2H Offshore Adds to Management Team

- 2H Offshore Adds to Management Team

Tuesday, September 06, 2011
Aceton Group Ltd.

2H Offshore announced two new appointments. Tim Eyles becomes the managing director of the 2H Offshore group of companies. He will also continue to share the running of 2H Offshore's engineering office in Woking, UK.

At the same time, David Walters, joint leader of the company's Houston, USA, office, has been added to the 2H Offshore global management team as a principal director.

Eyles and Walters joined 2H Offshore in 1998 and 1997 respectively, both directly after graduating from the University of Surrey, UK.

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TGS, Fugro Team Up in Greenland Survey

- TGS, Fugro Team Up in Greenland Survey

Tuesday, September 06, 2011
TGS-NOPEC Geophysical Co. ASA

TGS has commenced a new 1,000 km multi-client 2D survey in Northeast Greenland in partnership with Fugro.

This survey will enable customers to prepare for the announced Greenland Licensing Round in 2012/2013 and will significantly add to a data set that TGS has been growing since 2008 in this promising region. After this year's data acquisition, TGS will be able to offer approximately 4,500 km of new multi-client 2D data, a large volume of reprocessed multi-client 2D data and full coverage of aeromagnetic/gravity data over the basins that are to be included in the planned licensing round.

The new seismic data is being acquired by the M/V Akademik Shatskiy supported by the ice breaker M/V Fennicia and is scheduled to complete during 4Q 2011. Data processing will be performed by TGS and data will be available to clients during 1Q 2012.

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Exxon Mobil and Rosneft Team Up

- Exxon Mobil and Rosneft Team Up



Aug 30, 2011

Exxon Mobil (NYSE:XOM) and Rosneft teamed up with U.S. company ExxonMobil to develop Russian Arctic oil fields, that had eluded BP earlier this year.

Rustam Kazharov, a spokesman for Rosneft told the Associates Press the deal was signed Tuesday in the presence of Russia's Prime Minister Vladimar Putin.

Rosneft struck a deal with BP in January to jointly increase Russia's Arctic but the deal fell through after BP's Russian shareholders managed to block the deal.

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GL Noble Denton Adds Member to Management Team

- GL Noble Denton Adds Member to Management Team

Monday, August 22, 2011
GL Noble Denton

GL Noble Denton has appointed Peter Russell-Smith to its Management Team as Executive Vice President for Business Development, General Manager.

A qualified engineer and certified management accountant, Peter brings considerable energy industry and business consultancy experience to GL Noble Denton, where he will play a lead role in developing the company's product and service offerings, business development activity and management systems during a period of significant growth.

Peter joins GL Noble Denton from global engineering software provider Intergraph, where he was Senior Vice President for the Asia Pacific region. He has also held international leadership positions at Hewlett Packard and PricewaterhouseCoopers, where he fostered successful business expansion in the divisions for which he was responsible.

Commenting on Peter's appointment, GL Executive Board Member Pekka Paasivaara said, "We are delighted to welcome Peter to the GL Noble Denton Management Team. He has a strong track record in managing business growth, and will make a significant contribution to expanding the company's global operations and client base.

"GL Noble Denton continues to experience exceptional demand for its services, particularly from our growing portfolio of clients in Asia,
Australia, West Africa and the Middle East, where the sector is looking to develop complex oil and gas infrastructures quickly to address rapid growth in the demand for energy. Peter's role will be particularly crucial in helping us further develop business opportunities across the globe."

Added Peter, "This is an exciting time to be joining GL Noble Denton. The company has a strong reputation for providing expert technical
advice and software solutions to the oil and gas industry's elite, and the company is in an excellent position to continue to take advantage of a rapidly expanding market."

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Wireless Seismic Strengthens Seismic Team

- Wireless Seismic Strengthens Seismic Team

Thursday, August 18, 2011
Wireless Seismic

Wireless Seismic announced the hiring of Travis Bird and Scott Williams to the newly-created positions of Chief Financial Officer and Sales Director/Americas respectively and the relocation of its corporate headquarters to Sugar Land, Texas, located just outside of Houston - the Energy Capital of the World. Wireless Seismic is the developer of an innovative wireless seismic data acquisition system with real-time data return.

"We are delighted to add Travis and Scott to our team," said Roy Kligfield, Wireless Seismic's President and Chief Executive Officer. "They bring the perfect combination of financial acumen, business strategy and industry knowledge that will be an invaluable addition to our company as we ramp-up the commercial launch of RT 1000 - our revolutionary seismic data acquisition system."

Prior to joining Wireless Seismic, Travis Bird served as Director, Corporate Development, at Novatek, Inc., a company that develops technologies for the oil and gas, construction and mining industries. In this role, Bird drove business strategy through the successful realization of multiple mergers and acquisition transactions. Bird has held executive financial roles with several emerging growth organizations. Before Novatek, he served as CFO of NovaDrill, Inc., a technology company that develops drilling tools for the oil and gas exploration and procurement industry. Bird drove financial strategies for NovaDrill through to its successful acquisition. He also worked at the global business services firm Ernst & Young, LLC in Los Angeles where he led engagement teams in providing corporate audit services to public and private businesses across multiple industries. Bird is a licensed CPA.

Scott Williams served as Vice President Sales for Guralp, a United Kingdom-based equipment manufacturer, prior to joining Wireless Seismic. Williams previously held positions as Regional Manager, United States and Latin America Sales, for INOVA Geophysical as well as Global Business Development Manager and Technical Sales Manager, Land Imaging Division, for ION Geophysical. Williams began his career as a surveyor and seismic observer before working his way up through the ranks to a regional field service manager. Scott also gained experience in managing electronic manufacturing operations.

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Noble, CONSOL Team Up in $3.4B Marcellus JV

- Noble, CONSOL Team Up in $3.4B Marcellus JV

Thursday, August 18, 2011
Noble Energy Inc.

Noble Energy has signed definitive agreements which create a joint venture partnership with CONSOL for the development of their Marcellus Shale properties in southwest Pennsylvania and northwest West Virginia.

Under the arrangement, Noble Energy will purchase a 50 percent interest in 663,350 net undeveloped acres for $1.07 billion, payable in three equal annual installments beginning at closing. In addition, the Company will fund $2.13 billion of CONSOL's future drilling and completion costs. This funding obligation is expected to extend over an eight-year period and is limited to one third of CONSOL's drilling and completion costs with an annual cap of $400 million and a suspension of disproportionate funding at natural gas prices below $4 per million British thermal unit (MMBtu). The acreage value of $3.2 billion equates to a discounted present value of $7,100 per net acre. Noble Energy will also acquire a 50 percent interest in 70 million cubic feet equivalent per day (MMcfe/d) of existing Marcellus production and infrastructure for $219 million. The payments are anticipated to be funded from cash on hand and the Company's currently undrawn revolving credit facility. The effective date of the transaction is July 1, 2011. Closing is expected to occur by the end of September 2011, subject to customary adjustments and conditions.

Key operational aspects of the joint venture include:

• Acreage estimated to contain 7.4 trillion cubic feet equivalent (Tcfe) risked resources net to Noble Energy's interest, of which 400 billion cubic feet equivalent (Bcfe) were proven reserves at year-end 2010
• More than a decade of development activity anticipated, which includes the drilling of approximately 4,400 gross well locations
• Net production to Noble Energy's interest has the potential to reach 600 MMcfe/d in 2015 and is expected to continue growing into the next decade
• Leasehold position is over 85 percent held by production, almost entirely operated with close to 100 percent working and 88 percent net revenue interests
• A pre-defined long-term development plan forecasts drilling activity to increase from 4 rigs to 16 rigs in 2015
• Operations to be shared between the partners with Noble Energy's initial focus on the wet gas portion of the acreage
• Sharing of midstream infrastructure and access to water handling capabilities

Charles D. Davidson, Noble Energy's Chairman and CEO, commented, "Noble Energy is excited about the opportunity to establish a position in the Marcellus Shale, which is considered to be one of the most economically attractive developments in North America due to its enormous resource potential, its proximity and access to premium markets, and its competitive cost structure. This transaction will complement and further strengthen our U.S. portfolio by adding a high-quality asset with a substantial growth profile. The Marcellus, combined with our ongoing developments in the DJ basin and deepwater Gulf of Mexico, will provide important balance to our rapidly expanding international programs. Spreading the transaction costs over an extended time horizon creates better partner alignment on investment decisions and maintains our strong balance sheet."

David L. Stover, President and COO, added, "Noble Energy is fortunate to be partnering with CONSOL, a well-known and respected Appalachian operator. The joint oversight and operations are designed to create value through the sharing of best practices and expertise. Both companies are committed to operating in a safe, environmentally responsible manner while maintaining a good working relationship with the local communities."

J. Brett Harvey, CONSOL's Chairman and CEO, commented, "We are extremely pleased to have Noble Energy as our partner in the Marcellus. Noble Energy is a world-class operator that shares CONSOL's dedication to safety and compliance and they bring a strong technical and operational expertise to this partnership. This agreement will benefit the regional economy, the communities in which we operate, our employees, and our respective companies. Together we will be able to accelerate the development of this significant resource safely, efficiently and economically."

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Foster Wheeler, SOCAR Team Up to Form New Company

- Foster Wheeler, SOCAR Team Up to Form New Company

Thursday, July 14, 2011
Foster Wheeler AG

Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group has signed a Memorandum of Understanding (MoU) to cooperate to form a jointly-owned company with The State Oil Company of Azerbaijan Republic (SOCAR) in the Republic of Azerbaijan.

SOCAR is a state-owned company engaged in the fields of oil and gas exploration, production, transportation and marketing and intends to build an oil, gas processing and petrochemical complex in Garadag, Republic of Azerbaijan.

The new jointly-owned company will focus on providing process, engineering, procurement, construction supervision and project management services associated with the development of the new oil, gas processing and petrochemical complex.

The new entity will provide the same services for upstream, midstream and downstream oil and gas projects developed by SOCAR both in the Republic of Azerbaijan and in other countries.

In line with the principles outlined in the MoU, Foster Wheeler and SOCAR will prepare a joint action plan for the establishment and incorporation of the new company, with its headquarters in Baku.

"Foster Wheeler and SOCAR already have a strong working relationship, including cooperation for the design of the Aegean oil refining facility in Turkey for SOCAR and its joint-venture partner," said Umberto della Sala, Interim Chief Executive Officer, Foster Wheeler AG. "We are very pleased to sign this MoU, which signals our commitment to Azerbaijan and which will take our relationship with SOCAR to a new level. Foster Wheeler will bring to the new joint company its worldwide organization resources, technical expertise and international project execution capability on all of SOCAR's key business areas."

"We consider Foster Wheeler one of the most respected companies in the world and we very much look forward to the formation of this new joint-venture company," added Rovnag Abdullayev, President, SOCAR. "We are confident that Foster Wheeler will be able to inject into the new entity its proven know-how and its recognized capability to deliver successful projects."

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Repsol, Alliance Oil Team Up in Russian JV

- Repsol, Alliance Oil Team Up in Russian JV

Monday, June 20, 2011
Alliance Oil Co.

Repsol and Alliance Oil have signed a Memorandum of Understanding to form a joint venture that will serve as a growth platform for both companies in the Russian Federation, the world's largest oil and gas producer.

Alliance Oil will hold a 51% stake in the joint venture and contribute producing assets in the Volga-Urals Region while Repsol will own the remaining 49% and make an initial cash investment to finance future growth opportunities.

The agreement seeks to combine Alliance Oil's knowledge and privileged access to Russian exploration and production business opportunities with Repsol's know-how and technical capabilities to create a long-term exploration and production alliance.

In addition to the exploitation of the assets to be contributed by Alliance Oil, the agreement includes seeking opportunities for exploration and growth through producing assets in the Russian Federation.

"This cooperation with Alliance Oil enables Repsol to increase its producing assets and obtain privileged access to assets in the country, home to some of the largest hydrocarbon resources in the world, reinforcing this growth vector of our group," said Repsol Executive Chairman, Antonio Brufau.

"We are pleased to develop our partnership with Repsol and together create an additional important strategic upstream growth platform in Russia. I am convinced that the joint venture will create significant value for our shareholders and make a meaningful contribution to our reserves and production," said Eric Forss, Chairman of Alliance Oil Company ltd.

Repsol already owns a 3.47% stake in Alliance Oil resulting from the merger between Alliance Oil and West Siberian Resources in 2008. Repsol also owns a 74.9% stake in Eurotek-Yugra, which holds exploration and production licenses in the Karabashsky-1 and -2 blocks in the prolific West-Siberia basin.

The transaction is subject to negotiation of final contractual terms, due diligence of the assets to be contributed by Alliance Oil and the procurement of the relevant regulatory and corporate approvals, which is expected to be completed during 2011.

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White Marlin E&P Adds Executives to Management Team

- White Marlin E&P Adds Executives to Management Team

Friday, June 03, 2011
White Marlin E&P LLC

White Marlin E&P announced the addition of two seasoned oil and gas executives to their management team. Robert (Don) Gray joins the company as Vice President of Land and Louis Romero as Vice President of Exploration. Each executive has over 30 years experience in their respective fields.

Mr. Gray joined White Marlin from Houston based Radiant Oil & Gas where he served as Vice President of Land and Land Manager. Prior to Radiant, Mr. Gray was Land Manager for Americo Energy Resources and Petro-Guard Operating Company. He has also been an Assistant Vice President for Bank One (now JP Morgan Chase), and Manager of the Oil & Gas Division at Capital Financial Group. Additionally, Mr. Gray was president and one of the founders of Sandstone Exploration, Inc., and he has acted as a land management consultant to numerous oil and gas exploration and production companies. He began his career as a Staff Landman with Hunt Oil Company in 1980 after attending the University of Texas in Austin where he majored in Government, accompanied by a minor in Petroleum Land Management. Mr. Gray is a member of the American Association of Professional Landmen and the Houston Association of Landmen.

Mr. Romero is a highly qualified professional geologist with over 30 years of domestic and international oil and gas experience. His background includes prospect generation, screening, and company operations and management for hydrocarbon exploration in many of the basins of North America and internationally in the Far East, South America and Africa. Some of his career accomplishments include significant oil and gas discoveries in the US Gulf Coast as an independent and company affiliated geologist. Louis has led the development of reserve additions totaling over 55 million barrels of oil resulting in $2.7 billion of economic impact. Louis has previously worked with Devon Energy, Ocean Energy (formerly Flores and Rucks), Sandefer Oil and Gas, Crown Central Petroleum, Transco Exploration, and as an independent producer. Louis is a member of AAPG, Houston Geological Society, and the Lafayette Geological Society.

Terry Clark, President and CEO of White Marlin E&P, offered that, "We are proud to have these consummate professionals join our executive leadership. Don Gray and Louis Romero both bring extensive knowledge and experience that will further strengthen our ability to acquire, develop, and operate new properties. Their respective management skills compliment our already strong team, and I am confident that their contributions will accelerate the growth of our business."

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ProSep Strengthens Services with Leading International Team

- ProSep Strengthens Services with Leading International Team

Thursday, June 02, 2011
ProSep Inc.

ProSep announced the assembly of its leading international process engineering and business development teams, and the nomination of Gary Blizzard, M.B.A., as Executive Vice President of Process Engineering and Product Development.

During the last 6 months, ProSep hired a large number of internationally recognized process engineers, scientists, and business development managers. With a broader offering, access to additional customer relationships, agents, and business partners, ProSep is now one of the industry's top technology-focused provider.

"The addition of these leading experts to the ProSep team marks an important milestone in our growth plan. Collectively, these additional professional engineers played a key role in the success of our industry's most renowned process equipment supplier," said Jacques L. Drouin. "By doubling the size of our engineering capacity and business development team, we are reaching critical mass and this should allow us to significantly increase projected revenues and reach profitability."

"To lead our new process engineering team and ensure we unlock significant value residing in our proprietary technologies, we nominated Gary Blizzard, who brings an impeccable track record in international business development and a strong background in the field of innovative process engineering," said Jacques L. Drouin, President and CEO.

Gary Blizzard brings over 25 years of diverse experience within multiple segments of the energy industry in the areas of international business development, marketing, engineering, and project management. Prior to joining ProSep, Gary was Business Development Director at Alcoa Oil & Gas and previously Vice President Marketing & Business Development at NATCO Group where he provided leadership for growing the specialized gas treating technology business. He holds a Bachelor of Science in Chemical Engineering from Texas A&M University and a Master of Business Administration from The University of Texas at Austin.

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Eni, Sonatrach Team Up in Algeria Shale JV

Eni, Sonatrach Team Up in Algeria Shale JV

Thursday, April 28, 2011
Eni S.p.A.

Eni and Sonatrach signed a cooperation agreement for the development of unconventional oil, with particular focus on shale gas reinforcing the close relationship between the two companies.

With extensive experience in exploration and production of unconventional oil, Eni and Sonatrach will jointly implement activities to assess the technical and commercial feasibility of exploration and operational initiatives in shale gas.

Based on previous assessments, Eni confirms the significant shale gas reserves in Algeria which Eni and Sonatrach wish to explore and develop. This will enable both companies to make important discoveries which will enhance the gas potential of the country.