Tag: BP

BP will forge ahead with at least three more new projects this year, its CEO said, despite the British oil major reporting a 45 percent drop in second-quarter earnings that prompted a cut in its 2016 investment budget to below $17 billion.

Petrofac, a leading provider to the oil & gas industry with American branches in Mexico City and Houston, Texas, has been awarded a Duty Holder contract from BP to support the late life management of the Miller platform, located in the Central North Sea.

BP announced that it plans to invest over USD 200M to upgrade its purified terephthalic acid (PTA) plants at Cooper River, South Carolina and Geel, Belgium. The investments will position these assets amongst the most efficient PTA manufacturing facilities in the world.

BP has awarded Jacobs Engineering Group with a contract to provide engineering, design and procurement services for the Coker Heater Replacement project at the BP Cherry Point Refinery in Blaine, Washington.

Noble Energy has reached an agreement with BP Exploration & Production to acquire 50% of BP's interest in 17 deepwater exploration leases in the Gulf of Mexico. Each of the leases resides in the Atwater Valley protraction area, with Noble Energy acquiring a 50% working interest in 13 leases and an average 26% working interest in 4 leases.

BP is selling four of its oilfields, located on the North Slope of Alaska, to the exploration company Hilcorp. The sale agreement includes all of BP’s interests in the Endicott and Northstar oilfields and a 50 percent interest in each of the Liberty and the Milne Point fields.

BP named Richard Herbert as its new head of exploration. Herbert will succeed Mike Daly who has chosen to retire from BP at the end of 2013 after a career of 28 years with the company, eight leading BP’s exploration function.

BP has announced plans to invest USD 1B over the next five years at its Alaskan operations for adding two new drilling rigs to its exploration of the North Slope.

Helix Energy Solutions Group, Inc. announced that it has entered into a five-year contract with BP to provide well intervention services to BP in the US Gulf of Mexico with Helix’s deepwater well intervention semisubmersible vessel, the Q5000, currently being constructed in Singapore.

BP has completed a successful flow test of the Itaipu-1A discovery well offshore Brazil. The drill stem test was the latest activity in the ongoing appraisal program at the BP-operated Itaipu discovery.