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Worley Parsons informed that as a part of its JV with BP Plc, it has planned on taking 50% shareholding in New Zealand Oil Services (NZOSL).Under the deal between Worley Parsons and BP Oil New Zealand, NZOSL will assist with engineering, project delivery and asset management services for BP’s 7 fuel storage, handling and distribution facilities in New Zealand. Worley Parsons will become the preferred contractor of NZOSL.
The CEO of energy major, BP informed that the company will start the exploration in Libya with Eni in the first quarter of next year. He said that the set of offshore rig takes time and that is why he is not sure if the activity will start this year. In October, Eni bought 85% of BP’s stake in Libya oil and gas license.
The fourth major upstream project for BP this year has started production. The energy major announced that the Thunder Horse Northwest Expansion project in the deepwater Gulf of Mexico has been started and is four months ahead of schedule. Further, the project is 15% under budget too. BP has predicted that its new projects starting production between 2016 and 2021 will have 900,000 boed of new production by 2021.
Europe’s Prosafe has been awarded a £14.3million contract by BP. Prosafe will grant the charter of the Safe Zephyrus accommodation vessel at the Clair Ridge platform. The contract is of five-month and will start from May next year. The contract has an extension option of one month. CEO of Prosafe said “The Safe Zephyrus’ track record of gangway connected operations is second to none since her delivery in 2016,”
Serica Energy yesterday informed about receiving waiver on US sanctions for the UK North Sea field. The conditional licence has been granted on production from the Rhum field, where 50% stakes are owned by the national oil company of Iran. Serica’s purchase of BP’s stakes in Bruce, Keith and Rhum assets and Total’s stakes in Bruce and Keith assets were on hold due to US sanctions on Iran.
Due to safety concerns and the revolution in 2011, BP denied exploration services in Libya in 2014. The energy giant has announced that it has entered into an agreement with Libya’s National Oil Corporation (NOC) and Eni in order to resume the exploration. The deal will be closed by the end of this year so that the exploration work can be restarted in 2019.
Aker Solutions has informed that the company has entered into a five-year agreement with BP in Angola, effective from Q3 of present fiscal year. The contract will see Aker Solutions supply brownfield modifications, maintenance and operations support for BP’s Greater Plutonio and PSVM fields offshore Angola. Aker will also provide engineering, procurement, and construction services on the floating production, FPSO vessels at each field for brownfield projects.
Supermajor, BP and Aker BP have inked new agreement to explore ways of developing pioneering new technologies together. The firms are looking forward to invest in technological advancements together. This includes taking further the technology of digital twins, advanced seismic techniques and processing, and subsea and robot technology. The oil majors will focus on recognising technologies that could be essential to the digital transformation of the upstream sector.
British oil major, BP has received green light from the Oil and Gas Authority (OGA), UK to develop the Vorlich Field in the North Sea. The Vorlich field is estimated to contain 30 million barrels of oil equivalent. Vorlich will be a £200m project and is part of a programme of North Sea subsea tie-back developments. The field is expected to begin production in 2020.
In a regulatory filing, RIL yesterday informed that the firm has shut down its only oilfield in KG-D6 block, due to null production. The D26 or MA oilfield began production in September 2008. RIL was operating the oilfield in a joint venture with BP and NIKO. In the first quarter of FY19, MA field’s contribution was less than 0.1% in terms of revenue at RIL consolidated level.
The three weeks off, three weeks on rotas are affecting the mental health of the employees and because of this reason, the Unite trade union wants a review of the working patterns on BP’s North Sea. The union and Petrofac have raised a “collective grievance” for the same. BP has acknowledged the issues faced by the workers and said, the company is “committed to supporting mental health in the workplace”.
British supermajor, BP Plc is utilising a technology used by Scotland Police to construct data-rich virtual replicas of its oil and gas platforms in a bid to reduce costs. Scotland Police uses the sophisticated 360-degree imaging programme to document crime scenes, which in turn enables detectives to virtually revisit a crime scene. The oil major will roll out the programme across the majority of its platforms after the North Sea.
After BP, oil giant ExxonMobil has now entered into an agreement with the Alaska Gasline Development Corp. for the Alaska North Slope natural gas sale. The sale will be to a state-sanctioned corporation who wants to build a LNG project worth $34 billion, including 800-mile pipeline. Currently, Alaska Gasline is negotiating with ConocoPhillips for the same. These three oil majors are intended to be a part of this project.
The merger of PKN Orlen and Grupa Lotos, two largest refineries of Poland, is a matter of concern for BP. According to the London’s oil major, this merger can halt the market competition in the east European country. If the sources were to be believed, BP can choose from its options and can file a complaint with European or Polish authorities regarding this matter.
ANP, oil industry regulator of Brazil has permitted 6 energy companies, Shell, Total, BP, DEA of Germany, CNODC Brasil Petroleo e Gas Ltda of China and QPI from Qatar to bid for four pre-salt blocks located in the Campos and Santos Basins. The auction will be on Sept. 28. The fifth pre-salt round will be the final chance for the companies to lock Brazil’s offshore oil deposit stakes.
Oil Search Ltd has informed that the Papua New Guinea LNG project has entered into an agreement to supply liquefied natural gas (LNG) to British oil supermajor, BP. In a statement released yesterday, Oil Search said that about 450,000 tonnes of LNG will be supplied annually to a BP unit, over an initial three-year period. The firm did not disclose any deal amount.
The International Tribunal which heard the Reliance-ONGC row has rejected BP Plc’s claim to any legal cost from the Government of India. The bench ordered the Indian Government to pay USD 8.3 million to Reliance Industries for covering the legal cost. The panel, earlier, gave the verdict in favour of Reliance saying it could produce and sell any gas that migrated from adjoining fields of state-owned ONGC into its area.
Shell and BP Plc, in two different deals, are looking to acquire leading petroleum dealers in Rwanda. Royal Dutch Shell’s African operation, Vivo Energy is in talks with Engen to procure all the firm’s operations and its service stations in Rwanda. BP Plc will be acquiring majority stakes in one of the important distributors and importers of petroleum products informed the source.