Oil & gas news

The Indonesian Banyu Urip field in the Cepu block in East Java has achieved a major milestone with the award of the first of five EPC contracts for work on major facilities at the development, according to its operator ExxonMobil.

LUKOIL has awarded Baker Hughes a two-year contract to provide full drilling and completion services for 23 wells in the West Qurna field in southeast Iraq.

The Securities and Exchange Commission has sent a subpoena to Exco Resources demanding that they hand over documents which prove actual well production and reserve estimates.

Hunting PLC, the international energy services group, has agreed to acquire TSI Acquisition Holdings LLC and its subsidiaries including Titan Specialties, Ltd. for a total consideration of US$ 775 million (approx £475 million).

Spectrum has acquired the 2D Multi-Client library of CGGVeritas encompassing more than 500,000 km of seismic data. This significant increase in Spectrum’s Multi-Client data library involves a US$ 40 million transaction.

McDermott International, Inc. has been awarded a fabrication contract by Shell for the West Delta 143 “C” deck, jacket, piles, and bridge located in 370 ft of water in the Gulf of Mexico.

The American Public Gas Association comment on the Environmental Protection Agency’s propositions to amend the greenhouse gas reporting rule.

As Burma and China improve their resources development partnership, concerns have arisen over the impact such the joint ventures will have on conflict and stability in the region.

Simba Energy Inc. has been granted a Production Sharing Contract (PSC) by the Ministry of Energy, Republic of Kenya for Block 2A, comprising 7801.72 square kilometres in northeast Kenya.

TGS has commenced a new multi-client 3D survey in the Faroe-Shetland Basin. The survey covers 2500 km2 west of the British Isles over quads 6004, 204 and 205 and is acquired in partnership with PGS.