Fossil Energy
TAQA Reorganises HQ to Save $20 Mln
TAQA, the international energy and water company based in Abu Dhabi, has undertaken a reorganisation at its headquarters to enhance efficiency. The measures will reduce general & administrative costs by more than USD 20 million in 2014 and are part of a global initiative to position TAQA to deliver
Total Acquires Offshore Block in Oman
French oil company Total has signed an Exploration and Production Sharing Agreement (PSA) for offshore Block 41 with the government of the Sultanate of Oman. This PSA was awarded following the exploration round launched by the Omani government in November 2012. Located off the Omani coast northwest
GDF SUEZ, JX Nippon Acquire Block 3F, Offshore Sarawak, Malaysia
GDF SUEZ has jointly entered the offshore deep water exploration Block 3F in Malaysia in partnership with PETRONAS Carigali (40%), operator of the block, and JX Nippon Oil & Gas Exploration (Offshore Malaysia) (40%). GDF SUEZ holds 20% participating interest in the license. The license has been awar
Malaysia Celebrates 100th Active PSC
Malaysia now has 100 active production sharing contracts (PSCs), a significant achievement and milestone in the country’s oil and gas upstream operation, following the award by PETRONAS of its latest PSC on 11 December. The PSC, awarded to Salamander Energy Malaysia Limited and PETRONAS Carigali Sdn
SeaBird’s Voyager Explorer Contract Cancelled
SeaBird Exploration Plc has informed that a contract previously announced for the Voyager Explorer with a national oil company in the Asia Pacific region, has been cancelled after a series of delays. The contract had an estimated duration of about 110 days and start was expected mid-November. The co
Total Hires FSO from KNOT
KNOT FSO 1 AS, a wholly owned subsidiary of Knutsen NYK Offshore Tankers AS, of which NYK has a 50 percent share, has signed a time-charter contract with Total E&P Norge AS for a floating, storage, and offloading unit (FSO). For this project, a KNOT shuttle tanker will be converted into an FSO unit
AWE Raises Cash to Fund Further Development
AWE Limited, an upstream oil and gas company with production, development and exploration assets in Australia, New Zealand, USA and Indonesia, today announced that it has successfully executed a A$300 million unsecured multicurrency syndicated bank loan facility which will replace its existing bilat
Global Petroleum Seeks Partner to Fund Further Exploration (Namibia)
Global Petroleum Limited, the oil and gas exploration company presently focused on emerging plays in Africa, announces an update on the proposed farm down of the Company’s 85% participating interest in Petroleum Exploration Licence No. 0029 (“the Licence”) covering Offshore Blocks 1910B and 2010A in
CEPSA Farms Into Suriname’s Block 53
Apache Corporation said today that CEPSA Suriname S.L., a Spanish company, has farmed in to a 25-percent participating interest in Suriname’s Block 53, a 867,117-acre (3,509 km2) area located in 1,640-5,900 feet (500-1,800 meters) of water about 80 miles (130 km) offshore. Apache Suriname Corporatio
Chevron Allocates $35.8B for Exploration and Production in 2014
Chevron Corporation has announced a $39.8 billion capital and exploratory investment program for 2014. Included in the 2014 program are $4.8 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron. The 2014 budget is approximately $2 billion lower than expected to
Saipem Sells Firenze FPSO to Eni for $463M
The Board of Directors of Saipem S.p.A. has approved today the signing of an agreement with Eni for the sale of the Firenze FPSO (Floating Production Storage and Offloading) business line for €336 million ($463 million). The agreement will see the sale to Eni of the Firenze FPSO unit, currently depl
Heerema Begins Construction of Its Largest Jacket Ever – Gina Krog
Heerema Fabrication Group’s Vlissingen yard in the Netherlands today celebrated the ceremonial first cut steel of the Gina Krog jacket, the largest launch jacket ever built at HFG for client Statoil Petroleum AS and destined for the Gina Krog field development in the central part of the North Sea. S
GlobalData: Bangladesh Needs to Make Shallow-Water Blocks More Attractive to Investors
Offshore blocks offered in Bangladesh’s Bay of Bengal have attracted a disappointing level of interest from license-holders; however, anticipated improvements to the terms governing the country’s oil and gas industry could entice investors, says research and consulting firm GlobalData. According to
GE to Provide Dynamic Positioning for Logitel Offshore’s Newbuilds
GE’s Power Conversion business has received a contract for the supply of dynamic positioning (DP) for a vessel Floating Accommodation Unit that Cosco (Nantong) Shipyard in Nantong City, China, is building for Logitel Offshore, the Singapore-based floating logistics and accommodation rig owner that h