BP has executed a letter of intent to buy into a 25% stake in Fayetteville shale gas onshore in a joint venture with US Chesapeake Energy Corporation for US $1.9 Bn. BP becomes owner of 135,000 acres of the 540,000 net acres of US onshore gas property held by Chesapeake which currently produces 180
The leader of an offshore electro-magnetic survey company believes that the new reservoir mapping technology is sure to be used more and more by E&P companies based on the results achieved so far. Dave Pratt, chief executive of Offshore Hydrocarbon Mapping says in shallow water in the North Sea, “ex
News – September 2, 2008 Jan de Nul has announced that an order for the construction of four split hopper barges has been placed with Tianjin Xinhe Shipbuilding Heavy Industries Co Ltd in Tianjin, China. The four 3,700m³ split barges complete the list of l’Aigle class barges of which five have been
News – September 2, 2008 The Hydrographic Society UK is organising and hosting the 16th European Hydro Conference – Hydro8 – in Liverpool from 4th to 6th November 2008. The venue for the conference and exhibition is the Britannia Adelphi Hotel, situated just a short walk from Liverpool city centre a
News – September 2, 2008 Local developer Brothers Investment Group (BIG) has reportedly been granted permission by the Phnom Penh Autonomous Port and two government ministries to dredge the Mekong and build barriers along the riverside, in a project designed to make the waterway more accessible to l
Team Pindar’s World Match Racing Champion Ian Williams will be looking to better his third place finish in the 2007 event and extend Team Pindar’s lead on the 2008 World Match Racing Tour. The 2008 Danish Open (27-31 August) is being hosted by the Royal Danish Yacht Club in Frederikshavn for the fir
In brisk winds and moderate seas off Cartagena nothing could be taken for granted in conditions which exposed strengths and weaknesses in virtually equal measure to produce an exciting pair of races on the second day of the Region of Murcia Trophy, the penultimate Audi MedCup Circuit regatta of the
Pirates have boarded a US$36million yacht popular with celebrities and robbed its passengers and crew of more than US$180,000 in cash. Just before midnight, the gang of four masked men pulled up alongside the 178ft Tiara in a rubber dinghy off Porto Vecchio in southern Corsica, then stormed aboard w
Britain’s podium-topping sailors were today welcomed home to London, and to the news that leading long-term investments provider Skandia has confirmed its continued support of the British sailing team for the next four years. Skandia Team GBR, the British sailing team in the Olympic and Paralympic C
Dong has been given the green light by the Norwegian Petroleum Directorate (NPD) to drill well 3/7-7 offshore Norway with the Maersk Guardian. The wildcat well will be drilled in production license 289 where Dong is operator with a 40% stake. The other licensees are Talisman (30%), Gaz de France (16
Canadian-based North Sea explorer Stratic Energy has said it will move forward soon on two key UK wells which could lead to new developments. Detailed design is underway for an appraisal well on the Central North Sea Cairngorm discovery with the 16/2-5 drilling operation which is due to get underway
Goliat floating production project bidder Sevan Marine has lined up a location in Hammerfest in northern Norway as its logistics support base as part of its bid to win the competition to supply an FPSO for Eni’s Barents Sea development. Sevan has selected Polarbase to become its shore base to suppor
New Vessels – August 28, 2008 Maritime Journal reports that Hamburg-based hydraulic engineering and port construction company Möbius AG is poised to expand its activities by investing millions of Euros in the construction of two new trailing suction hopper dredgers. The new dredgers being built for
Contracts & Tenders – August 28, 2008 Orion Group in the US has announced a contract award of US$30.5 million. Orion Marine Group’s wholly owned subsidiary, Misener Marine Construction, has been awarded a contract to build a new cruise ship pier for a private customer in Labadee, Haiti. The project
