capital expenditure
Petrobras expects first series of vessels in 2014 – 2015 On end of last year Petróleo Brasileiro S.A. (Petrobras) signed contracts for chartering six pipelay support vessels (PLSVs) for the development of the pre-salt oil and gas fields in the Santos Basin, offshore Brazil. Representing a total of $2.9 billion chartering contracts, these new-build pipelay vessels were […]
Setting the standard in drilling The actual Seadrill assets results from the consolidation of several companies operating in the offshore drilling sector. Registered in Hamilton, Bermuda Islands, in 2005, Seadrill Limited (Seadrill) is listed in Oslo and New York Stock Exchanges. One of the major Seadrill’s acquisition relies on the Norwegian Smedvig asa in 2006. […]
Pemex awards Litoral A series of offshore platforms In October 2012, the national oil company Petroleos Mexicanos (Pemex) selected Dragados Offshore from Spain for the Compresion Alta Litoral A (CA Litoral A) project. This CA Litoral A project is part of the Litoral A Pemex‘s program to develop recent oil discoveries in the shallow waters of […]
Saudi Aramco to require “In-Kingdom EPC” contracts After implementing the General Engineering Services Plus (GES+) initiative at the design phase of the projects, Saudi Aramco is planning to enforce its requirements for the Saudi localization at the execution phase with the “In-Kingdom EPC” contracts. For some years, Saudi Arabia is investigating all the opportunities to use […]
A new force in Exploration and Production On September 2011, Genel Energy (Genel) appeared as a new company resulting from the merger between Vallares PLC and Genel Energy International with a new Chief Executive Officer named Tony Hayward, the former CEO of BP. Immediately, Genel Energy got registered in Jersey, listed at the London Stock […]
Samsung submitted the lowest bid on Luberef refinery Saudi Aramco and Jadwa Investment are reviewing the final technical and commercial offers submitted by the engineering companies for the engineering, procurement and construction (EPC) contracts of the Luberef Yanbu Lube Oil Refinery Expansion. Estimated to require $1 billion capital expenditure, this Luberef Yanbu Lube Oil Refinery Expansion project was tendered […]
World Bank and European Bank for Reconstruction & Development to provide funding to reduce flared gas The World Bank and the European Bank for Reconstruction and Development (EBRD) are calling the oil companies and the producing countries to cut the gas flaring by 30% in the next five years. According to 2011 estimations, about 140 […]
To be a world-leading Energy and Chemical Company China Petrochemical Corporation (Sinopec Group) was established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group is a state wholly owned company with Headquartered in Beijing, China and a registered capital of RMB 182 billion ($30 billion). As a state-owned company, Sinopec Group […]
