Apache Corporation today reported that record production and strong oil prices combined to generate record full-year 2011 earnings of $4.5 billion or $11.47 per diluted common share, up 50 percent from $3 billion or $8.46 per share in 2010. Production increased 14 percent to 748,000 barrels of oil e
ConocoPhillips annonces that it has entered into an agreement to sell its Vietnam branch for a total of $1.29 billion plus customary working capital adjustments. The U.S. oil giant has entered into definitive agreements with Perenco to sell its three wholly-owned subsidiaries that separately hold it
Looking ahead to 2012, Technip, one of the world’s largest provider of specialized services for the oil and gas industry, said today that the company’s clients show confidence in oil and gas prices and continue investing to meet challenging production targets. Success in their exploration programs,
The newly appointed CEO of Petrobras, Maria das Graças Silva Foster, welcomed the Prime Minister of Finland, Jyrki Katainen, at the Company’s headquarters in Rio de Janeiro yesterday (Feb. 15). The Scandinavian nation is seeking opportunities for its industry as a supplier of goods and services to P
Gazprom chairman Alexey Miller, held a meeting on the South Stream project implementation. Taking part in the meeting were Leonid Chugunov, Head of the Project Management Department, Pavel Oderov, Head of the International Business Department, and Marcel Kramer, Chief Executive Officer of South Stre
Norway’s Solstad Offshore (SOFF), a ship owner focused 100% towards the offshore petroleum industry, has been awarded the prize for being the best training company of the year.Solstad Offshore has been a member and an important contributor to the Maritime Training Agencies since the office was creat
Estaleirao Alianca Shipyard from Rio de Janeiro, Brazil, has delivered the platform supply vessel ‘CBO Atlântico’ to its owner CBO (Companhia Brasileira de Offshore) . The CBO Atlântico is the first of six ULSTEIN designed X-BOW® vessels to be built in Brazil, and the very first of the PX106 design.
Statoil has awarded Aker Solutions a contract for delivery of six subsea trees and a tool package for Troll field on the Norwegian continental shelf. Estimated contract value is NOK 350 million (USD 60.2 million). Under the contract, Aker Solutions will suppy six subsea trees, with a possible option
Hornbeck Offshore Services, a company which has recently entered one of the largest newbuild programs in the market of offshore vessels, announced yesterday that Nicholas L. Swyka has been appointed to its Board of Directors (the “Board”), effective February 14, 2012. In connection with Mr. Swyka’s
Tap Oil Limited (Tap) has appointed Dr Douglas Schwebel to its Board of Directors effective on this day, 16 February 2012. Dr Schwebel has over 30 years experience in the resources sector, having held various senior executive positions with ExxonMobil, including Exploration Director for its Australi
Emerson Process Management has been awarded a multi-million-dollar contract to automate a new offshore platform in the Azerbaijan sector of the Caspian See, by the BP operated Azerbaijan International Operating Company (AIOC). The Chirag Oil Project, to be completed in 2013 and operated by BP Azerba
Helix Energy Solutions Group, Inc. announces that it is proceeding with the construction of a newbuild semisubmersible well intervention vessel. Owen Kratz, Helix’s Chairman and CEO, stated, “We are leveraging our market and technological leadership in subsea well intervention along with the proven
Nautronix has won the Innovation and Technology Award, sponsored by Simmons & Company International for their NASeBOP (Nautronix Emergency BOP Acoustic Control) System at the Annual Subsea 2012 Business Awards. This prestigious award is a major achievement in recognition for the advancements made th
Australia’s Santos yesterday reported a gas discovery offshore Bangladesh, explaining that Sangu-11 has penetrated a new gas reservoir in the Sangu area with approximately 20 metres of good quality gas pay. The well will be completed and tied into the Sangu facilities and will provide incremental ga
