Fredriksen's private investment vehicle Seatankers bought the new West Mira rig from the Hyundai Samho Heavy Industries Shipyard for an undisclosed sum just one week ago, Reuters reported.
Eni and Total are in a consortium for one of the blocks and ExxonMobil and Qatar Petroleum have joined up for another. Eni will be on its own in a third block. The blocks were offered in the third licensing round held by Cyprus, Reuters reported.
The technology is described by EVTN as a cost effective method to efficiently separate large volumes of solids and liquids—such as oil, water and sand—with different specific gravities without the need of a pressure drop.
Gordon Birrell, who previously headed BP in Azerbaijan, will become COO for production, transformation and carbon in the BP upstream segment, reporting to Looney. Andy Krieger will become the new head of drilling. Krieger, previously vice president for drilling in the Gulf of Mexico, will report to Birrell.
Amec Foster Wheeler investors will receive 0.75 new Wood Group shares for each share held, the company said. They will own 44% of the merger group but Wood Group executives will take the top jobs.
As part of the deal, Ineos is taking over Engie's entire U.K. onshore exploration license portfolio that consists of interests in 15 licenses including seven in which Ineos had a previous participation, Reuters said.
After years of decline, U.K. production is expected to rise for a third consecutive year in 2017 to between 680 MMboe and 690 MMboe due to projects coming onstream that were approved before the oil price collapsed, Reuters reported.
Valve-control systems maker Rotork Plc posted an 8% rise in full-year revenue and said it would benefit from U.S. President Donald Trump's move to encourage shale and pipeline activity and investment in infrastructure.
CEO Graham Stewart said 2016 was a “transformational” year as the company acquired a Norwegian portfolio of producing assets from DONG that doubled group production, the material Brasse discovery in Norway, and a successful 66 million pound equity raise.
Total CEO Patrick Pouyanne said Total was benefiting from a drive to push its production costs down to $5.9 per barrel of oil equivalent (boe), compared with $9.9/boe in 2014, and from savings of $2.8 billion in 2016, beating its target of $2.4 billion.