Energy Business Report: PetroChina Invites Joint Ventures, Transocean Wins 4 Contracts

PetroChina Company Limited (NYSE:PTR) is currently said to offering oil and gas blocks in China’s remote but resource-rich Xinjiang region to overseas firms to be jointly developed, which marks the first opportunity for foreigners to participate in upstream development in the area in six years.

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Transocean (NYSE:RIG) wins 10-year contracts for four newbuild ultra-deepwater drillships from Royal Dutch Shell (RDS.A). The deals should contribute an estimated revenue backlog of $7.6 billion. Shipyard delivery for the first drillship should occur in mid-2015.

Enbridge (NYSE:ENB) has been awarded a contract worth C$150 million to supply additional facilities at the Athabasca Terminal for Suncor Energy (NYSE:SU). Through the terms, the former will build a new 350,000 barrel capacity tank, along with additional infrastructure which includes new booster pumps, meters and modifications to current piping and manifolds.

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