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Integrated Oil & Gas

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GasTerra lifts seizure on Eni assets in gas contract case

Thursday, 1 Sep 2016 12:43pm EDT

Italy oil major Eni says: has reached agreement with GasTerra regarding gas supply contract arbitration proceedings . has provided alternative security to GasTerra by means of a bank guarantee . following this move, GasTerra has lifted provisional seizures, including the one regarding Eni's stake in Eni International BV . after an arbitrations proceedings decision earlier this year GasTerra had seized Eni assets, including its stake in Eni International BV, to the tune of 1.01 billion euros Further company coverage: [ENI.MI] (Reporting by Milan newsroom).

Diamond Offshore says unit received notice of termination from Petroleo Brasileiro

Thursday, 1 Sep 2016 06:25am EDT

Diamond Offshore Drilling Inc : On August 30, 2016, unit received notice of termination from Petroleo Brasileiro S.A. of drilling contract on Ocean Valor . Co does not believe Petrobras had valid/lawful basis for terminating contract, co to defend rights of unit under contract . Drilling contract was estimated to conclude in accordance with its terms in October 2018 - SEC filing Source: (http://bit.ly/2bXomra ) Further company coverage: [DO.N] ((Bangalore.newsroom@thomsonreuters.com;)).

Poland's PGNiG to sell gas to PGE utility for PLN 2 bln

Thursday, 1 Sep 2016 05:58am EDT

PGNIG , PGE : Poland's state-run gas firm PGNiG will supply around 2.2 billion cubic metres (bcm) of gas to another state-controlled power group PGE for around 2.2 billion zlotys ($561.67 million), PGNiG said on Thursday. . The contract was signed on Aug 30 and will be binding by Oct. 1 2019, but could be extended by Jan. 1 2023, the company also said. Further company coverage: [PGN.WA] [PGE.WA] ($1 = 3.9169 zlotys) (Reporting by Agnieszka Barteczko; Editing by Marcin Goettig) ((agnieszka.barteczko@thomsonreuters.com;)).

Statoil plans 5-7 exploration wells in Barents Sea in 2017

Tuesday, 30 Aug 2016 08:07am EDT

Statoil Asa : To conduct a major exploration campaign in several parts of Barents Sea in 2017 . Working on obtaining approval from partners and authorities for an exploration campaign in 2017 covering between 5 and 7 wells in Barents Sea .During past months Statoil has entered or increased its share in five licences in Norwegian part of Barents Sea by a number of agreements with Point Resources, DEA, OMV and ConocoPhillips.

Maha Energy Q2 net loss widens to $651,180

Tuesday, 30 Aug 2016 01:50am EDT

Maha Energy AB : Said on Monday Q2 oil sales $41,060 versus $255,773 year ago .Q2 net loss $651,180 versus loss $434,560 year ago.

Statoil sees more M&A deals in oil sector in N.American shale and Norway

Monday, 29 Aug 2016 11:07am EDT

John Knight, Statoil's executive vice-president for global strategy and business development, told Reuters on Monday: Asked whether he expected more mergers and acquisitions in the oil sector: "I think there are loads of deals out there." . Says: "If you look at the acquisition and divestment markets for upstream oil and gas on a global basis over the last five years, they have been falling to all-time lows. There's not much activity that's been going on, but the number of active spots, one of those is in certain parts of North American shale and you've seen us divesting some parts there to take advantage of that. And the other part is Norway." Further company coverage: [STL.OL] (Reporting by Stine Jacobsen in Stavanger, editing by Gwladys Fouche) ((gwladys.fouche@thomsonreuters.com;)).

Petrobras CEO expects to make decision on binding offers for BR Distribuidora in Q1 2017

Monday, 29 Aug 2016 07:39am EDT

Petrobras CEO Pedro Parente told reporters on the sidelines of the ONS oil conference in Stavanger, Norway, on Monday: Expects to make decision on binding proposals for BR Distribuidora in Q1 2017. Says: "The binding proposals we assess that we are going to have them by the end of this year and then first quarter next year we will have a decision on this issue." . Says has as not yet received offers for BR Distribuidora (Reporting by Gwladys Fouche and Karolin Schaps) ((gwladys.fouche@thomsonreuters.com;)).

Statoil slashes cost of giant Sverdrup oil field, raises output forecast

Monday, 29 Aug 2016 01:09am EDT

Statoil Asa : statoil: increasing the value of johan sverdrup . First phase is currently estimated at NOK 99 billion ($11.96 billion), a reduction of nok 24 billion since pdo was submitted. Present break-even is reduced to below usd 25 per barrel for phase 1 . Now seeing results of good cooperation between statoil, its partners and suppliers . Improvements for phase 1 have been achieved by higher drilling and well efficiency and high quality in project planning and execution . Estimate for full-field investment has been improved from a range of nok 170-220 billion in 2015 to nok 140-170 billion (2016 value) . Phase 1 production capacity is currently estimated at 440,000 barrels of oil per day . Pdo originally estimated phase 1 production capacity to be between 315,000 and 380,000 barrels of oil per day . Johan sverdrup partners agree on expanding production capacity on johan sverdrup by introducing an extra processing platform on field centre . This will increase expected full production capacity on johan sverdrup full field to 660.000 barrels of oil per day . Pdo estimated full production from johan sverdrup to be 550,000-650,000 barrels of oil per day . Final concept selection for future phases will be decided upon project pre-sanction . Since pdo for first phase was submitted range of full-field resource estimate has improved from 1.7-3.0 to 1.9-3.0 billion barrels of oil equivalents.

Russia's Tatneft Q2 net profit up 5 pct y/y

Friday, 26 Aug 2016 01:11am EDT

Russia's Tatneft says: Q2 net profit attributable to shareholders at 30.89 billion roubles compared with 29.46 billion roubles a year earlier . Q2 revenue at 146.86 billion roubles compared with 144.45 billion roubles the previous year Further company coverage: [TATN.MM] (Reporting by Moscow Newsroom) ((moscow.newsroom@thomsonreuters.com;)).

Statoil says production at Fram C East platform starts

Wednesday, 24 Aug 2016 08:45am EDT

Statoil : Says Fram C East starts production to the Troll C platform . Says capital expenditures totalling some NOK 600 million, recoverable resources are estimated at 18.2 million barrels of oil and 1.6 billion standard cubic metres of gas . Says the development helps maximise production from the Fram area, in addition to boosting Troll C production and activities. . Says gas will be transported to Kollsnes via Troll A, whereas oil will be piped to Mongstad for further processing. Further company coverage: [STL.OL] (Reporting by Joachim Dagenborg) ((joachim.dagenborg@thomsonreuters.com;)).

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