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Industry Moves Archive: April to May 2005

 Jan - Mar   Jun - Aug   Sep - Oct   Nov - Dec 
ChevronTexaco and Repsol Sign Letter of Intent01/04/2005
ChevronTexaco's affiliate company in Venezuela signs Letter of Intent with Spain's Repsol YPF to pursue with the government of Venezuela new joint development activities in Venezuela's prolific Orinoco Belt.

North Caspian Partners Purchase BG's 16.67% Interest01/04/2005
Eni, sole operator of the North Caspian Sea Production Sharing Agreement, has announced the enforcement, with ConocoPhillips, ExxonMobil, Shell and Total, of the purchase of the interest to be sold by BG (16.67%).

Clough AMEC Forge Links With Woodside Energy01/04/2005
Clough AMEC JV selected as preferred tenderer for Integrated Services Contract by Woodside Energy of Australia. Clough AMEC will now enter second stage of procurement process with Woodside, in order to formalise an agreement by September 2005. Subject to agreement, Clough AMEC JV will perform a three year contract commencing on 1 January 2006.

TransCanada Completes Acquisition of New England Hydro03/04/2005
TransCanada Corporation completes its acquisition of hydroelectric generation assets from USGen New England, Inc. for $505 million US in cash. The sale, previously announced in September 2004, received bankruptcy court approval and met other regulatory approvals and conditions.

ChevronTexaco Announces Agreement to Acquire Unocal04/04/2005
ChevronTexaco Corporation to acquire Unocal Corporation in a stock and cash transaction valued at approximately $18 billion, including net debt. ChevronTexaco production and proved reserves expected to increase by more than 15 percent

Greater Gorgon Participants Integrate Interests in Australian Project06/04/2005
ChevronTexaco Corp. reach Framework Agreement between its Australian affiliate and joint-venture participants to align their equity interests in giant gas resources of Greater Gorgon Area, offshore Western Australia.

Aker Kvaerner Host's Official Opening of Rotterdam Office06/04/2005
Rotterdam office of Aker Kvaerner's engineering services company in the Netherlands officially opened today. Established one year ago, the office is located in the Botlek industrial area, west of Rotterdam in the Europoort.

Venture Production's Saturn (Annabel) Gas Field On Stream07/04/2005
Venture Production plc, the Aberdeen based UK independent oil and gas production company, has announced the Saturn (Annabel) gas field came on stream on 3rd April 2005.

Vetco Gray to Expand Service Base in Angola07/04/2005
Vetco Gray are to expand their service base in Angola as part of their planned Angolan development. Due to the expansion there will be a requirement for additional personnel.

Statoil Extends Contract with Maritime Well Service08/04/2005
Statoil extends frame agreement with Aker Kvaerner for wireline services. The two year extension is the first of two options in the frame agreement contract.

AMEC Acquire Game Nucléaire SAS and Subsidiaries08/04/2005
AMEC acquires French nuclear engineering company Game Nucléaire SAS and subsidiaries for £14.3m. Game Nucléaire SAS employs 620 people and had a turnover of £32m in 2004.

Statoil Extend Smedivig Contract08/04/2005
Statoil to extend frame agreement with Smedvig for downhole services on the Norwegian continental shelf, covering the Sleipner fields, Veslefrikk, Troll Gas and Kvitebjørn in the North Sea, Åsgard and Kristin in the Norwegian Sea, as well as exploration drilling.

ChevronTexaco Establishes Research Alliance in Australia08/04/2005
ChevronTexaco establishes agreement between The Western Australian Energy Research Alliance (WAERA) and ChevronTexaco Australia Pty Ltd to undertake petroleum industry research, technology development, and education and training projects.

Forvie North Obtains Field Development Consent08/04/2005
Field development has been granted to Total by the UK Department of Trade & Industry for the Forvie North gas and condesate field, located some 440 kilometres northeast of Aberdeen in the northern North Sea Block 3/15.

Stolt Offshore Sells NAMEX Operation to Focus on SURF Segment12/04/2005
tolt Offshore to sell the Inspection, Maintenance and Repair (IMR) and Conventional assets that form part of its North America and Mexico (NAMEX) business to Cal Dive International, Inc.

Expro International Acquires DHV International15/04/2005
Expro acquire DHV International Inc., supplier of downhole video services to the oil and gas industry. Based in Oxnard, California but with global operations, DHV International provides a range of downhole video services through its Hawk-Eye III, Fibre-Optic and Slickline camera systems.

Wood Group Acquires Offshore Design Ltd19/04/2005
John Wood Group PLC subsidiary acquires ODL, a leading independent technical support, consulting services and procedural information specialist serving clients in the oil & gas industry around the world.

Venture Production's Gadwall Field On Stream20/04/2005
Aberdeen based UK independent oil and gas production company, Venture Production, announces production has successfully commenced from Gadwall oil field.

Shell and Bechtel Agree to Sale of InterGen20/04/2005
Shell Generating (Holding) B.V., a subsidiary of The Royal Dutch/Shell Group, and Bechtel Enterprises Energy B.V., a subsidiary of Bechtel Group, Inc., sign agreement to sell InterGen N.V. and 10 of its power plants to a partnership between AIG Highstar Capital II L.P. and Ontario Teachers' Pension Plan for $1.75 billion.

Shaw Expands Operations to Support Growing Energy Market22/04/2005
Shaw expands its Charlotte office to meet growing energy industry demands, especially the needs of power generating utilities. Shaw expects to hire 200 additional engineers by June 2005.

Fram Øst Plan Approved25/04/2005
Plan for Development and Production (PDO) of Fram Øst field in the North Sea was approved on Friday 22 April by the Norwegian government. Development to begin early June when two well templates are to be installed on the seabed.

Volve Development Approved25/04/2005
Plan for development and operation (PDO) of Statoil's Volve discovery in the North Sea was approved in the Norwegian Council of State on 22 April. Oil from this field is to be produced from the Mærsk Inspirer jack-up rig, with the Navion Saga tanker being used for storage.

Qatar Petroleum and ExxonMobil Acquire 90 Percent of Edison LNG03/05/2005
Major milestone agreements announced by Qatar Petroleum, ExxonMobil and Edison for the Isola di Porto Levante LNG terminal to be located offshore Italy in the North Adriatic Sea.

Edinburgh Oil & Gas plc Agree £132.8million Takeover06/05/2005
Edinburgh Oil & Gas plc agree £132.8 million offer from Oranje-Nassau Groep BV and Dyas. Edinburgh Oil's valued asset is the Buzzard oil and gas field in the central North Sea in which it holds a 5.2% stake.

ExxonMobil and Apache Expand Activities in Western Canada06/05/2005
Exxon Mobil Corporation and Apache Corporation sign agreement to expand their successful exploration and development activities in the Western Canadian province of Alberta.

Statoil Reduce Serious Gas Leaks on NCS Installations09/05/2005
Total number of serious gas leaks from Statoil-operated installations on the Norwegian continental shelf (NCS) more than halved from 2002 to 2004.

Supply Boat Hits Hydro Operated Grane Platform09/05/2005
Supply boat grazes Grane platform in the North Sea at 4:30 a.m. on Friday. No one hurt as a result of the incident. Incident occurred during a routine operation, while the boat moored alongside the platform to load and unload equipment and supplies.

CNOOC Considering Counter-Offer for Unocal09/05/2005
China National Offshore Oil Corporation (CNOOC) to discuss possibility of making counter-offer to ChevronTexaco's bid for Unocal of $16bn.

Duke Energy and Cinergy Agree to Merge09/05/2005
Cinergy and Duke Energy announce they have entered into a definitive merger agreement to create an energy company with approximately $36 billion in market capitalization. Combined company to be named Duke Energy Corporation.

ChevronTexaco Corporation Changes Name and Visual Identity10/05/2005
In a move to present a clear, strong and unified presence in the global marketplace, ChevronTexaco Corporation changes its name to Chevron Corporation, unveiling new visual identity.

EnCana Sell Conventional Oil and Gas Assets to StarPoint Energy12/05/2005
EnCana Corporation reaches agreement to sell conventional oil and gas assets to StarPoint Energy Trust for approximately C$404 million (US$326 million) before adjustments. Transaction includes properties in central and southern Alberta.

Venture Acquire CNS Oil Development Assets from Amerada Hess12/05/2005
Venture enters into agreement to acquire package of development assets from Amerada Hess Limited. The package, which is strongly weighted towards oil, comprises operated and non-operated interests in eight undeveloped discoveries located in the Central North Sea, together with an interest in an Inner Moray Firth discovery close to existing infrastructure.

Fluor to Relocate Corporate Headquarters13/05/2005
Fluor Corporation to relocate its corporate headquarters from Southern California to the Dallas/Ft. Worth metropolitan area. Final decision on location within the Dallas/Ft. Worth metropolitan area to be made in the next few weeks.

EPCOR Acquires TransCanada's Interest in TransCanada Power18/05/2005
EPCOR Utilities Inc. and TransCanada Corporation enter into an agreement whereby EPCOR will acquire TransCanada's interest in TransCanada Power, L.P. for $529 million. Transaction has been approved by the Boards of each of TransCanada, EPCOR and the Partnership, and is expected to close in the third quarter of 2005, subject to regulatory approvals.

BP Accepts Responsibility for Texas City Explosion18/05/2005
Series of failures by BP personnel before and during the startup of the Isomerization (ISOM) process unit in the Texas City refinery led to an explosion and fire which claimed the lives of 15 workers and injured more than 170 people, according to BP Products North America's interim fatal accident investigation report made public yesterday.

Centrica Sells British Gas Connections20/05/2005
Centrica plc agrees to sell British Gas Connections Limited (BGCL), its licensed gas transporter business, to Kellen Venture Limited for a consideration of £90 million. Kellen Venture Limited is a new company owned by Terra Firma (75 per cent), and East Surrey Holdings plc (25 per cent).

BP and NOVA Chemicals Sign NOVA Innovene Joint Venture20/05/2005
BP and NOVA Chemicals Corporation sign binding agreements to merge their European styrenic polymers businesses into a 50:50 JV to be named NOVA Innovene after its shareholders NOVA Chemicals and Innovene, BP's newly-formed olefins and derivatives business.

Hydro Opens New Aluminium Precision Tubing Plant in China25/05/2005
Hydro opens new aluminium precision tubing plant in Suzhou Industrial Park in the Jiangsu province of China. Plant currently has 63 employees and is to grow to 140 as first phase of plant reaches full capacity later this year.

CNOOC Review Plans for Unocal Bid27/05/2005
Independent advisers hired by non-executive directors at China National Offshore Oil Corporation to review management's plans for possible bid for Unocal.

Air Products Form JV with Changzhou Shangfeng Chemical Co27/05/2005
Air Products forms joint venture named Air Products Shanfeng with leading Chinese chemicals supplier, Changzhou Shangfeng Chemical Industry Co. Ltd. (CZSF), to produce triethylenediamine (TEDA) for the fast growing polyurethane (PU) market in China.

EnCana Closes Sale of Gulf of Mexico Assets to Statoil27/05/2005
EnCana closes previously announced sale of its Gulf of Mexico assets to Statoil for approximately US$2 billion.

Burlington Resources Confirms Minimal Hurricane Damage07/09/2005
Burlington Resources says its facilities in South Louisiana had sustained little apparent damage due to Hurricane Katrina's passage through the area. Net production shut in as a result of the storm currently totals approximately 60 million cubic feet of natural gas equivalent per day (MMcfed), or about 2 percent of the company's total production.


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