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Husky Energy says Rush Lake heavy oil project ready ahead of schedule

CALGARY – Husky Energy (TSX:HSE) says that its Rush Lake heavy oil project in Saskatchewan has begun commercial operations eight weeks ahead of schedule.

The project is designed to produce up to 10,000 barrels per day using a steam-assisted process to extract the heavy oil, once it has ramped up to full capacity. 99 more words

Canada

Bumi, Shapoorji team up for Madura FPSO

Bumi Armada has formed a JV with India’s Shapoorji Pallonji to build the FPSO that will be used at Husky Energy’s Madura BD field development off Indonesia.  36 more words

3.1 FLNG / FPSO / MOPU / Floaters

Pertamina cut, but Conoco keeps pace in Indonesia

Pertamina’s newly appointed president director, Dwi Soetjipto said in a Reuters interview, the Indonesian state-owned oil company is set to cut its 2015 capital expenditure to US$4.5 billion, down from US$7 billion to offset fuel subsidy burden passed on by the Indonesian government. 210 more words

Oil And Gas

China offshore roughing out the perfect storm

The all-in per barrel costs of Chinese national oil companies range from US$50 to US$60, according to a Nomura analyst presentation at a conference in Singapore… 340 more words

Oil And Gas

Timeline: Tracking the layoffs in Alberta's oilpatch

CALGARY – Since oil prices began tanking last summer, there have been predictions of thousands of layoffs in Alberta’s energy-dependent economy. So just how many jobs have we lost so far? 770 more words

News

Seven battle to provide FPU to work at MDA field

Seven companies (MISC, Yinson, Bumi Armada, M3nergy, and Sapurakencana, Modec, Emas) are preparing for a tender issued by Husky Energy and JV partner CNOOC Ltd for the provision of a FPU, to be located on the MDA field in the Madura Strait offshore Indonesia.  11 more words

Bumi Armada

Husky Energy cuts capital budget

CALGARY – Husky Energy (TSX:HSE) says it’s reducing this year’s capital budget by as much as $400 million and looking for up to $600 million in operational savings in response to the ongoing low-price environment for oil and gas. 187 more words

Money