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Friday, 3 July 2015

Subsea 7 installs world's first subsea wet gas compressor at Statoil's Gullfaks platform

After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Statoil's Gullfaks C platform in the North Sea. More »

4Subsea receives research grant for corrosion in flexible pipes

The Research Council of Norway has through the “Petromaks 2” program has awarded 4Subsea funding for a research initiative on corrosion in flexible pipes. More »

BP’s spill deal is ‘catalyst’ for acquirers as uncertainty ends

BP’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target. More »

Indian tycoon plans to invest $2.5 billion in Brazil oil and gas

Videocon Industries Ltd., an Indian maker of consumer electronics with ambitions to become a major energy producer, plans to invest as much as $2.5 billion over three years in Brazilian oilfields, Chairman Venugopal Dhoot said. More »

Millions from BP settlement to benefit Texas Gulf Research

With Thursday’s announcement that BP has settled federal, state and local claims related to the 2010 Deepwater Horizon oil spill for a total of more than $18.7 billion, leaders with Texas’ RESTORE Centers of Excellence are moving forward with plans to use millions in spill-related Clean Water Act funding on research and science activities that will benefit Texas and help to restore the health of the Gulf of Mexico. More »

Lundin gains increased unitized interest in Johan Sverdrup

Lundin Petroleum has announced that the Norwegian Ministry of Petroleum and Energy has determined the allocation of resources in the Johan Sverdrup oil field and has decided to increase the unitized interest for Lundin Petroleum from 22.12 to 22.6%. More »

ION launches MexicoSPAN in Mexico’s offshore Gulf waters

ION Geophysical Corporation has launched the first phase of MexicoSPAN, encompassing more than 22,000 km of deep-imaged 2D seismic data. More »

Oil oversupply meets rising demand in quietest market since 2013

The sleepiest oil market since 2013 will probably limp through the second half of the year as well. More »

Shale boom shows resilience as rigs rebound with oil under $60

For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price. More »

Thursday, 2 July 2015

Mexico unveils licensing plan to add million barrels output

Mexico plans to auction 914 onshore and offshore oil areas in the next five years as the historic opening of the country’s energy industry aims to add 1 MMbbl of production by 2025. More »

Drillers boost U.S. oil rigs for first time in 30 weeks

Drillers put rigs in U.S. oil fields back to work for the first time since December, driving down crude futures on speculation that an unprecedented retreat from the country’s prolific shale formations is ending. More »

PetroRio buys Petrobras’ stake in Bijupirá, Salema fields

Petro Rio S.A. has signed a purchase and sale agreement to acquire 20% of the rights and obligations of the concession contracts for Bijupirá and Salema (BJSA) fields with Petrobras. More »

Hess completes Bakken midstream sale, establishes joint venture

Hess has completed the sale of a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for a cash consideration of $2.675 billion, the company announced Wednesday. More »

BP pays record $18.7 billion to settle Macondo claims

BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill. More »

BP said to settle Macondo spill claims with U.S., states

BP Plc reached an agreement with states and the U.S. in the 2010 Gulf of Mexico oil spill case, according to a person with knowledge of the matter. More »

CIS Group completes subsea piling operation in North Sea

Conductor Installation Services (CIS) has completed a subsea piling operation for Subsea 7 in the UK North Sea. More »

PGS inks Mexico cooperation agreement with Spectrum, Schlumberger

PGS has executed an MOU for a cooperation agreement with Spectrum and Schlumberger in Mexico. The collaboration will acquire 80,000 to 100,000 km of modern, long-offset 2D data encompassing all the major hydrocarbon provinces offshore Mexico. More »

Summit ESP launches Sentry Well Surveillance service

Summit ESP has launched its Sentry(SM) Well Surveillance services, a real time Electrical Submersible Pump and Optimization Service. More »

Summit ESP launches Sentry Well Surveillance and Optimization Service

Summit ESP has launched its Sentry(SM) Well Surveillance services, a real time Electrical Submersible Pump and Optimization Service. More »

Elk-Antelope joint venture selects LNG project sites

InterOil Corporation and the PRL 15 joint venture participants have unanimously endorsed recommendations from Total SA for key project infrastructure sites for development of Elk-Antelope gas field in Papua New Guinea. More »

CIS Group completes subsea piling operation in North Sea for Subsea 7

Conductor Installation Services Ltd. (CIS) has successfully completed a subsea piling operation for Subsea 7 in the UK North Sea. More »

Emerson improves offering with Yggdrasil acquisition

Emerson Process Management has acquired Norwegian company Yggdrasil, a provider of flow assurance and production optimization software. More »

Aqualis Offshore to open South Korea office

Offshore marine and engineering consultancy Aqualis Offshore is to open an office in Busan, South Korea, following increased demand for the company’s services. More »

China wary of closer Russia energy ties, ex-Cnooc economist says

China is wary of expanding energy investments in Russia because closer ties with the Kremlin could harm its relations with the U.S., according to a former researcher at China’s biggest offshore explorer. More »

Oil steady after biggest drop since April as U.S. supplies rise

Oil was steady after the biggest decline since April as an unexpected gain in U.S. crude stockpiles signaled a supply glut may persist. More »

Petroleum Geo-Services inks Mexico 2D cooperation agreement with Spectrum, Schlumberger

PGS has executed an MOU for a cooperation agreement with Spectrum and Schlumberger in Mexico. The collaboration will acquire 80,000 to 100,000 km of modern, long-offset 2D data encompassing all the major hydrocarbon provinces offshore Mexico. More »

Global Maritime Group bags mooring and rig move contract for Quadrant Energy

Global Maritime Deep Sea Mooring has been awarded a contract for the provision of mooring and rig positioning services to the Australian oil and gas company Quadrant Energy Ltd. More »

EMGS inks 3D EM data licensing agreements in Barents Sea

Electromagnetic Geoservices (EMGS) has entered into two new data licensing agreements for the provision of 3D EM data from EMGS' multi-client data library in the Barents Sea. More »

Freudenberg acquires BlueSky Process Solutions

The Freudenberg Oil and Gas Technologies group has acquired the business of Canada's BlueSky Process Solutions Ltd., effective Jun. 30. More »

Shale drillers lose most-precious asset -- the $90 hedge

The insurance protecting shale drillers against plummeting prices has become so crucial that for one company, SandRidge Energy Inc., payments from the hedges accounted for a stunning 64% of first-quarter revenue. More »

Wednesday, 1 July 2015

Shell moves ahead with deepwater Appomattox development in Gulf of Mexico

THE HAGUE -- Royal Dutch Shell has announced the final investment decision (FID) to advance the Appomattox deepwater development in the Gulf of Mexico. This decision authorizes the construction and installation of Shell’s eighth and largest floating platform in the Gulf of Mexico. More »

Canada announces appointment of new member to the NEB

The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, has announced the appointment of Dr. Murray Lytle as a full-time member of the National Energy Board (NEB) for a term of seven years. More »

Applus+ awarded trio of contracts on Ichthys LNG project

Applus+ has been awarded a trio of contracts worth $17.35 million (AUS$22.5 million) for work on the Ichthys LNG Project’s onshore LNG facilities. More »

Oklahoma woman blaming fracing for quake can sue oil firms

New Dominion LLC can be sued by an Oklahoma woman injured when her fireplace fell on her during an earthquake that she blames on disposal wells tied to fracking. More »

Canada’s NEB approves Quicksilver's LNG export license

Canada’s National Energy Board (NEB) has approved the application of Quicksilver Resources Canada Inc. for a 25-year natural gas export license with a maximum term quantity of 733 Bcm. The issuance of this license is subject to the approval of the Governor in Council. More »

Fugro finalizes divestment of multi-client data library

LEIDSCHENDAM, Netherlands -- Fugro has finalized the sale of its multi-client data library to Spectrum ASA, for a cash consideration of $115 million. More »

FEED phase entered for Browse FLNG development, Woodside says

Woodside, as a participant in the Browse FLNG Development, advised Wednesday that an agreement has been reached to enter the front-end engineering and design (FEED) phase for the proposed development. More »

Statoil suspends Scarabeo 5 on overcapacity

Statoil has decided to suspend Scarabeo 5 due to overcapacity in its rig portfolio, the company announced Wednesday. More »

Statoil suspends Scarabeo 5 semisubmersible on overcapacity

Statoil has decided to suspend Scarabeo 5 due to overcapacity in its rig portfolio, the company announced Wednesday. More »

Wood Group wins onshore pipeline work for Origin Energy

Wood Group has secured a $1-million contract with Origin Energy to provide detailed design engineering for the onshore pipelines related to the Halladale, Black Watch and Speculant (HBWS) Natural Gas Project in South West Victoria, Australia. More »

Ukraine halts Russian gas purchases as talks on deal fail

Ukraine halted purchases of Russian natural gas after its bigger neighbor took away most of a price discount and declined to sign a three-way accord with the European Union through the winter heating season. More »

Russia seen extending oil-sales lead with second China pipeline

Russia is set to strengthen its position as the biggest oil supplier to China in the coming decade with a planned second pipeline link to Chinese refineries, according to a unit of Fitch Group Inc. More »

OPEC crude production surges as Iraq pumps at record pace

Iraqi crude production climbed to a record this month, helping send OPEC output to the highest level since August 2012. More »

Oklahoma woman blaming fracking for quake can sue oil firms

New Dominion LLC can be sued by an Oklahoma woman injured when her fireplace fell on her during an earthquake that she blames on disposal wells tied to fracking. More »

Government of Canada announces appointment of new member to the National Energy Board

The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, announced the appointment of Dr. Murray Lytle as a full-time member of the National Energy Board (NEB) for a term of seven years, effective Jul. 6, 2015. More »

Applus+ awarded trio contracts on Ichthys LNG Project worth $17.35 million

Applus+ has been awarded a trio of contracts worth $17.35 million (AUS$22.5 million) for work on the Ichthys LNG Project’s onshore LNG facilities. More »

Tuesday, 30 June 2015

Cenovus sells royalty business for $3.3 billion

Cenovus Energy has reached an agreement to sell Heritage Royalty Limited Partnership (HRP) for gross cash proceeds of approximately $3.3 billion. More »

2H Offshore appoints Prahlad Enuganti as technical manager in Aberdeen office

2H Offshore has appointed Prahlad Enuganti as technical manager in its Aberdeen office, to strengthen its management team and drive business growth. More »

Sonomatic announces agreement to acquire Tube Inspection Division of Archipax

Sonomatic has signed a definitive agreement to acquire the Tube Inspection Division of Archipax. The acquisition is expected to broaden the range of capabilities and services available to Sonomatic’s current and future clients. More »

Cameron launches new wireless, API-compliant flow computer

Cameron (NYSE: CAM) announced the launch of the Scanner 3100 and 2100 model flow computers – introducing wireless, API-compliant flow computing for the oil and gas industry. More »

Russia-Ukraine gas talks set to focus on price as EU seeks deal

Russia and Ukraine were poised to wrangle over natural-gas prices at talks brokered by the European Union, which seeks to secure an agreement on supplies of the fuel through at least next winter. More »

Russia-Turkey gas pipeline deal said to stall on price dispute

Russia’s plan to build a new $15 billion pipeline to Turkey is at risk of delay because of a fight over gas prices, according to people with knowledge of the matter. More »

VAALCO Energy names new COO

VAALCO Energy has announced that Cary Bounds will join VAALCO as the company’s new COO, effective July 6. More »

Logan Industries to supply CCTLF system for Maersk drillship

Logan Industries, based in Hempstead Texas, has recently been awarded with an order for a Compensated Coiled Tubing Lift Frame (CCTLF) for Maersk Drilling. The CCTLF system will be designed and built in-house and is expected to be delivered to Maersk in Q2 2016. More »

Statoil submits $115-million development plan for Gullfaks area

Statoil and its partners have submitted an amendment to the Plan for Development and Operations (PDO) for the Gullfaks license to Norway’s Ministry of Petroleum and Energy for phase 1 of the Shetland/Lista development. More »

BP, Anadarko rejected by top U.S. court on Macondo spill fines

The U.S. Supreme Court rejected appeals from BP Plc and Anadarko Petroleum Corp. and left intact a ruling that opens the companies to potentially billions of dollars in fines for the 2010 Gulf of Mexico oil spill. More »

DCP Midstream Partners' Lucerne 2 plant now serving DJ Basin

DCP Midstream Partners' new 200 MMcfd Lucerne 2 natural gas processing plant is now in service, increasing the partnership's processing capacity in the DJ Basin to approximately 400 MMcfd. More »

Technip wins contract for FPSO destined for Libra field

Technip has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd. More »

CNOOC starts production at Bozhong 28/34 oilfields comprehensive adjustment project

CNOOC Limited’s Bozhong 28/34 oilfields comprehensive adjustment project has commenced production. The Bozhong 28/34 oilfields are located in Bohai, with an average water depth of approximately 22 m. More »

Wood Group acquires BETA Machinery Analysis

Wood Group has acquired BETA Machinery Analysis (BETA), a Calgary-based engineering consultancy specializing in advanced vibration analysis in a deal valued at $14.3 million. More »

Rig rout puts smaller drillers in front as majors scale back

LONDON (Bloomberg) -- Crude oil’s plunge is leaving drilling rigs idle from Africa to Latin America as the world’s biggest energy companies curtail spending and stall projects. Their smaller rivals are seizing the opportunity to gain ground. More »

Oil holds losses below $60 as nuclear talks set to miss deadline

Oil held losses below $60 bbl as investors weighed the prospects of Iran increasing crude exports in an oversupplied market. More »

BP, Anadarko rejected by top U.S. court on Gulf spill fines

The U.S. Supreme Court rejected appeals from BP Plc and Anadarko Petroleum Corp. and left intact a ruling that opens the companies to potentially billions of dollars in fines for the 2010 Gulf of Mexico oil spill. More »

DCP Midstream Partners' Lucerne 2 plant now serving the prolific DJ Basin

DCP Midstream Partners announced its new 200 MMcfd Lucerne 2 natural gas processing plant is now in service, increasing the Partnership's processing capacity in the DJ Basin to approximately 400 MMcfd. More »

Xodus secures new ZADCO vibration contract

Xodus Group has been awarded a contract for the vibration assessment and analysis on the oil train piping and structures for Zakum Development company (ZADCO) at Zirku Island, 140 km north-west of Abu Dhabi. More »

Monday, 29 June 2015

New appointments and mergers at Ministry of Mines, Industry and Energy and GEPetrol will strengthen Equatorial Guinea oil sector

The Ministry of Mines, Industry and Energy of Equatorial Guinea has announced new government appointments and mergers of key internal departments that will streamline its operations and contribute to an overall improvement of governance in Equatorial Guinea, says Centurion Law Group. Meanwhile, GEPetrol’s hiring of a new General Director and other key directors as part of a strategic restructuring will make the national oil company better positioned to carry out its expansion. More »

Logan Industries to supply CCTLF system for Maersk’s drillship Maersk Voyager

Logan Industries, based in Hempstead Texas, has recently been awarded with an order for a Compensated Coiled Tubing Lift Frame (CCTLF) for Maersk Drilling. The CCTLF system will be designed and built in-house and is expected to be delivered to Maersk in Q2 2016. More »

Ikon Science announces the launch of an Atlantic Ireland Regional Study

As the Ireland Atlantic Margins licensing rounds approach, Ikon Science is offering oil and gas companies, an opportunity to get ahead with a new and comprehensive interpretation of pressure and rock physics mechanisms, through a sponsorship position in The Ikon Science Atlantic Ireland Regional Study. More »

New York bans fracing with release of seven-year study

New York state has officially banned hydraulic fracturing. The state, following through on a decision Democratic Governor Andrew Cuomo made in December, released its formal study of the drilling practice Monday after almost seven years of study. More »

Big Oil needs new model to endure $60 crude, Morgan Stanley says

The world’s largest oil companies need to change their business model to increase shareholder returns during a period of depressed crude prices, a report published by Morgan Stanley and The Boston Consulting Group said. More »

Israel gas plan makes the best of limitations, official says

Israel’s proposed guidelines for regulating its natural gas reserves are the best it can hope for because the local industry can’t support competition, a senior government official said. More »

Fugro, Cross Group awarded multi well contract in Gulf of Mexico

Fugro’s dynamically positioned multi-purpose drilling, well intervention and geotechnical vessel, Fugro Synergy, is proving her capabilities on a multi well intervention campaign which recently started in the Gulf of Mexico. More »

Wild Well expands training capabilities with new well control certification program

Wild Well Control, Inc., a Superior Energy Services company and a global leader in firefighting and well control, introduces its exclusive well control training certification program designed to meet the ever-changing needs of the industry by offering a complete selection of action-oriented well control training curricula, which includes both team and individual well control simulator exercises. A first in the industry, Wild Well’s well control training certification program can provide, at the student’s/company’s request, a Competency Report based on the individual simulator exercises, which can be forwarded to the company for their internal HR documentation and to identify additional training requirements if needed. More »

Petrobras lowers five-year spending plan to $130 bn

Petroleo Brasileiro SA cut its five-year spending plan by 37% and lowered oil output targets as Brazil’s state-controlled producer battles the industry’s heaviest debt load and a slump in crude prices. More »

Oil sands prepared to take greater role to tackle climate change, CAPP says

Canada’s oil sands producers are prepared to take a greater leadership role on climate action as part of the growing global intention to reduce greenhouse gas emissions, the Canadian Association of Petroleum Producers (CAPP) said. More »

CAPP seeks 4-point royalty plan to make Alberta more competitive

The Alberta government should consider four principles to make the province more competitive for of oil and gas investment as it proceeds with its royalty review, the Canadian Association of Petroleum Producers said Friday. More »

Husky Energy starts production at South White Rose extension

Husky Energy has started production from the South White Rose project in the Jeanne d'Arc basin offshore Newfoundland and Labrador. More »

Kværner Verdal starts construction of steel jacket for Johan Sverdrup

Work on the steel jacket for Johan Sverdrup field's riser platform is now underway, operator Statoil announced Monday. More »

Kværner Verdal starts construction of steel jacket for Johan Sverdrup

Work on the steel jacket for Johan Sverdrup field's riser platform is now underway, operator Statoil announced Monday. More »

Cuadrilla drilling rejected in blow to UK fracing industry

Cuadrilla Resources Ltd., the driller whose fracing ambitions have sparked protests, was refused permission to drill in northwest England in the latest blow to the UK’s nascent shale-gas industry. More »

Cuadrilla drilling rejected in blow to UK fracking industry

LONDON (Bloomberg) -- Cuadrilla Resources Ltd., the driller whose fracking ambitions have sparked protests, was refused permission to drill in northwest England in the latest blow to the U.K.’s nascent shale-gas industry. More »

Otto Marine wins charter contracts worth $131 million

Otto Marine Limited has announced that in the second quarter of financial year 2015, the group secured new orders worth $131 million, primarily contributed by the chartering business. More »

Eni, KMG to explore Isatay Block in Caspian Sea

Eni and KazMunayGas have finalized an agreement that defines the commercial terms of the transfer to Eni of 50% of the subsoil use rights in the Isatay block located in the Kazakh Caspian Sea. More »

Atlas Knowledge lands Dolphin Drilling contract

Dolphin Drilling has selected Atlas Knowledge to deliver a new system to manage the competence and training of its workforce in the UK. More »

Repsol’s CEO courts skeptical investors after $13-billion deal

In his first year as Repsol SA CEO, Josu Jon Imaz helped lead the largest acquisition by a Spanish company this decade, the $13-billion purchase of Talisman Energy Inc. More »

Origin Energy expects Chinese LNG buyer to fulfill contract

Origin Energy Ltd. expects China Petrochemical Corp. to fulfill its agreement to purchase liquefied natural gas from a A$24.7 billion ($19 billion) export project in Australia. More »

TGS to acquire Polarcus' multi-client library

TGS has entered into a Letter of Intent to acquire Polarcus' multi-client library, with the exception of Australia, for a price of $27.5 million on a cash and debt free basis. More »

Otto Marine wins $131 million worth charter contracts

Otto Marine Limited, has announced that in the second quarter of financial year 2015 (Q2FY2015) till date, the group has secured new orders worth $131 million, primarily contributed by the chartering business. More »

Eni, KazMunayGas to jointly explore Isatay block in Caspian Sea

Eni and KazMunayGas have finalized an agreement that defines the commercial terms of the transfer to Eni of 50% of the subsoil use rights in the Isatay block located in the Kazakh Caspian Sea. More »
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