Fossil Energy
Xcite Energy Sells Bentley Well Data for $15 Mln (UK)
Xcite Energy has entered into a non-exclusive, confidential, binding sale and purchase agreement for certain technical data in respect of the Bentley 9/03b-6, 6Z well, and the recently concluded 9/03b-7 and 7Z extended pre-production well test. Under the terms of the Agreement, XER will receive $15
AWE Increases Estimate of Recoverable Oil for AAL, Indonesia
AWE Limited has increased its estimate of recoverable oil for the Ande Ande Lumut (AAL) K Sand development by 33% to 101 million barrels of oil (including upgrading what were previously considered Contingent Resources to Gross 2P Reserves), following an independent review and certification by Perth
Top News of the Week May 13 – 18, 2013
See the most read news of the week May 13 – 18, 2013
BP Board Visits India
The Board of the UK oil giant BP met for the first time in India to gain an understanding of the opportunities in the country. The Board also met with Government dignitaries and business partners. In an interaction with Hon’ble President of India, Pranab Mukherjee Friday, BP Chairman Carl-Henric Sva
EIB Finances Repsol R&D Plans with €200 Mln
The European Investment Bank (EIB) will finance Repsol’s research and development plan (R&D) with 200 million euros. The agreement between the European institution and the company was signed this morning at Repsol’s headquarters. The EIB Vice-President, Magdalena Alvarez and Repsol’s Chairman, Anton
Indonesia Puts 21 Exploration Blocks on Offer
Indonesian government today, May 17, launched a licensing round for 21 oil and gas exploration blocks, in an effort to improve chances of increasing the production of oil and natural gas nationwide. The authorities have classed 19 blocks as conventional and two as unconventional areas. Of the blocks
Malaysia: Inertek’s New Facility to Service E&P Sector in the Region
Intertek has invested £900,000 in a new Malaysian regional centre which will bring enhanced services to the exploration and production (E&P) sector in the region. Based in Kuala Lumpur, the facility boasts two laboratories and will allow Intertek to significantly expand its locally delivered service
Seadrill Completes Tender Rig Sale
Seadrill Limited has today completed the transaction to sell the T-15 tender rig to Seadrill Partners. The agreed upon sale is for a total price of US$210 million, less approximately US$100 million of debt outstanding under the credit facility secured by the T-15. The balance of the total considerat
Focal Marine & Offshore Wins PSV Design Orders (China)
Focal Marine & Offshore, a Singapore / Shanghai based OSV designer, has received a significant order for their 78m PSV (FOCAL 522) design, for up to 10 ships which are to be built in Xiamen Shipbuilding Industries in China. FOCAL 522 PSV design is with 4,000 ton deadweight, 800 m2 deck cargo area, c
CDC to Show Its Innovative Jack-Up Vessel at All Energy 2013
Celtic Design Consultants are to exhibit at All Energy 2013 event in Aberdeen. They will be showing their innovative multi purpose jack up design. A working model of the design, named CDC Heron, and described as the ultimate offshore maintenance & intervention vessel for Oil & Gas and Renewables, wi
GSI Completes North Sea Decom Gigs with Helix and Dof Subsea
Gulfstream Services Inc (GSI), provider of cutting edge equipment to the international oil and gas industry, has successfully completed two six figure decommissioning contracts with major oil and gas service companies, Helix Well Ops UK and Dof Subsea. The Helix contract was part of the BP North Wes
Black Elk Energy Informs of Drilling Success in U.S. GoM
Black Elk Energy Offshore Operations, LLC an independent oil and gas company headquartered in Houston, announced has the successful completion of 3 wells to kick-off their 2013 drilling program in the Gulf of Mexico. The 2013 drilling program will begin monetizing the companies “proved undeveloped r
Maersk Drilling Profit Rises on Higher Operational Uptime
Denmark’s offshore drilling contractor Maersk Drilling made a profit of USD 146m in the first quarter of 2013, an increase from USD 123m earned in the same period of 2012. The increase in profit was mainly due to general higher operational uptime in Q1 2013. All of Maersk Drilling’s 16 jack-ups and
Gazprom Hosts Meeting on South Stream Offshore Section (Russia)
The Gazprom headquarters hosted yesterday a working meeting between Alexey Miller Chairman of the Management Committee and Henning Voscherau, Chairman of South Stream Transport Board of Directors. The meeting participants discussed topics of the South Stream gas pipeline offshore section realization