En+ Considers Move to Russia's New Offshore Zone
En+ Group, hit by U.S. sanctions against Russia in April, said on Thursday it was investigating the possibility of re-domiciling from Britain's Jersey to one of Russia's new offshore zones.London-listed En+ Group, which manages the energy and aluminium businesses of Oleg Deripaska, was one of eight companies with ties to the Russian tycoon to be placed on a U.S. Treasury blacklist in April. The sanctions were related to Moscow's alleged meddling in the 2016 U.S. election.En+ also said on Thursday that its board had already approved a move…
Circulation Tool Helps Operators Cut Rig Time
With more than 1600 runs and 730 activations, operators across the globe are cutting rig time by deploying the DAV MX CircSub, the flagship tool from specialist oilfield service company, Churchill Drilling Tools. Run in hundreds of wells every year and recognized for its reliability, resilience and versatility, the dart activated DAV MX is the ultimate downhole circulation tool.With demand continuing to grow for the award-winning tool, the company, ahead of exhibiting at ONS in Norway this month, has released details of one of 14 activations in the last year in the Norwegian Sea alone.Demonstrating the DAV MX’s resilience and versatility…
Signs of Recovery in the US Gulf of Mexico
Today's U.S. auction of Gulf of Mexico exploration leases drew tepid response from oil companies, but marked notable progress for an industry still in a state of recovery.“While not a barn burner, Lease Sale 251 tops the previous Gulf sale in terms of increased participation, increased competition for offerings, and bid amounts,” said Randall Luthi, president of the National Ocean Industries Association (NOIA). “In addition, bidding activity demonstrates both continued interest in deepwater tracts and renewed interest in shallow water tracts.”Luthi continued, “The operating environment in the U.S.
Oil Companies Make Few Bids in US Offshore Lease Auction
Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing tepid interest in the region for the second time this year.Oil giant Exxon Mobil Corp was awarded 25 blocks, the largest of any company, followed by BP Plc with 19 high bids and Hess Corp and Equinor, which each had 16.Smaller companies, including Talos Energy Offshore, Houston Energy and W&T Offshore were among the top ten high bidders. In total, 23 companies bid in the U.S. Bureau of Ocean Energy Management's auction.In all…
Stena Drilling Streamlines Safety Equipment with VIKING
U.K.-based offshore drilling company Stena Drilling has placed a significant part of its safety equipment and servicing management under a VIKING Offshore Safety Agreement.In early 2018, an extensive review done by VIKING Life-Saving Equipment for its long-time customer revealed the potential for major cost and administration savings in placing much of the company’s safety equipment sourcing and administration under a VIKING Offshore Safety Agreement (OSA), Stena Drilling welcomed the input and signed up. The agreement covers the company’s…
Heijermans Joins Boskalis Management Board
During today's Extraordinary General Meeting of Shareholders, Bart Heijermans was appointed to the Board of Management of Royal Boskalis Westminster N.V. for a term until the Annual General Meeting of Shareholders in 2022.Heijermans will be responsible for the company’s offshore energy division, effective September 1, 2018.Heijermans brings to the board extensive experience in the offshore industry, having recently served as CEO and board member of subsea services provider DeepOcean. Prior to that, he held various senior management positions at companies including Helix Energy Solutions and Shell.
Ampelmann Wins North Sea Contracts
Ampelmann has strengthened its position in the North Sea this year after being awarded four new contracts and two extended scopes of work in the basin.The projects will see six E-type gangway systems deployed for planned shutdown campaigns and ongoing fabric maintenance support by different major operators across the UKCS.Utilising motion compensation technology, Ampelmann’s E-type is the largest system in the company’s portfolio and is ideally suited for the harsh environment of the North Sea, able to compensate high sea states up to 4.5m Hs.The gangway…
Mexico's Obrador Pledges More Than $11 Bln for Refineries
Mexican President-elect Andres Manuel Lopez Obrador said on Monday his administration will invest more than $11 billion to boost refining capacity in order to curb growing fuel imports.Lopez Obrador, who will take office on Dec. 1, told reporters his government plans to invest $2.6 billion to modernize existing domestic refineries owned and operated by national oil company Pemex, and spend another $8.4 billion to build a new one within three years.The $8.4-billion figure is higher than a $6 billion estimate provided by a key energy advisor during the campaign.Lopez Obrador…
Cantium Contracts Rowan Jack-up
Rowan Companies plc announced that the Rowan EXL III, an EXL Class high specification jack-up rig, has been awarded a six-month contract from Cantium in the U.S. Gulf of Mexico.The contract is expected to commence in early November 2018. The EXL III is currently under contract with Cantium in the U.S. Gulf of Mexico through mid to late August 2018. Rowan is a global provider of contract drilling services with a fleet of 27 mobile offshore drilling units, composed of 23 self-elevating jack-up rigs and four ultra-deepwater drillships.The Company's fleet operates worldwide…
Ampelmann Six New North Sea Contracts
Offshore access solutions provider Ampelmann said it has strengthened its position in the North Sea this year after being awarded four new contracts and two extended scopes of work in the basin.The projects will see six E-type gangway systems deployed for planned shutdown campaigns and ongoing fabric maintenance support by different major operators across the UKCS.Utilizing motion compensation technology, Ampelmann’s E-type is the largest system in the company’s portfolio and is ideally suited for the harsh environment of the North Sea, able to compensate high sea states up to 4.5m Hs.The gangway…
IMR Contract to IKM Subsea
Aker BP has awarded IKM Subsea an ad-hoc call of agreement for light IMR services on the Norwegian continental shelf. The duration of the contract is 3 years with additional six years of options. IKM Subsea will provide onshore project management, engineering, tooling preparation and offshore operations utilizing its Merlin ROV fleet.
Innogy Sells Stake in $2.6 Bln Offshore Wind Project
German energy group Innogy will sell a 41 percent stake in its 2 billion pound ($2.6 billion) offshore wind farm Triton Knoll to Japan's Electric Power Development Co and Kansai Electric Power Co, it said on Monday.The move helps Innogy secure funding for the project, which will result in one of Europe's largest offshore wind farms, and gives the Japanese firms a stake in a regulated energy infrastructure asset on the continent.Electric Power Development Co, which is operating under the name J-Power, will take a 25 percent stake while Kansai Electric will get 16 percent.
Aker Solutions Bags Work On Johan Sverdrup Offshore Norway
Aker Solutions has, in collaboration with Kvaerner, secured additional hook-up and commissioning work for Equinor's Johan Sverdrup field offshore Norway.Equinor has exercised an option in the Johan Sverdrup Riser platform hook-up contract awarded in January 2017 for Aker Solutions to perform hook-up and commissioning assistance of the field's utility and living quarter platform, as well as the preparatory offshore work connected with the phase two modifications of the riser platform."We are delivering well and on schedule on the hook-up work that we are currently performing on the Johan Sverdrup field," said Knut Sandvik, EVP Projects at Aker Solutions.
US drillers add most oil rigs since May
U.S. energy companies this week added the most oil rigs since May as drillers follow though on plans to spend more on exploration and production in anticipation of higher crude prices in 2018 than recent years.Drillers added 10 oil rigs in the week to Aug. 10, bringing the total count to 869, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.That rig count increase occurred desite U.S. crude prices being on track to fall for a sixth week in a row for the first time since August 2015 on worries trade tensions between the United States and China could hurt oil demand.The U.S.
Gazpromneft Issues Tender for Novy Port Crude Oil Loading in Sept 2018
Gazpromneft issued a spot tender on Friday to sell a cargo of light sweet Novy Port crude oil loading from Murmansk port in September, traders said.The producer is offering 100,000 tonnes of Novy Port crude oil loading from the RPK-Nord offshore terminal in the Murmansk port area on September 16-29, subject to weather conditions, traders added.Tender participants are invited to offer premiums to dated Brent quotes on a CIF Rotterdam basis.The tender closes on August 14 at 1200 London time (1100 GMT).
Energa Considers Offshore Wind Farm Projects
Poland's state-run utility Energa is interested in developing offshore wind farm projects, the head of Energa's generation unit Piotr Meler told a press conference on Thursday.Speaking at the same event, Energa's deputy head Jacek Koscielniak, said Energa was not running any analysis regarding a potential merger with another energy group.(Reporting by Anna Koper; Writing by Agnieszka Barteczko; editing by David Evans)
Unique Group Adds Diving & Industrial Gas Supply Service
Offshore solutions provider Unique Group said it has extended its offering to include diving and industrial gas supply for the African offshore market from its base in Cape Town, South Africa.Rodney McKechnie, Group Director at Unique Group, said, “After a rigorous study of the diving industry and the current requirements of customers in the region, it was imperative for our diving division to offer a complete turnkey package inclusive of diving and industrial gas.”The extension of capabilities now includes the full range of diving, welding, industrial, laboratory, test and calibration gases, chemical tanks and gas storage equipment.
Aqualis Offshore to Position Egina FPSO
Aqualis Offshore has been handed the position keeping role for installation of the floating production storage offloading unit (FPSO) at Total’s Egina field offshore Nigeria.EPCIC contractor for the $3.3 billion FPSO, Samsung Heavy Industries, has awarded the position keeping work to Aqualis Offshore. The newbuild Egina FPSO was towed from South Korea and arrived in Nigeria in late January for final integration of topside modules built in Lagos.The FPSO measures approximately 330 meters in length and is expected to have an oil storage capacity of approximately 2.3 million barrels of oil.Once the FPSO is located at the Egina field…
Sparrows Group to Operate in Saudi Arabia
Global specialist equipment and integrated engineering services company, Sparrows Group, has made a significant development in Saudi Arabia after being granted commercial registration to operate in the Kingdom.The commercial registration allows Sparrows Saudi Arabia LLC, a newly established entity in Dammam, to deliver services related to the extraction of oil and natural gas and associated support activities.A locally established company with the relevant commercial registration is a key requirement in the In Kingdom Total Value Add (IKTVA) program which supports Saudi Arabia’s Vision 2030.
Hochoa Takes Over as Bourbon CFO
French offshore services provider Bourbon Corporation announced Thierry Hochoa has been appointed as Chief Financial Officer effective as of August 6. He reports directly to Gaël Bodénès, Chief Executive Officer of Bourbon Corporation.Hochoa replaces Astrid de Bréon who resigned from her position as Chief Financial Officer from July 11.A graduate of IAE Paris, ESCP Business School and also CPA, Hochoa began his career in 1994 as an external auditor at Arthur Andersen, then Ernst & Young (EY). In 2004, he joined Technip, first as Director of Internal Audit, then held various finance positions at Group level before becoming, in 2011, Corporate Financial Control Director.
Oil Gains After Surprise Drop in Saudi Crude Output
Oil rose on Monday after Saudi crude production unexpectedly fell in July and U.S. drilling appeared to slow, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel.Markets also anticipated an announcement from Washington later on Monday on renewed U.S. sanctions against major oil exporter Iran. So-called "snapback" sanctions are due to be reinstated at 12:01 a.m. EDT on Tuesday, according to a U.S. Treasury official.Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday…
Strike Continues at Total's North Sea Oilfields, Talks Planned
A 24-hour strike at three of Total's British offshore oil and gas platforms started at 0500 GMT on Monday, as planned, a representative from Unite the Union said.Unite's regional officer Wullie Wallace said that talks were planned for Thursday between its members and Total to discuss pay and a new rota scheme.The workers began a series of 24-hour and 12-hour strikes on July 23. The next 24-hour strike is planned for Aug. 20 and the next 12-hour strike at Aug. 13. The affected platforms are Alwyn, Elgin and Dunbar.Reporting By Julia Payne
Prosafe Signs Pact with Cosco
Norwegian contractor Prosafe and COSCO Shipping (Qidong) Offshore Co have come to an agreement on three newbuild offshore accomodation units being built in China."Prosafe has reached agreements with COSCO and its lenders which will transform the company’s fleet, market position and earnings potential, and secure a significantly enhanced financial runway," said a statement from the company.The agreement allows for flexible delivery and long-term financing of Safe Eurus, Safe Nova and Safe Vega. The Agreement with COSCO includes flexible option…
Eidesvik Offshore, Wärtsilä Norway and DNV GL Celebrate FellowSHIP
Project partners Eidesvik Offshore, Wärtsilä Norway and DNV GL have announced the closure of the FellowSHIP research project. The cooperation has explored the use of battery, hybrid and fuel cell technology in the maritime industry for over 15 years.“FellowSHIP has been a flagship research project,” states Bjørn-Johan Vartdal, Maritime Programme Director for Technology and Research in DNV GL Group. “The results from FellowSHIP have shaped our knowledge of battery and hybrid power on board ships and enabled the industry to implement innovations which will help to enable the next generation of more efficient and sustainable vessels.”In 2003…
Gas Production at Egypt's 9B Field to Begin in October - Minister
Production of natural gas from two deepwater wells at Shell's West Nile Delta field 9B in Egypt will begin in the first half of October, the country's petroleum minister said on Friday.Tarek El Molla said in a statement the whole project, which includes several other wells being dug and linked to production, was set for completion in the second half of 2019 and that its output aims to reach 400 million cubic feet per day.The statement did not say how much gas the first two wells would initially produce.Egypt plans to become a regional hub…
Croatia Extends LNG Terminal Gas Bidding Deadline
A deadline for bids on output from a planned offshore liquefied natural gas (LNG) terminal to be built on Croatia's northern Adriatic island of Krk has been extended until Sept. 28, developers LNG Croatia said on Friday.Demand will dictate the capacity of the 250 million euro terminal, which is part of EU-led efforts to diversify away from Russian energy imports.The deadline on bidding for output was Aug. 3 but was delayed on requests from potential customers who are still in negotiations, LNG Croatia said.The European Commission this week said it had earmarked 124 million euros for the project which will supply gas to countries in eastern and central Europe…
NEw Biodegradable Drilling Rod Grease is Eco-friendly
Constant vibration in drilling operations causes friction and wear on drilling rods. To reduce this wear and increase efficiency, standard aluminum-thickened greases are used to provide extreme pressure protection. Unfortunately, these greases are traditionally petroleum-based and not biodegradable, raising concern about leakage and disposal issues in environmentally sensitive areas.Cortec has released an eco-friendly alternative called EcoLine Drilling Rod Grease, a premium quality biobased and biodegradable lubricant for drilling rod applications.
Noble's Loss Widens on $793 mln Charge
Offshore oil and gas drilling contractor Noble Corp Plc reported a bigger quarterly loss on Thursday, hurt by a $792.8 million impairment expense related to drilling rigs and other equipment.The company, which operates largely in the Gulf of Mexico, has been retiring deep-water rigs as oil producers move away from offshore drilling to cheaper land-based shale.Noble had 54 percent of its fleet in operation in the second quarter of 2018, down from 65 percent a year earlier.
Brazil Calls Oil Auction, Seeks to Export Oil in a Year
Brazil's government will seek to sell 14.4 million barrels of oil cargo this month, while the state company managing the development of the pre-salt oil exploration aims to export its own oil in a year's time, the firm's head said on Thursday.The tender of oil cargo, at an auction set for Aug. 31, follows a failed auction in May, in which the government received no bids.On offer is the government's share of production from companies producing in deepwater pre-salt fields. Brazilian rules dictate that companies vying for stakes in the prolific pre-salt must offer a share of oil production to the government.Oil majors have spent heavily on recent oil auctions in Brazil…
Ship Repair: Damen Wins Stena Don Refit Contract
Damen Verolme Rotterdam (DVR) won a contract by Stena Drilling for a refit of its drilling rig Stena Don. The vessel is scheduled to arrive at the yard in October 2018 and is expected to remain there for around three months. The most significant aspect of the works will be the installation of an eight-point mooring system prior to the rig being deployed off the UK’s Shetland Islands.In advance of the vessel's arrival, preparations are already underway at the yardto ensure that the installation of the mooring system can begin as soon as the Stena Don arrives at the yard. Various elements of the system need to be manufactured.
Oil Up; Traders Cite Crude Build at Cushing
Traders say Genscape reports crude draw at Cushing; prices rally on hopes latest weekly draw was an anomaly.Oil prices strengthened Thursday, turning higher after traders saw an industry report suggesting U.S. crude stockpiles would soon begin to decline again after a surprise rise in the latest week.Traders said prices rallied when industry information provider Genscape reported that crude inventories at Cushing, Oklahoma, delivery hub for U.S. crude, dropped 1.1 million barrels since Friday, July 27.On Wednesday, prices sank when the U.S. government reported that in the prior week, total U.S.
Oil Fall Again, Rising Supplies Weighs
Trade tensions cap gains as U.S. inventories jump, confounding expectations.Oil prices fell for a third day on Thursday, following a surprise increase in U.S. crude inventories that added to existing concern about the rapid rise in global crude supply.Saudi Arabia, Russia, Kuwait and the United Arab Emirates have increased production, as agreed at a meeting in June, to help to compensate for an anticipated shortfall in Iranian crude supplies once U.S. sanctions come into force later this year.Brent crude futures were last down 33 cents at $72.06 a barrel by 1200 GMT, while U.S. crude futures fell 55 cents to $67.11."There's been a lot of bearish news over the last week.
Rising Supply Dents Oil Gains
Oil prices fell for a third day on Thursday, following a surprise increase in U.S. crude inventories that added to existing concern about the rapid rise in global crude supply.Saudi Arabia, Russia, Kuwait and the United Arab Emirates have increased production, as agreed at a meeting in June, to help to compensate for an anticipated shortfall in Iranian crude supplies once U.S. sanctions come into force later this year.Brent crude futures were last down 33 cents at $72.06 a barrel by 1200 GMT, while U.S. crude futures fell 55 cents to $67.11."There's been a lot of bearish news over the last week.
Fugro H1 Profit Boosts Shares
Dutch deep-sea prospector Fugro on Wednesday surprised the market with a first-half profit, driven by strong growth in offshore wind projects, sending its shares sharply higher.The company, hit by a downturn in the oil sector in recent years, reported first-half earnings before interest and tax (EBIT), excluding exceptional items, of 4.0 million euros ($4.7 million) compared with a year-earlier loss of 25.3 million euros.Analysts in a poll conducted for the company had on average expected an EBIT loss ex-items of 1.9 million euros.Fugro shares traded in Amsterdam were up nearly 7 percent at 13.17 euros.Chief Executive Øystein Løseth said strong revenue growth in combinati
China's New Shenzhen Terminal Receives First LNG Cargo
China National Offshore Oil Company (CNOOC) started operating a new import facility in southern China for liquefied natural gas (LNG), state media reported on Wednesday.The terminal in the city of Shenzhen, near Hong Kong, on Wednesday received a 93,000-tonne LNG cargo from Qatar, Securities Daily reported, making it the state firm's ninth LNG terminal in operation.The new facility has four tanks each sized 160,000 cubic meters and a berth able to dock 266,000 cubic-meter tankers, with annual handling capacity of 4 million tonnes, according China Environment News.CNOOC's press office was not available for immediate comment.CNOOC in the same city also operates the Dapeng L
Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040
Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday.The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator, known as the National Hydrocarbons Commission (CNH), following a landmark 2013 energy opening that has led to more than 100 oil and gas contracts being awarded in a series of auctions.Eni sees initial crude oil production of 8,000 barrels per day (bpd) in early 2019 from its Amoca and Mizton fields…
Shell to Make Final Investment Call on Nigeria Oilfield in 2019
Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria's Bonga Southwest offshore oilfield, a senior company official said on Tuesday.The project, one of the country's largest with an expected production of 180,000 barrels per day, will generate profit at below $50 a barrel, Bayo Ojuli, managing director of Shell Nigeria Exploration and Production Company, told reporters.Shell is currently negotiating a production sharing contract with the Nigerian government which will determine the viability of the project, he said.
Total Offshore Oil Platforms Strike Ended at Midnight
A 12-hour strike at three of Total's British offshore oil platforms that started at midday on Monday ended as planned at midnight, a spokesman for Unite said on Tuesday.Britain's largest labour union has also scheduled 24-hour stoppages on Aug. 6 and 20 and a 12-hour strike on Aug. 13 if it is unable agree new rotas with Total.No formal talks with Total were planned but some informal contact is ongoing, he said.(Reporting by Shadia Nasralla, editing by Louise Heavens)
New Strike Ballot for Mariner Oil Platform Workers after Aker Offer
Unite the Union will ballot its members among offshore oil workers on Equinor's British North Sea Mariner platform again after Aker Solutions offered a new pay deal, Unite the Union said on Monday.A previous vote had been in favor of a strike which would involve about 200 workers and would likely take place between August and October. The Mariner field is due to start production in the second half of this year."There has been significant movement by Aker management over the last week to address a number of the key concerns our membership had," said Unite regional officer John Boland.
Singapore's Offshore Industry Recovering
A big drag on Singapore's growth in recent years, the embattled offshore and marine industry, has broken a three-year losing streak. Yet industry executives aren't betting on a return to the glory days anytime soon.The industry, along with a top-class finance sector, has been a key pillar of Singapore's economic transformation into a first world economy since independence from British colonial rule in 1965 and a source of national pride. But a 2014 collapse in oil prices has resulted in thousands jobs lost, several defaults and billions of dollars in debt restructurings.Now, as oil prices pick up, the industry is coming back to life.
Diamond Offshore Posts Smaller-than-expected Loss
Diamond Offshore Drilling Inc posted a smaller-than-expected loss on Monday, as a fall in revenue was offset by a 15 percent drop in costs.The Houston-based company's total operating expenses fell to $321.2 million from $378.5 million, a year earlier.As oil prices stay above $70 a barrel, oil and gas producers are again showing an interest in expensive offshore projects that can take up to a decade to develop.The rig contractor recorded a loss of $69.27 million, or 50 cents per share, in the second quarter ended June 30, compared to a profit of $15.95 million, or 12 cents per share, a year earlier.Excluding items, the company posted a loss of 33 cents per share.
How BP Found Shale Profits With 'Crystal Ball' Oilfield Technology
In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP's shale business turn a profit for the first time.Thousands of automated wells feed data on their performance into the firm's supercomputers each evening. If they show a need for maintenance, an Uber-style system summons a subcontracted repair firm to keep the shale wells flowing at optimal output and minimal cost.Such technology has helped slash BP's shale oil and natural gas production costs by 34 percent over five years. The shale business turned a profit for the first time in 2017…
Novatek Spuds First Well at North-Obskiy
PAO Novatek announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area located in the shallow waters of the Ob Bay.The initial well is drilled using a jack-up floating drilling rig “Amazon” leased from “Gazprom flot”. The drilling process is based on zero discharge principle, whereby all of the waste products are collected and transported 125 km to Sabetta onshore base."We commenced drilling our first well at the North-Obskiy license area characterized with significant geological potential and favorable location in terms of logistics…
Wison Wins FEED Contract for Canadian FLNG Project
Wison Offshore & Marine announced it has been awarded a contract to carry out front-end engineering design (FEED) for a proposed floating liquefied natural gas (FLNG) project sited in British Columbia, Canada.Wison said it has entered into a Technical Service Agreement (TSA) with the project’s developer Western LNG LLC, pursuant to which Wison will develop the basis of design (BOD) and carry out FEED wordk. Western also appointed Wison as the EPC service provider for the floating liquefaction plant upon project FID.Under the terms of the TSA…
SBM Offshore Reaches Settlement in Brazil Corruption Probe
SBM Offshore has reached a settlement in a long-running corruption investigation it faced in Brazil, allowing the Dutch marine engineering group to take up new business there.SBM said late on Thursday it would pay approximately $189 million to the Brazilian authorities and state oil company Petrobras in fines and compensation for damages.The company would not receive earlier agreed performance bonuses worth about $180 million in the period until 2030, it said.The agreement would end all anti-corruption investigations against SBM in Brazil and would allow it to participate again in Petrobras tenders…
Total Starts Production at Offshore Angola's Kaombo Project
French energy group Total said on Friday that it had started production at the Kaombo project, which is currently the biggest, deep offshore development in Angola.Kaombo Norte, the first 'Floating Production Storage and Offloading' (FPSO) unit, was successfully brought on stream and will produce an estimated 115,000 barrels of oil per day, while the second one - Kaombo Sul - is set to start up next year, said Total.The overall production will reach an estimated 230,000 barrels of oil per day at peak and the associated gas will be exported to the Angola LNG plant."The Kaombo start up is a great milestone for Total.
CNIV Module Installed on Erha FPSO in Nigeria
The Jumbo Javelin and her team have successfully installed a 100t Calcium Nitrate Injection Vessel (CNIV) module on the ERHA FPSO offshore Nigeria for Mobil Producing Nigeria (MPN).For this assignment the Jumbo Javelin had the Fly-Jib installed in Singapore. The 16-meter x 700t SWL Fly-Jib gives essential additional lifting height when mounted on the vessels forward crane.Once the Fly-Jib was installed the Jumbo Javelin proceeded to Lagos where she loaded the 100t CNIV.After departure from Lagos to the field, operations and limits were thoroughly assessed.
COSL to Drill Tui Field Wells for Tamarind Resources
Offshore driller COSL Drilling Europe as entered into an agreement with Tamarind Resources for drilling operations with Hai Yang Shi You 982 (HYSY 982) in New Zealand.Tamarind Resources owner of the Tui Field (PMP 38158) announced that it has entered into a contract with COSL Drilling Europe for the semi-submersible rig, HYSY 982 (HYSY 982 is the sister rig of COSLProspector). The contract consists of three firm wells, and options to extend the contract terms for up to one optional side-track development well and up to one optional exploration well, all to be drilled within the Tui permit.
Equinor Eyes Investment Decision on Bay du Nord Project in 2020
Norway's oil and gas firm Equinor expects to make the final investment decision on deepwater Bay du Nord project offshore Canada in 2020, the company and Canada's Newfoundland and Labrador province said on Thursday.The province's government said in a statement it has finalised a framework agreement with Equinor and its Canadian partner Husky Energy on the development some 500 kilometres off its coast.The project, which will target nearly 300 million barrels of oil reserves, is expected to be sanctioned in 2020, with production starting in 2025, the government said in a statement."There is no final investment decision yet...
Precision Drilling Posts Bigger-than-expected Quarterly Loss
Precision Drilling Corp reported a bigger-than-expected quarterly loss on Thursday as increased spending at the Canadian oilfield services company overshadowed higher day rates of its U.S. rigs.Expenditure on expansion more than tripled to C$15.8 million, while maintenance spending was four times higher than a year ago at C$13.1 million."During the quarter, we activated eight rigs in the U.S. and currently have 78 rigs running with visibility for four to six additional activations in the coming weeks," Chief Executive Kevin Neveu said in a statement.Revenue from rig utilization per day rose 10 percent to $21…
Hess Corp Losses Shrink on Higher Oil Prices
Oil and gas producer Hess Corp posted a smaller-than-expected quarterly loss on Wednesday as it raked in more money per barrel even as production fell, thanks to higher oil prices.The company's average realized price of crude oil jumped 36 percent to $62.65 per barrel, while production fell 16 percent to 247,000 barrels of oil equivalent per day boe/d, excluding its operations in Libya.U.S. crude prices topped $75 a barrel at June end, rising more than 18 percent in the second quarter.Hess said it earned $31 million from its exploration and…
Unique Group Enters into West Africa JV
Subsea and offshore solution provider Unique Group said it has formed a joint venture (JV) with Nigeria-based Charkin Maritime & Offshore Safety Ltd, a professional training company for the maritime and offshore oil and gas industries.The newly formed JV, Unique Charkin System Ltd, based out of Port Harcourt in Nigeria, offers a full range of support to the oil and gas market in Nigeria and will further extend services into Sub-Saharan Africa.Although already active in the region for some time, the partnership creates a dedicated office for Unique Group in the region, bringing enhanced accessibility and reduced response time for customers.
Emerson’s Launches Roxar RMS 11
Emerson has launched Roxar RMS 11, the latest version of its reservoir characterization software, which includes a powerful set of tools for developing smarter and more interactive reservoir modeling, facies modeling and unified tools for channelized reservoirs and region definition.The suite also comes with a new plug-in technology designed to ensure that RMS 11 is ideally placed for future web and cloud-enabled workflows and remains one of the most open and flexible reservoir characterization solutions in the industry today.“Roxar RMS 11 is all about the users…
Total's North Sea Oil Platforms Hit by 24-hour Strike
Around 40 rig workers started a 24-hour strike on Monday on the Alwyn, Elgin and Dunbar platforms in the British North Sea, curbing gas flows to shore, but stored crude was expected to mitigate any oil supply disruption.The platforms halted production at 0500 GMT, said Unite, Britain's largest labour union. Unite and Total, which operates the platforms, earlier failed to agree on work shifts and pay, a union spokesman said.No fresh talks are currently planned, another union spokesman said.The fields account for about 10 percent of Britain's gas output…
Remote Medical International Acquires HSE Offshore
Remote Medical International has acquired HSE Offshore as part of its strategic initiative to expand its oil and gas offshore medical capabilities. As a global medical services provider, Remote Medical International has recognized the need to continue growing its business and operational capabilities in Europe and Africa, to get closer to customers and provide better response time to customer needs.HSE Offshore will continue to operate under its own name and will benefit from Remote Medical International’s global operational capacity, allowing it to reach more customers.
Exxon Expects More Oil from Guyana's Offshore Block
Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday.Exxon and U.S.-based partner Hess Corp said more than 4 billion barrels of oil equivalent could be recovered from the Stabroek block, which is part of one of the biggest oil discoveries in the world in the last decade.The previous estimate was 3.2 billion barrels of oil equivalent, Exxon, the world's largest publicly traded oil producer, said.Besides Exxon and Hess…
UAE's Adnoc Awards USD 1.6bln Contract to China’s CNPC
The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres, as the company continues to identify and unlock new opportunities and maximize value from its hydrocarbon resources and deliver on its 2030 smart growth strategy.Adding to the 2D and 3D seismic data already acquired across Abu Dhabi, the new seismic survey will cover an area of up to 30,000 km2 offshore and 23,000 km2 onshore.The contract has been awarded by ADNOC to BGP Inc.…
MOL buys Eni's Adriatic Offshore Gas Stakes
MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica.INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months.The transaction covers 4.3 million barrels of oil equivalent (boe) proven and probable reserves and would increase hydrocarbon production by around 2…
UK Union to Ballot 2,500 Offshore Oil Workers for Strike
Offshore oil services workers will be balloted for potential strike action after they rejected a pay increase offer by the Offshore Contractors Association (OCA), Britain's union Unite said on Friday.Unite said it has 2,500 members covered by the OCA and the decision would affect 106 North Sea oil platforms.Reporting By Julia Payne
Oil Prices Set for Weekly Drop as Trade Worries Weigh
Oil prices came under pressure on Friday from U.S.-China trade tensions and were on course for a third straight week of falls.Brent crude was up 57 cents at $73.15 a barrel by 1344 GMT. The expiring U.S. West Texas Intermediate (WTI) crude for August delivery was up 28 cents at $69.74 a barrel, while the more traded September contract fell 13 cents to $68.11.U.S. President Donald Trump said in a CNBC interview he was ready to put tariffs on $500 billion of imported goods from China.Lower oil demand in the United States and China caused by…