Fossil Energy
Cameron, Schlumberger Enter Subsea Equipment JV
Cameron and Schlumberger today announced the creation of OneSubsea™, a joint venture to manufacture and develop products, systems and services for the subsea oil and gas market. This new company will offer a step change in reservoir recovery for the subsea oil and gas industry through integration an
Subsea Part of Knarr Project Well Managed, PSA Says
From 16-17 October 2012, the Petroleum Safety Authority Norway (PSA) carried out an audit of the Knarr project. The activity was directed at the project management for the subsea facility, pipeline systems and gas export pipeline. The audit emphasised roles and responsibilities in the project organi
Statoil: Global Jigsaw Puzzle for Gudrun
Norway’s oil giant Statoil today announced that the Gudrun platform deck arrived at Haugesund on Tuesday, after a month-long voyage from Thailand. The platform will now be assembled on land, with building blocks from three continents. Statoil is slated to deliver 2.5 million barrels of oil equivalen
Valiant Petroleum Names Acting CEO (UK)
Valiant Petroleum plc announces the appointment of Michael Bonte-Friedheim as Acting CEO in order to allow Peter Buchanan to focus on a buyout proposal, to be considered alongside other options as part of the Strategic Review and Formal Sale Process that was announced by the Company on 6th September
Aker Solutions Secures EUR 400 Mln Loan (Norway)
Norway’s Aker Solutions ASA has signed a new syndicated multi-currency credit facility of EUR 400 million. The facility is split into a 3-year tranche of EUR 270 million and a 1.5-year tranche of EUR 130 million and will be used for upcoming investments and general corporate purposes. In the new cre
FID Reached for South Stream Offshore Section
The South Stream Transport Board of Directors which includes representatives from Gazprom, Eni, EDF and BASF yesterday in Milan, Italy discussed the key issues of the South Stream project and adopted the final investment decision for the offshore gas pipeline section. The financial details of the FI
BP Facing Record Fine in Deepwater Horizon Settlement
British oil giant BP could pay a record fine and plead guilty to criminal misconduct in the Deepwater Horizon disaster as a part of the plea deal with the U.S. Department of Justice, Reuters has reported, citing sources close to the matter. The agreement could be announced as early as today, Reuters
SBM Offshore Sells DSV Dynamic Installer
SBM Offshore, a Dutch based provider of systems and services to the global offshore oil and gas industry, today, November 15, announced it has sold a Diving Support Vessel to Dulam. The vessel, DSV Dynamic Installer, has been sold to the Dubai-based subsea services company, Dulam, for USD 14.8 milli
Subsea 7 Bags Largest Ever SURF Contract in Norway
Subsea 7 S.A. today announced the award of a subsea, umbilical, riser and flowline (SURF) contract valued at approximately $800 million from Total E&P Norge AS for the development of the gas field Martin Linge, located 180 km west of Bergen in the North Sea. The contract comprises engineering, procu
Shell Awards Technip Framework Agreement
Technip was awarded by Shell Global Solutions (Malaysia) Sdn Bhd a framework agreement for offshore facilities in a region covering Asia, Australia, and New Zealand (“East region”). The contract is for a period of five years, with an additional five-year extension option. The contract concerns engin
Craig Group Reports ‘Healthy’ 2012 Results (UK)
Aberdeen head-quartered global shipping and energy services firm, Craig Group, has announced results for the year ending April 2012. The privately owned, family-run business has reported turnover of £123.3 million with operating profits of £14.8 million. This is an increase on their 2011 turnover of
Indonesia: Gov’t Dismantles BPMigas. AWE Not Worried
Constitutional Court of Indonesia has dismantled BPMIGAS as the state upstream oil and gas regulator. According to Jakara Post the government is considering transferring the functions of the now-defunct BPMigas to a subsidiary of state energy firm PT Pertamina. It has been reported that all the prod
Shell: Global Natural Gas Demand to Increase 60% by 2030
Royal Dutch Shell plc hosted a management day with investors today, focusing on global gas and Asia Pacific Upstream. Outlining Shell’s global gas strategy, CEO Peter Voser said: “Strong growth in gas markets, especially Integrated Gas, is a major opportunity for Shell and our shareholders. Our Inte
COSLInnovator Starts Troll Field Operations (Norway)
COSL Drilling Europe today announced that its COSLInnovator semi-submersible drilling rig started operations on the Statoil’s Troll field in Norway. Statoil is using the rig to drill the well 31/2-K-23 in the Norwegian part of the North Sea. Statoil’s contract with COSL Drilling Europe for the use o