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13 February 2018
Parkmead Increases Stake in Perth and Dolphin Oil Fields to 100% and Signs Agreement with Nexen Petroleum to Study Potential Tie-Back
Parkmead, the UK and Netherlands-focused independent energy group, is delighted to announce it has significantly increased its equity in the Perth and Dolphin oil fields in the UK Central North Sea. The Perth and Dolphin fields lie at the core of Parkmead’s Greater Perth Area (“GPA”) oil hub project. The…
13 February 2018
Hibiscus Petroleum on Track to Drill its First Side-Track Well in the Anasuria Cluster
Hibiscus Petroleum Berhad announced that its jointly-controlled operating company, Anasuria Operating Company Limited (“AOC”) is on track to execute and complete the Guillemot A GUA-P2 side-track well, a planned production enhancement project at the Anasuria Cluster concession off the U.K. North Sea, which will unlock 1.01 MMbbls from its current…
13 February 2018
Aker Solutions Wins Services Contract from Petrobras in Brazil
Aker Solutions won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil, expanding its business in a key international market.The four-year contract is valued at about NOK 800 million and includes an option for a one-year extension. The order covers…
13 February 2018
Statoil: Drilling Permit for Well 16/1-29 S in Production Licence 167
The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum AS a drilling permit for well 16/1-29 S, cf. Section 15 of the Resource Management Regulations.Well 16/1-29 S will be drilled from the Deepsea Bergen drilling facility at position 58°58’ 22.23’’ north and 02°17’ 44.15” east.The drilling programme for well 16/1-29…
13 February 2018
Royal IHC Hits First Milestones for Subsea 7 Reel Lay Vessel
Royal IHC has successfully passed the first significant milestones in the design and build process of an integrated reel lay vessel for Subsea 7. The technologically advanced ship is intended for the installation of complex rigid flowlines, including pipe-in-pipe and electrical trace heating systems. This cost-effective technology will address the…
13 February 2018
Carnarvon Petroleum - Labyrinth Project: Prospective Resource Update
The Labyrinth project is located in the Rowley Sub-basin, offshore Western Australian on the North West Shelf, north of Carnarvon’s Roc and Phoenix South hydrocarbon discoveries, with water depths between 200 and 500m.Carnarvon Petroleum Limited is pleased to provide an update on the prospective resources in the Labyrinth project (WA-521-P…
12 February 2018
Renewables: Aker Solutions Expands Into Offshore Floating Wind
Aker Solutions invested in floating wind power technology company Principle Power Inc., forming an alliance that brings its offshore oil and gas field engineering expertise into a fast-growing renewable energy market.Aker Solutions has an extensive track record in developing offshore oil and gas fields, with particular capabilities in floating facilities.…
12 February 2018
Statoil: Further Increasing Value of Johan Sverdrup
Statoil and partners further increase the value of the Johan Sverdrup field as a result of continued high quality in project execution, good drilling efficiency and further maturation of the resource base.The Johan Sverdrup development is now nearly 70% complete, which is according to plan, and investment costs are continuing…
12 February 2018
Kosmos Energy Refinances Its $1.5 Billion Reserve Based Lending Facility
Kosmos Energy announced that it has refinanced its reserve based lending (RBL) facility. The RBL facility, which previously incorporated only the company’s Ghana assets, now includes the recently acquired producing assets in Equatorial Guinea as well as allowing the company the future flexibility to include the Greater Tortue development post…
12 February 2018
Petrofac Awarded Follow-on Well Decommissioning Project
Petrofac has been appointed to provide outsourced Well Operator Services on the next phase of Tullow Oil’s Thames Decommissioning project, following the award of a new multi-million dollar contract.Under the terms of the award, Petrofac will provide well engineering project management services and fully execute plug and abandonment operations on…
12 February 2018
Kvaerner Awarded Two Contracts for Disposal of Platforms
Kvaerner has entered into an agreement with Allseas for the recycling of the topside and bridge of the 36-year-old Valhall QP platform when Allseas removes this installation for operator Aker BP in 2019. The structures will be deconstructed during winter 2019 and spring 2020.Kvaerner has also signed a contract with…
12 February 2018
Benthic Awarded Contract in the Caspian
Benthic, a global geosciences company, has secured a contract for an offshore geotechnical investigation in the proposed Azeri Central East platform location in the Caspian. Benthic will execute the geotechnical scope of work from the Topaz Caspian Supporter in Q1 2018. The Benthic Portable Remotely Operated Drill (PROD) will collect…
12 February 2018
Repsol Sinopec Chooses Sparrows Group for Crane Management on North Sea Assets
International specialist equipment and integrated engineering services company, Sparrows Group, has secured a three-year contract with Repsol Sinopec Resources UK Limited to provide crane management services across its operating assets in the North Sea.The award, which was won by competitive tender, will see Sparrows deliver crane operations and maintenance services…
12 February 2018
Ocean Installer Secures Major Contracts from Statoil
Ocean Installer continues building on its strong track record on the Norwegian Continental Shelf, securing two substantial SURF contracts with Statoil.The company has secured two contracts, comprising work from 2018 through 2020 on the Snorre, Troll, Njord, Åsgard, Bauge, Fenja and Dvalin fields.The first contract is for Subsea Lines Modification…
12 February 2018
Deep Sea Mooring Picks Up Quadrant Contract
Deep Sea Mooring (DSM) has secured a contract with Quadrant Energy to provide turnkey pre-lay mooring solutions to the Transocean GSF Development Driller 1 semisubmersible drilling rig offshore Australia. The deal - a continuation of previous work for Quadrant Energy - begins in March 2018.The agreement - with the project…
12 February 2018
Floating Decommissioning Market Study Published
Energy ports and supply chain companies across Scotland are expected to benefit from a new study published 5th February 2018 into decommissioning opportunities in the oil and gas sector.The study focuses primarily on oil and gas floating assets including FPSO platforms, MODUs and semisubmersible platforms, which could present a niche…
12 February 2018
Renewables - Seaproof Solutions: Contract Extension for Hornsea Project One Offshore Wind Farm
Seaproof Solutions has been awarded a contract extension to supply all inter array cable protection systems (CPS) for Ørsted’s 1.2GW Hornsea Project One offshore wind farm in the UK - the world's biggest wind farm.The wind farm, located 120km off the Yorkshire Coast in UK, will be capable of providing…
12 February 2018
Sapura Energy Bags Several Contracts Worth RM905 million
Sapura Energy Bhd, formerly known as SapuraKencana Petroleum Bhd, have been awarded contracts with a combined value of about RM905 million for engineering, procurement, construction and commissioning as well as transportation and installation works.Sapura Fabrication Sdn Bhd has secured three EPCC contracts for Kinarut ERB West Compressor upgrading project and…
6 February 2018
CNOOC Limited Announces Stampede Field Commences Production
CNOOC Limited announced today that the Stampede Field has commenced production.The Stampede Field is located in the deepwater Gulf of Mexico, approximately 185 kilometers south of Fourchon, Louisiana, U.S.A. It is positioned in approximately 1,066 meters of water, with a reservoir depth of 9,100 meters.The facility is designed for a…
6 February 2018
Qatar Petroleum joins Total as a partner in the Exploration Block 11B/12B in South Africa
Total has signed an agreement to sell a 25% interest in the Exploration Block 11B/12B, offshore South Africa, to Qatar Petroleum. The transaction remains subject to regulatory approval.The Block 11B/12B is located in the Outeniqua Basin, around 175 kilometers off the southern coast of South Africa, and covers an area…
6 February 2018
Total Enters Exploration In The Prolific Guyana Basin With Three Exploration Licences
Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area…
5 February 2018
TGS Announces Mexico Well Data Award
TGS announces that it has obtained commercial authorization from the Mexican regulator, Comisión Nacional de Hidrocarburos (CNH), to process its entire library of more than 30,000 wells in Mexico. This award grants TGS the right to process and deliver high-quality, high-value well data products to companies exploring in offshore and…
5 February 2018
Faroe Petroleum: Fogelberg Appraisal Well Commences Drilling in the Norwegian Sea
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, is pleased to announce the commencement of the Fogelberg appraisal well and contingent sidetrack 6506/9 – 4A & 4S in the Norwegian North Sea (Faroe 28.3%).Faroe announced…
5 February 2018
Kosmos Energy Finishes Drilling Requin Tigre-1 Exploration Well Offshore Senegal
Requin Tigre-1 was drilled to a total depth of 5,200 meters and was designed to evaluate Cenomanian and Albian reservoirs in a structural-stratigraphic trap, charged from an underlying Neocomian-Valanginian source kitchen. The prospect was fully tested but did not encounter hydrocarbons. Post-well analysis is currently ongoing to determine the reasons…
5 February 2018
Offshore Decommissioning in Asia Pacific Could Cost US$100 billion
According to Wood Mackenzie's latest analysis, decommissioning Asia Pacific's offshore assets – nearly 2,600 platforms and 35,000 wells – could cost over US$100 billion.Decommissioning in Asia Pacific appears to be a mammoth task for which the various stakeholders are largely unprepared. Unclear government regulations coupled with a general lack of…
5 February 2018
Scotian Basin Exploration Drilling Project — Environmental Assessment Decision
The Government of Canada is working to protect the environment for future generations while growing our economy.The Honourable Catherine McKenna, Minister of Environment and Climate Change, announced that the proposed Scotian Basin Exploration Drilling Project is not likely to cause significant adverse environmental effects and the project can proceed. The…
5 February 2018
Bowleven: Etinde - Rig Contract
Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce a key milestone in the appraisal drilling campaign of its Etinde asset, in which the Company holds a 25% offshore interest.The Company's partner, New Age Cameroon Offshore Petroleum S.A., a wholly owned subsidiary of…
5 February 2018
Fugro's Rig Positioning Services Reduce Mobilisation Time for Statoil
Fugro has won a long-term contract for the provision of rig positioning services to Statoil Petroleum AS. The contract includes positioning of all the Statoil operated rigs on the Norwegian continental shelf together with the company’s associated vessels.Fugro’s specialised satellite positioning systems, utilising all available navigation satellites (GPS, GLONASS, Beidou…
5 February 2018
Diamond in Talks to Provide Sea Lion Rig for Premier Oil
Houston-based Diamond Offshore Drilling could provide a drilling rig for Premier Oil’s planned Sea Lion development off the Falkland Islands.Joint venture partner Rockhopper Exploration revealed Monday a letter of intent had been signed for Diamond to provide “a suitable drilling unit” for the first phase of development at Sea Lion.The…
5 February 2018
Nord Stream 2 Receives Permit for German Territorial Waters
Nord Stream 2 AG received the construction and operation permit for the planned pipeline in German territorial waters and the landfall area in Lubmin, near Greifswald. The Stralsund Mining Authority issued the official approval for this approximately 55-kilometre-long section of the pipeline in accordance with the Energy Industry Act (EnWG).In…
2 February 2018
Ocean Installer Signs Johan Castberg Contract with Statoil
Statoil ASA has awarded Ocean Installer a substantial contract for marine operations on the Johan Castberg project in the Barents Sea.Johan Castberg is amongst the largest subsea projects ever to be developed on the Norwegian Continental Shelf. The field developments spans Skrugard, Havis and Drivis, located approximately 240 km from…
2 February 2018
Renewables - Ørsted: Full power at Race Bank Offshore Wind Farm
Full power output has been achieved at Ørsted’s Race Bank Offshore Wind Farm, located off the North Norfolk coast.Installation of the wind turbines at Race Bank first began in May 2017 and following successful completion of the 240-hour acceptance tests of all 91 turbines, and the 200-hour test of the…
2 February 2018
Repsol Purchases a Stake in Norway’s Visund Field
Repsol has reached an agreement with Total to acquire its 7.7% stake in the Visund field, located in the North Sea.With this transaction, Repsol´s net output in Norway will grow to approximately 30,000 barrels of oil equivalent a day, which represents an increase of around 40% in production in the…
2 February 2018
Energean Signs US$180m RBL Facility with EBRD, BSTDB, EximBank Romania and Intesa Sanpaolo Bank to Develop Prinos Basin
Loan agreement finances further development of the Prinos, Prinos North and Epsilon oil fields. Energean Oil & Gas is pleased to announce that it has signed a reserves-based senior facility agreement, amounting to US$180 million, with the European Bank for Reconstruction and Development (“EBRD”), the Black Sea Trade and Development…
2 February 2018
Statoil: Contracting Rig for Barents Sea Exploration
Statoil and the licence partners have signed a contract with North Atlantic Norway Ltd for use of the 6th generation West Hercules rig.The West Hercules semi-submersible rig has been contracted for drilling two exploration wells in the Barents Sea in 2018, and options to drill another five exploration wells.The total…
2 February 2018
TechnipFMC and Island Offshore Subsea AS Acquisition
TechnipFMC and Island Offshore Enter into a Strategic Collaboration Agreement for Riserless Light Well InterventionTechnipFMC has signed an agreement with the Island Offshore group to acquire a 51% stake in Island Offshore’s wholly owned subsidiary, Island Offshore Subsea AS. Island Offshore Subsea AS provides Riserless Light Well Intervention (RLWI) project…
2 February 2018
GC Rieber Shipping ASA: 3-year charter for Polar Onyx with Deepocean
GC Rieber Shipping has entered into a time charter agreement with Deepocean BV for the SURF vessel Polar Onyx for a fixed period of three years with options to extend by up to two years.The Polar Onyx will be used in Ghana to support Deepocean's contract with Tullow Oil. Commencement…
2 February 2018
CNOOC Limited Announces its 2018 Business Strategy and Development Plan
CNOOC Limited’s net production target for 2018 is 470 million to 480 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 64% and 36%, respectively. The Company’s net production for 2017 is expected to be approximately 469 million BOE. The Company’s net production…
2 February 2018
Rystad Energy: Phoenix Rising - UK Offshore Industry Poised for Surge of FIDs
The UK offshore oil and gas industry is stirring back to life, fueled by a robust uptick in the number of field development projects on which operators are expected to reach a final investment decision (FID) this year.According to research from Rystad Energy, 13 UK fields are expected to be…
1 February 2018
i3 Energy plc: Funding Update
i3 Energy has been progressing multiple funding options to finance its 2018 development programme and is pleased to report that it is in advanced discussions with multiple industrial parties regarding potential Joint Venture ("JV") arrangements relating to both its 100% owned Liberator Oil Field and its application within the UK's…
1 February 2018
LUKOIL Commissioned First Production Well at the Phase 2 of Filanovsky Field
LUKOIL has completed the construction and commissioning of the first well at the Phase 2 of Vladimir Filanovsky field in the Caspian Sea.This is a production single bore horizontal well with the measured depth of 3.5 kilometers. The horizontal section of the well is 1.2 kilometers. The initial well flow…
1 February 2018
FAR Ltd: Q4 Report (01 October – 31 December 2017)
RSSD (Rufisque, Sangomar and Sangomar Deep) Senegal (FAR 15%)During the quarter, the RSSD joint venture confirmed completion of the SNE field appraisal and progressed predevelopment activities for the first phase of development. The extensive SNE field with an area covering approximately 350km2 has been assessed by FAR to contain 640mmbbls…
1 February 2018
Independent Oil and Gas: Operational Update
Blythe and Vulcan Satellites Hub DevelopmentsIOG continues to make progress at its two 100% owned gas hubs, which consist of five fields with independently verified 2P reserves of 303 BCF. The Environmental Impact Assessment has been submitted for the Blythe hub, which includes the Blythe and Elgood fields, in line…
1 February 2018
Hess Announces 2018 E&P Capital and Exploratory Budget
The $2.1 billion budget is allocated as follows: $1,170 million (56 percent) for production, $555 million (26 percent) for offshore developments and $375 million (18 percent) for exploration and appraisal activities.Production$900 million primarily to increase from four rigs to six rigs by the end of 2018 and to drill approximately…
31 January 2018
Aker BP ASA: Drilling Permit for Well 6507/5-8 in Production Licence 212
The Norwegian Petroleum Directorate (NPD) has granted Aker BP ASA a drilling permit for well 6507/5-8.The drilling programme for well 6507/5-8 relates to the drilling of a wildcat well in production licence 212. Aker BP ASA is the operator with an ownership interest of 30 per cent. The other licensees…
31 January 2018
Statoil: Visund - Consent for use of Deepsea Atlantic for Production Drilling
Visund is an oil and gas field located east of the Snorre field in the northern sector of the North Sea. The development comprises a semi-submersible, integrated quarters, drilling and processing facility in steel (Visund A). Production began in 1999. The northern part of Visund has been developed using a…
31 January 2018
KBR: Johan Sverdrup Final Major Accommodation Modules Installed
After the recent successful load out of the Living Quarters (LQ) topside, the KBR Kvaerner Joint Venture (K2JV) saw another significant milestone in January 2018 for the Statoil, Johan Sverdrup LQ Topside EPC Project: the safe arrival, lift and installation of the four main accommodation modules.The modules, with a combined…
31 January 2018
North Sea Exploration Success for BP
The discoveries are Capercaillie, in Block 29/4e in the Central North Sea, and Achmelvich, in Block 206/9b west of Shetland. BP is 100% owner of Capercaillie and the Achmelvich well partnership comprises BP (operator, 52.6%), Shell (28%) and Chevron (19.4%).Both wells were drilled by the Paul B Loyd Junior rig…
31 January 2018
Chevron Announces Major Oil Discovery in Deepwater Gulf of Mexico
Chevron Corporation announced a significant oil discovery at the Ballymore prospect in the deepwater U.S. Gulf of Mexico.Ballymore is located in the Mississippi Canyon area of the U.S. Gulf of Mexico, approximately three miles from Chevron’s Blind Faith platform, in water depth of 6,536 feet. The initial Ballymore well reached…
31 January 2018
Premier Oil: Award of the Andaman II Licence, Indonesia
Further to the announcement by the Government of Indonesia, Premier is pleased to confirm that it, together with its joint venture partners Mubadala Petroleum and Kris Energy, has been awarded the Andaman II Licence in the 2017 Indonesian Licence Round. The Andaman II licence is located in the underexplored but…