Drilling & production

Joint Industry Project led by DNV has developed a new framework for developing floating structures which can operate in icy conditions.

Vale’s board of directors has approved a US$ 16.3 billion investment budget for project execution, sustaining existing operations and R&D.

Anglo American has brought together leaders from more than 60 of its contracting companies to jointly plan how to improve the health and welfare of contract workers at its operations.

Despite the financial and sovereign debt crisis, German mining equipment manufacturers have posted a record sales growth of 27% for 2011. The German Engineering Federation (VDMA) expects turnover to grow by a further 20% to € 5.8 billion in 2012.

The Mexican national oil company, Pemex, has announced the discovery of a light crude deposit in the southern Mexican state of Tabasco.

Europe’s largest oil services company has revealed that it has received US$ 800 million worth of new contracts in Mexico and Australia.

ONGC Videsh has revealed that it has agreed to spend US$ 5 billion on acquiring ConocoPhillips’ stake in the Kashagan project offshore Kazakhstan.

Malaysia’s national oil and gas company, Petronas has announced that it has made two gas discoveries offshore Malaysia’s Sarawak state.

The world’s largest dredging company has made a bid for Dockwise with a 61% premium.

The Linde Group has been commissioned by Norwegian-based Skangass AS to build a mid-scale LNG import terminal with a capacity of 30,000 m3 on the west coast of Sweden.

ANH, the regulating body of the Colombian hydrocarbon industry, has awarded 49 blocks in the country’s latest E&P round.

The European Commission has approved the merger between Xstrata and Glencore International.

South Sudan’s President, Salva Kiir, has stated that the resumption of oil production from the country has been delayed by new demands made by Sudan.

The Russian government has awarded two further offshore Arctic licences to Rosneft.

Lundin Petroleum has announced that it has struck approximately 60 m of gas pay offshore Malaysia.