An offshore union has branded the fine imposed on Total yesterday a "wholly inadequate slap on the wrist".
Oil & Gas
Aberdeen firm RS Occupational Health (RSOH) has smashed its own job creation expectations at a fledgling remote care medical centre in the city.
Royal Dutch Shell Plc is on the brink of pulling off its biggest acquisition. Yet the widening discount of target BG Group Plc to the offer price shows that a further steep drop in oil prices could still put the deal in doubt.
In the shadow of Brazil’s once-mighty oil giant, another state-run behemoth is trying to get ahead of the nation’s biggest-ever corruption scandal to avoid the fallout that has already crippled more than a dozen companies. A team of lawyers and specialists hired by Centrais Eletricas Brasileiras SA, known as Eletrobras, started reviewing Latin America’s biggest electric utility in June to determine whether it has had any losses from graft, according to a regulatory filing. Since then, the internal probe has swelled to involve more than 100 investigators, $15 billion of investments, 10 subsidiaries and three of Brazil’s biggest power projects, said a person with direct knowledge of the matter.
Oil firm Total has been fined £1,125,000 for breaching offshore regulations which led to a major gas leak on one of its North Sea installations.
Lundin Petroleum said it has made an oil discovery in the Norwegian Continental Shelf (NCS) after completing the Rolvsnes exploration well. The well, located in PL338C, is south of the Edvard Greig field in the central North Sea.
Oil firm Total has admitted breaching offshore regulations which led to a major gas leak on one of its North Sea installations. In March 2012, all 238 workers on board the Elgin platform had to be evacuated as gas started spewing out of the G4 well at the rate of two tonnes an hour. At one point, about seven million cubic feet of gas was leaking from the platform every day.
A joint venture between Socar and Cape has been awarded a two year extension contract worth $90million by oil major BP for the provision of fabric maintenance services for its assets in Azerbaijan. The work will include both its onshore and offshore assets in the region.
Petrobras has terminated two contracts for two vessels from Solstad Offshore. The contracts for the Normand Trym and Normand Vibran had originally been valid until the thid quarter of 2017.
Fugro has completed work on the burial of export cables at the Gemini offshore wind park, off the Netherlands coast.
Sparrows Group has been awarded a contract from Oceaneering International to design and manufacture two 500-tonne powered and jack-able under rollers. The under-rollers will be delivered to Oceaneering in Panama City where Sparrows Group will perform the assembly and site acceptance testing.
A product line owned by Forum Energy Technologies has won a string of new multi-million dollar contracts in just one month. AMC Engineering has been given multiple orders for the manufacture and supply of its fully rotational torque bucking unit, scheduled for delivery next year. The units have been bought by a number of multinational oil companies in the Middle East, South America and Caspian regions.
Nostra Terra today confirmed a three-year extension for its $25million credit facility.
Independent Oil and Gas (IOG) converted its bid for the North Sea's Skipper licence to 100% ownership.
Chevron agreed a LNG deal with China Huadian Green Energy.
Falling oil prices took a large bite out of profits and turnover at Global Energy Group during the year to March 31, the energy service firm said yesterday.
Royal Dutch Shell Plc is on the brink of pulling off its biggest acquisition. Yet the widening discount of target BG Group Plc to the offer price shows that a further steep drop in oil prices could still put the deal in doubt. BG traded 12.5 percent below Shell’s bid price on Dec. 18, the biggest discount since early September, compared with a 6.4 percent gap on Dec. 4. While BG shares soared when news of the deal broke eight months ago, they’ve since tumbled more than 20 percent as oil prices slumped.
Enerplus said it has completed the sale of a number of non-operated interests in North Dakota.
A consortium has been awarded a new contract for the engineering, procurement, construction and installation of a major subsea field infrastructure for ONGC.
Statoil and its partners are to spend more time on improving the concept for the start-up of the second phase of the Johan Sverdrup field. The company said the planned production timing is still planned for 2022.
The Norwegian Petroleum Directorate (NPD) has granted a drilling permit to Total E&P Norge for the drilling of a wildcat well. The company plan for the well to be drilled using the Maersk Gallant drilling facility in production licence 618.
GeoPark has struck an oil sales deal with Trafigura worth $100million. The funding agreement will see GeoPark sell and deliver to Trafigura a portion of its Colombian crude oil production.
Transerv said sustained gas flow and a continuous gas flare have been achieved from the Warro-6 well in Western Australia during the initial clean-up phase of the well. The company said the flow rate has yet to be measured but the early stage result is considered to be a significant development in its strategy to establish Warro as a major economic gas project. Warro is Australia’s largest undeveloped gas field with resources of 11.6trillion cubic feet of gas in place.
African Petroleum has signed a new production sharing contract with Ophir Energy covering the company’s CI-513 licence area in Cote d’Ivoire. The new contract means Ophir Energy has a 45% interest and is operator of the asset while African Petroleum holds a 45% interest and the regions National Oil company the remaining 10%. Ophir Energy will make a $16.9million contribution towards African Petroleum’s back costs in relation to the block.
As global oil prices tumble, Saudi officials are considering plans to sell shares in state-owned entities and companies, according to two people with knowledge of the discussions, in an attempt to find alternative sources of revenue. The government may sell stakes in ports, railways, utilities and airports, the two people said. Hospitals may also be privatized, one person said. Saudi officials weren’t immediately available for comment. With oil prices down to an 11-year low, Saudi officials are accelerating efforts to reduce the economy’s reliance on revenue from crude exports. They may have missed their best chance when prices were higher, according to economists and an International Monetary Fund study that highlighted how successful attempts depended on policies put in place before the slump.