Energy

BHP Billiton has entered into a definitive agreement to purchase Texas-based oil and gas company Petrohawk Energy to expand its interests in the booming shale gas market.

The equity value of the transaction is $12.1 billion, and the Petrohawk board of directors has unanimously recommended the offer to shareholders.

Wood Group PSN’s Australian operations form the company’s largest international business unit, with more than 2,100 personnel now working across five Australian regions: Victoria (Melbourne), Queensland (Brisbane), New South Wales (Sydney), Western Australia (Perth) and Northern Territory (Darwin).

Oil giant BP is to redevelop two oil fields to the west of the Shetland Islands, it has been announced.

The Schiehallion and Loyal oil fields have produced nearly 400 million barrels of oil since production started in 1998; and an estimated 450 million barrels of resource is still available. BP is planning to invest around £3 billion in redeveloping the two fields, with production scheduled to last until at least 2035.

The company said it would employ the latest technology to maximise recovery from the two fields.

Based on 30 years of experience in India, Tata Projects Limited (TPL) is in growth mode as it takes on some of the country’s largest infrastructure projects, at the same time looking at the opportunities thrown up by the energy boom in the Middle East.

Detroit-based energy company DTE Energy is to install a photovoltaic system on the roof of a high school in Michigan as part of its $100 million SolarCurrents program.

DTE Energy and Mercy High School in Farmington Hills have signed a 20-year agreement that will provide the utility's customers with renewable solar energy.

The 400-kilowatt, $2.5 million photovoltaic system will be installed using 125,000 square feet of roof space at the high school. The solar array should be operational this fall after design and construction is completed.

To keep up with South Africa’s rapidly growing demand for electricity, and a distribution system in need of modernisation, state-owned utility company Eskom is undertaking a massive construction and development programme.

Engineering powerhouse Siemens says it expects new orders to increase again in the third quarter of fiscal year 2011, driven by a major order in May for new ICx long-distance trains.

The company also anticipates a clear increase in revenue compared to the same period a year earlier.

“We're continuing to invest strongly in innovation and the expansion of our global market footprint,” said Siemens CFO Joe Kaeser at the Siemens Capital Market Day in Shanghai on Tuesday. “Our growth expectations have come along in the third quarter."

Offshore Marine Management is deftly responding to gaps in the market provided by the expansion of the renewable energy sector and the investment being poured into it, moving from human capital to project management to business critical support partner with proven offshore experience.

The UK government has earmarked eight sites across the country as suitable locations for new nuclear power stations.

The announcement came as the government published its finalised Energy National Policy Statements (NPSs) for debate in parliament.

The Energy NPSs provide a framework for decision making and outline the need for a drive on investment in new energy sources, including 33GW of new renewable energy capacity.

The government hopes to have nuclear facilities up and running at the eight locations by 2025.

Total Namibia is shaping up to leverage its international experience and reputation to establish a foothold in the country’s booming mining sector.