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9 February 2017
Falklands' Oil Exploration: Rockhopper Announces Investments in Sea Lion
Rockhopper Exploration plc has provided its latest operational and corporate update which includes the North Falkland Basin Sea Lion project and has announced that the technical engineering is approaching conclusion and a settlement on the Eirik Raude rig dispute has been reached.In effect, the front end engineering and design (FEED)…
9 February 2017
DeepOcean Announces Completion of 'Ground Breaking' 3D Laser Survey
ADUS DeepOcean, a subsidiary of DeepOcean Group Holding BV, announced on Wednesday 8 February the completion of a “ground breaking” 3D laser survey offshore Ghana.The deepwater subsea 3D laser survey off the West Coast of Africa for Tullow Oil is the first extensive commercial survey of its kind, heralding a…
9 February 2017
Aker Solutions ASA: Fourth-Quarter Results 2016
Financial Highlights Sales NOK 6.1 billion in 4Q 2016 vs NOK 7.9 billion in 4Q 2015 EBITDA NOK 380 million vs NOK 182 million a year earlier EBITDA margin 6.2% vs 2.3% a year earlier EBITDA margin ex. special items 8.8% vs 8.9% a year earlier Loss before interest and…
9 February 2017
First Electricity Delivered from Dudgeon Offshore Wind Farm
Up to 6,000 homes in UK are now receiving electricity from the first producing wind turbine on Dudgeon Offshore Wind Farm. When fully operational later in 2017 the offshore wind farm will provide electricity to over 400,000 homes.After a successful installation of the first wind turbine in early January, operator…
8 February 2017
Siem Offshore Contractors Completes Cable Installation Works on the Veja Mate Offshore Wind Farm
Siem Offshore Contractors (SOC) is pleased to announce that all 73 inner array grid cables of the Veja Mate Offshore Wind Farm have been installed and trenched 10 weeks ahead of schedule.The submarine composite cables were successfully installed since 01-Oct-2016 using the “Siem Duo” consisting of the Cable Lay Vessel…
8 February 2017
India's SPR Ambitions Gather Momentum
The Indian government has moved to exempt overseas firms from paying income tax on the local sale of stock left in the country’s strategic petroleum reserves (SPRs) at the end a company’s storage contract. The proposal is aimed at encouraging foreign players to book capacity in Indian SPRs.The fiscal incentive…
8 February 2017
Aker Solutions Secures Two Global Engineering Framework Accords From BP
Aker Solutions was awarded two framework agreements to provide concept and front-end engineering (FEED) services for BP globally.The first contract is for feasibility and concept engineering and the second is for FEED services covering the full range of upstream developments. Each agreement is for three years with options to extend…
8 February 2017
FAR Sees Tieback Potential for Near-SNE Offshore Senegal Prospects
MELBOURNE, Australia – Australian listed petroleum exploration company, FAR Limited, has received processed seismic results over the Djiffere block offshore Senegal.The company has an option agreement with Trace Atlantic Offshore to earn a 75% interest in the block, subject to approvals from the Senegalese government.It expects to be ready to…
8 February 2017
Integrated FPSO Departs BrasFELS for Lapa Field
SINGAPORE – Keppel FELS, Brasil’s BrasFELS shipyard, has delivered the FPSO P-66 to the Petrobras-led Tupi BV consortium.The vessel, which departed the shipyard on Feb. 4, will be deployed in the Lula Sul field in the deepwater Santos basin.Bras FELS’s workscope included fabrication, integration, testing, and commissioning of topsides modules.FPSO…
8 February 2017
Drilling Permit Granted for Well 16/1-27 in Production Licence 338
The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/1-27, cf. Section 8 of the Resource Management Regulations. Well 16/1-27 will be drilled from the Island Innovator drilling facility, at position 58°50’18.11” north and 2°11’56.83” east, in a southwesterly extension of the Edvard Grieg field…
8 February 2017
Iran Confirms Discovery of 15 Billion Barrels Oil Reserves at Offshore Gas Field in Gulf
Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), said that they have discovered 15 billion barrels of new in-place oil reserves, but the huge investments and state-of-the-art technology will be required to exploit the reserves.Ali Kardor also said that around 2 billion barrels of the newly-discovered…
8 February 2017
Pipeline projects in limbo as USA energy commissioner departs
Major natural gas pipeline projects along the East Coast and Midwest face uncertainty as the federal agency that oversees the work loses a commissioner and will be unable to decide on projects indefinitely under President Donald Trump.Democrat Norman Bay is stepping down Friday from the Federal Energy Regulatory Commission, leaving…
8 February 2017
Ocean Installer Wraps Up Its First Johan Sverdrup Campaign
Ocean Installer said it has recently completed the very first permanent subsea installation at the Johan Sverdrup field, marking the kick-off of the Johan Sverdrup offshore work.The offshore campaign took place late January and involved the installation of a subsea template for water injection. The template weighed 290 ton and…
8 February 2017
DOF Subsea Nets Asia Pacific Deal
DOF Subsea has been awarded a 3-year IMR frame agreement in Asia Pacific with, as the company says, one of the major oil and gas companies in the region.The company has recently secured a Safety Case for Geoholm, and the vessel will be available in the Asia Pacific region from…
8 February 2017
Agility Subsea Fabrication Secures TechnipFMC Contract for Visund North
Norwegian manufacturer of subsea equipment, Agility Subsea Fabrication (ASF), has won a contract with TechnipFMC to build an integrated subsea manifold system for the Visund North field in the Norwegian Sea.The work will be carried out at Agility Subsea Fabrication`s site in Tønsberg. The yard in Tønsberg is Agility Subsea…
8 February 2017
Point Break: E&Ps Brace For Service Cost Inflation
In the past year, the Midland and Delaware have become exclusive neighborhoods—the oil and gas industry’s Midtown Manhattan and Beverly Hills, without the view.Acquisitions in the Permian averaged $30,000 per acre in January. Companies talked up low breakeven prices and rich internal rate of returns as they entered huge deals.Now,…
8 February 2017
Offshore Drillers See Gains, But Recovery Afar
The tide is slowly changing for offshore drillers, but the sector still awaits smoother sailing based on analysts’ and company earnings reports.Houston-based Diamond Offshore Drilling Inc.’s reported Feb. 6 a profit of $73 million for fourth-quarter 2016, compared with a loss of more than $245 million a year earlier. The…
8 February 2017
Statoil strips more costs out of Johan Sverdrup development
Statoil has successful continued to drive the total costs for its flagship Johan Sverdrup development down.The firm today said it had improved the development bill from an original estimate of NOK208billion to between NOK 137-152billion.Johan Sverdrup’s phase one break-even cost is below $20 per barrel. Phase two is expected to…
8 February 2017
BP “back to growth”
The oil major recorded an underlying replacement cost fourth quarter profit of $400million. Its full year headline profit was $115million – a substantial increase on 2015’s $6.5billion loss.BP has also stripped $7billion out of its costbase since 2014, hitting its savings target a year ahead of schedule.Mr Dudley said: “2016…
8 February 2017
Egypt said to seek LNG as BP, Eni gas flow to restore exports
Egypt plans to import as many as 108 cargoes of liquefied natural gas this year as the country prepares to start producing at two gas fields and move closer to its goal of self-sufficiency and even exports by 2019.The North African nation will import 100 to 108 LNG shipments this…
8 February 2017
Solstad – Farstad – Deep Sea Supply in Major Merger
Solstad Offshore, Farstad Shipping and Deep Sea Supply will combine to create a new OSV company following completion of the Farstad restructuring, which has been agreed by Aker, Hemen, Ocean Yeild and Farstad’s senior lenders.Deep Sea Supply and Farstad Shipping will merge into and be established as individual subsidiaries under…
8 February 2017
Eni Resumes Goliat Flows
Oil company Eni Norge has resumed production from the Goliat field in the Barents Sea offshore Norway.The output from the field was stopped in December after a routine inspection of the offloading hose found some damage on segments of the hose.According to the company’s spokesperson the production of crude oil…
8 February 2017
Delek to takeover Ithaca Energy in major North Sea deal
Delek Group is set to takeover Ithaca Energy.Ithaca today confirmed it had entered into definitive support agreement with Delek for a cash takeover.Under the terms, Delek would snap-up all of the issued and to be issued common shares of Ithaca not currently owned by Delek in a $646million deal.The offer…
8 February 2017
OPEC to swell investor gains by turning market upside down
OPEC’s production cuts have already turned oil speculators the most bullish in a decade. As their effect is felt, crude could become even more alluring.The supply curbs are boosting short-term oil prices, pushing some higher than later-dated contracts for the first time in two years. As OPEC’s cuts begin to…
8 February 2017
Scotland to Review Ferry Services Tendering
The Scottish government has made a decision to review the need to put lifeline ferry services out to tender in the future, according to Nautilus trade union.Announcing the move, the country’s transport minister Humza Yousaf said he wanted to examine the legal, policy and financial implications affecting the procurement of…
8 February 2017
DNV GL, MPA to Research Intelligent Shipping Systems
Classification society DNV GL and the Maritime and Port Authority of Singapore (MPA) have expanded and renewed a memorandum of understanding, which promotes research and development (R&D) and innovation in the maritime industry, to include the R&D of intelligent shipping systems.The new MOU, which extends the collaboration for another three…
8 February 2017
Lloyd’s Register Launches Subsea Inspection Service
Lloyd’s Register (LR) has established Subsea Inspection Service to support underwater inspections of subsea pipelines, assets and facilities to energy companies operating offshore.Services include project management, consultancy, personnel, quality control, data processing and data management, applicable to ROV, AUV and diver projects.Headed by LR’s subsea inspection manager Andrew Inglis, and…
8 February 2017
Subsea 7 Expands Fleet with Two Newbuild Vessels
Subsea 7, a provider of seabed-to-surface engineering, construction and services, has taken delivery of two newbuild vessels, Seven Arctic and Seven Kestrel. With this delivery, Subsea 7 has completed its fleet investment programme that has added six newbuild vessels to the company’s fleet since 2014.Seven Arctic is a heavy construction…
8 February 2017
Toisa Files for Chapter 11 Bankruptcy
Vessel owner Toisa Ltd. has filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court, Southern District of New York.Reportedly, slowdown in the oil & gas and dry-bulk markets has left the company in debt of some USD 1 billion.According to documents submitted to the Bankruptcy Court in Manhattan,…
31 January 2017
GE to Deliver Subsea Trees and Wellheads for Premier’s Natuna Project
31st January 2017GE Oil & Gas has been awarded a contract with Premier Oil for subsea trees and wellheads for the Bison, Iguana and Gajah Puteri (BIGP) fields, in the Natuna Sea.According to the company, the scope covers subsea trees and wellheads, rental tools and field service support during the…
31 January 2017
Aibel to Connect Johan Sverdrup’s Drilling Platform
Oil and gas services company Aibel has been awarded a contract from the Norwegian oil company Statoil for the hook-up of the drilling platform at the Johan Sverdrup field, offshore Norway. The company informed on Tuesday that the value of the contract is close to NOK 400 million. In addition,…
31 January 2017
Shell Signs Agreement to Sell its Stake in Thailand’s Bongkot Field
Shell has reached an agreement with KUFPEC Thailand Holdings Pte Limited, a subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC), for the sale of subsidiary companies Shell Integrated Gas Thailand Pte Limited and Thai Energy Co Limited, which together hold a 22.222% equity stake held in the Bongkot field, and…
31 January 2017
Wood Group Secures New Contract with Hess in Malaysia
Wood Group has been awarded a five year contract with Hess Exploration & Production Malaysia. The operations and maintenance contract is to support Hess’ new-build fixed and floating offshore facilities in the North Malay Basin development area located approximately 150km north east of the Peninsular Malaysia, and includes a one-year…
31 January 2017
Aker Solutions Wins Hook-Up Contract for Johan Sverdrup Oil Field
Aker Solutions won a contract from Statoil for the hook-up of the riser platform for the Johan Sverdrup field, Norway's largest offshore development in the past three decades.The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules, which will be transported to Norway in the…
30 January 2017
SMD Wins Contract with Subsea Cable Installation Service Provider SBSS to Provide MD3XT Submarine Telecom Cable Plough
Soil Machine Dynamics Ltd (SMD) are pleased to announce the signature of a contract with S.B. Submarine Systems Co., Ltd. (SBSS) for the design, manufacture and delivery of the next generation MD3XT submarine telecom cable plough. The complete plough system will come equipped with an optical umbilical and SMD purpose-designed…
30 January 2017
Shell Readies $3bn North Sea Assets Sale
Shell is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said, marking a milestone in its drive to reduce debt after buying BG Group.Chrysaor, a North Sea-focused oil company backed by private equity fund…
30 January 2017
Lloyd’s Register Launches Subsea Inspection Service
Lloyd’s Register (LR) has established Subsea Inspection Service to support underwater inspections of subsea pipelines, assets and facilities to energy companies operating offshore.Services include project management, consultancy, personnel, quality control, data processing and data management, applicable to ROV, AUV and diver projects.Headed by LR’s subsea inspection manager Andrew Inglis, and…
30 January 2017
Dana Petroleum: Western Isles to start producing in late 2017
Dana Petroleum, a UK North Sea operator, is working on bringing online its Western Isles development in 2017.The project has experienced delays after Dana in 2015 made changes to technical requirements for the FPSO planned for deployment at its North Sea fields.The FPSO of Sevan’s cylindrical design, built by Cosco…
30 January 2017
Removal of Emergency Response Vessel at the Alvheim Field
Aker BP has received consent to remove the emergency response vessel at the Alvheim field.Aker BP ASA (Aker BP) is the operator of the Alvheim field in the North Sea, close to the boundary with the UK shelf, around 260 kilometres west of Stavanger. Alvheim has been developed using a…
30 January 2017
Statoil Receives Consent to use Songa Encourage for Well Activities
Statoil has received consent to use Songa Encourage for well activities at Norne, Norne satellites and Alve.Statoil is the operator of the Norne field in the Norwegian Sea, west of Mo i Rana in Nordland county. The field has been developed using a floating production and storage unit, tied to…
30 January 2017
Mcdermott Acquires Ceona Amazon
The Houston-based offshore EPCI player, Mcdermott, has reportedly struck a deal to acquire the pipelay and construction vessel Ceona Amazon, previously owned by the SURF contractor Ceona.Ceona fell into administration in 2015 resulting in over 100 redundancies, and left the company assets up for sale, including the Ceona Amazon, in…
30 January 2017
Lundin Receives Consent for Exploration Drilling on the Edvard Grieg Field
Lundin has received consent to carry out exploration drilling of well 16/1-27 on the Edvard Grieg field.Lundin is the operator of the Edvard Grieg field, in the North Sea, around 140 kilometres west-southwest of Stavanger. The field is one of the largest oil fields on the Norwegian Continental Shelf. Production…
27 January 2017
Minox Delivery to Egina FPSO
Minox Technology delivered on the 17th of January 2017 two water deaeration skids to the Egina FPSO.The compact modules were delivered out from ROS fabrication yard in Singapore. Samsung Heavy industries are transporting the skids to Nigeria where the water injection module will be finalized. The skids have a water…
27 January 2017
GE’s Latest MV7-5L Drive Chosen for Greater Enfield Offshore Project
GE Energy Connections (NYSE: GE) was recently chosen to supply its MV7Series 5 Level (MV7-5L) drive, which will sit topside on a floating production storage and offloading (FPSO) unit for the Greater Enfield project. Located 60 kilometers (km) off Exmouth in Western Australia, the project aggregates production from the Laverda…
27 January 2017
Heerema Sleipnir Contract to TMC Compressors
International compressor supplier Tamrotor Marine Compressors (TMC) has been awarded a contract by Sembcorp Marine to supply compressed air systems to the new build Heerema Sleipnir crane vessel.The scope of work includes manufacturing and delivery of a complete marine compressed air system, including Smart Air service air compressors, service air…
27 January 2017
DONG Energy Invests in Taiwan’s First Offshore Wind Project Formosa I
DONG Energy has signed an agreement to acquire a 35% ownership interest in the Taiwanese offshore wind project Formosa I from local developer Swancor Renewable. Completion of the transaction is subject to a number of conditions precedent including approval from the EU and from the Investment Commission under Taiwan’s Ministry…
27 January 2017
Lebanon Re-launches First Oil and Gas Licensing Round
Lebanon re-launched its first oil and gas licensing round after a three-year delay, the energy minister said on Thursday, kick-starting the development of a hydrocarbon industry stalled by national political paralysis.Lebanon has opened five offshore blocks (1,4,8,9 and 10) for bidding in a first licensing round, Minister of Energy and…
27 January 2017
W&T Offshore Announces Initial Production from Ship Shoal 349 "Mahogany Field" A-18 Well
W&T Offshore, Inc. (NYSE: WTI) announced today that the Ship Shoal 349 A-18 well, its most recently completed well in its Mahogany field, was successfully brought on production on January 17, 2017. The well is ramping up to full rates and thus far has achieved a production rate of 3,275…
26 January 2017
IKM to Support Subsea 7 on Culzean SURF Project
IKM has recently secured a contract award from Subsea 7 based in Aberdeen.Subsea 7 has won the subsea, umbilical, riser and flowline (SURF) contract with Maersk Oil. The company will make and install underwater equipment for the new Culzean gas field.The Culzean gas condensate field in the UK Central North…
26 January 2017
Statoil Picks Oceaneering to Develop Battery-Powered E-ROV System
Oceaneering has been awarded a technology development contract by Statoil.The contract provides for the development, manufacturing, testing, and mobilization of a self-contained, battery-powered work class remotely operated vehicle (E-ROV) system deployed on the seabed.The system will interface with Oceaneering’s onshore Mission Support Center via a 4G mobile broadband signal transmitted…