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Oil and gas producer, Chesapeake Energy Corp has been slapped with a $48.8 million lawsuit by Pipeline operator Glass Mountain LLC for allegedly defaulting on an oil transportation contract. Shale gas pioneer, Chesapeake had earlier borrowed aggressively to buy and drill properties and started making losses as gas prices toppled. A Chesapeake spokesman didn't respond to requests for comment.
Poland's, PGNiG has decided not to renew the major contract with Russia's Gazprom after it ends in 2022. The company has already notified Gazprom about its "intent to terminate" the contract. This Yamal contract was started in 1996. Currently, two-third of the gas consumed in the nation is delivered by Russia under Yamal. Poland has been long wanting to seize its dependency on Russian gas.
Vitol signed a contract with H-Line and agreed on the execution of a 10-year time charter agreement with a latest LNG carrier. It is a 174 000 m3 vessel which has XDF propulsion and is due for delivery in late 2021. Vitol's LNG head said, "This allows us to optimise our LNG portfolio that includes increasing FOB volumes from different areas that we are actively marketing to our global clients”.
Operational Excellence (Opex) Group has backed a multimillion pound contract with Cnooc. It is a three-year deal for Cnooc International's North Sea assets. Opex will roll out its predictive analysis technology at the Buzzard, Golden Eagle and Scott platforms. Also, ts X-pas service will use data science to monitor all the installations. "We are pleased to have extended our scope across the company’s UKCS assets", said Chief Executive of Opex.
PetroLogistics ll has awarded Gulf coast PDH project FEED contract to Mcdermott International. McDermott will perform the front-end engineering design services for a propane dehydrogenation (PDH) facility at the US Gulf Coast. The design basis of the plant is 500 KTA. "We will pull from our vast expertise in engineering to complete the FEED", said McDermott's Senior VP.
Subsea inspection, maintenance and repair (IMR) firm N-Sea has won three contracts in the Middle East. The combined worth of these contracts is about £12 million. The company has also been chosen for a saturation diving campaign for spool, clamp and riser installations. Headquartered in the Netherlands, apart from offering services to oil and gas, the company also serves the renewable sector.
McDermott has received technology contract from oil guzzler, Indian Oil Corporation Limited (IOCL). The contract pertains to the development of a grass-root Fluid Catalytic Cracking (FCC) unit. It will include technology license, basic engineering, proprietary equipment, training and technical services. The FCC unit will use INDMAX Technology, licensed by McDermott's Lummus Technology and developed in partnership with IOCL.
Schlumberger has been awarded a 20-year subsea equipment and services master contract by Chevron. This contract is for subsea development projects in the Gulf of Mexico. Innovative technologies will also be included in the OneSubsea custom catalog of equipment. “We look forward to continuing our technology collaboration with Chevron to optimize project efficiency and reduce cycle times in its future Gulf of Mexico subsea projects", said OneSubsea's President.
Canada has signed its first binding supply agreement with China. A small-scale Canadian liquefied natural gas (LNG) plant, FortisBC has joined hands with Top Speed Energy Corp and will supply 53,000 tonnes from its Tilbury facility for two years. Though this deal is small, the nation expects much larger deals with operators of bigger new terminals.
The Norwegian engineering firm, Aker Solutions is bidding for contracts worth approximately £5 billion. And two-third of these contracts are for subsea jobs. In the first-half of the current fiscal year, the company won 74 front-end orders, one more than in the same period last year. Also, its revenue rose to 25% in the first half the year.
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”.
Petrofac has been awarded a £60 million procurement services contract by Petroleum Development Oman. This contract is a part of a framework agreement signed by Petrofac in 2017. Regional Manager of the company said, "The procurement and management activities for this project will be undertaken from Petrofac’s Muscat office from where we provide first-class expertise in high-value order management".
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.
Oilfield services giant, Petrofac has informed about receiving contract extension from Total. Petrofac will continue to provide Operations and Maintenance (O&M) support to Total’s Alwyn and Dunbar platforms for the next 12 months. Apart from the renewal deal with Total, Petrofac also secured a 12-month extension contract with an unidentified firm operating in the CNS. Both the deals will fetch Petrofac a total of £25 million in revenue.
E&P major, Anadarko has entered into a sales and purchase agreement with Japan’s JERA and Taiwan’s CPC to supply 1.6 MTPA of LNG. Anadarko will deliver the requisite volume from its Mozambique Area 1 project, over a period of 17 years. The Mozambique Area 1 project is operated by Anadarko, where Mitsui E&P, ENH Rovuma Área Um, ONGC Videsh, Beas Rovuma Energy Mozambique, BPRL Ventures Mozambique and PTTEP are partners.
Awilco Drilling is a Westhill-based firm which has been awarded contract extension with Shell. The company has been rewarded decommissioning contract extension and now will also be covering the abandonment of five further wells. This contract is valid until Q1 2020. The initial contract for the WilPhoenix rig was for 18 wells and was expected to be worth £30 million.
Energy giant, Qatar Petroleum has informed that the company has awarded 8 drilling contracts for its North Field gas expansion project. The contract for two rigs has been awarded to Northern Offshore Drilling Operations and the remaining six has have been won by Gulf Drilling International (GDI). According to the company, the drilling will start from January 2020 before which the drilling rigs are expected to be mobilised and ready.
McDermott has successfully completed the INPEX-operated Ichthys LNG Project. The company has finally finished the last offshore campaign for the project. This campaign involved subsea tiebacks to new drill centres which were performed by McDermott's Lay Vessel 108. The senior VP of the company said, "Our outstanding record of accomplishment confirms our expertise and ability to execute one of the world's largest subsea contracts to date."