Drilling & production

The latest EIC Monitor tracking new active and future projects across the global energy industry shows growth in potential investment value across all sectors this quarter.

Aker Solutions has been awarded contracts for the supply of Pusnes offshore loading systems for ten shuttle tankers that will operate in Brazil and Norway. The total contract value for Aker Solutions is approximately NOK 150 million.

BP and its’ partners Shell, ConocoPhillips and Chevron have received government approval to proceed with the £45 billion Clair Ridge project.

The organisation which represents America’s oil and gas companies has cautioned the president’s job council not to overlook potentially a million new oil and natural gas jobs, which could be created by energy development.

Teekay LNG Partners L.P. and its joint venture partner Marubeni Corporation have agreed to acquire ownership interests in eight LNG carriers from Denmark-based, A.P. Moller-Maersk A/S, for approximately US$ 1.4 billion.

Sinopec has agreed to buy Daylight Energy, the intermediate oil an gas company, for C$ 2.1 billion, the deal will give Sinopec access to over 300,000 acres of land rich in oil and shale gas reserves.

Wintershall has restarted production from the offshore oil field Al Jurf in Libya and has reportedly restarting production at some if its onshore oil fields too after it flew in a skeleton crew of 20 to the south eastern desert to restart the fields.

The Gemasolar power plant, owned by Torresol, which exhibits ground-breaking molten salt technology has been inaugurated in Fuentes Andalucia, Spain.

Total has signed the final agreements to jointly develop the Yamal LNG project, becoming the main international partner on this gas liquefaction project with a 20% share. Novatek intends to keep at least a 51% interest in the project.

The BP Deepwater Horizon spill, pipeline leaks, population growth, urbanization, increasing demand, and opposition to the siting of new pipelines have combined to focus greater attention on pipeline safety. However, America is still heavily reliant on oil and there needs to be a compromise between pipeline security and the security of supply. By: Jude Clemente, JTC Energy Research Associates.

Coalbed methane (CBM) may become as important for Asia and Australia as shale gas has become for North America, but this will require the CBM industry to overcome critical commercial, technical and regulatory challenges.

Douglas Westwood has forecast strong growth in the drilling and production of unconventional gas through to 2020.

Anglo American has announced that it has acquired 100% ownership of Peace River Coal Limited Partnership.

October 2011 - What if businesses measured 'human productivity' as well as equipment productivity?

Chevron Technology Ventures has launched a project, which will use over 7600 solar mirrors to produce steam for use in enhanced oil recovery at the Coalinga field.