PTTEP and Pertamina signed a 50:50 joint venture to buy Hess' assets off Indonesia for US $1.3 billion. The companies will gain 75% stake in Pangkah field and 23% in the Natuna Sea A field. The Pangkah transaction will be finalized in Q1 2014…
ThoughtStream: Opinion The shift in oil demand from industrialized to emerging economies is one that we at Dana Petroleum know only too well. An impressive North Sea success story with modest but ambitious beginnings in Aberdeen in the mid-1990s…
Fugro announced that it has wholly-acquired Advanced Geomechanics Pty Ltd. (AG) to become part of its global geoconsultancy practice. The nearly 20-year-old, Perth-based AG provides geotechnical and geophysical engineering and consulting services…
PetroVietnam has signed new agreements with India's ONGC Videsh, and Russia's Rosneft. PetroVietnam's new memorandum of understanding with ONGC Videsh extends one previously signed in 2011. The MOU covers the joint exploration of hydrocarbons in Vietnam and India…
Twenty-one companies have dropped out of the final cycle of bidding in the Myanmar offshore license round, Reuters news service reported on Friday. The licensing round offers 30 offshore areas, including 11 shallow water blocks and 19 deepwater blocks…
Mammoet released this video detailing the load out of the Bien Dong topside, a 12,000 ton structure, destined for its home in the Nam Con Son basin offshore southern Vietnam.
Rosneft, Gazprombank, Sovcomflot and Korean shipbuilding company Daewoo Shipbuilding & Marine Engineering Co. (DSME) have signed a Memorandum of Understanding on key terms of cooperation to establish shipbuilding and industrial cluster in the southern part of Primorskiy Krai (Russian Far East)…
Natural gas from future multi-train LNG developments in Tanzania could now be destined for Asian markets. Singapore-based investor Pavilion Energy is to take a 20% in the joint venture partnership looking to develop natural gas finds in Blocks 1…
Norwegian private equity group HitecVision AS is to invest US$92.6million in Singapore-based Energy Drilling Pte Ltd. The deal will see Hitecvision take a majority stake in the company and it will ensure delivery of Energy Drilling Pte…
Since the turn of the millennium, global pipeline investment has undergone sustained and, in recent years, robust growth as a result of favorable market conditions and industry trends, including: the continued high levels of investment in offshore development…
Laissez les bons temps rouler. Deep in the heart of Louisiana oil country, US representatives from two Asian trade organizations made the case for local investment at the 2013 Louisiana Gulf Coast Oil Exposition (LAGCOE), held in Lafayette…
Production at Indonesia’s Ruby field kicked off Oct. 27. The field has been in development since June 2011 and is expected to produce natural gas at a rate of 17,000boe/d. Located within the Sebuku Production Sharing Contract (PSC) 300km south of Balikpapan City…
Transboundary may head to committee The US Senate bill ratifying the US-Mexico Transboundary Hydrocarbon Agreement, S. 812, is reportedly on its way to a conference committee. The Senate’s version of the bill, passed last month (October)…
Prosafe has agreed a letter of intent (LoI) with COSCO (Qidong) Offshore Co. Ltd. for the engineering, procurement and construction of two semi-submersible accommodation vessels, with options for four further units. The vessels will be…
Keppel FELS Limited (Keppel FELS) has won a US$1.1 billioncontract from Transocean Ltd. (Transocean) to build five KFELS Super B Class jackup rigs. The rigs are scheduled to be delivered between Q1 2016 to Q3 2017. In addition, Transocean…
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