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Exploration • Drilling • Field Services


Neil Piggott, BP vice president for exploration Brazil, said: “Further logging operations are on- going and will need to be integrated into the overall interpretation. Te next piece of critical appraisal work at Itaipu will focus on retrieving a high quality fluid sample, plus evaluating the producibility of the reservoir.”


BP is the operator of BM-C-32 with a


40 per cent equity. Other equity holders are Anadarko Petroleum Corporation (33.3 per cent) and Maersk Energia (26.7 per cent). BP has also announced that it has reached


agreement with Anadarko Petroleum Company to settle all claims between the companies related to the Deepwater Horizon accident. Anadarko – which had a 25 per cent interest in the MC252 (Macondo) prospect – and BP have concluded that entering into a settlement is in the best interest of the parties to resolve pending disputes. Te agreement is not an admission of liability by any party regarding the accident (Fig. 1). Under the settlement agreement, Anadarko will pay BP US$4 billion in a single cash payment. BP will apply the payment to the US$20 billion trust it established that is available to meet individual, business and government claims, as well as the cost of the natural resource damages. Anadarko will also transfer all of its 25 per cent interest in the MC252 lease to BP.


In addition, Anadarko will no longer pursue its allegations of gross negligence with respect to BP. Anadarko and BP have agreed to work cooperatively with respect to indemnified claims, and Anadarko has the opportunity for a 12.5 per cent participation in future recoveries from third parties or insurance proceeds cumulatively exceeding US$1.5 billion, up to a total cap of US$1 billion. Teekay Corporation has entered into an


agreement with Sevan Marine and holders of more than two-thirds of each of Sevan’s bond loans for Teekay to acquire three floating production storage and offloading (FPSO) units from Sevan and make an equity investment in a recapitalised Sevan. Under the terms of the agreement, Teekay will:


acquire from Sevan three FPSO units, the Sevan Piranema (Piranema), the Sevan Hummingbird (Hummingbird), and Sevan Voyageur (Voyageur), along with their existing charter contracts, for an aggregate purchase price of US$668 million plus the remaining cost required to complete the upgrade of the Voyageur, which is estimated to be US$110-130 million; invest US$25 million in a new issuance of Sevan equity, which is expected to provide Teekay with a 40 per cent ownership interest in a recapitalised Sevan; and enter into a cooperation agreement whereby Teekay will have the right to acquire future FPSO projects developed by Sevan. ●


excellence in transducer design ●


Load measuring pins


● Strain gauged transducers ● Tensile load links


● Compressive load cells


Active Load are able to design and manufacture strain gauge load cells and other transducers for the marine environment to the highest specifications and to liaise with the customer to meet any special requirements.


Contact:-


Active Load Ltd. w. www.activeload.co.uk e. info@activeload.co.uk


t. 44(0)1491 680123 Circle 9 or ✔ at www.engineerlive.com/iog


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