Eni Starts Production at Obiafu 41
Italian oil major Eni said it has started gas and condensate production from the Obiafu 41 discovery, Niger Delta, three weeks after well completion. The discovery contains approximately 28 billion cubic meters of gas and 60 million barrels of condensate, and the gas from this discovery will largely be channeled to the domestic market in order to feed the power sector.This record time-to-market was made possible thanks to an integrated model, under which the various disciplines work in parallel from the exploration phase, and all synergies with existing production facilities are properly leveraged, Eni said.
WFW Advises on Race Bank Wind Farm Deal
Watson Farley & Williams (WFW), an international law firm based in London, said that it has advised Race Bank Wind Farm Limited on its USD 608 million sale of transmission system assets relating to the 573 MW Race Bank offshore wind farm to Diamond Transmission Partners.Race Bank is a joint venture owned by Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), a fund established by Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Development Bank of Japan (12.5%), and Arjun Infrastructure Partners and Gravis Capital Management…
New Offshore Wind Launch Academy in UK
Offshore Renewable Energy (ORE) Catapult, the UK's flagship technology innovation and research center for offshore wind, wave and tidal energy, has launched a new industry-backed national technology accelerator program.The program is designed to support innovative SMEs to commercialize new technologies that will enhance the UK’s offshore wind supply chain, enabling greater UK content, whilst supporting cost reduction.The Launch Academy initiative will focus on near-to-market solutions and is supported by eight industrial and business support specialists including Red Rock Power…
Total, Zhejiang Energy Establish Bunkering JV
French oil and gas company Total has signed a deal with Chinese state-owned Zhejiang Energy Group (ZEG) to create a joint venture company to supply and delivery marine fuels in the Chinese region of Zhoushan.Total China Investment (TCI) will hold a 49% share in the new company while Zhejiang Zheneng Petroleum New Energy (ZZPNE) will hold the remaining.Zhoushan region covers both Ningbo and Shanghai ports, the busiest shipping hub in the world in terms of cargo tonnage.By combining ZEG’s historical anchoring in the energy business in the region and Total’s longstanding expertise in the trading and marketing of international bunkers…
US Gives Chevron More Time in Venezuela
The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22.The license has been a subject of intense debate within the Trump administration as it pursues a campaign to oust socialist President Nicolas Maduro. Its renewal represented a win by some in the administration, such as Secretary of State Mike Pompeo, who see keeping a U.S. company in Venezuela as an asset that could lead to a speedy recovery…
Asian Producers to Boost Winter Gas Supply
China Petroleum & Chemical Corp, known as Sinopec, said it has secured 8.81 billion cubic metres (bcm) of natural gas for northern China for the upcoming winter heating season, state-owned Xinhua News Agency reported on Tuesday.That was up 15.5% from 7.63 bcm in the previous heating season.CNOOC Group, China's largest offshore oil and gas producer, plans to supply around 24.5 bcm gas, or 1.5 bcm more than last year, across the country, Xinhua reported.The country's top oil and gas producer, China National Petroleum Corp (CNPC) did not give the amount of gas it will supply in the winter, but said that it will boost output in major gas fields such as Changqing, Tarim and So
Offshore Wind & Politics: Bernie Sanders
Offshore wind is hot, and so too is the race to win the Democratic presidential candidate nomination for the 2020 U.S. presidential election. In its October 2019 edition of Marine Technology Reporter, government reporter Tom Ewing takes a closer look at each of the Dem candidates to give insight and overview on their policies and their potential impact on the offshore wind industry.Ten candidates in ten days: Today we take a closer look at Bernie Sanders:Opening statement:“The climate crisis is not only the single greatest challenge facing our country…
Damen Patrol Vessels for Offshore Nigeria
Damen recently delivered a pair of FCS 3307 high-spec patrol vessels to be operated by Homeland Integrated Offshore Services (Homeland IOS Ltd) in Nigeria, and now the boats are being prepared for their assignments. The boats will be deployed in the Gulf of Guinea to protect and support the offshore assets of Homeland’s clients which include many international oil companies.Features of the 33-m vessels include Damen’s trademark Axe Bow hull form that delivers excellent fuel economy and a top speed of 29 knots together with superb maneuverability and excellent seakeeping.
ORCA Hub Readies Drones for Offshore Energy
A consortium of five universities, including Heriot-Watt University, working with 35 industrial and innovation partners, has unveiled the latest results from its research collaboration.The largest academic center in the world for research into robotics technology for offshore energy infrastructure, the ORCA Hub’s aim is to advance robotics and Artificial Intelligence technologies for the inspection, repair, maintenance and certification of offshore energy platforms and assets.Creating solutions to some of the most challenging, hard to reach and hazardous real-world problems in the energy sector, ORCA Hub was launched in October 2017.
19 Fields in Production at Norwegian Sea
Norwegian Sea area, which is twice the size of the North Sea, has 19 fields in production and numerous discoveries are being developed and around 350 exploration wells have been drilled over the past 40 years, said Norwegian Petroleum Directorate (NPD).In many ways, the Norwegian Sea is a miniature version of the Norwegian shelf. It consists of a deep seabed with surrounding continental shelves. "The geology in the Norwegian Sea is the reason why we believed early on that there might be oil and gas there," said NPD.“We want to generate maximum value from the resources.
Halliburton Promises Cost Cuts
Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.The biggest hydraulic fracking services provider, which earlier this month cut 650 jobs in North America, said it would take steps over the next few quarters that will lead to $300 million in annualized cost savings.Oilfield service providers are struggling with reduced spending by oil and gas producers as investors…
Schlumberger Profit Beats Estimates
Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America.The international business has been a bright spot for the world's largest oilfield services provider since last year as investor pressure to improve returns has forced North American oil and gas producers to rein in drilling new wells in a volatile price environment.Le Peuch, who took charge in July, has outlined plans to accelerate digital investments…
Jutal Offshore Wins Contracts Worth $490m
Chinese oil and gas techincal services company Jutal Offshore Oil Services has announced that the company has obtained a slew of new contracts with total value of RMB3.5bn ($490mln).The number of new contracts include large-scale core modules construction of Arctic LNG 2 natural gas project, wind turbine jacket construction, and other offshore engineering and services said the company engaged in the fabrication of oil and gas facilities and oil and gas processing skid equipment business."Site construction of some large-scale construction projects have been gradually commenced…
Shell Aims to Operate Egypt Concessions in 2020
Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said.Shell won three oil and two gas concessions in Egypt in February.Eni, BP and ExxonMobil also won some of a total of 12 tenders as Egypt looks to sustain an investment upswing spurred by major discoveries.Shell has also applied to take part in a bidding round in Egypt for oil and gas drilling in the Red Sea, Gerald Schotman, executive vice president upstream JVs at Shell, told Reuters.The company would be also interested in any bidding for oil and gas drilling in the Mediterranean Sea should it open as Shell wanted to expand in Egypt…
Offshore Wind Cable Market to Grow 57% by 2023
The value of the global market for subsea power cables needed to build offshore wind farms will grow by 57% from GBP 717 million this year to over GBP 1.13 billion by 2023, according to a new report by RenewableUK.The study – 'Offshore Wind Cables Installation and Manufacturing Forecast 2019-2029' – also shows that subsea wires covering over 16,300km in length will be needed over the next five years to build new projects worldwide.According to RenewableUK’s Project Intelligence team which compiled the report, global offshore wind capacity will skyrocket from 20.5 gigawatts (GW) today to over 55GW in 2024…
Drilling Activity Buoyant in Norway
The number of wells drilled could challenge all-time high levels by the end of the year in the Norwegian Continental Shelf (NCS), while global offshore exploration activity has been flat year-to-date.Rystad Energy expects that this high activity level will be sustained through the winter season and into 2020. Around 30 to 50 exploration wells will be drilled per year towards 2023.“Our preliminary analysis shows that a total of 130 wells are likely to be drilled this year – a 16% increase compared to 2018. The increased activity this year relates primarily to an uptick in exploration drilling…
Wood Names Cox as Americas CEO
Energy services company Wood said Stephanie Cox will take over as CEO of its Americas business, succeeding Andrew Stewart who has been appointed executive president of strategy and development for the global business.Responsible for the firm’s $4 billion asset solutions business which employs around 20,000 people working across the US, Canada, Trinidad, Brazil, Mexico and Guyana, Cox will be based in Houston and report directly to Wood’s Chief Executive, Robin Watson.Cox joins Wood following a 28-year tenure with Schlumberger, most recently serving as President of the company’s North America land drilling business.
Offshore Wind & Politics: Joe Biden
Offshore wind is hot, and so too is the race to win the Democratic presidential candidate nomination for the 2020 U.S. presidential election. In its October 2019 edition of Marine Technology Reporter, government reporter Tom Ewing takes a closer look at each of the Dem candidates to give insight and overview on their policies and their potential impact on the offshore wind industry.
US Crude Exports Expected to Double by 2022
The U.S. could see its crude oil exports nearly double by 2022, according to energy research firm Rystad Energy. US crude exports could grow from current levels of 2.9 million barrels per day (bpd) to nearly 6 million bpd by 2022.With US production expected to increase by 1.2 million bpd year-over-year (y/y) in 2020, and with domestic refineries already maxing out capacity to absorb shale growth, Rystad Energy expects exports to balloon and reach 4.7 million bpd by the end of 2020 and nearly 6 million bpd by the end of 2022.“Crude exports will grow on the back of new infrastructure coming online in Corpus Christi…
Mozambique LNG Project Moves Ahead
With a second Final Investment Decision (FID) in just 2 years, Mozambique has officially positioned itself as a key player in the global gas and LNG market for years to come.The latest FID on the US$20 billion Mozambique LNG project, makes it the largest sanction ever in sub-Saharan Africa oil and gas.Described by His Excellency President Nyusi as “one of the most important and transformational projects in the country’s history”, Mozambique LNG is set to be a game-changer for this East African nation of 31 million people.According to Wood Mac…
Dominion Gets BOEM Nod Virginia OWF
American power and energy company Dominion Energy has received two key determinations from the federal Bureau of Ocean Energy Management (BOEM) regarding the design, fabrication and installation of the Coastal Virginia Offshore Wind (CVOW) project.According to the US utility, BOEM issued a no objection determination on the Facility Design Report (FDR) and Fabrication and Installation Report (FIR) for the CVOW project - the first offshore wind farm in the mid-Atlantic.“This is a significant milestone as we move forward on building the first-ever fully permitted offshore wind project in federal waters,” said Mark D.
ProPetro Cuts Almost 150 Workers
ProPetro Holding Corp this month cut about 150 workers, people familiar with the matter said on Monday, the latest sign of growing trouble in the oilfield services sector as U.S. shale producers reduce drilling.The job cuts reflect slowing shale activity due to weak prices for oil and gas, and producers exhausting their spending budgets for the year, one of the people said.Midland, Texas-based ProPetro said last week it would cut the number of hydraulic fracturing fleets operated this quarter by as much as 28%, far surpassing analysts' expectations.
Activists Climb Shell North Sea Platform
Greenpeace activists boarded two Royal Dutch Shell oil platforms in the British North Sea on Monday in protest against plans to leave parts of the giant structures in place after production shuts down.Pictures provided by Greenpeace show two people in yellow hats scaling one of giant two large, rusty structures and unfurling a banner reading "Clean up your mess, Shell!"Shell confirmed that protesters boarded the Brent Alpha platform and the Brent Bravo concrete legs.Shell is in the process of dismantling the 40-year-old Brent field east of the Shetland islands, in what is known as decommissioning, as its oil and gas reserves dwindle after producing more than 500,000 barre
Santos Acquires ConocoPhillips’ Northern Australia Interests
Santos announced it has acquired ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa.Matt Fox, ConocoPhillips executive vice president and chief operating officer, said, “While we believe the Darwin LNG backfill project remains among the lower cost of supply options for new global LNG supply, this transaction allows us to allocate capital to other projects that we believe will generate the highest…
UK to Account for 35% Offshore Wind in Europe
The UK will account for 35% of the growth in offshore wind over the next five years, followed by the Netherlands and Germany, said , according to WindEurope’s new ‘Wind Energy Outlook to 2023’.In the next five years 22 GW of wind energy capacity will reach the end of its normal operational life (20 years). Most of this will get a lifetime extension. Around 2 GW will be repowered.And another 2 GW will be fully decommissioned. Government policy and regulation is still not as supportive of repowering as it should be, it said."If Governments end…
Chestnut Field Extended Up to Three Years
Partners Spirit Energy and Dana Petroleum will invest £140 million ($177 million) to extend the life of the Chestnut field in the UK North Sea by as much as three years.The companies announced on Friday that they reached a deal with Teekay to extend the employment of the Hummingbird Spirit floating production, storage and offloading unit (FPSO) until March 2023 as the partners plan to drill a fourth production well by the first quarter of 2020.Drilling at Chestnut will kick off before the end of the year and follows a similar investment in…
Eni Committed to Cyprus Exploration
Italian oil major Eni is committed to the exploration of Cyprus' Exclusive Economic Zone and its contractual engagements with the country, its chief executive said on Friday.Turkey said last week it had sent an oil-and-gas drilling ship to waters off southern Cyprus where Greek Cypriot authorities have already awarded hydrocarbon exploration rights to Italian and French companies.In reply to a Reuters request for comment on Eni's position, Chief Executive Claudio Descalzi added the group was planning a joint exploration campaign in the first half of 2020 together with its French partner Total.(Reporting by Stephen Jewkes, writing by Giulio Piovaccari)
Ideol, Taisei Sign Floating Wind Deal in Japan
French floating foundations specialist Ideol and Taisei Corp have signed a Memorandum of Understanding (MoU) for joint development and promotion of concrete foundations for floating offshore wind in Japan using Ideol’s Damping Pool technology.Ideol is a player in floating offshore wind with precommercial- and commercial-scale projects under development globally and with operating units in France and Japan.Ideol is the only floating wind technology supplier benefiting from the return of experience from two floating wind turbines on 2 different continents…
Global Energy Takes Over Nigg Oil Terminal
Global Energy Group has reached an agreement with Repsol Sinopec Resources UK to take over the long-term operation of the Nigg Oil Terminal jetty under a new lease with Crown Estates Scotland.Since cessation of production from the Beatrice oil field, Repsol Sinopec has been exploring reuse options for the facilities at Nigg Oil Terminal, including the jetty.Under the agreed deal, the jetty will be operated as an extension to the Port of Nigg which has already established itself as a leading deep-water port servicing oil and gas, offshore renewables…
India Leads with 18% of Global LNG Regasification Capacity
India is expected to lead with 18% capacity share in the global LNG regasification industry from new-build (planned and announced) projects between 2019 and 2023, according to GlobalData, a leading data and analytics company.The company’s report, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for LNG Regasification Terminals – India Continues to Dominate Global Regasification Capacity Additions and Capex Spending’, reveals that India has the highest LNG regasification capacity additions of 2.7 trillion cubic feet (tcf) globally by 2023 from 17 planned and announced new-build regasification terminals.Of the total new-build capacity…
Brazil Oil Bidding Points to Future Auction Success
Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find.Minister Bento Albuquerque said that Thursday's auction surpassed expectations, following the conclusion of bidding.Oil regulator ANP said that the auction would result in cumulative bonus payments of 8.9 billion reais ($2.16 billion).($1 = 4.1138 reais)(Reporting by Gram Slattery, Marta Nogueira and Rodrigo Viga Gaier; editing by Jason Neely)
BP Wins Offshore Oil Block in Brazil with $75 mln Bid
BP PLC won the production and exploration rights for Brazil's offshore S-M-1500 block in the Santos Basin on Thursday, paying the government a signing bonus of roughly 308 million reais ($74.6 million).Relatively major blocks in the Santos Basin received no offers in the bidding round in Rio de Janeiro, although there was significant interest in the nearby Campos Basin.(Reporting by Gram Slattery, Marta Nogueira and Rodrigo Viga Gaier; editing by Jason Neely)
Shell Consortium, Petronas Win Oil Blocks Off Brazilian Coast
A consortium of Royal Dutch Shell Plc, Chevron Corp and Qatar Petroleum won oil exploration and production rights in the C-M-713 block off the coast of Brazil on Thursday, paying the government a signing bonus of roughly 551 million reais ($133 million).Shortly before, Petronas won a separate offshore block, C-M-661, with a signing bonus of roughly 1.116 billion reais.(Reporting by Gram Slattery, Marta Noguiera and Rodrigo Viga Gaier, editing by Deepa Babington)
GSI Expands in the UK
Offshore equipment and engineered solutions provider Gulfstream Services International (GSI) said it has moved into its new Aberdeen headquarters as part of an effort targeting expansion in the North Sea and beyond.The firm has expanded into an 8,000-square-foot workshop where it will manufacture and then deliver its equipment throughout the Eastern Hemisphere.With plans to increase headcount from 15 to 18 by the end of the year and a strong focus on North Sea decommissioning activity, GSI has invested £3 million into its stock of rental equipment available from the Aberdeen base, including shearing and grappling technology.
Mozambique Awards Rovuma LNG Project Gig
Mozambique Rovuma Venture (MRV) has awarded an engineering, procurement, and construction contract to a consortium of Fluor, JGC, and TechnipFMC for its Mozambique Rovuma LNG Phase 1 project in Cabo Delgado, Mozambique.MRV, a joint-venture composed of Eni, ExxonMobil and CNPC, holds a 70% interest in the exploration and production concession of Area 4, with Galp, Kogas and Empresa Nacional de Hidrocarbonetos (ENH) each holding a 10% interest.The Rovuma LNG Project will produce, liquefy and market natural gas from three reservoirs of the Mamba complex located in the Area 4 block in the Offshore Rovuma Basin.
Angola Seeks to Reduce Gas Flaring to Capture Revenue
Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday.The announcement of efforts to generate more revenues by reducing gas flaring comes as Africa's second largest crude producer faces a fall in output from its mature oil fields."Over the years, Angola has somewhat neglected to capitalize on the natural resources that it has to offer," Mineral Resources and Petroleum Minister Diamantino Azevedo said in a brochure released at an African energy conference in Cape Town.He said Angola produced about 3 billion cubic feet per day of associated natural gas…
Digitalization: Oil Industry Could Save up to $100Bln
The global oil and gas industry can save as much as $100 billion through automation and digitalization in the 2020s, energy research firm Rystad Energy said."As much as $100 billion can be eliminated from E&P upstream budgets through automation and digitalization initiatives in the 2020s. Service companies are reinventing themselves to help operators unlock these savings," said the study by Rystad.In 2018, $1 trillion was spent on operational expenditures, wells, facilities and subsea capital expenditures across more than 3,000 companies in the upstream space.
BOEM Announces New GoM Lease Sale
The US Department of the Interior's Bureau of Ocean Energy Management (BOEM) plans to offer about 78 million acres in a region-wide Gulf of Mexico lease sale scheduled for March 2020.Lease Sale 254, which would include all unleased areas in federal waters in the gulf that are not subject to congressional moratorium, will be the sixth held under the 2017-22 federal OCS leasing program, BOEM said in a press statement.The sale would include all available unleased areas in federal waters of the Gulf of Mexico that are not subject to Congressional moratorium.“Offshore energy development is about furthering America’s energy security…
Transborders Signs up MOL on FLNG Solution
Perth-based company Transborders Energy has entered a Joint Study Agreement (JSA) to work with Japan's Mitsui OSK Lines (MOL) to together continue the development of its Floating LNG (FLNG) Solution and to pursue its deployment on a range of stranded offshore gas resource opportunities.Transborders’ FLNG Solution provides a pre-determined 1.3 MTPA FLNG development concept with a package of streamlined commercial & regulatory approval framework (including LNG buyers) to gas resource owners. Transborders’ Chairman Jack Sato says, “We are very pleased to welcome MOL as a strategic partner to our FLNG Solution.
Cost Estimates at Equinor Norway Fields Goes Up
The cost of developing two major Norwegian oil and gas fields has increased due to the complexity of the projects, with the start of production delayed for one of them.The Ministry of Petroleum and Energy reports on the status of major projects that are currently undergoing development or have recently started operation.Thirteen of Equinor’s projects are on this list. Eight of the projects have reduced costs since submitting their plans for development and operation, one project remains unchanged, while four projects have reported higher costs.Two projects have seen an increase greater than 20 per cent, which is the standard range of uncertainty in PDO cost estimates.
Iran Approves 8 New Offshore Projects
Ports and Maritime Organization (PMO) of Iran has announced the approval of the Marine Structures Licensing Committee with the extension and licensing of operation for 8 offshore structures in the north and south of the country.The Director General of the Ports Engineering of PMO Mohammad Khalili stated that after reviewing the applicants' documents, which were obtained through the Comprehensive Management and Monitoring System of the Iranian Coast, the committee approved with establishment of 4 recreational dock in Guilan province and 2 Dock post at Qeshm Island.He also cited renewal of construction permit for SPM installation in Qeshm Island…
Keppel, Sembcorp Reach Deal with Embattled Brazil Firm
Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras), filed for bankruptcy protection in 2016 after being engulfed in a massive corruption scandal.Keppel and Sembcorp Marine are among a host of firms caught up in the wide-ranging "Car Wash" investigation.
U.S. Drillers Cut Rigs Again: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a seventh week in a row as producers follow through on plans to cut spending on new drilling this year.Drillers cut 3 oil rigs in the week to Oct. 4, bringing the total count down to 710, the lowest since May 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.In the same week a year ago, there were 861 active rigs.The oil rig count, an early indicator of future output, has declined over a record 10 months as independent…
Milito Named NOIA President
Veteran energy industry association executive Erik Milito has been named as the new president of the National Ocean Industries Association (NOIA) and will to take the helm of the offshore energy association effective November 1, 2019.“Erik is a strong leader and an effective communicator, qualities that make him a great fit for NOIA President and will serve our membership well. I am confident in his ability to inspire the NOIA membership and convey to the public the important role that offshore energy plays in America and beyond,” said NOIA…
DoJ Drops Shell Investigation
Royal Dutch Shell said on Wednesday that it had been informed by the U.S. Department of Justice that it had closed its inquiry into Shell over the 2011 $1.3 billion acquisition of a Nigerian offshore oilfield.Shell and Italy's Eni are both currently on trial in Milan on graft allegations revolving around the acquisition of the OPL 245 oilfield."The U.S. Department of Justice (DoJ) has notified us that it has closed its inquiry into Shell in relation to OPL 245.
Mayflower Joins Connecticut Offshore Bids
Mayflower Wind has submitted bids to the Connecticut Department of Energy and Environmental Protection in response to Connecticut's Request for Proposals.Mayflower is a joint venture of Shell New Energies US LLC and EDPR Offshore North America LLC. It has submitted two proposals with the state, for an 800MW development and a 400 MW development.“Governor Lamont has outlined a vision for moving Connecticut toward a clean energy future, and we believe our proposal can play a role in advancing that vision in an affordable manner,” said John Hartnett…
PTTEP, Halliburton Ink Automation Deal
PTTEP, a national petroleum exploration and production company in Thailand, selected Halliburton Landmark for joint development of new well design workflow to automate drilling and completion engineering processes across the well lifecycle, the US-based oilfield services company announced.Halliburton said the new workflow is based on PTTEP well design initiative which will be developed using Landmark Digital Well Program, an application within DecisionSpace 365, which transforms how wells are constructed and delivered by combining a digitalized planning and design process with engineering models on a single and open platform.
US DOJ Closes Eni Investigations
The U.S. Justice Department has closed its investigations into alleged corruption by oil major Eni in Nigeria and Algeria without taking any action, the Italian energy group said on Tuesday.Eni, the biggest foreign oil and gas producer in Africa, is currently on trial in Milan on graft allegations revolving round the acquisition of a giant Nigerian oilfield in 2011.In that case Eni and peer Royal Dutch Shell are accused of buying the OPL 245 offshore field for about $1.3 billion in a deal that spawned one of the industry’s largest graft scandals.Milan prosecutors allege that about $1.1 billion of the total was siphoned off to pay politicians…
Schlumberger Debuts At-bit Steerable System
Schlumberger Introduces At-Bit Steerable System for Drilling Horizontal Wells in a Single RunNeoSteer at-bit steerable system design integrates a unique cutting structure and steering mechanismsSchlumberger introduced today the NeoSteer at-bit steerable system (ABSS) at Society of Petroleum Engineers Annual Technical Conference and Exhibition (SPE ATCE). The NeoSteer ABSSs improve horizontal well drilling performance by providing high-dogleg capability and increased rate of penetration in the curve and the lateral.Developed as a fit-for-basin solution…
Halliburton Introduces Automated Drilling Telemetry Service
Quick and reliable data transmission enables faster well deliveryOilfield services company Halliburton released a new measurement while drilling (MWD) technology designed to provide quick and reliable downhole information at extended depths to deliver wells faster. This capability helps operators drill longer laterals, make improved geosteering decisions and reduce well time to maximize their asset value, the manufacturer said.The QuickPulse Automated Directional Gamma Service system combines directional, vibration and gamma ray sensors with a strong transmission signal that overcomes most downhole interference.
Total Closes Mozambique LNG Purchase
Total has completed the acquisition of Anadarko's 26.5% stake in Mozambique's liquefied natural gas (LNG) project for $3.9 billion, the French oil major said on Monday."Mozambique LNG is a one of a kind asset that perfectly fits with our strategy and expands our position in liquefied natural gas," Total chairman and CEO Patrick Pouyanne said in a statement.Anadarko, which had led the southern African LNG project, was taken over by Occidental Petroleum Corp. and replaced as Mozambique LNG operator when Total agreed to buy Anadarko's African assets for $8.8 billion as part of the takeover.Mozambique LNG is the country’s first onshore LNG development.
Huge Opportunities in Norwegian Shelf
Even after more than 50 years, the Norwegian shelf still holds vast opportunities, says Norwegian Petroleum Directorate (NPD).According to NPD's 2019 resource report on fields and discoveries, more than half of the estimated remaining resources on the Norwegian shelf have already been discovered. 85 per cent are located in the fields and 15 per cent are located in discoveries that are being considered for development.There is also a potential that even more proven oil and gas could become profitable to produce by applying new technology and knowledge, it said.When Johan Sverdrup and Skogul come on stream this autumn, there will be 88 producing fields on the shelf.
NGA in Rig Settlement Pact with Industri Energi
The Norwegian Shipowners' Association (NGA) reached an agreement with Industri Energi and SAFE in the Mid-Term Settlement for employees on mobile offshore units, drilling and catering on permanently placed facilities on the Norwegian Continental Shelf, after mediation at the national Mediator’s Office several hours past deadline.The result involves a general wage growth of 3,6%. A strike among under 1600 rig workers is thus prevented."For the sake of the competitive situation and jobs on the Norwegian Continental Shelf, it is essential that we have avoided conflict and feel both parties have had to give and take…
Excelerate to Build FLNG Terminal in Philippines
Philippine authorities have given Excelerate Energy LP permission to proceed on plans to develop a floating natural gas import terminal to supply existing and new power generation.Texas-headquartered player in floating LNG regasification solutions, received a notice to proceed (NTP) from the Philippine Department of Energy (DOE) to develop Luzon LNG, which would be a floating liquefied natural gas (FLNG) terminal in the Bay of Batangas.The project, Luzon LNG, will supply natural gas, sourced from LNG, to existing and new gas-fired power plants in the region that provide electricity to Luzon including the area of Metro Manila.
GEO Installs Ulstein Blue Box in 2 Vessels
The Norwegian ship owner Golden Energy Offshore has decided to install Ulstein Blue Box on two of their vessels.The offshore service vessels for the global oil and gas service industry quoted ship owner Per Ivar Fagervoll as saying: “With Blue Box we will manage to reduce our fuel consumption and environmental footprint further, which is very important to us.”Golden Energy Offshore is actively pursuing environmental friendly solutions, and has a green profile. Together with Ulstein, they are now entering into a Blue Box pilot project on two of their vessels.“With this pilot project and the programs aligned with this agreement we will be enabled to consolidate…
OMP Acquires Stake in TEN
The maritime and offshore energy institutional investor OMP is acquitting of US$35m of Series G Redeemable Convertible Perpetual Preferred Shares of the Greek shipping company Tsakos Energy Navigation (TEN) in a private placement.Watson Farley & Williams (WFW) is advising OMP in preferred stock transaction.The Series G Preferred Shares will participate on an as-converted basis in any dividends declared and paid on TEN’s common shares and will be convertible at any time on a three and one-third-for-one basis into TEN common shares.Within the first quarter of 2021…
Corvus, Kawasaki Pact for Novel ESS for Offshore Vessels
Kawasaki Heavy Industries (KHI) and Corvus Energy have reached a licensing agreement for a novel lithium-ion capacitor (LiC) technology developed by Corvus for KHI.The LiC-based energy storage systems (ESS) to be sold by Corvus to offshore vessels and oil rigs globally.“Corvus Energy has been an outstanding development partner for the LiC technology,” says Takeshi Ohata, Managing Executive Officer of Kawasaki Heavy Industries at their headquarters in Tokyo, Japan.“Their battery engineering experience and marine market leadership gives Corvus Energy expertise unlike any other.
CPIH, Equinor Team Up on Offshore Wind
Chinese power giant China Power International Holding (CPIH) and Norwegian energy firm Equinor have inked a memorandum of understanding (MoU) to cooperate on offshore wind projects off China and Europe.“China is rapidly increasing its use of renewables and natural gas. The country is set to become the world’s biggest offshore wind market by 2030. As an offshore wind major, Equinor is excited to collaborate with CPIH to develop offshore wind” says executive vice president New Energy Solutions, Pål Eitrheim.“CPIH, as a leading power generator in China, has been striving to develop its international strategy to become a pioneer of reliable energy provider worldwide.
Four Steps to Successful Rig Intake
After a period of dormancy, drilling activity and rig utilization is up. Yet despite an increase in demand for rigs, there is still an oversupply. Few long-term fixtures, gaps in schedules and rigs moving between different regulatory regimes create new rig intake challenges.What does this mean for your rig intake strategy? Your preference may be to contract a hot rig, as the operational risks are significantly less when compared to contracting a rig which has been nonoperational. But are the hot rigs actually “hot”? And what happens if you can’t get a hot rig?The rig intake process can be extensive and unpredictable.
Equinor to be ‘Offshore Wind Major’
The multi-billion capital investment by Equinor at its new Dogger Bank Offshore Wind Farm will see it rival its major oil and gas projects, according to Rystad Energy."The offshore wind project Dogger Bank in the UK North Sea will not only be Equinor’s largest project through 2026, it will also rank as the sixth largest offshore development project in the world during this period," said the energy research firm.UK authorities announced on Friday that Equinor and joint venture partner SSE have been chosen to develop the world’s largest offshore wind farm…