Atlantic Petroleum spuds wildcat Norwegian well
Exploration and production Company Atlantic Petroleum has announced drilling of its Ivory Well has begun. The Faroese company has a 9% working share in PL 528B which is located in the Norwegian Sea.
Faroe Petroleum awarded licensing options in the Celtic Sea
Independent oil and gas explorer Faroe Petroleum have been awarded three new licensing options in the Celtic Sea. The award was confirmed by the Irish Minister for Communication, Energy and Natural Resources, Alex White.
BG Group receives $350million repayment from Egyptian government
Oil and Gas firm BG Group has received a $350 million repayment of outstanding debts from the Egyptian government. The payment was a result of the country’s government raising funds specifically to help repay debts to the oil and gas sector.
Oil shows confirmed at Horse Hill One
UK Oil and Gas have announced operations at the Horse Hill-1 site produced oil shows during mud logging. The discovery, which shows evidence of reservoirs with oil, was found between a measured depth (MD) of between 2,100 to 2,140 feet.
TransAtlantic hopeful of natural gas price rise in Turkey
TransAtlantic Petroleum has announced its natural gas prices could rise, after the Turkish government increased its natural natural gas price by 9%. The company said it expects its natural gas price sale to increase concurrently following the announcement.
Statoil looks to cut an additional 500 jobs
Norwegian energy firm Statoil may lose an additional 500 workers on top of 1,400 positions which have already been eliminated. The cuts are believed to affect offshore workers and will be made in a bid to cut costs and improve efficiency.
LINN Energy sells assets in US for $2.3billion
Oil and gas partnership LINN Energy has sold some of its assets in the US, creating $2.3 billion in sales. The US oil firm sold its assets in the Texas Panhandle and western Oklahoma to privately held institutional affiliates of EnerVest for $1.95 billion.
Research highlights alarmingly low number of women in engineering workforce
Women account for less than 10% of the engineering workforce in the UK, research has shown. The Institute for Public Policy Research (IPPR) found 16 was the critical age at which females were lost to a potential career in the sector.
Fire on Alaska natural gas platform
A fire at an offshore natural gas platform which forced four people on board to be evacuated has been extinguished by firefighters. The Baker platform in Alaska is operated by Houston-based Hilcorp Energy and a no-fly zone of two miles was put in place.
AMEC strengthens board following acquisition
Engineering service group AMEC has announced two new appointments to its board as non-executive directors once the acquisition of Foster Wheeler has been finalised. Kent Masters, who will join the board alongside Stephanie Newby, is currently President and chief executive officer of Foster Wheeler while Stephanie has been on the board since 2004.
Intertek expands operations in the US
Quality and safety services firm Intertek has expanded its North Dakota Bakken shale oil operations.
Subsea 7 awarded Ivory Coast contract
Subsea 7 has been awarded a contract in West Africa by CNR International (CNRI) to support development of its Baobab Field Phase III development. The contract has already begun for the work in the Ivory Coast with the scope of work covering the installation of spools and umbilical’s.
Energy group boosted by North Sea revenues
An international energy logistics group has been boosted by growth in its North Sea revenues. Peterson Offshore Group BV has announced its consolidated results for the 12 months ending December 31, 2013.
Leni Gas and Oil takes further step in Trinidad
A Caribbean-focused explorer has completed a further step in its 30-well redevelopment of the Goudron Field in Trinidad. Leni Gas and Oil was given the go-ahead to begin drilling 30 new wells at its Gourdon oil field for the first time in 30 years in January.
Financial boost announced for renewable sector
Renewable electricity projects will be able to compete for £300million of financial support, Energy and Climate Change Secretary Ed Davey has announced. The funding for Contracts for Difference (CFD) scheme is aimed at proving long-term certainty for investors as the UK government looks to reform electricity markets and create a new generation of clean, secure supplies.
Ophir Energy announce gas discoveries in Africa
UK-based oil and gas explorer Ophir Energy has announced gas discoveries in its Kamba and Fulusi prospects of 1.03 trillion cubic feet (tcf) in Tanzania. This latest finds, combined with recent volume updates on the earlier discoveries, increases estimates of the total Block 1, 3 and 4 mean (2C) recoverable resources to 17.1tcf.
Dutch-firm awarded contract by BP
Dutch-firm Fugro GEOS has been awarded a contract by oil giant BP for the provision of wellhead and riser monitoring services. The contact will support BP drilling activities for the Quad 204 redevelopment of the Schiehallion field west of Shetland.
Alaskan crude export may increase demand for US oil tankers
The first Alaskan crude export in a decade may herald increased demand for US-built oil tankers because they’re the only kind permitted to handle the cargoes, said Arctic Securities ASA, an Oslo-based investment bank. The Polar Discovery, a crude tanker owned by ConocoPhillips and flying the US flag, is sailing to Yeosu in South Korea, having previously been to Valdez, according to signals from the vessel.
Scottish Enterprise backs ocean renewables
Scottish Enterprise will contribute a six-figure sum towards opportunities for ocean renewables innovation in Europe. Energy Minister Fergus Ewing will make the announcement at the Ocean Energy Conference in Paris today, as part of the first joint call by the Ocean Energy European Research Area Network (ERA-NET) to open up opportunities for ocean renewables innovation.
Brazil sets highest auction price for solar to promote wider use
Brazil’s energy regulator Aneel has set the highest price for wind and solar power at an energy auction this month. Regulators set a ceiling price and developers bid down the coast they’re willing to deliver electricity, with the lowest winning long-term contracts to sell power.
Subsea firm awarded contract for marine energy industry
Subsea engineering and training firm Jee Ltd has been awarded a contract from Scottish Enterprise to develop electrical array cable solutions for tidal energy installations. The £2.4 million contract is part of a pioneering study for the marine energy industry in Scotland and the company will be involved in developing solutions for locating, securing, protecting and recovering cables.
Norwegian pipeline company acquired by ICR Integrity
ICR Integrity Ltd has acquired Quickflange AS, which specialises in weldless pipeline repair and rehabilitation. It follows the management buyout of ICR in March this year which was backed by Graphite Capital, a leading UK mid-market private equity specialist.
Oil company launches interactive game in bid to recruit next generation of innovators
An oil company has launched an interactive game in a bid to recruit fresh talent to its team.
Tax director appointed to lead oil and gas accounts
The largest independent firm of chartered accountants in Scotland has strengthened its oil and gas focus with the appointment of a new tax director. VAT specialist Fiona Weir has joined the tax team at Johnston Carmichael where her key remit will be working with clients in the oil and gas and financial services sectors.
Energy company recruits more staff as it expands worldwide
An international services energy company has added to its engineering team as it expands its operations across the globe.