Thursday, October 18, 2018

Eni Wins Offshore Mozambique Block

Image: Eni

Italian oil and gas major Eni has signed in Maputo the contract for the exclusive exploration and development rights of the offshore block A5-A, in the deep waters of the Northern Zambezi Basin, approximately 1,500 km to the north east of the capital Maputo.With this acquisition, Eni further strengthens its presence in Mozambique, a country that has a strategic relevance for the company, said a press release from the company.The block was awarded to Eni as a result of the participation to the 5th competitive Licensing Round launched by the Republic of Mozambique.

Several US States Likely Withheld from Offshore Drilling Plan

Interior Secretary Ryan Zinke (Photo: U.S. Department of Interior)

Interior Secretary Ryan Zinke has hinted to at least six coastal states that he will keep their waters out of a looming plan to expand U.S. offshore drilling, telling some they lack enough oil to be included anyway, according to state officials and transcripts from public hearings.Zinke's comments are the clearest indication to date that the Trump administration’s initial proposal to open nearly all U.S. waters to drilling, announced in January, will be significantly pared back by the time it is finalized. The proposal is expected later this year.The administration had billed its initial plan as a good way to boost domestic energy production…

Scotrenewables Renamed Orbital Marine

Image: Orbital Marine Power

The floating tidal turbine developer Scotrenewables Tidal Power Limited has announced a comprehensive company-wide rebranding to Orbital Marine Power.The new name is inspired by the orbital cycle of the moon around the earth, the reliable provider of tidal energy. Speaking about the rebranding, Andrew Scott, CEO, said: “After a comprehensive exercise, we are really pleased to introduce our new brand identity, and to do so at such an exciting time for the business, as we begin the build of our next generation turbine, the Orbital O2 2MW (previously referred to as the SR2 2000).”The Orbital Marine name and corporate identity will carry through to subsidiaries…

Lukoil Groundbreaking Ceremony at Rakushechnoye Field

Image: Lukoil

Russia's Lukoil informed its President Vagit Alekperov, jointly with Head of the Astrakhan Region Sergey Morozov, took part in the official groundbreaking ceremony to mark the start of construction of infrastructure facilities of Rakushechnoye field.This is the Company's third large project in the Caspian Sea alongside with two other fields, Yury Korchagin and Vladimir Filanovsky.Commercial oil production, with an estimated plateau level of 1.2 million tonnes, is expected to commence in 2023.Proximity to the Сompany's other Caspian fields makes it possible to use already available power supply facilities and infrastructure for the treatment and shipping of the products…

Gulf Marine Services Bags New Contract

Image:  GMS

UAE-based Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, said it secured a new contract for one of its Small Class vessels.The new charter is for 12 months (including options) and is scheduled to commence shortly. The vessel will be supporting well intervention activities for a national oil company (NOC) in the MENA region.Duncan Anderson, Chief Executive Officer of GMS, said:  "This new award, which follows last month's announcement of three long-term contracts, is further evidence of a continuing market recovery.

Nexans Wins Cable Contract for Northwester 2 Wind Farm

(Photo: Nexans)

Nexans said it will supply a subsea power cable and associated accessories for the 219 MW Northwester 2 wind farm 46 km offshore from Zeebrugge, Belgium.The French based company has been awarded a contract from Northwester 2 developer Parkwind to design, manufacture and test the submarine power export cable for the offshore wind farm.The Northwester 2 wind farm comprises 23 turbines. It will be the seventh wind farm to be constructed off the Belgian coast and the first worldwide to feature the record-setting 9.5 MW V164 turbine manufactured by MHI Vestas.

Hoegh LNG Vessel to Leave Egypt Before Weekend

(Photo: Hoegh LNG)

Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.The minister, Tarek El Molla, told Reuters the other vessel would stay behind as part of the petroleum ministry's strategy to maintain energy supplies for the country.Hoegh said Egypt Natural Gas Holding (EGAS), having decided to end its charter early, has agreed to pay the difference between its contract for the terminal…

Offshore Drillers Eye Recovery by 2020

© namning / Adobe Stock

Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020.At the depths of a global slide that took oil below $27 a barrel in early 2016, daily rates for leasing the most sophisticated floating drilling rigs had fallen to just $180,000 from $500,000 a day, as producer returns from North Sea, Latin America and Canadian drilling evaporated.Transocean Ltd…

Unmanned Platform Starts Production at Oseberg Vestflanken 2

The Oseberg area (Photo: Equinor)

The Oseberg Vestflanken 2 field in the North Sea came on stream on Sunday. Remote-operated from the Oseberg field center, the new Oseberg H platform is the first unmanned platform on the Norwegian Continental Shelf. Recoverable resources are 110 million barrels.“With Oseberg H we take a huge technological leap forward. The fully automatic, unmanned and remote-operated platform is digitalization in practice, and I am proud of Equinor and its partners having chosen this in-house developed solution,” says Anders Opedal, Equinor’s executive vice president for Technology…

US GoM Oil Production Off 32% from Storm

A view of the eye of Hurricane Michael taken on October 10, 2018 from the International Space Station currently orbiting Earth. The photo was taken by NASA astronaut Dr. Serena M. Auñón-Chancellor. (Credit: NASA)

U.S. Gulf of Mexico producers have cut oil output by 32 percent and natural gas production by 13 percent as a result of the lingering effects of Hurricane Michael, the Bureau of Safety and Environmental Enforcement (BSEE) said on Friday, citing reports from 27 companies.The reductions continued as oil and gas companies moved more workers back to production platforms that were evacuated earlier in the week. As of Friday morning, nine platforms were still unoccupied, BSEE said in a daily update, down from 89 platforms on Wednesday.It can take several days after a storm passes to inspect platforms…

US Drillers Add Oil Rigs for First Week in Four

© FerrezFrames / Adobe Stock

The U.S. oil drilling rig count rose this week for the first time in four weeks even as crude prices tumbled to their lowest in almost three weeks.Drillers added eight oil rigs in the week to Oct. 12, bringing the total count to 869, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.The increase is the biggest weekly gain since mid August.The U.S. rig count, an early indicator of future output, is higher than a year ago when 743 rigs were active because energy companies have ramped up production to capture prices that are higher in 2018 than 2017.Since June…

Oil Rebounds Towards $81 but Weaker Demand View Weighs

© Daniel Gillies / Adobe Stock

Oil rebounded towards $81 a barrel on Friday as an equities rally lent support, though prices pared gains after a closely watched forecaster deemed supply adequate and the outlook for demand weakening.Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S. inventories and fading concerns for now about looming U.S. sanctions aimed at cutting Iran's oil exports.Global equities were set for their biggest daily gain in nearly a month. Declining equities amid wider risk-off investor sentiment had pressured oil on Thursday."A rebound in equity markets would help Brent to rebound from $80…

Equinor Extends Contract for Maersk Intrepid Rig

The Maersk Intrepid jack-up rig. (Photo: Maersk Drilling)

Norway's Equinor has awarded Maersk Drilling AS a five-month contract for the Maersk Intrepid rig to provide operational support on the Martin Linge field in the North Sea. Two extension options will also be exercised, and four new options will be added.Maersk Intrepid initially had a contract for operational support for the Martin Linge licence until April 2019. Equinor has chosen to exercise two one-month options, and then start a new contract from June 1 to October 31, 2019.In addition, Maersk Intrepid will get four new two-month extension options.

LOOP Resumes Normal Operations After Storm

The Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States, said it resumed normal operations at its Marine Terminal on Thursday after operations were suspended ahead of Hurricane Michael.Major oil producers and drillers began returning workers and restoring output at U.S. Gulf of Mexico facilities shut as Hurricane Michael blew through.Michael, the fiercest storm to hit Florida in more than 80 years, weakened into a tropical storm over central Georgia after it slammed into the Florida Panhandle on Wednesday as a Category 4 hurricane.(Reporting by Karen Rodrigues in Bengaluru Editing by Marguerita Choy)

U.S. Oil Firms Restoring Operations in Storm-tossed Gulf of Mexico

Photo courtesy of BP

Oil producers on Thursday were checking Gulf of Mexico production platforms and beginning to return crews to more than 90 offshore facilities evacuated this week as Hurricane Michael moved through the Gulf.Production shut-ins that temporarily halted 42 percent of Gulf oil output and nearly a third of natural gas production was restarting in some areas.BP Plc conducted its first flyovers on Wednesday to check the status of four platforms that were evacuated, said spokesman Jason Ryan.Restarting production can take several days. Producers lost about 1.7 million barrels of oil through Wednesday as a result of shut-ins and the figure is expected to rise.

LNG Report: Floating Liquefaction & Regasification

Prelude. Photo: Shell

International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector. Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle. Many FLNG and FSRU projects are planned – but only some will ultimately will move forward to development.

Statfjord A Platform Shut Due to Power Outage

(Photo: Harald Pettersen / Equinor)

A power outage has shut down production at Equinor's Stafjord A platform in the North Sea and a restart time was as yet unclear, a company spokesman said on Thursday."We are still investigating the reasons of the power outage, which happened before midnight," Equinor's spokesman Morten Eek said. "The restart time is unclear."The company evacuated 43 out of 95 offshore workers from Statfjord A platform to the nearby Statford B and C platforms as a precautionary measure, he added.The other two facilities were not affected by Statfjord A shutdown and continued to produce, Eek said.(Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)

Rowan Sells Two Jack-up Rigs to ARO Drilling

Image: Rowan Companies

Texas-based offshore drilling contractor Rowan Companies announced that it has concluded the sale of two LeTourneau TARZAN Class jack-up rigs, the Scooter Yeargain and the Hank Boswell, to ARO Drilling.The net economic impact of this transaction was that Rowan received approximately $90 million in cash and $176 million in shareholder notes from ARO Drilling as consideration for the two rigs.In addition to Rowan's 50% equity stake in ARO Drilling, Rowan now has a total of $445 million of shareholder notes from ARO Drilling.By agreement of the parties…

Michael Shuts Nearly 40% of U.S. Gulf of Mexico Oil Output

© bomboman / Adobe Stock

Nearly 40 percent of daily crude oil production and more than one-third of natural gas output was lost from offshore U.S. Gulf of Mexico wells on Wednesday because of platform evacuations and shut-ins ahead of Hurricane Michael.Michael is a Category 4 storm expected to hit the Florida Panhandle later Wednesday with maximum sustained winds of 145 miles (233 kilometers) per hour.Oil producers - including Anadarko Petroleum Corp, BHP Billiton, BP and Chevron Corp - have since Monday evacuated personnel from 75 platforms as the storm made its way through the central Gulf.The country's largest privately owned crude terminal…

Chevron becomes first oil major to exit Norway

© Marius Dobilas / Adobe Stock

U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter.Oil majors, including Exxon Mobil, BP and Shell, have scaled down their presence in Norway by selling or merging their assets in the mature region to focus on new growth opportunities elsewhere.Chevron is also seeking to sell assets in the British North Sea in order to focus on growing U.S. onshore shale production as well as the giant Tengiz field in Kazakhstan.According to a letter from the Norwegian oil and energy ministry to Chevron dated Sept. 28.

Storm Shuts Nearly 40% of US GoM Oil Output

(Image: NOAA)

Nearly 40 percent of daily crude oil production was lost from offshore U.S. Gulf of Mexico wells on Tuesday due to platform evacuations and shut-ins ahead of Hurricane Michael.Since Monday, oil producers, including Anadarko Petroleum Corp, BHP Billiton, BP and Chevron Corp , have evacuated personnel from 75 platforms as the storm made its way through the central Gulf on the way to landfall on Wednesday on the Florida Panhandle.Companies turned off daily production of about 670,800 barrels of oil and 726 million cubic feet of natural gas by midday on Tuesday…

RDIF, Schlumberger Aim to Reach Eurasia Drilling Deal Soon

Eurasia Drilling Company

Russia's RDIF sovereign wealth fund and U.S. oilfield services provider Schlumberger plan to complete a deal soon to buy a stake in Russia's Eurasia Drilling Company, RDIF boss Kirill Dmitriev was cited as saying by TASS news agency.Dmitriev told reporters separately that state oil pipeline monopoly Transneft was considering a share buyback but did not provide details.(Reporting by Darya Korsunskaya; writing by Tom Balmforth; editing by Jason Neely)

U.S. Crude Rises as One-fifth of Oil Production Lost Ahead of hurricane

Photo: Chevron

U.S. crude prices were modestly higher on Tuesday as nearly one-fifth of daily oil production was lost from offshore Gulf of Mexico wells due to Hurricane Michael.Oil producers including Anadarko Petroleum Corp, BHP Billiton, BP and Chevron Corp have evacuated personnel from 13 platforms as the storm made its way through the central Gulf on the way to landfall Wednesday on the Florida Panhandle.Companies turned off about 324,200 barrels of oil and 284 million cubic feet of natural gas by midday on Monday. An update on shut-ins Tuesday is likely…

Clean Ops Offshore: Johan Sverdrup Powered from Shore

The Johan Sverdrup field in the North Sea. (Photo: Equinor ASA)

With a flip of the switch, Kjell-Børge Freiberg, Norway's Minister of Petroleum and Energy, opened a new era in offshore oil and gas operations, initiating the "power-from-shore solution" that will provide the Johan Sverdrup field in the North Sea with electricity for more than 50 years. The development is significant because with electric power supplied from shore, Johan Sverdrup operations can be run without the use of fossil fuels, making it one of the most carbon-efficient fields in the world.The Johan Sverdrup field, which is still a year away from operation, houses an estimated 3.2 billion barrels and will have a planned a production horizon of more than 50 years.

DOF Bags Contract Extension in Brazil

(Photo: DOF Group)

Norwegian supply shipping company DOF ASA said its vessel Skandi Hav has been granted a 226-day extension by Petrobras in support of work offshore Brazil.The 1983-built Skandi Hav is now secured firm until June 8, 2019.The vessel is currently working as a research and supply vessel (RSV) supporting floating production storage and offloading vessel (FPSO) operations in Brazil.Skandi HavBuild: 1983Design: TMV 4000Class: DNV ✠1A1, Supply Vessel, OILREC, SF, E0, DYNPOS-AUTR,LOA: 87.9 mLPP: 81.4 mBreadth: 18.5 mDraft: 5.3 mDWT: 3,034 tAccommodation: 40 persons

C-Innovation Opens New Dock Facility

(Image: C-Innovation)

C-Innovation, LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, said it has opened a new dock facility in Port Fourchon, La., to expand the capabilities of its Subsea Services group.The new facility is located at the end of AJ Estay Road and was previously known as the Martin South Terminal.With more than 550 ft of open quayside, Bayou Lafourche is a main entrance into the facility, which is supplied with a Manitowoc 777 crane and forklifts for rapid mobilizations of C-I’s subsea construction and inspection…

GoM Offshore Platforms Evacuated Ahead of Hurricane

(Image: NOAA)

Energy companies on Monday halted nearly a fifth of Gulf of Mexico oil production and evacuated staff from 10 platforms as Hurricane Michael intensified and headed for a path up the eastern U.S. part of the Gulf.BHP Billiton, BP, Equinor and Exxon Mobil Corp were evacuating personnel from oil and gas platforms in the Gulf as forecasters predicted the storm would become a Category 3 hurricane.Companies turned off the daily production flow of 324,190 barrels of oil and nearly 284 million cubic feet of natural gas at midday, according to a survey of producers.

Eni to Acquire Half of BP's Libya Oil and Gas Assets

(Photo: Eni)

Italy's Eni has agreed to buy half of BP's 85 percent stake in a Libyan oil and gas licence with the aim of resuming exploration next year, the companies said on Monday.Eni will acquire the 42.5 percent stake and become the operator of the exploration and production sharing agreement (EPSA) in Libya, in which the Libyan Investment Authority holds the remaining 15 percent, the companies said in a statement.The companies, along with state-owned National Oil Corp (NOC), signed a letter of intent in London on Monday paving the way for the final deal.

Norway to Spend More Looking for O&G Near Russian Border

Norway plans to step up spending on looking for oil and gas in the northern Barents Sea close to its border with Russia, the country's 2019 budget showed on Monday.The government has proposed to allocate an extra 50 million Norwegian crowns ($6.04 million) to conduct a so-called 3D survey over a large geographical structure that straddles the border with Russia."Knowledge is crucial both for good resource management and for safeguarding national economic interests," Norway's Oil and Energy Minister Kjell-Boerge Freiberg said in a statement.The country's oil and energy ministry did not identify the structure…

BMT Wins Marine Monitoring Contract with BP

Mad Dog Rendering  (Photo: BMT)

BMT has won a contract to provide multiple marine monitoring systems for BP’s new Mad Dog Phase 2 semi-submersible floating production facility in the Gulf of Mexico. These systems will play an important role in ensuring the day to day operations of the facility are conducted safely.The Mad Dog Field is one of BP’s largest discoveries in the Gulf of Mexico to date. Mad Dog Phase 2 will have the capacity to produce up to 140,000 gross barrels of crude oil per day from up to 14 production wells. BMT will install its Integrated Marine Monitoring System which comprises several sub systems relating to environmental monitoring and facility response.

Orsted Expands US Business with $510 Mln Acquisition

(Photo: Orsted)

Orsted, the world's largest offshore wind developer, said on Monday it would buy U.S.-based Deepwater Wind LLC for $510 million as part of its strategy to expand in a major growth market.The still small U.S. offshore wind sector is seen as one of the most important markets outside the core European region, where subsidies that have underpinned the industry since the early 1990s are starting to be wound back.Deepwater Wind, the builder of the only operating U.S. offshore wind farm, has a portfolio with a capacity of around 3.3 gigawatts (GW).

Baker Hughes Acquires 5% of ADNOC Drilling for $550 Mln

(Photo: ADNOC)

Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign company to take a stake in one of state-owned ADNOC's services companies under the agreement which values ADNOC Drilling at about $11 billion.It will allow Baker Hughes to cement its presence in the Middle East, the fastest growing region for oil and gas operations, and enable ADNOC Drilling to gain access to the know-how and technical expertise of a global player.Since its acquisition by General Electric Co last year…

Equinor's Martin Linge Field Costs Rise Again, Start-up Delayed

Martin Linge utility module installation by the heavy-lift vessel "Thialf" in July this year. (Photo: Jan Arne Wold and Bo B. Randulff / Equinor ASA)

Norway has again revised up the estimated cost of developing the Martin Linge oil and gas field, which state-controlled Equinor bought from France's Total last year, with the start-up delayed until 2020, according to the fiscal budget.The North Sea field is now expected to cost 47 billion crowns ($5.7 billion) to develop, up from the 41 billion crowns estimated last year, and 59 percent more than originally seen in 2012.The field's start-up has also been pushed back to the first quarter of 2020 from the first half of 2019, the budget showed.Equinor…

Ensco to Buy Rowan in $2.38 Bln Deal

©  Lukasz Z / Adobe Stock

Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal since OPEC-led efforts boosted oil prices in the second half of 2016. Ensco bought rival Atwood Oceanics in a similar deal last year.Rowan shareholders will receive 2.215 Ensco shares for each share held.

Precision Drilling Trumps Ensign Bid for Peer Trinidad

© ??????? ??????? / Adobe Stock

North American drilling contractor Precision Drilling Corp on Friday said it would buy Trinidad Drilling Ltd in a deal valued at C$1.03 billion ($796 million), trumping a hostile bid from rival Ensign Energy Services.The acquisition, which has an enterprise value of about C$4 billion, makes Precision the third-largest driller in the United States with more than 200 active rigs and 322 rigs in total, said the companies, both based in the Canadian province of Alberta."We'll have strong coverage in other U.S. shale plays and in the Permian," said Precision Chief Financial Officer Carey Ford on a call with analysts.Precision expects the deal…

Belgium's Northwester 2 Wind Project Gets $242 mln EIB Loan

© Joe Gough / Adobe Stock

Belgium's 219 megawatt (MW) Northwester 2 offshore wind farm project secured a 210 million euro ($242 million) loan from the European Investment Bank (EIB), the bank said on Friday.EIB said the project, estimated to cost around 642 million euros, was among four Belgian offshore wind projects it would support with the European Fund for Strategic Investments.It said another 100 million euros for the project would be guaranteed by Denmark's Export Credit Agency EKF.Construction is expected to start in May 2019 and the farm will become operational in 2020.The 23 MHI Vestas wind turbines with a capacity of 9.5 MW each, will generate an estimated 219 MW of power, enough to supp

Boskalis Wins Subsea Contract at Tyra Gas Field

Boka Atlantis (Photo: Boskalis)

Royal Boskalis Westminster N.V. has been awarded the Tyra Redevelopment Subsea Installation Phase II contract by Total E&P Denmark.The sizable contract includes subsea engineering, procurement, fabrication and installation for the Tyra Redevelopment project in order to extend the operational lifetime of the Tyra offshore gas field by at least 25 years.Boskalis will provide a broad range of specialist subsea contracting activities for relocating and connecting subsea pipelines as well as the installation of manifolds, vertical platform production risers and umbilicals.

IMA Completes 12-month Study of the Floating Liquefaction and Regasification Market

© Wojciech Wrzesien / Adobe Stock

International Maritime Associates has just completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector.Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle. Many FLNG and FSRU projects are planned – but only some will ultimately move forward to development.

Aker Solutions to Provide Brownfield Services for BP in Angola

Aker Solutions has been awarded a five-year agreement to supply brownfield modifications, maintenance and operations support for BP's Greater Plutonio and PSVM fields offshore Angola.The work scope covers the supply of engineering, procurement and construction services for brownfield projects on the floating production, storage and offloading (FPSO) vessels located at each field. This includes support for upgrades to process, chemical and marine support systems, as well as refurbishment of aging piping and equipment.The order will be booked in the third quarter 2018.

Noble Energy Cashes Out of Tamar Petroleum After Egypt Gas Deal

Tamar (Photo: Noble Energy)

Texas-based Noble Energy sold its 43.5 percent stake in Israel's Tamar Petroleum after announcing last week that it would help finance a gas export deal with Egypt, the Israeli business daily The Marker reported on Wednesday.Noble's sale of 40 million Tamar shares, at 15.50 shekels ($4.26) each, took place on the Tel Aviv Stock Exchange, The Marker said in the unsourced report.A Noble representative in Israel declined to comment.Tamar shares were up 2.1 percent at 16.39 shekels in midday trade.On Sept. 27, Noble, Israel's Delek Drilling and…

Baker Hughes to Bid for Petrobras Production-sharing Contract

General Electric Co's unit Baker Hughes is preparing an offer for a production-sharing deal with Brazil's Petrobras, a Baker Hughes executive said on Tuesday, as the state-run oil company seeks creative ways to boost output from mature fields.Reuters reported in June that Baker Hughes was considering a bid, while Halliburton Co and Schlumberger NV were already preparing them, seeking to clinch Petrobras' first-ever tender for a production sharing deal with an oil services company."It's a lot of work. Anything that is the first time requires lots of work," Alejandro Duran, Baker Hughes' Brazil country manager, told Reuters in an interview.

Mexico Must Boost Oil Exploration to Halt Output Fall -Pemex

Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday.The nation's oil industry needs Petroleos Mexicanos to invest more than $2.5 billion per year and another $1 billion to $1.5 billion from private companies to fully replace its reserves, Jose Antonio Escalera, the firm's chief of exploration, said at an energy conference in Acapulco.Pemex this year expects to invest about $1.65 billion, roughly the same as 2017.

Equinor Acquires 40% Stake in Rosebank Project

Photo: Equinor

Equinor has signed an agreement to acquire Chevron’s 40 percent operated interest in the Rosebank project, one of the largest undeveloped fields on the U.K. Continental Shelf (UKCS). The parties did not disclose the commercial terms of the agreement.“Today’s agreement allows us to buy back into an asset in which we previously had a participating interest, demonstrating our strategy of creating value through oil price cycles. The acquisition of Rosebank complements our portfolio of oil, gas and wind assets in this country, in line with our strategy as a broad energy company.

ABB Offshore Wind Transformers for Borssele

Photo: ABB

ABB has won an order of more than $20 million from MHI Vestas Offshore Wind to supply reliable, energy-efficient and compact WindSTAR transformers, which are designed for installation in wind turbines.Borssele III and IV comprise the second phase of the Borssele wind farm. This phase constitutes a 731 megawatt (MW) wind project in the North Sea, 22 kilometers off the coast of The Netherlands and will be capable of providing enough clean energy to power more than 800,000 households."High-performance WindSTAR transformers for the world’s most powerful commercial offshore wind turbines to enable phase two of the Borssele wind farm in the North Sea…

No-deal Brexit Will Not Interrupt Norwegian Energy Flows to Britain

© Stanislav / Adobe Stock

Energy exports from Norway to Britain will not be affected even if Britain leaves the European Union without a deal, Norway's energy ministry said on Friday."Energy trade is governed by bilateral commercial agreements. We hence expect that energy exports from Norway to Britain will not be affected, even under a 'no-deal' scenario," a ministry spokesman said in an email.Gas and oil flows through the offshore pipeline system connecting Norway and Britain are also regulated by bilateral agreements between the two countries, he added.Norway is Britain's main external natural gas supplier.Reporting by Nerijus Adomaitis

Petrogal to Invest Up to $1 bln per Year in Brazil -CEO

Petrogal, the Brazilian unit of Portugal's Galp, plans to spend $800 million to $1 billion annually in the coming years in Brazil to develop its current oil and gas assets and boost its stake offshore, its chief executive officer said on Thursday.CEO Miguel Pereira said the company, Brazil's third largest oil and gas producer, wants to expand its presence in Brazil's offshore pre-salt areas, where billions of barrels of oil are trapped under a thick layer of salt, especially in the Campos and Santos basins."We want to be here, we want to grow here.

Shell, Chevron Clinch Saturno Block in Brazil Oil Tender

A consortium made up of Royal Dutch Shell and Chevron Corp won the Saturno block in the Santos basin in Brazil's pre-salt offshore oil auction on Friday, outbidding a rival group led by Exxon Mobil Corp.Shell's consortium won by pledging 70.2 percent of profit oil to Brazil's government, in the last oil auction ahead of a hotly contested presidential election next month. Reporting by Marta Nogueira and Alexandra Alper

HFW, BIMCO to Draft First 2020 Bunker Clause

File Image: International Bunker Industry Association

The law firm HFW has helped shipping association BIMCO draft its first clause relating to the International Maritime Organization's 2020 sulphur emission rules.The Global, sector-focused  law firm said that the new clause, focused on compliance, has been fast-tracked and may be published as soon as the end of October.BIMCO will produce several clauses dealing with specific issues relating to IMO 2020, which sets a new limit for the amount of sulphur in fuel oil of 0.5% for ships operating outside designated emission control areas. The new regulation will affect more than 70,000 ships globally.HFW is the only law firm on BIMCO's drafting committee.

DNV GL Completes Due Diligence of World’s Largest Offshore Wind Farm

Image: DNV GL

DNV GL has successfully completed a lenders’ technical due diligence on Ørsted’s Hornsea Project One, the world’s largest offshore wind farm with a total capacity of 1.2 GW.The project, which is currently under construction, consists of 174 7 MW Siemens Gamesa wind turbines and is located 100 km offshore, making it the furthest offshore wind farm in the UK. The exceptional distance is made possible by an innovative electrical transmission system using the world’s first offshore reactive power compensation mid-station, enabling power to be transmitted 100 km to shore.Working in close collaboration with Ørsted and the lenders…

Exxon Brazil to Focus on Drilling and Production

Exxon Mobil Corp will focus on drilling and production in Brazil now that it has made extensive acquisitions of oil blocks in the country, the company's chief executive officer in Brazil, Carla Lacerda, said on Thursday.Exxon also sees new opportunities in Brazil's biofuels, bioenergy and gas sectors, Lacerda said during a panel discussion at the Rio Oil & Gas convention in Rio de Janeiro."We are principally in the exploration phase so my big task now is to drill some wells so that we can start up production some day," Lacerda said.Exxon has plowed big money into Brazil to replenish its dwindling reserves, starting with an oil auction in September of last year.

Exxon Brazil to Focus on Drilling and Production - CEO

Exxon Mobil Corp will focus on drilling and production in Brazil now that it has acquired lots of oil blocks in the country, the company's chief executive officer in Brazil, Carla Lacerda, said on Thursday.Exxon also sees new opportunities in Brazil's biofuels, bioenergy and gas sectors, Lacerda said during a panel debate at the Rio Oil & Gas convention in Rio de Janeiro.Reporting by Anthony Boadle

Israeli, Egyptian Partners Buy into Pipeline to Allow Gas Deal

Israeli and Egyptian partners have agreed to purchase 39 percent of the shares in the EMG pipeline for $518 million, a deal that will enable natural gas exports from Israel to Egypt to begin as early as the start of 2019, the companies said on Thursday.Under the deal, Israel's Delek Drilling and Texas-based Noble Energy who together have been developing Israeli gas fields, will each pay $185 million, while the Egyptian East Gas Co will pay $148 million for the stake in EMG, whose pipeline runs between the two countries.The deal also includes EMG agreeing to end arbitration with Egypt and dropping claims against Cairo regarding the cancellation of a gas deal several years

OMV Starts Offshore Oil Production in United Arab Emirates

(Photo: OMV)

Austria's OMV started production at Abu Dhabi's SARB and Umm Lulu's offshore oil fields, expecting to produce 25,800 barrels per day by year-end, it said on Thursday.The gas and oil group took a 20 percent interest in the two oilfields off the United Arab Emirates under a $1.5 billion deal agreed with the Gulf state's national oil company ADNOC in April.OMV will initially produce 10,000 barrels per day and expects to increase its output to 43,000 barrels per day by 2023.(Reporting by Kirsti Knolle ; Editing by Tassilo Hummel)

Petrobras to Resume Building Its Own Platforms

(Photo: Petrobras)

Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said.Petrobras' 2019-2023 business plan, set to be released in December, should include a resumption of platform construction thanks to the company's improving finances, Petrobras' director for production and technology development Hugo Repsold said."We will build platforms independently of who is president," Repsold told Reuters on Wednesday night, on the sidelines of an oil event in Rio de Janeiro."We weren't building platforms because we were poor.

DNV GL to Certify TenneT Offshore Power Substations

Image: DNV GL

DNV GL, the world’s largest resource of independent energy experts and certification body, has been contracted by Transmission System Operator TenneT to deliver the complete project certification for two offshore substations (OSS) for the Hollandse Kust Zuid offshore wind farms in the Dutch North Sea.The reliability of renewable sources is increasingly important as the world continues to rapidly electrify while also switching to greener forms of generation. According to DNV GL’s Energy Transition Outlook Report electricity’s share of the total…

OMM Calls EU, UK for Talk on Offshore Wind Firms

Image: Offshore Marine Management

Leading specialist marine contractor, Offshore Marine Management (OMM) is calling on companies and associations from across the EU to engage with UK businesses and to have that tough conversation on the future of the industry beyond Brexit.The call comes as OMM and many other European companies operating in the offshore wind sector prepare to attend the Global Wind Summit in Hamburg, which is one of the biggest industry events worldwide.The event takes place between 25th and 28th September and will provide the opportunity for EU and UK business leaders to come together to discuss their future relationships.OMM Director…

Shell Sees Peak Output for Brazil's Lula Field in 2020, 2021

(File photo: BW Offshore)

Brazil's most productive field, the Lula, located in the offshore Santos basin, should hit peak production in 2020 or 2021, after reaching 1 million barrels of oil equivalent per day next year, an executive at Royal Dutch Shell said on Wednesday.The increase in production next year will be helped by the launch of platforms P-67 and P-69, which should go online in 2019, according to Cristiano Pinto da Costa, Shell's general manager for the Santos basin's Lula, Sapinhoa, Iracema and Lapa fields.The Lula field averaged 879,000 barrels of oil per day as of July.

Total Oil Workers in N. Sea Accept Pay Offer, Cancel Future Strikes

* The UK's largest union Unite the Union said that offshore oil workers at three of Total's North Sea platforms had accepted a pay offer from the company* The workers have called off future strikes, a union statement said* The workers went on a series of 12 and 24-hour strikes in July and August, stopping production at the Alwyn, Dunbar and Elgin platforms* At issue was a rota shift change to three weeks on the platform versus two weeks previously* The workers accepted a mean basic headline pay increase of 15 pct plus substantial retention bonuses as compensation for the change* Total wanted to increase the working time offshore to match the routine at the oilfields it ac

Aker Solutions, Equinor Strengthen Collaboration

Doug Pferdehirt (left), CEO TechnipFMC, Torger Rød, SVP Equinor, Margareth Øvrum, EVP Equinor, Kjetil Hove, SVP Equinor, and Luis Araujo, CEO Aker Solutions. (Photo: Equinor)

Aker Solutions has signed a strategic, global collaboration agreement with Equinor to ensure mutual and continuous improvement on current and future subsea projects within the domains of safety, quality, technology, execution and cost."Aker Solutions and Equinor's ongoing collaboration has consistently generated mutually beneficial technology developments, working process simplifications and standardizations," says Luis Araujo, chief executive officer at Aker Solutions. "This agreement formalizes the companies' joint ambitions of achieving…

Total Sees Cash Flow, Output Boost from Deepwater Projects

(Credit: Gonzalez Thierry - Total)

Oil and gas major Total said on Tuesday it expected deepwater oil and gas operations to make a strong contribution to its output and cash flow thanks to major developments in the West Africa's Gulf of Guinea region, Brazil and U.S. Gulf area.Production from deepwater projects is expected to reach 500,000 barrels of oil equivalent per day (Kboe/d) by 2020, contributing to its 6 to 7 percent output growth target per year from 2017 to 2020."Deepwater is today for us a growing and very profitable part of the portfolio," Total's President for Exploration and Production Arnaud Breuillac…