BP has reached agreement with Anadarko Petroleum Company to settle all claims between the companies related to the Deepwater Horizon accident. Anadarko, which had a 25% interest in the Macondo well, and BP have concluded that entering into a settlement is in the best interest of the parties to resolve pending disputes.
The 38 in. gas pipeline that links the block 18 gas field to the Balhaf terminal on the Gulf of Aden was sabotaged in Yemen on October 15th. The explosion occurred at in a desert region 75 km north of the Balhaf terminal.
Leighton Offshore has been awarded a US$ 518 million contract which forms part of the Crude Oil Export Facility Reconstruction Project (the ‘Sea Line Project’), which is financed and supported through the Japanese Official Development Assistance (ODA) Loan by Japan International Cooperation Agency (JICA).