Dow Chemical Awarded $12.8 Million by Department of Energy To Develop Photovoltaics

- Dow Chemical Awarded $12.8 Million by Department of Energy To Develop Photovoltaics



Sep 2, 2011

As part of the U.S. Department of Energy's SunShot initiative, Dow Solar, a business unit of The Dow Chemical Company (NYSE:DOW), has been awarded a $12.8 million, 3-year grant to fund a program to dramatically reduce the cost of building integrated solar products. The program's goal to ensure that solar power is a viable source for the nation's power needs and economic growth, and accelerate widespread solar adoption.

The Department of Energy grant will help fund a $22.4 million program that brings together leaders from across the entire value chain, including solar solutions providers, national laboratories, universities, leading electronics companies and national home builders to create a new solar technology that reduces the total installation costs and provide reliable, low cost solar energy to residential consumers.

Dow Chemical (NYSE:DOW) has a potential upside of 53.4% based on a current price of $26.83 and an average consensus analyst price target of $41.15.

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Canacol Awarded Contract by Ecopetrol for Colombian Field

- Canacol Awarded Contract by Ecopetrol for Colombian Field

Thursday, September 01, 2011
Canacol Energy Ltd.

Canacol announced that Canacol Energy Colombia S.A., a subsidiary of the Corporation, has been awarded a contract by Ecopetrol S.A. for a 100% working interest in the associated gas and gas liquids stream from the Rancho Hermoso Field, located in the Llanos Basin of Colombia. Under the terms of the contract, awarded to Canacol by Ecopetrol S.A. on August 31, 2011, the Corporation will purchase the produced gas from Ecopetrol S.A. at a price of US $6.50 per thousand British Thermal Units (US $15.48 per thousand standard cubic feet per day), which includes the associated liquids, those being naphtha, propane and butane. The gas is very liquids rich, with 1 million standard cubic feet per day (mmscfpd) yielding approximately 160 barrels of naphtha, 126 barrels of propane, and 118 barrels of butane per day. In Colombia naphtha, propane, and butane all sell at a premium to West Texas Intermediate. The contract will be effective on January 1, 2012, and the Corporation anticipates adding approximately 2,300 net barrels per day of naphtha, propane and butane to its existing oil production stream from the approximately 5.7 mmscfpd of gas production forecast for January 2012.

Charle Gamba, President and CEO of the Corporation, commented "We are very pleased to have been awarded this contract for the associated gas at Rancho Hermoso, which will add a very healthy amount of liquids production to our oil production stream in Colombia. The Corporation will also be able to book proven, probable and possible reserves associated with the associated gas and gas liquids under the terms of the contract. Meanwhile, the Corporation has spudded the first of four new development wells to be drilled in the field during the remainder of 2011."

The Corporation anticipates awarding a contract for the construction of a gas and liquids separation facility in mid-September, 2011, which will be ready to receive the gas and associated liquids on January 1, 2012. The remaining dry gas will be utilized to generate electricity in the field, thereby lowering operating cost associated with the purchase of diesel, which is currently being used to generate electricity in the field.

The Corporation also announced that the spud of the Rancho Hermoso 11 development well on August 29, 2011, approximately 1 month behind schedule due to a delay in obtaining the environmental license for the well. All of the relevant licenses for the remaining wells to be drilled in the field have been obtained.

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Novatek Awarded Yamal-Nenets Licenses

- Novatek Awarded Yamal-Nenets Licenses

Tuesday, August 30, 2011
OAO NOVATEK

OAO NOVATEK today announced that its subsidiary OOO NOVATEK- Yurkharovneftegas was granted four new license areas for exploration and production in the Yamal-Nenets Autonomous Region based on a ruling by the Russian Government.

Two of the license areas –Salmanovskiy (formerly, Utrenniy) and Geofizicheskiy - are located in the hydrocarbon-rich Gydan peninsula, and have combined reserves of 978.6 billion cubic meters of natural gas and 46.3 million tons of liquid hydrocarbons under Russian reserve classification “ABC1 + C2”. The remaining two license areas - North-Obskiy and East-Tambeyskiy – are located offshore in the northern portion of the Gulf of Ob, and have a combined resource base of 1,763 billion cubic meters of natural gas and 220.7 million tons of liquid hydrocarbons according to the Russian reserve classification “D1 + D2”. All the license areas are adjacent to the Yamal peninsula where the Company is developing its Yamal LNG project.

According to NOVATEK’s Management Board Chairman, Leonid Mikhelson, “These new license areas significantly expand our current reserve and resource base and provide access to a region with enormous resource potential to support NOVATEK’s long-term growth plans”.

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Foster Wheeler Awarded Karsto Engineering Contract

- Foster Wheeler Awarded Karsto Engineering Contract

Tuesday, August 30, 2011
Foster Wheeler AG

Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Aibel AS for the provision of detailed design engineering services to support Aibel, which has been appointed by Statoil as the main engineering, procurement and construction contractor for the Kårstø Development Project (KDP) 2013 for the Kårstø and Kollsnes oil and gas processing plants in Norway.

The Foster Wheeler contract value for this project was not disclosed. A small initial release of work was included in the company’s second-quarter bookings. The majority of Foster Wheeler’s work scope will be included in company’s third quarter 2011 bookings.

Foster Wheeler’s scope of work includes detailed design engineering services for modifications at the Kårstø plant to enable it to process light oil from the Gudrun offshore oil field and condensate from the Sleipner field. Foster Wheeler’s scope of work also covers the upgrading of eight compressors, three at Kårstø and five at Kollsnes. There are two additional scopes of work included as options under the KDP 2013 contract: a boiler upgrade project and hydrogen sulfide removal at Kårstø. This work has not yet been released and is dependent on Statoil choosing to exercise the options.

Statoil is acting on behalf of Gassco. Gassco is the operator for the Kårstø and Kollnes terminals, which are owned by the Gassled joint venture, with Statoil as the technical service provider.

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Excelerate Awarded Brazilian FRSU Contract

- Excelerate Awarded Brazilian FRSU Contract

Monday, August 29, 2011
Excelerate Energy L.P.

Excelerate Energy has executed with Petrobras a 15-year time charter party to provide an advanced floating storage and regasification unit (FSRU). This vessel, designated by Petrobras as VT3, will deliver 20 million cubic meters per day of natural gas to the Southeast Region of Brazil.

In addition, from July 2013 until the arrival of the VT3 newbuilding, the Guanabara Bay Terminal will make use of the Exquisite, one of Excelerate Energy's existing FSRUs with an increased regasification plant, expanding the terminal's delivery capacity from 14 to 20 million cubic meters per day.

The VT3 newbuilding design is based on Excelerate Energy's existing fleet and Petrobras requirements, and will have a storage capacity of 173,400 m(3) making it the largest FSRU in the industry. Capable of operation as both an FSRU and a fully tradable LNG carrier, this vessel is expected to enter into service in May of 2014.

Excelerate Energy has selected DSME for the construction of the new vessel, the same shipyard that built its previous eight FSRUs. Working with DSME, Excelerate is continuing the evolution of a highly reliable and proven design, while at the same time, expanding its fleet of compatible vessels.

"We are extremely pleased with the selection of Excelerate Energy to provide this industry-leading vessel, and we are confident that with our experience and expertise in floating regasification that we will provide a high standard of service to justify the confidence that Petrobras has placed in us," said Rob Bryngelson, President and CEO of Excelerate Energy.

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Rockwell Awarded $4 Million Order from Grizzly Oil Sands

- Rockwell Awarded $4 Million Order from Grizzly Oil Sands



Aug 16, 2011

Grizzly Oil Sands, and independent oil sands company, has awarded a $4 million order to Rockwell (NYSE:ROK) and its Global Solutions team.

Global Solutions will use the company's PlantPax process automation system to help Grizzly produce more than 5,000 barrels of oil per day at the first phase of its Algar Lake Project.

The solution supports steam-assisted gravity drainage, an enhanced oil recovery technology for producing heavy crude oil and bitumen.

Rockwell Automation is currently below its 50-day moving average (MA) of $77.93 and below its 200-day MA of $79.74.

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CB&I Awarded Contract for AU Arrow LNG Proj.

- CB&I Awarded Contract for AU Arrow LNG Proj.

Tuesday, August 16, 2011
CB&I

CB&I has been awarded, through its joint venture with Chiyoda Corporation and Saipem S.p.A., the Preparation and Supply of the Project Specification contract for the Arrow LNG Plant Project in Australia.

Arrow Energy Pty Ltd., the project operator, is a 50/50 joint venture partnered by Royal Dutch Shell and PetroChina.

The project, which will be designed with a production capacity of 8 million tonnes per annum (4.0 MTPA x 2 trains), is planned to be constructed on Curtis Island, off the coast of Gladstone, on the east coast of Queensland, Australia. The project plans to expand its capacity up to 16 MTPA in the future. The LNG plant will be supplied with coal seam gas from the Surat and Bowen basins in Queensland and will process, treat and liquefy the gas for export.

"We are pleased to be selected for this significant project, which will help meet the world's demand for clean energy," said Philip K. Asherman, President and CEO. "This award builds on our proven worldwide LNG technical expertise and our 75-year history in Australia."

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Total Awarded Tanzania Tanganyika O&G Rights -TPDC

- Total Awarded Tanzania Tanganyika O&G Rights -TPDC

Tuesday, August 16, 2011
Dow Jones Newswires
by Nicholas Bariyo

Tanzania's state oil company, Tanzania Petroleum Development Corp., has awarded rights to explore for oil and gas in its Lake Tanganyika Rift Basin to France's Total E&P Activities Petrolieres, with further negotiations and details on a production sharing agreement to follow, TPDC announced Tuesday.

"Total has shown itself to be able to comply with the minimum work commitment and has superior technical as well as financial capability over the other bidders to undertake exploration in the Lake Tanganyika North area," TPDC said. Total beat at least four other companies.

The Lake Tanganyika Rift Basin is part of the western arm of the East African rift valley, where at least a billion barrels of oil have been discovered in neighboring Uganda.

The Lake Tanganyika rift basin is divided into two blocks. Total will operate the northern block. The Southern block was awarded to Australia's Beach Energy in 2008.

Next year, Tanzania will open another bidding round for at least 13 blocks sitting between 1,200 meters and 3,500 meters of water depth off its coast in the Indian Ocean.

However, in recent months, licensing and exploration activities off the Tanzanian coast have been overshadowed by disputes between mainland Tanzania and the semi-autonomous archipelago of Zanzibar over the control of oil and gas in around five blocks near the isles.

Currently, Tanzania has licensed 12 deepwater blocks and recent exploration works have encountered at least 7.5 trillion cubic feet of natural gas. The country is yet to discover commercial oil reserves.

At the moment, there are no production projections Tanganyika project since no discoveries have been made, and formal exploration has yet to commence.

Copyright (c) 2011 Dow Jones & Company, Inc.

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GM Confirms A123 Systems Awarded Contract For Future Batteries

- GM Confirms A123 Systems Awarded Contract For Future Batteries



Aug 11, 2011

GM (NYSE:GM) announced today that the company has awarded a production contract to A123 Systems (NASDAQ:AONE) for batteries to be used in future GM electric vehicles to be sold in global markets.

Micky Bly, an executive director at GM said, "GM is committed to offering a full line of electrified vehicles - each of which calls for different battery specifications. We work with a variety of battery developers and A123's advanced Nanophosphate lithium ion technology offers ideal performance capabilities for a future electrified vehicle application."

The specific vehicles and brands will be announced at a later date.

This contract win is being attributed as a driver of A123's stock move, with shares up about 42% so far today.

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Delmar Awarded Mooring Contract by Noble

- Delmar Awarded Mooring Contract by Noble

Wednesday, August 03, 2011
Delmar Systems Inc.

Delmar Systems was awarded a contract by Noble Energy EG, Ltd. to supply an eight-leg preset mooring system for use in Noble Energy's Aseng Development off the coast of Equatorial Guinea, West Africa. Delmar provided Noble Energy a full compliment of
mooring equipment including Delmar's patented OMNI-Max™ anchors and Delmar Subsea Connectors (DSCs). All equipment has been successfully delivered to Noble Energy EG's yard in Equatorial Guinea.

The patented Delmar OMNI-Max anchor is a gravity-installed vertically loaded anchor (VLA) that offers unique performance characteristics not found in other deepwater anchor foundations. The OMNI-Max anchor is capable of being loaded in any direction 360° around the axis of the anchor. This anchor technology offers a great benefit in the design of mooring systems that reduces risk to subsea infrastructure in the event of station-keeping damage or failure. This proven anchor concept has been deployed and retrieved on over 150 anchor locations.

The Delmar developed and patented DSC is used with MODUs (mobile offshore drilling units) and permanent mooring installations to allow single vessel deployment of anchors and mooring lines. The DSC provides for easy connect/disconnect capability with the use of a standard ROV.

"We are pleased that Noble Energy EG has chosen our mooring technology for their project. Our patented technologies have proven themselves as the safest, most efficient mooring solutions used in the offshore mooring industry," said Delmar's Executive Vice President, Brady Como.

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Aker Awarded FEED Study at Statoil's Mariner Field

- Aker Awarded FEED Study at Statoil's Mariner Field

Tuesday, July 12, 2011
Aker Solutions

Aker Solutions has won a contract to conduct the topside FEED (front-end engineering and design) study for Statoil on the Mariner field on the UK continental shelf in the North Sea. The contract value is approximately NOK125 million.

The study will be delivered in the summer of 2012, after which the customer may proceed with the final investment decision.

"We are pleased to have won another important topside FEED study from Statoil. The Mariner field presents an exciting opportunity on the UK shelf, which suits our strategy of boosting our presence in the UK further," said Valborg Lundegaard, executive vice president of Aker Solutions' engineering business.

The engineering and design work will be carried out from Aker Solutions' engineering hub in Oslo, together with engineers from the drilling technologies business in Kristiansand, Norway.

Aker Solutions is also strengthening its UK engineering capacity, hiring experienced engineering professionals to its London office, which could offer future support for the Mariner project.

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Chevron, Apache, PTTEP Awarded Australia Exploration Permits

- Chevron, Apache, PTTEP Awarded Australia Exploration Permits

by Ross Kelly
Friday, July 08, 2011
Dow Jones Newswires
SYDNEY

Chevron, Apache and Thailand's PTT Exploration & Production (PTTEP) are among six companies that have been awarded new offshore oil and gas exploration permits by Australia's government.

Resources and Energy Minister Martin Ferguson on Friday estimated that exploration work on the six permits in waters off Western Australia and South Australia states will have a combined value of nearly A$137 million over three years, with further investment possible depending on exploration success.

Special conditions have been placed on PTTEP, which was responsible for the Montara oil spill offshore northern Australia in 2009. These include lodging governance processes with the regulator prior to drilling, preparing a spill mitigation report, and being open to a peer review of drilling operations at the regulator's discretion.

Other companies to win permits include MEO Australia and little-known Australian firms Flow Energy Ltd. and Bight Petroleum Corp.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Wood Group Awarded Commissioning Services for Chevron's Big Foot Facility

- Wood Group Awarded Commissioning Services for Chevron's Big Foot Facility

Thursday, July 07, 2011
Wood Group

Wood Group has been granted a multi-million dollar, three-year contract by Chevron U.S.A. Inc. to commission the Big Foot extended tension leg platform (E-TLP) in the deepwater Gulf of Mexico. Work will be performed by DSI, Wood Group PSN's commissioning services business.

DSI's scope of work covers the full commissioning process, from development of procedures, through inspection and testing of every operational component at the South Texas fabrication yards and offshore, to the final hand-over of systems to Chevron.

Big Foot is the eighth TLP/ETLP DSI has commissioned worldwide and is the fifth facility commissioned for Chevron, including the Jack & St. Malo semi-submersible platform in the deepwater Gulf of Mexico, which DSI is currently commissioning.

"Commissioning is critical to the safe start-up of a production facility, proving the integrity and reliability of all safety and operating systems," stated Trey Lambert, president of DSI. "Chevron can rely on DSI to provide safe, consistent and quality commissioning services across its projects."

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McDermott Awarded Subsea Contract for Macedon Proj.

- McDermott Awarded Subsea Contract for Macedon Proj.

Wednesday, July 06, 2011
McDermott International Inc.

McDermott announced the award of a significant subsea contract to its Australian subsidiary for a deepwater offshore engineering and construction project, including structural transportation and installation of subsea infrastructure. The new contract for work offshore Western Australia is included in the company's second quarter 2011 backlog.

"We are extremely pleased to win this significant subsea award in the Asia Pacific segment as it reinforces McDermott's strengthening position in subsea construction projects," said Stephen M. Johnson, McDermott's Chairman, President and Chief Executive Officer. "We are also gratified by our customer's confidence in providing McDermott with the opportunity to demonstrate our growing expertise in reliably delivering complex deepwater projects within a challenging time frame."

The award is for the Macedon Gas Project, situated in the Pilbara region of Western Australia, which will be McDermott's first SURF (Subsea, Umbilicals, Risers and Flowlines) project in Australia. McDermott will carry out detailed engineering, procurement, fabrication, transportation and installation of a 77 kilometer, 20-inch diameter pipeline and will install subsea umbilicals and flexible flowlines using vessels from the company's globally diverse fleet in water depths up to 180 meters.

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GE O&G Awarded Chevron Contract for Jack/St. Malo Fields

- GE O&G Awarded Chevron Contract for Jack/St. Malo Fields

Tuesday, July 05, 2011
GE O&G

GE O&G will supply three customized aeroderivative gas turbine-generator modules to provide reliable electric power for a new Chevron floating production unit that will produce oil and gas from the Jack/St. Malo fields in the Gulf of Mexico, approximately 280 miles south of New Orleans and at a water depth of approximately 7,000 feet.

GE will provide three LM2500+G4 gas turbine generator modules, each mounted on a three-point support base plate, designed with marine corrosion-resistant materials to overcome footprint restrictions and withstand pitch, roll and acceleration forces anticipated for a floating production unit operating in deep waters.

Marco Caccavale, North America region leader—turbomachinery, GE Oil & Gas said, "We are delighted to have been selected by Chevron for this important Gulf of Mexico project. To optimize reliable performance and efficiency and mitigate the considerable footprint restrictions offshore, we have design-engineered three unique modular solutions featuring GE aeroderivative gas turbine technology at their core. This topside, offshore project reflects GE's ability to supply mission-critical equipment across key segments of the oil and gas value chain and builds on our track record of supplying fixed and floating projects worldwide, including for projects offshore Angola, Brazil, China and Norway."

The LM2500+G4 gas turbines will be manufactured by GE Aero Energy in Evendale, Ohio, while the generator package assembly and testing will take place at GE Oil & Gas' facilities in Massa, Italy. Shipment of the equipment is scheduled to start in December of 2011, with commercial startup planned by early 2013.

Chevron's initial development of the Jack and St. Malo fields will be comprised of three subsea centers tied back to a hub production facility with an initial capacity of 170,000 barrels of oil and 42.5 million cubic feet of natural gas per day.

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ERHC Awarded Chad Oil Exploration Blocks

- ERHC Awarded Chad Oil Exploration Blocks

Thursday, June 30, 2011
ERHC Energy

ERHC Energy Inc. today announced that the government of the Republic of Chad has formally awarded the company three oil blocks for exploration and development. The company expects to announce a concluded production sharing contract in respect of the blocks as early as next week. ERHC's financial officer, Mr. Sylvan Odobulu, has led a team of legal, technical and financial experts in negotiating the production sharing contract on behalf of ERHC.

The specific blocks in the award are Block BDS 2008, Manga and Chari-Ouest Block 3. The award of these blocks follows several months of negotiations between ERHC and the government of Chad.

"This is another significant milestone in the remarkable history of ERHC," said ERHC CEO Peter Ntephe. "Among the independents operating in Africa, we are already one of the largest holders of exploration acreages in terms of number and size of blocks. This new award increases our holding considerably while also strategically diversifying our portfolio beyond the Gulf of Guinea."

The West African nation of Chad is one of sub-Saharan Africa's significant crude oil producers. It shares borders with Cameroun and Sudan, which both produce oil, and Nigeria which is Africa's largest oil producer. Chad has proven oil reserves of 1.5 billion barrels with studies establishing the prospect of more discoveries.

Apart from the new award, ERHC currently holds working interests in six Blocks in the Nigeria-São Tomé & Príncipe Joint Development Zone (JDZ). ERHC also holds 100% of Blocks 4 and 11 of the São Tomé & Príncipe Exclusive Economic Zone (EEZ) with an option to acquire up to 15 percent working interests in two other EEZ Blocks.

ERHC management will host a live online chat at 5:00 p.m. Central Time Wednesday, July 6, 2011. CEO Peter Ntephe will respond to questions posted live at www.erhc.com/chat. Those unable to participate live will be able to review the online interaction afterward.

About ERHC Energy

ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in Africa, including within the highly prospective Gulf of Guinea. ERHC is committed to creating and delivering significant value for its shareholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.

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AF Group Awarded Decommissioning Work Offshore Germany

- AF Group Awarded Decommissioning Work Offshore Germany

Tuesday, June 28, 2011
AF Group

The AF Group has been awarded a Letter of Intent with Statoil, on behalf of Gassco as operator, regarding removal and recycling of the Norpipe H7-platform.

The platform is located at the German continental shelf of the North Sea, and has been a part of the pipeline which exports gas to Europe. The Letter of Intent covers planning, engineering, removal and demolition of the installation. The Letter of Intent also includes an option to decommission a similar platform, B11.

Environmental Base Vats on the west coast of Norway will be used as decommissioning site. The site is Europe's most modern decommissioning facility for decommissioned offshore installations.

The contract value is approx. NOK 420 million, excl. abovementioned option works. A condition for the contract is a final decision by the ownership Gassled on the implementation of the removal project.

The work will start immediately, and is planned to conclude by the end of 2016.

"The AF Group has built up expertise and capacity to handle removal and recycling of obsolete petroleum installations. It is therefore a recognition that Statoil, on behalf of Gassco, has chosen us for this mission. The work lays the foundation for further growth within our environmental business in the North Sea," said Pål Egil Rønn, CEO of the AF Group.

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AGR Awarded Subsea Inspection Contract Offshore AU

- AGR Awarded Subsea Inspection Contract Offshore AU

Thursday, June 23, 2011
GR Group ASA

AGR Field Operations has been awarded a major contract to perform a subsea inspection of offshore facilities in the Bass Strait of Australia. This significant scope of work involves an ROV based general visual inspection and a cathodic protection survey as well as installation work.

The facilities to be inspected include two offshore platforms and their associated pipelines.

AGR Field Operations will be providing Project Management, HSEQ interfaces, Inspection engineers and coordination of the sub-contractors including vessels, ROV and positioning services.

The final report will become part of an inspection database being commissioned by AGR Field Operations which will integrate legacy inspection data, reports and drawings for the assets.

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Parker Hannifin Awarded Mooring Contract by Subsea 7

- Parker Hannifin Awarded Mooring Contract by Subsea 7

Wednesday, June 15, 2011
Parker Hannifin Corp.

The Energy Products Division of Parker Hannifin Corporation has been awarded a contract from Subsea 7 for one of the world's largest mooring projects. Parker will supply the steel wire tether system for the deep water Guara and Lula NE submerged buoys in Brazil. Subsea 7 has been contracted by Petrobras to provide engineering, procurement, installation and pre-commissioning of four decoupled riser systems in this field.

Parker will provide Subsea 7 with 34 sheathed tethering lines each measuring more than 6,000 feet (over 1850 meters) in length. These steel tethers will keep the submerged buoys securely moored to the seabed of the Guara and Lula NE fields. The mooring lines will be engineered and constructed at the Tønsberg, Norway manufacturing location.

EPD's General Manager, Craig Anderson, stated, "We are proud to have been selected to provide our mooring products for the Guara and Lula NE development, and we look forward to partnering with the Subsea 7 project team on this world-class project."

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KCA Deutag Awarded FEED Contract for Browse LNG Development

- KCA Deutag Awarded FEED Contract for Browse LNG Development

Monday, June 06, 2011
KCA Deutag

KCA Deutag has been selected by Woodside Energy as one of two drilling contractors to carry out a major Front End Engineering Design (FEED) contract relating to a 3,000HP Modular Platform Drilling Rig (MPDR) for the Browse Liquefied Natural Gas (LNG) Development, offshore North West Australia.

The MPDR will be capable of drilling large bore gas wells up to 9,000m measured depth and of being transferred between Dry Tree Units (DTUs) based on a tension leg platform design. The DTUs will be positioned over the Calliance and Brecknock Fields, located approximately 270km from the Kimberley Coast, Western Australia.

Woodside is Australia's largest independent publicly traded hydrocarbon exploration and production company and one of the world's leading producers of LNG. The Browse LNG Development is a joint venture between Woodside, BHP Billiton, BP, Chevron and Shell.

FEED work has commenced and is being carried out by KCA Deutag's engineering division RDS in its London offices. It will take approximately six months to complete, include more than 30 persons, and involve interfacing with Woodside's two selected DTU contractors, Aker Solutions in Oslo and MODEC in Houston.

Neil Stevenson, KCA Deutag's Director, Business Development and Commercial, said, "This is an extremely important contract for KCA Deutag for a new client, and on one of the largest offshore LNG developments in the world. It also provides a major breakthrough into the expanding Australia onshore and offshore drilling market and builds upon our established presence in Southeast Asia. The award is very much aligned with our strategy of seeking involvement in new projects from the very early conceptual and front end stages and then being retained and accountable for the drilling performance of the rig during the operations phase."

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