Australian oil and gas major Woodside Petroleum is to acquire its first offshore exploration acreage in north west Europe. The firm, Australia's largest operator, has agreed to farm-in to three license options in the Atlantic Porcupine Basin…
We have all grown up with the concept of land use planning or town planning to allocate areas of land for certain uses or activities such as business, industry, agriculture, residential, or nature conservation. The same concepts can be applied to marine areas…
Marathon Oil has agreed to sell its 10% working interest in Block 31, off Angola to China Petrochemical Corp. (Sinopec) for US $1.5 billion.. The companies anticipate closing 4Q 2013, with an effective date of January 1, 2013. The transaction will bring Sinopec’s stake in Block 31 to 15%…
ONGC Videsh Ltd. (OVL) and Oil India Ltd. (OIL) have agreed to purchase Videocon Mauritius Energy Ltd.’s 10% share in the Rovuma Area 1 Offshore Block in Mozambique (Area 1) for US $2.47 million. The acquisition will give OVL 60% stake and OIL 40% stake in Area 1…
Tenaris announced that it will provide the TenarisHydril Wedge 623™ Dopeless® and Blue® Riser connections for Shell’s Olympus TLP in the Gulf of Mexico. The Wedge 623™ connections were designed to comply with recent changes in deepwater operating requirements in the Gulf of Mexico…
Viatran Corp. announced the opening of their new Southwest Calibration Center in Houston, Texas. Now owners of Viatran Hammer Union Pressure Sensors in the southwestern states can receive true OEM calibrations and certifications closer to their place of business…
GE announced the grand opening of its new, state-of-the-art customer application center (CAC) in Moscow. At an invitation-only ribbon-cutting ceremony, customers toured the facility and experienced the complete GE Measurement & Control product…
Russian state-owned company Gazprom along with a consortium of Japanese firms have signed a memorandum of understanding (MOU) concerning the development of Gazprom's Vladivostok LNG project. Present for the signing on June 22 were Gazprom Chairman Alexey Miller and Masanori Toyoshima…
Lars Hellberg, president of PowerTech, executive vice president and member of the board of management announced he will leave Wärtsilä to become the president & CEO of Fortaco Group, a Finnish industrial manufacturer. Hellberg is projected to leave Wärtsilä in mid-December 2013…
FMC Technologies, Inc. was awarded a US $1.2 billion contract from Total Upstream Nigeria Ltd. for subsea equipment for the Egina field, and Saipem won a $3 billion contract for the subsea development of the field. The Egina field is located in Block OML 130 offshore Nigeria…
Trinidad and Tobago announced the signing of four production sharing contracts (PSCs) with Australia's BHP Billiton for four deepwater blocks that the company had previously won in December during the country's 2012 deepwater bid round. On…
Total announced that its subsidiary, Total Upstream Nigeria Ltd. (TUPNI), operator of the OML 130 block, and co-venturers have obtained the necessary approvals from Nigerian National Petroleum Corp. (NNPC) to award the main EPC contracts to develop the offshore Egina field…
ABB appointed Ulrich Spiesshofer, the head of its Discrete Automation and Motion (DM) division, to succeed Joe Hogan as CEO. Spiesshofer will transition into this role on September 15, 2013. Hogan will continue with ABB for an unspecified amount of time as senior advisor to the board…
CGGVeritas Services SA began a marine 3D seismic survey on June 10 for Karoon Gas Australia's WA-482-P permit area off the Northern Carnarvon Basin. CGG is utilizing the vessel Geo Caspian. The operation is expected to take abour 56 days…
Helix Energy Solutions Group, Inc. closed the sale of its pipelay vessel, the Caesar, to Trevaskis Ltd. Cash proceeds of approximately US$108 million of the total selling price of approximately $138 million were received at closing; the company…