Tag Archives: Offshore

A new Maritime Broadband Radio system is being rolled out to help ships and planes communicate in the event of an oil spill.

Under the agreement. WorleyParsons will provide project management and FEED services.

Under the terms of the deal. Iran’s Petropars is committed to finance the study phase of the project while Toyo of Japan will undertake financing of its executive phase.

The development of Phase 11 of the South Pars project will cost up to $5 billion.

Statoil. for its part. said on Friday that ``Block 59 is a potential extension of the trend on which the Liza discovery was made in neighboring Guyana.``

Total has a 50.1-percent share in the deal. The state-owned China National Petroleum Corp. has 30-percent stake and Iran’s Petropars has 19.9 percent.

The operation of the Al Shaheen Field under the new arrangement runs for 25 years. starting on July 14.

Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum Corporation owning 30 percent and Iran’s Petropars 19.9 percent.

Total TOTF.PA won an offshore exploration license from Cyprus for drilling this year.

Total. which will take over the field operation from Maersk Oil on July 14. plans to invest $2 billion in expanding the field over the next five years.