Norwegian Energy Company (Noreco) announces that the sale of the company’s interests in the Norwegian oil fields Brage and Hyme to Core Energy has now been completed. The consideration to Noreco is USD 85 million net of tax with effective date 1 January 2011. In addition a pro et contra settlement w
Eni has made a new hydrocarbon discovery offshore Ghana through the Gye Nyame 1 well, which is located in the OCTP block 50 km off the Ghanaian shoreline. The well, which was drilled in 519 meters of water, was drilled to a total depth of 3,349 meters and encountered significant thickness of gas and
Royal Dutch Shell’s second quarter 2011 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $8.0 billion compared with $4.5 billion the same quarter a year ago. Basic CCS earnings per share increased by 74% versus the second quarter of 2010. Second quarter 2011 CCS earnings, exclu
SBM Offshore’s Yme and Deep Panuke platforms have now been installed on their respective offshore locations in Norway and Canada. Commissioning activities, as well as remaining construction works are currently ongoing to complete and prepare the facilities for start of production. Due to one client
GDF SUEZ announced today two important milestones in the development of its portfolio of exploration & production assets. These operations are located for the one in a mature area in Norway and for the other in a promising region in Asia. Thus, the Group acquired an additional 20% share in the offsh
Northern announces an update on its Southern Adriatic permits containing the Rovesti and Giove oil discoveries, which hold a combined 53.2 million barrels of 2P reserves. Highlights: – Approval of increase in work programme on each of Southern Adriatic permits F.R 39.NP and F.R 40.NP to include 3D s
Dron & Dickson, specialist in design, supply and maintenance of hazardous area electrical equipment has secured £55million in UK North Sea contract wins for the first half of 2011. During the last 6 months the company has landed both new and extended contracts with oil majors such as Nexen Petroleum
Repsol posted net income of 1.344 billion euros in the first half of 2011, slightly higher than the 1.338 billion euros of the year-earlier period. The group’s operating income totalled 2.722 billion euros compared with 3.004 billion euros in the same period of the previous year. The company’s perfo
Incat Crowther announces the launch of Topaz Zenith. Launched by Topaz Shipbuilding, this innovative 27.6m Wave Piercing Catamaran Crew Boat has been designed to support offshore energy installations. Part of the development of the vessel focused on the development of an unusual platform for the app
Petroleum Geo-Services ASA, a company that provides various seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation published second quarter and first half 2011 results. Jon Erik Reinhardsen, President and Chief Executive Officer or Petroleum Geo-Servi
Statoil has received consent to use Maersk Gallant for exploration drilling of well 2/4-21 as well as an option on sidetrack 2/4-21 A. The well will be drilled in production licence 146/333 and is located in the North Sea about 13 kilometres north of Ekofisk. The closest distance to land (Lista) is
Cathelco have supplied a hull corrosion protection system for the Armada TGT 1, an FPSO which has been converted by the Keppel Shipyard in Singapore for Bumi Armada Berhad. The Armada TGT 1 will be deployed in the Te Giac Trang oilfield off Vietnam by the Hoang Long Joint Operating Company where it
Statoil’s second quarter 2011 net operating income was NOK 61.0 billion (USD 11.15 billion) , a 129% increase compared to NOK 26.6 billion (USD 4.86 billion) in the second quarter of 2010. The quarterly result was mainly affected by a 32% increase in the average prices for liquids measured in NOK, a
Eni has made a new hydrocarbon discovery offshore Indonesia. As the operator, Eni has successfully drilled an exploration well on the Jangkrik North East structure, located in the Muara Bakau block Kutei Basin, east of Kalimantan, 15 Km from the Jangkrik field. The Jangkrik North East discovery repr
