Tag: BP
TNK-BP invests USD 10 billion
TNK-BP, the Russian joint venture of BP, is set to invest USD 10 billion in its Arctic oil fields, enabling export of its huge reserves in the region to Chinese markets by 2016. Reliance and BP join forces
According to MarketWatch, U.K.-based BP PLC is spending USD $7.2 billion to buy a 30% stake in oil and gas blocks controlled by Reliance Industries in India.
BP Venezuelan interests
BP is selling its upstream businesses and associated interests in Venezuela and Vietnam to TNK-BP for USD 1.8 billion in a cash only deal.
World’s deepest oil and gas well
Transocean Ltd has announced that its ultra-deepwater semi-submersible rig Deepwater Horizon has drilled the deepest oil and gas well ever while working for BP and its co-owners on the Tiber well in the US Gulf of Mexico.
Caspian Acreage exploration
BP and SOCAR (the State Oil Co. of the Republic of Azerbaijan) have signed a memorandum of understanding (MOU) to jointly explore and develop the Shafag and Asiman structures in the Azerbaijan sector of the Caspian Sea.
BP wins Iraq oilfield contract
Due to a rival bidder dropping out of a televised auction in a disagreement with the country's oil ministry over fees a BP-led consortium has won the rights to develop Iraq's biggest-producing oilfield.