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Tuesday, April 22, 2014 - Aker Solutions and Baker Hughes are teaming up to develop technology designed to boost output and reduce costs at subsea fields.
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Industry Headlines

Minister: Egypt to Pay Some $1B Owed Oil Firms Within Two Months
Wednesday, April 23, 2014 Egypt will pay about $1 billion of the money it owes to foreign oil companies within the next two months, the state's MENA news agency says, quoting Oil Minister Sherif Ismail.
Total Says No Oil Output Expected from Kashagan This Year
Tuesday, April 22, 2014 Total says no oil production was to be expected from the troubled Kashagan project in Kazakhstan this year and it was not likely to yield much next year either.
Exxon Finds Tapping Device On UK Oil Pipeline
Tuesday, April 22, 2014 ExxonMobil says it found a tapping device on a UK oil products pipeline following reports that a stash of diesel had been discovered that police said had been siphoned off by thieves.
Kemp: Obama Stalls Drilling On Federal Lands
Tuesday, April 22, 2014 The White House likes to claim a share of the credit for the drilling revolution that has transformed North America's energy production and security, Kemp says.
Russia's Putin Wants Beefed-Up Presence In Arctic
Tuesday, April 22, 2014 President Putin says that Russia should step up its presence in the Arctic and challenge other nations in exploring the world's largest untapped natural reserves.
Oil Falls On Expectations US Stocks Rose Close To Record
Tuesday, April 22, 2014 US crude futures fall ahead of data expected to show that inventories in the world's top oil-consuming nation have risen close to record highs.
Biden Offers US Help On Energy, Aid Allocation For Ukraine
Monday, April 21, 2014 US VP Biden will announce a package of technical assistance focused on energy and economic aid distribution during a two day visit to Kiev.
Oil Futures Range-Bound In Low Volumes, Eyes On Ukraine
Monday, April 21, 2014 Brent crude oil strengthens slightly while US crude is briefly supported by positive economic data.

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Exploration

NZOG Completes 2D Seismic Survey in Waru Permit off South Taranaki
Wednesday, April 23, 2014 New Zealand Oil & Gas reveals that the Aquila Explorer vessel has completed acquisition of 2D seismic data in the Waru permit off South Taranaki, New Zealand.
Beach Energy Spuds Bungaloo-1 Well in PEL 494 in Otway Basin
Wednesday, April 23, 2014 Cooper Energy reports that drilling has commenced at Bungaloo-1 well in permit PEL 494 in Otway Basin, South Australia.
Lundin Spent $127M on Exploration during First Quarter
Tuesday, April 22, 2014 Sweden's Lundin Petroleum expenses $127 million for the drilling of four non-commercial wells during 1Q 2014.
OMV Completes 2D Seismic Survey in PEP 53537 in Offshore Taranaki Basin
Tuesday, April 22, 2014 OMV completes 2D seismic survey in petroleum exploration permit 53537 in offshore Taranaki Basin, New Zealand.
MEO Receives Nod for Vulcan Sub-Basin AC/P50, AC/P51 Work Program Variation
Tuesday, April 22, 2014 MEO Australia receives official approval for work program variations for exploration permits AC/P50 and AC/P51 in the Vulcan Sub-Basin off Northern Australia.
Drilling Completed at Cambay-77H Well in Cambay PSC in Gujarat
Tuesday, April 22, 2014 Oilex discloses that drilling at Cambay-77H well in the Cambay Production Sharing Contract in Gujarat, India has been completed.
RH Petrogas Reduces Stake in Block SK331 in Sarawak
Monday, April 21, 2014 RH Petrogas's unit sells 49% of its stake in RHP Mukah, the operator of Block SK331 in Sarawak, Malaysia, to Tumbuh Tiasa Enterprises.
Petronas Eyes Brazil, Russia, India and China for E&P Growth
Monday, April 21, 2014 Petronas is keen to expand its business into the energy, including petroleum, sector in Brazil, Russia, India and China, according to a local daily.

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Production

PTTEP's Subsidiaries to Acquire Hess' Upstream Assets in Thailand for $1B
Wednesday, April 23, 2014 PTTEP's subsidiaries sign deal to acquire Hess' stakes in the Contract 4 Project in the Gulf of Thailand and in the Sinphuhorm project.
Gas2Grid to Commence Production Testing Soon at Malolos-1 Well in Cebu
Wednesday, April 23, 2014 Gas2Grid will commence production testing soon at Malolos-1 well in the Malolos oil field in Cebu in the Philippines using Rig-2.
Genel on Track for 60,000-70,000 Barrels per Day in 2014
Tuesday, April 22, 2014 Genel Energy says it remains on track to produce between 60,000 and 70,000 barrels of oil equivalent per day in 2014.
NOC: Libya Oil Output 220,000 Bpd, Several Fields Still Closed
Tuesday, April 22, 2014 Libyan oil output is currently around 220,000 barrels per day as several western oilfields remain closed due to protests.
Rosneft Says Discusses Oil, Gas Projects in Mozambique
Tuesday, April 22, 2014 Rosneft discusses the possibility of becoming involved in Mozambican oil and gas projects.
Range Makes Progress with Trinidad Assets
Tuesday, April 22, 2014 Range Resources reports progress with its onshore assets in Trinidad.
Neptune Marine Services Wins a Survey, ROV Contract for Ichthys LNG Project
Tuesday, April 22, 2014 Neptune Marine Services wins a survey and remotely operated vehicles contract from McDermott for the Ichthys liquefied natural gas project offshore Western Australia.
Drilling Continues at Pateke-4H Well in NZ's Offshore Taranaki Basin
Tuesday, April 22, 2014 AWE reports that drilling continues at Pateke-4H development well in petroleum mining permit 38158 offshore Taranaki Basin, New Zealand.
PetroChina Aims to Produce 92 Bcf of Shale Gas in 2015
Tuesday, April 22, 2014 PetroChina intends to produce 91.8 billion cubic feet of shale gas in 2015, with production coming from the Sichuan and Yunnan provinces in China.

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Finance and Investing

Libya Slashes Budget By A Third To Offset Loss Of Oil Revenue
Monday, April 21, 2014 Libya must slash its budget by a third and halt infrastructure funding to offset the loss of oil revenues due to a 9-month shutdown of major ports and oilfields, the head of parliament's budget committee says.
Halliburton Sees Profit Growth On Improved Margins In N. America
Monday, April 21, 2014 Halliburton forecast a 25% jump in earnings in the current quarter, helped by a recovery in margins in North America and growth in overseas markets.
Malaysia's Hong Leong Subscribes for $155M New Shares in Ezion
Wednesday, April 16, 2014 Ezion Holdings announces that two subsidiaries of Malaysia's Hong Leong Company will each subscribe for 50 million new ordinary shares in the firm for approximately $155 million.
Seadrill Sells 4% Interest in SapuraKencana for $300M, Still Holds 8% Stake
Thursday, April 10, 2014 Seadrill sells 4% stake in SapuraKencana Petroleum for $300 million, reducing its interest in the Malaysian company to 8%.
Nigerian Oil Group Seplat Valued at $1.9B in Market Debut
Wednesday, April 09, 2014 Nigerian oil and gas company Seplat raises $500 million on stock market debut, valuing the firm at $1.9 billion.
Offshore Firm's IPO May Give Singapore Market Shot in the Arm
Tuesday, April 08, 2014 A major operator of maritime support vessels controlled by Malaysia's richest man is seeking up to $380 million in a Singapore IPO.

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Company Operations

China's YZJOE Lays Keel of Amedeo's Jackup Explorer 1 at Taicang Yard
Wednesday, April 23, 2014 Amedeo Resources reports that the keel of Explorer 1 jackup has been laid on schedule at Jiangsu Yangzijiang Offshore Engineering Co.'s new yard in Taicang, northwest of Shanghai, China.
CNOOC Reports 1Q 2014 Net Production of 108.1 MMboe, Up 15.5% YOY
Wednesday, April 23, 2014 CNOOC reports net production of 108.1 million barrels of oil equivalent in the first quarter of 2014, 15.5 percent higher than last year.
Technip Inks Deal to Sell 75% Stake in Seamec to HAL Offshore for $40M
Wednesday, April 23, 2014 Technip enters into an agreement to sell up to 75 percent stake in India-based diving support vessel provider Seamec to HAL Offshore for around $40 million.
Aker and Baker Agree Subsea Technology Deal
Tuesday, April 22, 2014 Aker Solutions and Baker Hughes are teaming up to develop technology designed to boost output and reduce costs at subsea fields.
Fred. Olsen Rig Upgrade Delayed, Seen More Expensive
Tuesday, April 22, 2014 Norway's Fred. Olsen Energy says an upgrade on its Blackford Dolphin rig will be more expensive and take longer than previously thought.
Kea Appoints New Managing Director
Tuesday, April 22, 2014 New Zealand-focused Kea Petroleum appoints Dr Ian Brown as its new managing director.
Paradigm Supplies Software Solutions to New Zealand's Todd Energy
Tuesday, April 22, 2014 Paradigm supplies New Zealand's Todd Energy with seismic interpretation, formation evaluation and reservoir modeling software solutions.
Cosco's Subsidiaries Bag $100M Contracts to Build 2 PSVs, 4 ERRVs
Tuesday, April 22, 2014 Cosco Corporation's subsidiaries bag contracts to build 2 platform supply vessels and 4 emergency response/rescue/field support vessels for around $100 million.
Ex-Energy Minister To Head Chile State Oil Firm ENAP
Monday, April 21, 2014 Former energy minister Marcelo Tokman will take over as head of Empresa Nacional del Petroleo (ENAP) from May.

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