Stories

FPSO Contract Suspension Could Cost Petrobas US$15-bln

July 8, 2014

Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018 if it had to suspend oil platform contracts with Holland's SBM Offshore NV, the company said in a securities filing. The potential reduction…

Petrobras: End of SBM Contracts Might Trim Profit

July 7, 2014

Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018 if it had to suspend oil platform contracts with Holland's SBM Offshore NV, the company said in a securities filing. The potential reduction…

Chariot Oil & Gas Investments & Woodside Sign Agreement

July 5, 2014

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company,  informed that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd., has signed a farm-out agreement with a wholly owned subsidiary of Woodside…

Floating Production Systems Report And Online Database

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EIVA Adds Reseller in China

July 3, 2014

China has been the destination of quite a number of orders shipped from Danish EIVA the last couple of years. Due to expectations of further growth in demand from this market for EIVA solutions, the company said it has added a new member to the group of authorized resellers in China.

U.S. 2014 Refinery Capacity, Ownership, Updated in EIA Analysis

July 2, 2014

In its 2014  U.S. petroleum refinery update the U.S. Energy Information Administration - EIA - informs that capacity edges up, ownership shifts. Details as follows: As of January 1, 2014, there were 139 operating refineries and three idle refineries…

Ithaca Energy's $300M Senior Notes Pricing

July 2, 2014

Ithaca Energy Inc. announced that it has priced its offering of $300 million aggregate principal amount of 8.125% senior unsecured notes due 2019 at par. Interest will be payable semi-annually. The offering is expected to complete on or about 3 July 2014…

Wood Group Kenny Wins Ghana Contract for Subsea Engineering

July 1, 2014

Wood Group Kenny (WGK) has been awarded an engineering services contract to support Tullow Ghana Limited and its partners through the execution phase of the Tweneboa, Enyenra and Ntomme (TEN) project, offshore Ghana. WGK will provide subsea, umbilical, risers, flowlines (SURF) engineering services.

Det norske Lifts Resource Estimate for Ivar Aasen Field

June 30, 2014

Norwegian oil firm Det norske has lifted the resource estimate for the Ivar Aaasen field in the North Sea after signing an agreement to combine several adjunct licenses and good drilling results, it said on Monday. The firm said the combined…

STELLA B1 Well Flow Test Completed

June 29, 2014

Ithaca Energy Inc. announced completion of flow test operations on the third development well on the Stella field, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day. Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stella field.

Subsea 7 Selects BMT for Offshore Deal

June 26, 2014

Subsea 7 selected BMT Scientific Marine Services (BMT), subsidiary of BMT Group Ltd, to supply the riser monitoring system for the Aasta Hansteen Spar, approximately 300 km off the coast of Norway. The system includes an innovative suite of…

Talisman to Sell Stakes in Two Australian Offshore Fields

June 25, 2014

Talisman Energy Inc said on Wednesday it plans to sell its stakes in two oilfields in the Timor Sea off the coast of Australia as Canada's No.5 independent oil producer continues to restructure its global petroleum properties. The company is…

Offshore Floating Production Market Update

June 24, 2014

Currently, 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 76% of systems on order. Production semis, barges, spars and TLPs comprise the balance.

Nam Cheong Clinches 2 Accommodation Work Barge Contract

June 23, 2014

Nam Cheong Limited a leading global offshore marine player listed on the Main Board of the Singapore Exchange Securities Trading Limited and Malaysia’s largest Offshore Support Vessel builder, today announced that it has sold two Accommodation…

Ithaca'a Proposed Senior Unsecured Notes Offer

June 23, 2014

Ithaca Energy Inc. announced that it intends to offer $300 million in aggregate principal amount of senior unsecured notes due 2019 (the "Notes"). The Notes, the net proceeds of which will be used to partially repay (without cancelling) the…

Indonesia Awards Second Shale Gas Block

June 23, 2014

Indonesia's energy and mining ministry on Monday awarded its second shale gas exploration block to a consortium of foreign oil firms that included New Zealand Oil & Gas Ltd. The New Zealand company, along with Canada's Bukit Energy and Pacific Oil & Gas Ltd in Hong Kong…

Urgent Need to Cut Costs in UK North Sea

June 18, 2014

Britain's North Sea oil and gas industry faces a bleak future where more fields are likely to become uneconomic and shut in as platforms close - unless costs can be controlled, operators say. For some elderly platforms in the Northern North Sea, time is running out.

Pertamina: 10 LNG Cargoes to Asia Buyers

June 18, 2014

Indonesia's Pertamina is offering to sell 10 surplus liquefied natural gas (LNG) cargoes to Asian consumers, loading from July to early November, after a recent nine-cargo deal with BP, trade sources said. Pertamina is offering the cargoes from…

Ithaca Energy Operations Update Ahead of Shareholders Meet

June 17, 2014

Ithaca Energy Provided its operations update ahead of today’s Shareholders Meeting. The details are as follows. The third development well on the Stella field, well 30/06a-B1X (“B1”), has been successfully drilled to a total measured depth subsea of 16,185 feet.

BP & CNOOC Sign 20-yr LNG Deal

June 17, 2014

BP and the China National Offshore Oil Corporation (CNOOC) today announced a heads of agreement for the supply of up to 1.5 million tonnes of liquefied natural gas (LNG) per year over 20 years starting in 2019. The agreement was signed in London by BP Executive Vice President…

2014 . . . And the Story Continues

June 17, 2014

Having sat in this seat for more two decades I am sometimes asked if I’m tired of the job and ready to move along. (Thankfully, though, that question has never come from my boss.) Unequivocally the answer is “no.” While the maritime industry…

ExxonMobil Receives Excellence Award At World Petroleum Congress

June 16, 2014

Industry leadership in producing liquefied natural gas (LNG) earned Exxon Mobil Corporation an Excellence Award today at the World Petroleum Congress in Moscow. ExxonMobil received the Excellence Award for Technical Development for its leadership in safety…

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