Oil & Gas Exploration and Production

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FLEX LNG reaches agreement with Samsung to convert two LNG carriers from DFDE to MEGI

Monday, 2 Feb 2015 02:00am EST

FLEX LNG Ltd:Says agreement has been reached with Samsung Heavy Industries to convert propulsion system for two liquefied natural gas (LNG) carriers.Conversion is from DFDE to the fuel efficient 2-stroke slow speed MEGI main engines.Expected delivery dates of vessels have been postponed from Q1 2017 to Q1 and Q2 2018.

Var'yeganneftegaz OAO signs contract with Severo-Vareganskoye LLC

Thursday, 29 Jan 2015 11:16pm EST

Var'yeganneftegaz OAO:Signs agreement with Severo-Vareganskoye LLC to provide services for development, exploration and preparation of oil and gas at North-Varegansk license area.Value of agreement with Severo-Vareganskoye LLC is 3.06 billion roubles ($44.48 million), or 10.29 pct of company’s assets.

PT Medco Energi Internasional Tbk's unit secures $2 bln gas deal from PT Pertamina-Kontan

Wednesday, 28 Jan 2015 07:00pm EST

PT Medco Energi Internasional Tbk:Through its unit, PT Medco E&P Indonesia, has signed an agreement with PT Pertamina to supply more than 200 tln British thermal unit of gas in Aceh and North Sumatra, worth $2 bln-Kontan.

Liquefied Natural Gas Limited signs gas pipeline interconnect agreement

Tuesday, 27 Jan 2015 06:00pm EST

Liquefied Natural Gas Limited:Says that its wholly owned subsidiary, Magnolia LNG LLC (MLNG), has executed a Gas Pipeline Interconnect Agreement (PIA) with Kinder Morgan Louisiana Pipeline LLC, (KMLP).Says that it sets out the technical scope and specifications for gas supply to the Magnolia LNG Plant.Says the PIA defines each parties’ obligations in relation to the design, procurement, construction, installation, operations, maintenance and ownership of the facilities.

Tethys Petroleum Ltd announces gas production contract for fifteen year extension

Friday, 23 Jan 2015 02:00am EST

Tethys Petroleum Ltd:Announced that its wholly owned Kazakh subsidiary, TethysAralGaz LLP, has received permission from the Ministry of Energy of the Republic of Kazakhstan to extend the Kyzyloi Gas Production Contract for another fifteen years, from June 14, 2014 to Dec. 31, 2029.

North Energy recieves two new licences

Tuesday, 20 Jan 2015 09:32am EST

North Energy ASA:Has received two new Norwegian production licences in the 2014 awards in predefined areas (APA) round, according to a press release from the Ministry of Petroleum and Energy today.

Rocksource awarded of two new licenses

Tuesday, 20 Jan 2015 08:54am EST

Rocksource ASA:Says announces the award of two new licenses in the APA 2014 Licensing Round on the Norwegian Continental Shelf announced today by the Ministry of Petroleum and Energy.

CAMAC Energy Inc terminates northern offshore energy searcher drilling rig contract

Monday, 12 Jan 2015 06:00am EST

CAMAC Energy Inc:Has terminated its contract with Northern Offshore International Drilling Company Ltd for drillship energy searcher.Company notified Northern on Jan. 7, 2015 that it elected to terminate contract with immediate effect for Northern's repudiatory breach of contract and other material breaches of drilling contract by Northern.These breaches have caused significant damages and loss, including delay damages and wasted spread costs to company.CAMAC is considering all legal options to enforce its rights under contract.

Alkane Energy PLC updates on approval of capacity mechanism agreements

Monday, 5 Jan 2015 02:00am EST

Alkane Energy PLC:Alkane announced on Dec. 19 the provisional award of 101MW of Capacity Mechanism Agreements starting from Oct. 2018.The award of the agreements had been subject to the outcome of a review by the secretary of state.The review has been completed, the results of the capacity auction are now final and the award of the agreements is confirmed.Alkane has won Agreements covering 101MW starting from October 2018, and will earn a combined additional revenue of £14.4m under the Agreements over the period to Sept. 2033.The Group will receive £19,400/MW per annum for making capacity available to support the DECC Capacity Programme, with 46MW new sites being secured on 15 year agreements and 55MW existing sites on one year agreements.Alkane will fulfill these agreements with no change to current running regime.The new build sites will provide Alkane with additional secure income of £0.9m p.a. and provide long term visibility of income stretching out from 2018 until 2033.The existing facilities will provide £1.1m revenue in the year commencing Oct. 2018.

Liquefied Natural Gas Limited signs technical services agreement

Sunday, 4 Jan 2015 04:00pm EST

Liquefied Natural Gas Limited:Says that its wholly owned subsidiary, Magnolia LNG LLC, has executed a Technical Services Agreement with Kellogg Brown & Root LLC, a wholly owned subsidiary of KBR, Inc. to undertake cost verification and provide other services supporting MLNG project delivery.It is proposed that KBR and SKEC will form an integrated EPC Joint Venture which will execute a bankable EPC Contract following the formation of their EPC JV.In addition both parties will work collaboratively going forward to complete the scopes of services provided under their respective TSA Agreements.

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