In 2014, the Company achieved various breakthroughs in exploration and the reserve replacement ratio for the year was 112%. Benefitting from the Company's innovations in "thinking outside the box", technology and management, the Company made 20 new commercial discoveries and appraised 18 oil and gas structures successfully.
FMC Technologies Inc. and Technip today signed an agreement to form an exclusive alliance and to launch Forsys Subsea, a 50/50 joint venture that will unite the skills and capabilities of two subsea industry leaders. This alliance will redefine the way subsea fields are designed, delivered and maintained.
The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in oil mining lease (OML) 18 and related facilities in the Eastern Niger Delta. Its interests in OML18 were assigned to Eroton Exploration & Production Company Limited. Total cash proceeds for Shell amount to $737 million.
BASF has made progress in its plans to build a world-scale methane-to-propylene complex on the U.S. Gulf Coast. The company has selected Freeport, Texas, as the potential site. It will use Air Liquide’s proprietary Lurgi MegaMethanol and Methanol-to-Propylene (MTP) technologies. BASF has contracted Air Liquide to provide basic engineering services for this gas-to-propylene complex.
Northland Power Inc., Toronto ("Northland") and RWE Innogy GmbH, Essen (“RWE”), today announced that the €1.2 billion Nordsee One project has reached financial close, with all of the equity contributed to the project and all debt required for the project now fully committed by the project lenders.
VINCI Energies has finalised the acquisition in Brazil of the Orteng Engenharia e Sistemas S.A. company headquartered in Belo Horizonte, Minas Gerais. Founded in 1977, Orteng designs, builds and maintains electrical equipment, PLCs and turnkey solutions, primarily for the energy, manufacturing and infrastructure sectors.
Siemens and the Egyptian government have reached firm agreements today to build a 4.4 GW combined-cycle power plant and install wind power capacity of 2 GW. Siemens will build a factory in Egypt to manufacture rotor blades for wind turbines, creating up to 1,000 jobs and therefore nearly trebling Siemens' footprint in the country.
Calpine Corporation (NYSE:CPN) and Marin Clean Energy (MCE) today announced a new three-year agreement under which Calpine will deliver electric energy from Calpine’s Delta Energy Center and other of its Northern California facilities through 2017. These facilities are part of Calpine’s next generation of reduced-emission power plants fueled by natural gas.
Gamesa and AREVA announce today that they have signed the definitive agreements and have closed the transaction for the creation of Adwen, a joint venture dedicated to offshore wind, having 700 employees, 50-50 owned by its two parent companies and registered in Zamudio, Spain.
Rosneft and Golar LNG Limited signed a Memorandum of Understanding that foresees cooperation between the companies in the area of liquefaction and transportation of natural gas.