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TAQA boosts CAPEX in 2012

TAQA, the Abu Dhabi National Energy Company, UAE, has announced to increase capital expenditures from $1.9 billion in 2011 to $2.2 billion in 2012. These investments will go to expend on going...

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Lundin $4.2 billion Edvard Grieg oil field development approved

Lundin Petroleum received the formal approval from the Norwegian Ministry of Petroleum and Energy to proceed with the $4.2 billion plan development and operation (PDO) of the Edvard Grieg oil field....

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Rosneft and Statoil sign for Barents & Okhotsk Seas Exploration

After ExxonMobil and ENI, Rosneft extends its domino strategy to Statoil Rosneft and Statoil signed a cooperation agreement to jointly explore offshore and onshore fields in the Russian sections The...

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GS Caltex, Showa Shell and Taiyo go for Korean Paraxylene

MoU for 1 million t/y Paraxylene extension in Yeosu Showa Shell Sekiyu K. K. (Showa Shell) from Japan, GS Caltex from South Korea, and Taiyo Oil from Japan signed a Memorandum of Understanding (MoU)...

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KITIMAT LNG to pioneer Canadian LNG Export to Asia

Apache, EOG and Encana lead British Columbia gas development for export The Kitimat LNG project started in 2006 with the signature of a partnership agreement with the Haisla First Nations It took a...

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Maersk’s Chissonga FPSO to neighbour Girassol

Doris to work on Maersk Chissonga FEED Maersk Oil (Maersk) , a fully owned subsidiary of A.P. Møller – Mærsk A/S operates the Block 16, which includes the Chissonga discovery. Chissonga is located in...

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Turret

Definition Turret is the major component of a vessel or any floating production unit (FPSO, FPO) to which the risers coming from the seabed are connected. Turret name refers the rotating function of...

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Chevron selects new-built Rig and FPSO for $ 6 billion Rosebank

Chevron to award FEED for Rosebank FPSO The Rosebank oil and gas field discovery is located on Blocks 213/26 and 213/27,  in the Faroe-Shetland Channel, 130 km northwest of the Shetland Islands in...

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Statoil launches Svalin $750 million project on fast-track

Statoil, Petoro and Exxon to tie-back Svalin to Grane Svalin is made of two fields, Svalin M which was discovered in 2008 and Svalin C which was discovered in 1992. Svalin is located in Block 25/11 in...

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Tie-Back

Definition Tie-back in the offshore oil and gas upstream activities refer to the connection of additional risers to the floating vessel or platform. Comments Originally the offshore oil and gas...

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Shell and ExxonMobil awards Fram FPSO to SBM

SBM will supply, lease and operate a converted FPSO The Fram field is located in United Kingdom continental Shelf (UKCS) including the Blocks 29/3c, 29/4c, 29/8a and 29/9c in the central North Sea,...

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CNOOC and Sinopec to pump $20 billion in upstream acquisitions

CNOOC and Sinopec target Nexen and Talisman assets July 23rd 2012, the Chinese CNOOC Ltd (CNOOC) announced to have signed an Arrangement Agreement with Nexen for the acquisition of the Nexen shares...

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Continental Shelf

Definition Continental Shelf  (CS) refers to the part of the seabed sloping gently between the coast and the deep ocean. Geographically and legally the definition of the Continental Shelf is different...

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ConocoPhillips moves on its first Floating LNG vessel

ConocoPhillips to merge Offshore experience and Cascade LNG know-how into its first Floating LNG In 1969 the ConocoPhillips Company (ConocoPhillips) pioneered liquefaction of natural gas (LNG) with its...

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OMV in brief

An international oil and gas company  Based in Vienna, OMV Aktiengesellschaft  (OMV) is one of Austria’s largest listed industrial companies with 29,800 employees in 2011 Historically, OMV is an...

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Statoil and Wintershall swap strategic assets in North Sea

BASF to accelerate upstream business with Wintershall BASF‘s oil and gas subsidiary Wintershall from Germany and Statoil from Norway signed an agreement to swap strategic assets in the North Sea and...

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BASF in Brief

We create chemistry for a sustainable future. Established in 1865, in Mannheim, Germany, under the name of Badische Anilin- and Soda-Fabrik, BASF’s first factory was finally built on the other bank of...

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WorleyParsons in brief

Resources and Energy With Headoffice in Sydney, New South Wales, Australia, WorleyParsons was established in 2004 from the acquisition of the Californian engineering company Parsons E&C by the...

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Gazprom opens North Pole sea route with first LNG carrier

Gazprom first LNG shipment from Norway to Japan Gazprom prepared and implemented successfully the first shipment of liquefied natural gas (LNG) through the freezing Northern Sea Route (NSR) around the...

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US Government to replace WTI for crude oil prices benchmark

EIA to adopt North Sea Brent crude oil as benchmark US Government energy agency, the Energy Information Administration (EIA) published in its annual energy out look its decision to replace the...

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BP to increase capital expenditure to $27 billion annually by 2020

BP to focus on crude oil Exploration & Production  UK major BP PLc (BP) is planning to increase its capital expenditure per year from $19 billion in 2011 and $22 billion in 2012 to $24 billion in...

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Maersk to expand DUC in Danish North Sea with a new ptaform

Maersk awards Tyra Southeast production platform  AP Moeller – Maersk (Maersk) and its partners in the Danish Underground Consortium (DUC), Shell, Nordsofonden and Chevron have decided to invest $800...

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Chevron awards FPSO for $6 billion Rosebank project in UK North Sea

Hyundai Heavy Industries (HHI) wins Rosebank FPSO The super major Chevron from USA and its partners, Statoil from Norway, OMV  from Austria and Dong from Denmark, have awarded the Floating Production,...

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Petronas to start Baram Delta Gas Gathering project development

Malaysian RNZ wins FEED contract on Bardegg-2  The national oil company (NOC) Petronas selected the local engineering services provider RNZ Integrated (RNZ) to perform the front end engineering and...

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Total, Gazprom and Tecpetrol to monetize Bolivia gas discoveries

Total made final decision to develop Incahuasi gas field The French major company, Total and its partners, Gazprom from Russia and Tecpetrol de Bolivia (Tecpetrol), made the final investment decision...

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UK new tax policy triggers North Sea Kraken heavy oil development

EnQuest to award Kraken FPSO to Bumi Armada The Scottish joint venture made of Aberdeen-based EnQuest and First Oil plc ( First Oil) companies together with the Edinburgh-registered Cairn Energy plc...

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One Day – One Country: Norway – UK North Sea

Statoil and Chevron review costs in North Sea projects In 2013, shortly after that Norway had weighted its tax policy on oil and gas companies operating in the Norwegian North Sea, UK did the opposite...

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BP Atlantis to inspire Mad Dog-2 platform in US Gulf of Mexico

BP to re-tender Mad Dog 2 FEED on Atlantis concept BP is preparing the second call for tender on the front end engineering and design (FEED) for the Mad Dog-2 offshore platform based on the...

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