Fossil Energy
Greece, Italy and Albania Cement Their Support for TAP Project
The governments of Greece, Italy and Albania have today cemented their full support for and commitment to the Trans Adriatic Pipeline (TAP) project by signing a tri-lateral intergovernmental agreement (IGA). Concluded at the Ministry of Foreign Affairs in Athens, the IGA solidifies a range of key co
Rosneft Secures $14.2 Bln Loan to Pay for AAR’s TNK-BP Stake
Russia’s Rosneft today, February 13, signed loan agreements for the total amount of U.S. $14.212 billion. The money raised will be used for the acquisition of a 50% stake in TNK-BP Ltd. from AAR (Alfa, Access, Renova) Consortium. The cost of the financing that is being arranged is one of the lowest
Salamander Spuds North Kendang Well Offshore Indonesia
Salamander announces the spud of the North Kendang-1 exploration well in the South East Sangatta PSC. Salamander has a 75% operated interest in the South East Sangatta PSC. The North Kendang-1 well will be drilled to a depth of approximately 2,600 m total vertical depth sub-sea (‘TVDSS’). The North
Vitol to Launch Takeover Offer for Sterling Resources
Vitol Anker International B.V., a wholly owned subsidiary of The Vitol Group, announced that it intends to make an offer to buy all of the outstanding common shares of Canada’s oil company Sterling Resources Ltd., not beneficially owned by Vitol Anker and its affiliates, for cash consideration of $0
Finland’s Wärtsilä Secures Loan for R&D Activities
Wärtsilä Corporation and Nordic Investment Bank have signed a loan agreement totalling EUR 50 million for research and development financing. The contract for this 10-year loan was signed in Helsinki, Finland on 13 February 2013. This R&D loan supports Wärtsilä’s long-term strategy of strengthening
Rapp’s Electrical ROV Winches for Technip’s “Deep Orient”
Rapp Hydema has delivered 2 ea. Electrical ROV Winches including all Electric Frequency controlled with PTS Pentagon, Active Heave Compensated Control System and 4 ea. Electric motors drive in parallel to Technip. The equipment was installed on board Technip’s new subsea construction & flexible pipe
IHC Asia Pacific Names New Product Director (Singapore)
IHC Asia Pacific, the regional headquarters of IHC Merwede in Singapore, has announced the appointment of Francis Tang as Product Director for the Product Market Combination team responsible for global sales and marketing of service and support vessels. Currently Managing Director of the Singapore o
Snakes Pay a Visit to Maersk Deliverer Rig in Angola
Denmark’s Maersk Group today posted an interesting story about snakes visiting its Maersk Deliverer semi-submersible drilling rig. The company did not specify how and when exactly the snakes appeared on its drilling unit in Angola. Maersk said: “They’re big, they’re brown, they’re long, they’re…snak
FMC Technologies Revenue Increases 23 Percent in 2012 (USA)
FMC Technologies, Inc. reported fourth quarter 2012 revenue of $1.8 billion, up 23 percent from the prior-year quarter. Total company revenue for 2012 was $6.2 billion, and operating profit was $784.7 million. “We are pleased to report record full year subsea revenue and operating profit,” said John
Acteon Presents at SPE/IADC Drilling Conference (The Netherlands)
Acteon announces that its companies will attend the SPE/IADC Drilling Conference. The conference is a valuable opportunity for producers, contractors and service company professionals to connect with a view to advancing and improving drilling operations. The company will provide the opportunity to l
Plexus Wins Contract Extension from Maersk Oil UK
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces that Maersk Oil North Sea UK Limited (‘Maersk Oil UK’) has agreed to exercise two, one year extension options attached to an original contrac
Total to Spend $2.8 Bln on Exploration in 2013
French oil major Total today announced the net investment budget for 2013 of $22 billion. The exploration budget has been increased to 2.8 B$ for 2013, up from $2.5 billion in 2012. The company said that the high-potential exploration program for 2013 reflects the new dynamic of the Group, with pros
PETRONAS Carigali Hires Two OSVs from Alam Maritim (Malaysia)
Alam Maritim Resources, a Malaysia-based owner of offshore support vessels, was last week awarded a contract to provide two OSVs to PETRONAS Carigali. The vessels, hired on a firm contract of seven months, will be used by Petronas Carigali to support offshore drilling operations. Upon expiration of
Dry Well for Statoil (Norway)
Statoil Petroleum AS, operator of production licence 169, is about to complete drilling of wildcat well 25/11-26. The well was drilled about nine kilometres northeast of the Grane field in the North Sea. The primary exploration target for the well was to prove petroleum in the Balder formation in Eo