Drilling & production

A new IEA energy report has predicted that natural gas use will see huge growth over the coming years buoyed up by demand in China and Asia, even though European demand is likely to decrease.

GE Oil & Gas has won the contract to supply turbocompression technology for the Petronas LNG Train 9 project.

The Technip-Daewoo Consortium (TDC), has been awarded the services contract for engineering, procurement, construction, installation and commissioning for an FLNG facility with a 1.2 million tpy capacity by Petronas Floating LNG 1 (Labuan) Ltd.

DNV are conducting a risk study for Gasnor and Brunsbuttel port who are considering building LNG bunkering facilities.

Reliance Power, Kakinda seaports and Shell have formed a joint venture to build an LNG terminal on India’s east coast.

The second day of the fourth Iraqi licensing round has been met with a lukewarm response as only two more blocks have been awarded. The winners of the two new blocks are a group led by Lukoil and Pakistan Petroleum.

The Danish government has stuck to its forecast of an 8% decline in oil production for 2012.

Spanish company Repsol’s imminent departure from operations in Cuba is, according to analysts, a potentially “irrecoverable” blow to the communist Caribbean island’s dreams of oil riches.

Solid Energy is refocusing its coal seam gas development work to Taranaki after successfully proving the technology in New Zealand conditions at its Huntly coal seam gas demonstration plant in the Waikato.

BP has awarded Emerson a multi-million dollar contract to provide automation technology for its North Sea oil production operations.

Spanish company Repsol has announced that it is to abandon operations offshore Cuba after a test well came up dry.

Xstrata Coal has resumed operations at its Blakefield South mine, and expects to return to full production by mid-July.

Russian oil company Bashneft posted increased profits for Q1 of this year, citing higher output and improved sales.

A group led by Kuwait Energy has won Block 9 in Iraq’s latest oil and gas bidding round. Tougher contracts could be scaring off investors.

The price of Brent crude has fallen again, risking its biggest monthly drop in two years. Disappointing news from China and fears about the Spanish banking system has, at least temporarily, eroded gains made as a result of the Iranian nuclear question.