Subsea 7 announces $85M pipelay contract for Statoil in the North Sea

Subsea 7 Inc. , one of the world's leading subsea engineering and construction companies, announced today the award of an engineering, procurement, installation and commissioning (EPIC) contract from Statoil ASA for the Pan Pandora and Katla fields in the Norwegian...

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Advent approved to drill first well in Australia's Sydney Basin

Advent Energy has received approval to drill New Seaclem-1, the first well planned for the frontier Sydney Basin off the eastern Australian state of New South Wales, the company said Monday. The wildcat gas well is to be drilled to a depth of 826 meters in commonwealth waters, about 55 km(34 miles)...

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Nigerian military warns of action in oil delta

Nigeria's military threatened on Saturday to carry out raids against what it said were camps of criminal gangs in the creeks of the oil-producing Niger Delta, and told civilians in the vicinity to leave. Any major offensive by the armed forces would be the first...

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Bounty Oil And Gas NL Ubute 1 Final Report - Utopia Block

Bounty Oil & Gas NL announces that the Ubute 1 oil exploration well within the northern section of the Utopia block will be plugged and abandoned. Electric logs established the presence of thick sections of the Birkhead and Hutton Formations displaying reservoir...

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QatarGas Train 6 Started First LNG Production This Month

Qatar Liquefied Gas Co., which aims to process 42 million tons of liquefied natural gas a year, began operating its sixth production unit, or train, at the start of this month, the company known as QatarGas said. Train 6 has an annual capacity of 7.8 million tons...

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Repsol's YPF seeks to quote on Latibex exchange

Spanish oil group Repsol's Argentine YPF unit YPFB.BA is seeking to quote on Madrid's Latibex index to garner interest ahead of a planned sale of part of Repsol's stake, a Repsol spokesman said on Saturday. The listing for YPF, which quotes on Argentina's Merval index, will create another platform to...

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Iran says $100 oil won't hurt global economy

Oil prices of up to $100 per barrel would not hurt the global economy and might not create problems, Iran's representative to the Organization of the Petroleum Exporting Countries (OPEC) said here on Sunday.  [Read more] Source: Tehran Ti...

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China may escape gas shortage this winter

China is likely to escape a natural gas shortage this winter as supplies from Central Asia will increase and as the country steps up imports from the spot market, China Energy News reported on Sunday. Hu Weiping, deputy director of Oil and Gas Deparment of the National Energy Amdinstration (NEA), told...

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Iraq's Rumaila oil output to rise by 10 pct in Nov

British oil najor BP and partners were expected to meet an initial target of a 10 percent rise in output from the Rumaila oilfield, the backbone of Iraq's crude production, by end-November, an Iraqi oil official said. Deputy oil minister Abdul Kareem Luaibi said on Sunday the ministry was also examining...

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Iraq signs deals for Mansuriyah, Siba fields

Iraq's oil ministry signed deals with foreign companies on Sunday to develop its Mansuriyah and Siba natural gas fields, as it tries to boost its energy production and break into global gas markets. The OPEC member signed a deal with South Korean group Kogas,...

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Schlumberger to remain in Iran until '13

Schlumberger has signed contracts worth hundreds of millions of dollars with Iran that will keep it in the country until 2013, a spokesman for the company said on Saturday, the Boston Globe reported.  The US accuses Iran of developing a military nuclear program...

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Shell awards EMGS contract offshore Philippines

Electromagnetic Geoservices ASA (EMGS) has been awarded a contract worth in excess of USD 2 million by the block SC60 joint venture, which is operated by Shell Philippines Exploration BV. The work will be performed shortly from the 3D EM vessel BOA Galatea. This...

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Statoil lets contracts on two more fast-track projects

Statoil let a $90 million contract to Subsea 7 Ltd. for the engineering, procurement, construction, and installation of pipelines and control cables for connecting the PanPandora and Katla fast-track developments in the North Sea to existing production installations.  The...

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US rig count increases by 2

The number of rigs actively exploring for oil and natural gas in the U.S. increased by two this week to 1,685. Houston-based Baker Hughes Inc. said Friday that 955 rigs were exploring for natural gas and 720 for oil. Ten were listed as miscellaneous. A year ago...

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Cobalt International amends rig contract with Ensco

Offshore independent oil and gas firm Cobalt International Energy amended its rig contract with Ensco Plc, to "substantially reduce" daily rate in case delays in the issuance of drilling permits in the Gulf of Mexico keep the rig idle. Though the Obama administration in October lifted a ban imposed...

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Ecuador threatens oil companies with eviction

President Rafael Correa said on Saturday that oil private companies that don't sign new services-based contracts must leave the Andean country.  "I'm not playing," Correa said during his weekly media address. "The rules are proposed. Take it or leave it....

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