Oil & gas news

Aker Solutions has secured a contract for subsea compression topside modifications of the Åsgard A and B platforms with Statoil. The contract value is approximately NOK 650 million.

Despite the risks, Russian oil is once more where the action is for Western firms, with a spate of high-profile deals inked in the first quarter of 2011.

Petrobras has awarded GE Oil & Gas a four-year service agreement to deliver repairs, maintenance and retrofits on Petrobras’ fleet of subsea equipment installed in the Campos Basin offshore Brazil.

North American gas companies have asked odour experts at Cardiff University to solve the potentially lethal problem of shale gas losing its smell.

Rio Tinto will move to compulsory acquisition of Riversdale Mining Ltd (Riversdale) after Tata Steel accepted all of its shareholding into Rio Tinto’s takeover offer for Riversdale.

Woodside Petroleum has been forced to delay its Pluto LNG project due to bad weather and unexpected delays, and this has had an impact on cost.

Mozambique, the East African country which has already proved its potential as a major contender for its oil and gas reserves, will be soliciting for bids to open up the area in the northern province for exploration.

Saudi Arabaia is breaking ranks from OPEC to offer increased supply to Europe, as Libya and Iraq struggle to protect production and processing facilities from the effects of civil unrest.

GE Oil & Gas has announced that its Wellstream business, acquired in March, has been awarded a long-term, flexible pipe and subsea equipment logistics services contract by Petrobras). The long-term contract is initially valued in excess of US$ 200 million.

Chevron has been awarded a five year permit worth € 50 million (£71.87 million) to explore a huge shale gas play in Northeastern Bulgaria.