[Read More]
Source: Asiasis
Posted on 11/02/2010 / 0
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Nov 2, 2010
Sungdong wins 39-ship orders
[Read More]
Source: Asiasis
HHI first digitize shipbuilding welding
HHI has used analog welding method for the past 40 years since 1972.
[Read More]
Source: Asiasis
Posted on 11/02/2010 / 0
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Pirates take tanker, ditch bulker
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The 72,825dwt tanker Polar was seized on 30 October about 580 n-miles east of Socatra Island, the anti-piracy force said, adding that the vessel’s Liberian owner had confirmed that pirates were in control.
[Read More]
Source: Safety at Sea
Posted on 11/02/2010 / 0
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Channel swim peril warned
But its PR chief Brian Rees splashed cold water on a French call to bar Channel crossings: “It would be a very sad day if the UK authorities tried to follow the French, who prohibited attempts from their shores many years ago.
[Read More]
Source: Safety at SeaPublish Post
Posted on 11/02/2010 / 0
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Singapore’s LNG facility to have third tank
[Read More]
Source: Seatrade Asia Online
Posted on 11/02/2010 / 0
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Gulf jack-up operator eyes strategic alternatives
BOEMRE Director Michael R. Bromwich may be in denial about its existence, but the de facto moratorium on issuance of new shallow water drilling permits looks to be real enough to be forcing Houston headquartered Seahawk Drilling, Inc. (Nasdaq:HAWK) to seek a buyer. The company,which owns and operates a fleet of 20 jackup rigs that are located in the Gulf of Mexico said today that its Board of Directors "has initiated a process to explore and consider possible strategic alternatives for enhancing shareholder value."
[Read More]
Source: Marine Log
[Read More]
Source: Marine Log
Posted on 11/02/2010 / 0
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Panamax size dry-bulk carrier market is strong
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, due to factors including ones associated with the global economy. While some of the factors have caused a damper on demand, time charter average rates for Panamax ships overall have risen in the last 18 months, without drastic fluctuations compared to Capesize rates. There was the impact caused by India's ban on export from some ports. Although a small volume affected, it appeared to have had a physiological effect. Recently, there were reports of declining port congestions for Panamax cargoes. Although a sign of strength in demand, it lets rates lose their momentum. Coupling fixtures, stockpiles and reported export volumes on grain, coal and iron ore shows a sign of reliability, consistency and strength of the class.
Posted on 11/02/2010 / 0
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North P&I Club directors decide on 3% general premium increase
Shipowner directors of the 125 million GT North P&I club have decided on a modest 3% general premium increase for protection and indemnity (P&I) cover in 2011/12, reflecting their commitment to maintaining the ‘A’ rated club’s financial strength in an uncertain market. Chairman Albert Engelsman of Dutch shipping group Wagenborg says, ‘North’s finances are in a strong position; however the board recognises the club is not immune to the ongoing period of financial uncertainty that is forecast and consequently we must remain vigilant. The directors are committed to maintaining the financial strength of the club and therefore we have decided to apply a general increase of 3% to P&I premium rates.’
Joint managing director Paul Jennings says, ‘Although claims experience for the current year compares favourably with previous years, the board recognises the inherently volatile nature of P&I claims, the impact of claims inflation and the operational challenges faced by shipowners. These factors have been taken into consideration when assessing the general increase and we have assumed that claims will follow the same trend experienced over the past five years. However, the relatively modest nature of the increase recognises the particularly strong financial performance of the club.’
Joint managing director Alan Wilson says, ‘Our cautious financial approach underpins our objective of providing financial stability to members. We are now entering the twentieth consecutive year without calling on members for unbudgeted supplementary funding.’
He says the club continued to adopt a defensive approach to investment strategy to match its objective of capital preservation, and the board remains of the view that this low-risk investment strategy - which produced a return of 3.7% in the first seven months of 2010/11 - should be maintained. ‘This positive investment result, together with lower claims levels should, absent unusual events, lead to a healthy increase in the free reserve at 20 February 2011 renewal,’ says Wilson. North’s free reserve at the 2010 renewal reached US$240.3 million.
The directors have also decided to increase P&I deductible levels below US$5000 by US$1000. The club’s freight, demurrage and defence (FD&D) rates will increase by 10%. Members’ rates will also be adjusted to reflect any increases or reductions in the cost of the International Group of P&I Clubs’ excess- loss reinsurance programme.
North provides P&I insurance to 95 million GT of owned tonnage and 30 million GT of chartered tonnage, with 4250 ships entered by 375 members. The club is based in Newcastle-upon-Tyne, UK with regional offices in Hong Kong, Piraeus and Singapore.
Source: North of England P&I Club
Joint managing director Paul Jennings says, ‘Although claims experience for the current year compares favourably with previous years, the board recognises the inherently volatile nature of P&I claims, the impact of claims inflation and the operational challenges faced by shipowners. These factors have been taken into consideration when assessing the general increase and we have assumed that claims will follow the same trend experienced over the past five years. However, the relatively modest nature of the increase recognises the particularly strong financial performance of the club.’
Joint managing director Alan Wilson says, ‘Our cautious financial approach underpins our objective of providing financial stability to members. We are now entering the twentieth consecutive year without calling on members for unbudgeted supplementary funding.’
He says the club continued to adopt a defensive approach to investment strategy to match its objective of capital preservation, and the board remains of the view that this low-risk investment strategy - which produced a return of 3.7% in the first seven months of 2010/11 - should be maintained. ‘This positive investment result, together with lower claims levels should, absent unusual events, lead to a healthy increase in the free reserve at 20 February 2011 renewal,’ says Wilson. North’s free reserve at the 2010 renewal reached US$240.3 million.
The directors have also decided to increase P&I deductible levels below US$5000 by US$1000. The club’s freight, demurrage and defence (FD&D) rates will increase by 10%. Members’ rates will also be adjusted to reflect any increases or reductions in the cost of the International Group of P&I Clubs’ excess- loss reinsurance programme.
North provides P&I insurance to 95 million GT of owned tonnage and 30 million GT of chartered tonnage, with 4250 ships entered by 375 members. The club is based in Newcastle-upon-Tyne, UK with regional offices in Hong Kong, Piraeus and Singapore.
Source: North of England P&I Club
Posted on 11/02/2010 / 0
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Persian Gulf Lacks Sufficient Supertankers for First Time in Almost a Year
There are 1 percent fewer very large crude carriers, or VLCCs, for hire over the next 30 days than there are cargoes, according to the median estimate of eight shipbrokers and owners surveyed by Bloomberg News today. There was a 20 percent surplus a week ago.
[Read More]
Source: Bloomberg
Posted on 11/02/2010 / 0
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Dry bulk market still top of investors' preferences
The latest monthly poll, organized by Hellenic Shipping News Worldwide among its readers, revealed in October that the dry bulk market is still the most desirable investment-wise. A total of 3,034 readers took part in last month’s poll, out of which 937 or almost 31% would invest in the dry bulk shipping industry, should they have the proper financing. Not surprisingly, in second place came all those emerging or niche segment of the market, including oil rigs, LNG and LPG business, gathering a total of 627 votes, which represent 20.7%.
[Read More]
Source: Hellenic Shipping News
[Read More]
Source: Hellenic Shipping News
Posted on 11/02/2010 / 0
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Delivery of Floatel’s second unit
Designed by Keppel O&M's Deepwater Technology Group, the 99m long, 36m wide KFELS SSAUTM 3600 accommodation semisubmersible was developed to meet growing demand for safe and greater-capacity living quarters. Keppel FELS previously delivered the first unit of this design, Safe Concordia, in 2005.
[Read More]
Source: Motorship
Posted on 11/02/2010 / 0
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NYK introduces latest green boxship
Despite recent adverse trading conditions, NYK continues its investment of 70 billion yen ($866 million) over six years in the development of innovative environmental technology.
[Read More]
Source: Motorship
Posted on 11/02/2010 / 0
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TAG Oil Announces Strong Results at Sidewinder-1 Flow Test and Updates Taranaki Basin Operations
VANCOUVER, Nov. 2 /PRNewswire/ - Canadian-listed, New Zealand oil and gas producer TAG Oil Ltd. (TSX-V: TAO), announces that the Sidewinder-1 discovery well, located in TAG's 100% controlled Permit 38748 in the Taranaki Basin, has been perforated and a 10-day sustained production test is now complete.
Sidewinder-1 was drilled to a total depth of 1601m and encountered 14 meters of net (22m gross) oil and gas bearing sandstones.
Stabilized flow rates of 8.5 million cubic feet of gas plus 44 barrels of oil per day for a total of 1461 barrels of oil equivalent ("BOE") per day were achieved with a flowing tubing pressure of 940 psi. The 4- Point Isochronal test indicated a tubing restricted maximum gas flow rate of 13 million cubic feet per day (2167 BOE's/day).
The Sidewinder-1 well initially produced pure natural gas, but as the ten day test progressed, increasing amounts of crude oil has been recovered, with no water produced.
Garth Johnson, TAG Oil CEO commented, "This is one of the strongest flow rates recorded from the Mt. Messenger Formation in Taranaki. Our technical team has identified numerous "lookalike" prospects from 3-D seismic to drill within our 7910 acre exploration permit area, with many being reachable from the same Sidewinder surface location. We will now proceed with plans to commercialize this discovery and initiate full time production as rapidly and cost-effectively as possible."
TAG also reports that the Cheal-BH-1 horizontal well has now reached total depth of 2285m, including a 550m horizontal section within the Mt Messenger Formation (1735-2285m) in the Company's 100% controlled Cheal oil and gas field. Uphole mudlogs have recorded better than expected oil and gas shows within the secondary Urenui Formation target at a depth of approximately 1400m. In the Mt. Messenger horizontal section of the well, a total of 430m of continuous reservoir penetration is interpreted with high oil and gas readings during the drilling operations. The multi-phase fracture completion assembly has now been successfully landed at a total depth of 2280m, with all stage packers successfully deployed. The drilling rig has now been released, and the Company is mobilizing a service rig onto location to complete the 5-stage fracture stimulation.
"With the completion assembly installed across the lateral section of the Cheal-BH-1 well, we can commence the multi-stage fracturing operation in the next few days prior to commencement of production testing of New Zealand's first horizontal multi-stage fractured well by mid-November." Noted Mr. Johnson
TAG Oil Ltd.
TAG Oil Ltd. is a Canadian-listed company (TSX-V: TAO) with operations in New Zealand. With 100% control over all its core assets, including production infrastructure, TAG is anticipating production growth through development of multiple oil and gas discoveries in the Taranaki Basin and through high-impact exploration drilling on prospects identified over 3,500 sections of land.
In the East Coast Basin, TAG is pursuing the major unconventional resource potential that has been demonstrated in the Waipawa Black Shale and Whangai Shale source-rock formations that are widespread across the Company's acreage. The geological characteristics of these oil-rich, naturally fractured, thermally mature formations compare favorably to fractured shale formations such as the Bakken Shale in the Williston Basin and Liassic Shale in the Paris Basin.
"BOE"s may be misleading, particularly if used in isolation. A BOE conversion ratio of 6Mcf : 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. Actual results may vary materially from the information provided in this release. As a result, there is no representation by TAG Oil that actual results realized in the future would be the same in whole or in part as those presented herein. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements are set forth in, but are not limited to, filings that the Company and its independent evaluator have made, including the Company's most recent reports in Canada under National Instrument 51-101.
Source: Press Release
Sidewinder-1 was drilled to a total depth of 1601m and encountered 14 meters of net (22m gross) oil and gas bearing sandstones.
Stabilized flow rates of 8.5 million cubic feet of gas plus 44 barrels of oil per day for a total of 1461 barrels of oil equivalent ("BOE") per day were achieved with a flowing tubing pressure of 940 psi. The 4- Point Isochronal test indicated a tubing restricted maximum gas flow rate of 13 million cubic feet per day (2167 BOE's/day).
The Sidewinder-1 well initially produced pure natural gas, but as the ten day test progressed, increasing amounts of crude oil has been recovered, with no water produced.
Garth Johnson, TAG Oil CEO commented, "This is one of the strongest flow rates recorded from the Mt. Messenger Formation in Taranaki. Our technical team has identified numerous "lookalike" prospects from 3-D seismic to drill within our 7910 acre exploration permit area, with many being reachable from the same Sidewinder surface location. We will now proceed with plans to commercialize this discovery and initiate full time production as rapidly and cost-effectively as possible."
TAG also reports that the Cheal-BH-1 horizontal well has now reached total depth of 2285m, including a 550m horizontal section within the Mt Messenger Formation (1735-2285m) in the Company's 100% controlled Cheal oil and gas field. Uphole mudlogs have recorded better than expected oil and gas shows within the secondary Urenui Formation target at a depth of approximately 1400m. In the Mt. Messenger horizontal section of the well, a total of 430m of continuous reservoir penetration is interpreted with high oil and gas readings during the drilling operations. The multi-phase fracture completion assembly has now been successfully landed at a total depth of 2280m, with all stage packers successfully deployed. The drilling rig has now been released, and the Company is mobilizing a service rig onto location to complete the 5-stage fracture stimulation.
"With the completion assembly installed across the lateral section of the Cheal-BH-1 well, we can commence the multi-stage fracturing operation in the next few days prior to commencement of production testing of New Zealand's first horizontal multi-stage fractured well by mid-November." Noted Mr. Johnson
TAG Oil Ltd.
TAG Oil Ltd. is a Canadian-listed company (TSX-V: TAO) with operations in New Zealand. With 100% control over all its core assets, including production infrastructure, TAG is anticipating production growth through development of multiple oil and gas discoveries in the Taranaki Basin and through high-impact exploration drilling on prospects identified over 3,500 sections of land.
In the East Coast Basin, TAG is pursuing the major unconventional resource potential that has been demonstrated in the Waipawa Black Shale and Whangai Shale source-rock formations that are widespread across the Company's acreage. The geological characteristics of these oil-rich, naturally fractured, thermally mature formations compare favorably to fractured shale formations such as the Bakken Shale in the Williston Basin and Liassic Shale in the Paris Basin.
"BOE"s may be misleading, particularly if used in isolation. A BOE conversion ratio of 6Mcf : 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. Actual results may vary materially from the information provided in this release. As a result, there is no representation by TAG Oil that actual results realized in the future would be the same in whole or in part as those presented herein. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements are set forth in, but are not limited to, filings that the Company and its independent evaluator have made, including the Company's most recent reports in Canada under National Instrument 51-101.
Source: Press Release
Posted on 11/02/2010 / 0
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Saudi Aramco may sign $4 bln loan soon-IFR
State-run Saudi Aramco [SDABO.UL] could sign a $4 billion two-part revolver loan with banks next week, IFR Markets, a unit of Thomson Reuters, said on Tuesday quoting banking sources.
[Read More]
Source: Reuters
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Source: Reuters
Posted on 11/02/2010 / 0
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Al Qaeda suspected in Yemen oil pipeline blast
The explosion occurred early on Tuesday and caused a leak, the size of which was unclear, a KNOC spokesman told Reuters in Seoul. There were no casualties, he said, adding that he could not confirm the cause of the explosion.
[Read More]
Source: Reuters
Posted on 11/02/2010 / 0
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China shipbuilder set for splash
China Rongsheng Heavy Industries is tipped to become another hot favorite in the local initial public offering market, as it is expected to benefit from China's new Five-Year Plan and is priced reasonably.
The firm yesterday introduced two more cornerstone investors - tycoon Cheng Yu-tung's Chow Tai Fook and CC Land (1224). Each agreed to subscribe for US$50 million (HK$390 million) worth of shares, sources said.
Posted on 11/02/2010 / 0
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French and Russian, ship manufacturers form association
[Read More]
Source: TopNews Arab Emirates
Posted on 11/02/2010 / 0
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Bangladesh plans to develop dredging industry
Bangladesh has made rapid stride in the shipbuilding sector and we are now building small ships for the foreign countries. With the proper implementation and regulation of R&D, QC and safety measures, this sector could brighten up the economics of the nation.
[Read More]
Source: Steel Guru
[Read More]
Source: Steel Guru
Posted on 11/02/2010 / 0
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S.Korea to build 8.2 billion-dollar offshore wind farm
Under the 9.2 trillion won (8.2 billion dollars) project, companies such as Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering plan to build 500 turbines, the Knowledge Economy Ministry said in a statement.
[Read More]
Source: AFP
Posted on 11/02/2010 / 0
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Concordia Maritime Finances Suezmax
Concordia Maritime (STO:CCORB) has now secured financing for the newly ordered Suezmax tanker Stena Supreme. The vessel, which will be built by the South Korean shipyard Samsung, is set for delivery in Q2, 2012. The financing, which will be jointly provided by the banks SEB and DnB NOR, amounts to approx. 70% of the investment and has a currency of seven years.
“In our view, the timing of the financing of this vessel is right. It is also gratifying that we have been able to secure financing with two of the good banks with which we have excellent relations”, says Göran Hermansson, CFO.
The vessel is part of a series of seven tankers designed by Stena Bulk and ordered in March 2010. The intention is to employ the tankers on the open market via the Stena Sonangol Suezmax Pool.
“Concordia Maritime is in good financial shape. This means that we are well prepared and have the capacity to invest in both new projects and interesting business opportunities that may emerge as a result of the challenging shipping markets”, says Hans Norén, President.
www.concordiamaritime.com
This information was brought to you by Cision http://www.cisionwire.com
Concordia Maritime
Hans Norén, President
Tel +46 31 855101
Mobil +46 704 855101
Posted on 11/02/2010 / 0
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Wärtsilä and Russian yard group in joint set-ups
ärtsilä and the leading Russian yard group United Shipbuilding Corporation have signed a memorandum of understanding with the aim to “establish joint set-ups in the areas ........
[Read More]
Source: Shipgaz
[Read More]
Source: Shipgaz
Posted on 11/02/2010 / 0
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Kuwait Energy, TPAO, KazMunaiGaz Get Iraq Gas Awards
Kuwait Energy Co., Turkiye Petrolleri AO and KazMunaiGaz National Co., Kazakhstan’s state fuel producer, won rights to develop three Iraqi natural-gas areas as the country seeks supplies for power plants and export.
[Read More]
Source: Bloomberg
[Read More]
Source: Bloomberg
Posted on 11/02/2010 / 0
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ABG Shipyard Bags Rs.2,000 Cr. Order From Drilling & Offshore
ABG Shipyard said that company bagged an export order for construction of two jack-up rigs from M/s Drilling & Offshore Pte. Ltd.[Read More]
Source: RTT News
Posted on 11/02/2010 / 0
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BG Group announces certified resources upgrade of 2.7 bboe to Tupi, Iracema and Guará fields, offshore Brazil
BG Group today announced a 2.7 billion barrels of oil equivalent (boe) upgrade to estimates of gross resources for the Tupi, Iracema, and Guará fields in the Santos Basin, offshore Brazil. BG Group’s new aggregate best estimate of economically recoverable gross resources* for these fields amounts to 10.8 billion boe, representing a 34% increase to the 8.1 billion boe mid-point of the Group’s previous indicative resource range.
As a result of the upgrade, BG Group’s aggregate best estimate of its economically recoverable net resources on Tupi, Iracema and Guará now stands at 2.8 billion boe.
BG Group’s latest analysis is based on the development by the Group of new and significantly more sophisticated reservoir models which have assimilated and interpreted substantial amounts of information (much of it new and gathered over the last year) including:
3 200 square kilometres of 3D seismic data;
results from 9 completed wells (including the 2 original discovery wells on Tupi and Guará);
As a result of the upgrade, BG Group’s aggregate best estimate of its economically recoverable net resources on Tupi, Iracema and Guará now stands at 2.8 billion boe.
BG Group’s latest analysis is based on the development by the Group of new and significantly more sophisticated reservoir models which have assimilated and interpreted substantial amounts of information (much of it new and gathered over the last year) including:
3 200 square kilometres of 3D seismic data;
results from 9 completed wells (including the 2 original discovery wells on Tupi and Guará);
- 10 drill stem tests; and
- the detailed insights gained from the extended well test on Tupi, which has produced 7.6 million boe to date.
BG Group engaged the oil and gas consulting firm Miller and Lents, Ltd (MLL) to provide expert independent verification of the estimates of resources on Tupi, Iracema and Guará. MLL were provided with full access to BG Group’s data and development models for these fields and have certified their best estimate** for gross resources for these fields to be 10.8 billion boe in aggregate. - Source: BG Group
Posted on 11/02/2010 / 0
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Nigeria: Exxon Mobil announces offshore gas find
The Nigerian subsidiary of Exxon Mobil Corp. says the firm has discovered a rich gas condensate deposit off Nigeria's southeast coastline.
[Read More]
Source: Business Week
[Read More]
Source: Business Week
Posted on 11/02/2010 / 0
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Statoil awarded UK exploration acreage
Statoil has been awarded operatorship of three new exploration licenses on the UK continental shelf (UKCS). Statoil was awarded one licence which covers parts of blocks 8/15 and 9/11D, close to the Statoil-operated Mariner heavy oil discovery, and two licences near the Faroe border.“We are very pleased to secure this new Statoil operated acreage in the UK,” says senior vice president for global exploration Tim Dodson. “The North Sea blocks 8/15 and 9/11D will capture any north westerly extension of our Mariner oil discovery which Statoil is presently evaluating for development,” he says. “The other blocks will further strengthen our position in the area between Statoil’s licences in the Faroes and the Rosebank field in UK waters, where Statoil is a partner in the Chevron operated field.” The requirement for the acreage near Mariner are 2D seismic survey and evaluation prior to a drill or drop decision, while for the Faroes/Rosebank blocks a drill or drop decision has do be made after reprocessing of existing 2D seismic.
Source: Press Release
Source: Press Release
Posted on 11/02/2010 / 0
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BP oil spill costs surge to $40 bln
Energy giant BP announced a return to profit on Tuesday but revealed new shock estimates for the cost of its Gulf of Mexico oil spill, putting the expected bill at close to $40 billion.
The new figure is far higher than expected.
BP said it had taken an additional charge of $7.7 billion during the third quarter, bringing the company's own total estimated clean-up and legal costs to $39.9 billion.
The company also reported a net profit of $1.785 billion for the third quarter following a loss of $16.9 billion during the second quarter of this year.
[Read More]
The new figure is far higher than expected.
BP said it had taken an additional charge of $7.7 billion during the third quarter, bringing the company's own total estimated clean-up and legal costs to $39.9 billion.
The company also reported a net profit of $1.785 billion for the third quarter following a loss of $16.9 billion during the second quarter of this year.
[Read More]
A bird covered in oil is cleaned at the Fort Jackson Oiled Wildlife Rehabilitation Center in Buras
The Gulf of Mexico oil disaster was triggered by a blast on the Deepwater Horizon rig
The broken well was eventually plugged but not before it gushed about 4.9 million barrels of oil into the Gulf waters
VIDEO: BP disaster, six months on. Duration: 00:36
Posted on 11/02/2010 / 0
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Subsea7 secures $100m North Sea contract with BP
30 month contract awarded for project management, engineering and remotely operated vehicle services for offshore inspection, repair and maintenance activitiesOil and gas industry engineering and construction group Subsea 7 has won a $100 million North Sea contract from BP.
[Read More]
Source: Business7
[Read More]
Source: Business7
Posted on 11/02/2010 / 0
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Desire Petroleum suffers another setback in drilling campaign
Oil exploration firm Desire Petroleum has suffered another setback in its drilling campaign in the Falkands after a mechanical failure.
Shares in Malvern-based Desire (DES) remained depressed after the company admitted that the first effort at reaching target drilling depth had failed.
[Read More]
Source: Birmingham Post
Shares in Malvern-based Desire (DES) remained depressed after the company admitted that the first effort at reaching target drilling depth had failed.
[Read More]
Source: Birmingham Post
Posted on 11/02/2010 / 0
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BP Seeks $1.9 Billion From Mitsui Unit for Gulf Oil Spill Cleanup Costs
Mitsui Oil Exploration Co., which has a 10 percent stake in the damaged Macondo oil well, received the invoice for costs through to today, the company said in a statement on its website. Mitsui Oil is withholding payment to London- based BP, the statement said.
[Read More]
Source: Bloomberg
Posted on 11/02/2010 / 0
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Worleyparsons awarded new contract
Worleyparsons Ltd (ASX:WOR) has announced that it has been appointed as a contractor for QGC’s Queensland Curtis LNG Project, in a deal that has potential revenue of over $580 million.
QGC is a BG Group business that is developing coal seam gas in the Surat Basin of southern Queensland for domestic and export markets through its Queensland Curtis LNG project.
Worleyparsons says it will offer detailed engineering and procurement services for the upstream gas field facilities and related infrastructure for the project.
CEO John Grill says the award will provide Worleyparsons with an opportunity to partner with BG Group and QGC on a cutting edge coal seam gas project.
Worleyparsons Ltd posted a profit of $303 million in the year to 30 June 2010.
Source: Press Release
Worleyparsons says it will offer detailed engineering and procurement services for the upstream gas field facilities and related infrastructure for the project.
CEO John Grill says the award will provide Worleyparsons with an opportunity to partner with BG Group and QGC on a cutting edge coal seam gas project.
Worleyparsons Ltd posted a profit of $303 million in the year to 30 June 2010.
Source: Press Release
Posted on 11/02/2010 / 0
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BP Sends $4.5 Billion Bill to Partners for Mexico Gulf Cleanup
BP Plc sent bills for $4.5 billion to its partners in the Macondo oil well for what it says is their share of costs of cleaning up after the Gulf of Mexico oil disaster, the biggest offshore oil spill in U.S. history.
Anadarko Petroleum Corp., a Texas oil company with a 25 percent stake in the well, said in a regulatory filing BP billed it $2.6 billion for costs through Sept. 30. Mitsui & Co.’s oil exploration unit, which has a 10 percent stake in the well, received a bill for $1.9 billion, it said in a statement.
[Read More]
Source: Bloomberg
Anadarko Petroleum Corp., a Texas oil company with a 25 percent stake in the well, said in a regulatory filing BP billed it $2.6 billion for costs through Sept. 30. Mitsui & Co.’s oil exploration unit, which has a 10 percent stake in the well, received a bill for $1.9 billion, it said in a statement.
[Read More]
Source: Bloomberg
Posted on 11/02/2010 / 0
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