Statoil and the partners in the Johan Sverdrup oil field have decided on a concept for development of the field off Norway, for which investment in the first phase is estimated at up to NOK120bn ($19.6bn).
Discovery at Gila prospect is latest discovery in the Paleogene, highlighting BP’s exploration momentum and commitment to US Gulf of Mexico.
BP announced it has made a significant oil discovery at its Gila prospect, which it co-owns with ConocoPhillips, in the deepwater US Gulf of Mexico. This is BP’s third discovery in recent years in the emerging Paleogene trend in the Gulf of Mexico and reflects the company’s ongoing commitment to the US offshore region.
Two Trusted Global Industry Leaders Bring Unparalleled Expertise to European Markets
Bechtel andannounced today that they will work together to develop offshore wind and associated transmission projects in Europe, including the UK and Germany. The non-exclusive joint approach provides customers with Bechtel’s unmatched experience designing and building some of the world’s most complex projects and Subsea 7’s global expertise in seabed-to-surface engineering and construction. Together they provide developers and utilities a single contracting group to take responsibility for the delivery of their projects.
Aim is unlimited high speed broadband for New Zealand and Australia
Pacific Fibre, an early stage international fibre venture founded by a group including New Zealand businessmen Stephen Tindall, Sam Morgan and Rod Drury, announced its plans today, aiming to break the digital divide between New Zealand, Australia and the rest of the world.
SubSea Resources PLC (AIM: SUB) is pleased to provide details of the Company's search and recovery programme for its vessel John Lethbridge going forward to March 2007.
The Company is also pleased to announce a number of new targets recently developed from the Company's extensive research archive.
[The Company will provide an update on progress in its large scale salvage operations in due course]
Key features of the amended programme include:
The North Sea field's sub-sea array will send its oil to the floating production, storage and offloading Alvheim FPSO 19 kilometres to the southwest.
Alvheim and Vilje will switch on in February 2007, with the latter supplying 52.2 million barrels of oil and 400 million standard cubic feet of gas for up to 17 years.
Partners wills pend some $327 million on the project, beginning with the drilling of production wells in February 2006.
Oil giant BP is getting closer to the final decommissioning of the North West Hutton platform in the northern North Sea.
The installation, which produced its first oil in 1983, was shut down at the end of 2002. Since then, BP has spent £90million on abandoning the wells and cleaning up the topsides.
As announced in the Company's news release of January 4, 2005, effective December 1, 2004 the Company acquired a 36% shareholding in the capital of BSP in consideration of the issuance of 2,300,000 common shares of the Company. The amended Share Sale and Purchase Agreement will result in the Company holding a 40% ownership in the capital of BSP and is subject to regulatory approval. BSP holds a 100% interest in the exploration concession B7/38, offshore Thailand.