fetching latest news
News tagged in:
Neptune Energy and BP have awarded Seagull development contract to TechnipFMC. Seagull North Sea development is a 50 million barrel project. Under the scope of this deal, the EPC giant will provide engineering, procurement, construction and installation (EPCI) services in a Target Cost contract. The offshore construction campaign is slated for commencement in the second quarter of 2020.
BP's Chief Executive has informed that both RIL and BP will be together investing $5 billion on three gas development projects. These projects are located in the Krishna-Godavari (KG) basin. “Strong relationship between BP and reliance is another great example of what can be achieved by working together at scale", said Looney. Under the latest OALP, the companies have also won an ultra deep-water offshore block in the KG basin.
One of the BP-run oil tankers is sheltering inside the Persian Gulf amidst fears of Iranian retaliation to the arrest in Gibraltar last week. The British Royal Marines seized a vessel hauling the Islamic Republic’s crude. BP-chartered British Heritage was on its due course towards Basrah terminal when it made an unexpected turn on July 6. BP is thought to be concerned about becoming a target of Iranian retaliation.
Nayara Energy has raised $750 million through an offshore loan. It has planned to reduce the company's cost of debt and strengthen its balance sheet with this money. According to a source, "The deal structure allows Nayara to leverage its regular export flows to optimise its capital structure and liability profile”. The loan is termed as Prepayment Finance Facility. Under this deal, Nayara will deliver gasoil to BP and Trafigura.
UK-based EnQuest yesterday informed that it will shed around 80 of its employees deployed at the Sullom Voe Terminal by the end of 2019. EnQuest regarded the move as “essential” to maintain the competitiveness of the oil terminal and empower it to retain and win new business. The employees expected to be dropped consists of around 60 full-time staff members and 20 contractors.
Kosmos Energy and its partners have discovered gas at the Greater Tortue Ahmeyim-1 well (GTA-1) in the Albian reservoir. The GTA-1 well was drilled using the Ensco DS-12 rig. The Greater Tortue Ahmeyim gas project is situated offshore Mauritania and Senegal. The LNG project is expected to yield first gas in the first half of 2022.
Climate group, Greenpeace has ended a 12-day standstill with oil supermajor BP. Greenpeace had forced BP-contracted Transocean drilling rig to cancel on its journey to Vorlich field several times over the past week. With the campaigners blocking the track with an icebreaker ship and two inflatable launches, BP suffered a loss of over £1.5 million.
Protests from Greenpeace activists continue at Transocean’s drilling rig on Friday to prevent it from heading to a BP oilfield in the UK North Sea. A statement released by Greenpeace read how police had removed and arrested two Greenpeace activists on Thursday night. Friday saw another couple of Greenpeace activists climbing up a leg of the rig. BP has said that it is coordinating with Transocean and Scottish police.
C-Innovation has received a contract to perform riserless light well intervention (RLWI) activities for BP in the Gulf of Mexico. The initial contract includes both mechanical and hydraulic acid stimulations which will be performed by C-I’s flagship Gulf of Mexico assets. Subsea Manager of C-I said, "We look forward to continuing to grow our relationship with BP by offering unique and cost-effective turnkey solutions”.
Energy major BP along with Reliance Industries Ltd. will develop their deepwater gas field project in India. In the last two years, both the companies have sanctioned development of two other projects. All three projects are expected to require an investment of approximately 350 billion Indian rupees. The development of about 3 trillion cubic feet of discovered gas resources is expected from the projects.
For an undisclosed sum, BP has agreed to sell its interests in the Gulf of Suez oil concessions in Egypt to Dragon Oil based in Dubai. As per the agreement, Dragon Oil will purchase exploration and production concessions, including BP’s assets in GUPCO (Gulf of Suez Petroleum Company). BP’s CEO said in a statement, “Egypt is a core growth and investment region for BP”.
A new, five-year contract with BP has been announced by the Bristow Group to support its North Sea operations. “We recognise BP has placed its trust and confidence in Bristow and we are committed to maintaining the highest safety standards every day and at all times”, says the director of UK and Turkmenistan oil and gas. This contract adds further credibility to Bristow’s success in the region.
Vroon Offshore, the operator of ERRVs in the North Sea has been awarded a multi-year contract by BP. It will provide three specialist vessels, VOS Gorgeous, VOS Fabulous and VOS Grace to support BP's operations in the Caribbean. MD of Vroon commented, "The award of this major contract, which further strengthens our relationship with BP, underlines their appreciation of the benefits of implementing the proven North Sea ERRV model".
Oil and gas group, BP's annual shareholder meeting on Tuesday was disturbed by the protestors. “this is a crime scene” was the frequent noise disrupting the meeting. Shell, on the other hand, has been praised by the investors for its recent emissions policies. Both the companies are working with the shareholders to meet the 2015 Paris climate agreement. BP's overall carbon emission were the highest in 2018 in six years.
In a statement yesterday, CEO at Nayara Energy said that the firm has concluded a $750 million pre-payment deal with BP and Trafigura. The deal will require Nayara Energy to repay the two firms with the supply of gasoline and gasoil over the course of the next four years. Nayara, formerly known as Essar Oil, was acquired in 2017 by Rosneft-led consortium where Russian fund UCP and Geneva-based Trafigura are partners.
Energy giant Shell has informed about its ongoing talk with BP to procure its Shearwater oil and gas field stakes in the British North Sea. The cost of acquisition will be $250 million. In Shearwater, Shell holds 28% stake, BP has 27.5% and the remaining 44.5% stakes are held by ExxonMobil. The gas export capacity of Shearwater at the time of peak production is expected to be 70,000 boped.
Oil supermajor BP has awarded a drilling and engineering contract to the Turan Drilling & Engineering Company LLC, a joint venture between KCA Deutag and SOCAR AQS. The contract award builds on the successful local content development strategy by BP. The scope of the contract includes offshore operations and maintenance activities for BP-operated rigs in the Azeri-Chirag-Gunashli (ACG) oil and Shah Deniz gas fields.
BP has awarded contracts for the Greater Tortue Ahmeyim natural gas project to McDermott International and BHGE. Both the companies have received contracts for subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment. BHGE's VP said, "Together with McDermott, we will deliver the best-in-class solution to BP with cost-efficiency and industry-leading safety". The preliminary subsea infrastructure will connect the first four of 12 wells.