Fossil Energy
Songa Offshore signs $1B loan deal to pay for Cat D rigs
Songa Offshore has secured a $1 billion loan to finance construction of two semi-submersible drilling rigs. The offshore drilling contractor has announced that the documentation for the previously announced $ 1,014 million loan facilities for the financing of the first two Cat D drilling rigs, Songa
Mercator Petroleum gets two shallow water blocks offshore Myanmar
India’s Mercator has added two offshore blocks to its portfolio. The blocks are located in the shallow waters of Myanmar. Mercator Petroleum Ltd, a subsidiary of Mercator Limited, in consortium with Oil India Ltd., and Oilmax Energy Pvt. Ltd., has been chosen as the selected candidate by the Ministr
Petrobras: No evidence of bribery in SBM Offshore investigation
Brazilian state-run oil company Petrobras has completed an investigation into an alleged bribery case involving SBM Offshore and its employees. No evidence of wrongdoing has been found. Petrobras has announced that the Internal Commission of Inquiry, formed on Feb. 13, 2014 to investigate alleged br
SAS launches oil industry route between Stavanger and Houston
SAS is launching services between Stavanger and Houston on August 20. This fulfils the wishes of leading players in the oil industry for better connections between Norway, and the rest of Scandinavia, and Houston, Texas. “The route we have established is a tailored product for a defined market with
Petronas Vice President lays out firm’s strategies
Petronas has allocated around MYR 1.1 billion until 2018, for our E&P Technology Centre arm to develop innovative and applicable technology to rejuvenate mature oil fields
Eni CEO sentenced to three years in prison
Paolo Scaroni, the Chief Executive of Italy’s largest oil company Eni, has been sentenced to three years in prison. According to La Repubblica, the court of Rovigo accepted the prosecution’s argument that Scaroni, while being the CEO of Enel, Italy’s largest electricity utility, was guilty of willfu
COSL begins seismic survey in East China Sea
Primeline Energy Holdings Inc. today announced that its contractor, China Oilfield Services Ltd. (COSL), has commenced the 3D seismic survey in Block 33/07, East China Sea. As announced in December 2013, Primeline signed a turnkey contract with COSL for a 600sq km 3D seismic survey in Block 33/07 as
COPL starts drilling campaign and expands interest in West Africa.
Canadian Overseas Petroleum Limited, the offshore West Africa focused oil and gas exploration and development company, has provided a corporate and operational update. London Listing COPL has received approval from the UK Listing Authority for the publication of a prospectus relating to its admissio
Niko sells Block 5 (c) stake in Trinidad to BG Group
Niko Resources Ltd. has announced that it has executed a definitive sale and purchase agreement for the sale of its 25% interest in Block 5(c) in Trinidad and Tobago to a subsidiary of the BG Group, 75% interest owner and operator of the block, for gross proceeds of $62 million. Under the terms of t
GE and Petronas sign agreement to strengthen Malaysia’s energy sector
GE has signed a new seven-year Global Frame Agreement with Petronas, Malaysia’s leading oil and gas corporation. The agreement, which includes an option to renew for a further three years, calls for GE to supply gas turbine packages for Petronas’ onshore and offshore projects in Malaysia and other c
PSA Norway looking at early PDO inclusion
Closer follow-up in the initial stage of a project ensures fewer nonconformities and reduces the need for difficult and expensive modifications. The Petroleum Safety Authority now aims to step up such monitoring. Many decisions have to be taken when a field is being developed or substantially modifi
Harkand hires HOS Mystique offshore construction vessel
Global inspection, repair and maintenance (IRM), survey and light construction contractor Harkand has entered into a charter agreement with Hornbeck Offshore for the offshore construction vessel HOS Mystique for a firm period of two years plus options. The 250ft (76.2m) DP2 vessel has a 70 MT AHC cr
PSA: Gullfaks A platform needs improvements
From 3 to 7 March 2014, the Petroleum Safety Authority Norway (PSA) carried out an audit of Statoil Petroleum AS (Statoil) and Gullfaks A platform in the Norwegian part of the North Sea. The objective of the audit was to assess the company’s control and management of materials handling, the technica
PETRONAS’ Real Time Visualisation Centre opens
PETRONAS Real Time Visualisation Centre (PRTVC), a collaborative centre for knowledge-sharing in exploration and production (E&P) operations, was launched by the Prime Minister of Malaysia, YAB Dato’ Sri Najib Tun Razak on 25 March 2014. The state-of-the-art centre was developed with the objective o