Yermak Neftegaz: Formed By BP and Rosneft to Explore the Yenisey-Khatanga Basins
Rosneft and BP have today signed final binding agreements to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation. The document was signed at the XX St. Petersburg International Economic Forum (SPIEF) by Rosneft CEO Igor Sechin …
SOCAR: Signs MOU with BP for Block D230 in the North Absheron Basin
SOCAR and BP signed a memorandum of understanding (MOU) to jointly explore potential prospects in block D230 in the North Absheron Basin in the Azerbaijan sector of the Caspian Sea. On this occasion, the companies made following announcement:As part of the government’s plan to ensure that all of Azerbaijan’s offshore …
BP: Q1 Results – Strong Operation Performance, Cost Reductions on Course
BP today reported its results for the first quarter of 2016. Underlying replacement cost profit1 for the quarter was $532 million, compared with $196 million for the previous quarter and $2.6 billion for the first quarter of 2015. Compared with the previous quarter, lower costs throughout the Group more than …
Aker Solutions to Provide Global Subsea Engineering Services to BP
Aker Solutions secured a global framework agreement to deliver engineering and project management services at BP-operated subsea oil and gas fields. The contract has a fixed period of five years and may be extended by two years. It covers subsea engineering services, asset integrity management and operations support. “We are …
BP Energy Outlook: Transition to a lower carbon future
Despite current weakness in global energy markets and the slowdown in China’s growth, demand for energy will continue to grow over the next 20 years and beyond as the world economy expands and more energy is required to power the higher level of activity. According to the 2016 edition of …
BP Realigns Senior Executive Team
BP today announced the appointment of Lamar McKay to the new position of Deputy Group Chief Executive. McKay, currently chief executive of BP’s Upstream segment and a 35-year veteran of BP, will be based in London and take up the role following a suitable handover period. McKay will be succeeded …
BP Reports Full Year and 4Q 2015 Results: Dividend Remains Unchanged
BP today reported its results for the full year and fourth quarter of 2015. Underlying replacement cost profit1 for the full year was $5.9 billion, compared with $12.1 billion reported for 2014, down 51%. The underlying result for the fourth quarter was $196 million compared with $2.2 billion for the fourth …
KCA Deutag: Wins $1bn All Option Contract from BP in Azerbaijan
Leading global drilling and engineering contractor, KCA Deutag, today announces that it has been awarded two contracts with BP Exploration (Caspian Sea) Limited (“BP”). These contracts have a combined value of approximately $360m for the initial contract or $1bn including all options. The first contract has been awarded to our …
BP: Purchases 20% of Taas-Yuryakh Neftegazodobycha LLC from Rosneft
Rosneft and BP announce the completion of the transaction to sell a 20 per cent share of Taas-Yuryakh Neftegazodobycha LLC to the British company. The joint venture between Rosneft and BP based on Taas-Yuryakh Neftegazodobycha LLC will continue further development of the Srednebotuobinskoye oil and gas condensate field which is …
BP Study Sees Technology Boosting Energy Supplies, Providing Path to Lower Carbon Future
BP Technology Outlook predicts secure and sustainable energy future through application of existing and new technologies Advances in technology will keep energy supplies plentiful and affordable – enough to meet projected demand many times over — and help pave the way to a lower carbon energy mix, according to data …