Drilling & production

Justin Lewis, chairman of Beacon Hill Resources plc, provides an update on its projects.

ABB has won an order worth US$ 18 million from Daewoo to supply energy efficient propulsion and electrical power systems for two new deep sea pipeline installation vessels that will build oil transport infrastructure off the coast of Brazil.

According to a recent statement, Repsol has filed a class action lawsuit against Argentina in response to the allegedly illegal takeover of YPF.

Apache Corp. has announced that it has found previously untapped reserves via an extension well, which is showing the highest production rates of any well drilled in the Beryl field since 2001.

Eni has announced that it has made a giant natural gas discovery offshore Mozambique.

The British company, BG Group has announced another gas discovery at the Mzia-1 well in Block 1 offshore Tanzania.

The return of Vladimir Putin to the Kremlin has been heralded as something of a retrograde step in the development and liberalisation of Russia’s economy.

French company Total, has announced that the gas leak at the company’s North Sea Elgin platform has finally been stopped after a successful top kill operation lasting just 12 hours.

Alpha Natural Resources has announced the establishment of the Alpha Foundation for the Improvement of Mine Safety and Health Inc. The Alpha Foundation is a non-profit organisation whose mission is to improve mine health and safety through funding projects by qualified academic institutions, not-for-profit entities and individuals associated with those entities.

Coatings contractor Socotherm sees its participation in the offshore oil and gas industry expand after Valle Silencioso SA increases its stake.

The Obama administration has stated that it is not opposed to exporting US LNG, although its opinion will depend upon official analysis used to determine whether more LNG export projects should go ahead.

The European Union has announced that it intends to file a trade suit against Argentina with the WTO.

FMC Technologies has signed an agreement with Technip to supply loading arms as part of the Shell Prelude FLNG project.

The Norwegian rig giant, Seadrill, has reported a higher than forecast net income for Q1, prompting the company to consider further newbuild orders.

Chesapeake Energy Corp has announced that it has received a loan worth US$ 3 billion from Goldman Sachs and Jeffries Group that should provide the company with short-term financial flexibility. The company’s CEO, Aubrey McClendon continues to face intense scrutiny over his financial activity.