Fossil Energy
Leni, MOG Go to Court Over Malta Deal
Leni Gas & Oil yesterday issued proceedings against Mediterranean Oil and Gas Plc (“MOG”) in the High Court of England and Wales in regard to the Company’s 31 July 2012 sale of its 10% interest in Malta Area 4 PSC to MOG. Leni’s Chief Executive, Neil Ritson said: “We have repeatedly asked MOG to ans
IKM Subsea Wins ROV Services Contract for FPSO Project (India)
IKM Subsea Singapore has been awarded a contract to provide ROV services onboard a Construction Support vessel for a FPSO Hook-up and Commission project in India. The vessel has been mobilized in Singapore and is currently enroute to India. IKM Subsea would be providing the in house built Merlin WR2
Bridge Welcomes Cairn and JX Nippon to Aragon Prospect (UK)
Bridge Energy has completed an agreement with Agora Oil & Gas (UK) Limited, owned by Cairn Energy, and JX Nippon Exploration & Production (UK) Limited for the farm-down of a 16.5% working interest in the P1763 Aragon prospect in the UK Northern North Sea. As a result of the Transaction, all parties
Petrobras Makes Oil Discovery in Campos Basin (Brazil)
Petrobras has discovered a new post-salt oil reservoir in the ultra-deep waters of the Campos Basin. The discovery was made at well 4-MLS-105D-RJS, informally known as Mandarim and located in the Marlim Sul field at a water depth of 1,874 meters, 126 km off the coast of Rio de Janeiro state. The acc
BP: Deepwater Horizon Accident Involved Multiple Parties
BP said “Today’s settlement between Transocean and the United States underscores what every official investigation has found: that the Deepwater Horizon accident resulted from multiple causes, involving multiple parties”.
Songa Hands Over Semi-Submersible Rig to Seadrill
Songa Offshore SE yesterday finalised the formal handover of Songa Eclipse to Seadrill in line with the Memorandum of Agreement from November 2012. As previously reported, Songa’s net proceeds from the sale is USD 590 million. After repayment of debt, the net cash effect from the sale proceeds will
Subsea 7 Clinches $300 Mln UK North Sea Job
Subsea 7 S.A. has been awarded a contract valued at approximately US$300 million from Dana Petroleum, for the provision of subsea EPIC services in support of their Western Isles development project in the UK North Sea. The contract scope includes the engineering, procurement, construction and instal
Petrobras November Oil Output Rises 1.5 Pct (Brazil)
Brazil’s Petrobras announced that its domestic oil production in November reached 1,968,307 barrels per day (bpd), 1.5% up on the October figure. Taking into account production for partner companies, total volume reached 2,007,346 bpd, up 1.7% on the October figure. Petrobras’ domestic natural gas p
Transocean Settles Deepwater Horizon Case for $1.4 Bln (USA)
Transocean Ltd. today announced that it has reached an agreement with the U.S. Department of Justice to resolve certain outstanding civil and potential criminal claims against the company arising from the April 20, 2010, accident involving the Deepwater Horizon in the Gulf of Mexico. As part of this
Aruanã and Oliva Accumulations Renamed and Declared Commercial by Petrobras (Brazil)
Petrobras, Brazil’s state-controlled oil company, today announced it has submitted Declarations of Commerciality to Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) for the oil and gas accumulations in the Aruanã and Oliva areas, located in concession BM-C-36, block C-M-401, in the
LLOG Orders $114 Mln Worth of Subsea Equipment from FMC Technologies
FMC Technologies, Inc. has received a subsea equipment order from LLOG Exploration Company, LLC (LLOG Exploration) for their Delta House project. The order has an estimated value of $114 million in revenue. The project is located in the Gulf of Mexico Mississippi Canyon area in water depths of appro
Siem Sells ‘Seven Sisters’ to Subsea 7 (Norway)
Siem Offshore, a Norway-based owner of offshore support vessels, has sold the Multi Role Service Vessel (MRSV) Seven Sisters to Subsea 7 for $84 million. The vessel is scheduled for delivery in March 2013. The sales proceeds will be allocated to repayment of mortgage debt of approximately USD 38 mil
Miclyn Express Offshore Ends Iranian Operations
Miclyn Express Offshore Limited has informed that it has ceased operations in Iran. The Company’s last three vessels and crew operating in the region ceased operations by the end of 2012 calendar year and were safely withdrawn over the course of the past week. The Company has said it has been consid
Norway’s Sevan Drilling Provides Rig Fleet Status Update
Norwegian drilling contractor, Sevan Drilling, today announced its fleet status update for December 2012. Sevan Driller rig achieved a technical uptime of 92.7% in December 2012. On 29 December Sevan Driller successfully completed the well it was drilling in the Santos basin and moved to Guanabara B