US states reach $20.8bn final settlement with BP over 2010 Gulf of Mexico oil spill

Oil Spill

The US Justice Department and five Gulf states announced a final settlement of $20.8bn with BP over the disastrous Gulf of Mexico oil spill in 2010.

Civil claims have been filed by each of the Gulf States Alabama, Florida, Louisiana, Mississippi and Texas against BP, following the spill.

The latest settlement resolves a lawsuit filed by attorney general Eric Holder on 15 December 2010 against BP and several co-defendants, seeking to hold them accountable for the Deepwater Horizon disaster.

Bechtel to use Chart’s technology to design and build FLNG process facilities

US-based Bechtel and Chart Energy & Chemicals signed an agreement to design and build floating LNG (FLNG) process facilities.

As part of the agreement, Bechtel can use Chart’s Integrated Pre-cooled Single Mixed Refrigerant (IPSMR) liquefaction technology for FLNG facilities.

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Chart’s equipment, including brazed aluminum heat exchangers and cold boxes will be purchased by Bechtel for facilities designed with this technology.

SBM Offshore secures FEED contract for $40bn Browse development, Australia

SBM Offshore

Technip awarded a front-end engineering and design (FEED) contract to SBM Offshore for three, large-scale turret mooring systems for the proposed $40bn Browse floating liquefied natural gas (FLNG) development off Australia.

Under the contract, the FEED elements of Browse’s turret work will be included.

According to SBM, the three, large-scale turrets are expected to be designed similar to but slightly bigger than the Shell Prelude FLNG turret awarded to it 2011.

DNV and Decom North Sea seek partners for guidance for offshore installations

DNV GL joined forces with Decom North Sea (DNS) to seek industry partners to participate in a joint industry project (JIP) for guidance on ending operations on offshore installations.

The company’s project will develop industry guidance to assist in cost-efficient major accident hazard management for installations at the time of late-life and end of life operations.

US cancels two Arctic offshore lease sales


The US Department of the Interior (DoI) announced it was cancelling two potential Arctic lease sales scheduled under the existing five-year offshore oil and gas leasing programme, due to existing market conditions and low industry interest.

The department’s latest move follows an announcement made by Shell that it would cease further exploration activity at the Burger prospect in the Chukchi Sea for the foreseeable future.

Last month, Shell drilled the Burger J exploration well in Alaska’s Chukchi Sea to a total depth of 6,800ft and said that the indications of oil and gas found in the well are not sufficient to carry out further exploration in the Burger prospect.

Aker Solutions and MAN Diesel & Turbo to develop new subsea compression technology

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Norwegian company Aker Solutions and Germany-based MAN Diesel & Turbo announced they would form an alliance to develop the next-generation in subsea compression systems for use even at the smallest oil and gas fields.

The latest alliance is aimed at developing new, cost-effective technology for high-capacity subsea compression systems.

According to Aker, the companies will build on their experience from the successful delivery of the first subsea gas compression system at Norway’s Åsgard platform.

E.ON to offload 100% stake in North Sea assets for $1.6bn

Germany-based E.ON agreed to sell 100% of its stake in its Norwegian oil and gas business E.ON E&P Norge to DEA Deutsche for $1.6bn.

E.ON E&P Norge, which holds the portfolio of E.ON’s oil and gas North Sea upstream business, was put under strategic review in November last year.

According to E.ON, the divestment of this business represents a step forward in the review process.

Ineos to acquire natural gas assets in North Sea for $750m

Swiss chemicals company Ineos signed a deal to acquire a portfolio of natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel for $750m, which is owned by Russian billionaire Mikhail Fridman’s investment fund LetterOne.

As part of the deal, Ineos Upstream, a new oil and gas subsidiary set-up by Ineos, will acquire the Breagh and Clipper South fields in the Southern North Sea that provide up to 8% of UK gas.

According to the company, the fields are located close to its assets in the North East and Scotland.

Schlumberger exits $1.7bn deal to acquire stake in Eurasia Drilling

Schlumberger backed-out of a previously announced $1.7bn deal to acquire a stake in Russian company Eurasia Drilling (EDC) after Russia failed to approve the deal by the deadline.

Eurasia Drilling said that the 30 September 2015 deadline has expired, so the proposed merger and related transaction with Schlumberger could not go through.

Eurasia Drilling said in a statement: "Schlumberger and EDC have a long-standing relationship and strategic partnership in the provision of oilfield services to our mutual customers in Russia and the CIS.

Golar’s FLNG vessel obtains final approval to operate in Cameroon waters

Golar’s floating liquefied natural gas (FLNG) vessel secured final approval by the Gas Convention for its installation and operation in Cameroon waters, offshore from Kribi.

Société Nationale des Hydrocarbures (SNH), Cameroon’s state-owned oil and gas company, Perenco Cameroon, Golar have performed a binding Gas Convention with the Republic of Cameroon, which will govern the GoFLNG vessel’s operation.

Already agreed between Golar and Perenco, the binding tolling agreement is expected to be formally approved by SNH, the 25% upstream partner.