Fossil Energy
Seadrill Ups Its Stake in Asia Offshore Drilling Limited
One of the largest drilling contractors in the world, Seadrill Limited, has increased its ownership in Asia Offshore Drilling Limited. The drilling contractor today bought additional 38,961 shares of Asia Offshore Drilling Limited at a price of NOK 28.71 per share (USD 5.0). Following the acquisitio
Afren: First Oil Flows from Okoro Field Extension (Nigeria)
First oil has started flowing from Afren plc’s Okoro Field Extension, offshore south east Nigeria, at a stabilised rate of 5,000 bopd of 38° API oil, increasing total output from the Okoro area to approximately 21,500 bopd. The Okoro-14 (Okoro Field Extension) development well was drilled by Afren a
Bumi Armada Takes Delivery of Accommodation & Work Barge (Malaysia)
Malaysian ship owner Bumi Armada yesterday took delivery of Armada Hibiscus vessel, from Sam Jung Holdings Limited. Armada Hibiscus, previously known as GSP Bigfoot 3, is a 100m, 300-man accommodation work-barge with a gross weight of 10,650 tons, that was built by Oriental Precision Engineering in
Miller Energy Completes Work-Over on Cook Inlet Well, Alaska
Miller Energy Resources has successfully completed a work-over on the RU-1 crude oil well with newly commissioned Rig 35 on the Osprey platform in Alaska’s Cook Inlet. The work-over consisted of removing two failed electric submersible pumps (“ESP”) and several restrictive flow devices, followed by
Hallin Marine Completes Natuna Field SURF (Indonesia)
Hallin Marine, a Superior Energy Services company, has completed a SURF (subsea infrastructure, umbilicals, risers and flowlines) project at the Natuna gas field in the Greater Sarawak Basin. Valued at approximately US$ 3 million, the project centred on the deployment of Hallin’s DP2 SOV Ullswater t
Contango Bites Dust at South Timbalier Well (USA)
Contango Oil & Gas Company announced today that it has reached total depth on its South Timbalier 75 prospect (Fang) and no commercial hydrocarbons were found. The Company will proceed to plug and abandon the well. The Company expects to incur approximately $23.0 million to drill, plug and abandon t
GL Noble Denton Seeks Oil Professionals’ Opinion on the Industry Outlook
GL Noble Denton has called upon hundreds of oil and gas sector professionals to contribute to a comprehensive new research programme investigating the issues the industry is expected to encounter in 2013. Working in association with independent partner Longitude Research, GL Noble Denton has invited
Det Norske: Oil Presence Confirmed at Espever High (Norway)
Det norske oljeselskap ASA today announced that core samples confirmed oil presence in appraisal well 16/2-14 (PL 265), in the Norwegian sector of the North Sea. The well is being drilled with Ocean Vanguard rig on the Espever High, which is part of the Johan Sverdrup field. “Drilling operations in
Cobalt Announces 3Q Net Loss of $39 Mln (USA)
Houston-based Cobalt International Energy, Inc. today announced a net loss of $39 million, or $0.10 per basic and diluted share, for the third quarter of 2012, compared to a net loss of $47 million, or $0.12 per basic and diluted share, for the third quarter of 2011. Total expenditures (excluding ch
Lundin Gets Approval to Start Production Testing at Johan Sverdrup
Norway’s oil safety watchdog has given its approval to Lundin Petroleum for the use of Bredford Dolphin rig at the Johan Sverdrup discovery in the North Sea. Lundin Norway, a subsidiary of Swedish oil company Lundin Petroleum will use the Aker H-3 type semi-submersible rig for drilling and productio
Chevron Orders GE Production Systems for Lianzi Project
GE Oil & Gas today announced it has received a £102 million (US$165 million) contract to supply production equipment to Chevron’s Lianzi project, situated offshore between Angola and the Republic of Congo. GE will provide a range of technologies to enable EPC (engineering, procurement and constructi
BP Reports 3Q Income Increase. Lifts Dividend by 12.5%
BP today announced its financial results for the third quarter of 2012, reporting underlying replacement cost profit, adjusted for non-operating items and fair value accounting effects, of $5.2 billion, a 40% increase on previous quarter. The British oil giant also announced an increase in its quart
ABS Establishes Korea Energy Technology Center
Leading classification society ABS officially inaugurated the ABS Korea Energy Technology Center (KETC) in Busan, South Korea, on 19 October 2012. ABS President and CEO Christopher J. Wiernicki joined senior representatives of the Korean shipping and shipbuilding sectors and academia to celebrate th
Afren Extends FPSO Contract (Nigeria)
Afren Energy Resources Limited has exercised the first of the 5 one year extensions from the original contract for the FPSO Armada Perkasa with effect from 1 July 2013, the Malaysia-based Bumi Armada announced last week. The contract extension for the Bumi Armada-owned FPSO, which has been operating