Wärtsilä Norway AS is a wholly owned subsidiary of Wärtsilä Corporation in Finland. Wärtsilä enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, Wärtsilä focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, Wärtsilä sets out to be the most valued business partner of all its customers. This is achieved by the dedication of more than 18,000 professionals manning 160 Wärtsilä locations in 70 countries around the world.
Thorvik International Consulting AS provides services for European energy and environment industries, in recruitment, strategy and government affairs work.
Maersk Oil is aiming to grow by exploration and new business activities in Norway and is looking for a skilled and committed geoscientist (5 to 12 years of experience) for the office in Stavanger, Norway.
Thorvik International Consulting AS provides services for European energy and environment industries, in recruitment, strategy and government affairs work.
India’s state-owned Oil and Natural Gas Corporation has confirmed it is set to is all set to acquire a 33% stake in Shell's deep-water block in the north-east Mediterranean, off Egypt.
India’s Union Cabinet is expected to approve ONGC’s proposed investment of $380 million.
The Block has estimated gas reserves of around 14 trillion cubic feet, about the same as Reliance's approved gas find in the Krishna-Godavari basin, and is expected to start production by 2012.
ONGC will, however, be required to take separate approval from the government for further investments towards developing the field.
It has been made clear that the government will not provide additional budgetary support to the company’s overseas arm ONGC Videsh.
"ONGC may provide funds to its subsidiary for acquiring and participation of the project without seeking budgetary support," an official source ttold he Economic Times.
The Cabinet Committee on Economic Affairs meeting scheduled for today is expected to take a final decision in this regard.
The Block is currently held by Shell (84%) and Petronas of Malaysia (16%).
Shell was awarded the deep-water concession to the north of the Nile Delta in 1999.
Out of over half a dozen wells drilled in the field, two have resulted in gas discoveries, confirming the potential of the concession.
ONGC has committed to invest $380 million on the appraisal and exploration of the acreage with a 20% escalation factor.
The company will not pay the 33% share of about $300 million already spent by Shell and Petronas on exploration activities.