Fossil Energy
Songa Offshore secures $1.1B loan to finance construction of Cat D rigs
Songa Offshore SE has secured loans to finance construction of two semi-sumbersible drilling rigs. The company has received a firm commitment from banks and an Export Credit Agency for the financing of the Cat D 3 and 4 newbuilds with a pre-delivery financing of USD 90 million per rig and a post-del
Ithaca Energy delighted with third Stella development well results
Ithaca Energy Inc. has announced completion of flow test operations on the third development well on the Stella field in je UK North Sea, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day (“boepd”). Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stel
No oil at Brugdan II well (Faroe Islands)
Statoil has announced that drilling of the Brugdan II Re-Entry well in the licence 006 offshore the Faroe Islands has concluded. The well will now be plugged and abandoned. The drilling rig West Hercules will now start drilling on the Sula/Stelkur well in the Faroe Islands. It was drilled to 4542 me
Energean: Oil reserves offshore Greece up 10%
Energean Oil & Gas, the international oil & gas exploration and production company focused on the Mediterranean and North Africa, announces that estimated recoverable oil reserves (2P) at its assets in the Gulf of Kavala, offshore North Eastern Greece, have increased by more than 10 per cent. The re
Statoil awards pipeline repair system deal to Technip-DeepOcean JV
The Technip-DeepOcean PRS Joint Venture (JV) was awarded by Statoil ASA a new frame agreement for Pipeline Repair System (PRS) Pool services.
Siem Offshore refuses to pay penalty for alleged tax fraud scheme
Økokrim, The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime, has today levied a fine to Siem Offshore Inc. of NOK 10 million for alleged violations of Norwegian tax legislation following the indictment which was reported in August 2013. According t
Reuters: Statoil needs more time for Johan Castberg concept
Norwegian oil giant Statoil is yet to decide on the concept for the development of the Johan Castberg field in the Barents Sea. As reported by Reuters today, Statoil’s CEO Helge Lund said that the company needs more time mature the concept adding it will not take long before Statoil reveals more inf
Rosneft men enter FESRC Board
On June 26, 2014 in Vladivostok Rosneft President, Chairman of the Management Board Igor Sechin took part in the annual general meeting of shareholders of the Far Eastern Shipbuilding and Ship repair center (FESRC); its Board of Directors is also headed by Igor Sechin. In the course of the AGM the a
Norway: Petroleum minister opens Statoil’s IOR centre
Norwegian Minister of petroleum and energy Tord Lien opened today Statoil’s new research centre for improved oil recovery (IOR) at Rotvoll in Trondheim, mid-Norway. A key element in reaching our 60% recovery rate ambition on the Norwegian continental shelf (NCS) is now in place. Statoil’s head of re
Danish oil production decline continues
In 2013 the Danish state generated revenue of about DKK 22.1 billion from oil and gas production, equal to about 63 per cent of total profits from activities in the North Sea.
Petrofac, First Reserve enter $1.25B JV agreement
Petrofac, the international service provider to the oil and gas industry, has entered into a Framework Agreement with First Reserve, the global energy-focused infrastructure investment firm, to create PetroFirst Infrastructure Partners. The new venture intends to deploy capital both in purchasing a
Fred. Olsen raises cash for newbuild ‘Bollsta Dolphin’
Fred. Olsen Energy ASA has signed a new six-year bank credit facility of up to $2 billion. The company said in the release that the credit facility will be used to repay existing bank loan, full-finance the newbuild Bollsta Dolphin semi-submersible drilling rig and for general corporate purposes. Th
ConocoPhillips extends ‘Volstad Princess’ charter
Volstad Shipping, a Norway-based owner of offshore support vessels, today announced a new charter deal with ConocoPhillips.
Sonardyne delivers heavy duty ORTs to Subsea 7
Subsea 7 has taken delivery of a consignment of acoustic release transponders and accompanying heavy duty release frames from Sonardyne International Ltd. The Oceanographic Release Transponders (ORTs) will be used, up to 17 at a time, to assist with the installation of 20 structures being lowered to