Novatek Sell 20% Stake in Arctic LNG 2 to China
Russian gas producer Novatek said on that it had signed agreements with two Chinese companies to sell a combined 20 percent stake in its new liquefied natural gas project, Arctic LNG 2.Under the agreement, the Chinese firms -CNOOC and CNODC - will become shareholders in the Arctic LNG project with 10 percent each.
Saipem Settles South Stream Dispute
South Stream Transport, which is responsible for the construction and operation of the TurkStream Offshore Pipeline, and the Italian oil and gas industry contractor Saipem have settled the arbitration concerning the South Stream offshore pipeline installation contract entered into on March 14, 2014.The subsidiary…
Oman LNG Settles $2bln Loan in Advance
Oman Liquefied Natural Gas LLC has announced that it has successfully repaid its US$2 billion loan facility obligation ahead of schedule, saving interest costs.According to Oman News Agency, the move is part of the company’s ongoing efforts to reduce financial costs and support Oman’s credit rating.The agency quoted Dr Mohammed bin Hamad al Rumhi…
Penman to Head up Malin React
Newly launched Malin Group arm Malin React has appointed Graham Penman as a Business Unit Manager to head up its operation.Penman has been appointed to oversee Malin React, one of seven subsidiary brands which make up Malin Marine Limited, formally Malin Marine Consultants Aberdeen. It specializes in complete…
XL Group Acquires AMC
Aberdeen based technology and engineering company XL Group announced on Monday it has acquired Artisan Measurement & Control Limited (AMC) in a move to add expertise, products and services in calibration, measurement, tanker loading, blending, metering systems and instrumentation to its growing list of integrated engineering services.Formed in 2002…
GA Drilling Gets Fund, Signs Pact with MOL
High-tech deep-drilling company GA Drilling signed a EUR 4.2 million funding agreement with Lead Ventures and a service agreement with MOL Group.Lead Ventures, a Budapest based venture capital firm invested funds provided by MOL Group, and Hungarian Eximbank.The deal gives GA Drilling access to onshore production…
Global Energy Takes Over Apollo Offshore
Global Energy Group, the provider of contract services to the oil and gas industry, has bought a majority stake in Aberdeen-based Apollo Offshore Engineering, forming a new contractor firm.The new company will be named Global Engineering and Construction (E&C), combining Apollo’s brownfield engineering capability…
LR Chalks Out Energy Growth Strategy
Lloyd’s Register (LR), which ranks as one of the world’s largest providers of professional services for the engineering and technology sectors, has chalked out a new strategy for future growth in the energy market.The firm, which started out in 1760 as a marine classification society and now has more than 7…
Repsol, Emerson Pact for Geoscience R&D
Emerson and Repsol announced they have established a strategic alliance to deliver advanced subsurface geophysical technologies to reduce the time to prospect and produce first oil.Emerson, a global engineering and technology company, will work collaboratively with Spanish energy company Repsol to implement and deploy advanced subsurface imaging technologies…
Intertek: Independent Hydrocarbon Lab in Iraq
Intertek launched the first independent crude oil, fuel testing and petroleum products laboratory in Iraq. The new hydrocarbon laboratory, located in the port of Khor Al Zubair, will support the increased demand for quality assurance solutions in the petroleum industry across Iraq and will soon be offering…
DEA Extends Concessions in Egypt
German oil company DEA Deutsche Erdoel AG has said it has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez, offshore Egypt. DEA’s General Manager Sameh Sabry signed the new concession agreement. The new agreement extends the concession for five years ending mid-2022.
Australia's Best Option is LNG Imports
Australia has painted itself into a corner with its natural gas industry and faces the stark reality that there are no easy choices to alleviate the dual problem of a looming supply crunch and the associated higher prices.Australia is far from the first country to find itself with an energy issue, but it…
Oil, Gas Majors Join Blockchain Consortium
A group of seven major oil and gas companies, including ExxonMobil Corp., Chevron Corp. and ConocoPhillips, announced a partnership to establish the first industry blockchain consortium in the United States.With several use cases across the industry value chain, the consortium intends to conduct proofs of concept with this emerging technology in 2019…
OPITO Appoints Director to Support Global Operations
OPITO has appointed Stuart Clow as Director with a remit focused on supporting industry safety through high-quality training and competency standards.Clow has over 30 years’ experience in the oil and gas industry in a variety of roles both in the UK and internationally including Africa, South America and the Middle East.He spent 28 years with Transocean…
Neptune Renews IRM Contract with Sea Mar Shipping
Dutch offshore vessel operator Sea Mar Shipping has won a three-year plus 2 x one year options for its IRM (Inspection, Repair and Maintenance) vessel Sea Mar Splendid from Neptune Energy Netherlands.The vessel and crew will support Neptune Energy with its IRM campaigns on the Dutch Continental Shelf from March 2019 until 2021…
NOIA Statement on Trump’s SOTU Address
Increase Access to All Offshore Energy Sources for American Energy Greatness.National Ocean Industries Association (NOIA) President Randall Luthi issued this statement following President Trump’s State of the Union address:“In his second State of the Union address, President Trump reiterated his bold vision…
Proserv Acquires SGC Metering
The global energy services company has announced the acquisition of SGC Metering from Petrofac.SGC Metering is a specialist in the design and manufacture of flow computer metering systems for the oil and gas industry. It provides expertise right across the full life cycle of a metering project, including conceptual design through to installation…
New Managing Director at Magma Products
Oil and gas commissioning and start-up specialist Magma Products announced Tuesday it has appointed Philip Tweedy as managing director.Tweedy, previously commissioning manager at Magma, will be responsible for day-to-day operations at the company’s Aberdeen, Great Yarmouth and Bucharest offices.Previous…
ADNOC Seals $5.8 bln Refining and Trading Deal with ENI, OMV
Italy's Eni and Austria's OMV have agreed to pay a combined $5.8 billion to take a stake in Abu Dhabi National Oil Company's (ADNOC) refining business and establish a new trading operation owned by the three partners.The transaction, which expands ADNOC's access to European markets, furthers Eni's diversification…
Oil and Gas Execs Expect to Boost Spending
The majority of senior energy industry executives expect to maintain or increase spending this year to meet demand for oil and gas after years of austerity, a survey by DNV GL shows.DNV, a technical adviser to the energy industry, surveyed 791 senior professionals from firms with annual revenue ranging from $500 million or less to those earning $5 billion and more.BP…
