Bp Exploration News

A federal appeals court on Wednesday revived a fight between BP, two contractors, and an insurance company over who should pay for thousands of personal injury claims brought by cleanup workers after the Deepwater Horizon explosion and fire in 2010.The 5th U.S. Circuit Court of Appeals reversed most of a lower court’s rulings for contractors National Response Corp and O’Brien’s Resource Management, and for O’Brien’s excess-liability insurer, Navigators Insurance Co.The decision was not a complete win for BP, however.

Overseas Shipholding Group, the tanker company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets, has entered into agreements with BP Oil Shipping Company USA and BP AMI Leasing to purchase the crude oil carrier vessels operated by Alaska Tanker Company (ATC).OSG currently owns a 37.5% interest in ATC. As part of the above transaction, OSG will acquire the remaining 62.5% interest of ATC that it does not own.According to the publicly traded tanker company, the agreements provide for deposits equal to 20% of the purchase price to be paid upon their execution, with the balance of the consideration to be paid at closing.Closing of the purchases is subject to various conditions…

Offshore support vessel company Topaz Energy and Marine informs it has secured 14 offshore support vessel contracts with BP Exploration (Caspian Sea) Limited. Under the terms of the agreement, Topaz will supply 14 offshore support vessels for a five-year period plus two one-year options at current market terms, primarily in support of BP’s ACG and Shah Deniz II fields offshore Azerbaijan. The agreement extends currently running contracts for the 14 vessels until 2023 including all options. These contracts bring Topaz’s global revenue backlog to nearly $1.4 billion.

Topaz Energy and Marine, a leading offshore support vessel company, has secured 14 offshore support vessel contracts with BP Exploration (Caspian Sea) Limited ("BP"). Under the terms of the agreement, Topaz will supply 14 offshore support vessels for a five year period plus two one-year options at current market terms, primarily in support of BP’s ACG and Shah Deniz II fields offshore Azerbaijan. The agreement extends currently running contracts for the 14 vessels until 2023 including all options. These contracts bring Topaz’s global revenue backlog to nearly US$1.4bn and demonstrates the company’s competitiveness in the Caspian market.

Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win strong support from repeat customers by securing four contracts worth a total of about S$125 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) secured two conversion contracts - the first is for a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage Limited, a wholly-owned subsidiary of Bumi Armada Berhad (Bumi Armada); the second is for a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad. Work on the LNG FSU conversion for Bumi Armada is scheduled to be completed in 3Q 2016.

Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win support from repeat customers by securing four contracts worth a total of about $88.5 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) secured two conversion contracts - the first is for a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage Limited, a wholly-owned subsidiary of Bumi Armada Berhad (Bumi Armada); the second is for a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad. Work on the LNG FSU conversion for Bumi Armada is scheduled to be completed in 3Q 2016.

Maersk Drilling has been awarded a 5-year contract extension for the semi-submersible Heydar Aliyev rig with BP Exploration (Shah Deniz) Limited acting as Operator of  the Shah Deniz field . The rig will continue working on the development of the Shah Deniz field in the Caspian Sea offshore Azerbaijan. The extension is in direct continuation of the current contract ending May 2016 and extends the contract until May 2021. The estimated value of the contract extension is up to USD 523m. “We are very pleased with the extension for the Heydar Aliyev rig and look forward to continue our long standing cooperation with BP,” says Claus V. “With this contract we continue to build our contract backlog providing further revenue visibility.

Transocean Ltd. announced that it has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (the "PSC") and with BP Exploration & Production Inc. and BP America Production Co. ("BP"). These settlements together resolve substantially all outstanding claims against Transocean arising from the April 20, 2010, Macondo Well incident involving the Deepwater Horizon in the Gulf of Mexico. Under the terms of the agreement with the PSC, which is subject to approval by the U.S. District Court for the Eastern District of Louisiana (the "Court"), Transocean will pay two classes of plaintiffs, represented by the PSC, a total of  approximately $212 million. Transocean will also pay attorneys' fees to be determined by the Court.

Technip was awarded by BP Exploration & Production Inc. a lump sum project for the design, engineering, fabrication, installation and pre-commissioning of the new production pipeline systems on the south side of the Thunder Horse production drilling quarters unit. At a water depth of approximately 1,900 meters, the current field development is located in Mississippi Canyon Blocks 778 and 822, in the ultra-deepwater Gulf of Mexico environment.  Pre-commissioning and testing. Technip will leverage its unique integrated approach in the subsea business. Technip's operating center in Houston, Texas, USA, will perform the overall project management. The infield flowlines will be welded at the Group’s spoolbase in Mobile, Alabama, USA.

Exxon Mobil Corporation announced today that its subsidiary, Esso Exploration Angola (Block 15) Limited (Esso Angola), has started oil production ahead of schedule at the Kizomba Satellites Phase 2 project offshore Angola. Kizomba Satellites Phase 2 is a Block 15 subsea infrastructure development of the Kakocha, Bavuca and Mondo South fields. Mondo South is the first field to begin production, and the other two satellite fields are expected to start up in the coming months. The project develops approximately 190 million barrels of oil with peak production currently estimated at 70,000 barrels of oil per day. The project is expected to increase total daily Block 15 production to 350,000 barrels. Esso Angola is operator of the project and Block 15.

It may be months before a final verdict is issued on the size of the fine BP Plc will pay under the Clean Water Act for its 2010 Gulf of Mexico oil spill, lawyers said on Tuesday after the last phase of the trial ended. U.S. District Court Judge Carl Barbier in New Orleans, Louisiana, is scheduled to receive post-trial briefs from government prosecutors and BP through April 24. Barbier might rule before then although a decision after all briefs are filed is more likely, the lawyers said.

BP Plc, citing low oil prices, tried to whittle away at $13.7 billion in potential fines under the Clean Water Act on Tuesday as the penalty phase started in its trial over the 2010 Gulf of Mexico oil spill. BP said its fine should be modest as it took extensive steps to mitigate the worst offshore disaster in U.S. history and that the defendant named in the case, BP's exploration and production unit, known as BPXP, cannot afford a big penalty. "There has been no collapse of the ecosystem," BP lawyer Mike Brock said in opening statements, contending that the Gulf has been more resilient than thought. Environmental groups say it could take decades for the Gulf to recover.

Subsea 7 S.A. (Oslo Børs: SUBC) today announced the award of a three-year US$160 million contract extension by BP Exploration & Production Inc. for light subsea construction, inspection, repair and maintenance services in the US Gulf of Mexico. The contract will run from the second quarter 2014 to the third quarter 2017. The scope covers the provision of two vessels, including a dedicated vessel on a full-time basis, associated project management and engineering support, ROV-based inspection and intervention, and light construction work. One of the vessels to be utilised in the contract is a new-build offshore subsea construction vessel while the other is a light construction vessel. Both vessels will be chartered on a long-term basis.

Keppel supported Baku Shipyard has won a first major contract from BP Exploration (Shah Deniz) Ltd, the operator of the Shah Deniz gas field development, to design and build a Subsea Construction Vessel (SCV). The contract is worth US$378-million, say the shipyard. When completed, the SCV will be deployed for the Stage 2 development of the Shah Deniz field, which lies some 70 kilometres offshore in the Azerbaijan sector of the Caspian Sea. The Shah Deniz Stage 2 project requires a subsea installation vessel to install the subsea structures over 11 years between 2017 and 2027. The vessel will include dynamic positioning to allow for work in 2.5 metres significant wave height (Hs)…

The Environmental Protection Agency (EPA) and BP today executed an agreement resolving all suspension and debarment actions against BP that barred the company from doing business with the federal government following the company’s guilty plea in the Deepwater Horizon disaster of April 2010. The administrative agreement will be in place for five years. “This is a fair agreement that requires BP to improve its practices in order to meet the terms we’ve outlined together,” said Craig Hooks, assistant administrator for EPA's Office of Administration and Resources Management.

Companies operating in the marine science and ocean technology have only one more month to submit an abstract for next year’s Oceanology International 2014 conference. Taking place at London ExCeL between Tuesday and Thursday, March 11 and 13, 2014, the next Oceanology International is due to be the busiest of its series, with already 86.6% of exhibition spacebooked and eightone-day conference programs taking place alongside three new panel discussions. Professor Ralph Rayner is again the overall conference chairman, and that many key players in the relevant sectors have agreed to chair a program in their area of expertise. Dr. Professor Michael Bruno, Dean, Stevens Institute of Technology, U.S. Justin Crump, CEO, Sibyline Risk and Security Consultancy, U.K.

Island Offshore has been awarded a major contract extension with BP Exploration Operating Company Ltd. The two-year contract extension, covering 2014 and 2015, has been awarded to Island Offshore and the North Sea RLWI Alliance, which operates three monohull vessels specially designed for well intervention tasks. Island Offshore’s Island Constructor - a 120m long, 8,200 ton, Ulstein built X-Bow vessel – will perform the scope of work for the client. The value of the new contract is approximately $86.5 million (USD) and includes options for $129.8 million (USD).

Transocean pleads guilty, sentenced to pay $400-million in penalties for criminal conduct leading to the disaster. Transocean Deepwater Inc. has pleaded guilty to a violation of the Clean Water Act (CWA) for its illegal conduct leading to the 2010 Deepwater Horizon disaster, and was sentenced to pay $400 million in criminal fines and penalties, Attorney General Holder announced. In total, the amount of fines and other criminal penalties imposed on Transocean are the second-largest environmental crime recovery in U.S. history – following the historic $4 billion criminal sentence imposed on BP Exploration and Production Inc. in connection with the same disaster.

Crowley Maritime subsidiary Titan Salvage appoint Michael G. Johnson Vice-President of Business Strategy & Process. Johnson will report to TITAN’s Managing Director Rich Habib, and will be domiciled in the company’s Houston office. In his new role, he will be responsible for assisting with the administration and running of TITAN, focusing on strategic issues to help further grow the business. “It is very exciting for us to have Michael on our team, especially during a time of continued growth and international expansion in our company,” said Habib.

John Mingé, Regional President BP Alaska, appointed Chairman/President of BP Americas Inc., succeeded by Janet Weiss. John Mingé, has served as head of BP’s Alaska business since January 1, 2009. He will be based in Houston, where he will serve as BP’s lead representative in the US. “BP’s history in Alaska stretches back more than five decades and it is one of the largest and most important businesses in BP’s global portfolio,” Mr. Mingé said. Ms. Weiss serves currently in Alaska as Regional Vice President, Resources, accountable for resource progression and subsurface activities, as well as for IT. In her new role, she will be responsible for BP's oil and gas exploration, development and production activities in Alaska, as well as its interests in the Trans-Alaska oil pipeline.

Emerson will be BP’s preferred supplier of integrated control and safety systems for five offshore fields in the U.K. continental shelf, including the new Clair Ridge platforms and the Quad 204 floating production, storage and offloading vessel. Emerson’s selection as contractor of choice builds on an earlier agreement in which the company was named a Main Automation Contractor for BP projects globally. By standardizing on a single contractor for its North Sea region, BP expects to gain significant benefits including efficient project execution, training, maintenance and support. Emerson will provide a wide range of services for control and safety systems, from front-end engineering and design to installation, testing and support.

Keppel and Floatel sign contract for a fourth accommodation semi at US$ 315-million. Keppel FELS Limited and Floatel International Ltd (Floatel) have finalised a contract for Keppel FELS to build a new generation harsh environment accommodation semisubmersible. With delivery in early 2015, the new semi will be built to the Floatel Superior design, a DSSTM 20NS design developed by GustoMSC and Keppel FELS' Deepwater Technology Group. Equipped with Dynamic Positioning (DP) 3 capability, it will meet the most stringent rules and regulations for worldwide operations including the Norwegian Sector.

BP Exploration and Production Inc. Agrees to Plead Guilty to Felony Manslaughter, Environmental Crimes and Obstruction of Congress Surrounding Deepwater Horizon Incident; BP Agrees to Pay a Record $4 Billion in Criminal Fines and Penalties Two Highest-Ranking BP Supervisors on Deepwater Horizon Oil Rig Charged with Manslaughter and Former Senior BP Executive Charged with Obstruction of Congress. BP Exploration and Production Inc. (BP) has agreed to plead guilty to felony manslaughter, environmental crimes and obstruction of Congress and pay a record $4 billion in criminal fines and penalties for its conduct leading to the 2010 Deepwater Horizon disaster that killed 11 people and caused the largest environmental disaster in U.S. history, Attorney General Eric Holder announced today.