Greenpeace occupies oil rig off Istanbul

Greenpeace says its activists have climbed aboard an oil rig to prevent its departure for Greenland to begin drilling in the Arctic.

The environmental group said Friday activists used speedboats to intercept and climb aboard the Leiv Eiriksson as it left Istanbul. The group said activists had unfurled a banner reading: "Stop Arctic destruction."
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Source: AP

Posted on 4/22/2011 / 0 comments / Read More

Lukoil and Rosneft Sign a Deal on Long-term Cooperation

Today, President of Rosneft Eduard Khudaynatov and Head of Lukoil Vagit Alekperov signed an agreement on long-term cooperation between their companies. Deputy Prime Minister Igor Sechin was present during the signing ceremony.

Capitalizing on the successfully developing cooperation between the two companies and striving for improved profitability of existing projects, Rosneft and Lukoil agreed to combine efforts in the following areas:

exploration, development and transportation of hydrocarbons on the license areas in the Nenets Autonomous District;
exploration on Rosneft’s license areas on the Russian Arctic shelf and development of the already discovered fields in accordance with the Russian law;
development of the market for locally produced petroleum products, petrochemicals, gas derivatives and motor oils;
joint marketing of associated and natural gas from Bolshekhetskaya and Vankor fields;
reciprocal deliveries of petroleum products, liquefied gases and petrochemical products to distribution and production facilities of both companies;
joint search for ways to improve marketing of petrochemicals, gas and oil derivatives in Russia and abroad;
joint use of the existing logistical infrastructure, including crude oil, petroleum and petrochemical products export facilities; preparation and execution of petroleum products transportation projects, including the construction of a petroleum products pipeline to the "Moscow product ring" and the "South” project.

Speaking about the signed agreement, President of Rosneft Eduard Khudaynatov remarked: "It goes without saying that with the existing fiscal environment, infrastructural constraints and the growing proportion of difficult reserves, we need to expand our cooperation and combine efforts to improve efficiency of our projects."

In his turn the Head of Lukoil Vagit Alekperov said: "We expect that the long-term cooperation with Rosneft will help our company to gain access to large new hydrocarbon reserves in Russia".

By 15 May 2011 the Parties will have to establish joint teams for the above areas and by Au
Source: Rosneft

Posted on 4/22/2011 / 0 comments / Read More

Malfunction Occurred on CNOOCs FPSO Haiyangshiyou 102

CNOOC Limited (the “Company" , NYSE: CEO, SEHK: 0883) announced today that, a malfunction occurred on the single point mooring system of the Floating, Production, Storage and Offloading (FPSO) vessel “Haiyangshiyou 102” serving in the Bohai Bay due to rough sea conditions. Operations were immediately shut down at the affected oilfields.

Till now, the “Haiyangshiyou 102” FPSO has been safely secured and tugged to safe area. There were no injuries during the process and no oil spill was found. The Company is actively working on the recovery plan to resume production as early as possible.

The oilfields affected this time include Bozhong (“BZ”) 28-2 S, BZ 28-2 SN, BZ 34-1N and BZ 29-4. All of these four fields are owned and operated by the Company. The total production capacity was approximately 39,000 barrels per day.

The Company maintains appropriate insurance coverage of the operations related to the oilfields.
Source: CNOOC

Posted on 4/22/2011 / 0 comments / Read More

Transocean Issues Update on Macondo Incident

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced today that an affiliate of BP plc on April 20, 2011 filed a cross-claim against Transocean entities in the existing Multi-District Litigation proceeding in the U.S. District Court, Eastern District of Louisiana for contribution pursuant to the Oil Pollution Act of 1990. Pursuant to an order of the court, co-defendants in a consolidated proceeding related to the Macondo well incident were required to file claims by April 20, 2011.

To protect its rights, Transocean also filed cross-claims against BP entities and other parties involved in the Macondo well incident to enforce its indemnification rights.

Under the drilling contract for Deepwater Horizon, BP has agreed, among other things, to assume full responsibility for and defend, release and indemnify Transocean from any loss, expense, claim, fine, penalty or liability for pollution or contamination, including control and removal thereof, arising out of or connected with operations under the contract. Transocean expects BP to honor its contractual indemnification obligations under the contract. The Deepwater Horizon drilling contract with BP can be found in the company's August 4, 2010 10Q filing with the SEC.

About Transocean Transocean is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 137 mobile offshore drilling units as well as one ultra-deepwater newbuild drillship and three high-specification jackups under construction, Transocean's fleet is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. Transocean owns or operates a contract drilling fleet of 47 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 53 Standard Jackups and other assets utilized in the support of offshore drilling activities worldwide.

For more information about Transocean, please visit our website at www.deepwater.com.

SOURCE: Transocean Ltd.

Posted on 4/22/2011 / 0 comments / Read More

Westsrar Complets Landmark Offshore Aviation Deals

Weststar Aviation Services Sdn Bhd has completed landmark offshore aviation contracts with five major players in the oil and gas industry to provide Rotary Wing Services for the next 10 years worth an estimated RM4.2 billion.
Group managing director Tan Sri Syed Azman Syed Ibrahim said the company has been engaged to provide helicopter transport services for Petronas Carigali Sdn Bhd, ExxonMobil Exploration and Production Malaysia Inc, Newfield (Malaysia) Inc, Petrofac (Malaysia-PM304) Ltd and Talisman (Malaysia) Ltd.
The contracts were secured through open tender process and the largest in Weststar Aviation’s history, further strengthening its position as a leading aviation service provider in the South East Asian region, with a total fleet of 19 helicopters, it said.
There is great potential for Weststar’s growth in the oil and gas sector and it fully intends to expand into providing overseas offshore aviation services in the near future, focusing especially on the South East Asian region, Syed Azman said.
“We have been invited to partcipate in a tender exercise with PTT Thai,” he added.
Weststar has a total of 19 helicopters, with 11 helicopters dedicated for providing offshore aviation services.
For the new contracts, operations will be carried out from Weststar Aviation’s bases in Kerteh and Kota Bharu using nine state-of-the-art Agusta Westland AW139 helicopters.
The company is already servicing Carigali Hess at its Kota Bahru base in a separate arrangement.
Source: Bernama

Posted on 4/22/2011 / 0 comments / Read More

BP Commits to Early Restoration Projects Along Gulf Coast

Effort aims to restore natural resources affected by spill 

BP Exploration & Production, Inc. (BP) today announced it has signed a ground breaking agreement with federal and state agencies that will accelerate work starting this year to restore areas of the Gulf of Mexico that were affected by the Deepwater Horizon accident.

The agreement commits up to $1 billion to projects that will restore injured natural resources in the Gulf at the earliest opportunity. It allows projects important to the Gulf’s recovery to begin now, as early restoration projects, rather than waiting for the Trustees to complete all of the Natural Resource Damage Assessment (NRDA) studies that are underway. The projects will undergo public review before they are funded, and priority will be assigned to projects aimed at improving areas that offer the greatest benefits to wildlife, habitat, and recreational use.

“BP believes early restoration will result in identified improvements to wildlife, habitat and related recreational uses in the Gulf, and our voluntary commitment to that process is the best way to get restoration projects moving as soon as possible,” said Lamar McKay, chairman and president, BP America Inc. “Our voluntary agreement to accelerate restoration projects builds upon the cooperative approach BP has taken toward working with Gulf communities and regulators since the accident, and in assessing the potential injury to natural resources. We hope to work in partnership with the Trustee Council to address injured resources in the Gulf as soon as possible. We believe the early restoration projects to be funded through this agreement represent the best way forward in restoring the Gulf.”

BP's commitment to early restoration is not required by the Oil Pollution Act (OPA) at this stage of the NRD process, and will have the effect of speeding up restoration work that otherwise likely would be deferred for several years, while the NRD assessment continues.

OPA directs the federal and state Trustees to study potential injuries, complete a report that identifies the injuries resulting from the incident, and develop restoration plans to address the identified injuries. The process typically takes years to complete. Shortly after the incident, BP began working with federal and state agencies to collect data needed to assess damages to natural resources, through the NRDA process. Over 100 cooperative studies are underway to evaluate the potential for injury to all types of wildlife and habitat in the Gulf of Mexico.

Under the expedited restoration framework made possible by this agreement, and to allow restoration to begin as quickly as possible, the Trustees will use the study data they have collected to date to identify injuries that are evident now and propose plans to restore those resources at the earliest opportunity, focusing on projects that can start in 2011 and 2012. According to the agreement, “the Parties intend to work cooperatively to seek to achieve significant, meaningful restoration of natural resources in the Gulf of Mexico.”

For reference, the NRDA trustees who are party to the agreement include representatives from all five states. The parties include:

• Alabama (Alabama Department of Conservation and Natural Resources, Geological Survey of Alabama);
• Florida (Florida Department of Environmental Protection);
• Louisiana (Louisiana Coastal Protection and Restoration Authority, Louisiana Oil Spill Coordinator’s Office, LouisianaDepartment of Environmental Quality, Louisiana Department of Wildlife and Fisheries, Louisiana Department of Natural Resources);
• Mississippi (Mississippi Department of Environmental Quality);
• Texas (Texas General Land Office, Texas Parks and Wildlife Department, Texas Commission on Environmental Quality);
• The National Oceanic and Atmospheric Administration (“NOAA”);
• The Department of the Interior (“DOI”).

Source: BP

Posted on 4/22/2011 / 0 comments / Read More

ENSCO 8504 Ultra-Deepwater Semisubmersible Contracted in Brunei

Ensco plc (NYSE: ESV) announced today that a subsidiary of the Company has entered into a drilling contract for ENSCO 8504 with TOTAL E&P Deep Offshore Borneo B.V. Delivery from the shipyard in Singapore is planned for the end ofJuly 2011 and the contract commencement will follow sea trials and mobilization to Brunei.

Chairman, President and Chief Executive Officer Dan Rabun commented, "We are very pleased that TOTAL has chosen ENSCO 8504 for its drilling program. Our ENSCO 108 jackup drilling rig currently is working for TOTAL in Brunei and we appreciate the opportunity to expand our relationship with our latest 8500 Series rig. Brunei is an emerging deepwater basin and we look forward to entering this market with one of our deepwater rigs for the first time.”

The initial contract term is for drilling three exploration wells for a minimum of 180 days with a base day rate of $423,500. TOTAL may extend the term by exercising up to four options. The first two options may be exercised to complete up to three additional wells at the same day rate. The third and fourth options may be exercised to complete up to six additional wells at an escalated day rate. The fee for rig mobilization from Singapore to Brunei is $3.5 million.

When ENSCO 8504 commences operations later this year, it will become the sixth ultra-deepwater rig in the active fleet. Ensco’s other deepwater rigs are contracted in Brazil, the U.S. Gulf of Mexico and French Guiana. Two additional ENSCO 8500 Series^® rigs are under construction with deliveries scheduled in the first and second half of next year.

Ensco plc (NYSE: ESV) brings energy to the world as a global provider of offshore drilling services to the petroleum industry. With a fleet of ultra-deepwater semisubmersible and premium jackup drilling rigs, Ensco serves customers with high-quality equipment, a well-trained workforce and a strong record of safety and reliability. Ensco recently earned the top rating for overall customer satisfaction in the leading independent survey conducted by EnergyPoint Research with #1 rankings in eleven separate categories. To learn more about Ensco, please visit our website at www.enscoplc.com. Ensco plc is an English limited company (England No. 7023598) with its registered office and corporate headquarters located at 6 Chesterfield Gardens, London W1J 5BQ.

Ensco uses its website to disclose material and non-material information to investors, customers, employees and others interested in Ensco. To receive regular updates on Ensco news or SEC filings, please sign-up for Email Alerts on the website.

Statements contained in this news release that state Company or management intentions, hopes, beliefs, anticipations, expectations or predictions of future events are forward-looking statements. Such forward-looking statements include references to the expected delivery dates of ENSCO 8504, ENSCO 8505 and ENSCO 8506, mobilization, revenue, commencement and term of the ENSCO 8504 contract with TOTAL.

It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. The factors that could cause actual results to differ materially from those in the forward-looking statements include the following: (i) changes or delays in the anticipated rig construction, sea trials, mobilization and commencement, (ii) changes in the actual drilling contract revenues or term, (iii) renegotiation, cancellation, or breach of contracts, (iv) shipyard risks, (v) force majeure events, and (vi) the operational and other risks described from time to time in the Company's SEC filings. Copies of such SEC filings may be obtained at no charge by contacting our Investor Relations Department at 214-397-3045 or by referring to the Investor Relations section of our website atwww.enscoplc.com.

The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements to reflect any change in Company or management expectations or any change in events, conditions or circumstances on which any such statements are based.

Source: Ensco plc

Posted on 4/22/2011 / 0 comments / Read More

Golar Announces West Java FSRU Contract

Golar LNG Energy on Wednesday announced that the long term Floating Storage and Regasification (FSRU) and Mooring time charter with PT Nusantara Regas, a joint venture between Pertamina and PGN ("West Java FSRU Project "), has been concluded and was executed on April 20, 2011.

The contract duration is for an initial term of approximately eleven years with automatic conditional extension options up to 2025. The West Java FSRU Project contract value for the initial period is approximately US $500 million.

Since the execution of the Letter of Intent in November 2010, Golar has ordered the long lead items, carried out conversion engineering and the vessel nominated for this contract, "KHANNUR" has been positioned to Singapore where the physical conversion works are now underway at Jurong Shipyard in Singapore.

Upon completion of conversion and delivery in the first quarter of 2012, "KHANNUR" will be permanently moored at a purpose built mooring structure located 15 km offshore West Java. The converted "KHANNUR" will be capable of storing approximately 125,000 cubic meters of LNG and delivering up to 500 MMSCFD (~3.8 MTA) of regasified LNG via Nusantara Regas's pipeline to fuel for two Power Plants owned and operated by Perusahaan Listrik Negara ("PLN"), Indonesia's national power company.

The Golar group has already completed three FSRU conversions over the last three years. The FSRU for the West Java FSRU Project will be similar in design to the latest of these three projects, the "GOLAR FREEZE", which recently delivered under a long term contract in Dubai. The West Java FSRU Project will be Indonesia's first LNG regasification terminal and significantly, the first FSRU project in Asia. Golar is currently bidding on PGN's FSRU, Mooring and Pipeline tender to be located offshore Medan, Sumatra.

Golar Energy's FSRU technology offers reliable and cost effective solutions to fast track the import and regasification of LNG.

Golar Energy's CEO, Doug Arnell said "We are very proud to have executed this foundation agreement for the West Java project. We also wish to express our appreciation to the Nusantara Regas team for their dedication in finalizing the contract. We believe this contract for Indonesia and Asia's first FSRU will be the catalyst for the development of additional floating LNG projects within the Asia Pacific region. Indonesia has announced plans for more FSRU projects to include small scale LNG projects and we look forward to having the opportunity to deliver more fast track and low cost solutions."
Source: Golar Energy

Posted on 4/22/2011 / 0 comments / Read More

STX mulls sale of $240 mln stake in STX OSV, eyes IPOs

South Korea's STX Group is considering selling an additional 20 percent stake in Singapore-listed shipbuilder STX OSV , worth around 260 billion Korean won ($240.5 million) in May or June, the company said on Friday.
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Source: Reuters

Posted on 4/22/2011 / 0 comments / Read More

Smooth Delivery of 12-Streamer Seismic Vessel “COSL 720”

China Oilfield Services Limited （“COSL” or the “Company”） announces today its successful delivery of 12-Streamer Seismic Vessel “COSL 720” in Shanghai Shipyard Co. Ltd. （“Shanghai Shipyard”）, Chongming Island Base. The ceremony saw attendance of the representatives from COSL, Shanghai Shipyard and their parent companies.  

COSL 720 is the first large-scale domestic deep-water seismic vessel invested and constructed by COSL. The vessel will be capable of towing 12 streamers each 8000m long to carry out seismic survey operation. The operational indicators have met the international standards with the capability to perform high-density seismic collection for 50-meter-distance streamer. The vessel can withstand the seismic pressure of 3000PSI （regular collection: 2000PSI）, with the endurance of 75 days, designed speed of 16 knots and towing speed of 5 knots, which the speed improved by 30% from the Group’s existing seismic vessels and will significantly reduce the mobilization and demobilization time  and increase operation efficiency. 

As the most advanced deep-water seismic survey vessel built in China so far, COSL 720 is designed to be a safe, highly efficient, environmental-friendly and energy-saving vessel with emphasis on its performance, collection capacity , the equipment stability ,energy saving and emission reduction. COSL 720 is equipped with a new generation of seismic collection system, integrated navigation system and lateral control system. Meanwhile, the full set of remote operating system will increase operation efficiency and reduce labor intensity.. The vessel is equipped with a complete diesel-electric propulsion system which is able to effectively reduce vessel fuel consumption, vibration and noise. The system also contributes to improve the quality of seismic collection and the comfort of working and living environment for the crew.  

After delivery, COSL 720 will commence operation in South China Sea upon completing the collection test of geophysical equipment, the working volume of which is expected to reach 100% in 2011. 

Mr. Li Yong, CEO and President of COSL, said：“Global crude oil price picked up from the bottom and hit USD100 per barrel. Oil companies are gradually increasing their demand for oil and gas exploration. This offers good opportunity for the recovery and development of oilfield services, particularly geophysical services, while bringing new requirements for high quality geophysical services in terms of performance of equipment, technical level and work efficiency. Meanwhile, with China’s progressive advancement of deep-water exploration, COSL will also further embark on its deep-water oilfield service. The successful delivery of COSL 720 enhances COSL’s competitiveness and equipment for geophysical services, and also improves the company’s capability of deep-water services. COSL will continually improve the relevant chains for this service, laying solid foundation for China’s deep-water operation.” 

Source: COSL

Posted on 4/22/2011 / 0 comments / Read More

COSL Pioneer Arrived in Norway Successfully

5:00 pm Norway time on April 18^th, the first semi-submersible drilling platform COSL Pioneer of Norway CDE Company, which subordinate to China Oilfield Services Limited “COSL” or the “Company”, after long sailing journey of over 100 days, successfully arrived in the destination – Keppel shipyard dock located in Sandnes, Norway. 

This sailing took a long time with a long journey. Thanks to careful sailing deployment and cooperation of the crew, COSL Pioneer safely and successfully reached sea areas in Norway, representing its excellent seagoing performance. It set out from Yantai on January 5^th and passed through the Pacific Ocean, the Indian Ocean and the Atlantic Ocean during the whole voyage of 103 days 75 actual sailing days. On the way, COSL Pioneer respectively berthed at the outer anchorage in Dalian, Singaporean, Mauritian, Namibian and Spanish harbors for fuel and material supplies and personnel shift. The total sailing distance exceeds 15,000 nautical miles, setting a new oceangoing voyage record of drilling platform in CDE and even COSL. Meanwhile, COSL Pioneer is the first drilling platform made in China and owned by the Chinese company to enter sea areas in Norway. 

During the voyage, operators made full use of time to familiarize themselves with the equipment, take operating training, conduct equipment commissioning, carry out pre-operation adaptability transformation and other work. They utilized time fully and efficiently and worked with sailing. 

After COSL Pioneer arrived in Norway and was partially transformed required by Party A Statoil, the third-party equipment installation will be completely started, followed by preparation for Party A’s ship acceptance test and related transformation work for AOC certification, in the hope of being putting into operation as early as possible. 

COSL Pioneer during sailing

COSL Pioneer berthing at Keppel shipyard dock in Sandnes, Norway
Source: COSL

Posted on 4/22/2011 / 0 comments / Read More