Fossil Energy
Sigma Drilling Cancels Drillship Order in South Korea
Vantage Drilling Company announced today that Sigma Drilling Ltd. (“Sigma”) has terminated the construction contract for a new, high-specification drillship with STX Offshore & Shipbuilding Co. Ltd. STX had notified Sigma that it was suspending activity on the project on August 29, 2013 due to effor
HRT Extends FPSO Polvo Contract
BW Offshore has signed an agreement with HRT for a one year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2015 (from Q3 2014), with options until Q3 2022. The Polvo oil field is owned by HRT (operator, 60%) and Maersk (40%). With reference to BW Off
Tangiers Quits Australian Exploration Permits. Focuses on African Opportunities
Tangiers Petroleum Limited advises that the government have formally indicated that no further extensions of time will be granted for its two remaining Australian exploration permits. Consequently, it is anticipated that exploration permits, WA-442-P and NT/P81 will be cancelled by the National Offs
Sterling: First Ampasindava Well Could be Drilled in 2015/16
Sterling Energy Plc, has provided an update on activities in its Ambilobe and Ampasindava Blocks, located offshore Madagascar. A 1,314 km 2D seismic acquisition programme was completed on the Ampasindava Block in December 2013; the data will provide improved sub-surface imaging of the large Sifaka p
Top News of The Week January 6 – 12, 2014
Camac, Bumi Armada Sign LOI for ‘Armada Perdana’ FPSO CAMAC Energy Inc. has signed a letter of intent for a long-term agreement for the floating, production, storage, and offloading system (“FPSO”) ARMADA PERDANA. Oil Leaking from Hibernia Platform Offshore Canada Hibernia Management and Developme
British National Dies in ‘Sevan Brasil’ Accident
An offshore worker died in an accident earlier this week on a drilling rig off the coast of Brazil.
Hess Sells Pangkah Asset (Indonesia)
Hess Corporation today completed the previously announced sale of its Pangkah asset to a subsidiary of PT Saka Energi Indonesia. The subsidiary company exercised its pre-emption rights, for a total after tax consideration of $650 million comprising the sale of equity interests in certain holding ent
Chevron Upstream Earnings Down on Australia, Gulf of Mexico Downtime
Chevron today reported in its interim update that earnings for the fourth quarter 2013 are expected to be comparable with third quarter 2013 results. Upstream earnings for the fourth quarter are projected to be lower than the prior quarter, while downstream earnings are expected to be higher. The in
Asia Pacific Delays to Pull ShawCor’s 4Q Earnings Down
ShawCor Ltd has announced that it expects to report significantly lower earnings for its fourth quarter of fiscal year 2013 compared with the record earnings reported in the third quarter. These preliminary estimates are being provided despite the fact that ShawCor’s auditors have not completed thei
ONGC, Rocksource in Legal Dispute
Norway’s Rocksource ASA has received a legal notice from Oil and Natural Gas Corporation of India (ONGC) invoking arbitration related to disputes over historical costs in the CY-DWN-2001/1 Production Sharing Contract (PSC) offshore India. Rocksource said it was evaluating its response but added th
PSA Audits Det Norske’s Risk Management at Ivar Aasen
Between 29 and 31 October 2013, the Petroleum Safety Authority Norway (PSA) carried out an audit of the work of Det norske oljeselskap ASA (Det norske) to ensure compliance with the regulatory requirements for barrier management in the Ivar Aasen development project. The objective of the audit was t
Elisabeth Tørstad Becomes CEO in DNV GL – Oil & Gas
Elisabeth Tørstad is appointed CEO in DNV GL – Oil & Gas. She took on the role from January 2014, operating from the company’s Oil & Gas headquarter in Oslo. “I am very pleased to announce that Elisabeth Tørstad has accepted this role. Her background, career and experience match very well with the o
Noreco to Drill in PL 484 with Bredford Dolphin
Noreco Norway AS has received consent to use the Bredford Dolphin semi-submersible drilling rig on a well in the Norwegian Sea. The consent applies to drilling and permanent plugback of well 6608/10-16 in production licence 484. Water depth at the site is approximately 371 metres. The operations a
PSA Norway to Investigate Snohvit Gas Leak Incident
The Petroleum Safety Authority Norway is investigating the last week’s Melkøya gas leak incident. The gas leak at the Statoil-operated gas liquefaction facility outside Hammerfest was discovered Sunday night, January 5. Upon the discovery of the leak Statoil conducted a controlled shutdown and press