BW Offshore has signed a letter of intent to acquire 30% of the Polvo oil field in Brazil. Following the ongoing sale of BP's stake in the Polvo field to HRT Participações em Petróleo S.A. (HRT), BW Offshore has the intention to acquire half of HRT's stake…
Petroliam Nasional Berhad (PETRONAS) has announced a new gas discovery offshore Malaysia and the award of a three year integrated offshore installation contract. Operator on Block SK320, Mubadala Petroleum, discovered gas in the Sintok-1 well…
Total has signed an exploration and production-sharing agreement for deepwater Block 41 with Oman's Ministry of Oil & Gas, the company announced today. The block is off the northern Omani coast, northwest of the capital, Muscat. It spans 23…
Marathon Oil has said it is to start marketing its UK North Sea and Norway assets as part of a continued portfolio optimization strategy. Marathon Oil president and CEO Lee Tillman said the move came as the business was focusing activity on US resource plays…
Keppel FELS Ltd has said it is to start building its CAN DO drillship design, with a 2016 completeion date. No secure contract has been secured for the vessel yet. Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M)…
GE's Power Conversion business is to supply of dynamic positioning (DP) for a floating accommodation unit being built by Cosco (Nantong) Shipyard in Nantong City, China. The vessel is being built for Logitel Offshore, the Singapore-based floating logistics and accommodation rig owner…
Following a competitive tender process, Bristow Helicopters Ltd. has a significant new contract to provide helicopter transportation services to BP Exploration Operating Co. Ltd. The contract has a five-year term, with an option to extend…
Inpex Corp. said its Naoetsu LNG terminal in Joetsu City, Niigata Prefecture, Japan, began operations ahead of schedule on 1 Dec. The main facilities include two above-ground LNG tanks with storage capacity of 180,000kl and a berth for unloading a 210…
Milan-based Saipem announced an agreement with Eni for the sale of the Firenze FPSO (Floating Production Storage and Offloading) business line for €336 million (US$464 million). The agreement includes the Firenze FPSO unit, the on-board processing plan…
Heerema Fabrication Group’s (HFG) Vlissingen yard in the Netherlands celebrated the first steel cut on the Gina Krog jacket, the largest launch jacket built at HFG. The 17,000-ton jacket is being built for Statoil Petroleum AS and is…
Rolls-Royce is to supply Abu Dhabi Marine Operating Company (ADMA-OPCO) with power generation equipment and services to help boost oil and gas processing at the Satah Al- Razboot (SARB) offshore project in the United Arab Emirates (UAE). The contract was awarded by Korean engineering…
EOC Ltd. announced that its Perisai Kamelia FPSO successfully completed startup and commissioning at Hess' Kamelia field in the North Malay Basin, offshore Malaysia. The FPSO is under contract to fast-track natural gas production at the field…
A group comprised of 17 oil and gas companies, led by Statoil, has established a project for joint seismic acquisition in the southeastern Barents Sea. At the request of the Norwegian Ministry of Petroleum and Energy (MPE), the industry…
Oil and gas companies will spend about US$723 billion on exploration and production (E&P) in 2014, an increase of 6.1% from 2013, Barclays Bank said in a report. Major oil companies are slowing spending growth as they put more emphasis…
BG Group has said its latest drilling campaign offshore Tanzania has increased its resource base across its three Tanzanian blocks to 15Tcf natural gas. BG Group said Blocks 1, 3 and 4, which it operates, with partner Ophir Energy, also had further exploration upside…