34% from Q4 11; EBITDA of USD 56.6 million, up 82% from Q4 11; EBIT of USD 27.6 million, up 116% from Q4 11; Net [...]
Drydocks World, the leading maritime services provider, after the naming ceremony held yesterday by OLT LNG Offshore Toscana, announced that the FSRU Toscana conversion project at the Dubai based shipyard, is going to be finalized. The Floating Storage and Re-gasification Unit is intended for a 20 year design life 12 nautical miles off the shores [...]
Following a successful delivery of the EDC Neptune from UAE to Russia in 2012, Lamprell Energy has again selected Blue Water Shipping as their transport partner to deliver a LeTourneau S116E jack-up rig from their Hamriyah yard to Russia. “We selected Blue Water Shipping due to their competitive bid, but more importantly due to their [...]
