Total and Shell told to use it or lose it
IRAN has told Total and Shell that it will not extend the deadlines for completion of their South Pars development contracts beyond the present June, 2008, deadline.
Moscow tightens screw on TNK-BP
A TOTAL of 148 BP employees working for TNK-BP have been recalled from Russia due to problems with registration, the joint venture has said.
May mooted for JDZ licensing
IT SEEMS that the long-awaited award of the last two blocks (5 and 6) in the licensing round for concessions in the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ) will now be made in May, according to Patrice Trovoada, prime minister of Sao Tome. The round had been suspended 18 months ago.
Epi-V fund gets stuck into Norwegian Tarblaster outfit
UK PRIVATE equity fund Epi-V has taken an 18% stake in Tarblaster, a Norwegian company that specialises in technology designed to increase the efficiency of the oil recovery process for oil sands. The business was launched in 2006 by Olav Ellingsen, an entrepreneurial developer of innovative oil-recovery technologies. Epi-V's investment will enable Tarblaster to scale up its new technology and begin successfully commercialising it for the global oil sands market.
Scottish Offshore Achievement Awards 2008
Seawell places WSU order
Norwegian company Seawell Management has stated its intent to order a new well service unit (WSU) from German company Streicher at a cost of $50million. If options for a further two units are exercised, this will bring the bill to $150million.
Goal – to turbo-charge business
Locke says the game plan isn't a secret; returning to the market after three to five years, perhaps longer, is quite likely, but only after growing the business substantially.
Growing from a position of strength
THE scale of growth that Locke has in mind requires in the order of $500million - a sizeable war chest with which to hit the acquisitions trail - and First Reserve is ready to step up to the plate. He doesn't want to see Abbot eclipsed by competitors or fall prey to them.
Field development and recovery still possible
There are differences on basic issues between Iraq's political parties and groups, and these are not expected to be resolved in the near future.
Caledus technology set for Sakhalin
Well construction technology company Caledus has secured a milestone contract to provide bespoke equipment for some of the most complex extended-reach wells in the world.
Petro-Canada looks to have Tobago gas triumph
PETRO-CANADA has apparently made a significant natural gas discovery in offshore Tobago deepwater block 22.
Lucky strike for Brazil in deepwater Santos Basin
PETROBRAS has revealed that it has made a significant gas and condensate field discovery in the pre-salt layer in block BM-S-24 of the ultra-deepwater Santos Basin.