Liebherr extends its range of heavy lift offshore cranes with the CAL 64000 – 1500 Litronic®
The heavy lift offshore crane, type CAL 64000 – 1500 Litronic®, specially developed by Liebherr for the company BELUGA HOCHTIEF Offshore, will be applied from 2012 on the INNOVATION, a special jack-up vessel for the quicker assembly of offshore wind power stations. With this innovative jack-up vessel assembly and maintenance …
Polarcus Limited launches convertible bond offering USD 125 million 2016
Polarcus Limited is pleased to announce that the Company intends to issue USD 125 million in principal amount of Senior Secured Convertible Bonds (the “Bonds”) with a five-year tenure. The purpose of the Bonds is to finance the acquisition and completion of POLARCUS SELMA, an ultra-modern and Arctic-ready 8 streamer …
Tethys Petroleum Limited announces organisational changes
Tethys Petroleum Limited today announced certain organisational changes within the Company. The Company is pleased to announce the appointment of Mark Sarssam as Vice President Petroleum Development, based in the Company’s new operations and technical office in Dubai, UAE. Marks appointment will strengthen the technical department at a time when there …
Gazprom Neft negotiates an interest rate reduction on its $1.5 billion loan
Gazprom Neft has signed an agreement to reduce the interest rate from Libor +2.1% to Libor +1.6% per annum on its $1.5 billion syndicated loan that it secured in 2010. The agreement to provide a five-year $1.5 billion secured loan was concluded on 30 June 2010. The Bank of Tokyo-Mitsubishi …
KMG EP announces acquisition of four contracts for exploration of hydrocarbons
JSC KazMunaiGas Exploration Production today announces agreements reached with the JSC National Company KazMunayGas (“NC KMG”) to acquire four hydrocarbon exploration contracts. As per the agreement, KMG EP acquires the following four contracts: Temir, Teresken, Karaton-Sarkamys and the territory adjacent to Uzen and Karamandybas. Temir and Teresken blocks are located in the …
BP Rosneft share swap prohibited
BP announced today the arbitral tribunal has ruled that the interim injunction prohibiting closing of the share swap transaction with Rosneft will remain in place until further notice. However BP is now able to discuss the possibility of an extension of the April 14 deadline under which the share swap …
KMG EP announces operating results for the 1Q11
JSC KazMunaiGas Exploration Production (KMG EP or the Company), announces that according to preliminary data in the first three months of 2011 it produced 3,172 thousand tonnes of crude oil (259 kbopd) including the Company’s stakes in Kazgermunai (KGM), CCEL, PetroKazakhstan Inc. (PKI) and NBK LLP (NBK), which is 11 thousand tonnes or 0,3% …
Polarcus receives Letter of Award for 3D seismic acquisition
Polarcus Limited (OAX: PLCS) is pleased to announce that the Company has received a Letter of Award for a 3D offshore seismic acquisition project for an undisclosed client. The project, to be acquired by POLARCUS NAILA and subject to the execution of a service contract, will commence in Q4 2011 …
KMG EP reappoints Askar Balzhanov as the Chief Executive Officer
JSC “KMG EP” (“KMG EP” or the “Company”) announced that at anextraordinary meeting of the Board of Directors held today, Askar Balzhanov was elected GeneralDirector (CEO). The main shareholder of KMG EP – National Company KazMunaiGas (KMG) – proposed thereplacement of Kenzhebek Ibrashev, due to his transfer to another important …
Production Output at the Vankor Field Reaches 20 Million Tonnes
The 20-millionth tone of crude oil was extracted from the depths of the Vankor oil field in Russia’s Krasnoyarsk region. Currently Vankor produces 39 thousand tons of crude oil per day. According to Vankorneft’s business plan, in 2011, production from the field will reach 14.8 million tons. This year, plans …