Americas

Americas

Baron Oil makes unexpected discovery in Peru

23/10/2014

South American focused Baron Oil has won approval from state-owned Perupetro to convert its third work phase from seismic into a drilling obligation after additional hydrocarbon discoveries. The Peruvian oil and gas provider also approved the company’s Force Majeure (FM) clause, which will be invoked on Block Z-34 in the country.

Americas

Companies strike merger deal

23/10/2014

Donnycreek Energy has entered into an arm’s length agreement with Contact Exploration to merge and create a new corporation. The two companies will become Kicking Horse Energy and the merger will consolidate the interests of Donnycreek in Alberta, Canada.

Americas

BP ‘cut corners in building pipeline’

15/10/2014

BP chose to “cut corners” when an oil pipeline was built across land belonging to Colombian farmers, then put up “a smokescreen of obfuscation" when things went wrong, a QC has said in the High Court.

Americas

Venezuela ordered to pay $1.6billion to Exxon

10/10/2014

A World Bank tribunal has ordered Venezuela to pay oil giant ExxonMobil about $1.6billion to compensate for oil nationalisation. Venezuela said it would pay the award, but only after deducting a previous Exxon award from the International Chamber of Commerce (ICC) of $908million.

Americas

Halliburton strikes deal with Ecuadorian state-run oil company

09/10/2014

Energy giant Halliburton has signed a long-term contract with Ecuador’s state-run oil company Petroamazonas to provide field development and project management across nine mature fields. The contracts, for fields including the Palo Azul, Lago Agrio, and Victor Hugo Ruales, are 15 years long with the potential for a further five-year extension.

Americas

Shale boom tested as sub-$90 oil threatens US drillers

08/10/2014

The U.S. shale boom is producing record amounts of new oil as demand weakens, pushing prices down toward levels that threaten to reduce future drilling. Domestic fields will add an unprecedented 1.1 million barrels a day of output this year and another 963,000 in 2015, raising production to the most since 1970, according to the U.S. Energy Information Administration. The Energy Department’s statistical arm forecasts consumption will shrink 0.2 percent to 18.9 million barrels a day this year, the lowest since 2012.

Americas

US gas boom turns global as LNG exports to shake up market

01/10/2014

The US natural gas boom is poised to go global as the government approves projects that will export the fuel to buyers from Tokyo to New Delhi. Dominion Resources Inc.’s Cove Point terminal in Maryland won authorization Sept. 29 from the US Federal Energy Regulatory Commission to ship liquefied natural gas around the world. It’s the fourth export project to win permission and the first outside the Gulf of Mexico. Construction will cost between $3.4billion and $3.8billion, Dominion said yesterday.

Americas

Ocean Installer wins $50million Brazil contract

29/09/2014

A subsea company with extensive operations in the North Sea basin has been awarded a contract in Brazil worth $50million. Ocean Installer will provide SURF (subsea, umbilical, risers and flowlines) support work in Brazil for Saipem. The contract will see the Normand Clipper – one of the company's three long-term chartered support vessels (CSV ) - used in the South American country for eight months, with options to extend.

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