capital expenditure
While the oil and gas production came down in 2011 by 18% to 1.8 million boe, the companies keep high ambition in the North Sea. In its 2012 survey, Oil & Gas UK collected input from the operators and estimated that the capital pending in the North Sea should reach a record high level to […]
Definition: “Upstream” refers to the flow of oil or gas coming up from the reservoir to the surface. By extension “Upstream” has been adopted by the Oil & Gas industry to nominate all activities to pump up the oil and gas. It starts from the exploration to find new reserves onshore or offshore, covers all […]
Definition: “IOC” is the acronym of International Oil Company and nominates the Oil & Gas companies which are privately owned and operate globally. Comment: The most well-known “IOCs” are ExxonMobil, ChevronTexaco, BP, Shell, Total, ConocoPhillips. They are also called the “Major Companies” or simply the “Majors” as they are the biggest petroleum companies in the […]
The State Oil Company of Azerbaijan (SOCAR) has invited local and foreign companies in Baku in April to build the partnerships around this $15 billion oil & gas and petrochemical complex in Baku, Azerbaijan. The project includes a: 10 million t/y refinery including 20 processing units 10 billion cum/y gas processing plant of ethane, propane, […]
Definition: The “NOC” acronym means “National Oil Companies” and refers to the local oil producing companies owned by their respective government. Therefore there are nearly as many “NOCs” as countries in the world, but the most famous ones are: Saudi Aramco, Gazprom, Statoil, Petrochina, Sinopec, Petrobras, ADNOC, Qatar Petroleum, etc…. Comment: Historically the “NOCs” used […]
Technip, in partnership with Daewoo Shipbuilding & Marine Engineering (DSME), was awarded by Dong E&P and Bayerngas, a contract for the HEJRE project development, offshore Denmark, at a water depth of 70 meters. Dong owns 60% of the Hejre field and Bayerngas 40%. Estimated to cost $2.18 billion, this contract covers engineering, procurement, fabrication, hook-up, […]
Well supported by its financial performances and the sustainable price of the oil, Statoil has announced on the last weeks a series of projects. Snorre A Platform revamping Statoil awarded Aker Solutions the $179 million contract for the revamping and up grading of the drilling equipment and system on the Sorre A platform to extend […]
On February 27th the gas price in North America reached a new low at $2.57 per million btu with all chances to stay below $3 for a while. In dividing the gas price by four since its peak at $13.5 per million btu in July 2008, the massive development of the shale gas is not […]
