Contractors Unlimited

Industry Moves Archive:
June - December 2009

Maersk Oil Acquires Devon Assets in the Gulf of Mexico

The fully owned subsidiary of A.P. Møller - Mærsk A/S, Mærsk Olie og Gas A/S ("Maersk Oil"), has today through a US subsidiary entered into an agreement with Devon Energy Production Company, L.P. ("Devon") for Maersk Oil's purchase of Devon's interests in the Cascade, Jack and St. Malo fields in the Gulf of Mexico.
22/12/2009  More »

Total-Led Consortium Acquires 49% Interest in Algeria's Ahnet License

Total today announces that the consortium formed with Partex awarded a 49% interest in the Ahnet license, as part of the second bid round held by the Algerian National Oil and Gas Development Agency (ALNAFT).
22/12/2009  More »

Gazprom Hold Meeting on Gasification of Irkutsk Oblast

Irkutsk Oblast host celebrations dedicated to bringing onstream an inter-settlement gas pipeline from the Osinovka gas distribution station to the settlement of Gidrostroitel, Bratsk
21/12/2009  More »

Shell In Strategic Asset Swap with Hess

Shell acquire Hess Corporation's entire upstream portfolio in Gabon and its interest in the Clair field, which lies in British waters west of the Shetland Islands. In return, Hess to acquire Shell's interest in a pair of Norwegian offshore fields, Valhall and Hod.
21/12/2009  More »

J. Ray McDermott Acquires Interests in Subsea Construction Vessels

J. Ray McDermott announces completion of a vessel transaction with Oceanteam ASA for the subsea construction vessel, North Ocean 102 and new build vessel North Ocean 105.
21/12/2009  More »

Clough Curtain JV Receive Funding Release for PNG LNG

Engineering and construction company Clough Limited today announced that, as a result of the Final Investment Decision to proceed with the PNG LNG Project, funding has been released to allow the Clough Curtain Joint Venture to proceed with executing the full scope for the Upstream Infrastructure contract awarded on 1 May 2009.
21/12/2009  More »

Eni Sign Framework Agreement for Scientific Co-operation with Consiglio Nazionale delle Ricerche

Today, at Eni's office in Rome, the framework agreement between Eni and the Consiglio Nazionale delle Ricerche (CNR, the national council of researches) was signed for the start of a strategic co-operation in the field of scientific and technologic research.
21/12/2009  More »

Eni Executes Sale and Purchase Agreement for Acquisition of Heritage's 50% Interest in Blocks 1 and 3A in Uganda

Eni and Heritage sign Sale and Purchase Agreement for assignment of Heritage's 50% interest and operatorship in blocks 1 and 3A in Uganda, for a total amount of 1.35 billion US dollars, following the agreement reached last November by the two companies. An additional deferred consideration of US$150 million, in cash or assets, is also foreseen provided certain conditions are met in the future.
18/12/2009  More »

Jacobs Acquires TYBRIN

Jacobs Engineering Group acquires TYBRIN Corporation, a 1,500-person professional services firm headquartered in Fort Walton Beach, Florida, USA.
18/12/2009  More »

Foster Wheeler Announces Relocation of Operating Headquarters

Foster Wheeler's Board of Directors approves management's proposal to relocate the company's operating headquarters from Perryville, New Jersey to Geneva, Switzerland. The company will continue to remain domiciled in Zug, Switzerland.
17/12/2009  More »

Foster Wheeler Announces Senior Leadership Succession Plan

Foster Wheeler announced today that its Board of Directors has approved a senior leadership succession plan.
17/12/2009  More »

TNK-BP's Future Chief Plans to Increase Output

TNK-BP plans to keep expanding oil output even as the rest of the industry stagnates, thanks to a fat portfolio of new fields, said Maxim Barsky, who will run the venture. In his first interview with Western media since he was selected as chief executive, Mr. Barsky said TNK-BP has moved on since a bitter conflict between BP PLC and its Russian partners wracked the company last year.
17/12/2009  More »

Duke of York Voices Hope that Relations between TNK-BP Shareholders Can Become Global

The United Kingdom's special representative for international trade and investment, Prince Andrew the Duke of York, voiced hope during a meeting in TNK-BP's offices that relations between the oil company's Russian and British shareholders, like those between Russia and the UK, will in time become global.
17/12/2009  More »

CNOOC and BG Group Join Hands Again in South China Sea

China National Offshore Oil Corporation (CNOOC) sign production sharing contracts with BG Group for block 63/16 located in the Qiong Dong Nan basin of Western South China Sea.
16/12/2009  More »

Acergy Invest in New State-of-the-art Pipelay Ship for Operations in Deepwater and Harsh Environments Worldwide

Acergy S.A. announced today that it has acquired the Borealis, a strategic enabler, which is expected to drive superior returns for future activity. This differentiating asset, currently being built at the Sembawang Shipyard in Singapore, is a DP3 dynamic positioning vessel equipped with a 5,000T crane. Acergy plans to install a 1,000T J-Lay tower and state-of-the-art 600T S-Lay equipment.
16/12/2009  More »

Statoil Discover Gas Near Norne in the Norwegian Sea

Statoil discover gas two kilometres south-west of the Norne field in the Norwegian Sea during the drilling of exploration well 6507/3-8. A gas column 143 metres high was identified in the Fangst and Båt group of the Middle and Lower Jurassic, with good reservoir properties. The find is estimated to contain 1.3-1.5 billion standard cubic metres (scm) of recoverable gas.
16/12/2009  More »

Wood Group Opens New Office in Rio de Janeiro

Wood Group opens new office in Rio de Janeiro, Brazil. This new office will provide a broad range of Wood Group's services and products, including operations & maintenance, commissioning, and other technical services, to the Brazilian market.
15/12/2009  More »

Eni Starts Production of Oyo Oil Field in Nigerian Deep Offshore

Nigerian company Allied Energy Plc and Eni, through its affiliate Nigerian Agip Exploration, start the production of the Oyo oil field, located in the Niger Delta Deep offshore, about 75 kilometres off the Nigerian coast. Allied Energy and Eni hold 57.5% and 40% interests respectively, while Camac holds the remaining 2.5%.
15/12/2009  More »

Chevron Announces Natural Gas Find in Australia

Chevron Corporation, through its subsidiary Chevron Australia Pty Ltd, today announced an additional natural gas discovery in the Carnarvon Basin offshore Western Australia. The discovery is located in Australia's premier hydrocarbon basin, where Chevron is the leading leaseholder.
14/12/2009  More »

Exxon Mobil Corporation and XTO Energy Inc. Announce Agreement

Exxon Mobil Corporation and XTO Energy Inc. announced today an all-stock transaction valued at $41 billion. The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil's position in the development of unconventional natural gas and oil resources.
14/12/2009  More »

Royal Dutch Shell Confirms Intention To Take Up Woodside Share Offer

Woodside Petroleum Ltd, an Australian-listed exploration & production company focused on Australian LNG, announces an entitlement offer of new shares today.
14/12/2009  More »

Buildings Sustainability Specialist Fulcrum Consulting Joins Mott MacDonald

Fulcrum Consulting joins Mott MacDonald Group in move to expand Group's building design offering, especially in the area of sustainability. London-based Fulcrum is recognised at industry and government levels as one of the UK's leading providers of sustainable energy solutions for buildings and the built environment.
14/12/2009  More »

Scottish and Southern Energy Announces Marchwood Power Fully Operational

New 840MW combined cycle gas turbine power station at Marchwood, near Southampton, in which SSE has a 50% ownership interest, now available for full commercial operation. This is the UK's first large-scale new CCGT power station to enter commercial operation for five years.
11/12/2009  More »

Marathon Announces Signing of Sale Agreement for Working Interest in Angola Block 32

Marathon Oil today announced that following the exercise of a right of first refusal by Sociedad Nacional De Combustiveis De Angola, E.P., (SONANGOL), SONANGOL's wholly owned subsidiary, Sociedad Pesquisa E Producao, S.A.R.L., signed an agreement to purchase a 20 percent undivided working interest in Angola Block 32 from Marathon.
11/12/2009  More »

Wood Group Acquires Shanahan Engineering

Wood Group subsidiary acquires Shanahan Engineering, a provider of power plant installation, commissioning and maintenance services to the power and industrial sectors mainly in the Eastern Hemisphere.
10/12/2009  More »

TNK-BP Will Expand Its Investment Program Up to $4 Billion and Production by 2-2.5% in 2010

TNK-BP's investment program will be increased up to $4 billion in 2010, Viktor Vekselberg, Executive Director of TNK-BP, told journalists. Production growth of the company in 2010 will amount to 2-2.5%.
10/12/2009  More »

Shell Announces First Million Barrels of Oil from Ultra-deep Water off Brazil

Production now hit over one million barrels of oil at the Parque das Conchas fields 120 kilometres off the coast of Brazil, where ultra-deep water and a constant swell makes for tough operating conditions.
09/12/2009  More »

BG Group Provides Iara Drilling Update, Santos Basin, Brazil

BG Group (25%) and partners Petrobras (65% and operator) and Galp (10%) announce conclusion of formation test on the Iara well (1-BRSA-618-RJS or 1-RJS-656) in the BM-S-11 appraisal area in the Santos Basin pre-salt, offshore Brazil.
09/12/2009  More »

McDermott Plans to Separate Into Two Independent Companies: Babcock & Wilcox and J. Ray McDermott

McDermott International, Inc. ("McDermott" or "the Company") announced today that it plans to separate its operating subsidiaries, The Babcock & Wilcox Company ("B&W") and J. Ray McDermott, S.A. ("J. Ray"), into two independent, publicly traded companies.
07/12/2009  More »

SLP Holdings Enters Administration

SLP Holdings, parent company of UK offshore fabricator SLP Engineering, enteres administration. Stephen Oldfield, Chris Pillar and Mark Shires were appointed joint administrators of SLP Holdings Ltd and its subsidiaries (together 'SLP') on 27 November 2009.
03/12/2009  More »

SBC Signals Expansion with Strengthened Senior Management Team and New Office Openings

SBC, the management consultancy arm of Schlumberger, today announced the expansion of its global senior leadership team with the appointment of five vice-president level staff. Management team appointments made to help SBC meet its continually growing business and coincide with the launch of four new offices in New Delhi, Rio de Janeiro, Beijing and the Middle East (Abu Dhabi).
03/12/2009  More »

Petrofac Provides Don Southwest Update

Petrofac, the international oil & gas facilities service provider, and Operator of the Don development, provides the following update on the current rig intervention on the Area 22 well in the Don Southwest field.
03/12/2009  More »

Petrobras Granted Authorization for New Drilling in Pre-salt Region

Petróleo Brasileiro S/A (Petrobras) granted authorization by National Petroleum Agency, yesterday, to drill a well in the northern area of the Santos Basin pre-salt, contiguous to the Iara discovery, outside of the boundaries of the blocks for which they have already bid.
02/12/2009  More »

Sasol Joint Application with Statoil and Chesapeake Energy For Onshore Petroleum Exploration Right in South Africa

Sasol, through Sasol Petroleum International the wholly owned upstream oil and gas subsidiary of Sasol Limited, today announced a joint application with Statoil ASA and Chesapeake Energy Corporation for an onshore petroleum Exploration Right in South Africa. The Exploration Right application was officially submitted to the Petroleum Agency (SA) Ltd today and it is expected that it will take approximately 12 months to process.
01/12/2009  More »

Noble Denton Successful with Lukoil's Yuri Korchagin Project

Noble Denton successfully provided marine warranty services for the transportation and installation of two offshore platforms in the Yuri Korchagin oil field for Russian oil and gas company LUKOIL. In conjunction with Crane Marine Contractor Limited (CMC) based in Astrakhan, Noble Denton was assigned to supply technical expertise for the tow of the ice-resistant fixed platform, LSP-1 and LSP-2.
01/12/2009  More »

E.ON AG and Integra/KOM9 Consortium Complete Sale / Purchase of Thüga AG

Following approval by the relevant antitrust authorities, E.ON AG and Integra/KOM9, a consortium of local utilities, complete sale/purchase of Thüga AG, agreed in October.
01/12/2009  More »

TNK-BP May Increase Its Oil Export by 6% up to 38 Million Tons in 2010

TNK-BP may increase its oil export by 6% up to 38 million tons in 2010, Jonathan Kollek, Vice President, Sales, Trading and Logistics, TNK-BP. The company is going to export approximately 2 million tons of oil next year from the Verkhnechonskoe field.
01/12/2009  More »

Lundin Petroleum Spuds New Appraisal Well on PL338 Offshore Norway

Lundin Petroleum AB announces that drilling has commenced of the second appraisal well 16/1-13 on the Luno discovery located in Block 16/1, license PL338, on the North Sea sector of the Norwegian Continental Shelf. Objective of well 16/1-13 is to further appraise the Luno oil discovery made in 2007, a discovery confirmed by the initial appraisal well drilled in late 2008/early 2009 (well 16/1-10).
01/12/2009  More »

EnCana Closes Transaction to Split into Two Distinct and Independent Companies - Cenovus Energy and EnCana

EnCana Corporation today completed its transaction to split into two highly focused energy companies: Cenovus Energy Inc., an integrated oil company and EnCana Corporation, a pure play natural gas company.
30/11/2009  More »

ExxonMobil Chemical Announces Expansion at Its Rotterdam Aromatics Plant

ExxonMobil Chemical announces completion and start-up of an expansion at its Rotterdam Aromatics Plant. The expansion has made this world-scale plant ExxonMobil's largest paraxylene production facility. Paraxylene capacity at the plant increased by 25 percent to 700,000 tons, and benzene capacity increased by 20 percent to 830,000 tons per annum.
30/11/2009  More »

Gassi Touil Arbitration Proceeding Resolved Without Compensation for any Party

Arbitration award announced today resolved dispute between Repsol-Gas Natural and Sonatrach over termination of agreement for the Gassi Touil project awarded in 2004. The arbitration tribunal declared the agreement terminated in accordance with its terms, without either party having to compensate the other for the termination.
27/11/2009  More »

Repsol to Multiply its Production Sevenfold in Bolivia's Caipipendi Block

Repsol's Chairman, Antonio Brufau and Bolivia's president, Evo Morales, reach agreement in La Paz to develop the Caipipendi block, whose production will rise sevenfold during the next 5 years to reach a daily output of 14 million cubic meters. The block contains resources of 3.7 trillion cubic feet of gas for the developing consortium, which will be incorporated to the company's reserves in the coming months.
26/11/2009  More »

Aker Solutions Opens New Subsea Facility at Egersund Yard

Aker Solutions today officially opened new subsea facility at its yard in Egersund, west Norway. The new subsea hall will add another capacity to the yard. The first project to be undertaken in the subsea hall is the assembly and testing of the groundbreaking Ormen Lange subsea compression station pilot that Aker Solutions is developing for Statoil.
25/11/2009  More »

Eni Signs Cooperation Agreement with the Republic of Turkmenistan

Eni CEO, Paolo Scaroni, and the Director of The State Agency for Management and Use of Hydrocarbon Resources, Yagshygeldy Kakayev, signed today, in the presence of the President of the Republic of Turkmenistan, Gurbanguly Berdimukhamedov, and the Italian Prime Minister, Silvio Berlusconi, a Memorandum of Understanding to promote and strengthen cooperation in the development of Turkmenistan's petroleum industry.
25/11/2009  More »

Sasol and Gassnova SF sign MoU on Participation in Norwegian CO2 Technology Centre in Mongstad

Sasol and Gassnova SF, a Norwegian state-owned enterprise responsible for managing governmental interests related to Carbon Capture and Storage (CCS), today signed a Memorandum of Understanding (MoU) at the Union Buildings in Pretoria that will enable Sasol to explore the possibility of becoming a participant in the European CO2 Technology Centre Mongstad (TCM) currently under construction in Norway.
24/11/2009  More »

Zamil Group and Petrofac Establish New Joint Venture in Saudi Arabia

Petrofac establishes Joint Venture agreement with Zamil Group Holding Company to create and operate new service centre facility in the Kingdom of Saudi Arabia. The Company is expected to begin trading in early 2010. Petrofac's interests in the new venture will be overseen by its mechanical services operation, part of the Offshore Engineering & Operations business, which already operates similar facilities in the United Arab Emirates.
24/11/2009  More »

Melkøya Start-up Postponed

Technical challenges delay start-up of Hammerfest LNG plant in northern Norway. The current estimate is that production can resume in 14 days at the earliest. The Snøhvit facilities at Melkøya have been shut down this autumn for planned upgrading and maintenance. Running-in after the completion of the turnaround began on 7 November.
23/11/2009  More »

GE Oil & Gas Supports European Growth with New Global Services Facility in Montrose, Scotland

GE Oil & Gas enhances its European drilling and production equipment repair, maintenance and refurbishment capabilities with the official opening of a new Global Services facility in Montrose, Scotland. $5 million (£3 million) has been invested in the site. Located on existing premises established in 1982, the Montrose facility consolidates GE's previous drilling and production Services operations in Aberdeen, Scotland into one state-of-the-art technology location.
20/11/2009  More »

Woodside Update on Pluto LNG Project

Woodside completes most recent review of cost and schedule of the Pluto foundation project. Review concluded that the project is 82% complete and remains on schedule to deliver first gas from the Pluto field at the end of 2010 and first liquefied natural gas in early 2011.
20/11/2009  More »

Fluor Forms Offshore Alliance with COOEC

Fluor Corporation enters into formal alliance with Offshore Oil Engineering Corporation Ltd. (COOEC), a subsidiary of China National Offshore Oil Corporation Ltd. (CNOOC), in pursuit of large offshore oil & gas projects in the Asia-Pacific region including China and Australia.
19/11/2009  More »

Statoil Cleared by US in Iran Deal

Statoil today, 19 November, announced that the Deferred Prosecution Agreement the company entered into as a part of the settlement of the Horton case, has expired as scheduled.
19/11/2009  More »

Marathon Reinforces Business Strategy and Highlights Progress of Company's Growth Plans

Marathon Oil Corporation today provided investors with a comprehensive report on the Company's global operations, including a review of strategic plans to achieve profitable growth and competitive returns for shareholders.
19/11/2009  More »

Technip and Schlumberger Announce Joint Development Agreement

Technip and Schlumberger sign global cooperation agreement to jointly develop subsea integrity and surveillance solutions for flexible pipes used in deep offshore oil and gas production. Agreement is initially focused on surveillance systems activities for new and challenging flexible pipe applications such as those required in the deepwater pre-salt environment in Brazil.
19/11/2009  More »

Technip and Saudconsult to Establish an Engineering Center in the Kingdom of Saudi Arabia

Technip and SaudConsult today signed a memorandum of understanding in Paris to set up a 50/50 joint venture company aimed at developing a new engineering center in Saudi Arabia. Pending regulatory clearance and after completion of local incorporation processes, the new Company is expected to begin operations by mid 2010 with about 500 employees.
18/11/2009  More »

Chevron Statement in Response to Sanchez Testimony

In her testimony before the House Ways and Means Subcommittee on Trade earlier today, Congresswoman Sanchez mischaracterized Chevron's motivation for asking Congress to differentiate Ecuador in any extension of Andean Trade Preferences Act (ATPA) beyond its expiration at year end. Chevron is providing the following statement to be clear on its position on U.S. trade preference programs in general and Ecuador in particular.
17/11/2009  More »

BG Group and Petrobras Joint Santos Basin Gas Development

BG Group today announced signing of a Joint Venture Agreement with Brazilian oil company Petróleo Brasileiro SA (Petrobras) focused on developing Floating Liquefied Natural Gas as an additional option to commercialise the material associated natural gas reserves in the Santos Basin pre-salt, offshore Brazil.
17/11/2009  More »

AMEC Acquisition of GRD Finalised

AMEC announced today that its acquisition of GRD Limited (GRD) is now finalised. GRD today received Australian Federal Court approval for the acquisition by way of a scheme of arrangement following the shareholder approval obtained on 10 November 2009. All necessary approvals have now been obtained and the scheme is effective.
17/11/2009  More »

Appraisal Well Confirms Western Extension of the Kaskida Field in the Gulf of Mexico

BP today confirmed that an appraisal well to test a western extension of the Kaskida field has confirmed oil in Lower Tertiary reservoirs five miles to the west of the Kaskida discovery well. The well, drilled to a total depth of 32,500 feet, is located in Keathley Canyon block 291 in 5,675 feet of water and 250 miles southwest of New Orleans.
16/11/2009  More »

New Well Reinforces Tupi Potential, Santos Basin, Brazil

BG Group today confirmed that in the Santos Basin pre-salt, offshore Brazil, hydrocarbons had been encountered in a new well known as Tupi North-East (3-BRSA-755A-RJS or 3-RJS-662A) on block BM-S-11. Drilling on Tupi North-East has been concluded and drill stem tests to evaluate reservoir productivity will be conducted over the next few weeks.
13/11/2009  More »

Scottish and Southern Energy Policy on Development of Coal-Fired Power Stations

Scottish and Southern Energy plc ("SSE") is about to submit a planning application to Wakefield Metropolitan District Council to seek consent to develop the UK's biggest carbon dioxide capture trial facility at its Ferrybridge coal-fired power station near Castleford in Yorkshire.
11/11/2009  More »

Foster Wheeler Completes Acquisition of Assets from Atlas Engineering

Foster Wheeler's Global Engineering and Construction Group completes acquisition of majority of the assets of Atlas Engineering, Inc., a Houston-based firm engaged primarily in engineering design, project and construction management services for upstream oil and natural gas production and processing.
29/10/2009  More »

Suncor Energy Submits Regulatory Application for New Tailings Technology

Suncor Energy submits regulatory application for changes to the company's oil sands mining and extraction operations that target significant improvement in the speed of reclamation of oil sands tailings at the company's existing oil sands operations near Fort McMurray.
23/10/2009  More »

Repairs Underway at Suncor Energy Oil Sands Facilities

Suncor Energy Inc. reports that repair work following a minor fire at the company's oil sands facilities is underway with completion targeted by the end of October. The fire occurred October 12 during maintenance activities. There were no injuries.
15/10/2009  More »

Jacobs and OCP Announce Intent to Enter Joint Venture Agreement

Jacobs Engineering Group Inc. and Office Cherifien Des Phosphates (OCP) announced today their intent to enter into an engineering joint venture agreement. Officials did not disclose the terms of the agreement, which will remain confidential between the parties.
13/10/2009  More »

Suncor Energy Responds to Fire at Oil Sands Upgrader

Suncor Energy reports that repairs are underway following a minor fire at one of the company's two oil sands upgraders north of Fort McMurray, Alberta. The fire occurred today at approximately 3 a.m. during maintenance work on the plant.
12/10/2009  More »

New Renewable Energy Centre of Excellence in Scotland

Scottish and Southern Energy selects Glasgow as the location for its new Centre of Engineering Excellence for Renewable Energy (CEERE) in partnership with the University of Strathclyde. CEERE will manage the development, design, engineering, project management, procurement and asset monitoring of SSE's portfolio of onshore and offshore wind farms in Europe. SSE is in the second year of a five year investment programme that will see £3bn invested in renewable energy projects by 2013.
07/10/2009  More »

Shell and Halliburton Push the Limits of Extreme Well Conditions in Libya

Halliburton announce recent deployment of its new Hostile Sequential Formation Tester II (HSFT-II(TM)) tool. This latest formation evaluation tool allows operators to evaluate formations at increased pressures and temperatures, up to 30,000 pounds per square inch (psi) and 450°F, respectively, and in boreholes as small as four inches.
07/10/2009  More »

DNO International Restart Operations in Kurdistan Region of Iraq

Reference is made to DNO's Stock Exchange Notice dated 21 September 2009 in relation to the notice of the same date (the Notice) from the Kurdistan Regional Government (KRG) and the attached letter from the Ministry of Natural Resources (MNR) dated 5 October 2009. DNO has been in continuous discussions with the KRG over the past weeks to address the issues raised in the Notice.
06/10/2009  More »

Schlumberger Opens Reservoir Completions Manufacturing Centre in Saudi Arabia

Schlumberger open new reservoir completions manufacturing centre in Dammam, Kingdom of Saudi Arabia. The new centre, located in the Dammam Industrial City represents an investment of approximately $25M in state-of-the-art manufacturing equipment, facility lease and inventory and houses a team of design and manufacturing engineers specialising in the production of customised downhole reservoir completions equipment.
06/10/2009  More »

Wood Group Acquires Baker Energy

A subsidiary of John Wood Group PLC acquires energy services business (Baker Energy) of Michael Baker Corporation. The consideration was US$37.9m, settled in cash at completion. Baker Energy provides a broad range of operations and maintenance services to a large number of oil and gas operators, both onshore and offshore.
01/10/2009  More »

AMEC Joins Forces with HCC to Pursue Nuclear New-build in India

AMEC signs Memorandum of Understanding with Hindustan Construction Co. Limited (HCC), an engineering construction company in India. The strategic partnership will bring world-class design, safety and project/programme management experience to support the development of new civil nuclear projects in India. HCC has proven expertise and a successful track record in the Indian nuclear power sector, having constructed 50 per cent of India's nuclear power capacity.
30/09/2009  More »

National Oilwell Varco and Schlumberger Form IntelliServ Joint Venture

National Oilwell Varco and Schlumberger Limited create joint venture to provide high-speed drill string telemetry systems to improve the efficiency and safety of oil and gas operations. The IntelliServ joint venture is expected to accelerate development and delivery of intelligent drilling solutions through the expanded use of the IntelliServ® Broadband Network, a patented technology that provides high resolution data in real time to and from the bottom of oil and gas wells as they are being drilled.
28/09/2009  More »

Shell to Sell Downstream Assets in Greece

Shell agrees to sell its Downstream businesses in Greece to Motor Oil (Hellas) Corinth Refineries S.A. The deal, which is subject to competition authority clearance, follows a review by Shell of its Downstream businesses in the country and is consistent with the company's strategy to concentrate its global Downstream portfolio.
24/09/2009  More »

Total, GDF SUEZ, and Photovoltech Join IMEC's Silicon Solar Cell Research Program

Total and GDF SUEZ and their common solar cells manufacturing subsidiary Photovoltech join the IMEC industrial affiliation program on next generations of crystalline silicon solar cells. The multi-partner R&D program concentrates on sharply reducing the silicon use, whilst at the same time increasing the efficiency of solar cells. This will substantially lower the cost for solar energy.
21/09/2009  More »

Peter Jones's National Enterprise Academy Opens its Doors to Train Next Generation of Entrepreneurs

Young people now able to study for brand-new qualifications in enterprise and entrepreneurship as National Enterprise Academy (NEA), brainchild of Dragons' Den entrepreneur Peter Jones, and backed by Government, officially opens today. The NEA, the first-ever UK educational institution dedicated solely to enterprise and entrepreneurship, will pioneer a new and innovative way of teaching.
21/09/2009  More »

Lundin Petroleum Sells Its Interest in Ashirovskoye Field, Onshore Russia

Lundin Petroleum AB announces sale of its 50 percent indirect interest in CJSC Oilgaztet which holds the production license for the Ashirovskoye field, Orenburg region, onshore Russia. Lundin Petroleum sold the interest to the other shareholders of CJSC Oilgaztet for cash consideration of MUSD 4 million.
21/09/2009  More »

Acquisition of UKAEA Ltd by Babcock International Group

Babcock International Group PLC agrees to acquire UKAEA Ltd from the United Kingdom Atomic Energy Authority for a cash consideration of £50 million. UKAEA will have cash balances of approximately £12 million on completion. The transaction will complete when customary approvals are obtained.
18/09/2009  More »

Investment Extends Expro's Centre of Subsea Excellence

£1.2 million redesign and refurbishment of Expro's Aberdeen Churchill facility creates world-class subsea base to support the company's commitment to deliver operational excellence to its customers. Applying 'Lean' manufacturing principles, the project has seen major changes to the layout of the workshop at the company's premises in Dyce, Aberdeen.
17/09/2009  More »

BP Continues to Focus Wind Business on USA, Divests Indian Wind Assets

As BP continues to focus its wind business on its major development portfolio in the US, it today announced the sale of its wind power interests in India. Green Infra Limited has purchased BP's subsidiary, BP Energy India Private Limited (BPEIPL), which owns and operates three wind farms in India.
16/09/2009  More »

Marathon and Partners Announce First Oil from Volund Field Offshore Norway

Marathon Oil Corporation, through its wholly owned subsidiary Marathon Petroleum Company (Norway) LLC, today announced with its partners that Volund development offshore Norway achieved first production. The Volund field is expected to reach peak oil production of approximately 25,000 bpd gross (16,000 bpd net to Marathon), the timing of which is subject to available processing capacity on the Alvheim FPSO.
16/09/2009  More »

Gjøa Hull Safely Through Gulf of Aden

The hull of North Sea Gjøa platform is on its way to Norway from the Samsung shipyard in South Korea. At the weekend an EU naval force provided a military escort as the hull passed through the notorious Gulf of Aden where shipping has recently been subject to attacks by Somali pirates who hijack vessels.
15/09/2009  More »

Project Targets Fewer Carbon Emissions

StatoilHydro is part of an important new field research and pilot project that is testing technology with the potential to reduce water use and carbon dioxide emissions at its Leismer oil sands in situ project in Alberta, Canada. The steam-solvent co-injection project is in partnership with the Petroleum Technology Research Centre in Regina, Saskatchewan.
11/09/2009  More »

E.ON's Robin Rigg Wind Farm Produces First Power

Power produced for the first time today at E.ON's Robin Rigg wind farm, in the Solway Firth off the coast of Scotland. It marks an important milestone for UK offshore wind generation. On its completion later this year, Robin Rigg will produce 180 MW of renewable power and will be one of the UK's largest offshore wind farms.
10/09/2009  More »

Proprietary Technology Helps Extract More Oil

New drilling and well technology developed by StatoilHydro and FMC Technologies will improve oil recovery from subsea fields. The technology has now been successfully tested on the Åsgard field in the Norwegian Sea. One of the measures to extract more oil from the fields is to drill more wells, but drilling subsea wells is expensive.
10/09/2009  More »

Chevron Secures Multiple Sales Agreements for Gorgon LNG

Australian subsidiaries of Chevron sign three binding long-term Sales and Purchase Agreements for Chevron's share of liquefied natural gas from the Gorgon project. Agreements are for a total supply of nearly 3 million tons per annum (MTPA) of LNG to Osaka Gas, Tokyo Gas, and GS Caltex.
10/09/2009  More »

Total Acquires Stake in Tobermory Discovery

Total affiliate, Total E&P UK Limited, enters into agreements with Mobil North Sea LLC, Marathon Oil U.K., Ltd. and Anadarko North Sea Holding Company Limited to acquire a 43.75% stake in UK Licence No. P967, which includes the Tobermory discovery. Total E&P UK will become the operator of the licence.
09/09/2009  More »

ExxonMobil Progresses Point Thomson Project Development

ExxonMobil Production Company completes drilling and casing surface section on second well at Point Thomson. The well reached its target surface-section depth of 4,875 feet. Both wells are planned to be completed to their final depths by year end 2010.
09/09/2009  More »

Qatargas 2 Train B Starts LNG Production

Total announces that Train B of the Qatargas 2 project started producing liquefied natural gas (LNG) on September 7, 2009. Train B, in which Total holds a 16.7% interest alongside the state-owned company Qatar Petroleum (65%) and ExxonMobil (18.3%), is one of the two trains that compose the Qatargas 2 project and has a production capacity of 7.8 million tons per year (Mt/y).
09/09/2009  More »

Nexen Announces Golden Eagle Area Resource Size and Step-out Development Success at Scott/Telford

Nexen continues its significant growth in the UK North Sea, announcing the discovery of substantial additional resource and the start up of new production.
03/09/2009  More »

Suncor Energy on Track to Realise Efficiency Targets From Merger With Petro-Canada

Suncor Energy Inc. on track to meet or exceed operating and capital efficiency targets following the company's merger with Petro-Canada. Suncor and its UK subsidiary issued a proposal that responsibility for managing the company's international and offshore business will move to Calgary from London.
03/09/2009  More »

BP Announces Giant Oil Discovery In The Gulf Of Mexico

BP announced today a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico. The well, located in Keathley Canyon block 102, approximately 250 miles (400 kilometres) south east of Houston, is in 4,132 feet (1,259 metres) of water. The Tiber well was drilled to a total depth of approximately 35,055 feet (10,685 metres) making it one of the deepest wells ever drilled by the oil and gas industry.
02/09/2009  More »

Transocean's Ultra-Deepwater Semisubmersible Rig Deepwater Horizon Drills World's Deepest Oil and Gas Well

Transocean Ltd. today announced that its ultra-deepwater semisubmersible rig Deepwater Horizon recently drilled the deepest oil and gas well ever while working for BP and its co-owners on the Tiber well in the U.S. Gulf of Mexico. Working with BP, the Transocean crews on the Deepwater Horizon drilled the well to 35,050 vertical depth and 35,055 feet measured depth (MD), or more than six miles, while operating in 4,130 feet of water.
02/09/2009  More »

BG Group Completes UK North Sea Asset Exchange with BP

BG Group complete an exchange of equity interests in certain North Sea production assets with subsidiaries of BP plc. With effect from midnight 31 August, 2009, BG Group acquired BP's entire equity in the Everest, Lomond and Armada fields and part of BP's equity in the Erskine field, operated by Chevron. In return, BG Group transferred all of its equity interests in all fields in the Southern North Sea to BP.
01/09/2009  More »

Venture Production Notes Offer by Centrica Resources (UK) Limited Declared Wholly Unconditional

On 25 August 2009, the Board of the Venture Production announced that it recommends that shareholders accept the Centrica Offer once it is declared wholly unconditional ('Recommendation Announcement'). The Board of the Company notes the announcement made by Centrica today declaring the Centrica Offer wholly unconditional, consequently shareholders are recommended to accept the Centrica Offer as the Directors intend to do in respect of their own beneficial holdings amounting to 9.89% of the issued share capital of the Company.
27/08/2009  More »

Mustang Invests In Saudi Arabian Engineering Business

Mustang International, LP, part of John Wood Group PLC, to acquire majority interest in Al-Hejailan Consultants' business through a newly established joint venture, Mustang Al-Hejailan Engineering. Al-Hejailan Consultants, which is injecting its gross assets of approximately $11m at June 30, 2009, will retain the remaining interest. Upon completion later this year, Mustang Al-Hejailan Engineering will provide engineering and project management services to Saudi Arabia's oil & gas and chemical industries
25/08/2009  More »

Venture Production Recommend Acceptance of Offer From Centrica

Centrica Resources (UK) Limited ('Centrica') made final cash offer to acquire the entire issued (and to be issued) share capital of Venture Production ('Venture'), not already held by it, at an offer price of 845 pence per share (the 'Offer'). On 21 August 2009 the Offer became a mandatory cash offer. The Board of Venture continues to believe that Centrica's final offer substantially undervalues Venture. However, the Board recognises that, in the event that the Offer is declared wholly unconditional, Centrica will have control of Venture.
25/08/2009  More »

Mandatory Cash Offer by Centrica for Venture Production as Centrica Achieves 58.7 per cent Level

Since its announcement of this morning, Centrica Resources has acquired, subject to settlement, an additional 12,566,274 Shares representing approximately 8.4 per cent. of the existing issued share capital of Venture, at 845 pence per Share. Accordingly, Centrica Resources has acquired, subject to settlement, 25,172,737 Shares in aggregate today. As a result, Centrica Resources now owns or has acquired, subject to settlement, a total of 72,559,965 Shares representing approximately 48.4 per cent. of the existing issued share capital of Venture.
24/08/2009  More »

Mandatory Cash Offer by Centrica for Venture Production as Centrica Achieves 50.3 per cent Level

Centrica Resources acquires, subject to settlement, a further 12,606,463 Shares, representing approximately 8.4 per cent. of the existing issued share capital of Venture, at 845 pence per Share. As a result, Centrica Resources now owns or has acquired, subject to settlement, a total of 59,993,691 Shares representing approximately 40.1 per cent. of the existing issued share capital of Venture.
24/08/2009  More »

Glendoe Hydro Electric Scheme Blockage Identified

Scottish and Southern Energy identify partial blockage caused by internal rock falls near the top of the tunnel carrying water from the reservoir to the power station at its Glendoe hydro electric scheme. Tunnel has been drained and SSE, working with its principal contractor and others, will undertake a detailed investigation of its entire length and then start work on the necessary repairs.
17/08/2009  More »

Venture Production Announces Posting of its Independent Asset Valuation Circular to Shareholders

Board of Venture Production plc announces that it is today posting a circular to shareholders which contains an independent valuation of Venture's assets by Resource Investment Strategy Consultants.
04/08/2009  More »

New report: 'Recession Sparks Innovation'

Economic crisis forces business leaders to make tough strategic decisions but has also sparks more innovative ways of working. Preliminary findings in an oil and gas industry research project, 'Riding the Rapids', reveal some companies are using the recession to strip back excess and trim payrolls but benefits include defining better ways of doing business.
03/08/2009  More »

Fluor Forms Consortium with Global Industries to Pursue Offshore Projects

Fluor Offshore Solutions joins forces on an exclusive basis with Global Industries, Ltd., an offshore construction firm, to pursue offshore oil & gas projects in the Middle East and North Africa region.
03/08/2009  More »

Venture Production Advises Shareholders To Reject Centrica Resources (UK) Limited's Offer

Board of Venture Production plc announces that it is today posting a circular to shareholders explaining why it believes shareholders should reject Centrica Resources (UK) Limited's offer.
24/07/2009  More »

Nexen Announces Strategic Review of Marketing Business

Nexen is reviewing strategic alternatives for its natural gas and power marketing businesses, which may include the sale of all or part of these businesses. We have selected an advisor to assist with this initiative to continue the alignment of our ongoing marketing activities with our upstream oil and gas business.
23/07/2009  More »

AMEC Agreement to Acquire Australian Resources Engineering and Project Development Company GRD Limited

AMEC signs agreement for acquisition of Australian engineering and project development company GRD Limited (GRD), by way of a scheme of arrangement. Total consideration for the transaction, which has been unanimously recommended to GRD shareholders by the Board of GRD, will be A$106 million (£52 million) in cash, funded from existing AMEC cash balances. GRD is an ASX listed engineering company based in Perth, Australia, which employs 850 people globally.
20/07/2009  More »

Production Start-up of Tyrihans Oil and Gas Field in the Norwegian Sea

Total announces Tyrihans oil and gas field in the Norwegian Sea started production. This field, in which Total owns a 23.18% interest, is the largest field to be brought on stream in Norway in 2009.
08/07/2009  More »

PSN Invention Honours Piper Alpha Anniversary

PSN's principal structural engineer, Dr Farzin Keshmiri, invents technique that significantly improves safety of offshore platform 'blast walls'. This innovation offers a dramatic improvement to offshore safety and builds on key findings detailed in The Cullen Enquiry, set up to establish the cause of the Piper Alpha disaster.
06/07/2009  More »

Scottish and Southern Energy Electricity Generation and Gas Storage Update

Scottish and Southern Energy provide update of its operations and investment opportunities in electricity generation, and gas storage, to coincide with the official opening this week of its new development at Glendoe, the UK's first large-scale conventional hydro electric station for over 50 years.
01/07/2009  More »

Gazprom and Nigerian National Petroleum Corporation Sign Agreement on Setting Up Joint Venture

As part of the official visit by Dmitry Medvedev, President of the Russian Federation to the Federal Republic of Nigeria on 24 June, Gazprom and the Nigerian National Petroleum Corporation signed an Agreement on setting up a joint venture on a parity basis.
25/06/2009  More »

Venture Production Acquire Shares in NOGAT B.V.

Venture Production agrees to acquire Lundin Petroleum B.V.'s entire 1.8% shareholding in NOGAT B.V. for cash consideration of Euros 9 million payable at completion. NOGAT B.V. is a private company incorporated in the Netherlands.
23/06/2009  More »

Total Exercises Pre-emptive Rights Over Shares Offered for sale of Vlissingen Refinery by Dow Chemical

Total, the majority shareholder (55%) of the Vlissingen refinery, exercised its pre-emptive rights over the shares (45%) of this asset that were offered for sale by Dow Chemical.
19/06/2009  More »

Venture Welcomes Takeover Panel Deadline

Venture Production plc welcomes today's announcement by Takeover Panel Executive that it has imposed a deadline of 5.00pm on 13 July 2009, by which Centrica plc must, unless the Takeover Panel Executive consents otherwise, either announce a firm intention to make an offer for Venture under Rule 2.5 of the Takeover Code or announce that it does not intend to make an offer for Venture.
17/06/2009  More »

Aker Solutions Opens New Manufacturing Facility in Pickering, Ontario, Canada

Aker Solutions has opened its new 90,000 square foot state-of-the-art manufacturing facility in Pickering, Ontario, Canada. The new facility will allow Aker Solutions to capitalise on market demand for fabrication of its proprietary equipment for acid plants, by more than doubling its production capacity.
15/06/2009  More »

Shell Settles Wiwa Case

Shell today agreed to settle court case in New York related to allegations in connection with the Nigerian military government's execution of Ken Saro-Wiwa and others in 1995, making a humanitarian gesture to set up a trust fund to benefit the Ogoni people.
08/06/2009  More »

Gazprom and StatoilHydro Sign Memorandum of Understanding

Gazprom and StatoilHydro sign Memorandum of Understanding in St. Petersburg on the sidelines of the XIII International Economic Forum. The document envisages that both companies jointly engage in geological exploration, development and production of hydrocarbon resources in northern regions.
05/06/2009  More »

Aker Solutions Sets Up Geo Business in Australia

Aker Solutions expands its subsea and subsurface service offering in Australia by establishing its geo business in the country. The move is part of Aker Solutions' strategy to function as a lifecycle partner, throughout the lifetime of subsea oilfields, for oil companies operating in and offshore Australia.
04/06/2009  More »

AMEC Acquires Quebec Geotechnical and Environmental Consultancy

AMEC purchases assets and ongoing operations of Journeaux, Bédard & Assoc. Inc. (JBA) for Cdn$3.7 million. JBA is a 20-person geotechnical, mining and environmental engineering consultancy located in Montreal, Quebec.
03/06/2009  More »

Scottish and Southern Energy To Acquire Slieve Divena Phase II Wind Farm Project

Scottish and Southern Energy plc, through its renewable energy development division, Airtricity, enters into an agreement to acquire Slieve Divena Phase II wind farm project in Country Tyrone, Northern Ireland, from RES UK & Ireland Ltd.
03/06/2009  More »

Aker Solutions Granted Engineering License in China

Aker Solutions receives engineering license from Chinese government authorities, granting the company's subsidiary Aker Projects (Shanghai) Co., Ltd., permission to undertake engineering design for China-based projects in the chemical, petrochemical and pharmaceutical industries.
02/06/2009  More »

Jacobs Completes Purchase of Share in AWE Management Limited

Jacobs Engineering Group completes purchase of a one-third share in AWE Management Limited (AWEML) from British Nuclear Fuels Limited (BNFL). AWEML, a company founded in 2000, is a joint venture between Jacobs, Lockheed Martin and Serco to manage the Atomic Weapons Establishment on behalf of the U.K. Ministry of Defence.
02/06/2009  More »



Obtain a quote. It's a simple process and policy documents are delivered by email within minutes.


Advertising || About Us || Contact Us || Search || Legal || Tell a Friend
© Copyright 2009. All rights reserved