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Industry Moves Archive: Jul to Aug 2007

 Jan - Feb   Mar - Apr   May - Jun   Sep - Oct 
Centrica Acquires Further Norwegian Exploration Interests03/07/2007
Centrica plc's Norwegian subsidiary, Centrica Energi, has acquired further exploration interests in the Norwegian sector, building on its existing presence within the country. Centrica has agreed to acquire a 40 per cent interest in the Tommeltott prospect from Total's Norwegian subsidiary, Total E&P Norge AS.

BP and D1 Oils Form Joint Venture03/07/2007
BP and D1 Oils plc to form joint venture called D1-BP Fuel Crops Ltd to accelerate the planting of jatropha curcas - a drought resistant, inedible oilseed bearing tree which does not compete with food crops for good agricultural land or adversely impact the rainforest - in order to make more sustainable biodiesel feedstock available on a larger scale.

Gas Now Flowing from Shah Deniz Field to Turkey05/07/2007
Gas from Shah Deniz field in Azerbaijan is now flowing to Turkey for the first time. "This is a milestone for Statoil's international production, sale and marketing of gas from Azerbaijan," says Jan Heiberg, vice president for the group's gas operations in Azerbaijan. It is also a special day for Statoil as AGSC's operator in that all buyers of Shah Deniz gas are now taking gas," he says. BP operates the Shah Deniz field in the Azerbaijani sector of the Caspian Sea where Statoil has a 25.5% interest. Statoil is responsible for sale of phase one Shah Deniz gas, as operator for the AGSC.

BP Takes Delivery of World's Largest LNG Carrier09/07/2007
BP Shipping takes delivery of the British Emerald, the world's largest liquefied natural gas carrier (LNGC), the first in a series of dual-fuel diesel-electric gas ships. Built by Hyundai Heavy Industries in Ulsan, Korea, at 155,000 cubic metres she is the largest LNGC to date. The design and construction of this technologically advanced vessel is more fuel efficient than comparable LNG carriers, which will result in reduced fuel costs and greenhouse gas emissions. The dual-fuel technology allows the diesel engines to run on "boil-off" gases from the cargo tanks or on conventional diesel fuel. The vessel will burn 40 tonnes per day (tpd) less than a conventional LNGC of similar size which would burn about 180 tpd.

Acergy S.A. Order $180 million Diving Support Vessel09/07/2007
Acergy S.A. has signed an agreement with Havila Shipping for a new build diving support vessel for Northern Europe operations which will join the Acergy fleet in 2010. This new state-of-the-art vessel is specifically designed for efficient diving operations in the harshest environments. It will be 120 metres overall with a 23 metre beam and will be fitted with a 250 tonne crane and have accommodation for 120 people. The vessel will have high transit speed, an ice class hull, Class 3 dynamic positioning and be in compliance with the most demanding maritime and environmental regulations worldwide. The 24-man, twin bell saturation diving system will be certified for Norwegian regulations and will utilise the latest technology. The design will reflect Acergy's 30 years experience of diving operations in harsh environments.

Gazprom and Total Sign Framework Agreement for Cooperation in First Phase of Shtokman Development06/08/2007
Gazprom's acting Chief Executive Officer Alexander Ananenkov, General Director of OOO Sevmorneftegaz Yury Komarov, and Chief Executive Officer of Total Christophe de Margerie sign a Framework Agreement for Cooperation in the Development of the First Phase of the Shtokman Gas Condensate field. In accordance with the Agreement, the parties will set up a Special Purpose Vehicle (SPV) to organize the design, financing, construction and operation of the Shtokman phase one infrastructure. The SPV will own this infrastructure for 25 years from field commissioning.

AMEC Grows Environmental Business in Europe with Acquisition06/08/2007
AMEC further expands its environmental services capabilities in Europe with the acquisition AGRARO Consult, based in Bucharest, Romania. AGRARO provides environmental assessment, investigation, planning, engineering and monitoring services for clients in the public and private sectors. It has a strong roster of scientists and engineers and has particular experience in the mining and oil and gas sectors.

Venture Announces Strategic Investment06/08/2007
Venture Production plc, the Aberdeen based, UK independent oil and gas production company, announces that 3i Group plc and its affiliates ('3i') and ArcLight Capital Partners, LLC and its co-investors through an affiliate ('ArcLight') (3i and ArcLight together being 'the Investors') have agreed to make a significant strategic investment in Venture. In aggregate, 3i and ArcLight will, subject to Venture shareholder approval, make a total investment of over 200 million in Venture. Combined with their existing interests this new investment is intended to give each an approximate 9.9% stake in Venture on a fully diluted basis.

Talisman Energy Sells Non-Core North American Assets22/08/2007
Talisman Energy Inc. has entered into agreements to sell approximately 16,000 boe/d of non-core North American assets with proceeds of $815 million(1). The intention to sell these assets was announced in October 2006 as part of a program to focus on core growth properties and extract value from non-strategic assets. Of the 16,000 boe/d sold (net Talisman share) approximately 65% is natural gas and 1,300 bbls/d is conventional heavy oil. These are predominantly low working interest, non-operated assets, which include over 2,000 wellbores. Proved reserves associated with the assets were estimated by third party engineers at approximately 38 mmboe.

Royal Dutch Shell Signs LOI for Sale of Two French Refineries22/08/2007
As part of an ongoing strategy of portfolio management, Shell International Petroleum Company Limited (Shell) has signed a Letter of Intent with Petroplus Holdings AG relating to the possible sale of two of its French refineries. Shell and Petroplus will discuss detailed terms, including developing a processing arrangement for the production of speciality products such as lubricants, with a view to agreeing and concluding a potential sale during 2008.

AMEC and MMC Form New Malaysian Company27/08/2007
AMEC and MMC Oil & Gas, a leading Malaysian oil and gas engineering consultancy organisation, today announced the formation of a new private limited company named MMC AMEC Sdn. Bhd. MMC will hold 51% and AMEC 49% of shares in the new company. With its head office in Kuala Lumpur, Malaysia, MMC AMEC will operate in South East Asia, specialising in large-scale integrated deepwater facilities as well as internationally providing engineering and project management services for both the upstream and downstream sectors.

Hydro Acquires Interests in UK Heavy Oil Fields27/08/2007
Hydro reaches agreement with Chevron North Sea Ltd. to acquire their total interests in the Mariner and Bressay fields on the UK continental shelf. The acquisition contains 64.6 % in the Bressay field and some 45 % in the Mariner field, consisting of Mariner and Mariner East. The fields have been appraised by many wells, but there are still uncertainties related to the potential recoverable reserves. Discoveries of heavy oil in Quadrant 9, where the two fields are located, were made in the 1970s and 1980s.

Petrofac Exchanges North Sea Interests29/08/2007
Petrofac's Energy Developments division exchanges its 29% interest in UK North Sea Block 9/28a (containing the Crawford field) for an additional 3.11% of Block 211/18a (West Don area) with Valiant Petroleum. The operatorship of the Crawford field has been transferred from Petrofac to Fairfield Energy.

Total Sells Its Interest in Milford Haven Refinery03/09/2007
Total reaches agreement to sell its 70% interest in the Milford Haven refinery in Wales to its partner Murco Petroleum. Upon completion of the transaction, Murco will be the sole owner of the 5.3-million-ton-per-year facility and the sole employer of the refinery workforce. The transaction is expected to be finalised by the end of the year.

Gas Condensate Discovery West Of Shetland04/09/2007
Total announces significant new gas condensate discovery in block 205/5a in approximately 610 metres of water, some 100 kilometres North West of the Sullom Voe Terminal on the Shetland Islands. Total, with a 47.5% interest, is the operator of this block awarded end 2004, alongside partners Eni UK Limited (22.5%), DONG E&P (UK) Limited (20.0%) and Chevron North Sea Limited (10.0%).


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