Noble Energy Inc. announced that it will propose the election of the company’s President and COO, David L. Stover as a director at its 22 April 2014 organizational meeting, and that it intends to appoint Stover as CEO in October 2014. This decision follows current Chairman and CEO…
Dragon Oil says drilling on the Cheleken Contract Area in Turkmenistan has been delayed and will be weighted towards H2 this year, with a total 14-16 wells due to be drilled. The Cheleken Contract Area covers about 950sq km and comprises two offshore oil and gas fields…
Saipem has been contracted by South Stream Transport for the construction of the first line of the South Stream Offshore Pipeline, from Russia to Bulgaria across the Black Sea, for a total value of about US$2.7 billion. The South Stream…
Shell and its partners on the Ormen Lange license have postponed plans for a ground-breaking compression project on the giant field, halting ongoing concept select work, citing costs and reservoir data. Ormen Lange, Norway’s second largest field and producing since October 2007…
Castrol oil blend, 220C, at 4 weeks, with anti-corrosion additives. Its color clarity indicates that it is stable after exposure to high temperatures. A new environmental lubricant supports keysubsea boosting and compression technology…
The supervisory board of South Stream Transport BV approved the signing of a construction contract for the South Stream Offshore Pipeline on 11 March 2014, a day after European Union Energy Commissioner Guenther Oettinger was quoted by German daily newspaper Die Welt…
Abu Dhabi National Energy Co.'s (Taqa) capital expenditure for 2014 will be between $2 billion and $2.5 billion, 'a little less than in 2013,' the company's chief executive, Carl Sheldon, said during a conference call on 25 March. Taqa reported a net loss of 2…
Statoil has signed an agreement to farm down a 15% interest in WRG Angola Block 39 Ltd. offshore Angola in the Kwanza pre-salt basin. WRG is a 50/50 joint venture comprising White Rose Energy Ventures and Genel Energy plc. Statoil is operator of the block…
Aker Solutions’ former well intervention services business, which was acquired by private equity fund EQT VI in January this year, has been restructured and will operate under two brands from 22 Apr 2014: Altus Intervention and Qinterra Technologies…
North Sea independent EnQuest plans to spend about US$1 billion on new projects in 2014, including about $400 million on the Kraken FPSO development. A further $200 million will be spend on the Alma/Galia development, due on stream in H2 this year…
Austrian integrated energy firm OMV has boosted its UK west of Shetland holdings after agreeing to buy four licenses in the area from Hess, including the Cambo field and the Blackrock prospect, for US$50 million. Depending on future developments…
Tidal energy developer, Oceanflow Energy, has attracted a £300,000 package of support to further develop and commercialise its second generation tidal energy device, Evopod. The company has developed and patented a technology to generate electricity from tidal streams and ocean currents…
The Shah Deniz and South Caucasus Pipeline consortia have awarded key contracts for the development of the Shah Deniz Stage 2 and South Caucasus Pipeline Expansion (SCPX) projects. The contracts, covering project management services and construction…
Wrench time has been highlighted as one of the key areas the UK offshore oil and gas industry needs to address to improve production efficiency levels. Average wrench time - the amount of time spent working on a mechanical project, either…
France-based GDF Suez announced that the Juliet field in the Southern Gas Basin is now producing at its plateau rate of 80MMsqcfg/d. This is the equivalent to 400,000bbl/month. The fast track project has been executed and successfully…
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