fetching latest news
News tagged in:
India is looking forward to close an oilfield deal with Russia during October 5 annual submit, to be held between President Vladimir Putin and Prime Minister Narendra Modi. This would be India’s chance to form a strategic partnership with Russia through energy ties. If sources were to be believed, Indian hydrocarbon firms already have their investments in Vankorneft oil field of Russia and can further invest in Vankor cluster.
Cyprus-based Prosafe SE secured a $12 million contract for the semi-submersible accommodation vessel, Safe Caledonia. Prosafe signed the contract with a major oil and gas operator. The vessel will provide accommodation support in the UK sector of the North Sea. The four month duration contract commences in April 2019, with up to two months of options.
Norwegian oil services company, Aker Solutions has bagged a contract from Petrobras for the oil and gas fields in the Campos basin. Under the scope of this deal, offshore production units for Campos’ basin Operational Unit (UO-BC) will be renovated, repaired and upgraded by Aker Solutions. CEO of Aker commented on this agreement and said that the company is pleased to expand its business in Brazil.
Houston based Cheniere Energy has entered into a 15-year agreement with one of the world’s largest oil trader, Vitol Inc. Under the scope of this agreement, Cheniere will supply 700,000 tonnes of LNG to Vitol every year starting from 2018. Cheniere's Sabine Pass terminal in Louisiana increased its output and helped the United States come out as the major LNG exporter in the last two years.
Jersey’s oilfield service provider, Petrofac, announced a series of well engineering procurement, also involving its work in the North Sea. Under this agreement, Petrofac will be the well operator for the Gannet E, Belinda and Evelyn fields.The contract is worth £15.3m. A 5 year well operator service contract with Tailwind Energy is a major part of these procurement.
Coming out of its shell and expanding its business beyond natural gas processing, Black Bear Midstream will now enter into “dry” gas market. The company announced on Sept.10 that it has entered into a six-year agreement and will provide dry gas gathering service from late 2018. Presently, Black Bear has a cryogenic gas processing plant in LA of 140 MMcf/d capacity and NGL pipeline of 40-mile.
Venezuela has not yet paid its past dues of USD 449 million, strategizing accordingly, ONGC Videsh Ltd (OVL) has overruled Latin American nation’s proposal for additional stake in an oilfield. OVL already holds 40% stakes in San Cristobal field and was offered 9% more by PDVSA last year. On November 4, 2016, two agreements were signed between OVL and PDVSA for the revival of the San Cristobal.
Equatorial Guinea’s National Content Regulation of 2014 says “all agreements must have local content clauses and provisions for capacity building.” Failing to obey the local-content rules over training and jobs, the oil-services companies, TechnipFMC Plc, Subsea 7 SA and Schlumberger Ltd. might be excluded from the country. By September end, the oil companies could be asked to cancel their contracts with the existing service providers and issue new tenders.
A 20-year agreement has been signed between Venture Global LNG and Repsol SA. Under the scope of this agreement, Venture will supply 1 million tonnes p.a. of LNG to Repsol from the Calcasieu Pass LNG export facility. LNG will be bought by Repsol on a free on board (FOB) basis. According to Venture Global, the commercial operation date the 10 million tonnes per annum Calcasieu Pass is expected in 2022.
UK-based subsea service provider, Bibby Offshore updated about the delivery of project for an unnamed independent oil and gas development and production company. The scope of the contract included inspection repair and maintenance (IRM) services and supporting riser connection across three North Sea assets. Bibby employed offshore multi-role diving and ROV support vessel, Bibby Sapphire.
Aker Solutions has been awarded the remaining part, maintenance and modifications of the contract which was initially signed in June 2012, by the Point Resources. The initial part of the contract involved the facilities of the Jotun A, Jotun B, Balder and Ringhorne of the North Sea. Under the terms of the agreement, the contract will start at the end of this year and will end in June 2022.
Transocean announced that it will acquire Cyprus’ drilling contractor, Ocean Rig in a £2.1 billion deal. It informed that the deal will be a “combination of cash on hand and fully committed financing provided by Citi”. After the completion of this procurement, shareholders of Transocean and Ocean rig will own 79% and 21% in the shared company. Currently, Ocean Rig owns 2 harsh environment semisubmersibles and 9 high-specification ultra-deepwater drillships.
According to the source, Ratio Oil Exploration, an Israel company, will sign a deal related to the search of oil and gas in the Philippines. This deal is a long- awaited one. Back in 2015, the company was awarded an Exploration deal, a 416,000-hectare East Palawan block of Palawan. This award got delayed because of several legal issues related to the previous exploration contract of that block.
Successfully executing its offshore expansion plan, Saudi Aramco has awarded a contract to Baker Hughes, a GE company for its Marjan oilfield on Tuesday. It is the very first large-scope integrated services contract. The scope of this contract involves coiled tubing services, drilling fluids engineering services, and drilling services in the field. CEO of BHGE said that this procurement reflects the company’s “strong performance track-record in Saudi offshore operations.”
Aberdeen-based Subsea Technologies, yesterday, secured a £1.6 million deal from an unknown Texas-based global engineering firm. The contract will require Subsea Technologies to deliver a range of well intervention equipment so as to permit a reliable connection point into well access systems. The 2010-incorporated firm will provide productivity saving equipment and reduce downtime, as well.
Premier Oil of UK has decided on the final investment of Tolmount Main field in the UK North Sea. The company will now focus on the development of Tolmount Main gas field and will include its joint venture and infrastructure partners. The expected capacity of the field will be around 500 billion cubic feet. EPCIC contract has been awarded to Rosetti Marino while Saipem will have pipeline EPCI contract.
Wood has secured a new contract from Shell, for a period of 6 years. The contract pertains to the Malampaya project of Shell in the Philippines. Wood has to provide offshore resources in the Malampaya field and maintanence, modification and shutdown support services for Batangas facilities of Shell. CEO of Wood said that this represents the broad capabilities of the combination of Amec Foster Wheeler and Wood Group.
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.