ATP Oil & Gas Corporation is expanding its deepwater operating and infrastructure expertise to offshore Israel. Subject to approval of the Ministry of National Infrastructures (MNI), ATP has signed agreements to acquire five licenses, of which two are pending, in approximately 4,000 feet of water. T
Natural gas should play a key role in reaching Europe’s 2050 climate targets in the most cost-efficient manner, according to a report published today by the European Gas Advocacy Forum (EGAF). Statoil participates in the EGAF together with a number of other key gas players. The EGAF report addresses
Ropes made with Dyneema®, ultra-high molecular weight polyethylene (UHMWPE), are being successfully used to secure rigs, Mobile Offshore Drilling Units (MODUs), Buoyant Turret Mooring (BTM) systems and similar constructions in the offshore oil and gas industry. Users are finding them invaluable when
Kongsberg Seatex’s unique ‘eBird’ Seismic Streamer Control System has been nominated for the prestigious Honours Award for Design Excellence by the Norwegian Design Council (NDC). Kongsberg Seatex, Kongsberg Maritime’s specialist in position reference systems, and attitude determination, is one of f
Ensco plc reported diluted earnings per share from continuing operations of $0.90 for fourth quarter 2010, compared to $1.40 per share in fourth quarter 2009. Earnings from discontinued operations were $0.03 per share in the fourth quarter, compared to $0.06 per share a year ago. Diluted earnings pe
Repsol posted net income of 4.693 billion euros for 2010 compared to 1.559 billion euros in the previous year. Excluding extraordinary items, recurring net profit improved 54.9% to 2.360 billion euros. The 2010 earnings increase is mainly due to the good performance of the company’s ongoing activiti
Paris hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Nicolas Sarkozy, President of France. The parties considered cooperation between Russia and France in the energy sector placing a special emphasis on the progress with joint projects of Gazpr
Origin Energy Limited (“Origin”) today reported that Underlying EBITDA was up 16 per cent to $818 million on the prior corresponding period. Importantly, Underlying EBITDA before exploration expenses was $915 million, up 26 per cent and Group operating cash flow after tax of $794 million was up 87 p
Siem Offshore As has agreed to acquire a large-size PSV of VS 485-design. The investment will be done through the 51% owned subsidiary Siem Meling Offshore DA at a price of NOK 345 million (USD 61.3 million) . The vessel will be partly financed by a debt facility of NOK 262 million. The vessel [&hel
Seadrill reports fourth quarter and preliminary 2010 results: Highlights Seadrill generates fourth quarter 2010 EBITDA of US$618 million Seadrill reports fourth quarter 2010 net income of US$268 million and earnings per share of US$0.61 after adverse accounting impact of US$145 million (US$0.35 per
Endeavour International Corporation today announces that its wholly owned subsidiary, Endeavour Energy U.K. Ltd., has received all the approvals necessary to finalize the acquisition of an additional 20% working interest in the Bacchus field in the North Sea from Shell U.K. Limited. As a result of t
Two wells from the platform # 660 have been commissioned recently after completion of drilling works. The daily production of the wells # 652 and # 653 drilled to Girmaki Suite makes 6 tons of oil. The wells are drilled by Oil Rocks Offshore Drilling Works Office of SOCAR Complex Drilling Works Trus
Lundin Petroleum AB (announces that drilling of exploration well 25/10-11 on the Earb South prospect has commenced. The well is located in licence PL505 in the Norwegian North Sea. The Earb South prospect is located 15 km west of the Balder Field and 35km south of the Heimdal facilities. The well wi
The world market for subsea hardware is set for strong growth over the forecast period to 2015, increasing by 23% compared to 2006-2010. Douglas-Westwood projections for global Capex for the period total $139 billion. Fields are being developed in deeper waters, from increasingly-remote locations an
