US court revives ExxonMobil Aceh suitA US appeals court has revived a lawsuit against ExxonMobil by Indonesian villagers who accused the oil giant's security forces of committing murder, torture and other atrocities in the country's Aceh province. In a 2-1 ruling, the D.C. Circuit Court of Appeals said companies are not immune from liability under a 1789 US law known as the Alien Tort Statute for "heinous conduct" allegedly committed by its agents in violation of human rights norms.
BP looks to limit Macondo claimsBP wants to limit future claims related to the Macondo disaster as the US Gulf Coast region's economy recovers, the oil company said in a document made public today. The Gulf of Mexico economy is strong and "there is no basis to assume that claimants, with very limited exceptions, will incur a future loss related to the oil spill", BP said in a paper filed with the Gulf Coast Claims Facility (GCCF). Oystermen, whose beds have been destroyed by crude, should be considered for future payments, the UK supermajor said, according to a Reuters report.
Shell nears $12bn Iraq gas dealAnglo-Dutch supermajor Shell and Iraq have settled most pending legal issues that have delayed a $12 billion gas deal for more than two years and an initial pact could be signed as early as next week, a senior Iraqi oil official said today. Since the signing of an initial agreement in 2008 to begin negotiations on the project, the Iraqi oil ministry has been working to finalise a joint venture between its South Gas, Shell and Japan's Mitsubishi to capture and exploit the huge volumes of gas flared from three giant southern oil fields, Rumaila, Zubair and West Qurna Phase 1.
Total wants to replace Chevron in Black Sea
French oil giant Total has offered to replace Chevron as a partner to Russia's oil giant Rosneft in an offshore oil project on the Black Sea, Rosneft's head said today. "Total has made an offer (to replace Chevron) and we will decide on our partners by the end of the year," Eduard Khudainatov told journalists on the sidelines of an industry meeting at the Kirishi refinery near Saint Petersburg, Reuters reported.
US report details vast shale wealthUS report details vast shale wealth The mainland US holds enough oil trapped in shale rock reserves to meet its import needs for seven years, according to a new government report that puts a figure on the fastest-growing source of new crude. About 24 billion barrels of "technically recoverable" oil is trapped in the Lower 48 states, it said, more than half of that in a California basin that has thus far been less successful than booming frontiers in North Dakota and Texas
Transocean evacuates semi-sub off GhanaAll 108 nonessential personnel on a Transocean semi-submersible rig stationed in deep water off Ghana were evacuated after water was seen on board. The Transocean Marianas, operated by Italy�s Eni, was not drilling and was preparing to move at the time the ingress was noticed aboard the rig, Transocean spokesman Guy Cantwell told Upstream. �All 108 nonessential staff have been evacuated as a precaution as per company policy,� Cantwell said, adding that 13 essential staff remained on board. "The rig is stable at this time. There were no injuries,� Cantwell said. The rig is understood to be partially moored.
Kosmos mulls Transocean rig ditchA delayed Transocean rig arrival following an �anchor-handling incident� off West Africa has forced Kosmos Energy to throw up a force majeure notice. The US independent is now considering dropping the rig owner's unit as it hunts around for other available hardware to drill an exploration well off Ghana. The deep-water drilling rig Transocean Marianas was due to arrive at Kosmos' Cedrela-1 well on or around 10 July to begin drilling. However, NYSE-listed Kosmos said this will now not happen as the rig has been "rendered temporarily inoperable" following what it termed "a reported anchor-handling incident" on the Three Points Block nearby
Libya 'looking to replace Eni'Libya has turned to �big� Russian and Chinese firms to fill the void in the country�s oil industry left by Italian major Eni�s withdrawal, a report claims. The beleaguered North African country�s official government has already begun speaking with unidentified companies about taking over Eni�s portfolio in the country, according to a Reuters report. Eni was once the largest international oil firms operating in the Libya but pulled the plug on its operations there once the Arab Spring swept the country in February
Premier pens North Sea farm-inUK independent Premier Oil is farming-in to a prospect in the Central North Sea to the tune of 50%. The company has penned a heads of agreement with Canada�s Antrim Energy over the Erne prospect in the Greater Fyne Area, the latter wrote in a bourse announcement today. Premier will take a half share in Licence P1875 �by funding a promoted share of the costs to drill a well on the Erne Prospect on Block 21/29d�, Antrim wrote.
Statoil probes Njord gas leakStatoil has launched a probe into another gas leak at its Njord A platform that triggered the alarm and led to a temporary production halt at the field. The latest gas leak follows a similar incident that resulted in a shutdown of the field in April, the second stoppage in the same month after an earlier riser issue was detected. Gas escaped during a cabling operation on a well at the platform as two valves incorrectly remained open instead of closed, the operator stated in a report on the 30 June incident to Norway�s Petroleum Safety Authority.
Tanzania kick-off for PetrobrasPetrobras aims to launch its first exploration foray off Tanzania in September as recent finds have fuelled interest among oil majors in the East African country�s largely unexplored offshore play. The Brazilian state-owned company, which holds a production sharing agreement for blocks 5 and 6 in the country�s deep offshore basin, plans to deploy its newbuild drillship Ocean Poseidon for the upcoming exploration campaign. The Dryships vessel, built at Samsung Heavy Industries in South Korea and reportedly due to be launched tomorrow, will be bound for the port of Mtwara in south-east Tanzania after leaving the yard.
Shell's Ningaloo plan approved
Australia�s Federal Environment Department has approved a Shell plan to drill for gas 50 kilometres west of the Ningaloo Marine Park, with a series of conditions to protect whales. In an announcement released today, Shell said it welcomed the decision. �The proposed Palta-1 exploration well is targeting gas and would be around 70 kilometres from the Ningaloo Reef and 50 kilometres from the boundary of the Ningaloo Marine Park and World Heritage Area,� the company said. �We will continue to work with regulators and other stakeholders to demonstrate how we intend to operate this well safely and without any environmental impacts on the Ningaloo region.�
GE gets Chevron Big Foot leg-upUS supermajor Chevron has tried compatriot GE Oil & Gas on for size for a �milestone� service contract for an upcoming deep-water play in the Gulf of Mexico. GE is to provide tension leg platform (TLP) marine riser systems for the Big Foot oil and gas field in a deal worth $45 million. The systems are set to be the industry�s largest and are to operate in unprecedented water depths, GE wrote in an announcement today. �GE is making key design modifications to develop �push-up� style marine riser tensioner equipment to enable the Chevron Big Foot oil and gas field TLP to deal with the challenging wave and current movement conditions of deepwater applications,� the statement read.
UK offers tax sweetener The UK government has introduced measures to increase tax support for oil companies operating marginal oilfields in the North Sea following controversial increases earlier this year.The move follows talks with industry initiated after Chancellor of the Exchequer George Osborne�s decision in March to increase the tax burden on operators to fund a cut in fuel duty for motorists. The government said earlier today it would increase the annual rate of the Ring Fence Expenditure Supplement (RFES) from 6% to 10%.
Maersk orders new drillship double Danish contractor Maersk Drilling has exercised options to build two additional ultra-deepwater drillships at South Korean yard Samsung Heavy Industries. The new turnkey contracts, worth a combined $1.3 billion, bring to four the number of drillships the company has on order at the yard after it ordered two similar newbuild units in April. Maersk has also gained a new option for the construction of two additional drillships, marking a major push by the company in the ultra-deepwater drilling segment
Argos lines up new Falklands targets AIM-listed explorer Argos Resources has identified promising prospects on its licence in the vicinity of the Sea Lion discovery off the Falkland Islands. Fast-track processing and interpretation of recently acquired 3D seismic on Argos� wholly-owned licence PL001 in the North Falkland basin has shed new light on the area�s prospectivity, the company said in a statement
PTTEP makes Oz FLNG filingThailand�s PTTEP has set itself a target of the end of next year to decide on a huge floating liquefied natural gas project off Australia. The company could begin front-end engineering and design work on the proposed project in the Timor Sea at the end of this year, according to a filing with Australia�s Environment Department today. PTTEP could then decide in the fourth quarter of 2012 whether or not to press ahead with the project 680 kilometres off Darwin, Dow Jones reported
Statoil 'back to UK work'Statoil said today it would resume preparatory work on North Sea oilfields after the UK announced additional support measures for companes that operate on small fields. Statoil had suspended $10 billion worth of projects off Britain after UK Chancellor George Osborne announced a surprise increase in tax on North Sea oil producers earlier this year.
Det Norske sells North Sea slice Norwegian independent Det Norske Oljeselskap has sold a 15% stake in North Sea production licence 450 to compatriot North Energy. The licence is located in Block 7/12 and lies south-west of the Ula field on the southern Norwegian Continental Shelf. Det Norske has already contracted the semi-submersible Maersk Guardian to spud to the Storebjorn prospect on the licence during the fourth quarter of the year.
Petrobras workers to stage protest Oil workers at Brazilian state-controlled energy giant Petrobras will stage on-site protests from tomorrow to demand a larger share of profits, the main oil workers' union said.FUP, a federation uniting a number of oil worker unions, is protesting over Petrobras's offer of a 12% increase in profit share for oil workers despite its profits having grown 17% last year to 35.2 billion reais ($22.7 billion).
Oil workers have lifted a blockade that halted a crude storage plant in southern Argentina but operations are not expected to resume until later this week. Much of the crude produced in Argentina's Santa Cruz province is stored at the Las Heras dehydration plant, which has been paralyzed for weeks due to protests by striking teachers and then energy industry workers. "(The blockade) was lifted at midnight on Sunday. They promised to meet a string of demands we made," Reuters quoted Fabian Zuniga, a union leader representing the oil workers, as saying. The picket at the Las Heras plant, which is operated by Argentina's biggest energy company YPF, affected production at fields in the area as they exhausted in-house storage limits.
Bangladesh talks Sinopec start Bangladesh is in talks with China�s Sinopec over plans to start exploration in four structures in the Chittagong Hill Tracts (CHT) to augment the nation�s meagre gas supply, according to reports. The Financial Express reported the State-run Bangladesh Petroleum Exploration and Production Company (BAPEX) had asked about Sinopec�s readiness to explore the Kotia, Joldi, Kafalong and BallS**tapara structures in onshore block 22.
Songa wins Statoil cat D contractNorway�s Songa Offshore will build two category D semi-submersible rigs for Statoil in a deal valued at $2.47 billion, the companies have announced. The rigs will be built at Daewoo Shipbuilding & Marine Engineering�s yards in South Korea, with Aker Solutions to supply the drilling equipment to the yards. At least nine contractors were known to have prepared proposals for the project, widely viewed to be a risky one due to the unique challenges semisubs would face in Norwegian waters, with oil and gas fields lying mostly in mid-water range.
Poland rigs loan for shale gasPolish natural gas monopoly PGNiG has reportedly secured a state credit line of �15 million ($21.75 million) to acquire a drilling unit as a bottleneck of rigs is hindering its efforts to pursue the country�s shale gas potential.
Cougar faces Kingaroy charges The Queensland government has laid charges against Melbourne-based Cougar Energy for allegedly breaching conditions of its environmental authority at its underground coal gasification trial near Kingaroy.Queensland�s Department of Environment & Resource Management (DERM) said Cougar had been charged with three counts of breaching conditions of its environmental authority which related to the rupture of a gas extraction well. DERM alleged Cougar failed to properly install the gas extraction well to the standards necessary to comply with its environmental authority
Egypt-Israel pipeline sabotaged Saboteurs have blown up a pipeline carrying gas from Egypt to Israel and Jordan, forcing a shutdown in the flow of gas, Egyptian security sources have said. The explosion took place in the early morning at a station along the pipeline in the northern Sinai Peninsula at Bir Abd, 60 kilometres east of the Suez Canal, the sources told Reuters. It was the third attack since early February on the pipeline, which supplies natural gas to Israel and Jordan, local cement plants and a power station.
Yemen pipeline explodesArmed Yemeni tribesmen blew up an empty oil pipeline in Yemen's oil-producing Maarib province last week, officials have said, in a blow to the impoverished Arab nation's bid to get the key industry back up and running. The lack of flow from the main pipeline had forced Yemen's 150,000 barrels per day Aden refinery to halt operations � a financial blow to the Arab world's poorest country. The refinery restarted two weeks ago when Saudi-donated crude arrived in the port.
ConocoPhillips gets Poseidon approval
US supermajor ConocoPhillips has received environmental approval to commence drilling on three blocks in the Browse basin, off Western Australia.Joint-venture partner Karoon Gas Australia said it had received the required approvals from the Australian government to start the five-to-eight well Greater Poseidon drilling campaign. At least four wells are planned for the WA-315-P and WA-398-P permits which contain the Poseidon and Kronos gas discoveries. One well is also planned for the WA-314-P permit
Sting cancels over oil worker dispute British singer Sting has cancelled a concert in the Kazakh capital Astana scheduled for today after human rights group Amnesty International informed the former Police frontman about what it described as a "crackdown" on oil workers there. Several thousand workers at UzenMunaiGas, a unit of London-listed oil producer KazMunaiGaz Exploration Production, went on strike on 26 May, saying their salaries had been cut and their lawyer imprisoned on false charges. The company has called the strike illegal and a spokesman said last week that around 250 employees had been fired for breaching their contract terms.
Seadrill steady after AOD rig deal Shares in Norwegian rig owner Seadrill remained steady today despite the company taking two jack-up newbuildings under its wing after a share acquisition.The Oslo-listed company issued a statement late on Friday, though not to the bourse, that is had spent $54 million to acquire a 33.75% slice in Asia Offshore Drilling. On Monday AOD revealed that it had firmed up an order for a jack-up drilling rig at Keppel Corporation for $148 million leaving a second option on the table. Seadrill�s announcement, issued through its website, revealed it is to �be responsible for the construction supervision, project management, and commercial management of all of [AOD]�s drilling's jack-up rigs�.
Aker bags drillship risers Norwegian engineering contractor Aker Solutions has secured a $50 million contract to supply a deep-water drilling riser system for a drillship being built at a South Korean shipyard. The 10,000-foot riser package is for an Atwood Oceanics newbuild currently under construction at Daewoo Shipbuilding & Marine Engineering and includes an option for another two units. Though the newbuild was not identified by Aker, it is apparently Houston-based drilling contractor Atwood's ultra-deepwater drillship Atwood Advantage, expected to cost $600 million and slated for delivery in the fourth quarter of 2013.
Keppel secures third jackup order from Asia Offshore Drilling at US$184 million Keppel Offshore & Marine�s new orders for the year-to-date reaches S$7.4 billion Keppel FELS Limited's ("Keppel FELS") repeat customer, Asia Offshore Drilling Limited ("AOD") has exercised its first of two options to build a KFELS B Class jackup rig worth US$184 million. The effectiveness of this first option is subject to AOD or its wholly owned subsidiary entering into a construction contract with Keppel FELS and fulfilling certain conditions precedent.
EPA sets Shell Alaska emissions task Shell has been dealt stricter draft permits by the US Environmental Protection Agency for its large-scale drilling plans off Alaska.The green regime has slashed the amount of air pollutants allowable from the supermajor at its Beaufort and Chukchi plays by 50% from the original set of permits. Anglo-Dutch outfit must obtain permits from US authorities as it proposed drilling activities off Alaska �would emit more than 250 tonnes of air pollutants a year�, the EPA wrote in a statement today.
Gaddafi threatens Europe �catastrophe�Oil markets will be braced for reaction to a reported threat from Libyan leader, Muammar Gaddafi, to unleash a �catastrophe� in Europe in the face of continued NATO bombing, reports claim. The embattled dictator of the oil-rich nation threatened that forces loyal to him would swarm Europe �like locusts� if the pounding of his country by coalition forces did not cease. Gaddafi delivered an audio message to crowds gathered in Tripoli today, warning European leaders that Libya �can decide to treat you in a similar way
OGX makes Santos Basin findBrazilian oil outfit OGX has struck hydrocarbons at a prospect well in the shallow waters of the Santos Basin. The company said today it has encountered a 131-metre column of hydrocarbons in sandstone reservoirs of the 1-OGX-47-RJS well. The well, also called Maceio and situated in the BM-S-59 block, has yielded 51 metres of net pay, according to the announcement from the company. OGX has drilled the well, which it operates 100% and is situated around 110 kilometres off Rio de Janeiro state in just 185 metres of water, with the Ocean Quest rig.
ExxonMobil fined 'up to $1.5bn'ExxonMobil is staring at a $1.5 billion fine for an underground gas leak in the US over five years ago, according to a report. The supermajor is to be hit with $1 billion in punitive damages arising from the one-month-long spill in Jacksonville in 2006, according to a report in The Baltimore Sun newspaper. This figure, if true, would come on top of the $495 million in fines slapped on the US energy giant yesterday for the leak at a gasoline station. The newspaper cites an unidentified person who it claims has seen the verdict reached by a Baltimore Country jury but only released in part yesterday.
BP revives Plutonio off Angola BP is slowing getting production back to normal at a huge asset off Angola after re-starting operations following prolonged maintenance, a report claims. The British supermajor has turned the taps on again at the Greater Plutonio oilfield, according to a Reuters report.
Statoil stalls in oil sands case Statoil has secured a second postponement in a controversial court case in Alberta that has turned the spotlight on its environmental track record in the oil sands. The Norwegian state oil company faces 19 charges filed by Alberta Environment of violating the Canadian province�s Water Act and could face a maximum fine of C$11 million ($11.4 million) if found guilty. However, the case was adjourned until 17 August at a hearing in Edmonton yesterday at which Statoil, represented only by a lawyer, was due to enter its plea following a similar postponement in April.
Iran threatens Indian oil axe Iran has threatened a crude oil blockade on India if a bill of some $2 billion is not sorted out quickly.The Middle Eastern country also wants a proper future system of payment for oil exported to India before it drops the threat which is set to kick in next month, reports claim. The National Iranian Oil Company has allegedly written to Indian refineries making the threat of turning off the crude oil tap if back payments are not made, Reuters and others reported
Police 'raid' in Reliance probe Indian federal police reportedly searched the house of a former upstream regulator today as they initiated a probe following a report that costs may have been inflated for some of Reliance Industries' exploration activities. The Comptroller and Auditor General (CAG) said the issue related to the development of Reliance's D6 block in the Krishna Godavari basin, which holds India's largest gas field, causing unquantified losses to the government, Reuters reported.
ConocoPhillips China leak cleanedAn oil leak which from the ConocoPhillips-operated Penglai 19-3 oilfield in China's Bohai Sea has been largely cleaned up, Reuters reported.The Southern Weekend newspaper reported yesterday that the incident started around 10 June, with oil spilling from two points including one from Platform B, one of Penglai's five production platforms. An oil slick three kilometres long and 20 to 30 metres wide was found floating near the field, but it was soon cleaned up, the newspaper said, adding that the cause of the spill was being investigated. Calls and e-mails to CNOOC Ltd's investment relations department went unanswered and ConocoPhillips's Beijing media officials were also not immediately available for comment when contacted by Reuters.
Petrofac expands floater fleet UK services company Petrofac has paid US$70 million for two floating production, storage and offloading vessels in the Asia-Pacific that it wants to offer as fast-track development solutions for oil and gas field owners. Petrofac said it has bought the Cossack Pioneer FPSO and the Jasmine Venture FPSO. The former was owned by the Woodside-led North West Shelf Venture and was most recently located on the Cossack-Wanaea oilfields off Western Australia, while the latter was owned by Pearl Energy and is currently used on the Jasmine field in the Gulf of Thailand.
Noble�s Homer gets work in Israel US offshore services giant Noble has won a rig contract from Canadian minnow GeoGlobal for its drilling unit Noble Homer Ferrington.Financial details of the deal for the semi-submersible to drill at a pair of licences off Israel have, however, not been disclosed. NYSE-listed is yet to announce the deal but Calgary-based GeoGlobal released the information to the junior New York Anex bourse today.
Beach spuds Arno-1 Australia-listed Beach Energy has spudded the Arno-1 exploration well in PEL 91 in South Australia�s onshore Cooper basin Western Flank oil fairway. The well will be drilled to a total depth of 1960 metres, targeting mean prospective resource potential of 790,000 barrels of oil in the Namur sandstone and 280,000 barrels in the Intra-Birkhead sandstones.
Gulf spill claims taking too long The fund BP set up to deal with compensation claims after last year's Gulf of Mexico oil spill is working too slowly, according to US Attorney General Eric Holder. The fund is not sufficiently transparent and requires too much documentation from claimants, Reuters quoted Holder as saying after a visit to Orange Beach and Dauphin Island, both of which sustained oil damage during the three-month spill that began last April.
New York 'may lift fracking ban' New York state is reported to be looking at partially lifting its current moratorium on hydraulic fracturing, the controversial method used to extract gas from shale formations.The administration of Governor Andrew Cuomo may maintain the ban inside New York�s upstate watershed, as well as a watershed used by the city of Syracuse, while opening up for fracking in other parts of the state, the New York Times reported, citing people briefed on the administration�s discussions
ExxonMobil slammed with $495m fine A Baltimore County jury has ordered US supermajor ExxonMobil to pay over $495 million for a damages caused by an underground gas leak in 2006. The money will compensate a group of Jacksonville families and businesses for claims of lost property value, emotional distress and medical monitoring needed as a result of the leak of 26,000 gallons of gasoline
Seven in bed on North Sea block party A whole host of oil and gas players are joining together to amalgamate a pair of blocks in the North Sea. Maersk Oil UK, DEO Petroleum and EnCore Oil make up some of the names involved in the UK Continental Shelf tie-up which involves a set of share-swapping deals.
Canada seeks deep-water bids An exploration licence for an area which �could have significant oil potential� is up for grabs off Canada as a bidding process is kicked off. Only players with recent deep-water drilling experience need apply to the Nova Scotia Offshore Petroleum Board for the gig, however.
TNK-BP eyes fresh $1bn loan
BP�s joint venture in Russia is to tap financial institutions later this year for a loan of $1 billion, reports indicate. TNK-BP will not, however, hit the bond market for the fresh funds, according to chief financial officer, Jonathan Muir. "It is unlikely to be bonded, it is more likely to be bank debt," Reuters quoted Muir as saying during a news conference after the company's annual shareholder meeting today
Cameron makes water treatment splash US equipment player Cameron Process Systems has snapped up a small Norwegian technology outfit but details of the deal are being kept under wraps. The Houston-based giant has taken TS Technology as it looks to cement a foothold in the water treatment sector of the oil and gas industry.
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