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Industry Moves Archive: March to April 2007

 Jan - Feb   May - Jun   Jul - Aug   Sep - Oct 
 
 
Petronas Sign Gas Sales Agreements01/03/2007
PETRONAS signs two gas sales agreements (GSA) with Murphy Oil and PETRONAS Carigali Sdn Bhd for supply of gas from fields in Blocks SK309 and SK311, and from Kikeh field, offshore Sarawak and Sabah respectively.


Hydro Involved in Major New Libyan Oil Discovery01/03/2007
Significant oil discovery made in Murzuq Basin in Libya. The field extends over two licences, and Hydro participates in one of these. The Spanish oil company Repsol is operator for the field. The field was proved in the autumn of 2005, and subsequently five appraisal wells have been drilled.


TNK-BP to Start Exploration Near Caspian Sea Shelf02/03/2007
Russian-British company TNK-BP to start prospecting and exploration of acquired areas in immediate vicinity of the Caspian Sea shelf in 2007. Robert Dudley, President and CEO of TNK-BP, said to the oil news agency Interfax-ANI that last year the company got hold of 23 licenses for development and exploration of fields mainly in the regions of its current industrial activities.


Aker Kvaerner Optimizes Its Operations06/03/2007
Aker Kvaerner optimises its operations by transforming its existing six business areas into five global business areas. By combining those specialised units which work within the same market segments better, the change results in increased capacity and a stronger offer of services and solutions to all market segments.


Establishment of Aker Oilfield Services07/03/2007
Aker, Aker Kværner, Aker Yards and DOF Subsea establish Aker Oilfield Services Ltd. Initial ownership will be 75 per cent to the Aker companies, through the recently established Aker Innovation entity, and 25 per cent to DOF Subsea. Aker Oilfield Services established to target growing market for increased oil recovery services for subsea wells. The company will offer its customers subsea light well intervention services by means of both riserless and riser-based subsea well intervention systems.


BP to Purchase Chevron's Manufacturing Business in the Netherlands09/03/2007
Aker, Aker Kværner, Aker Yards and DOF Subsea establish Aker Oilfield Services Ltd. Initial ownership will be 75 per cent to the Aker companies, through the recently established Aker Innovation entity, and 25 per cent to DOF Subsea. Aker Oilfield Services established to target growing market for increased oil recovery services for subsea wells. The company will offer its customers subsea light well intervention services by means of both riserless and riser-based subsea well intervention systems.


Merged Company to be Established Under the Name StatoilHydro12/03/2007
The Board of Directors of Hydro and Statoil agree to recommend to their respective shareholders that the company to be established through the merger between Hydro's oil and gas activities and Statoil will be named StatoilHydro. The 18 December 2006 integration agreement between the boards stated that the company would be given a new name at the time of establishment, but the boards now have concluded that it is appropriate to leave it up to the new company's Board of Directors to develop a new name. Up to that point, the company's name will be StatoilHydro.


Mott MacDonald Signs Agreement to Acquire ARCADIS Euroconsult13/03/2007
Mott MacDonald signs agreement with ARCADIS to acquire its environmental consultant Euroconsult and management consultancy arm BMB in a move that strengthens Mott MacDonald's service offering in international development. The deal will be finalised later in March. Euroconsult works primarily in developing countries and economies in transition covering three core areas - land and water, rural development and ecology. BMB is a management consultancy specialising in institutional development and capacity building for the public, private and social sectors.


Emission Cuts Create Opportunities for Statoil14/03/2007
The European Union's goal of reducing greenhouse gas emissions gives Statoil new and important market opportunities up to 2020. On Friday 9 March, EU member states and heads of government approved a European energy policy that addresses global climate challenges. They agreed to reduce greenhouse gas emissions by at least 20% by 2020. The target will be reached by an increased focus on renewables, bio-fuels and carbon management.


StatoilHydro Merger Plan Signed16/03/2007
The boards of directors of Statoil and Hydro sign final plan for demerger of Hydro as part of merger between Hydro's petroleum division and Statoil ASA. Hydro's shareholders will own 32.7% and Statoil's shareholders will own 67.3% of the merged company. As recompense for the transfer of Hydro's petroleum division, Hydro's shareholders will receive a 0.8622 share in the merged company for every share they own in Hydro.


Marine Bill White Paper – Offshore Oil and Gas Industry Response19/03/2007
The UK Offshore Operators Association (UKOOA), the representative body for offshore oil and gas producers, welcomes the underlying principles of the Marine Bill White Paper, in particular the commitment to secure the right balance between environmental, social and economic objectives. UKOOA states it also supports, in principle, the concept of a new UK-wide system of marine planning as a means of providing greater certainty to business planning.


SNC Lavalin Acquires Spanish Engineering Firm INGESGRUP S.A.19/03/2007
SNC-Lavalin acquires INGESGRUP S.A. and its subsidiaries, which includes INTECSA-INARSA, a Spanish engineering group recognized for its strong record of infrastructure in mass transit, water engineering, ports and marine facilities, tunnels and bridges and, the industrial sector, with its expertise in the construction of gas compression stations. With its head office in Madrid and five other offices throughout Spain, INTECSA-INARSA has increased the number of SNC-Lavalin employees in Europe by 500.


Petrofac Opens New Premises in Great Yarmouth20/03/2007
Petrofac opens new premises in Great Yarmouth to service the increasing demand for its oil & gas facilities management services. Based at the Gapton Hall Industrial Estate in Great Yarmouth, the new premises can accommodate 40 staff and provide intervention support capabilities for unmanned and manned operations in the Southern North Sea. Petrofac is a key employer in the east of England and is keen to further develop opportunities for local employees, as the company continues to invest and recruit in the region.


B&W and AEP to Demonstrate New Clean Coal Technology for Capture of CO2 Emissions22/03/2007
McDermott International, Inc's subsidiary, The Babcock & Wilcox Company ("B&&W"), and American Electric Power ("AEP") plan to pursue commercial viability of new combustion technology to reduce carbon dioxide ("CO2") and other emissions from coal-fired power plants. Under the terms of a memorandum of understanding ("MOU") agreement, the companies will assess the application of oxy-coal combustion as a retrofit to an existing AEP plant, and work toward the development of the first oxy-coal commercial validation project in the United States.


Alve Receives Ministerial Approval22/03/2007
Plan for development and operation (PDO) of Alve gas and condensate field in Norwegian Sea given ministerial approval on 16 March. For the first time, Statoil submitted a simplified PDO. This is cost-saving and more effective for both the operator and the government. "We appreciate the government's swift action," says Øyvind Bratsberg, senior vice president for the Halten/Nordland area. "It's been only two months since we submitted the PDO."


Treasury Accused of Turning Blind Eye to UK Oil and Gas22/03/2007
Responding to today's Budget statement, the UK Offshore Operators Association (UKOOA), accused the Treasury of turning a blind eye to the urgent needs of the UK's offshore oil and gas industry where production is being undermined by high costs and punitive tax. Malcolm Webb, UKOOA's chief executive, said: "The Treasury clearly recognises that lower taxes are good for business, but unfortunately fails to apply that principle to our industry.


Atkins Acquire Defence Consultancy22/03/2007
WS Atkins plc acquires Advantage Business Group Limited (Advantage), an independent defence consultancy, for a consideration of £19.4 million, of which £15.25 million has been paid in cash and £4.15 million through the issue of loan notes, £1.7 million of which are redeemable after 18 months and £2.45 million after three years. Advantage has particular expertise in through-life capability management, complementing Atkins' existing skills in defence systems engineering. Atkins will integrate Advantage into its Design & Engineering Solutions business.


Halliburton Opens Corporate Headquarters in UAE23/03/2007
Halliburton Company has announced at a regional energy conference in the Kingdom of Bahrain the opening of a corporate headquarters office in the United Arab Emirates. Halliburton Chairman, President and Chief Executive Officer Dave Lesar will move to Dubai to lead the company's efforts in growing Halliburton's business in the Eastern Hemisphere, an important market for the global oil and gas industry.


Jacobs Signs Letter of Intent to Acquire Edwards and Kelcey26/03/2007
Jacobs Engineering Group Inc. sign letter of intent to acquire Edwards and Kelcey, a 1,000-person firm headquartered in Morristown, N.J., U.S.A. Founded in 1946, Edwards and Kelcey is a nationally recognized engineering, design, planning, and construction management firm serving public and private clients in the fields of transportation, planning/environmental, communications technology, buildings/facilities, and land development. The company has 25 regional offices and is ranked 71st among the Top 500 U.S. Design Firms by Engineering News-Record (ENR).


Fluor Forms New Business Line to Focus on Nuclear New Build Power Market26/03/2007
Fluor Corporation announces formation of dedicated business line within its Power Group to address next generation nuclear power market. Fluor has prepared for this emerging market through the combined talent, activities and resources in both its Government and Power Groups. The nuclear business line will be headquartered in Fluor's Greenville, S.C. office.


BP Speech by Vivienne Cox
The Business Case for Low Carbon Power - An International Perspective
27/03/2007
On 19 March 2007, Vivienne Cox, BP's Executive Vice President and CEO of Gas, Power & Renewables and Shipping gave a speech entitled "The Business Case for Low Carbon Power - An International Perspective". Her speech was given at the Energy Institute, New Delhi, India and discussed what BP is doing around the world, focussing in particular on BP Alternative Energy and the generation of power from low carbon sources such as solar, wind, gas and hydrogen.


3i Completes US$250m Lead Investment in Delta Hydrocarbons27/03/2007
3i commits $250m to Delta Hydrocarbons as part of its US$1 billion fundraising. Delta is an innovative venture dedicated to capitalise on current industry dynamics in the international upstream oil and gas (E&P) business. 3i is investing alongside Dyas BV, a subsidiary of SHV Holdings NV, and Upstream Capital Partners, an affiliate of Mercuria Energy Group, who are each committing $250m.


Eni and Gazprom Discuss Strategic Partnership Agreement28/03/2007
Gazprom CEO Alexey Miller met 26 March in Moscow with Eni CEO Paolo Scaroni. The companies discuss the implementation of their strategic partnership agreement signed last November. Alexey Miller and Paolo Scaroni went through the progress made to date on the Strategic Parnership Agreement.


Total Launches Development of Jura Field28/03/2007
Total announces development of Jura gas and condensate field has been launched, just four months after it was discovered. The Jura discovery represents more than 170 million barrels of oil equivalent of proved and probable reserves and is located in the Alwyn Area (100% owned and operated by Total) in the UK sector of the North Sea, 160 kilometres east of the Shetland Islands and 440 kilometres northeast of Aberdeen.


Corporate Assembly Recommends Hydro Split29/03/2007
Hydro's Corporate Assembly recommended today the company's General Assembly to approve the plan to demerge Norsk Hydro ASA as part of the merger of Hydro's petroleum activities with Statoil. The Corporate Assembly referred to the Board of Directors' report about the merger and adopted its assessment.


E.ON UK Completes Contracts for Construction of CHP Stations29/03/2007
E.ON UK signs deal with National Grid's Grain LNG terminal that will make its £500m 1,275MW new power station into one of the world's largest combined heat and power (CHP) plants. The company also announced that the new Grain power station will be built under a turnkey contract by Alstom.


Aker Kvaerner Under Police Investigation in Moscow02/04/2007
Russian police visit Aker Kvaerner Engineering & Technology representation office in Moscow to inquire about a complaint from a former Russian business partner regarding Aker Kvaerner Engineering & Technology's acquisition of 56 percent ownership in Astrakhan Korabel. The inquiry concerns Aker Kvaerner Engineering & Technology's acquisition of shares from the Finnish company RR Offshore Oy.


AMEC Grows Environmental Business with Acquisition03/04/2007
AMEC strengthens its environmental services capability with the acquisition of UK-based Applied Environmental Research Centre (AERC) which generated revenues of £2.3 million in the year ended 31 December 2006. Its net assets were £0.6 million as at 31 December 2006. AERC is a specialist consultancy employing 45 scientists and engineers, based in Colchester, Essex. It provides a wide range of services across the environmental sciences, engineering and planning, including environmental monitoring and measurement.


Eni Signs MoU with Sonangol for Angola LNG Stake03/04/2007
Eni and Sonangol execute Memorandum of Understanding for acquisition by Eni Angola Exploration B.V. (a 100% affiliate of Eni) of a 13.6% stake in Angola LNG Limited Consortium (A-LNG). This company is responsible for the construction of an LNG plant in Soyo, 300 km north Luanda, with a yearly capacity of 5 million tons.


TNK-BP Plans to Invest c. $400 Million in Ukrainian Business Development by 201105/04/2007
Russian-British company TNK-BP plans to invest about $ 400 million in its operational and marketing assets development in Ukraine during the period of 20072010. This information was provided to the Interfax-Ukraine agency by TNK-BP Executive Director German Khan.


Halliburton Completes Work in Iran16/04/2007
Halliburton's announces that all contractual commitments in Iran now completed and the company is no longer working in Iran. The winding down of Halliburton's work came as the result of a decision announced in January 2005 that only contractual commitments existing at that time would be honoured, and that no new work would be accepted going forward.


AMEC Divests Dynamic Structures Business20/04/2007
AMEC plc completes sale of its Canadian-based specialty steel design and fabrication business, AMEC Dynamic Structures Ltd, to Empire Industries Ltd for an undisclosed sum. This furthers AMEC's strategy, announced in December 2006, of focusing on its core businesses in the Energy and Process sectors and divesting its Built Environment and other non-core specialist businesses.


Gazprom Enters Sakhalin II Project20/04/2007
Shareholders of Sakhalin Energy Investment Company Ltd. (Sakhalin Energy), operator of Sakhalin II project, sign Sale and Purchase Agreement with OAO Gazprom (Gazprom) to trigger transfer of shares in Sakhalin Energy. This transaction implements a protocol signed on December 21, 2006 in Moscow. Under its terms Gazprom acquires a 50% plus one share stake in Sakhalin Energy for $7.45 billion in cash. The other three shareholders, Royal Dutch Shell plc (Shell), Mitsui & Co. Ltd (Mitsui) and Mitsubishi Corporation (Mitsubishi), each dilute their stakes by 50%, to receive a proportionate share of the purchase price.


Halliburton Enters into Agreement to Acquire PSL Energy Services26/04/2007
Halliburton enters into definitive agreement with the shareholders of PSL Energy Services Limited (PSLES) to purchase the entire share capital of the company. This agreement is subject to receipt of necessary regulatory approvals. Founded in 2003, PSLES is a leading eastern hemisphere provider of process, pipeline and well intervention services, including flange management and bolting, leak testing, pre-commissioning services, hydrotesting, hydraulic workover, coiled tubing, slickline and wireline, and pumping services.


Aker Kvaerner and Praj JV for European Bio-fuels Market26/04/2007
Praj Industries Ltd. and Aker Kvaerner, today announced a significant step in the expansion of their association, confirming that they are to create a joint venture (JV), for the European market. Aker Kvaerner has approved the implementation of the JV, and this consent joins the Praj Industries' Board approval (announced by Praj on 19 April 2007) wherein Praj will hold a 60 per cent share of the JV and Aker Kvaerner will hold 40 per cent. The JV will combine Aker Kvaerner's execution capabilities and extensive European market knowledge with the technological expertise of Praj.


Rosneft and Shell Agreed on Strategic Cooperation30/07/2007
Rosneft Open Joint Stock Company (Rosneft) and Royal Dutch Shell plc (Shell) conclude Agreement on Strategic Cooperation. The agreement was signed in Moscow by Rosneft President Sergey Bogdanchikov and Shell Chief Executive Jeroen van der Veer. The Agreement provides the opportunity for joint implementation of upstream and downstream oil and gas projects. It sets the basic principles of strategic cooperation between the two major international energy companies and lays the foundation for a long-term cooperation between Shell and Rosneft both in Russia and elsewhere.


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