Dec 14, 2010

Ruling narrows state's case against BP for Slope oil spills

A state judge has made a key ruling that could spare BP paying hundreds of millions to the state due to suspended oil production in the aftermath of the company's major 2006 spills on the North Slope.
The state filed a civil lawsuit against BP asserting damages exceeding $1 billion for alleged loss of state taxes and royalties, and for negligence in maintaining pipelines at aging oil fields the company runs.
[Read more]
Source: Anchorage Daily News

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Watchdog clears ASX's Singapore merger

The competition regulator says it will not oppose the proposed takeover of the Australian Securities Exchange (ASX) by Singapore Exchange Limited (SGX).
SGX wants to buy the ASX for $8.4 billion in a deal which is expected to lower costs for both exchanges and be the first merger between two market operators in the Asia-Pacific.
[Read more]
Source: ABC News
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S.Africa, Angola sign energy deal in historic visit


South Africa and oil-producing Angola took a step away from decades of friction on Tuesday by signing an energy deal during the first state visit of Angola's long-standing leader to the regional economic power.
[Read more]
Source: Reuters
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Another well comes online in Campos Basin pre-salt play

Petrobras has announced the start-up of an extended well test (EWT) for the Carimbé reservoir, in the Campos Basin. Discovered last May, the reservoir is located 108 km off the coast of Rio de Janeiro. The test, being carried out with well 6-CRT-43-RJS, marks the beginning of pre-salt oil exploration in the central area of the sedimentary basin. 
[Read more]
Source: Offshore Magazine
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Petrobras seeks Bolivia natural gas field stake

Brazilian state oil company Petrobras  is in talks with France's Total to buy a stake in the Bolivian natural gas field Itau, a Petrobras official said on Tuesday.
The move comes despite the 2006 energy nationalization that gave the Bolivian government control over Petrobras assets, including a key natural gas field and two refineries, sparking tension between the two countries.
[Read more]
Source: Reuters
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U.S. expected to file Gulf oil spill civil case

The U.S. Justice Department is expected to announce as early as Wednesday its first significant legal action stemming from the BP oil spill in the Gulf of Mexico, a federal government source familiar with the matter said.
[Read more]
Source: Reuters
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GE awarded $500m Aramco contracts

General Electric (GE) has won contracts worth almost $500 million to provide equipment and services to a remote Saudi Aramco oil field in the Kingdom’s Empty Quarter. The US company was selected by Aramco to outfit the Shaybah oil field with 11 gas turbine generators and other equipment to boost power supply at the site.
[Read more]
Source: Arab News
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Total Studies Polish Shale in ‘Baby Steps’ to Gain Gas Assets

Total SA, Europe’s third-largest oil company, is studying the possibility of searching for shale gas in Poland to gain access to a potential 3 trillion cubic meters in fuel resources in the eastern European country.
“It’s a very interesting” area, Martin Deffontaines, director of strategy and business development for exploration and production at Total, said today in an interview in Paris. “There are reasons why companies are investing there.”
[Read more]
Source: Bloomberg
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Argentina's YPF dispute threatens fuel shortages

A two-week old labor dispute at Argentina's largest energy company, YPF, could start to cause fuel shortages in the coming days as refineries run out of crude oil supplies, two energy firms said on Tuesday.
[Read more]
Source: Reuters
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Uganda evicts pastoralists from oil fields

Uganda has evicted more than 400 pastoralists from a patch of land in the Lake Albert rift basin, where oil has been found, after the government accused them of illegal occupation, police said on Tuesday.
Police ejected the herders over the last two days from areas around Buliisa district, police spokesman Vincent Ssekate said.
[Read more]
Source: Reuters
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Adira Energy Announces Commencement of Drilling Operations Onshore and 3D Geophysical Survey Offshore Israel

Adira Energy Ltd. is pleased to announce that it has commenced Drilling and workover operations on its onshore "Eitan" unconventional gas license in the Hula Valley as well as commencing 3D geophysical survey operations on its "Gabriella" and "Yitzhak" licenses offshore Israel.
[Read more]
Source: Newswire
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Petrobras Cuts Oil Production Growth Forecast by Half

Petroleo Brasileiro SA, Brazil’s state-controlled oil company, said production next year will rise by less than half a previous forecast as output at older fields declines.
Output will increase by 3.5 percent to 4 percent, Guilherme Estrella, head of exploration and production, told reporters today in Rio de Janeiro. Petrobras previously said in a presentation that output would rise on average as much as 9.4 percent a year and reach 3.9 million barrels a day in 2014. Daily oil and natural gas output averaged 2.56 million barrels in the first 10 months of 2010, according to its website.
[Read more]
Source: Bloomberg
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Cheney, Halliburton may settle Nigerian charges

Charges of bribery against former U.S. Vice President Dick Cheney and Halliburton by Nigeria's anti-corruption police may be dropped after an agreement to pay a $250 million fine.
"Discussions focus on the possibility of a plea bargain arrangement," said Femi Babafemi, a spokesman for Nigeria's Economic and Financial Crimes Commission.
[Read more]
Source: CNN
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BP to Sell Pakistan Assets to Pay for Spill

BP said on Tuesday that it would sell Pakistan assets to United Energy Group for $775 million in cash, as it continues to raises money to pay for the oil spill in the Gulf of Mexico.
BP is selling exploration and production assets in the southern coastal province of Sindh and others in the Arabian Sea. The deal is expected to close in the first half of next year.
"Today’s agreement is further evidence of the rapid progress BP has made towards the divestment target we set out last summer," Robert Dudley, the company’s chief executive, said in a statement.
[Read more]
Source: NY Times
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Vantage Drilling Company Announces Contract Award

Vantage Drilling Company announced today a contract award for a drilling program in Southeast Asia consisting of two wells plus an option well. The anticipated duration of the first two wells is fourteen months. The contract is anticipated to commence in the third quarter 2011 utilizing the Topaz Driller, or alternatively the Emerald Driller or Aquamarine Driller. The actual rig assignment will be based on the best suited availability to maintain continuous work throughout the fleet. The rig will receive project specific upgrades before transit to the initial well location. Estimated revenues to be generated over the initial term of the contract are approximately $77.9 million, including customer reimbursement of upgrade costs.
Paul Bragg, President and Chief Executive Officer, commented, "The Vantage team is well-positioned to carry out challenging high-pressure/high-temperature well projects, such as this project for Total E&P Malaysia and Petronas, with our fleet of modern, high-specification rigs."
Source: Press release
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Statoil: High activity off Norway in 2010

In 2010 Statoil started production on three new fields, delivered a plan for development and operation (PDO) of two new fields and chose concepts for two of our main improved recovery projects.
Statoil’s strategy is to maximise the value on the Norwegian continental shelf (NCS), and its goal is to maintain the current production level up to 2020.
[Read more]
Source: Finchannel.com
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Siem Offshore Sells Platform Supply Vessel for $32 million

Siem Offshore has entered into an agreement for the sale of the 2007 built PSV ‘Siem Mollie’.
PSV ‘Siem Mollie’ of VS 470 mk II design has been sold to an Asian buyer at a price of approx USD 32 million. The vessel is scheduled to be delivered to its new owner within December 2010.
[Read more]
Source: Offshore Energy Today
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Bounty Oil And Gas NL New Seaclem 1 Well Spudding Today

Bounty Oil & Gas NL is pleased to announce that the "Ocean Patriot" semi submersible drill rig has been positioned at the New Seaclem 1 location, fixed with 8 anchors and has ballasted down. All operations have proceeded smoothly aided by calm seas.
The well will be spudded later today; 2 days ahead of schedule.
Bounty will release further details as soon as this information is available.
The well operator is Asset Energy Pty Limited a wholly owned subsidiary of Advent Energy Limited.
Source: Press release
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Malaysia:Six hurt in oil platform blaze

Six offshore oil rig workers were injured when a fire broke out at the Bekok C platform operated by Petronas Carigali Sdn Bhd about 200km off Terengganu waters.
They were among 102 people who were carrying out chores at the site when the incident occurred at 12.05am yesterday. All of them were evacuated to another platform by Petronas’ emergency response team.
[Read more]
Source: The star
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Petrobras to name drillship winner

Petrobras is set to award just one of the contractual packages on offer for building seven drillships per Brazilian shipyard, a director with the company confirmed today.
[Read More]
Source: Upstream
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Northern Offshore Announces New Contract Award for Jackup Energy Enhancer

Northern Offshore, Ltd. today announced that its subsidiary, Northern Offshore U.K. Ltd., has been awarded a contract with Ithaca Energy (UK) Limited ("Ithaca"), a subsidiary of the Canadian independent oil and gas company Ithaca Energy Inc., for the jackup Energy Enhancer.  The contract comprises the drilling and completion of one deviated well from the Jacky platform in the Inner Moray Firth area of the UK Sector, which is expected to begin late February 2011 and run approximately 72 days.
Northern Offshore, Ltd. President and CEO Gary W. Casswell said, "We are pleased that Ithaca has again selected Northern Offshore and the Energy Enhancer for its drilling program, and are looking forward to providing safe and efficient operations.  We consider this an excellent occasion to build on a relationship to lead to future opportunities."
Source: Press release
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Pride Orders Samsung Drillship‎

Offshore drilling rig operator Pride International Inc. said Tuesday it has reached agreement with Samsung Heavy Industries Ltd. for the construction of a deep-water drillship.
The new unit will be constructed at Samsung's shipyard in Geoje, South Korea, with delivery expected in mid-2013.
[Read More]
Source: Bloomberg
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Norway: Statoil Installs New Compessor Module on Kristin Platform

Statoil has decided to install a new compressor module on the Kristin platform together with the Kristin and Tyrihans licence owners. The module will increase recovery from the field.
“The investment decision will result in increased reserves and accelerated production, prolonging the lifetime of the Kristin field and associated installations up until the years 2029 – 2034,” says project head Øystein Braathen.
[Read more]
Source: Offshore Energy Today
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Bisected outlooks on newbuild prices

Contradictory outlooks on a future ship price are being raised, some expecting a re-drop while others prospecting a continuous upward trend.
One of the main reasons for the re-drop expectation is an imbalance of supply and demand. A recession of the shipping market situation triggered by the mass completion of newbuildings would encourage shipowners to cut down the ship prices.
[Read More]
Source: Asiasis
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Murphy Oil Expands in S.E. Asia

Oil and gas company Murphy Oil Corporation expanded its footprint in Southeastern Asia through a production sharing agreement in Brunei Darussalam. Murphy's wholly owned subsidiary, Canam Brunei Oil Ltd., has entered into an agreement with Brunei National Petroleum Company Sendirian Berhad (PetroleumBRUNEI) for interests in offshore Block CA-2.
[Read more]
Source: Zacks
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Bangladesh: Ship breakers allege conspiracy against industry

The country’s ship breakers protested continuous vile propaganda and aggression on the ship breaking industry.
They alleged that some non-government organisations are creating obstacle in association with foreign conspirators to the development of local shipbuilding industry.
[Read More]
Source: The Financial Express
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China’s Nov shipbuilding totals 5.96 mil dwt, up 20% from Oct

China completed shipbuilding work totaling 56.76 million dwt over January-November this year, up 55.4% year on year, data from the Ministry of Industry and Information Technology showed Monday.
Source: Platts
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New Zealand Has Scope to Improve Offshore Oil Laws, Report Says

New Zealand’s offshore petroleum operations would benefit from improvements to laws covering health, safety and the environment, a report prepared for the government shows.
The review was undertaken by Auckland-based law firm Atkins Holm Joseph Majurey in partnership with Environmental Resource Management, Economic Development Minister Gerry Brownlee said in a statement today. The government is seeking feedback and posted the report on the ministry website.
[Read more]
Source: Bloomberg
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Supertanker Market Has 30 to 40 Spare Vessels, DnB NOR Says

DnB NOR Markets analysts Henrik With and Glenn Lodden comment in an e-mailed report today on supply and demand for supertankers to load 2 million-barrel cargoes of Middle East crude oil.
Source: Bloomberg
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C-NLOPB: Implementation Strategy for the Offshore Helicopter Safety Inquiry (Canada)

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced  early steps in an implementation strategy for the Offshore Helicopter Safety Inquiry Phase I Report Recommendations.
[Read more]
Source: Offshore Energy Today
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Vantage Drilling Updates Status of Platinum Explorer

Vantage Drilling Company  is pleased to announce that the ultra-deepwater drillship, the Platinum Explorer, has set sail from Singapore and is currently enroute to India to commence a five year contract with Oil & Natural Gas Corporation Limited. The Platinum Explorer is expected to arrive in India on December 16th where it will clear customs before mobilizing to its first drilling location.
Source: Press release
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Det norske Completes Drilling Operations on Stirby

Det norske oljeselskap ASA has as operator completed exploration well 24/12-6S T2 in PL 341, located about 75 kilometers north of the North Sea Sleipner field.
In the Upper Jurassic primary target, at about 4330 meters depth, only thin sand stones with no hydrocarbons were encountered. 
In the secondary Mid Jurassic target, at about 4870 meters depth, approximately 100 meters of massive sand stones with low porosity were encountered. Logs indicated gas and condensate, but it has not been possible to verify these hydrocarbon indications with pressure samples. The well will thus be classified as dry. 
The well was drilled to a total depth of 5050 meters and ended in water bearing sandstones in Lower Hugin or Sleipner formations. 
The well will be permanently plugged and abandoned. Well 24/12-6S T2 was drilled with the Songa Delta semi submersible drilling unit. The next assignment for Songa Delta will be to drill appraisal well 35/12-3 for Wintershall in PL 378.
Source: Press release
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Rowan Appoints Suzanne P. Nimocks as New Director

Rowan Companies, Inc. is pleased to announce the appointment of Suzanne P. Nimocks to its Board of Directors as of today.  Ms. Nimocks recently retired from McKinsey & Company, Inc., a global management consulting firm, where she served as a director (senior partner) from June 1999 to March 2010 and was with the firm in various other capacities since 1989.  Ms. Nimocks also serves on the Board of Directors of Encana Corporation.
Jack Lentz, the Company's Chairman of the Board, stated, "We are delighted to have Ms. Nimocks join our Board today. We are confident that her qualifications and experience in consulting engagements across the energy sector including strategy, organization and risk management will make her a strong contributor to the Rowan Board of Directors."
Ms. Nimocks holds a Bachelor of Arts in Economics from Tufts University and a Masters in Business Administration from the Harvard Graduate School of Business.
Source: Press release
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Signal International refurbishes Mobile shipyard

Signal International Inc. recently completed a $9 million yard and dry dock renovation at its shipyard in Mobile, Alabama.
The former Bender Shipbuilding facility is now the home of Signal Ship Repair, SSR, and is the flagship vessel repair and new construction division for ships, workboats, and tugs in the Signal family of yards.
Source: MarineLog
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Sunseeker brings two new yachts to the London International Boat Show

Sunseeker International will launch two new yachts at the forthcoming Tullett Prebon London International Boat Show, at Excel London from 7-16 January 2011. The all new Predator 115 and the Manhattan 73 are both exciting additions to the Sunseeker range, maximising internal space and combining exhilarating performance with luxurious design.
Source: Super Yacht Times
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STX OSV Secures Contract for Platform Supply Vessel of Own Design

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, is pleased to announce that it has secured a new contract for the design and construction of a Platform Supply Vessel of PSV 09 design for an undisclosed international customer.
The vessel is scheduled for delivery from STX OSV in Norway in 2012. The hull will be delivered from STX OSV in Romania. The STX OSV PSV 09 is designed by STX OSV Design in Ålesund, Norway. The overall length of the vessel is 87.9 meters and it has a beam of 19 meters.
With this latest contract, STX OSV will have an orderbook of 50 vessels as at 13 December 2010, out of which, 17 will be delivered in 2012.
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CMA CGM Group launches Africa's largest container vessel in Ghana

The CMA CGM Group has inaugurated the biggest container vessel from Asia to West Africa in Ghana.
The vessel, named CMA CGM Africa One, has a capacity of 3,600 teus, which means it can carry 3,600 of 20 footer containers.
Source: Ghana News
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Possibility of 17 Missing Sailors Surviving Very Low

It seems there's little hope of survival for the 17 missing crew members of a Korean fishing vessel which sank in waters off the Antarctic on Monday.
Source: Arirang News
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Storms sink ship off Israel

ELEVEN Ukrainian seafarers have been rescued from lifeboats after their general cargo ship reportedly sank in storms off Israel.
Source: Safety at Sea
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Passengers safe after scary cruise

PASSENGERS were recovering today in Valletta as repairs began for a RCCL cruise ship battered by a high waves in an eastern Mediterranean storm.
US passenger Evelyn Hoffa told CBS today that it was “horrifying” as strong winds resulted in 30-foot waves crashing above the 10th-floor windows of Royal Caribbean Cruise Line’s Brilliance of the Seas.
Source: Safety at Sea
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Titan offloads yard to Grand China

The debt laden Titan Petrochemicals Group said Monday it has signed an agreement to sell a 95% stake in Titan Quanzhou Shipyard to rapidly expanding Grand China Logistics for Yuan 1.866bn ($280m).
Source: Seatrade Asia
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Mærsk sells the last three M-class vessels

A P Møller-Mærsk has reportedly sold three older container carriers to Mediterranean Shipping Company, MSC, for an undisclosed sum. A P Møller-Mærsk has not made any comments so far.
Source: Shipgaz
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Hapag-Lloyd orders 13,000 TEU ships

Hapag-Lloyd yesterday ordered four containerships with a capacity of 13,200 TEU each from South Korea's Hyundai Heavy Industries. It also bought back its company headquarters in Hamburg's Ballindamm.
Source: Marine Log
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Chinese, German ships collide in North Sea

A Chinese cargo ship carrying fertilizer and fuel sustained major damage and required a tow to port after colliding with a German vessel in the North Sea, the Danish Navy said on Monday.
Source: Global Nation
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Half of ownership interest of STX Helsinki shipyard likely to be sold to Russia

South Korean shipbuilding company STX is selling half of its ownership interest in the Helsinki shipyard to the United Shipbuilding Corporation (USC), owned by the Russian government.
According to the Finnish Broadcasting Company (YLE), the contract of sale will be signed today, Friday, in St. Petersburg in connection with a meeting between the Finnish Prime Minister Mari Kiviniemi (Centre Party) and her Russian counterpart Vladimir Putin.
Source: Helsingin Sanomat
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JKX says Ukraine well very encouraging

JKX Oil & Gas has completed and tested horizontal well R-103 in the Rudenkovskoye gas field in Poltava, Ukraine, and initial flow rates have exceeded expectations. 
[Read more]
Source: Sharecast
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Vietsovpetro extends co-operation

The Russian-Vietnamese oil and gas joint venture Vietsovpetro has agreed to extend its co-operation for an additional 20 years.
During the 38th meeting of the joint venture held last Friday in Vung Tau, Nguyen Huu Tuyen, Vietsovpetro's general director, said the joint-venture council had completed the paperwork to extend the partnership through 2030.
[Read more]
Source: Vietnam News
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PGS to pay dividend, sees higher 2011 profit

Norwegian oil services company Petroleum Geo-Services said on Tuesday it would pay a dividend for the first time since 2007 and forecast a rise in profit next year that was smaller than analysts expected.
[Read more]
Source: Reuters
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Drillsearch Energy Limited Announces Innamincka Petroleum Limited Scheme of Arrangement

Drillsearch Energy Limited wishes to advise that the requisite majority of Innamincka Petroleum Limited shareholders voting in favour of the Scheme of Arrangement was not achieved at today's Scheme Meeting. We note that 96.86% of voting shareholders supported the Scheme, with a small number of key shareholders voting against the Merger.
[Read more]
Source: ABN News
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US says Sudan out of time on Abyei referendum

Sudan has run out of time to organize a referendum on the future of its disputed Abyei region, meaning the North and South must agree to a political solution for the oil-rich territory, a senior U.S. official said on Monday.
[Read more]
Source: Reuters
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