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Upcoming Projects: Statoil To Develop Norwegian Oil Field With First Phase Investment of $19.6bn

 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).


Upcoming Projects: BP Announces Significant Discovery in the Deepwater Gulf of Mexico

 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.


Upcoming Projects: Bechtel And Subsea 7 to Pursue Offshore Wind And Transmission Projects

 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. 



Upcoming Projects: Pacific Fibre Launched - 13,000km cable network from New Zealand

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.


Upcoming Projects: SubSea Resources PLC - Update - Search and Recovery Programme for 2006

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:


Upcoming Projects: Update On Portland Gas Plans Lifts Value Of Aim-Listed Oil Minnow

A Small British energy company saw its shares soar yesterday after it gave an update on plans for a major gas-storage facility which could potentially be worth hundreds of millions of pounds.

Egdon Resources wants to store gas for other companies in salt caverns more than 6,000ft below the ground on the Isle of Portland in Dorset. Initial feasibility work has been completed and a planning application is expected to be made next summer.


Upcoming Projects: Petrofac Hatches Innovative Production Solution

International energy contractor Petrofac is to use what it describes as "an innovative mobile offshore production unit (MOPU)" for opening up the Cendor offshore field, 140km off the east coast of Malaysia.

The MOPU will be a converted Bethlehem mat-type jack-up drilling rig with production and water-injection facilities installed.


Upcoming Projects: Hydro, partners win approval for Vilje plans

Hydro, Marathon Oil and Total E&P have had their Vilje tieback plan approved by the Norwegian Oil and Energy Ministry, it was learned Monday.

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.



Upcoming Projects: BP Submits Draft Plans To Abandon Oil Platform

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.


Upcoming Projects: PetroReal Oil Corporation: Drilling Campaign in the Gulf of Thailand

International PetroReal Oil Corporation (the "Company") is pleased to announce that the drilling campaign in Thailand is to commence on or about March 1, 2005 and that it has amended the Share Sale and Purchase Agreement with Dormley Pty. Ltd. to effect an additional 4% ownership in the capital of Black Swan Petroleum Pte. Ltd. ("BSP") in consideration of the issuance of an additional 100,000 common shares of the Company, such additional consideration being agreed upon by both the Company and Dormley Pty. Ltd.

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.

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