Ithaca Energy Inc. announces the execution of a farm-out transaction with Shell UK Limited in respect of the UK exploration assets acquired pursuant to the acquisition of Valiant Petroleum plc (“Valiant”), completed on 19 April 2013 (the “Acquisition”). Since the announcement of the Acquisition, the Company has reduced its net exploration expenditure commitments by over [...]
Polarcus Limited announced yesterday that the Company has entered into a research collaboration project with Cambridge Carbon Capture Ltd (CCC) in the United Kingdom to develop carbon mineralization technology. Such technology could potentially be used to reduce CO2 emissions from ships, including emissions from Polarcus’ fleet of 3D seismic vessels. As part of the agreement [...]
![China: Penglai 19-3 Shutdown to Reduce CNOOC’s Net Production by 40.000 bopd]()
China National Offshore Oil Corp. (CNOOC) said Sunday that suspension of entire production at the PL19-3 oil field will further reduce the… Source: Xinhua Source:Xinhua News Agency, September 4, 2011;
![Roc Oil Agrees to Reduce Interest in Block H, Offshore Equatorial Guniea]()
Roc Oil Company, a wholly owned subsidiary of ROC, has agreed to farm down its interest in Block H, offshore Equatorial Guinea, to White Rose Energy Ventures Limited, a portfolio company of First Reserve Corporation, from 37.5% to 20.0% for a free carry through the drilling of an exploration well. ROC will also receive an [...]
![PSA Norway Calls Industry to Reduce the Number of Hydrocarbon Leaks]()
The Petroleum Safety Authority Norway (PSA) has asked the industry to propose specific measures for reducing the number of hydrocarbon leaks and well control incidents on the Norwegian continental shelf. A very positive trend in the number of hydrocarbon leaks larger than 0.1 kilograms per second was experienced off Norway from 2002 to 2007. The [...]
![GASTECH 2011: RTI Shows Ways to Reduce CO2 Emissions and Costs with Effective Insulation (The Netherlands)]()
Rockwool Technical Insulation demonstrates how efficient insulation reduces energy costs and delivers a smaller carbon footprint at the 25th Gastech Conference and Exhibition in Amsterdam from 21-24 March 2011. Energy consumption of industrial plants can be reduced significantly by adequate insulation. This delivers two main advantages, as within the framework of the EU Emission [...]
![USA: Salazar Announces Regulations to Strengthen Drilling Safety, Reduce Risk of Human Error on Offshore Oil and Gas Operations]()
The Department of the Interior announced two new rules that will help improve drilling safety by strengthening requirements for safety equipment, well control systems, and blowout prevention practices on offshore oil and gas operations, and improve workplace safety by reducing the risk of human error. “These new rules and the aggressive reform agenda we have [...]
