TOTAL has signed an agreement with Nigerian company Conoil Producing to farm into deep offshore block OPL257 for a 40% interest, leaving Conoil as operator with a 50% interest, while another Nigerian company holds the remaining 10%.
STATOILHYDRO is to drill its first offshore prospect as operator in Canada during Q4 this year. The target is the Mizzen prospect (Flemish Pass Basin) off the east coast of Newfoundland and Labrador and the Transocean rig, Henry Goodrich, has been secured for the operation.
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.
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.
PERENCO has been granted five new exploration blocks offshore Brazil in the deepwater sector of the Espirito Santo Basin. The company will operate blocks ES-M-416, ES-M-418, ES-M-472, ES-M-529 and ES-M-531 with 50% interest in partnership with Brazilian companyOGX Petroleo e Gas.
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.
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.
A RELATIVELY new player in the UK North Sea sector, Fairfield Energy, hosted a reception at the Marcliffe Hotel, Aberdeen.
MORE than 400 people attended the 23rd Scottish offshore achievement awards dinner at the Mercure Ardoe House Hotel, near Aberdeen.
AGR will soon be on the move to a new Aberdeen home. The company has outgrown the current premises at Queens Terrace, where it started life as Peak Well Services some years prior to being acquired mid-2006 by Norwegian group AGR.
Dutch group IHC Merwede has taken over The Engineering Business (EB), one of the UK's best design, engineering and construction outfits serving the needs of the offshore industry.
ONE of the upstream petroleum industry's premier charity fundraising events, the BG Energy Challenge, this year takes place in Plymouth on July 10-12.
SCHLUMBERGER has inaugurated a $100million-plus training facility in Tyumen, Siberia, the gateway city to many of Russia's oil&gas resources.
THE Press and Journal and Munro's Travel Group of Aberdeen have teamed up to launch their first Middle East oil & gas conference and exhibition initiative.
ARTHUR Millholland, the founder and president of exploration and production independent Oilexco, will deliver the keynote address at DEVEX 2008, which takes place in Aberdeen next month.
The appetite for mergers and acquisitions in the global oil & gas industry remained robust in 2007, despite the credit crunch sparked by the US sub-prime mortgage lending debacle.
THE value of oil & gas asset deals in Europe climbed above $5.5billion in 2007 after two straight years of decline, driven by a rise in both corporate and asset deal value. Total deal count was flat for the third consecutive year and four of the top eight buyers in Europe were state-owned or controlled, according to analysis by John S. Herold, Inc. and Harrison Lovegrove & Co.
An innovative internet-based system designed to help verify worker competence in the offshore industry has attracted the attention of the UK's Offshore Contractors' Association.
Our oil industry is high value, high risk. When the UK's Corporate Manslaughter Act 2007 comes into force next month, it is expected to herald the start of a new era in the world of health and safety prosecutions.
Five years have passed since US and UK forces invaded Iraq and overthrew Saddam Hussein. There would be few people who expected the problems there to have lasted so long, with little sign of solutions in the foreseeable future.
Shell has signed up to a joint research and development agreement in the US that is intended to make biofuels more efficient and greener.
Amec has made an acquisition calculated to deliver huge leverage to its oil & gas engineering and project management capabilities worldwide.
The current turmoil in the financial markets may feel pretty much irrelevant to anyone working in the oil & gas industry. Believe me, it isn't.
It came out of left field - I mean the £500million conditional deal between Lunar Energy and the Koreans to manufacture and deploy tidal (marine current) turbine technology developed by Aberdeen offshore oilfield company Rotech Engineering.