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Monday, March 2, 2015

Subsea 7 awarded two-year extension to offshore UK contracts by Shell

Subsea 7 S.A. (Oslo Børs: SUBC: the Company) today announced it has been awarded a two-year extension to two Underwater Services Contracts (USCs) by Shell Upstream International Europe, worth approximately US$240 million. Under these Life of Field cont ...

Ophir Energy completes acquisition of Salamander Energy

Ophir Energy (LSE: OPHR) announces that the Scheme has now become effective and the entire issued ordinary share capital of Salamander is owned by Ophir. Scheme Shareholders on the register at the Scheme Record Time, being 6.00 p.m. on 27 February 2015 will r ...

The oil price collapse hits the MODU markets

We have now witnessed large cuts in E&P spending guiding for 2015, for both offshore developments and exploration activities. In floater demand, we have already seen the effects of these spending cuts - and we expect to see increasing effects for jack-ups. In ...

Pan Orient Energy fail to encounter hydrocarbons at L53-ANC1 exploration well

Pan Orient Energy Corp. (TSX VENTURE: POE) - The L53-ANC1 exploration well has been plugged and abandoned after failing to encounter commercial hydrocarbons. Oil shows and elevated mud gas readings were observed while drilling through three separate target sa ...


Oil price, Cairn, Afren, Petroceltic, VOG, Sundry-WoodMack-Salamander- And finally...

Oil price Friday saw further strength in the oil price on the last day of the month that was to prove one of the best in percentage terms for a long time. With WTI eventually putting in a 3% rise on the month and Brent an impressive 19.7% hike, things appear ...

Mosman Oil and Gas commences flow testing at Crossroads-1

The Directors of Mosman Oil and Gas Limited (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company is pleased to update shareholders in respect of the recent operational activity at Cross Roads-1. The Company advises that t ...

Resource accounts for the Norwegian continental shelf as of 31 December 2014

The Norwegian Petroleum Directorate's resource accounts estimate the total recoverable petroleum resources to be 14.1 billion standard cubic meters (Sm3) of oil equivalents (o.e.). This represents a slight decline from 2013. 6.4 billion Sm3, or 45% of the tot ...

Statoil signs Johan Sverdrup installation contract with Allseas

Statoil has signed a contract with Allseas for installation of three platform topsides on the Johan Sverdrup field. The vessel will be installing the topsides for the drilling, processing and living quarter platforms. Allseas will transfer the topsides to Pio ...

Ghana and Côte d'Ivoire maritime boundary arbitration update

Tullow Oil plc announces that it has been advised by the Government of Ghana that the Government of Côte d'Ivoire has applied for provisional measures to be ordered in Ghana's maritime boundary dispute with Côte d'Ivoire which is in arbitration bef ...

Petrodollars: Chinese investors second-guess Canadian projects

The trans-Pacific partnership of China and Canada promises to diversify product access for one of the biggest oil consumers in the world, but it also comes with problems, as Ashok Dutta explains in this week's Oilgram News column, Petrodollars.With customary d ...

€5.1 billion sale of RWE Dea completed

The LetterOne Group and RWE AG today completed RWE's sale of RWE Dea AG to LetterOne. In January, both parties had announced their plans to complete the transaction at the beginning of this month. The agreed enterprise value is approximately €5.1 billion ...

PetroMaroc announces resignation of a Director

PetroMaroc Corporation plc (TSX VENTURE:PMA) today announced the resignation of Yogeshwar Sharma from the board of directors of the Company effective immediately. Due to Mr. Sharma's continuing commitments and time constraints, he has concluded that he would n ...

Tethys Petroleum provides corporate update and announces Memorandum of Understanding with PetroChina

Tethys Petroleum Limited (TSX:TPL) (LSE:TPL) is pleased to announce that it has signed a Memorandum of Understanding with PetroChina International Kazakhstan Ltd and also provide a corporate update to our shareholders. Highlights: Updated vision and strategy ...

Expiry of Ukrainian gas sales restrictions; JKX Oil & Gas returns to full production

JKX announces that that it has received confirmation from the Ukrainian state gas distributor that 100% of its nominations for March delivery of gas to industrial customers have been accepted. The Company has now returned all wells in its Ukrainian fields to f ...
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