November's top stories: <a href=ConocoPhillips begins production, Petronas contract” height=”299″ src=”” title=”November’s top stories: ConocoPhillips begins production, Petronas contract” width=”430″ />

ConocoPhillips completes sale of Kashagan field for $5.4bn


US-based exploration and production company ConocoPhillips has commenced Gas production from the Jasmine field in the UK’s central North Sea.

With a bridge-linked accommodation and utilities platform, the triple-jacket Jasmine development includes a 24-slot wellhead platform, a six-mile 16-inch multiphase pipeline bundle and a riser and processing platform bridge-linked to the existing Judy platform.

The high pressure, high temperature gas-condensate reservoir is located about six miles west of the Judy platform in blocks 30/6 and 30/07a of the central North Sea.

Petronas awards $3.12bn offshore contract to six companies

Malaysia’s state oil firm Petroliam Nasional (Petronas) has awarded a MYR10bn ($3.12bn) worth 13-package, five-year offshore hook-up, commissioning and maintenance services contract to six local service providers.

Petronas awarded the Pan Malaysia integrated hook-up and commissioning and topside major maintenance contract (Pan Malaysia integrated HUC & TMM contract) to Kencana, Dayang Enterprise, Petra Resources, PBJV, Carimin Engineering Services and Sigur Ros.

The contract, commencing in 2013, will run for a period of five years and involves the hook-up, commissioning and maintenance services for offshore facilities.

EnQuest receives approval for Kraken development plan in UK North Sea

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The UK Department of Energy & Climate Change (DECC) has approved EnQuest’s £4bn field development plan for the Kraken field in the North Sea, off the Shetland Islands.

EnQuest, which operates the Kraken field, will develop the project, its sixth production hub in the UK North Sea, on behalf of itself and its partners.

According to the company, the development has two separate heavy oil fields, both of which will benefit from heavy oil allowances.

UK offshore sector to produce additional oil: Report

A new report has revealed that changes to the way the UK’s offshore oil and gas sector operates are expected to produce at least three to four billion additional barrels of oil, in the next 20 years.

The findings, published by Wood Group’s recently retired chairman Sir Ian Wood ,call for a new focus on increasing the potential of the UK’s Continental Shelf (UKCS) waters.

According to the report, 41 billion barrels of oil and gas have already been produced from the UKCS, with 20 billion or more yet to be produced.

GE opens subsea manufacturing facility in Batam, Indonesia

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Subsea equipment supplier GE Oil & Gas has opened its newly expanded Batam Island subsea manufacturing facility in Indonesia, to meet demands of the region.

The $15m investment made since 2011 included technology upgrades and the new high bay workshop, where the company will begin manufacturing its first vertical subsea production trees in the Asia-Pacific region and increase local content in Indonesia.

Going forward, the facility will produce both vertical and horizontal subsea production trees.

Keppel wins $1.1bn contract for Transocean jackup rigs

Keppel Offshore & Marine’s (Keppel O&M), wholly-owned subsidiary Keppel FELS has bagged a $1.1bn contract from a subsidiary of Transocean to build five KFELS Super B Class jackup rigs.

Transocean also has options to build up to another five similar jackup rigs with Keppel FELS in addition to the five rigs, which are scheduled to be delivered from the first quarter of 2016 to the third quarter of 2017.

Keppel O&M offshore managing director Wong Kok Seng said the company, earlier in 2013, had already delivered three jackup rigs to Transocean.

ConocoPhillips completes sale of Kashagan field for $5.4bn

ConocoPhillips completes sale of Kashagan field for $5.4bn

US-based ConocoPhillips has completed a transaction with KazMunayGas (KMG) for the sale of its 8.4% stake in the North Caspian Sea production sharing agreement (Kashagan), for about $5.4bn.

ConocoPhillips had received notification from the Kazakhstan Ministry of Oil and Gas (MOG) in July 2013 that it was exercising the right under the Subsoil Law of Kazakhstan to assume the company’s proposed sale of its Kashagan interest to ONGC Videsh (OVL).

KMG was elected by the MOG as the purchasing entity.

ConocoPhillips commercial, business development and corporate planning executive vice president Don Wallette said the company has made significant progress on creating value for shareholders by divesting non-core assets, after becoming an independent E&P company in May 2012.

UK awards 52 further offshore licences under 27th round

The UK government has awarded 52 more offshore licenscs to oil and gas exploration firms, bringing the overall licence awards to a record 219 in its 27th offshore round, surpassing the record of 190 licences in the 26th round.

Being awarded as part of the government’s efforts to revive oil and gas exploration, the latest license winners also include 21 ‘smaller independents,’ that are new to the market and focus primarily on exploration, while are deficient in the pipelines and refineries of the key producers.

UK Energy Minister Michael Fallon said the level of interest in this round demonstrates the continuing attractiveness of the UK’s oil and resources and licensing system.

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