Daily Archives: December 12, 2016

Banks provide $850M credit to Gazprom

By Offshore Energy Today.. Russian gas company Gazprom has received a credit facility of 800 million euros (approx. $848.8M) from a consortium of three banks. The Russian company signed the four-year facility agreement with Japan’s Mizuho Bank and Sumitomo Mitsui Banking Corporation (SMBC), and U.S.-based JPMorgan Chase Bank at its headquarters on Monday. On behalf…

Greens fume over Trump’s Interior Secretary ‘pick’

By Offshore Energy Today U.S. President-elect Donald Trump has reportedly found a replacement for Sally Jewel, who’s served as the Department of Interior Secretary under the Obama administration. According to various – unconfirmed – reports, Trump has lined up Cathy McMorris Rodgers, the U.S. Representative for Washington’s fifth congressional district, for the position. The news…

Shell to idle two Noble drillships

By Offshore Energy Today.. Offshore drilling contractor Noble Corporation and oil giant Shell have agreed to amend the existing long-term contracts on three ultra-deepwater drillships, including the idling of two in 2017. In the current, challenging environment for offshore exploration and production projects, the agreements offer benefits for both parties, the drilling contractor said on…

Novatek’s Yamal LNG loans 750 mln euros from Intesa

By LNG World News The Yamal LNG project (Image courtesy of Novatek)Novatek’s giant Yamal LNG project in the Russian Arctic has secured a 14.5-year credit line worth 750 million euros ($795.6 million) with the Intesa Sanpaolo bank. The loan pays an annual interest rate of 6-month EURIBOR plus 2.5 percent, with insurance covered by the…

First oil & gas production from Hummer project due in mid-2017

By _Offshore_Energy_Today_ Petsec Energy, a stakeholder in the Castex Energy-operated Hummer project in the Gulf of Mexico, has released a preliminary development schedule for Hummer, with first oil & gas production expected in mid-2017. The preliminary development schedule for the Hummer Project, off Louisiana, at Main Pass Blocks 270/273/274 follows the production test of Main…