North Sea

UK new tax policy triggers North Sea Kraken heavy oil development

EnQuest to award Kraken FPSO to Bumi Armada The Scottish joint venture made of Aberdeen-based EnQuest and First Oil plc ( First Oil) companies together with the Edinburgh-registered Cairn Energy plc (Cairn) have issued a letter of interim agreement (LOIA) to the Malaysian engineering company Bumi Armada (Bumi) for the design and construction of the …

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Total, Gazprom and Tecpetrol to monetize Bolivia gas discoveries

Total made final decision to develop Incahuasi gas field The French major company, Total and its partners, Gazprom from Russia and Tecpetrol de Bolivia (Tecpetrol), made the final investment decision (FID) to develop the gas and condensate discoveries from Incahuasi in Bolivia. In a country where the production of natural gas is historically dominated by …

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Petronas to start Baram Delta Gas Gathering project development

Malaysian RNZ wins FEED contract on Bardegg-2  The national oil company (NOC) Petronas selected the local engineering services provider RNZ Integrated (RNZ) to perform the front end engineering and design (FEED) of the Baram Delta Gas Gathering phase two (Bardegg-2) project on the Baronia field offshore Miri in the Sarawak province in Malaysia. In this …

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Chevron awards FPSO for $6 billion Rosebank project in UK North Sea

Hyundai Heavy Industries (HHI) wins Rosebank FPSO The super major Chevron from USA and its partners, Statoil from Norway, OMV  from Austria and Dong from Denmark, have awarded the Floating Production, Storage and Offloading (FPSO) vessel of the Rosebank project to the South Korean Hyundai Heavy Industries (HHI). The Rosebank project is located 175 kilometers northwest of the …

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Maersk to expand DUC in Danish North Sea with a new ptaform

Maersk awards Tyra Southeast production platform  AP Moeller – Maersk (Maersk) and its partners in the Danish Underground Consortium (DUC), Shell, Nordsofonden and Chevron have decided to invest $800 million capital expenditure in a new offshore platform at the Tyra Southeast oil and gas field. Located  approximately 200 kilometers offshore the west coast of Denmark …

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BP to increase capital expenditure to $27 billion annually by 2020

BP to focus on crude oil Exploration & Production  UK major BP PLc (BP) is planning to increase its capital expenditure per year from $19 billion in 2011 and $22 billion in 2012 to $24 billion in 2014 and $27 billion by 2020. After Macondo blow and TNK-BP turbulences, BP is presenting its strategy to boost …

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US Government to replace WTI for crude oil prices benchmark

EIA to adopt North Sea Brent crude oil as benchmark US Government energy agency, the Energy Information Administration (EIA) published in its annual energy out look its decision to replace the historical West Texas Intermediate (WTI) crude oil traded on New York Mercantile Exchange by the European Brent listed on the Inter Continental Exchange (ICE). …

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Gazprom opens North Pole sea route with first LNG carrier

Gazprom first LNG shipment from Norway to Japan Gazprom prepared and implemented successfully the first shipment of liquefied natural gas (LNG) through the freezing Northern Sea Route (NSR) around the North Pole from Norway to Japan. Leaving the Port of Hammersfet in Norway on November 9th, the Ob River LNG carrier reached the Port of Tobata …

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