Fossil Energy
IEV Malaysia Receives LOA for Deepwater Installation Project
IEV Malaysia has received a Letter of Award (“LOA”) for a major transportation and installation project by an established oil and gas operator (“O&G Operator”) for a deepwater facility in the South East Asian region. “As the LOA is subject to a formal contract to be signed between the various partie
Accommodation Rig Contract Between Cosco and Axis Offshore Now Effective
The contract for delivery of one Harsh Environment Semi-Submersible Accommodation Rig, signed in September by COSCO Qidong Offshore Co., Ltd, with Axis Offshore, has been made effective at a value of over US$200 million. The new accommodation vessel is ordered by Axis Offshore to target the strong d
Offshore Oil and Gas Leases Questioned in Court (USA)
Center for Sustainable Economy has filed a lawsuit to halt the Obama Administration’s latest 5-year program to open new areas offshore to oil and gas leasing. “A lawsuit filed today could set far-reaching precedents that do away with inefficient offshore oil and gas drilling that creates more costs
BP Sells Yacheng Stake for $308 Mln (China)
BP today announced that it has agreed the sale of its 34.3 per cent interest in the Yacheng gas field in the South China Sea to Kuwait Foreign Petroleum Exploration Company (KUFPEC) for $308 million cash. Subject to regulatory, CNOOC and third party approvals, BP expects the deal to close in the sec
TAP Searching for Best Pipeline Route for Caspian Gas (Italy)
Trans Adriatic Pipeline (TAP) plans to start offshore surveys in the Adriatic Sea this winter. The goal is to collect additional data and samples to identify optimal offshore routing. TAP plans offshore surveys that will consist of various investigations along the proposed offshore pipeline route in
Bumi Armada Gets $276 Mln Loan to Pay for FPSO Expenses
Malaysia-based international offshore oil and gas services provider, Bumi Armada Berhad announced today that its jointly controlled entity, Armada D1 Pte. Ltd. (Armada D1) has secured syndicated term loan facilities of up to USD276.4 million (facility) from Allahabad Bank, Bank of Baroda, Bank of In
Oil & Gas UK Appoints New Operations Director
Oil & Gas UK has appointed Oonagh Werngren as the new operations director. She will join the team on 21 January 2013 and build on the work of Paul Dymond who retires from the post after ten years of excellent service. Oonagh Werngren is highly experienced in project delivery in the oil and gas indus
AMEC’s qedi Wins Valhall Decom Gig (Norway)
AMEC, the international engineering and project management company announces that subsidiary qedi, a market-leading oil and gas completions and commissioning services company, has been awarded a decommissioning management services contract for three platforms in BP Norway’s Valhall development. qedi
Intergraph SmartPlant Selected for Ichthys LNG Project (Australia)
Intergraph® SmartPlant® Enterprise has been selected by INPEX, operator of the Ichthys LNG Project in Australia. INPEX has implemented SmartPlant Enterprise solutions for the Ichthys LNG Project, including SmartPlant Enterprise for Owner Operators (SPO) as its information management system, SmartPla
Scana to Supply Riser Forgings to Australia and North Sea
Scana Industrier ASA has through its subsidiary Scana Subsea, been awarded contract to deliver machined riser forgings to an undisclosed client. The riser systems are intended for North Sea and Australia operations. The initial contract value is 27 MSEK (USD 4.09 million). The contract contains addi
Nexus Sells 2 Pct in Crux to Shell for $75 Million
Nexus Energy Limited (Nexus) advises it has provided to Shell Development (Australia) Pty Ltd (Shell) an Option Notice that will result in the disposal of 2% of Nexus’ 17% participating interest in the Crux AC/L9 development project in the East Browse Basin, off the coast of North West Australia for
Wartsila to Design Six Offshore Support Vessels for COSL
Wärtsilä, the marine industry’s leading solutions and services provider, has signed a contract with China Oilfield Services Ltd (COSL) to supply the designs for a total of six new ships. The two Platform Supply Vessels (PSVs) and four Anchor Handling Tug Supply (AHTS) vessels will initially provide
Total Hires Zagreb 1 Rig for Operations Off Libyan Coast
Croatia’s CROSCO has secured a contract for its semi-submersible drilling rig Zagreb 1. The rig has been hired by Total E&P Libye (TEPL) for offshore drilling operations in Libya. Zagreb 1 is scheduled to start drilling in Libya in early 2013. The contract includes drilling of two exploration wells
Pacific Drilling Extends Option for 8th Drillship
Pacific Drilling S.A. has reached an agreement with South Korea’s Samsung Heavy Industries to extend an option to construct an eighth ultra-deepwater drillship until January 18, 2013, on the same commercial terms, including delivery scheduled for the first quarter of 2015. Pacific Drilling currently