Oil and gas industry news : BHP has approved $696 million funding for the Atlantis Phase 3 project, an offshore oil project in the US Gulf of Mexico to be developed with an investment of $1.3 billion. BHP holds a 44% stake in the Atlantis Phase 3 project, located about 130 miles off the coast […]
Wind industry news : Ares Management said that a fund managed by its Infrastructure and Power strategy has completed acquisition of three operating wind farms in Texas with a combined capacity of 430MW from BP Wind Energy North America. The transaction involved two wind farms in the ERCOT West region – 145MW Sherbino Mesa 2 and […]
Oil and gas industry news : BP and its partners have commenced production from the £4.5 billion worth Clair Ridge project located in Scottish territorial waters to exploit an estimated seven billion barrels of hydrocarbons. Clair Ridge project enters into production Clair Ridge project is the second phase development of the Clair oilfield, located 75km […]
UK-based oilfield services company Expro has secured a four-year contract extension from BP for the $28 billion Shah Deniz Stage 2 project offshore Azerbaijan as per the latest oil and gas industry news. Shah Deniz Stage 2 project Contract Extension Under the extended contract, Expro will continue to provide subsea landing string equipment and services to […]
Energy acquisition news : Abu Dhabi-based Mubadala Petroleum has forayed into the Shorouk Block, an Egyptian offshore concession in the Mediterranean Sea by completing its acquisition of a stake of 10% for $930 million from Italian energy giant Eni. Through the deal, the Abu Dhabi state-owned Mubadala Investment Company subsidiary, will take part in the […]
British oil and gas major BP has commenced gas production from Atoll Phase One, an offshore gas project that has been developed with an investment of about $1 billion in Egypt. Located in the North Damietta block in the East Nile Delta, the offshore gas project has been completed seven months earlier than expected and […]