Premier Oil has sold interest in six Central North Sea offshore licenses to Hungary’s MOL Group for US$130 million, the duo announced on 30 June 2014. The sale includes non-operated equity stakes in the Nexen-operated Scott (21.84%), Rochelle (15%) and Telford (1…
Statoil opened a new improved oil recovery (IOR) center in Trondheim the same day it announced an R&D-focused strategic agreement between subsidiary Statoil Technology Invest (STI) and Scottish Enterprise. The new IOR center will be the largest center of its kind in the country…
Statoil announced it has awarded a joint venture contract to Technip and DeepOcean for Pipeline Repair System (PRS) Pool services. The contract was sent out on competitive tender by Statoil in December 2013 and will replace the existing one…
INTECSEA will expand into New Zealand, choosing Philip Furr to lead the upstream offshore and subsea business in the country as its new offshore and subsea manager, the company announced on 25 June 2014. Furr will be based in the New Plymouth office…
Eni has entered into a production sharing contract (PSC) with state-owned PetroVietnam for the exploration of Block 122, off eastern Vietnam. The Italian firm’s CEO, Claudio Descalzi, met with PetroVietnam President and CEO, Do Van Hau, in…
Technip has agreed to take a majority stake in Norwegian firm Inocean after entering into a strategic cooperation agreement with the firm, to further develop offshore floater engineering services for the Norwegian continental shelf and other offshore markets worldwide…
Tony Durrant has been appointed CEO of UK-based exploration and production firm Premier Oil, with immediate effect. Durrant replaces Simon Lockett (pictured), who announced his plans to resign from Premier Oil in February this year. Read…
UK-based exploration and production firm Ithaca Energy has agreed to buy non-operated stakes in three producing fields from Sumitomo Corporation. The deal, worth about US$170 million, will see Ithaca take a further 20% interest in the Shell-operated central North Sea Cook field…
Updated 26 June The US House of Representatives passed bill HR6, the Domestic Prosperity and Global Freedom Act on 24 June, after debates held this week. The House Energy & Commerce (E&C) committee approved HR 6, authored and sponsored by Rep…
Statoil will pay COSL Offshore Management (COM) a one-time settlement of US$65 million under an agreement reached today that ends disputes related to the stand-by fees of two semisubmersible platforms. The stand-by fees stemmed from the installation of third-party equipment…
BP and the China National Offshore Oil Corp. (CNOOC) signed a heads of agreement regarding the supply of up to 1.5MTPA of liquefied natural gas (LNG) over 20 years starting in 2019, the supermajor announced on 17 June 2014. The agreement…
Royal Dutch Shell is selling a major portion of its stake in Australia's Woodside Petroleum Ltd., raising AU$5.7billion. Shell is selling 9.5% back to Woodside, and another 9.5% to institutional investors, at a small discount to the closing share price on 16 June 2014…
UK-based exploration firm Faroe Petroleum raised has £65 million in a stock market placing, which had hoped to raised £45 million. The firm, focused on Norway, the Atlantic Margin, and the North Sea, the cash will be used to pursue…
CAN Group announced today that it has secured two major contract renewals, totalling approximately £200million. Along with an increase in business, the two contracts will lead to the safe-guarding of 150 jobs. The Aberdeen headquartered…
KNOT Offshore Partners LP formed an agreement with Brazil Shipping I Ltd., an affiliate of BG Group, for the time charter of shuttle tanker Windsor Knutsen, the company announced on 13 June 2014. The charter has an initial term of two years…
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