World oil reserves stable despite drop in investment: BP

June 9, 2016

The world’s oil reserves were unchanged in 2015 despite a sharp drop in investment and exploration after the collapse in crude prices, BP said in its benchmark industry report. Proven oil and gas reserves that can be technically pumped out of the ground typically fluctuate with oil prices as production becomes more or less economically… Continue Reading »


WorleyParsons Nets EPCm Contract for BP’s Caspian Assets

April 14, 2016

WorleyParsons has been awarded a five year contract for Engineering, Procurement and Construction Management (EPCm) services for BP-operated assets in Azerbaijan, Georgia and Turkey. Under the agreement, WorleyParsons will provide EPCm services primarily to BP-operated Sangachal Terminal and pipeline systems in Azerbaijan, Georgia and Turkey. The Sangachal terminal receives, processes, stores and exports crude oil and gas… Continue Reading »


Island Constructor to Work for BP Off UK

April 11, 2016

Island Offshore has secured work for its offshore construction and well intervention vessel ‘Island Constructor’ with BP on the UK continental shelf. The contract follows the recently awarded work with Norske Shell on the Draugen field. The BP deal covers the provision of light well intervention (LWI) services offshore UK in July this year. Additional options might… Continue Reading »


US Judge Approves BP Civil Settlement With Government Over 2010 Spill

April 6, 2016

U.S. Judge Carl Barbier granted final approval on Monday to BP Plc’s civil settlement over its 2010 Gulf of Mexico oil spill after it reached a deal in July 2015 to pay up to $18.7 billion in penalties to the U.S. government and five states. The company at the time said its total pre-tax charges… Continue Reading »


BP, CNPC Sign First PSC for Shale Gas Exploration in China

April 2, 2016

BP plc and China National Petroleum Corporation (CNPC) have signed the first production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China. The contract will cover an area of approximately 1,500 square kilometers and positions CNPC as the operator of the project. This PSC is… Continue Reading »


Aker Solutions Clinches Subsea Contract from BP

March 31, 2016

Aker Solutions has won a global framework agreement to deliver engineering and project management services at BP-operated subsea oil and gas fields. The contract has a fixed period of five years and may be extended by two years. It covers subsea engineering services, asset integrity management and operations support. “We are delighted to partner with BP… Continue Reading »


BP, Statoil To Withdraw Staff From Algerian Plants After Attack

March 24, 2016

BP and Norway’s Statoil will withdraw staff from two gas plants in Algeria after an attack by militants on one of the sites in the North African country, the companies said on Monday. Militants attacked the In Salah gas plant, operated with state-owned Sonatrach, with rockets on Friday, causing no casualties or damage. Al Qaeda’s… Continue Reading »


Militants Fire Rockets At Algerian BP/Statoil Gas Plant, No Casualties

March 22, 2016

Militants attacked an Algerian gas plant operated by Norway’s Statoil and BP with rocket-propelled grenades on Friday, causing no casualties or damage but forcing the facility to be closed as a precaution. Algeria’s energy infrastructure is heavily protected by the army especially since the 2013 Islamist militant attack on the In Amenas gas plant, also… Continue Reading »


OneSubsea Bags BP Gig Offshore Egypt

March 16, 2016

OneSubsea has secured a contract from BP Exploration (Delta), and its partner DEA (Deutsche Erdoel AG), to supply subsea production systems for the West Nile Delta Giza/Fayoum and Raven fields, situated offshore Egypt. Giza/Fayoum will be tied-back to modified onshore Rosetta facilities and integrated with a new onshore plant for Raven. The scope of supply for the… Continue Reading »

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