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10 September 2019
Bumi Armada Sells Armada Perdana FPSO
Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad announced its wholly-owned subsidiary Armada Oyo Limited (“AOL”) has entered into an agreement with Century Energy Services Limited (“CESL”) for the sale of the Armada Perdana FPSO for a consideration of USD40 million. CESL plans to redeploy the vessel…
10 September 2019
DeepOcean Announces Split of DeepOcean UK into a Seabed Trenching Division and Subsea Cables Division
DeepOcean Group announced its intent to split DeepOcean UK into two entities, creating DeepOcean Subsea Cables and a new division with a standalone brand for its world-leading seabed intervention and trenching business.The split and new brand announcement are scheduled to be finalized within 2019. It will see the existing Cable…
9 September 2019
£400million Worth of Contracts sees PD&MS Increase Headcount by 40%
International engineering consultancy PD&MS Group has secured long term contracts in excess of £400million in the past 12 months. The new and renewed awards have resulted in over 100 additional personnel being employed to support projects in the North Sea and Azerbaijan. The business forecasts at least another 150 personnel…
9 September 2019
CGG Awarded Offshore Eastern Canada Imaging Project by BHP
Subsurface Imaging, part of CGG’s Geoscience division, has been awarded a large-scale seismic imaging project in the offshore Orphan Basin in Eastern Canada by BHP.In line with its continued investments in high-end imaging technology, supercomputing capacity and digitalization, CGG will employ its industry-leading FWI and least-squares migration algorithms over the…
9 September 2019
European Cooperation on Carbon Capture and Storage
Equinor has, on behalf of the partners of the Northern Lights project, signed memoranda of understanding with seven European companies to develop value chains in carbon capture and storage.Equinor, in cooperation with its partners Shell and Total, is studying the possibilities for developing a CO₂ storage on the Norwegian continental…
9 September 2019
Cooper Energy: New Gas Field Discovery at Annie
Cooper Energy as Operator of VIC/P44 (Cooper Energy 50% interest holder, Mitsui E & P Australia 50% interest) announced that the exploration well Annie-1 has made a new gas field discovery in the Otway Basin offshore Victoria. The well reached total depth (TD) of 2,442 metres measured depth rotary table…
9 September 2019
TGS and Schlumberger Announce New 3D Multi-client Reimaging Project in Egyptian Red Sea
TGS and Schlumberger announced a new 3D seismic reimaging project in the Egyptian Red Sea. The project will comprise reimaging data from three overlapping seismic surveys totaling 3,600 km² that was acquired between 1999 and 2008 - the only available 3D data in this part of the Red Sea. It…
9 September 2019
SBM Offshore Signs Long-term FPSO Supply Agreement with ExxonMobil
SBM Offshore and ExxonMobil signed a Long-Term Agreement covering potential future FPSO orders. This agreement is non-exclusive and establishes the general legal framework and specific terms in relation to the engineering, procurement, construction and installation work regarding potential future contracts relating to leased FPSOs, which includes Build-Operate-Transfer projects that generally…
9 September 2019
Subsea 7 Awarded Contracts Offshore Saudi Arabia
Subsea 7 S.A. announced the award of three contracts, together representing a sizeable(1) award for Subsea 7, by Saudi Aramco under the Long Term Agreement between the parties for execution offshore Saudi Arabia. The engineering, procurement, construction and installation (EPCI) contracts are awarded for execution in consortium with L&T Hydrocarbon…
9 September 2019
Ashtead Technology Acquires Underwater Cutting Solutions
Ashtead Technology has further expanded its inspection, maintenance and repair (IMR) and decommissioning capabilities with the acquisition of Underwater Cutting Solutions (UCS) for an undisclosed sum.This is the fifth deal completed by the international subsea equipment and solutions specialist since the firm was acquired by Buckthorn Partners and APICORP in…
9 September 2019
Providence Resources P.l.c.: Barryroe Site Survey Commences
Providence Resources P.l.c., the Irish based Energy Company, provided an operational update in relation to Standard Exploration Licence (“SEL”) 1/11 which contains the Barryroe oil accumulation. SEL 1/11 is operated by EXOLA DAC (“Operator”, 40%), a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited and Lansdowne…
9 September 2019
Launch of the Giant Arctic LNG 2 Development
Total, Novatek and the other project shareholders have approved the final investment decision (FID) for Arctic LNG 2, a major liquefied natural gas (LNG) development located on the Gydan peninsula, Russia. The project will have a production capacity of 19.8 million tons per year (Mt/y) and is expected to export…
9 September 2019
Cooper Energy Awarded Gippsland Basin Offshore Exploration Permit VIC/P75
Cooper Energy announced it has been awarded the offshore exploration permit VIC/P75 located in the Gippsland Basin, offshore Victoria.VIC/P75 is in the central area of the Gippsland Basin surrounded by major oil and gas fields including the Marlin, Snapper and Barracouta gas fields to the north and the Kingfish and…
9 September 2019
Wood Mackenzie: Has M&A Created Value in the North Sea?
Since the turn of the decade, it’s been a frenetic period for M&A in the North Sea. Against a backdrop of oil price volatility and a dramatically changing corporate landscape, activity reached record levels. But have acquisitions created value so far?Wood Mackenzie recently analysed 55 of the largest North Sea…
9 September 2019
Drilling Permit for Well 9/2-12 in Production Licence 910
The Norwegian Petroleum Directorate has granted Repsol Norge AS a drilling permit for well 9/2-12, cf. Section 15 of the Resource Management Regulations.Well 9/2-12 will be drilled from the Scarabeo 8 drilling facility in position 57°52'28.97"N and 4°33'11.52"E.The drilling programme for well 9/2-12 relates to the drilling of wildcat wells…
9 September 2019
Northern Offshore, Ltd. Announces Letter of Award for Jack-up ENERGY EMERGER
Northern Offshore Drilling Operations, Ltd., a wholly owned subsidiary of Northern Offshore, Ltd., announced a firm Letter of Award (“LOA”) for the high-specification jack-up drilling unit “Energy Emerger” for work offshore Abu Dhabi in the United Arab Emirates. The term of the award is for four years. The Energy Emerger…
9 September 2019
Accelerating Start-up Schedule for Johan Sverdrup
Equinor and its partners are preparing for production start from the world class Johan Sverdrup field already in October this year, one month ahead of schedule. Equinor also presents updated operating costs and strong cash flow estimates for the initial year of production. The Johan Sverdrup development continues to progress…
9 September 2019
Equinor Launches a USD 5 billion Share Buy-back Programme
Equinor is launching a share buy-back programme of up to USD 5 billion over a period until the end of 2022. The first tranche of the programme of around USD 1.5 billion is commencing today and will end no later than 25 February 2020.“Equinor is committed to capital distribution to…
9 September 2019
Allseas Chooses WFS Technologies’ Seatooth® Pipelogger for Major Subsea Pipeline Project
Allseas, a global leader in offshore pipeline installation, heavy lift and subsea construction, has chosen WFS Technologies’ new Seatooth® Pipelogger for the real time measurement of process temperature on a subsea pipeline system which they have installed recently. The pipeline system is designed to have a total gas throughput capacity…
9 September 2019
TWMA Secures £20 million of North Sea Contracts
Specialist drilling waste management company, TWMA, has secured new contracts valued at £20 million in the North Sea in the first eight months of 2019. In order to support the new business won this year, TWMA has invested more than £10 million into new equipment and facilities. The contracts, with…
9 September 2019
Continued Significant Interest in Exploration in Mature Areas in APA 2019
The authorities have received applications from 33 companies in the Awards in Predefined Areas (APA) 2019.The deadline for applications was 27 August.Most of the companies that are active on the Norwegian shelf have submitted applications in this year’s APA round.Interest in the Norwegian Sea and the Barents Sea is comparable…
9 September 2019
Upstream Renaissance for the UK Offshore Sector
Having had tens of thousands oil and gas professionals gather in Aberdeen for the biannual SPE Offshore Europe conference & exhibition, the UK offshore scene is poised for a timely comeback.Rystad Energy expects a new wave of UK field development projects to be sanctioned towards 2022. The independent energy research…
9 September 2019
Dry Well South of the Oseberg Field in the North Sea – 30/12-2
Aker BP ASA, operator of production licence 986, has completed the drilling of wildcat well 30/12-2.The well was drilled about 70 kilometres south of the Oseberg field centre and 160 kilometres west of Bergen in the northern part of the North Sea.The objective of the well was to prove petroleum…
9 September 2019
Fugro Awarded Multi-annual Marine Site Characterisation Project off the German Coast
Germany's Federal Maritime and Hydrographic Agency (Das Bundesamt für Seeschifffahrt und Hydrographie (BSH)) has awarded Fugro a multi-annual geotechnical site investigation contract in the German North Sea and Baltic Sea.The programme will be completed in three phases over the next 3 years and comprises geotechnical investigations at potential offshore wind…
9 September 2019
Sonadrill Joint Venture Contract Award
Sonadrill Holding Ltd, Seadrill Limited’s 50:50 joint venture with an affiliate of Sonangol E.P., has secured a nine well contract with six options, each for one well, in Angola for the Libongos drillship. The estimated total contract value is $101 million with commencement expected late Q3 2019 and running to…
9 September 2019
Equinor – Consent for the Use of Rowan Stavanger – Gudrun
Petroleum Safety Authority Norway have given Equinor Energy consent to use the Rowan Stavanger mobile drilling facility on the Gudrun field.The consent applies to the drilling of production wells on the Gudrun field in the North Sea.Drilling is scheduled to begin in September 2019.Rowan Stavanger is a jack-up facility of…
9 September 2019
Solstad Offshore ASA: Contract Extension for CSV Normand Pacific
Solstad Offshore ASA announced that Prysmian Powerlink Srl has exercised their option to extend the firm contract for CSV Normand Pacific with two years. The firm period will expire on the December 31st 2021. In addition, Prysmian has the option to extend the contract with 3 years beyond the firm…
9 September 2019
Wood Secures Contract Extension with TAQA in UK North Sea
Wood has been awarded a contract extension for engineering, construction and maintenance services on TAQA’s North Sea assets.Effective immediately, the 18-month extension builds on a previous agreement covering the Cormorant Alpha, Eider, Tern, North Cormorant and subsequently Harding offshore assets, and will see Wood’s activities continue to support these installations.The…
9 September 2019
Tata Steel Wins Line Pipe Contract for North Sea Field
Tata Steel has secured a multi million pound contract to provide high frequency induction (HFI) line pipe for a gas condensate field in the Central North Sea. Under the scope of work, Tata Steel has been commissioned to provide more than 55km of 18” carrier pipe for a pipe in…
9 September 2019
Airborne Oil & Gas Secures TCP Flowlines Contract with Supermajor in West Africa
Airborne Oil & Gas B.V. has been awarded a large contract from a supermajor through Oceaneering International Inc to supply Thermoplastic Composite Pipe (TCP) flowlines for deployment in West Africa. It is believed to be the first TCP solution of this type utilised in the region and expected to save…
9 September 2019
Aker BP – Use of Facilities on the Bøyla Field
Petroleum Safety Authority Norway have given Aker BP consent to use facilities on the Bøyla field in the North Sea.The consent covers facilities for test production from the Frosk deposit, in the Bøyla field. Frosk was proven by well 24/9-14 in 2018. Test production is scheduled to begin in August…
9 September 2019
Aker BP – Use of Deepsea Stavanger - Ærfugl
Petroleum Safety Authority Norway have given Aker BP consent to use the Deepsea Stavanger mobile drilling facility on the Ærfugl field in the Norwegian Sea.The consent applies to the drilling of up to six production wells. Drilling is scheduled to begin in the second half of September 2019.Deepsea Stavanger is…
9 September 2019
DNV GL Awarded Major Verification Services Contract with Apache
Apache Corporation has awarded DNV GL a new verification services contract. The contract, which has a primary term of three years, and two one year extension options, involves operations and project verification for all Apache’s North Sea assets; Beryl A & B and Forties A, B, C, D & E.DNV…
9 September 2019
Maersk Drilling Awarded One-well UK Contract by Petrogas
Maersk Drilling announced that it has entered a contract with Petrogas North Sea Ltd. to drill an appraisal well at the Birgitta field in the Central part of the UK North Sea. The contract value is USD 7.6m.The contract is expected to commence in March 2020, with an estimated duration…
9 September 2019
Maersk Decom and Maersk Supply Service to Provide Thames Decommissioning
Maersk Decom, together with Maersk Supply Service, is project managing the removal, recycling and waste management of subsea infrastructure for Perenco’s Thames field in the UK North Sea. The project includes the cut and recovery of wellheads and wellhead protection structures, as well as end-to-end recycling and waste management. It…
9 September 2019
Aker Solutions Launches Intelligent Subsea to Accelerate Offshore Developments and Maximize Performance
On 3rd September, Aker Solutions launched its Intelligent Subsea offering designed to accelerate field development and maximize performance.The industry has standardized, simplified and reduced the size of equipment in recent years, but a further step-change is needed to drive a sustainable future for the subsea industry and the world it…
9 September 2019
Green Light for Giant Field
The Norwegian Petroleum Directorate has granted its consent for start-up of the Johan Sverdrup field in the North Sea. The field is expected to produce oil for the next 40 years.Operator Equinor plans start-up sometime this autumn for the first phase of the field development. Construction phase two is slated…
5 September 2019
TMC Compressors to FLNG Gimi
International compressor supplier TMC Compressors of the Seas (TMC) has been awarded a contract to supply the offshore market’s most energy efficient compressed air system to Golar LNG’s Gimi FLNG vessel which will operate offshore Mauritania and Senegal.FLNG Gimi is currently undergoing a conversion from a Moss LNG carrier to…
5 September 2019
Oceaneering Announces New Site for Aberdeen Operations
Oceaneering International, Inc. announced that its Aberdeen operations will be streamlined by combining seven properties into one office location and a new, purpose-built workshop. The relocation efforts will enable Oceaneering to support continued growth in the U.K., Europe, Africa, and Middle East regions and underpin Oceaneering’s direct commitment to the…
5 September 2019
PGNiG Starts its First Drilling as Operator in Norwegian Sea
On August 30th, PGNiG Upstream Norway, a PGNiG Group company, started drilling an exploration well in licence area PL838 (the Shrek prospect) on the Norwegian Continental Shelf, for the first time in the role of the operator.It is the first exploration well in this licence area, located in the vicinity…
5 September 2019
Sembcorp Marine Clinches S$400 Million New Contracts
Sembcorp Marine has won a raft of new projects valued at S$400 million that leverage the Group’s wide-ranging engineering solutions for offshore gas and wind farm developments as well as cruise ship upgrades.In these latest undertakings, Sembcorp Marine has teamed up with various repeat and new customers. The Group also…
5 September 2019
Seadrill Limited Announces Contract Award for the West Neptune
Seadrill Limited has secured a one year contract with LLOG Exploration Offshore, L.L.C., for the West Neptune operating in the US Gulf of Mexico. Total contract value is expected to be approximately $74 million with commencement in December 2019, in direct continuation of the existing contract with LLOG.
5 September 2019
Equinor Completes Sale of Shares in Lundin Petroleum and Acquisition of Further Direct Interest in Johan Sverdrup Field
Equinor and Lundin have completed both parts of the transaction announced on 7 July 2019. This follows all transaction conditions being met, including government and regulator approvals.The overall result is that Equinor has divested a 16 percent shareholding in Lundin for a direct interest of 2.6 percent in the Johan…
5 September 2019
Subsea 7 Awarded Contract Offshore Brazil
Subsea 7 S.A. announced the award of a sizeable(1) contract by Total E&P do Brasil(2) for the development of the Lapa North East field located approximately 300 kilometres off the coast of the State of São Paulo, at 2,150 metres water depth in the pre-salt Santos Basin.The work scope includes…
5 September 2019
Offshore Oil and Gas Operating Costs and Expenditure Remaining Stable
Operating costs, efficiency and expenditure on the UK Continental Shelf (UKCS) remained stable in 2018, according to a new report by the Oil and Gas Authority (OGA).The UKCS Operating Costs 2018 report has, for the first time, been delivered in an interactive online dashboard. The findings include:Total UKCS operating expenditure…
4 September 2019
Geoquip Marine Adds Second DP2 OSV to its Fleet and Announces Significant New Board Appointment
More positive news from leading offshore geotechnical engineering and drilling company Geoquip Marine, which has bolstered its recent record growth by adding a second DP2 OSV to its fleet and announced a significant new appointment to its board of Directors.The new vessel Geoquip Speer, which is the second DP2 Multi-Purpose…
4 September 2019
Weatherford Signs $80 Million Liner-Hanger Frame Agreement With Equinor
Weatherford International plc announced it has signed an $80 million liner-hanger frame agreement with Equinor, a Norwegian-based international energy company. The four-year deal represents the largest liner-hanger frame agreement ever signed by Weatherford.Mark Hopmann, President of Completions for Weatherford said, "Weatherford is the market leader for liner-hanger technology across the…
4 September 2019
M&A Shake-up on the Horizon for the Australian Upstream Sector
Australians love a good yarn, a chinwag, a chat. But it’s not sports or politics that’s making the ‘goss’ in the oil & gas boardrooms of Perth right now. ConocoPhillips divesting its Darwin LNG stake is the latest rumour doing the rounds, and there’s plenty more potential M&A activity to…
4 September 2019
VAALCO Energy Provides Operational Update
VAALCO Energy, Inc. provided an operational update with additional details on the commencement of its 2019/2020 drilling program, the successful completion of its full-field annual maintenance shutdown at Etame, and the extension of the lease contract for the floating, production, storage and offloading vessel (“FPSO”) Petróleo Nautipa offshore Gabon. Key…
4 September 2019
Panoro Announces 89% Increase in 2P Oil Reserves at the Dussafu PSC, Offshore Gabon
Panoro Energy ASA announced the release of a mid-year update of the oil reserves report from independent reserves auditor Netherland, Sewell & Associates Inc. (“NSAI”) on certain fields located within the Dussafu Production Sharing Contract (the "Dussafu PSC"), offshore Gabon.The 2P gross reserves at Dussafu PSC have increased by 31.2…