BP has pulled out of Yacheng gas field in the South China Sea, selling its 34.3% stake to KUFPEC, a subsidiary of KPC, for US$308 million. Pending approval by CNOOC, the deal is expected to close 2H 2013.
Singapore’s Kreuz Subsea took possession of a new Saab Seaeye Panther XT Plus ROV displayed at OSEA 2012. Saab Seaeye boosted the ROV’s power management, offering 50% more power and reduced its size, requiring less deck space. Its 10 thrusters allow operation in currents greater than four knots…
Natural gas is still not a global fungible commodity, although the LNG trade steadily grows as projects and the global fleet expand. ExxonMobil thinks that worldwide natural gas use will grow more than any other fuel – by 65% over the next 30 years…
Study assesses FLNG project options off IndiaWorleyParsons has been awarded a significant pre-FEED study by the Andhra Pradesh Floating LNG Terminal developers, GDF SUEZ and Andhra Pradesh Gas Distribution Corporation (APGDC). The pre…
The Atwood Advantage dockside at Daewoo’s yard in South Korea.The newest ultra-deepwater drillships joining the fleet this year will be capable of working in 12-14,000ft (3658-4267m) water depths and drilling to 40,000ft. Ultra-deepwater…
Eni has acquired a 25% stake and operatorship in an ultra-deepwater block off Pakistan. Block G in Pakistan’s Indus Basin comprises approximately 7500km2. Eni currently holds participating interest in adjacent Indus block C (60%) and block N (70%).
Expro has landed its first subsea supply contract in India. The three-year contract involves the supply of two 73/8in electro-hydraulic completion landing strings systems and two sets of topside controls equipment.
Liuhua 11-1 (Photo: CNOOC)Production starts at two S. China Sea fields CNOOC Limited announced that Panyu 4-2/5-1 oil field adjustment project and Liuhua 4-1 oil field located in the Pearl River Mouth Basin of South China Sea, successfully commenced production…
Wartsila will design six new ships for COSL Wärtsilä, the marine industry's leading solutions and services provider, has signed a contract with China Oilfield Services Ltd (COSL) to supply the designs for a total of six new ships. The two…
Prime Minister Stephen HarperCanada grants approval for Nexen, Progress grabsThe Canadian government announced on Friday that it would approve two controversial investments in local firms by foreign state-owned companies.Minister of Industry…
Weatherford International officially opened a new strategic base for Asia Pacific operations in Singapore last month to meet increasing demand for services across the region. The four-storey facility brings together the company’s 300-strong…
InterMoorInterMoor opens Loyang mooring equipment yard InterMoor, an Acteon company, has opened its new mooring equipment yard at Loyang offshore supply base in Singapore. The new facility provides mooring equipment storage and an ideal support location for maintenance…
Noble Regina Allen Illustration89 workers hurt after newbuild jack-up lists 89 workers were hospitalized following an accident at Jurong Shipyard in Singapore on 3 December 2012.The workers were onboard the Noble Regina Allen jack-up rig…
Photo: ExproExpro has been awarded its first major subsea completion landing string contract in India, the company announced on 26 November 2012.The three-year contract comes with options to extend for another two years. The scope of work…
China is on track to reach levels of oil use on par with today’s US demand by 2040, according to a new study by the James A Baker III Institute for Public Policy at Rice University in Houston.The study, The Rise of China and Its Energy Implications…
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