Company News

Mooring lifts Iraqi exports

Andrew Hobbs — Mon, 13 Feb 2012 04:31:04 GMT

A new Gulf crude export outlet in Iraq’s southern oil hub of Basra is expected to increase the nation’s exports by around 300,000 barrels of oil per day during the first phase of a broader expansion.

DSME in NK venture

Andrew Hobbs — Mon, 13 Feb 2012 03:00:48 GMT

Daewoo Shipbuilding & Marine Engineering will team with a Chinese company in advancing into a special economic district in North Korea, a leading South Korean newspaper has reported.

Magnolia buys Oklahoma acreage

Andrew Hobbs — Fri, 10 Feb 2012 08:55:32 GMT

US-focused Magnolia Petroleum has spent $230,000 to acquire a combined 439 hectares in the oil producing Mississippi Lime formation in Oklahoma, it has told the London Stock Exchange.

Chevron in Oz recruitment drive

Josh Lewis — Fri, 10 Feb 2012 05:37:08 GMT

Chevron is launching a major recruitment drive in Australia as it attempts to enlist hundreds of engineers to work on its Wheatstone and Gorgon liquefied natural gas projects in Western Australia.

Beach wraps up Adelaide Energy takeover

Josh Lewis — Fri, 10 Feb 2012 05:00:11 GMT

Australian independent Beach Energy has completed its takeover of compatriot Beach Energy after compulsory acquiring all of the shares it did not own in the company.

JV finalises Ichthys EPC contract

Josh Lewis — Fri, 10 Feb 2012 03:55:37 GMT

Houston-based KBR and its joint venture partners, JGC and Chiyoda, have finalised a contract covering engineering, procurement and construction activities on the Inpex-led Ichthys liquefied natural gas project in northern Australia.

El Paso shareholders seek block on merger vote

Josh Lewis — Fri, 10 Feb 2012 02:43:03 GMT

El Paso Corporation’s chief executive tainted the company's proposed $21 billion sale to rival oil pipeline company Kinder Morgan by not disclosing his personal interest in acquiring certain El Paso assets, shareholders are arguing.

Petrobras to lease 26 rigs

Josh Lewis — Fri, 10 Feb 2012 02:14:10 GMT

Brazilian giant Petrobras will hire 26 offshore drilling rigs from Sete Brasil and Ocean Rig over a 15 year period.

Tempa sale

Fri, 10 Feb 2012 01:22:44 GMT

France’s Total has sold its Tempa business in Colombia to Sinochem.

Pioneer change

Fri, 10 Feb 2012 01:22:22 GMT

Pioneer Natural Resources of the US plans to sell its South African offshore assets by the middle of this year.

Gunanusa and Swiber scoop Mahakam contracts

Fri, 10 Feb 2012 01:21:58 GMT

Cilegon-based Gunanusa and the Indonesian subsidiary of Singapore’s Swiber Offshore have won contracts worth more than $200 million for work on the further development of three producing gas and condensate fields in the Total-operated Mahakam permit off Indonesia.

Bids in for Shell Sabah CEOR job

Fri, 10 Feb 2012 01:21:53 GMT

Shell has received bids for its first vessel-based chemical �enhanced oil recovery project at the St Joseph field off Sabah, Malaysia, writes Tan Hwee Hwee.

Jack-up bid

Fri, 10 Feb 2012 01:21:48 GMT

ConocoPhillips is in the market for a jack-up rig for a medium-term drilling programme on its block B production sharing contract off Indonesia.

BP 3D project

Fri, 10 Feb 2012 01:21:43 GMT

BP is almost halfway through acquiring a major 3D marine seismic survey in its frontier deep-water exploration blocks off south Australia.

BP is still on a long road back

Fri, 10 Feb 2012 01:19:59 GMT

BP’s road to recovery is still a sloppy track full of potholes that will need navigating if the UK supermajor is to return to the thoroughbred form it sported before that fateful day in April 2010, writes Blake Wright.

Griffiths eyes private funds

Fri, 10 Feb 2012 01:19:14 GMT

Calgary-based junior Griffiths Energy International has pulled the plug on an initial public offering in Canada, instead looking to raise funds privately.

GE Vetco Grey leads race for Panyu subsea deal

Fri, 10 Feb 2012 01:18:42 GMT

US offshore equipment supplier GE Vetco Gray is leading the race to supply a subsea production �system for China National Offshore Oil Corporation (CNOOC)’s Panyu gas development in the South China Sea.

CNOOC has Enping in its sights

Fri, 10 Feb 2012 01:18:38 GMT

Offshore operator China National Offshore Oil Corporation (CNOOC) is finalising the development plan for its Enping 24-2 field in the Pearl River Mouth basin of the South China Sea.

Encouraging results from Black Sea well

Fri, 10 Feb 2012 01:18:34 GMT

The first deep-water well drilled in the Romanian sector of the Black Sea has yielded encouraging signs of gas for partners Exxon�Mobil and OMV Petrom, although the companies are giving little else away.

Rosneft takes Sberbank’s stake in oil producer

Fri, 10 Feb 2012 01:18:29 GMT

Russia’s state-controlled Rosneft oil company has signed a deal with Sberbank Savings Bank of Russia to buy a 35% stake in oil producer Taas-Yuraykh, writes Vladimir Afanasiev

Arctic role for Norway

Fri, 10 Feb 2012 01:18:25 GMT

Norway is pushing further into the Arctic north, with plans for a seismic campaign in the northern part of the previously disputed area in the Barents Sea.

Statoil ramps up output

Fri, 10 Feb 2012 01:18:22 GMT

Norway’s Statoil saw a big jump in international production late last year, as new and existing fields ramped up in countries including Brazil, �Angola and Azerbaijan.

Seadrill edges towards more newbuild orders

Fri, 10 Feb 2012 01:17:51 GMT

Tight rig capacity and strong market fundamentals, including a relatively high oil price, may push Norwegian rig and drillship owner Seadrill into further newbuild orders.

Isenberg to forego payment

Fri, 10 Feb 2012 01:17:44 GMT

Ousted Nabors chief executive Eugene Isenberg will forego $107 million payable upon the termination of his contract, writes Blake Wright.

MEG hits record output from Christina Lake

Fri, 10 Feb 2012 01:17:07 GMT

MEG Energy posted record production of more than 30,000 barrels per day in the fourth quarter, 20% above its nameplate project capacity.

Outages make for major profits dip at Syncrude

Fri, 10 Feb 2012 01:17:03 GMT

Maintenance outages at the giant Syncrude project led to sharply lower output and a near 60% profits dip in the fourth quarter of 2011 for Canadian Oil Sands.

Progress at Majnoon is slow but sure says Voser

Fri, 10 Feb 2012 01:16:59 GMT

Shell’s development of Iraq’s �giant Majnoon oil field is progressing slowly, with the company now targeting a production of 175,000 barrels per day in 2013, chief executive Peter Voser said.

Jury still out on costly Saudi Arabia exploration campaign

Fri, 10 Feb 2012 01:16:54 GMT

Shell is encouraged by the prospect of sour gas development in Saudi Arabia, but the jury is still out on the outcome of its long and costly exploration campaign in the country.

Deadline on Farzad contract

Fri, 10 Feb 2012 01:16:46 GMT

Iran has given ONGC Videsh (OVL), the overseas arm of India’s Oil & Natural Gas Corporation, a one-month deadline to sign a contract to develop the Farzad-B gas field in the Persian Gulf, at an estimated cost of $5 billion.

Technip takes contracts for Tullow’s Jubilee development

Fri, 10 Feb 2012 01:16:37 GMT

TECHNIP has won contracts for Tullow Oil’s deep-water Jubilee field Phase 1A oil and gas development worth more than $130 million, to be executed in the second half of this year.

Suncor ramps up in Libya

Fri, 10 Feb 2012 01:16:34 GMT

Suncor Energy has resumed production at its joint venture operations in Libya from three out of five fields.

Drill spins in Tanzania

Fri, 10 Feb 2012 01:16:29 GMT

MAUREL & Prom and its partner Wentworth Resources have spudded exploration well �Ziwani-1 on the Mnazi Bay concession, 13 kilometres from the producing gas fields at the Mnazi-Msimbati complex in southern Tanzania’s transition zone.

Sirius starts on Ororo

Fri, 10 Feb 2012 01:16:25 GMT

London-listed Sirius Petroleum has started preliminary work on a development plan for its Ororo oilfield in OML 95, off Nigeria’s Ondo state.

Singapore

Fri, 10 Feb 2012 01:15:01 GMT

The tiny red dot nation of Singapore ranks among the world’s top refining centres as well as being an oil products trading hub.

Fact

Fri, 10 Feb 2012 01:14:56 GMT

Population: 5.18 million as of June 2011, including 3.26 million Singapore citizens.

Fresh interest at in-state gas pipeline possibility

Fri, 10 Feb 2012 01:14:52 GMT

The Alaska legislature is looking anew at the possibility of an in-state natural gas pipeline, should TransCanada’s proposed Alaska Pipeline project fall by the wayside.

Pioneer sells off Alaskan Cosmopolitan unit

Fri, 10 Feb 2012 01:14:48 GMT

Pioneer Natural Resources has sold the Cosmopolitan unit in Alaska to a team comprised of Australian explorer Buccaneer �Energy and privately-held BlueCrest Energy for an undisclosed sum, writes Noah Brenner.

Whiting back in Bandera

Fri, 10 Feb 2012 01:14:44 GMT

WHITING Petroleum has hired a new rig to resume drilling of the Tar Cedar-1 wildcat well in Bandera County, which could open a new shale play in west central Texas.

Billiton goes deep in bid to build reserves

Fri, 10 Feb 2012 01:14:22 GMT

BHP Billiton is busy drilling large gas prospects in deep water off Western Australia as it seeks to build reserves to meet its liquefied natural gas ambitions.

Malaysian go-ahead

Fri, 10 Feb 2012 01:14:17 GMT

Malaysian national oil and gas company Petronas and state utility Tenaga are teaming up to build a liquefied natural gas import terminal at �Lahad Datu in Sabah, East �Malaysia.

New gas hit off Israel

Fri, 10 Feb 2012 01:14:14 GMT

US independent Noble Energy has made a fifth gas discovery off Israel, adding further resources to underpin a proposed liquefied natural gas project.

Thiess wins QCLNG job

Fri, 10 Feb 2012 01:14:09 GMT

Australian construction company Thiess has confirmed winning a big contract to build upstream processing equipment for BG Group’s Queensland Curtis liquefied natural gas project in Australia.

Petrobras signs up for study into terminal

Fri, 10 Feb 2012 01:14:03 GMT

Petrobras has signed a protocol of intentions with South Korean players Samsung C&T and Hyundai Merchant Marine to study the technical and economical feasibility of implementing a new liquefied natural gas regasification terminal in Brazil.

Shell in St Paul’s line of fire

Fri, 10 Feb 2012 01:13:30 GMT

When it comes to angry mobs with socio-political agendas, oil supermajors usually display magnetism akin to that seen in the Large Hadron Collider in Switzerland.

Wrong kind of Marathon in news blooper

Fri, 10 Feb 2012 01:13:25 GMT

Cuttings does not normally like to point out the errors of other news organisations (you know, people who live in glass houses, etc).

Enbridge opponents raise the volume

Fri, 10 Feb 2012 01:13:16 GMT

The medium was the message in Prince Rupert, British Columbia earlier this month when Enbridge opponents held a rock concert in protest of the proposed Northern Gateway pipeline.

Seabird in profit warning

Fri, 10 Feb 2012 01:12:48 GMT

NORWEGIAN seismic player Seabird Exploration has had a turbulent week after issuing a profit warning and replacing its chief executive, writes Beate Schjolberg.

Driller up

Fri, 10 Feb 2012 01:12:40 GMT

US DRILLER Patterson-UTI Energy has posted net income of $87.6 million (56 cents per share) on revenue of $725 million.

Political tensions stoke crude

Fri, 10 Feb 2012 01:12:37 GMT

OIL prices have been at six-month highs this week due to political tensions in the Middle East and improved economic news in China, the US and European Union.

Sandridge shock as it plunges in for US Gulf assets

Fri, 10 Feb 2012 01:12:24 GMT

SANDRIDGE Energy has surprised the industry with a $1.3 billion dive into the Gulf of Mexico, but some analysts are questioning whether the “contrarian” move is really such a good deal.

Let’s hear it for the buoy

Fri, 10 Feb 2012 01:12:11 GMT

J im Feeney turned a fascination with the ocean and a willingness to go where others fear to tread into a successful company that helps industry players monitor ocean currents for efficient rig moves and safe offshore operations.

Gas price drop hits Noble

Steve Marshall — Thu, 09 Feb 2012 13:46:37 GMT

Oil and gas producer Noble Energy posted a loss for the fourth quarter as a steep drop in natural gas prices forced it to lower the value of some US fields.

Husky triples earnings

Steve Marshall — Thu, 09 Feb 2012 13:40:24 GMT

Canadian player Husky Energy’s fourth-quarter profit rose nearly three times as it sold more oil for higher prices.

Gazprom Neft profits surge

Steve Marshall — Thu, 09 Feb 2012 13:26:49 GMT

Russia’s Gazprom Neft saw its 2011 net profit rise by 71%, year-on-year to $5.35 billion, partly on the back of rising crude prices.

Verdal workers 'stable' after fall

Steve Marshall — Thu, 09 Feb 2012 09:41:31 GMT

The condition of three workers seriously injured in a fall at the Kvaerner Verdal yard in northern Norway was said to be stable on Thursday, according to a report.

EMGS turns red ink tide

Steve Marshall — Thu, 09 Feb 2012 09:06:09 GMT

Norwegian electromagnetic survey player EMGS earned record net income in the fourth quarter, reversing a loss from a year ago, as high-profile contracts and a Barents Sea find have raised industry recognition of its relatively new technology.

BG profit up on LNG

Andrew Hobbs — Thu, 09 Feb 2012 07:53:33 GMT

UK-based BG Group’s total operating profit was up 19% or $1.28 billion to $8.2 billion for 2011 on the back of increased revenue from its exploration and production and liquefied natural gas arms.

GDF Suez profits slip

Josh Lewis — Thu, 09 Feb 2012 07:32:48 GMT

French player GDF Suez saw a dip in profits during 2011 as higher expenses and taxes offset a rise in revenue.

ENN stands by China Gas offer

Josh Lewis — Thu, 09 Feb 2012 05:50:48 GMT

ENN Energy said its takeover bid for natural gas distributor China Gas is "reasonable" and it is not looking to sweeten the offer, according to reports.

Bam Clough wins Wheatstone work

Josh Lewis — Thu, 09 Feb 2012 03:56:59 GMT

A joint venture between Australia’s Clough and Dutch company Bam International has been awarded a construction contract for the Chevron-operated Wheatstone liquefied natural gas project in Western Australia.

Sonde sells Duvernay play

Andrew Hobbs — Thu, 09 Feb 2012 03:53:47 GMT

Canadian company Sonde Resources has sold 10,619 gross undeveloped hectares in its Kaybob Duvernay play for C$75 million (US$75.2 million), the company has announced.

Seacor offloads some spill arms

Andrew Hobbs — Thu, 09 Feb 2012 03:24:46 GMT

US-based services company Seacor has announced plans to sell some of its oil spill response services arms to a private equity company.

Statoil catches new project wave

Steve Marshall — Wed, 08 Feb 2012 15:45:14 GMT

Norwegian state oil giant Statoil aims to bring on stream new global projects in two waves over the next five years that will add more than 1.5 million barrels per day of new production capacity, after reversing a laggardly reserves replacement rate last year.

Statoil keeps faith in US shale

Steve Marshall — Wed, 08 Feb 2012 11:24:45 GMT

Statoil chief executive Helge Lund has asserted the company’s belief in the profitability of the US shale gas sector despite a drastic cutback in production drilling in the Marcellus play by co-venturer Chesapeake Energy due to low gas prices.

Transcorp reduces farm-in funds

Andrew Hobbs — Wed, 08 Feb 2012 09:38:34 GMT

The Transnational Corporation of Nigeria will accept reduced farm-out funds from a South African joint venture over an onshore block of which it is the operator, partner SacOil has announced.

Statoil doubles net income

Andrew Hobbs — Wed, 08 Feb 2012 08:10:57 GMT

Norway’s Statoil has recorded a net income of Nkr 78.4 billion ($13.59 billion), more than double the Nkr 37.6 billion generated in 2010, following a year of strong exploration results.

Lundin profits on higher output

Josh Lewis — Wed, 08 Feb 2012 07:31:20 GMT

Sweden’s Lundin Petroleum saw profits from its continuing operations rise 20% as revenues were driven higher and increased production from Norway offset falls elsewhere.

Technip wins Petrobras flexible pipe contract

Josh Lewis — Wed, 08 Feb 2012 07:01:06 GMT

French services player Technip has been awarded a five year frame agreement contract by Brazilian giant Petrobras for the supply of about 1400 kilometres of flexible pipes.

Thiess lands QCLNG gig

Josh Lewis — Wed, 08 Feb 2012 06:37:41 GMT

Leighton Holdings subsidiary Thiess has been awarded a contract to build the gas processing facilities for the Queensland Curtis liquefied natural gas (QCLNG) project in Australia.

Ekunias to build portfolio

Andrew Hobbs — Wed, 08 Feb 2012 02:57:06 GMT

Malaysian government-owned private equity fund Ekuiti Nasional, also known as Ekunias, aims to add more oil and gas companies to its investment portfolio later this year, according to reports.

Petrobras 'to lift output bar'

Steve Marshall — Tue, 07 Feb 2012 13:28:48 GMT

Brazil’s state-owned oil company Petrobras is set to beat its record 2011 oil production this year, departing chief executive Jose Sergio Gabrielli was reported as saying on Tuesday.

Russia 'eyes state oilfield outfit'

Steve Marshall — Tue, 07 Feb 2012 13:07:03 GMT

Foreign oilfield service companies operating in Russia could face fresh competition with the creation of a new state-owned entity under consideration by the Kremlin, according to a report.

Sami 'bets on' for Big Bear killing

Steve Marshall — Tue, 07 Feb 2012 11:21:06 GMT

Norwegian independent North Energy has seen a strange reversal in stockmarket fortune despite suffering some bad luck on the exploration front of late.

Gazprom 'cash restraint' on Shtokman

Steve Marshall — Tue, 07 Feb 2012 10:18:53 GMT

Gazprom is tightening the purse strings on the stalled Shtokman project as it revealed a substantial cut in its investment budget for this year, according to a report.

Dart tallies international reserves

Josh Lewis — Tue, 07 Feb 2012 08:58:03 GMT

Australian coalbed methane (CBM) player Dart Energy has increased its international reserves and contingent resources following recent deals with UK companies BG Group and Greenpark Resources.

Coretrack to fight Strange injunction

Andrew Hobbs — Tue, 07 Feb 2012 07:11:30 GMT

Australia-based technical services company Coretrack plans to fight a move by former partner Strange Investments to take control of the intellectual property surrounding the GT3000 drilling rig.

Cougar moves on appeal

Andrew Hobbs — Tue, 07 Feb 2012 06:13:30 GMT

The appeal launched by Australia-based coal bed methane company Cougar Energy against the government of the Australian state of Queensland is progressing, with a directions hearing set for 1 March.

Oando wins Shell rig contract

Josh Lewis — Tue, 07 Feb 2012 05:50:54 GMT

Nigeria’s Oando Energy Services has been awarded a two year contract for its swamp rig OES Passion by Anglo-Dutch supermajor Shell for operations in the Niger Delta.

Sinopec Shanghai seeks Canada appeal

Andrew Hobbs — Tue, 07 Feb 2012 04:34:04 GMT

A Chinese construction company will repeat its argument that it has no official presence in Canada as it seeks to avoid a trial over the deaths of two workers in 2007.

Toyo buys IKPT stake

Tan Hwee Hwee — Tue, 07 Feb 2012 04:17:42 GMT

Japan’s Toyo Engineering has picked up a 47% stake in Indonesia’s Inti Karya Persada Teknik, (IKPT) amid an increase in tendering activity for infrastructure and oil and gas projects in the south-east Asian country.

International raises $35.4m

Josh Lewis — Tue, 07 Feb 2012 03:29:39 GMT

Australia-listed International Petroleum has successfully completed its recent share placement, raising A$33.1 million (US$35.4 million).

Donggi-Senoro on track

Andrew Hobbs — Tue, 07 Feb 2012 02:34:30 GMT

The Donggi-Senoro liquefied natural gas plant currently under construction in the centre of the Indonesian island of Sulawesi is on track for first production by late 2014, a partner in the project has said.

Newfield set for 'US Gulf sale'

Steve Marshall — Mon, 06 Feb 2012 15:02:09 GMT

US independent Newfield Exploration has hinted at asset disposals in the deep-water Gulf of Mexico this year under an ongoing divestment programme as it switches the focus to onshore oil plays.

SeaBird in profits alert as boss quits

Steve Marshall — Mon, 06 Feb 2012 11:14:52 GMT

Cash-strapped Norwegian seismic player SeaBird Exploration has instigated a top-level management switch as it issued a profit warning amid a struggle to boost its liquidity following a capital restructuring.

Indian players hit with higher subsidy

Josh Lewis — Mon, 06 Feb 2012 08:31:54 GMT

The Indian government has asked upstream oil companies to compensate state-run oil refiners for 37.91% of revenue losses on fuel sales for the final nine months of 2011, according to reports.

KNOC sells Ankor stake

Andrew Hobbs — Mon, 06 Feb 2012 07:23:23 GMT

Korea National Oil Corporation has sold a 29% stake in the Ankor field, located in the Gulf of Mexico, to a Korean-owned consortium for $308 million.

Technip jumps on Jubilee work

Josh Lewis — Mon, 06 Feb 2012 07:05:35 GMT

French services player Technip has been awarded two contracts for Phase 1A of Tullow Oil’s Jubilee project, off Ghana.

Eni ups imports on Russian shortfall

Andrew Hobbs — Mon, 06 Feb 2012 04:06:59 GMT

Italy is importing more gas from Algeria to offset lower Russian supplies, the chief executive of energy giant Eni said on Sunday, adding he saw no shortage problems in the country for the next few days.

Gazprom cannot meet higher Europe demand

Andrew Hobbs — Mon, 06 Feb 2012 03:38:24 GMT

Russian gas exporter Gazprom has brought supplies to Europe back up to normal after reducing them "for a few days", but it is unable to meet increased demand amid freezing weather, a company official told Russian Prime Minister Vladimir Putin on Saturday.

Central raises Surprise funds

Josh Lewis — Mon, 06 Feb 2012 03:21:16 GMT

Australia-listed Central Petroleum has raised A$9.9 million (US$10.6 million) to support its current campaign in the Amadeus basin in Australia’s Northern Territory.

Sembcorp lands first Brazilian order

Josh Lewis — Mon, 06 Feb 2012 02:21:10 GMT

Singapore’s Sembcorp Marine has secured the first order for its Brazilian yard in Arazruz which will see it build an ultra-deepwater drillship for Petrobras- backed rig-owner Sete Brasil.

Swiber secures contract wins

Andrew Hobbs — Mon, 06 Feb 2012 02:07:27 GMT

New contracts totalling $216 million for offshore construction projects and vessel chartering services in South and Southeast Asia have boosted the order book of Singapore-based Swiber Holdings to $1 billion.

Gulf Keystone in Algeria transfer deal

Steve Marshall — Fri, 03 Feb 2012 15:33:16 GMT

AIM-listed Gulf Keystone Petroleum has finally wrapped up an agreement to transfer its interest in the Hassi Ba Hamou permit in Algeria as it pulls the plug on the North African country.

BP's ex-safety chief heads for exit

Steve Marshall — Fri, 03 Feb 2012 14:48:23 GMT

The head of BP’s safety committee at the time of the Macondo well blowout and spill is set to stand down from the board as part of a top-level shake-up at the UK supermajor following the 2010 accident in the Gulf of Mexico.

Oilsands Quest gets cash lifeline

Steve Marshall — Fri, 03 Feb 2012 14:21:21 GMT

Canadian player Oilsands Quest has secured a financing deal and asset sale that will generate more than C$8 million ($8 million) in funding as it battles to stave off bankruptcy.

National Oilwell in $670m NKT buy

Steve Marshall — Fri, 03 Feb 2012 11:45:29 GMT

US drilling services player National Oilwell Varco (NOV) has snapped up Danish contractor NKT Flexibles in a Dkr3.8 billion ($673.6 million) deal.

Tullow seals Uganda PSA deals

Steve Marshall — Fri, 03 Feb 2012 09:25:34 GMT

UK independent Tullow Oil has signed new production sharing agreements with the Uganda government, clearing the way for a stalled farm-down deal in the East African country.

Deal boosts Aker in Ghana

Andrew Hobbs — Fri, 03 Feb 2012 08:07:07 GMT

Norway’s Aker Solutions will provide well intervention services for Tullow Ghana’s Jubilee and Tano deepwater fields under a contract Aker said would generate revenues of about $4 million.

Inpex net income soars

Andrew Hobbs — Fri, 03 Feb 2012 07:27:48 GMT

Japanese oil company Inpex has recorded a net income of �115.86 billion ($1.52 billion) in the nine months to 31 December 2011, up 28.6% on the �90.11 billion recorded over the same period in 2010.

Hoegh raises funds, orders FSRU

Josh Lewis — Fri, 03 Feb 2012 07:04:13 GMT

Norway’s Hoegh LNG announced on Friday it had raised Nkr1.2 billion ($206.1 million) through a private placement and exercised an option for an additional floating storage and regasification unit from Korea's Hyundai Heavy Industries.

New Sunoco chief in May

Andrew Hobbs — Fri, 03 Feb 2012 03:52:11 GMT

Sunoco chief executive Lynn Elsenhans will step down from the role on 1 March as the company continues its exit from the refining business to focus on its pipelines and retail gas arm.

Aurelian assessing its options in Poland

Fri, 03 Feb 2012 03:09:46 GMT

European onshore-focused Aurelian Oil & Gas has brought in advisers to review strategic options as it looks to progress a gas project in Poland.

Repsol awaits go-ahead for Helix capping stack

Fri, 03 Feb 2012 02:45:27 GMT

US marine contractor Helix Energy Solutions Group is awaiting approval from the US government to stage a new subsea well capping stack in Florida in case of an oil well blowout off Cuba.

Court rules BP must indemnify Halliburton over Macondo

Fri, 03 Feb 2012 02:45:03 GMT

Supermajor BP must indemnify Macondo contractor Halliburton for damage claims under its contract related to services provided on the ill-fated well, according to a ruling this week by US District Judge Carl Barbier.

Gaivota find for Starfish

Fri, 03 Feb 2012 02:40:19 GMT

Sonangol Starfish, the Brazilian unit of Angola’s state oil company, has reported a technical discovery at the Gaivota wildcat, on Campos basin Block C-M-622.

Galeota spud

Fri, 03 Feb 2012 02:36:09 GMT

Bayfield Energy has spudded its first well on the Galeota block off Trinidad.

Jail for four UK oilmen

Fri, 03 Feb 2012 02:24:26 GMT

Four men have been given prison sentences in the UK after being found guilty of obtaining corrupt payments related to a number of upstream and downstream projects, writes Iain Esau.

Chevron admits routine gas escapes at Funiwa

Fri, 03 Feb 2012 02:18:35 GMT

Chevron chief executive John Watson has accepted gas escapes did occur from the Funiwa Deep-1a well in the lead-up to the recent blowout off Nigeria that claimed two lives, but said such events are not unusual.

Watson defends supermajor’s response to Frade spill off Brazil

Fri, 03 Feb 2012 02:18:11 GMT

US supermajor Chevron has rigorously defended its response to the November oil spill from the Frade development off Brazil and asked for a fair treatment from local regulatory bodies.

Seafloor production progress

Fri, 03 Feb 2012 02:16:21 GMT

Complete production on the seafloor is taking another step forward this year as two Norwegian key projects for subsea gas compression enter the testing phase, writes Beate Schjolberg.

Centrica in gas boost

Fri, 03 Feb 2012 02:14:28 GMT

UK utility Centrica has secured further gas reserves by acquiring ConocoPhillips’ non-operated interests in the Stat�fjord field and nearby satellites for $223 million.

2017 start-up target for LNG export scheme

Fri, 03 Feb 2012 02:11:46 GMT

French utility GDF Suez has homed in on a 2017 start-up date at the earliest for its proposed liquefied natural gas export scheme in Cameroon.

Restart for Arthit North gas

Fri, 03 Feb 2012 02:10:12 GMT

The owners of the Arthit gas field in Thailand have found a way to restart production from the mothballed Arthit North satellite field.

IOOC eyeing eight vessels

Fri, 03 Feb 2012 02:09:50 GMT

Iranian Offshore Oil Company (IOOC) has issued a tender for the charter of eight supply and logistics vessels in the Persian Gulf and Sea of Oman.

BMG hands back FPSO

Fri, 03 Feb 2012 02:09:24 GMT

The co-owners of the Basker Manta Gummy (BMG) project in Australia have officially handed back the leased floating production, storage and �offloading vessel Crystal Ocean to its owner Sea Production.

Barque partner sought

Fri, 03 Feb 2012 02:06:07 GMT

New Zealand Oil & Gas is seeking an experienced offshore player as a farm-in partner to help drill the frontier Barque wet gas prospect off the country’s South Island.

New probes for Browse

Fri, 03 Feb 2012 02:05:41 GMT

Privately-owned Australian company Indian Pacific Minerals is aiming to drill one or two exploration wells in the coming months in the gas-rich Browse basin off north-west Australia.

Go for Palm

Fri, 03 Feb 2012 02:05:17 GMT

US company Magellan Petroleum expects to begin gas �deliveries soon from its mature Palm Valley gas field in central Australia.

Pengrowth sets out its spending plans for Alberta plays

Fri, 03 Feb 2012 01:59:51 GMT

Pengrowth Energy plans to spend C$625 million ($624 million) on developing liquids-rich natural gas plays across Alberta, Canada.

Technip win

Fri, 03 Feb 2012 01:38:48 GMT

Technip has been awarded a A$110 million (US$114.5 million) sub-contract for the detailed design of the central processing platform for Chevron’s Wheatstone LNG project in Australia.

Snohvit gas estimate rises

Fri, 03 Feb 2012 01:38:03 GMT

NORWEGIAN operator Statoil has increased its estimate of recoverable gas reserves at the Snohvit natural gas field in the Barents Sea by 20 billion cubic metres.

Anadarko nails down site for export plant

Fri, 03 Feb 2012 01:37:16 GMT

US independent Anadarko has selected the preferred site for its 10 million tonne per annum liquefied natural gas project in Mozambique.

GE lands Ichthys contracts

Fri, 03 Feb 2012 01:36:50 GMT

Italy-based GE Oil & Gas has landed contracts worth more than $1 billion to supply �Inpex’s Ichthys liquefied natural gas project off Australia.

McDermott subsea deal

Fri, 03 Feb 2012 01:36:24 GMT

McDermott has confirmed winning the subsea equipment and installation contract worth US$2 billion for the Ichthys project in Australia.

Shell still has its eyes fixed on Gabon gas project

Fri, 03 Feb 2012 01:36:00 GMT

Anglo-Dutch supermajor Shell is still considering a liquefied natural gas project in Gabon.

Sinopec plans overhaul with spin-off of outfits

Fri, 03 Feb 2012 01:33:12 GMT

SINOPEC, China’s second largest oil company, plans to overhaul its corporate structure by spinning off its oilfield service and engineering businesses and listing the new outfits in the Hong Kong equity market.

TNB chief executive resigns after three quarters of losses

Fri, 03 Feb 2012 01:32:46 GMT

THE chief executive of Tenanga Nasional (TNB) has resigned after the Kuala Lumpur-listed utility group chalked up three consecutive quarters of losses partly attributed to a critical gas supply shortfall in Peninsular Malaysia, writes Tan Hwee Hwee.

Gazprom unveils results

Fri, 03 Feb 2012 01:32:01 GMT

Russia’s state controlled Gazprom has unveiled financial results for the first nine months of 2011.

Crude robust as eyes turn to Iran sanctions

Fri, 03 Feb 2012 01:31:37 GMT

Oil prices were relatively robust this week, slipping slightly from intra-day highs on Wednesday on news of higher-than-expected US crude inventories.

Crashing back to reality

Fri, 03 Feb 2012 01:31:12 GMT

US natural gas futures crashed back to reality this week amid continued warm weather and rising gas production, writes Noah Brenner.

Crescent Point swoops in for Wild Stream

Fri, 03 Feb 2012 01:30:49 GMT

Crescent Point Energy is increasing its holdings in south-west Saskatchewan, Canada with the acquisition of Wild Stream Explor�ation for C$770 million (US$769 million), writes Tonya Zelinksy.

Pre-salt team in hunt for new acreage partner

Fri, 03 Feb 2012 01:30:24 GMT

A consortium formed by Brazil’s Petrobras and US companies Exxon�Mobil and Hess is due to meet in February to discuss plans for the sale of a minority stake in the high-profile Santos basin Block BM-S-22.

Statoil 'seeks West Qurna 2 sale nod'

Steve Marshall — Thu, 02 Feb 2012 14:38:23 GMT

Norway's Statoil has asked Iraq's Oil Ministry for permission to sell its stake in Phase Two of the West Qurna oilfield project to Russian partner Lukoil, according to reports.

Rosneft secures Taas-Yuriakh stake

Steve Marshall — Thu, 02 Feb 2012 13:35:03 GMT

Russian state oil company Rosneft has confirmed its acquisition of the Taas-Yuriakh oil assets in East Siberia from Sberbank in a deal worth $444 million.

Rough quarter for Diamond

Steve Marshall — Thu, 02 Feb 2012 11:39:50 GMT

US-listed rig contractor Diamond Offshore saw its fourth-quarter profit drop to $188 million, from $242 million a year ago, as fleet downtime hit the bottom line.

'Sale imminent' on Sberbank assets

Steve Marshall — Thu, 02 Feb 2012 10:23:50 GMT

Russia's top lender Sberbank is set to announce the sale of its Taas-Yuriakh oil assets in Eastern Siberia to state-controlled oil major Rosneft, according to a report.

Bergen wins Aasgard compression prize

Steve Marshall — Thu, 02 Feb 2012 10:03:41 GMT

Norwegian contractor Bergen Group Offshore has secured a Nkr50 million ($8.6 million) contract from Statoil for fabrication of subsea structures on the Aasgard subsea gas compression project.

Subsea 7 wins Clair Ridge deal

Andrew Hobbs — Thu, 02 Feb 2012 08:20:57 GMT

Norway-based Subsea 7 has won a contract worth $100 million for the development of oil and gas pipelines from BP Exploration’s Clair Ridge project.

SBM wins Ichthys contract

Andrew Hobbs — Thu, 02 Feb 2012 07:19:25 GMT

Dutch company SBM Offshore has won a $500 million contract to supply a turret and mooring system to the Ichthys liquefied natural gas project off the coast of Western Australia.

Duo to build Malaysian LNG terminal

Josh Lewis — Thu, 02 Feb 2012 05:30:44 GMT

Malaysia's national power producer Tenaga Nasional Berhad (TNB) and state-run Petronas plan to invest in a 2 billion ringgit ($657.46 million) gas plant and liquefied natural gas terminal on Borneo island.

Pemex alleges supermajors sold stolen fuel

Josh Lewis — Thu, 02 Feb 2012 05:14:13 GMT

Mexico's state oil company Pemex is suing supermajors ConocoPhillips and Shell for selling stolen fuel, according to US court filings.

Coretrack sues over IP deal end

Andrew Hobbs — Thu, 02 Feb 2012 04:47:05 GMT

Australia-based technical services company Coretrack will sue the company owned by a consultant to its subsidiary over the latter’s cancellation of an intellectual property licence agreement.

ONGC 'in $33bn spend'

Steve Marshall — Wed, 01 Feb 2012 11:09:15 GMT

Indian state-owned giant Oil & Natural Gas Corporation (ONGC) is targeting 1.64 trillion rupees ($33 billion) in capital expenditure over the next five years, according to a report.

Gazprom profits on higher sales

Josh Lewis — Wed, 01 Feb 2012 08:28:45 GMT

Russian giant Gazprom saw profits rise during the first nine months of 2011 as sales revenue surged 32%.

Apache, Yara take over Burrup

Andrew Hobbs — Wed, 01 Feb 2012 07:40:31 GMT

Norway’s Yara International will become operator of the Burrup Holdings’ ammonia fertiliser plant on Western Australia’s Burrup Peninsula after finalising a deal with Apache Corporation and the Australia & New Zealand banking group.

Suncor profits up on prices

Josh Lewis — Wed, 01 Feb 2012 05:08:23 GMT

Canada’s Suncor Energy posted a rise in profits during the final three months of 2011 as higher prices increased the company’s cash flow.

Senex signs Orca deals

Josh Lewis — Wed, 01 Feb 2012 03:44:25 GMT

Australia’s Senex Energy has entered separate agreements to earn an additional 22% interest in PEL 115, in South Australia’s Cooper basin, and acquire shares in joint venture partner Orca Energy.

MarkWest in Marcellus expansion

Andrew Hobbs — Wed, 01 Feb 2012 03:21:18 GMT

Energy transport company MarkWest Energy Partners is increasing its capacity to process natural gas and liquids produced in the burgeoning Utica and Marcellus shale plays in the US northeast.

Holly pipeline leaks in Texas

Andrew Hobbs — Wed, 01 Feb 2012 02:49:52 GMT

Oil logistics company Holly Energy Partners said on Tuesday that one of its pipelines in West Texas has leaked more than 1100 barrels of crude oil near a pump station.

QGC takes Drillsearch slice

Josh Lewis — Wed, 01 Feb 2012 02:41:22 GMT

The Australian subsidiary of UK giant BG Group will gain a 9.4% stake in Sydney-based Drillsearch Energy after exercising options granted as part of the A$130 million (US$138.2 million) joint venture the duo entered last year.

Ecuador deals to boost output

Andrew Hobbs — Wed, 01 Feb 2012 01:59:30 GMT

Ecuador's state oil company Petroecuador is set to sign long-term deals with several foreign companies for investments worth $1.7 billion to increase oil output at two mature oil fields, President Rafael Correa said on Tuesday.

Ensco bags Anadarko rig gig

Steve Marshall — Tue, 31 Jan 2012 14:19:58 GMT

Drilling contractor Ensco has secured a contract worth $480 million with US independent Anadarko Petroleum for the final ultra-deepwater semi-submersible rig of its 8500 series.

Origin revenue up as production slumps

Andrew Hobbs — Tue, 31 Jan 2012 10:19:41 GMT

Australia’s Origin Energy has recorded lower production and higher revenues in the six months to December 2011 when compared with the same period in 2010, the company has announced.

Essar gets Gujarat tax bill

Andrew Hobbs — Tue, 31 Jan 2012 08:22:35 GMT

London-listed Essar Oil, a subsidiary of the broader Essar Energy group has received a demand notice for repayment of 63 billion rupees (US$1.27 billion) plus interest in taxes from the Indian state of Gujarat, after a deferral attempt failed.

Horizon’s sales fall with production

Josh Lewis — Tue, 31 Jan 2012 07:37:00 GMT

Australia’s Horizon Oil saw revenue slip during the fourth quarter of 2011 as both sales and production declined.

PTTEP income up on sales

Andrew Hobbs — Tue, 31 Jan 2012 07:13:16 GMT

Thailand's PTT Exploration and Production has recorded a comprehensive consolidated net income of $1.45 billion for the 2011 calendar year, up 5.4% on 2010, due largely to greater earnings from its petroleum sales.

AWE posts dip in revenue

Josh Lewis — Tue, 31 Jan 2012 05:39:59 GMT

Australia-listed AWE saw revenue slip during the three months to 31 December as it reduced output during the quarter.

BMG partners hand back FPSO

Russell Searancke — Tue, 31 Jan 2012 03:55:13 GMT

Roc Oil and its co-venturers in the Basker Manta Gummy (BMG) project in Australia have officially handed back the leased floating production, storage and offloading vessel Crystal Ocean to its owner Sea Production.

FAR moves with Flow

Russell Searancke — Tue, 31 Jan 2012 02:47:31 GMT

Australian explorer FAR has completed the acqusition of privately-owned compatriot Flow Energy, and has plans for six offshore exploration wells over the next two years.

International to raise extra $10m

Josh Lewis — Tue, 31 Jan 2012 02:33:22 GMT

Australia’s International Petroleum has received a better than expected response to its recent share placement, confirming it had received firm commitments from institutions and investors to raise A$33.1 million (US$35.2 million).

DSME wins Kuwait order

Andrew Hobbs — Tue, 31 Jan 2012 01:58:13 GMT

South Korea's Daewoo Shipbuilding & Marine Engineering will build four very large crude carriers and one product carrier for Kuwait Oil Tanker Company for around $560 million, according to reports.

Aker sheds Det Norske shares

Steve Marshall — Mon, 30 Jan 2012 15:35:23 GMT

Norwegian industrialist Kjell Inge Rokke’s holding company Aker ASA has sold down its stake in Det Norske Oljeselskap but said it has not changed its investment strategy for the fast-growing independent.

Duo win Wheatstone work

Josh Lewis — Mon, 30 Jan 2012 09:36:06 GMT

A joint venture between Leighton Holdings subsidiary Thiess and Belgium’s Besix has been awarded a A$260 million (US$274.2 million) development contract for Chevron’s Wheatstone liquefied natural gas project in Western Australia.

Seadrill stalls Brazil listing

Steve Marshall — Mon, 30 Jan 2012 09:14:44 GMT

Seadrill is set to push back the date of the planned listing of Brazilian subsidiary Seabras on the Sao Paulo stock exchange pending changes to the corporate structure of the outfit.

Wentworth increases Mnazi Bay stake

Josh Lewis — Mon, 30 Jan 2012 08:27:30 GMT

Tanzania-based Wentworth Resources has reached an agreement with London-listed Cove Energy which will see it acquire all of the latter’s interest in the Mnazi Bay concession in Tanzania.

Tangiers raises funds

Josh Lewis — Mon, 30 Jan 2012 06:49:47 GMT

Australia’s Tangiers Petroleum has raised nearly A$6.4 million (US$6.8 million) in a private placement book build which will be used to fund its exploration program in Morocco and Australia.

Monadelphous wins Gorgon project

Andrew Hobbs — Mon, 30 Jan 2012 05:46:31 GMT

Monadelphous Group has won a contract for the preparation and construction of a carbon dioxide injection pipeline and well sites on Chevron’s Gorgon project on Barrow Island, off the north west coast of Western Australia.

OWS takes Raamns stake

Andrew Hobbs — Mon, 30 Jan 2012 04:10:33 GMT

India-based Oil Field Warehouse & Services will buy a major stake in Raamns Shipping & Logistics, based in the port city of Kakinada, the larger company has announced.

Ex-YPFB head gets 12 years

Andrew Hobbs — Mon, 30 Jan 2012 03:00:05 GMT

The former chief executive of Bolivian state oil company Yacimientos Petroliferos Fiscales Bolivianos, Santos Ramirez, has been sentenced to 12 years in prison after being convicted on corruption charges.

Total closing in on Kurdish blocks

Josh Lewis — Mon, 30 Jan 2012 02:51:29 GMT

French giant Total is close to securing exploration rights over several oil and gas blocks in Iraqi Kurdistan, according to reports.

Chevron sees dip in profits

Steve Marshall — Fri, 27 Jan 2012 15:39:27 GMT

Chevron saw its fourth-quarter net income fall to $5.1 billion, from $5.3 billion a year earlier, as a production drop and refinery losses hit the bottom line.

Horizon, Talisman make Stanley FID

Andrew Hobbs — Fri, 27 Jan 2012 09:31:36 GMT

Australian independent Horizon Oil and Canadian company Talisman Energy will proceed with their Stanley field gas condensate project in Papua New Guinea after reaching a final investment decision today.

Santos, Woodside prepare for Iggy

Andrew Hobbs — Fri, 27 Jan 2012 07:46:31 GMT

Australia-based Santos and Woodside Petroleum have taken action in response to a strengthening Tropical Cyclone Iggy, sitting off the coast of northwestern Australia.

Clough bags PNG LNG work

Andrew Hobbs — Fri, 27 Jan 2012 05:34:23 GMT

Australian engineering and construction contractor Clough said its Clough Curtain joint venture has secured work orders valued at A$145 million ($153.9 million) on the PNG LNG upstream infrastructure contract.

Woodside considers Browse stake sale

Andrew Hobbs — Fri, 27 Jan 2012 02:33:45 GMT

Woodside Petroleum has confirmed reports it is considering the sale of a small stake in the huge Browse liquefied natural gas project in Australia, but has sworn to remain operator of the project

BRIEFS

Fri, 27 Jan 2012 01:52:44 GMT

china

Mixed results in Q4

Fri, 27 Jan 2012 01:52:25 GMT

Major US operators reported mixed fourth-quarter earnings with increases in domestic production often offset by declines abroad, writes Noah Brenner.

Seabras IPO in Sao Paolo

Fri, 27 Jan 2012 01:52:20 GMT

Seabras, the Brazilian unit of Norwegian drilling giant Seadrill, plans to raise as much as 1.7 billion reais ($971 million) in an initial public offering on the Sao Paulo stock exchange.

Five high in new Halcon drive

Fri, 27 Jan 2012 01:51:51 GMT

Halcon Resources, the newest company led by Petrohawk founder Floyd Wilson, has established positions in five unconventional plays in the US, including the Mississippian Lime in Oklahoma, the Ohio Utica and the Woodbine in east Texas.

$690,000 for Eirik Raude rig

Fri, 27 Jan 2012 01:51:47 GMT

Ocean Rig is understood to have landed a $690,000 dayrate plus bonus contract for its semi-submersible drilling rig Eirik Raude off Equatorial Guinea, writes Eoin OCinneide.

Deepwater Expedition BOP woe costs contract

Fri, 27 Jan 2012 01:51:42 GMT

BHP Billiton and Malaysia’s Petronas Carigali have decided to terminate their joint multi-year contract with Transocean for the drillship Deepwater Expedition due to prolonged control issues with the rig’s blowout preventer stack.

Gracas Foster can be boon for Brazil

Fri, 27 Jan 2012 01:51:26 GMT

A management shake-up at Petrobras — starting with the imminent replacement of chief executive Jose Sergio Gabrielli by gas and energy director Maria das Gracas Foster — was welcomed by stock markets this week, spurring the Brazilian giant to advances on a scale rarely seen over the past two years.

Wall Street knows the drill for service sector

Fri, 27 Jan 2012 01:51:21 GMT

YOU have to love those guys on Wall Street — Halliburton records a 50% increase in annual profits and equity analysts mark the shares down 3%.

Chesapeake’s plans to shut-in wells spurs slumping US market

Fri, 27 Jan 2012 01:50:05 GMT

Plans by US producer Chesapeake to shut in up to 1 billion cubic feet per day of output, about 1.5% of total US production, gave a fillip to the slumping US natural gas market this week, writes Noah Brenner.

BP going deep off Brazil

Fri, 27 Jan 2012 01:49:33 GMT

UK supermajor BP is breaking into the ultra-deep waters of the north-east Ceara basin off Brazil after acquiring a �minority 40% participation �interest in Block BM-CE-1 from Petrobras.

Dockwise readies quotes for floatover installation

Fri, 27 Jan 2012 01:49:30 GMT

THE Netherlands-based heavy lift vessel owner Dockwise is preparing quotes to Mexican fabricators Ica-Fluor and Swecomex for a proposed floatover installation of a 10,000-tonne platform for the Litoral A field development off �Tabasco, Mexico, for operator Pemex.

Gazprom in Bangladesh deal

Fri, 27 Jan 2012 01:48:39 GMT

Russia’s Gazprom has entered into a deal with Petrobangla to drill 10 wells onshore Bangladesh.

EnQuest is Kraken operator

Fri, 27 Jan 2012 01:48:22 GMT

EnQuest is set to take over operatorship of the Kraken oil discovery in the UK North Sea after agreeing a deal that will see it spend up to $240 million to acquire another 25% stake in the field.

Gazprom and Novatek in talks on co-operation

Fri, 27 Jan 2012 01:48:14 GMT

Russia’s state-controlled gas monopoly Gazprom has again highlighted its interest in independent gas producer Novatek as a partner in greenfield projects, including the planned Yamal liquefied natural gas scheme.

Deo pushes Perth plans

Fri, 27 Jan 2012 01:48:10 GMT

London-listed Deo Petroleum has submitted an environ�mental impact assessment for its Perth field as its pushes forward with the floater-based development off the UK.

No room for complacency on safety

Fri, 27 Jan 2012 01:47:22 GMT

It is now almost two years since the Macondo blowout and explosion claimed 11 lives and caused the worst oil spill ever in US waters.

BP’s safety team takes a sweeping policing role

Fri, 27 Jan 2012 01:46:32 GMT

THE direction of BP has been transformed by the Deepwater Horizon catastrophe, one in a series of fatal accidents in the UK supermajor’s recent history.

Staff shortage could worsen at HSE as more inspectors retire

Fri, 27 Jan 2012 01:46:01 GMT

The UK offshore safety regulator is in the midst of a staffing shortage which, if not halted, could leave its quota of inspectors down by about a quarter, writes Rob Watts.

The legacy of Osprag

Fri, 27 Jan 2012 01:45:43 GMT

The UK offshore industry moved swiftly after the 2010 Macondo blowout to form the pan-industry Oil Spill Response Advisory Group (Osprag) as a focal point to review the country’s oil spill prevention and response measures.

New PMT plan for BG Group

Fri, 27 Jan 2012 01:17:51 GMT

UK-based BG Group has submitted a multi-billion dollar investment plan to the Indian government aimed at maintaining oil and gas production from the maturing Panna-Mukta-Tapti (PMT) offshore fields for the next 10 to 15 years, writes Nishant Ugal.

Global demand drives revenue for big players

Fri, 27 Jan 2012 01:14:48 GMT

OILFIELD services giants Halliburton and Schlumberger each disclosed big gains in revenues and earnings for the fourth quarter and last year thanks to increased global demand.

Apache in deal for Cordillera

Fri, 27 Jan 2012 01:14:43 GMT

Apache is buying Cordillera Energy Partners III in a $2.85 billion cash-and-stock deal that will more than double the US independent’s footprint in the Granite Wash liquids plays, writes Noah Brenner.

Platinum in IPO on NYSE

Fri, 27 Jan 2012 01:14:39 GMT

Platinum Energy Solutions could raise as much as $154 million in an initial public offering of 14 million shares.

Euro and Iran on crude see-saw

Fri, 27 Jan 2012 01:14:35 GMT

Oil prices see-sawed this week, continuing the trend on Wednesday after the US reported a drop in its inventories of refined products.

PetroBakken in Weyburn sale

Fri, 27 Jan 2012 01:14:30 GMT

Canadian junior PetroBakken Energy plans to sell its stake in Saskatchewan’s Weyburn carbon dioxide injection project for C$105 million (US$104 million).

Review bid

Fri, 27 Jan 2012 01:14:26 GMT

Beleaguered Canadian junior Connacher Oil & Gas has engaged Goldman Sachs to begin a strategic review.

Ithaca shares on rise following takeover bid

Fri, 27 Jan 2012 01:14:23 GMT

Ithaca Energy, which trades its shares in London and Toronto, has received a takeover approach.

Degner takes a Global view to earth sciences

Fri, 27 Jan 2012 01:14:17 GMT

WHEN Richard Degner, chief executive of Global Geophysical Services, rang the opening bell on the New York Stock Exchange on 19 December 2011, clanging the brass that day was not just about taking centre-stage in the virtual heart of global finance.�

Lundin seeing output double

Steve Marshall — Thu, 26 Jan 2012 15:46:11 GMT

Swedish indepenent Lundin Petroleum is set to double its production over the next four years, and will probably see it double again when a giant North Sea field comes on stream, its chief executive said on Thursday.

TNK-BP investors 'lose appeal'

Steve Marshall — Thu, 26 Jan 2012 09:27:19 GMT

Minority shareholders in BP’s Russian joint venture TNK-BP have suffered a further setback in their $2.8 billion lawsuit against the UK supermajor after another appeal was rejected by a Siberian court.

Hess runs into the red

Steve Marshall — Wed, 25 Jan 2012 16:33:18 GMT

US oil and gas producer Hess posted a fourth-quarter loss as its production shrank, its operating costs were hurt by drilling failures in Indonesia and it took charges to shut down its Caribbean refinery.

ConocoPhillips sees profits leap

Steve Marshall — Wed, 25 Jan 2012 16:13:59 GMT

US supermajor ConocoPhillips recorded a 70% year-on-year increase in net income to $3.4 billion, bolstered by asset sales and high oil and gas prices.

Range, Leni forge Trinidad pact

Steve Marshall — Wed, 25 Jan 2012 14:10:16 GMT

London-listed players Leni Oil & Gas and Range Resources have struck a partnership agreement to jointly develop their Goudron and Beach Marcelle fields in the Eastern Fields Area of southern Trinidad.

Statoil 'eyes Rosneft tie-up' in Barents

Steve Marshall — Wed, 25 Jan 2012 11:07:38 GMT

Norway’s Statoil is vying for a partnership with Russian state-owned oil company Rosneft to exploit hydrocarbon resources on Russia’s side of the maritime border in the Barents Sea, according to a report.

Hoegh FSRU deal could last longer

Andrew Hobbs — Wed, 25 Jan 2012 09:34:10 GMT

Nowegian contractor Hoegh Liquefied Natural Gas could earn up to $1.4 billion over the next 30 years from its deal to provide a floating storage and regasification unit to Indonesia’s Perusahaan Gas Negara if extension periods are used.

DNO in management revamp

Steve Marshall — Wed, 25 Jan 2012 09:18:01 GMT

The chief executive of Norway’s DNO International, Helge Eide, has retained his position under a management revamp following the company’s merger with UAE-based Rak Petroleum, completed earlier this month.

Seadrill IPO for Brazil spinoff

Andrew Hobbs — Wed, 25 Jan 2012 07:04:57 GMT

Seadrill, the world's biggest offshore oil driller by market value, plans to spin off Brazilian unit Seabras with a share sale worth up to 1.7 billion reais ($971 million) in the first initial public offering of 2012 on the Sao Paulo exchange.

Carnarvon revenues up despite output drop

Josh Lewis — Wed, 25 Jan 2012 05:41:29 GMT

Higher oil prices have helped offset a fall in production to boost Carnarvon Petroleum’s revenue 1% higher during the fourth quarter of 2011.

Drillsearch's revenue takes a hit

Josh Lewis — Wed, 25 Jan 2012 02:52:07 GMT

Australia’s Drillsearch Energy saw revenues slump during the fourth quarter of 2011 as production also took a hit.

ConocoPhillips prices Chinese compensation

Andrew Hobbs — Wed, 25 Jan 2012 02:14:19 GMT

Supermajor ConocoPhillips will allocate 1 billion yuan (US$160 million) to a compensation fund for fishermen in China’s Bohai Bay affected by an oil spill from the Peng Lai 19-3 field late last year.

Yokogawa wins Arrow FEED contract

Andrew Hobbs — Tue, 24 Jan 2012 09:53:55 GMT

A Yokogawa Electric Corporation subsidiary will perform the front end engineering design work for an integrated control and safety system to be built on the Arrow Energy liquefied natural gas project.

Pertamina to spend more cash

Josh Lewis — Tue, 24 Jan 2012 09:04:13 GMT

Indonesian state energy company Pertamina plans to boost its capital spending by more than 40% in 2012, with most of the funds to be used to develop the oil and gas upstream sector.

Cairn withdraws Gammell share plan

Andrew Hobbs — Tue, 24 Jan 2012 08:13:48 GMT

Edinburgh-based Cairn Energy has withdrawn a plan to allocate shares worth �2.5 million ($3.9 million) to chairman Bill Gammell in response to comments made by its institutional shareholders.

SBM money man to step down

Josh Lewis — Tue, 24 Jan 2012 07:32:37 GMT

The chief financial officer of SBM Offshore, Mark Miles, has agreed to step down at the end of his current term.

Transocean provides for Rosa

Andrew Hobbs — Tue, 24 Jan 2012 03:32:32 GMT

Drilling contractor Transocean has provided a generous safety net for chief financial officer Ricardo Rosa, who will leave the company on 30 April.

Oil Search cashes in on oil prices

Josh Lewis — Tue, 24 Jan 2012 03:12:44 GMT

A rise in oil prices has offset a fall in production for Australia-listed Oil Search as the company posted a 25.6% rise in revenue over 2011.

Statoil takes Greenland slice

Josh Lewis — Mon, 23 Jan 2012 08:05:14 GMT

Norway’s Statoil has entered into a farm-in agreement with UK explorer Cairn Energy which will see it gain a stake in the Pitu licence in Baffin Bay, off west Greenland.

Ithaca confirms takeover proposal

Andrew Hobbs — Mon, 23 Jan 2012 07:54:31 GMT

A mystery bidder has made a takeover proposal to Canada-based Ithaca Energy, the company has confirmed to the London Stock Exchange.

Apache buys Cordillera Energy

Andrew Hobbs — Mon, 23 Jan 2012 07:09:34 GMT

US-based Apache Corporation will buy privately owned oil and gas company Cordillera Energy Partners for $2.85 billion, the company has announced.

Israel refusal thwarts Delek plans

Andrew Hobbs — Mon, 23 Jan 2012 06:08:45 GMT

Israeli conglomerate Delek Group said on Sunday that the collateral to back an HSBC loan for its gas exploration units had been rejected by Israel's Petroleum Commissioner.

Perdana Karya Perkasa wins pipeline gig

Josh Lewis — Mon, 23 Jan 2012 04:42:12 GMT

Indonesian contractor Perdana Karya Perkasa has been awarded a 190 billion rupiah ($21.2 million) contract to build gas pipelines for Virgina Indonesia Company (Vico).

Gabrielli replacement rumours mount

Andrew Hobbs — Mon, 23 Jan 2012 04:27:14 GMT

Speculation is mounting over the future of Petrobras chief executive Jose Sergio Gabrielli after a Brazilian TV station aired a report suggesting the way had been paved for a successor.

AWE takes Indonesian double

Josh Lewis — Mon, 23 Jan 2012 02:21:57 GMT

Australia-listed AWE has entered a sale and purchase agreement with Malaysia’s Genting which will see the former gain a 100% operating stake in two production sharing contracts off Indonesia.

Rolls-Royce bags Brazil orders

Steve Marshall — Fri, 20 Jan 2012 16:11:02 GMT

Rolls-Royce has secured a Nkr213 million ($40 million) contract to provide design services and equipment for seven vessels to be used by Petrobras off Brazil.

Rocksource seeks Trident deep pockets

Steve Marshall — Fri, 20 Jan 2012 15:11:59 GMT

Norwegian junior Rocksource is seeking a farm-in partner to take over operatorship of a promising discovery in the deep-water Gulf of Mexico, while looking at possible asset sales on its home turf to fund future drilling off Norway.

Europa exits Romanian concession

Josh Lewis — Fri, 20 Jan 2012 07:55:17 GMT

London-listed Europa Oil & Gas has notified its joint venture partners of its intention to withdraw from the Brodina concession in northern Romania.

Chevron awards duo Sumatra gig

Josh Lewis — Fri, 20 Jan 2012 06:43:09 GMT

A joint venture between Australia’s WorleyParsons and Indonesia’s Rekayasa Industri has been awarded an improvement contract covering oilfields owned and operated by US supermajor Chevron in Indonesia.

Petrobras output on the rise

Josh Lewis — Fri, 20 Jan 2012 02:56:24 GMT

Brazilian giant Petrobras saw overall output from its domestic and overseas assets rise 1.4% in 2011 to reach 2.62 million barrels of oil equivalent.

Seven is the magic number for Petrobras

Fri, 20 Jan 2012 01:40:18 GMT

Brazilian oil giant Petrobras is targeting the lucky number seven in a fresh multi-billion dollar �tender.

Four more deep-water units to be chartered

Fri, 20 Jan 2012 01:40:09 GMT

Petrobras will charter another four extra deep-water drilling rigs to add to its already massive offshore fleet after completing negotiations with several offshore drilling contractors, writes Fabio Palmigiani.

briefs

Fri, 20 Jan 2012 01:40:01 GMT

gulf of mexico

Delays to tender for charters

Fri, 20 Jan 2012 01:39:56 GMT

Petrobras has delayed the date for bid submissions in two separate tenders that call for the chartering of multiple vessels to help the development push in the Campos and Santos basins.

Marlim Leste rig bids in

Fri, 20 Jan 2012 01:39:46 GMT

Petrobras has just received bids responding to a formal market inquiry for the charter of a special rig destined for underbalanced drilling to be used in the Marlim Leste field in the Campos basin.

Sonde seeks partner for exploration efforts at Zarat field

Fri, 20 Jan 2012 01:39:16 GMT

Canadian junior Sonde Resources is looking for a partner at an offshore block in the Mediterranean Sea after receiving a one-year extension on the first phase of its exploration operations there, writes Luke Johnson.

Blowout leaves jack-up wrecked and ablaze

Fri, 20 Jan 2012 01:37:32 GMT

An apparent blowout left a jack-up drilling rig working for US �supermajor Chevron ablaze offshore Nigeria this week.

Three in hunt for TEN deal

Fri, 20 Jan 2012 01:37:14 GMT

Three companies chasing a turnkey contract to supply a major new floating production, storage and offloading vessel for Tullow Oil’s Tweneboa-�Enyenra-Ntomme (TEN) project off Ghana will hear before the middle of this year which one has won the prestigious order, writes Iain Esau.

Chevron kicks off its Makassar contest for two deep-water floating production units

Fri, 20 Jan 2012 01:34:08 GMT

Chevron has started the engineering, procurement and construction contest for the two large floating production units it needs to �develop four deep-water fields in the Makassar Strait off Indonesia.

Eni expecting approval soon for Jangkrik

Fri, 20 Jan 2012 01:33:57 GMT

Italy’s Eni is expected to receive approval from Indonesia soon on a fast-track development of the Jangkrik discovery in the Makassar Strait.

Players teaming up for deep drive off Sabah

Fri, 20 Jan 2012 01:33:36 GMT

Japanese players Inpex and JX Nippon Oil & Gas Exploration have teamed up with Malaysia’s national upstream company Petronas Carigali for two new deep-water exploration blocks off Sabah, writes Amanda Battersby.

Venoco is set to go private

Fri, 20 Jan 2012 01:31:47 GMT

The founder and chief executive of California-focused US player Venoco has succeeded in his bid to take the company private in a deal worth about $750 million.

Asset sales for Denbury

Fri, 20 Jan 2012 01:31:41 GMT

US PLAYER Denbury Resources has signed a $155 million deal to sell a handful of non-core properties in southern Louisiana and Mississippi to privately held Petro Harvester Oil & Gas.

Pembina in acquisition

Fri, 20 Jan 2012 01:31:33 GMT

CANADA’s Pembina Pipeline will acquire Provident Energy for C$3.24 billion ($US3.13 billion), expanding its natural gas liquids distribution.

Players get set for sale of Anadarko’s Brazil assets

Fri, 20 Jan 2012 01:30:27 GMT

Interest in Anadarko Petrol�eum’s Brazilian acreage sale is growing, with sources predicting a competitive bidding round for the post-salt and pre-sale concessions.

Dominion go-ahead

Fri, 20 Jan 2012 01:28:52 GMT

Kenya’s government has given the green light to Dominion Petroleum’s acquisition by Ophir Energy.

Tangier set to list in London

Fri, 20 Jan 2012 01:28:43 GMT

Tangiers Petroleum, whose key assets lie off Morocco and Australia, is set to list on London’s Alternative Investment Market by about 3 February.

Statoil is achieving its goals home and away

Fri, 20 Jan 2012 01:27:57 GMT

Norway, buoyed by an impressive and unexpected spate of success with the drillbit over the past year, has emerged anew as a wildcatter’s dream.

Lund hails overseas landmark

Fri, 20 Jan 2012 01:27:44 GMT

STATOIL chief executive Helge Lund, pointing to the company’s results, its safety record and enormous new discoveries in Norway, thinks “2011 will go down in history as a very good year” for the national oil outfit.

Chevron signs up major offshore exploration deal

Fri, 20 Jan 2012 01:25:25 GMT

Chevron Canada has signed partnership agreements with �Statoil Canada and Repsol E&P Canada to jointly pursue exploration in Atlantic Canada and the Arctic region.

Bakken buoys up figures

Fri, 20 Jan 2012 01:24:50 GMT

PetroBakken Energy reported average production of more than 50,000 barrels of oil equivalent per day in December, a 23% jump from the third quarter of 2011.

Talisman’s PNG plea

Fri, 20 Jan 2012 01:23:52 GMT

Talisman Energy is seeking a partner in Papua New Guinea to help develop the gas reserves it is building up.

Swiber tip

Fri, 20 Jan 2012 01:23:47 GMT

Singapore-listed Swiber Offshore is tipped for a contract with France’s Total for offshore installation work at the Yadana gas project off Burma.

Indonesia deep push for Total

Fri, 20 Jan 2012 01:22:18 GMT

France’s Total has added to its deep-water assets off Indonesia with the acquisition of stakes in three Makassar Straits blocks from Thailand’s national upstream company PTTEP before expected drilling on the acreage, writes Amanda Battersby.

Inpex and Total signal Ichthys go-ahead

Fri, 20 Jan 2012 01:22:09 GMT

Japanese independent Inpex and French energy giant Total have, as expected, sanctioned the Ichthys liquefied natural gas project in north-west Australia at a capital cost of US$34 billion, making it the eighth greenfield Australian LNG project currently to be in the construction phase.

New rules upgrade Leviathan

Fri, 20 Jan 2012 01:21:15 GMT

A change in financial reporting procedures in Israel has seen the recoverable reserves held in Noble Energy’s Leviathan gas discovery increase by 25% to 20 trillion cubic feet, writes Iain Esau.

ConocoPhillips makes room for sands partner

Fri, 20 Jan 2012 01:20:51 GMT

ConocoPhillips is opening up a data room in March in the hopes of attracting a 50% partner in six of its oil sands assets, including its current 12,000-barrel-per-day Surmont steam-assisted gravity drainage project.

2011 fourth quarter earnings expected to drop at Chevron

Fri, 20 Jan 2012 01:20:43 GMT

CHEVRON expects earnings for the fourth quarter of 2011 to be significantly below third quarter results, due primarily to lower refining margins and volumes, writes Anthony Guegel.

Evans and Ogle step up

Fri, 20 Jan 2012 01:20:33 GMT

Canadian junior Connacher Oil & Gas has removed its chief executive Richard Gusella, who had also been taking on the role of president, chairman and interim chief operating officer after other recent departures.

Rockhopper share surge

Fri, 20 Jan 2012 01:20:07 GMT

Rockhopper Exploration saw its shares surge this week on the back of newspaper reports it is in talks with Cairn Energy about a possible takeover.

Nexen

Fri, 20 Jan 2012 01:19:51 GMT

In last week’s edition the story headlined “Nexen on lookout for new boss”, contained two references to Talisman Energy. Both those references, regarding a share price of C$18.60 and interest in the Long Lake thermal oil sands project, were incorrect and should have referred to Nexen. We apologise for the errors.

Chia Surkh gives Genel boost in Iraqi Kurdistan

Fri, 20 Jan 2012 01:19:21 GMT

UK-listed Genel Energy is expanding its upstream exposure in Iraqi Kurdistan by taking over operatorship of the Chia Surkh exploration block from Canada’s Longford Energy and Turkey’s Petoil.

ShaMaran upbeat despite asset sale effort

Fri, 20 Jan 2012 01:18:59 GMT

Canada’s ShaMaran Petroleum is upbeat about its remaining explor�ation assets in Iraqi Kurdistan, despite its decision to suspend operations in two of the company’s operated blocks in the semi-autonomous region.

Ivanhoe seeks Zitong approvals

Andrew Hobbs — Thu, 19 Jan 2012 09:55:06 GMT

Canada-based Ivanhoe Energy is seeking the approvals needed to sell its Zitong block stake, but not before offering a grovelling mea culpa to its current partner in the project.

Prices boost Premier's revenue

Josh Lewis — Thu, 19 Jan 2012 08:30:14 GMT

UK independent Premier Oil is expecting to post higher year-on-year revenue for 2011 as rising oil prices offset a dip in production.

BPE raises exploration funds

Tan Hwee Hwee — Thu, 19 Jan 2012 06:33:23 GMT

Indonesia-focused Black Platinum Energy (BPE) has raised $67 million from private equity investors to fund its share of exploration costs for four of its production sharing contracts.

Judge amends GCCF holdback order

Andrew Hobbs — Thu, 19 Jan 2012 03:24:58 GMT

A federal judge overseeing the BP oil spill multi-district litigation on Wednesday reversed his previous order requiring that 6% of future settlements obtained by claimants with the company's $20 billion fund be held back in a reserve account.

Prices offset Woodside output drop

Josh Lewis — Thu, 19 Jan 2012 02:07:12 GMT

Higher oil prices helped Australian giant Woodside Petroleum generate higher revenue in 2011, despite an 11% fall in production.

Chevron calls off Nigeria search

Andrew Hobbs — Thu, 19 Jan 2012 01:25:35 GMT

Chevron Nigeria has called off search and rescue activities for two contractors who have been missing after a fire started aboard the jack-up KS Endeavor, offshore Nigeria.

Trio submit winning Petrobras FPSO bid

Fabio Palmigiani — Thu, 19 Jan 2012 01:11:39 GMT

A consortium of Brazilian engineering groups has presented the best offer to execute the conversion on four floating production, storage and offloading vessels that will be used by Petrobras on unlicensed acreage in the Santos basin pre-salt province.

Lundin 'lays down Sverdrup claim'

Steve Marshall — Wed, 18 Jan 2012 11:12:00 GMT

Swedish player Lundin Petroleum appears to have surrendered its claim to operatorship of the giant Avaldsnes-Aldous discovery off Norway, which is now renamed Johan Sverdrup.

Tullow, Shell in Atlantic frontier pact

Steve Marshall — Wed, 18 Jan 2012 10:32:25 GMT

UK independent Tullow Oil is teaming up with Anglo-Dutch supermajor Shell in a joint venture for exploration in frontier Atlantic basin plays.

Tullow forecasts bumper year

Josh Lewis — Wed, 18 Jan 2012 09:09:59 GMT

London-listed Tullow Oil is expecting record financial results for 2011 on the back of higher sales volumes.

Exillon bags Timan-Pechora licence

Steve Marshall — Wed, 18 Jan 2012 08:48:49 GMT

London-listed Exillon Energy has bolstered its acreage position in northern Russia with the acquisition of a new licence in the Timan-Pechora region.

CGGVeritas arm buys GRC

Andrew Hobbs — Wed, 18 Jan 2012 07:47:03 GMT

Sercel, a subsidiary of France-based geophysical services company CGGVeritas, has acquired the assets of Tulsa-based Geophysical Research Company, the parent company has announced.

Keppel, Sembcorp deny STX OSV bids

Andrew Hobbs — Wed, 18 Jan 2012 06:46:12 GMT

Neither Keppel Corporation nor Sembcorp Marine was making a bid for a stake in Singapore shipbuilder STX OSV, the companies have told the nation’s stock exchange.

Shale buys boost BHP output

Josh Lewis — Wed, 18 Jan 2012 06:03:05 GMT

The purchase of US shale assets helped boost output from the petroleum business of Australian mining giant BHP Billiton by 36% during the second half of 2011.

Adnoc signs CNPC deal

Andrew Hobbs — Wed, 18 Jan 2012 06:02:51 GMT

United Arab Emirates-owned Abu Dhabi National Oil Company has signed a deal with China National Petroleum Corporation to collaborate in upstream projects in undeveloped areas.

Sepat oil start

Andrew Hobbs — Wed, 18 Jan 2012 04:05:46 GMT

First oil has flowed at the Petronas Carigali-owned Sepat offshore early production system on the east coast of peninsular Malaysia, UK-based Petrofac has announced.

WHL winds down UK plans

Andrew Hobbs — Wed, 18 Jan 2012 03:18:59 GMT

Australia-based WHL Energy will not pursue an option to continue investment in its UK-based wind farm assets, electing to focus on its oil and gas interests.

COSL newbuild runs aground

Josh Lewis — Wed, 18 Jan 2012 01:46:00 GMT

An anchor-handling tug supply vessel being built for China Oilfield Services Limited (COSL) has run aground during sea trials in China's Nantong Wharf.

Lundin raises Norway game

Steve Marshall — Tue, 17 Jan 2012 09:04:47 GMT

Swedish independent Lundin Petroleum is set to boost exploration and development spending off Norway significantly this year after revealing a 40% increase in its budget to $960 million.

Subsea 7 wins Santos contract

Andrew Hobbs — Tue, 17 Jan 2012 07:46:14 GMT

Oslo-listed Subsea 7 has won a $60 million subsea, umbilicals, risers and flowlines contract for work on the Fletcher-Finucane development offshore Western Australia offered by Australia’s Santos.

Singapore takes Reliance stake

Andrew Hobbs — Tue, 17 Jan 2012 05:26:26 GMT

The government of Singapore holds a stake of just over 1% in Indian energy conglomerate Reliance Industries, according to the latest shareholding data released by the company.

Byrne appointed Nido CEO

Andrew Hobbs — Tue, 17 Jan 2012 02:41:37 GMT

Former North West Shelf Australia liquefied natural gas head Philip Byrne will become the new chief executive of Philippines-focused Nido Petroleum

Cairn 'eyes bid for Rockhopper'

Steve Marshall — Mon, 16 Jan 2012 14:19:31 GMT

London-listed Rockhopper Exploration saw its shares surge on Monday following a report that it is in talks with Cairn Energy about a possible takeover deal.

Oil India eyes US shale

Josh Lewis — Mon, 16 Jan 2012 04:57:33 GMT

India's state-run explorer Oil India is in talks with US-based companies, including ConocoPhillips, to buy stake in shale gas assets in the US, its head of finance TK Ananth Kumar said on Monday according to a report.

Dart announces shale spinoff

Andrew Hobbs — Mon, 16 Jan 2012 03:47:57 GMT

Australia-based Dart Energy will spin off its European shale portfolio into a new, wholly-owned entity that will seek to expand the broader company’s shale interests in Asia.

Companies to bid for Anadarko’s Brazil unit

Josh Lewis — Mon, 16 Jan 2012 03:38:47 GMT

Three of Europe's biggest oil companies are expected to bid for Anadarko Petroleum's Brazilian business, according to reports.

Neon in Vietnam farmout plan

Andrew Hobbs — Mon, 16 Jan 2012 02:54:13 GMT

Australia-based Neon Energy has continued its farmout of a stake in two blocks offshore Vietnam after accepting an offer from another company it did not name.

RXT bags Kvitebjorn seismic job

Steve Marshall — Fri, 13 Jan 2012 16:10:56 GMT

Norwegian seismic player Reservoir Exploration Technology has been awarded a $14 million contract to carry out an ocean-bottom seismic survey at Statoil’s Kvitebjorn field off Norway.

Cairn 'in Greenland sale talks'

Steve Marshall — Fri, 13 Jan 2012 14:58:10 GMT

UK oil explorer Cairn Energy is in talks about the possible sale of a stake in its Greenland exploration interests, according to a report.

Statoil 'may exit West Qurna 2'

Steve Marshall — Fri, 13 Jan 2012 14:45:33 GMT

Statoil reportedly may be looking to dispose of its stake in the West Qurna 2 field development project in Iraq as security in the country deteriorates following the withdrawal of US forces amid escalating political tensions.

Technip signs Statoil contracts

Andrew Hobbs — Fri, 13 Jan 2012 06:21:06 GMT

France’s Technip has won two subsea contracts worth €55 million ($70.8 million) for work on two Statoil projects in the North Sea, the company has announced.