Samsung Heavy Industries has placed an $80 million order to procure electrical power systems, motors, and energy-efficient drives from ABB for two liquefied natural gas (LNG) carriers and five drilling vessels to be constructed at Samsung’s shipyard located in Korea.
Lundin Norway, which is a wholly owned subsidiary of Lundin Petroleum, has announced that the Clapton exploration well 2/8-18S has been completed in PL440S. The well is situated approximately 5 km towards the eastern part of the Eldfisk Øst field and 10 km towards the northern part of the Valhall Field located in the North Sea.
Independence Energy has confirmed the arrival of the drill rig at the Taylor-MEI #113 well located in Coleman County, Texas.
The gas infrastructure, which includes LNG terminals, gas storage plants and pipelines, will definitely require significant investment in the future. Transitions can be seen in the European gas market.
Ukraine decreased the amount of imported natural gas by 48.77 percent over the first five months of 2012, compared to the respective period of 2011. The volume of imported gas in January - May 2012 reached 12.8 billion cubic meters.
In advance of a panel discussion on hydraulic fracturing regulations, Pennsylvania Department of Environmental Protection Secretary Mike Krancer today outlined in a letter to the Natural Resources Defense Council (NRDC) some perspectives that the organization missed in its May 2012 report, "In Fracking's Wake: New Rules are Needed to Protect Our Health and Environment from Contaminated Wastewater."
Synergy Resources Corporation, a domestic oil and gas exploration and production company focused in the Denver-Julesburg Basin (the "D-J Basin"), today announced the completion of its mid-year reserve analysis. The evaluation was prepared with an effective date of February 29, 2012, and reflects development activity during the first six months of the fiscal year. As of February 29, 2012, the Company had estimated proved reserves of 3.492 million barrels of oil and 23.798 billion cubic feet of gas. The estimated present value before tax (discounted at 10%) is $122.576 million. Compared to the annual reserve report prepared at August 31, 2011, quantities increased by 68% and value increased by 71%.
Oil and gas experts from governments and national and international companies came together from June 19-21, in Malabo, the capital of Equatorial Guinea, for the 15th Gulf of Guinea Oil and Gas Conference. This was the first GOG conference hosted by Equatorial Guinea.
Demand for fossil fuels continues to increase at a steady pace, forcing market participants in the oilfield and gas exploration industries to look beyond readily-available and easily-accessible sources in order to remain competitive. This activity fuels a multiple billions of dollars of growth in related industries, as businesses spring up to supply and support oil and gas exploration. With premium market research from the world's leading publishers, Global Information Inc. helps businesses stay ahead of the curve with the best forecasts, research, and analyses.
Intertek, a leading provider of quality and safety services to a wide range of industries around the world, has expanded its facilities, capabilities and expertise to better serve the growing demand for technical services and expertise supporting the oil & gas industry in Trinidad and Tobago.
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