BP today announced the successful start-up of the world’s deepest subsea multi-phase pump project, a breakthrough in application of a technology with the potential to increase recovery of oil from deepwater fields. Installation of the two subsea pumps and associated equipment at the King field in th
BP announced today that it is moving into the Canadian oil sands by acquiring a half-share in the Sunrise field in Alberta operated by Husky Energy. At the same time Husky will acquire a half share in BP’s Toledo oil refinery in Ohio, US, between them forming an integrated North American oil sands b
StatoilHydro has together with operator Anadarko Petroleum Corporation and its co-owners made an oil discovery at the West Tonga prospect in the deepwater US Gulf of Mexico. The West Tonga prospect is located in Green Canyon block 726, close to the Tonga discovery where StatoilHydro also has a worki
Eitzen Chemical ASA has reached an agreement to sell the SICHEM METANOL (6,525 dwt, built 1984). The delivery is expected to take place before 5 January 2008. The company will book a gain of approximately USD 0.8 mill. from the sale.
Volga Gas Plc, the independent gas exploration and production company, which currently holds four subsoil licences in the Volga region of European Russia, today announces that oil production has commenced from Uzenskaya £1 and first revenues have been received. The Company has structured an agreemen
Chevron Corporation today announced a $22.9 billion capital and exploratory spending program for 2008, a 15 percent increase from estimated outlays of $20 billion in 2007. Included in the 2008 program are $2.6 billion of expenditures by affiliates, which do not require cash outlays by Chevron’s cons
Bob Oatley’s two-time Rolex Sydney Hobart line honours winner and record breaker, Wild Oats XI, has moved one step closer to this year’s start line with the successful installation of the yacht’s new mast this afternoon at Woolwich Dock. The towering black carbon fibre mast, reaching almost 45 metre
Total announces that it has signed an agreement with Sinopec to farm into two onshore exploration blocks in Yemen with an interest of 40%. The agreement was recently approved by the Yemeni government. Block 69, which covers an area of 1,333 square kilometres, is located in central Yemen’s Marib Basi
Aker Kvaerner today celebrates the success of the company’s MultiBooster pump technology that is now operational at BP’s King field in the Gulf of Mexico. BP expects the two subsea pumps to enhance production by an average of 20 percent.
Hercules Offshore, Inc. announced today that Oil and Natural Gas Corporation Limited (ONGC) has awarded three-year contracts for the Hercules 258 and Hercules 260 jackup rigs for drilling operations offshore India. The contract for the Hercules 258 is expected to commence in mid-second quarter 2008
Husky Energy Inc is pleased to announce that an agreement has been reached with BP to create an integrated, North American oil sands business consisting of pre-eminent upstream and downstream assets. The development will be comprised of two joint 50/50 partnerships, a Canadian oil sands partnership
DryShips, Inc., a global provider of marine transportation services for dry bulk cargoes announced today the following: • The company has entered into an agreement to purchase a 2001 built, 172,579 dwt Capesize bulk carrier, for US$152.25 million. The vessel will be delivered charter free during the
Northern Ireland’s fishing industry has been given an investment boost of more than £25m. Fisheries Minister Michelle Gildernew said £12.76m European funding would be matched by a grant from the assembly.
The exploits of PUMA Ocean Racing are creating quite a fuss among local media in Boston where skipper Ken Read is continuing crew training aboard the Volvo Open 70 PUMA Avanti (formerly ABN AMRO TWO). David Schmidt, the Associate Editor of SAIL Magazine, was fortunate enough to go along for the ride
