Oil & gas news

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).

Ophir Energy Plc has offered US$186.3 million to acquire Dominion Petroleum. The acquisitions will reinforce Ophir’s position in its East Africa play where it has already made three consecutive deepwater discoveries.

A consortium of Ecofys, Fugro and Real NewEnergy has started developing the Poseidon Atlantic centre, the first North American offshore wind turbine test centre, off the eastern Atlantic shore of the US state of Virginia

Latin America will account for half of the projected floating production Capex over the next five years according to a new Douglas-Westwood report.

Peabody Energy and ArcelorMittal have announced that they have received clearance from the Chinese Ministry of Commerce to proceed with their AU$16/share offer for all outstanding shares of Macarthur Coal Ltd.

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.