Saipem has been contracted by South Stream Transport for the construction of the first line of the South Stream Offshore Pipeline, from Russia to Bulgaria across the Black Sea, for a total value of about US$2.7 billion. The South Stream…
The Sunbird-1 exploration well in area L10A offshore southern Kenya is to be plugged and abandoned after finding hydrocarbons. Pancontinental Oil & Gas, which holds 18.75% WI in the BG Group-operated well, said while hydrocarbons were found…
Kosmos Energy subsidiary Kosmos Energy Deepwater Morocco has spudded the FA-1 well on the Eagle prospect in the Foum Assaka area offshore Morocco, according to partner Fastnet Oil & Gas. The planned target depth is 4000m in about 600m water depth…
Cairn Energy's JM-1 well, offshore Morocco, is to be plugged and abandoned without testing, after funding heavy oil. The JM-1 well (operated by Cairn with 37.5% WI) was drilled to evaluate Upper Jurassic and Middle Jurassic objectives…
Germany’s RWE Aktiengesellschaft has conditionally agreed to sell its exploration and production firm subsidiary RWE Dea AG to Russian-backed LetterOne Group for about Euro 5.1 billion (US$7 billion). LetterOne was founded last year as an investment vehicle…
GE formally opened its newly expanded oil and gas facility in Fót, Hungary. The GE Oil & Gas manufacturing plant has been substantially enlarged with the addition of a new 8000sq m manufacturing facility and a new office building of 3000sq m…
Energistics, the upstream oil and gas standards consortium, and the Society of Exploration Geophysicists (SEG), the international society of applied geophysics, have signed a Memorandum of Understanding to explore joint development opportunities…
BP announced that it has entered into an administrative agreement with the United States Environmental Protection Agency (EPA), on behalf of the federal government, resolving all matters related to the suspension, debarment and statutory…
Germany-based crude oil and natural gas producer is planning to divest its shareholding in the Eastern German company Verbundnetz Gas AG (VNG) as part of its strategy to concentrate on the upstream sector. A 24 March agreement will see EWE Aktiengesellschaft take over Wintershall’s 15…
Minexco Petroleum Inc., the African focused private Oil and Gas Exploration Company, provided details of the petroleum agreement between its subsidiary AGM Petroleum and the Ghana National Petroleum Corporation (GNPC), for their joint project in the South Deepwater Tano Basin…
Petrobras announced that it has completed drilling wildcat well 1-BRSA-1205-RNS (Pitu), located in the Potiguar Basin. The results confirm the discovery of intermediate oil as previously announced to the market on 17 Dec 2013. The Pitu well sits at a water depth of 1731m…
An inquiry into the 2009 North Sea helicopter crash, in which 16 men lost their lives, found that had three failures by aircraft operator Bond Offshore Helicopters not happened, the incident 'might' have been avoided. The Fatal Accident…
Houston-based Energy XXI is set to become the largest public independent producer on the Gulf of Mexico shelf after its acquisition of EPL Oil & Gas for US$1.53 billion. Upon completion of the merger, EnergyXXI projects the company will be worth about $6 billion…
Wrench time has been highlighted as one of the key areas the UK offshore oil and gas industry needs to address to improve production efficiency levels. Average wrench time - the amount of time spent working on a mechanical project, either…
American Electric Technologies, Inc. announced that it has relocated its corporate headquarters to 1250 Wood Branch Park Drive, Suite 600, Houston, TX, 77079. AETI recently reported record 4th quarter revenues and more than 20% revenue growth for 2013…
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