IPB Petroleum Limited “IPB” announces that the Commonwealth-Western Australia-Offshore Petroleum Joint Authority granted to IPM West Pty Ltd (a wholly owned subsidiary of IPB Petroleum Limited) a 100% interest in Petroleum Exploration Permit WA-485-P for a period of 6 years, commencing 14 May 2013. Rationale WA-485-P adds to IPB’s growing strategic position, now totaling around [...]
May 21, 2013 | Posted in
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Australia’s Woodside today reported a record full-year profit after tax of $2,983 million, up 98% (2011: $1,507 million) An underlying net profit after tax of $2,061 million was achieved (up 25% compared to previous year), excluding non-recurring items. These results were underpinned by a 31% increase in production and an associated 30% increase in sales [...]
Terra Nova FPSO vessel operating offshore Newfoundland and Labrador is in the final stages of commissioning in preparation for start-up following planned maintenance, Suncor today announced. The FPSO is expected to return to full production rates around the end of December. Suncor Energy operates the Terra Nova field, which is located approximately 350 kilometres southeast [...]
Kvaerner, a specialised engineering, procurement and construction company providing services to the oil & gas industry, reported operating revenues of NOK 3 004 million in the fourth quarter 2011. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 249 million, resulting in an EBITDA margin of 8.3 percent. The Board of Directors proposes a [...]
Valiant Petroleum plc announces that its full year production for 2011 is projected at around 7,500 barrels of oil per day (“bopd”), in line with guidance maintained throughout the year. The Dons Area work programme for 2012 is currently being finalised with the operator and includes a new production well in Don Southwest, a new [...]
December 14, 2011 | Posted in
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![Total’s Offshore Libyan Facilities at Full Production]()
Total SA, Europe’s third-biggest oil company, said its Libyan offshore facilities are back to full production and onshore operations will r… By Mike Cohen (Businessweek) Source: Businessweek, November 4, 2011
![IRF Summit Stavanger: BOP Reliability and Well Control Need Full Review]()
The integrity and operational problems of blowout preventers (BOPs) will be followed up by the Petroleum Safety Authority Norway (PSA) through its membership of the International Regulators’ Forum (IRF). The present status of the industry’s work on well control issues was presented at the IRF’s offshore safety summit in Stavanger today. One session of this [...]
![China: BZ 28-2S Oil Fields Back in Production, CNOOC Says]()
CNOOC Limited (the “Company”) announced today that, BoZhong 28-2 South (“BZ 28-2S”) oilfields which suspended operation in this April due to a malfunction occurred on the Single Point Mooring System, has restarted production. Currently the operation in BZ 28-2S oilfields is running smoothly. The production capacity of the oil fields has recovered to the level [...]
July 25, 2011 | Posted in
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![UK: Buzzard Platform to Return to Full Production in July, Nexen Says]()
Nexen Inc. advises that it has finalized plans to upgrade the cooling system and return to full production at its Buzzard platform in the North Sea. The cooling medium is expected to be replaced by the end of May. During this period production will be limited to about 80,000 boe/d (gross). Nexen expects increase production [...]
![Vietnam Approves Full Development Plan for Te Giac Trang Field]()
The Company has been informed by the Hoang Long Joint Operating Company, the Operator of Block 16-1 in the Cuu Long Basin offshore Vietnam, that PetroVietnam has relayed the Government of Vietnam’s agreement to the extension period for the Te Giac Den Appraisal area. The extension period is for 15 months (from 1st January [...]
