BP Standardizes on Schlumberger Technology for New Global Software Platform
Schlumberger announced today that the Petrel* E&P software platform will support BP’s new digital technology roll out. The first deployment of the two-year global implementation has been successfully completed for staff at the company’s business unit in Aberdeen, Scotland. “The Petrel platform is replacing an existing software toolkit to help …
BP: Loses Bid to Reduce Macondo Civil Fine
BP has lost its bid to reduce the maximum civil fine of $13.7bn (£8.9bn) it could face for its role in the 2010 Gulf of Mexico oil spill. A US judge rejected BP’s appeal to pay a cap of $3,000 per barrel under the country’s Clean Water Act. Government prosecutors …
BP: Global Energy Outlook 2035: Growing Gas and Shifting Flows
Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia – particularly in China and India – will drive continued growth in the world’s demand for energy over the next 20 years. According to the new edition of the BP Energy Outlook 2035, global demand for …
BP and SOCAR Sign Absheron PSA
BP and SOCAR (the State Oil Company of the Republic of Azerbaijan) today signed a new production sharing agreement (PSA) to jointly explore for and develop potential prospects in the shallow water area around the Absheron Peninsula in the Azerbaijan sector of the Caspian Sea. This new agreement is part …
Shawcor: Awarded Second Contract Worth $200m USD for Shah Deniz Stage 2
ShawCor Ltd. today announced that its Bredero Shaw pipe coating division has received a second contract with a value of approximately US$200 million from BP Exploration (Shah Deniz) Limited for pipeline coating for the Shah Deniz Stage 2 development project. The contract is scheduled to be executed at the Caspian …
BP: New Core Flood Robot Enhances Oil Recovery Techniques
BP announced today that it is now operating the world’s first robotic coreflooding system. The Core Flood Robot is the most recent addition to BP’s programme of enhanced oil recovery (EOR) research facilities. Coreflooding is one of the most important techniques used to identify and evaluate EOR technologies. It measures …
Emerson: BP Awards $40m USD Shah Deniz 2 Automation Contract
BP has awarded Emerson Process Management, a global business of Emerson, a contract in excess of US$40 million to be the Main Automation Contractor for the Shah Deniz Stage 2 development project in the Azerbaijan sector of the Caspian Sea. Emerson will provide integrated control and safety systems to help …
BP: Statement on Gulf of Mexico
BP strongly disagrees with the decision issued today by the United States District Court for the Eastern District of Louisiana and will immediately appeal to the United States Court of Appeals for the Fifth Circuit. BP believes that the finding that it was grossly negligent with respect to the accident …
Halliburton Pays $1.1bn to Cover Macondo Well Settlement
Halliburton announced that it has reached an agreement to settle a substantial majority of the plaintiffs’ class claims asserted against the company as a result of the April 20, 2010 Macondo well incident in the Gulf of Mexico. The approximately $1.1 billion settlement, which includes legal fees, is subject to approval …
BP Reports Second Quarter 2014 Results
BP today announced its financial results for the second quarter of 2014. Underlying replacement cost profits for the quarter of 2014 was $3.6 billion, 34% higher than the $2.7 billion reported for the same period in 2013 and 13% higher than the $3.2 billion result for the first quarter of …