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24 March 2021
Drilling activity is set for two consecutive years of growth but will lag pre-pandemic levels
After a challenging 2020, oil and gas demand recovery – supported by vaccination efforts and OPEC+ supply cuts – is proving good for drilling activity. Rystad Energy expects around 54,000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels. In 2022 drilling is set to increase…
24 March 2021
AGR’s Experience in Australia and iQx™ Software to Assist CODA’s Ambition of Reducing Well Decommissioning Costs by 35%
Following the recent establishment of the Centre of Decommissioning Australia (CODA), we are expanding our Well Management support to client decommissioning projects as a response to increased activity within the field. CODA reports that there is over $50 billion of decommissioning work in Australia over the next 50 years, over…
24 March 2021
OGA Bacton Energy Hub Area Plan: Hydrogen Potential
The OGA commissioned Progressive Energy to undertake a study in December 2020 to analyse the hydrogen demand potential in Bacton and the South East of England. The Southern North Sea has been a critical part of the UK’s energy system for half a century and could continue to have a…
24 March 2021
Bourbon Subsea Services continues its cooperation with TetraSpar Demonstrator ApS and has been awarded the turnkey contract for transportation and installation of innovating TetraSpar Demonstrator Floating Wind Turbine (FWT) prototype in Norway
As part of its partnership with TetraSpar Demonstrator ApS, Bourbon Subsea Services will manage the transportation and installation of the 3,6 MW Floating Wind Turbine prototype. This new turnkey stage includes project management, engineering, installation and offshore execution from assembly port in Denmark until hook up and Inter Array Cable…
24 March 2021
Borr Drilling Limited – Activity update
Borr Drilling Limited (the “Company”) (NYSE: BORR, OSE: BDRILL) is pleased to confirm the commencement of three previously announced contracts in Malaysia for the premium Jack Up drilling rigs Gunnlod and Saga with PTTEP and Mist with Roc Oil. The units started work during September in line with the original…
24 March 2021
Altera Infrastructure contract award bolsters Bilfinger’s inspection growth strategy
Leading operations, maintenance and asset integrity contractor Bilfinger Salamis UK has secured a three-year global support contract to provide offshore execution services, including inspection and enactment services, to Altera Infrastructure Production AS. The multi-million-pound contract award comes on the back of a successful period of growth for Bilfinger’s inspection department,…
24 March 2021
Significant oil discovery close to the Fram field in the North Sea
Equinor and partners Vår Energi, Idemitsu Petroleum and Neptune Energy have made the biggest discovery so far this year on the Norwegian continental shelf (NCS). Preliminary estimates place the size of the discovery between 12 and 19 million standard cubic metres of recoverable oil equivalent, corresponding to 75-120 million barrels…
24 March 2021
4th extension of long stop date under farm-out agreement for Vietnam Block 115/09
KrisEnergy Ltd. (“KrisEnergy” or the “Company”, and together with its subsidiaries, the “Group”), an upstream oil and gas company, refers to its announcements dated 14 February 2020, 19 June 2020 and 16 September 2020 and 16 December 2020 in relation to the entry by its wholly-owned subsidiary, KrisEnergy (Vietnam 115)…
23 March 2021
Non-commercial discovery in Jerv exploration well (PL973) operated by Chrysaor
Reference is made to our press releases of 18 February and 17 March 2021. Chrysaor Norge AS as operator of PL973 has concluded drilling of exploration well 15/12-25. The well targeted petroleum in reservoirs of Paleocene age (Ty Formation). The well was drilled to a total depth of 2,795 m…
23 March 2021
James Fisher to drive energy transition with new renewables brand
James Fisher, a leading provider of innovative marine solutions and specialised engineering services, has today announced the launch of James Fisher Renewables, which sees consolidation of the group’s extensive capabilities into a comprehensive solutions provider.Recognising significant growth opportunities in the renewables sector, the new structure will see James Fisher leverage…
23 March 2021
Neptune Energy’s Duva project marks important milestone
Neptune Energy announced the safe and successful installation of four Enhanced Horizontal Subsea Tree Systems (EHXT) for the Duva development project in the Norwegian sector of the North Sea. The installation was carried out by a vessel instead of a rig, reducing installation time, costs and operational emissions. The Duva…
23 March 2021
PGS Delivers Final Products from Canada 2020 Seismic Acquisition
PGS added 8 500 sq. km to its offshore Newfoundland and Labrador data library last season with three new GeoStreamer programs: South Bank, Blomidon, and the Torngat Extension. Final PSTM products are now available from all three surveys. South Bank exhibits a huge Tertiary fan system Blomidon covers Tertiary and…
23 March 2021
Saipem awarded a new contract by Qatargas worth over 1 billion USD for the North Field Production Sustainability Pipelines Project
Saipem has received from Qatargas a Letter of Award for a new contract worth over 1 billion USD and related to the North Field Production Sustainability Pipelines Project located offshore and onshore the North-East coast of the Qatar peninsula. The additional contract (“EPCL” package) entails the Engineering, Procurement, Construction, and…
23 March 2021
Baker Hughes and Horisont Energi Sign MoU for Groundbreaking Offshore Barents Sea Carbon Capture, Transport and Storage Project
Baker Hughes (NYSE:BKR) and Horisont Energi AS (EURONEXT:HRGI) have signed a memorandum of understanding (MoU) for the Polaris carbon storage project off the northern coast of Norway. Under the agreement, the two companies will explore the development and integration of technologies to minimize the carbon footprint, cost and delivery time…
23 March 2021
OMV - consent for exploration drilling in the North Sea
The Petroleum Safety Authority Norway has given OMV consent to drill exploration well 1/3-13 in the North Sea.With prospect name Ommadawn with a water depth of 71 metres for a duration of 41 days (dry hole case) or 79 days if a discovery is made.
23 March 2021
Hywind Scotland remains the UK’s best performing offshore wind farm
For its third consecutive year, Hywind Scotland – the world’s first floating offshore wind farm – reaches the highest average capacity factor for any wind farm in the UK. With an average capacity factor of 57.1% in the twelve months to March 2021, the floating offshore wind farm set a…
22 March 2021
ODL - Odfjell Platform Drilling and Maintenance Contract Award
TAQA in the UK has awarded Odfjell Drilling (UK) Limited (“Odfjell Drilling”) a five-year contract for the provision of Platform Drilling & Maintenance Services on its North Sea installations including North Cormorant, Harding, Tern Alpha, Brae Alpha and East Brae. Odfjell Drilling is the incumbent Platform Drilling & Maintenance Services…
22 March 2021
ODL – Aker BP exercises fourth year for Deepsea Nordkapp
Aker BP has exercised the second 12 month option for Deepsea Nordkapp under the Contract entered into between the parties in April 2018. The second 12 month option shall commence after expiry of the first optional period in June 2022. The approximate contract value for the exercised optional scope is…
22 March 2021
Vantage Drilling International Has Reached an Agreement to Manage, Operate and Market Certain of Seadrill Partners LLC’s Deepwater Floaters
Vantage Drilling International (“Vantage”), announced today, that it has entered into a Framework Agreement and related Management and Marketing Agreements with Seadrill Partners LLC (“Seadrill Partners”) under which Vantage’s subsidiaries will provide operating, management and marketing services to Seadrill Partners and its subsidiaries in respect of four of their deepwater…
22 March 2021
Siemens Energy to supply eight topside modules and support for FPSO vessel offshore South America
Siemens Energy was awarded an engineering procurement construction (EPC) contract from MISC Berhad for the supply of eight complete topside modules for a floating production, storage, and offloading (FPSO) vessel The FPSO will operate in an oil field offshore South America and is scheduled for start-up in 2024 Siemens Energy…
22 March 2021
Shawcor LTD. Announces Conditional Award For North Sea Development Project
Shawcor Ltd. (TSX: SCL) announced today that its pipe coating division has secured a firm contract, pending project sanction, to provide a wet insulation coating system utilizing its proprietary ULTRA™ technology for a Development Project located in the North Sea. The conditional award was secured following a technology development program…
22 March 2021
Ørsted kicks off offshore installation of Greater Changhua 1 & 2a Offshore Wind Farms
Located 35-60 km off the coast of Changhua County, the first large-scale and farshore offshore wind farms in Taiwan is scheduled to be finalized by 2022 and will provide clean energy to one million households. Ørsted has kicked off the horizontal directional drilling (HDD) to prepare for cable laying and…
22 March 2021
Vaccination hiccups could prevent the recovery of up to 1 million bpd of oil demand in 2021
The vaccine distribution cycle was not expected to be perfect, but the recent spike in cases in Europe, which some are calling the third wave, is not being met with a brigade of vaccines, but with vaccine skepticism instead. Rystad Energy has modeled the impact of the possibility of extended…
22 March 2021
Artisan 1 Gas Discovery
Gas discovery at the Artisan 1 exploration well located offshore Victoria Otway Basin. • 69.5 metres gross column within the Upper Waarre Formation with net gas pay of 62.9 metres. • Additional 20.9 metre gross column with 4.6 metres of net pay in the overlying Flaxman Formation. • The well…
19 March 2021
ODL - Deepsea Atlantic receives more work from Equinor
Equinor has exercised one new well for Deepsea Atlantic. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated…
19 March 2021
bp plans UK’s largest hydrogen project
bp announced that it is developing plans for the UK’s largest blue hydrogen production facility, targeting 1GW of hydrogen production by 2030. The project would capture and send for storage up to two million tonnes of carbon dioxide (CO₂) per year, equivalent to capturing the emissions from the heating of…
19 March 2021
Ashtead Technology's new Ocean Atlantic Petroleum partnership secures Total E&P Angola contract
A new partnership between Ashtead Technology and Ocean Atlantic Petroleum SA (OAP), has successfully executed its first marine services project in West Africa and has received awards for further work. Integrated subsea technology and services specialist, Ashtead Technology entered into a co-operation agreement with inspection and asset integrity company, OAP.…
19 March 2021
Hess Announces Sale of Interests in Denmark
Hess announced that it has entered into an agreement to sell its subsidiary Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field, to Ineos E&P AS for a total consideration of $150 million, effective January 1, 2021. “The sale of our Denmark asset enables us to…
19 March 2021
Partners have chosen concept for BM-C-33 project in Brazil
Equinor, together with license partners Repsol Sinopec Brasil and Petrobras, have approved the development concept for BM-C-33, a gas/condensate field located in the Campos Basin pre-salt in Brazil. “BM-C-33 is a key project in our portfolio and concept select is an important milestone in our effort to mature the project.…
19 March 2021
Term contracts for three PSV's
The DOF Group is pleased to announce the award of term contracts for three of its PSV's. The first award, commencing in April, is the charter of large modern PSV Skandi Gamma to Ithaca Energy (UK) Limited for a period of 2 years firm, plus 2 x 1 year options.…
19 March 2021
Contract award for Subsea Viking
Eidesvik Offshore ASA has been awarded a new contract by Seabed Geosolutions under the Master Time Charter Agreement for Subsea Viking. The new contract will commence in direct continuation of the existing contract. The firm period is approximately 4 months with options for extensions. “We are very pleased with this…
19 March 2021
Contract award for Viking Queen
Eidesvik Offshore ASA has been awarded a new contract by Equinor Energy AS for the PSV Viking Queen. The new contract will commence in April this year, in direct continuation of current contract with Equinor. The new firm contract period is 10 months, with options for further extensions.
19 March 2021
Solstad Offshore : Sale of vessels
Partrederiet International Offshore Services ANS, a wholly owned subsidiary of Solstad Offshore ASA, has sold the AHTS Lady Astrid and Lady Caroline. Delivery of the vessels to the new owner took place today Wednesday March 17th, 2021. The sale of the vessels will result in an immaterial accounting effect for…
19 March 2021
Renewables spending set for new record in 2021, luring service suppliers as oil and gas gap narrows
Capital expenditure for renewable energy projects is set for a new record in 2021, a Rystad Energy analysis shows, forecast to reach $243 billion, and narrowing the gap with oil and gas spending, which is projected to be relatively flat this year at $311 billion. While oilfield service suppliers have…
18 March 2021
Columbus Development Well Spud
Serica Energy plc (AIM: SQZ) is pleased to announce the spud of the Columbus 23/16f-CDev1 development well in the UK Central North Sea which will be drilled to a total depth of 17,600ft and will include a 5,600ft horizontal section. The well is being drilled with the Maersk Resilient Heavy…
18 March 2021
Petrofac to support next stage of Scotland’s ambitious net zero infrastructure project
Scotland took a step closer to its net zero carbon goals today with the announcement of over £30m of UK Government funding for a suite of initiatives linked to the Acorn carbon capture and storage (CCS) project. In June 2020 Petrofac was selected to provide ongoing Engineering and Project Management…
18 March 2021
Awarding three contracts for Heimdal and Veslefrikk decommissioning
Equinor has chosen Heerema Marine Contractors Nederland SE for removal, dismantling and recycling of the topsides and jackets of the Heimdal riser platform, Heimdal main platform and Veslefrikk A platform in the North Sea. The three contracts have been awarded on behalf of Gassco as operator of the Heimdal riser…
18 March 2021
Aker Solutions Awarded Work to Recycle Offshore Platforms in Norway
Aker Solutions has signed a sizeable1 letter of intent with Heerema Marine Contractors for decommissioning work related to the Heimdal and Veslefrikk fields, offshore Norway. The scope includes reception, dismantling and recycling of three offshore installations from the Heimdal and Veslefrikk fields. The total weight of these installations is around…
18 March 2021
TechnipFMC Enters Partnership with Magnora to Develop Floating Offshore Wind Projects
TechnipFMC (NYSE:FTI) (PARIS:FTI) today announced it has entered into an agreement with Magnora ASA (Magnora) to jointly pursue floating offshore wind project development opportunities under the name Magnora Offshore Wind. Magnora holds a strategic position within the renewable energy sector as an owner in offshore wind, onshore wind, and solar…
18 March 2021
PGS’ First Simultaneous Node and Streamer Acquisition Contract
PGS has been awarded a high-end 3D exploration survey by Lundin Energy Norway (and partners in PL1083) in the Barents Sea, where sparse node and high-density multisensor GeoStreamer seismic will be acquired simultaneously, building on the PGS productivity advantage. PGS will deploy drop-nodes leased from Geospace Technologies and operate Ramform…
18 March 2021
Expro and FTAI ocean LLC form exclusive well intervention vessel alliance
International oilfield service company Expro Group (“Expro”) has formed an exclusive alliance with global vessel provider FTAI Ocean LLC (“FTAI Ocean”), a subsidiary of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI), for the supply of the DP3 M/V Pride well intervention vessel to provide full light well intervention (“LWI”) services…
18 March 2021
Extension Of Drill-or Drop Decision Deadlines For Three Licences in Norway
The Board of Directors (the “Board”) of Rex International Holding Limited (the “Company”, and together with its subsidiaries, the “Group”) wishes to announce that the relevant Norwegian authorities had approved the following extensions for PL818 and PL818B Orkja in the North Sea and PL838B Shaw in the Norwegian Sea, in…
18 March 2021
Sif and IHC finalize acquisition of “KCI the engineers”
Roermond, the Netherlands, 16 March 2021. Sif Holding (‘Sif’) and Royal IHC (‘IHC’) have finalized the acquisition of “KCI the engineers” (‘KCI’) by Sif. Works Councils have advised positively on the acquisition and trade unions have been informed. Financial details will not be disclosed. KCI employs approx. 65 people who…
18 March 2021
UKRI awards £171m in UK decarbonisation to nine projects
UK Research and Innovation (UKRI) has announced a milestone in UK decarbonisation, with the award of £171 million funding across nine significant projects. The funding is being awarded through UKRI’s Industrial Strategy Challenge Fund (ISCF) decarbonisation of industrial clusters phase two: deployment competition. It is delivered by the Industrial Decarbonisation…
17 March 2021
Swift Drilling BV secures long term P&A contract from Wintershall Noordzee B.V.
SWIFT DRILLING has been awarded a long term contract by Wintershall Noordzee, which will employ the jack-up rig SWIFT 10 to perform a Plug and Abandonment campaign in Dutch and German North Sea. The contract is expected to commence this summer with a potential duration of 3 to 4 years.…
17 March 2021
KONGSBERG’s integrated Wind Turbine Installation Vessel technology chosen by Keppel AmFELS
The agreement will see Kongsberg Maritime (KM) supply a comprehensive technology package for a new WTIV destined to be among the largest of its type, which Keppel is constructing for the U.S.-based energy provider Dominion Energy. Kongsberg Maritime is headquartered in Norway with several offices in the United States, including…
17 March 2021
Sercel and Kappa Offshore Solutions jointly launch PIKSEL – a new high-resolution 3D marine seismic solution for renewable energy applications
Sercel and Kappa Offshore Solutions have announced PIKSEL, a compact marine seismic solution specially designed for acquiring the best seismic data for high-resolution 3D imaging of targeted offshore areas. Capitalizing on Sercel’s Sentinel® streamer technology, widely recognized for its outstanding robustness and accurate measurement capabilities, and Kappa Offshore Solutions’ expertise in…
17 March 2021
Contracts awarded for state-of-the-art service operation vessels for Dogger Bank wind farm
The Dogger Bank A and B phases of the Dogger Bank wind farm have awarded UK-based North Star Renewables contracts for delivering three service operation vessels (SOVs) for the operation of these phases. The total value of the contracts including options is estimated at about GBP 270 million. The three…
17 March 2021
Drilling permit for well 6406/3-10 A in production licence 836 S
The Norwegian Petroleum Directorate (NPD) has granted Wintershall Dea Norge AS a drilling permit for well 6406/3-10 A, cf. Section 13 of the Resource Management Regulations. Well 6406/3-10 A will be drilled from the Deepsea Aberdeen drilling facility in position 64°56'16.19"N and 6°46'42.63"E after concluding the drilling of wildcat well…
17 March 2021
Sonardyne delivers Fusion 2 remote operation first
Underwater technology company Sonardyne has successfully provided remote Fusion 2 survey operations capability on a live subsea construction campaign in the US Gulf of Mexico. Using its new Remote Operations Access Module (ROAM), Sonardyne surveyors based in the UK were able to remotely access and operate the Fusion 2 survey…