PetroChina will take ten percent stakes in two of Abu Dhabi National Oil Company’s offshore concessions under a 40-year agreement signed on the 21st March. PetroChina paid a participation fee of 2.1 billion dirhams (US$575 million) for the Umm Shaif and Nasr concession and a fee…
Statoil has permission from Norway’s Petroleum Safety Authority to use the Aasta Hansteen spar platform, subsea systems, and infield pipelines in the northern Norwegian Sea, 300 kilometres (186 miles) from the Nordland county coast. Water depth in the area is 1,270 metres (4,166 feet)….
A group led by ConocoPhillips has received regulatory approval from Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for its proposal to develop the Barossa gas-condensate field in retention lease NT/RL5 in the eastern Timor Sea 300 kilometres north of Darwin. NOPSEMA…
AM Best affirms ratings of Malaysia’s national oil company’s captive Ratings agency AM Best has affirmed the Financial Strength Rating of A (Excellent) of Energas Insurance, the sole captive insurer of Petroliam Nasional Berhad, Malaysia’s national oil and gas company. The outlook of the ratings…
Vattenfall has announced that it has been awarded the permit for the Hollandse Kust Zuid offshore wind farm. In December, Vattenfall submitted a bid for this first non-subsidised wind farm in the Netherlands. Vattenfall plans to continue developing the wind farm of 700 –…
Angela Merkel’s government is seeking to build a liquefied natural gas industry in Germany basically from scratch to reduce the nation’s dependence on supplies arriving by pipeline from Russia and Norway. With gas reservoirs depleting from the UK to the Netherlands, Germany is becoming…
A battle for big data is brewing in the oil patch. The service companies which map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never before realised could be valuable. But…
China National Offshore Oil Corporation (CNOOC) has begun production from the Weizhou 6-13 oil field offshore China. CNOOC said on the 20th March that production from the field began ahead of schedule. Weizhou 6-13 is an independent oil field in which the company…
The UK oil and gas sector is expected see between 12 and 16 oil and gas developments get the go-ahead this year – unlocking investment of around £5 billion, (almost US$7 billion). This is according to the Business Outlook released on the 20th March…
Perenco begins FLNG operations offshore Cameroon Perenco has begun production at Cameroon LNG via Golar LNG Ltd’s floating LNG (FLNG) production unit Hilli Episeyo. FLNG Hilli Episeyo arrived in Cameroon in late November 2017. A ship-to-ship transfer of cool down LNG with the Golar…
