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Suncor may buy Petro-Canada for $15 billion

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March 23, 2009

Suncor Energy Inc is in advanced talks to acquire rival Petro-Canada for about $15 billion in shares, the Wall Street Journal reported yesterday, without quoting any sources. If Suncor does buy its rival, the deal would create Canada’s biggest energy company with a market value of $35 billion, surpassing the market value of EnCana Corp, the current leader.

Suncor, the Canadian number 2 oil exploration and refining firm, is offering a 30% premium to Petro-Canada’s shares. The company’s New York-listed stock closed on Friday at $24.01.

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Fresh hope for families of North Sea diving pioneers

HSE
Safety

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March 23, 2009

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By Declan Harte

The families of British deep-sea divers killed in the early days of North Sea oil have been given fresh hope in a campaign for compensation.

Relatives have claimed for years the men were sent on dangerous missions without proper safety equipment.

They sought damages from the Norwegian government, which owned the oil fields where the men worked, submitting a case to the district court in Oslo.

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Petrobras' oil workers start 5-Day strike

Unions

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March 22, 2009

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RIO DE JANEIRO — The Brazilian Oil Workers Federation (FUP), a union that represents oil workers at state-run Petrobras, intends to carry out a five-day strike that will commence on March 23, reports Dow Jones.

The union said Friday that workers are planning to suspend their duties in protest of Petrobras’ latest profit-sharing proposal, which offers reduced profit-sharing payments compared to the last four years, according to Dow Jones. The oil giant’s reduction proposal was issued depite the company’s record earnings last year.

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Technip awarded Ekofisk contract

Vessels and Equipment

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March 22, 2009

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Technip Norway has been awarded by ConocoPhillips Skandinavia AS a lump sum contract for the Ekofisk VA subsea water injection project located in block 2/4 on the Norwegian Continental Shelf.

This contract provides for the installation, tie-in and commissioning of subsea facilities between the existing Ekofisk facilities and a new eight well subsea injection template (2/4VA).

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StatoilHydro reconsidering Barents Sea

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March 22, 2009

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None of the new hydrocarbon findings made by StatoilHydro in the Barents Sea are big enough for the development of new infrastructure. In the course of the year, the company might reconsider its activities in the area.

In the conference Exploration Revived in Bergen Norway this week, StatoilHydro’s Geir Richardsen indicated that his company might review its plans for the Barents Sea, according to BarentsObserver.

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First turbine installed at new Danish offshore wind farm

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March 22, 2009

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COPENHAGEN — DONG Energy, Siemens and A2SEA have installed the first turbine at the offshore wind farm Horns Rev 2 in the North Sea. When inaugurated later this year, Horns Rev 2 will be the world’s biggest offshore wind farm.

The installation was carried out using the installation vessel Sea Power and was complete after 12 hours. Horns Rev 2 is scheduled for completion in late 2009, just in time to “light up” the international climate change conference, COP 15, to be held in Copenhagen in December.

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Brazil union approves Petrobras strike

Unions

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March 22, 2009

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RIO DE JANEIRO — Workers with the FUP oil union have approved a plan to hold a five-day nationwide strike against Brazilian federal energy company Petrobras (NYSE: PBR) starting March 23.

FUP intends to shut down production at refineries, terminals and E&P units.

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Canadian TSB discovers broken stud in helicopter wreckage

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March 22, 2009

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GATINEAU, QUEBEC — The Transportation Safety Board (TSB) of Canada have found a broken main gearbox filter bowl assembly mounting stud in the wreckage of the Cougar Helicopter Sikorsky S92A that crashed off St. Johns, Newfoundland, on March 12, killing 17 people.

Sikorsky Aircraft Corp. issued an Alert Services Bulletin (ASB) on Jan. 28, 2009, indicating that the main gearbox filter bowl assembly mounting titanium studs should be replaced with steel mounting studs. This one-time modification was to be accomplished within the next 1,250 flight hours or within one year of the issue date of the ASB, whichever occurred first.

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Hallin, Bina Marine cancel subsea support vessel contract

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March 22, 2009

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SINGAPORE — Marco Polo Marine subsidiary Bina Marine and Hallin Marine Subsea International have canceled a SGD 74.5 million (US$49.4 million) shipbuilding contract for SOV Coniston, a DP2 subsea operations vessel.

The vessel, originally scheduled to be delivered in the fourth quarter of 2010, would have been Hallin’s third subsea operations vessel.

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