The exploration and production company Hess Corporation said that Aspy probe did not encounter commercial quantities of hydrocarbons.Hess Corporation announced in a press statement that drilling of the Aspy exploration well offshore Nova Scotia reached total depth of 7…
Yinson Holdings has signed a heads of agreement with a consortium of Japanese companies to divest 26% stake of Yinson’s wholly-owned subsidiary, Yinson Production (West Africa). The deal, worth between US$104-$117 million, is with the JV comprised of Sumitomo Corp…
Sumitomo Corp. and Dutch firm Airborne Oil & Gas have signed a worldwide commercial cooperation agreement for the sale and distribution of thermoplastic composite pipe (TCP) products to the global oil and gas industry. The two firms will…
ExxonMobil has chosen Darren W. Woods to be president and a member of the company's board of directors, effective 1 January 2016. Woods is currently senior vice president of the corporation. Rex W. Tillerson will continue his roles of chairman of the board and CEO…
Statoil has, on behalf of the Johan Sverdrup partners, awarded contracts for the linepipe, coating and pipe installation of the Johan Sverdrup export pipelines. The total contract value is estimated at slightly less than US$288 million (NOK 2…
Japan's JOGMEC is to provide equity financing to fellow Japanese firms Idemitsu Kosan and Sumitomo Corporation, which acquired participating interests in the exploration Blocks 39 and 40/02 offshore, Vietnam. Idemitsu and Sumitomo signed the production sharing contract (PSC)…
VAM USA celebrated its 30th anniversary on 9 October. The company hosted a gathering at its Houston headquarters to mark the event. Among the participants were customers, the board members from Vallourec, NSSMC and Sumitomo Corporation, the group’s North American leadership…
African Petroleum Corporation has agreed a farm-out deal with Buried Hill Africa on Block CI-509 offshore Côte d’Ivoire (Ivory Coast), west Africa. Buried Hill will get a 10% interest in the block in return for funding 21.1% of the…
UK-based exploration and production firm Ithaca Energy has agreed to buy non-operated stakes in three producing fields from Sumitomo Corporation. The deal, worth about US$170 million, will see Ithaca take a further 20% interest in the Shell-operated central North Sea Cook field…
Hess Corporation is set to complete its transition into a pure-play exploration and prodution company after agreeing a deal to sell its retail business to Marathon Petroleum Corporation for US$2.6 billion. Hess says the business unit…
Bids from Russia’s Gazprom and China’s China National Offshore Oil Corporation (CNOOC) have been included in the latest licensing round offshore Tanzania. The 4th Deep Offshore and North Lake Tanganyika Licensing Round closed on May 15…
Maersk Drilling’s second drillship, Maersk Valiant, has started its voyage to the US Gulf of Mexico (GOM) today after being delivered from Samsung Heavy Industries' (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant (pictured) will…
Total has finalized an agreement to sell its 20% contractor interest in OML 138 block to a wholly owned subsidiary of China Petrochemical Corporation (Sinopec), for approximately US$2.5 billion in cash, the company announced on 19 November 2012…
ITT Corporation has signed an agreement to acquire Germany's Bornemann Pumps. Robert J Pagano Jr, president of ITT's industrial process business, said Bornemann's twin-screw technology and multiphase applications experience would align strategically with his business line…
SeaRobotics Corporation has teamed with a private equity group led by Ocean Investments Capital to fund the expansion of the company’s core business, including the production of unmanned surface vessels (USVs), the commercialization of its Robotic Hull Cleaning systems…
