Dominion to Sell Offshore E&P Ops for $4.7B
Dominion agreed to sell its offshore natural gas and oil exploration and production operations to Eni Petroleum Co. Inc., a subsidiary of Italian energy company Eni, for approximately $4.76 billion. These operations include approximately 967 billion cubic feet equivalent of proved natural gas and oil reserves in the Gulf of Mexico shelf and deep water as of Dec. 31, 2006, with 2006 average daily production of approximately 503 million cubic feet equivalent. "Today’s announcement is a significant step in Dominion’s previously announced strategic plan to refocus on the power generation and energy distribution, transmission, storage and retail businesses," said Chairman, President and CEO Thomas F. Farrell II.
Finalists Named for DOI’s 2006 Safety Awards for Excellence (SAFE)
Fifteen offshore energy companies have been named national finalists for the Department of the Interior’s 2006 Safety Awards for Excellence (SAFE) competition. Sponsored by the Minerals Management Service (MMS), the SAFE awards are presented annually to Outer Continental Shelf (OCS) oil and gas operators and contractors who achieve excellence in safety and pollution prevention. Established in 1983, the SAFE Awards recognize and honor companies making concerted efforts to train and motivate their employees to conduct offshore operations in a safe and environmentally responsible manner. The SAFE Award is presented annually to offshore…
