Archive for May, 2012

Saudi Aramco to invest $25 billion in Red Sea oil and gas

Aramco to develop deep water exploration and production Saudi Aramco plans to produce natural gas this decade off […]

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Proven reserves

Definition Proven reserves is an industry term that means oil or gas that has been discovered and could […]

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Mustang wins FEED for Saudi Aramco Midyan gas field

Saudi Arabia to switch on Power Generation from Gas With oil price running steadily around $100 per barrel, […]

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Gazprom, Total and Statoil to decide soon about Shtokman

Gas prices and high costs dictate to rethink Shtokman The foreseen capital expenditure for the Shtokman gas field […]

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“FSO”

Definition FSO is the acronym of Floating Storage and Offloading used to describe the offshore operation between the […]

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Aker and CB&I design $5.6 billion Spar for Statoil Aasta Hansteen

Statoil, ExxonMobil and ConocoPhillips rename Luva project into Aasta Hansteen During the concept selection Statoil estimated the development […]

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Technip targets Chemicals and Power with Stone & Webster

Shaw to sell Energy & Chemicals Group (mostly Stone & Webster) to Technip  On May 21st, 2012, The Shaw […]

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“SPAR”

 Definition SPAR is the acronym for Single Point Anchor Reservoir (SPAR). This descriptive definition refers to a floating […]

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BP awards FEED contracts for Mad Dog 2 to Technip and AMEC

Mad Dog: BP’s second giant field in Gulf of Mexico In September 2011, BP announced the drilling of […]

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Mozambique battle intensifies between Shell and PTT

PTTEP bids above $1.9 billion cash to acquire Cove The state owned company PTT Exploration and Production Public Company […]

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