|Categories:||Offshore Field Development (Drilling-Subsea)|
|Updated:||12 Feb 2011|
Exxon Mobil Corporation (NYSE:XOM) today announced the CLOV project in Angola started up on schedule and is expected to reach daily production capacity of 160,000 barrels in the coming months.
Total today announced that it has agreed to sell to INPEX CORPORATION a 9.99% indirect interest in offshore Angola Block 14. The transaction remains subject to the approval of Angolan authorities.
The Deepwater Horizon disaster in April 2010 was the largest offshore spill ever in the U.S. It humbled one of the oldest, biggest and most distinguished oil firms, BP PLC, forcing it to set aside $20 billion in compensation and sacrifice its chief executive. No wonder the oil industry is doing some soul searching.
Statoil said Wednesday the development of the CLOV project on Block 17 in Angola has been approved by the partners and the principal contracts awarded.