Bp Share Discussion Threads

[florenceorbis] 29/1/2019 09:34

BP extends Odfjell contract on three North Sea platforms

Written by David McPhee - 29/01/2019 9:13 am

BP's Clair Ridge platforms west of Shetland is expected to begin production this year.
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Oil giant BP has extended Odfjell Drilling’s maintenance service contract on three North Sea platforms.

The agreement is for platform drilling services on the Clair Ridge, Clair and Andrew platforms.

The two-year extension to existing contracts is estimated to be worth almost £40 million.

The deal also has two one-year extension options.

The current contracts will run to the end of January 2019.

Ole Fredrik Maier, EVP Platform Drilling said: “This award from BP to continue our long relationship recognizes Odfjell Drilling as a quality provider of platform drilling and maintenance services with a strong focus on safe and efficient operations.

“We welcome and appreciate this new contract award from BP and look forward to a further long and productive working relationship.”

[florenceorbis] 29/1/2019 09:33

BP talks deep gas production at Azeri-Chirag-Gunashli in Azerbaijan
today, 12:09Neftegaz.RU1

Baku, January 29 - Neftegaz.RU. BP is planning to start deep gas production in the Azeri-Chirag-Gunashli (ACG) block located in the Azerbaijani sector of the Caspian Sea. Negotiations continue on deep gas production from the ACG block, BP Azerbaijan Vice President Bakhtiyar Aslanbayli told Trend on January 28.



He said that deep gas at the ACG block of fields is planned to be produced for the 1st time this year, but the exact dates aren’t known yet.



BP Azerbaijan is the operator of ACG. The process of producing deep gas at the ACG block consists of 2 phases. The 1st phase will be implemented under the new agreement on ACG. It is divided into 2 stages. 4 wells will be drilled in total. The drilling of 4 wells within the 1st phase is related to meeting domestic demand for gas in Azerbaijan in the coming years.



This year, the production at the ACG field is expected to reach the figure of 2018. Proven oil reserves of ACG block of oil & gas fields are estimated at 1.2 billion tons, while gas reserves make 350 billion m3. The State Oil Fund of Azerbaijan (SOFAZ) received $138.2 billion as part of a project to develop the ACG block of oil & gas fields.



Azerbaijan has a large number of oil & gas fields and promising structures in the Caspian Sea. The overwhelming part of oil produced in Azerbaijan falls on ACG block. Almost all oil from the block is exported by the Baku-Tbilisi-Ceyhan (BTC) pipeline.

[optomistic] 29/1/2019 09:24

Peny, even your 'special' monkey is allowed a lapse in concentration now and again ;-)

[penycae] 29/1/2019 09:07

Anybody wanna buy a monkey?

[optomistic] 29/1/2019 08:34

Morning all, in at 496p and a touch.

[penycae] 28/1/2019 18:43

opto- the way crude is going, you might get a better entry point than you expected.

Trade well and prosper.........

[sicker] 28/1/2019 18:30

With you there optomistic, it's getting to the stage that many over the retirement age will start to struggle to comply with the stronger and more complex security needed to access one's accounts :-)

[optomistic] 28/1/2019 18:14

Got very tempted late afternoon but had problems transferring funds from my bank to my ISA, security getting stronger now. Look for a purchase tomorrow but now I've mention it the price will no doubt go away from me :-/

[philanderer] 28/1/2019 18:06

LONDON (Alliance News) - It was a sluggish start to the new week for the FTSE 100 on Monday, with losses gathering pace in the afternoon as US stocks opened on a downbeat note following disappointing earnings from industrial giant Caterpillar.

Concerns over a slowdown down in China overshadowed the end of the US government shutdown putting the UK index in line for its fifth straight negative close," said Fiona Cincotta, senior market analyst at City Index.


"Bellwether Caterpillar started the ball rolling, reporting earnings that sent a chill through the market. The industrial giant provided evidence of just how the economic slowdown in China is impacting on industrial firms," said City Index's Cincotta.

[waldron] 28/1/2019 17:17

FTSE 100
6,747.1 -0.91%
Dow Jones
24,422.13 -1.27%
CAC 40
4,888.58 -0.76%

Brent Crude Oil NYMEX 59.57 -3.36%
Gasoline NYMEX 1.35 -3.89%
Natural Gas NYMEX 2.91 -5.31%


WTI - 28/01 17:44:07
51.38 USD -3.51%


Eni
14.432 -0.96%


Total
46.685 -1.61%

Engie
13.875 -0.36%

Orange
13.485 +0.04%



BP
494.9 -2.37%


Shell A
2,213 -1.71%


Shell B
2,227 -1.83%

[penycae] 28/1/2019 16:32

Crude down over 3%.

[ny boy] 28/1/2019 15:26

About time the gov finalised brexit ffs, I can’t watch anymore news about it!

[hellscream] 28/1/2019 15:13

bout time the government started taxing the traders.

[bracke] 28/1/2019 15:05

Penycae

I was thinking it may want to test the previous low at 485. If that fails to support then 465.

[penycae] 28/1/2019 14:51

bracke - didn't catch the bottom, but I'm happy with the entry point. Really is a large trade, so when it gets back to 515, I'll be out, and off to the races.
Entry point was linked on monkeysofr to the price of crude. That's over 2.5% down at the moment, but it'll soon change.

[bracke] 28/1/2019 14:26

Good day Penycae

Monkey was a little early with the buy........perhaps a touch of early exuberance?

[skinny] 28/1/2019 14:20

Well that went well!!

Brent heading back towards $60.

[ny boy] 28/1/2019 13:03

AI to be involved in oil drilling, anyone know which listed Companies are involved in this potential new business opportunity?


Dropping nicely into the buying zone before ex div Valentines Day, Buy your loved one BP shares 😁

[skinny] 28/1/2019 13:01

Just added some @499.87.

[penycae] 28/1/2019 11:02

Morning all!

Just maxed out my cfd account at 502.89.
Monkey's biggest trade in ten years.

Trade well and prosper.......

[philanderer] 28/1/2019 10:55

BP could save “several hundreds of millions” of pounds a year by using artificial intelligence to make oil drilling more efficient, a senior executive says. The energy company is using big data to identify and develop new fields, as well as squeezing more from existing resources. - The Times

[waldron] 28/1/2019 08:58

BP invests £3.8m in AI technology

Written by Mark Lammey - 28/01/2019 7:48 am

BP news
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BP has invested £3.8 million in new artificial intelligence (AI) technology aimed at speeding up projects.

Houston technology start-up Belmont Technology has developed a cloud-based geoscience platform using AI.

It links geology, geophysics, reservoir and project information to improve understanding of BP’s subsurface assets.

The technology is targeting a 90% time reduction in data collection, interpretation and simulation.
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BP invests £3.8m in AI technology

David Eyton, BP’s group head of technology, said: “This AI-based platform, which we’ve nicknamed Sandy, is expected to unlock critical data for our subsurface engineers at a much accelerated pace.

“Our experts will ask it questions about our reservoirs like, ‘What factors control production in the Chirag field?’.

“Sandy will then interpret our data, including mapping out many more scenarios than are currently constructed, helping us make faster, better informed upstream decisions.

“This investment helps drive forward our digital strategy and further underpins our upstream operations with cutting edge technology.”

BP’s investment will enable Belmont Technology to expand its workforce, extend Sandy’s capabilities and accelerate the deployment of its product.

Belmont Technology’s chief executive, Jean-Marie Laigle, said: “We are extremely honored to welcome BP as an investor as it is a validation of our approach and technology.

“We are excited by the prospect of deploying a cutting-edge cognitive AI solution within BP.

“Our technology enables real-time thinking for subsurface engineers, helping transform the way teams work, analyse data, understand situations and generate novel ideas.”

[hellscream] 28/1/2019 05:36

you got people saying oil is a dying industry (battery cars) etc, but can anyone tell me why america is going crazy on oil production? new records on a daily basis, even talk of more output than russia and saudi combined in 2025. why this big push? noone from the greens talk about this?

[hellscream] 28/1/2019 05:16

is it normal for gas prices to move up and down 10% on a daily basis? seems a bit extreme.