Top Shallow Water Driller Raises $225 Mln in Oslo IPO
Shelf Drilling, a Dubai-based contractor for shallow water rigs, raised about $225 million by issuing new shares priced at 65.35 Norwegian crowns ($8.09) per share, the company said on Friday, the latest drilling firm to list in Oslo to raise capital.Its initial public offering comes four years after the company scrapped plans to list in London just as the oil market's downturn started.Demand for shallow water or jack-up rigs has been steadily growing through 2017 after hitting a bottom at the end of 2016. Brent crude is trading at almost $74 a barrel, up from $27 a barrel in Jan.
Schlumberger Wins in US Supreme Court on Patent Damages
The U.S. Supreme Court ruled on Friday that companies can recover profits lost because of the unauthorized use of their patented technology abroad in a victory for Schlumberger NV, the world's largest oilfield services provider.The 7-2 decision overturned a lower court's ruling that had enforced limits on applying U.S. patent law overseas and reduced by $93.4 million the damages sum that rival ION Geophysical Corp had to pay for infringing Schlumberger technology that helps find oil and gas beneath the ocean floor. Both companies are based in Houston.The decision expands the ability of patent owners to recover foreign-based damages…
Hundreds Surf in Record Offshore Gas Protest
Hundreds of Israeli surfers in black skull-and-crossbones shirts took to the waves on Friday in what they said was a record-breaking protest against potential environmental damage from off-shore gas development.Organizers said 992 people, among them athletes and actors, paddled out and held hands to form a circle opposite Herzliya, promoting their demand that a planned gas rig be relocated further from Israel's Mediterranean coast.A slogan on their shirts read: "Don't poison us."Israeli authorities say the new platform poses no environment or health threat.Friday's event would be submitted to Guinness World Records for recognition, organizers said.
TWMA Acquires US Service Company
TWMA, provider of specialized drilling waste management services, has announced its acquisition of US-based Dynamic Oilfield Services in an eight-figure deal. The move comes as TWMA continues to implement an ambitious growth strategy, with internationalization and service diversity at its heart. The US land drilling market is currently recognized as the fastest growing drilling market in the world, Dynamic Oilfield Services deploys its solids control and surface equipment divisions in some of the most prolific onshore basins in the US. Commenting on the acquisition…
Oil Exploration Is Ramping Up Off Norway
Oil firms are expected to drill 40-50 exploration wells off Norway this year compared to 36 wells drilled the previous year, the Norwegian Petroleum Directorate said on Thursday.The Norwegian continental shelf still held an estimated 4 billion cubic meters (25.2 billion barrels) of oil equivalents in undiscovered petroleum resources, with two-thirds located in the Arctic Barents Sea, it added.Half of estimated undiscovered resources in the Barents Sea, however, are located north of the areas opened for petroleum activities, and it's unclear when oil firms can get access to them.(Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)
Lukoil, Eni Discussing Possible Swap of Mexico Licences
Lukoil, Russia's second biggest oil producer, is considering swapping licences with Italy's Eni in Mexico, First Deputy Chief Executive Ravil Maganov said on Thursday.In March, Eni and Lukoil won offshore exploration and production licences in the Cuenca Salina basin in Mexico.Eni is set to hold 75 percent in the joint venture which will operate the licence while Lukoil will hold remaining 25 percent.Lukoil also owns a 50 percent stake in the Amatitlan Block Project, where Petrolera de Amatitlán SAPI de CV acts as project operator.In 2017, Lukoil also won a tender for Block 12, located in the shallow waters of the Gulf of Mexico.(Reporting by Oksana Kobzeva; writing by Ka
Hess Warns Focus on Returns Now Will Hurt US Shale Long-term
Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital industry investment in the long term, a leading U.S. shale executive said on Thursday.Shareholders have been pushing for more dividends and buybacks from U.S. shale companies, whose heavy investment in production has helped the United States overtake Saudi Arabia to become the world's second biggest oil producer after Russia."Investor sentiment in the last year has really, markedly changed. I'd say it's gone from, 'drill…
Norway Oil Workers Threaten to Strike
Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this summer after rejecting a proposed wage deal, the Safe labor union said on Thursday.Industri Energi, the largest labor union representing drilling workers, last month agreed to a deal, while the smaller Safe said it would ask its members to vote on the offer made by the Norwegian Shipowners' Association.A strike could hit oil companies' exploration efforts later this summer, although a mandatory round of mediation must be held before any conflict is allowed under Norwegian law.(Reporting by Terje Solsvik, editing by Gwladys Fou
ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered. The well was drilled to 5,504 meters depth in 1,940 meters of water by the Stena Carron drillship on May 25, 2018. The Longtail-1 well is located approximately 5 miles west of the Turbot-1 well and follows previous discoveries on the Stabroek Block at Liza…
Wellsite Taps Roger as VP of Administration
Drilling and completion rental equipment provider Wellsite Fishing and Rental Services, LLC has promoted Jessica Roger to vice president of administration. She will be located at the corporate office in Broussard, La.Roger, who previously served as secretary and treasurer for Wellsite, will be responsible for overseeing internal administration, directing administrative functions in accordance with industry standards, regulatory agencies and company policies and leading, guiding and mentoring staff in their tasks.
SSE to Enter Seagreen Scottish Offshore Wind Project into Subsidy Auction
British utility SSE plans to enter its Seagreen wind project that lies off the coast of Scotland into Britain's auction for renewable subsidies next year, it said on Wednesday.* Seagreen Wind Energy Limited, developing the project, is a 50/50 joint venture between SSE and Fluor Limited, the British operating arm of Fluor Corporation.* The project initially received planning consent in 2014.* "Since 2014, offshore wind technology has advanced significantly with larger and more efficient turbines able to generate additional power," SSE said.* The cost of producing electricity from wind farms has plummeted in the past few years, with the latest renewable auction clearing las
Total's North Sea Oilfield Workers Hold Strike Ballot
Britain's biggest labour union is balloting rig workers at three of Total's North Sea oil platforms over a potential strike due to the company's refusal to reduce the number of unpaid working days, the union said on Wednesday.After the oil price crash in 2014, the workers agreed to work an extra 14 days unpaid to help the company during the downturn, Wullie Wallace, regional officer of Unite the Union said.However, with the recovery in oil prices to around $75 a barrel, their highest in over three years, the workers want to return to the previous system…
Macron Approves Offshore Windpower Projects
Leading executives at French energy groups EDF and Engie said on Twitter that several offshore windpower projects had been "confirmed" by President Emmanuel Macron."Happy to see @EmmanuelMacron confirmed our three parks," EDF executive Bruno Bensasson said in a post on the Twitter messaging network.Engie executive Gwenaelle Huet also said that Macron had approved the windpower projects in a similar Twitter post.The future of the projects had been in some doubt after the French senate earlier this year rejected a government proposal to renegotiate and possibly cancel projects to generate a combined 3,000 megawatts of offshore wind power on six sites on France's west coast
DNV GL, EU to Promote Offshore Wind Market in Indian
DNV GL, the world’s largest resource of independent energy experts and certification body, is today showcasing the final reports in a study which demonstrates the commercial and technical feasibility of the offshore wind market In India. Co-funded by the European Union (EU), GPCL and ReNew Power the Facilitating Offshore Wind in India (FOWIND) project will enable organisations to make future investments in the region. India has made strong commitments under the UN Paris Climate Agreement and announced ambitious renewable energy goals in 2015, targeting 175 GW of renewable energy capacity by 2022, including 60 GW from wind energy.
House Set to Debate Offshore Wind Energy Bills in US Waters
A U.S. House committee will kick off debate next week on three new bills aimed at boosting offshore wind energy leases in federal waters.The House Subcommittee on Energy and Mineral Resources will hold a hearing on Tuesday on three bipartisan offshore wind proposals.One proposal would require the Interior Department to develop a leasing plan or schedule for federal offshore leases, a second would create a federal grant for educational or career programs for the offshore industry, and a third would give Interior the authority to manage the federal submerged lands off of territories such as Guam for offshore energy.
Equinor Awards Light Well Intervention Contract to Akofs
Akofs Offshore has been awarded a contract for light well intervention services using the Akofs Seafarer vessel for all Equinor-operated licences in the period 2020 to 2025.Equinor is the operator of about 560 subsea wells on stream on the Norwegian continental shelf. The wells require maintenance, repairs and new production actions. In 2017 Equinor performed 55 light well intervention operations, the average break-even for new production being less than USD 4 per barrel.Granted for a period of five years the contract for wireline operations on Equinor’s subsea wells includes an option for one 3-year extension.
Angola's Oil Exports Could Drop to 2006 Lows
Angola's preliminary crude oil export plan for August includes 43 cargoes, down from July's 48 cargoes, according to a loading program on Tuesday.The schedule, which equates to a daily rate of around 133,000 barrels per day, will be the smallest since the 132,000 bpd registered in December 2006, based on Reuters data.The preliminary schedule is issued to buyers to give them an indication of what will be available, but often excludes one or two small grades, meaning the final plan is subject to change.Output in Africa's second-largest exporter has been steadily falling because of a lack of investment in its ageing offshore oilfields due to a oil price crash that began in 2
CNOOC Developing New Deep Sea Gas Block in South China Sea
China's offshore oil and gas producer CNOOC has started developing a new gas field in the South China Sea, the official Xinhua News Agency reported on Tuesday.The Lingshui 17-2 gas field is the first deep sea gas block fully operated by a Chinese company, Xinhua said citing CNOOC officials.The deep sea project, which was discovered in 2014, is 150 km (94 miles) south of China's southern Hainan island, with an average operational depth of 1,500 metres, according to a Reuters report from that year.CNOOC is ready to start building a subsea level platform used for drilling, Xinhua said.(Reporting by Meng Meng and Aizhu Chen; Editing by Tom Hogue)
Equinor Awards $3.7 Billion Service Deals
Norwegian oil and gas firm Equinor has awarded drilling and well service contracts worth 30 billion Norwegian crowns ($3.68 billion) to Schlumberger, Halliburton and Baker Hughes, it said on Monday.The contracts cover integrated well services, such as directional drilling, drill bits, fluids and cementing, for an initial four years, and can be extended for up to 10 years."The purpose of integrated drilling and well services is to clarify roles and responsibilities," Equinor, formerly known as Statoil, said in a statement."This results in less interfaces and more clearly defined responsibilities, facilitating more seamless planning and implementation of the operations betw
Norway Awards Oil Permits to 11 Firms in Arctic Licensing Round
Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.Nine of the licences are located in the Barents Sea and three in the Norwegian Sea off central Norway, the Ministry of Oil and Energy said on Monday."This licensing round confirms that the oil companies see opportunities for further profitable petroleum activity in the north," Oil and Energy Minister Terje Soeviknes said in a statement.Equinor…
Race Bank Offshore Wind Farm Officially Opens
A new offshore wind farm officially opened this week that is capable of powering over half a million U.K. homes.The Race Bank wind farm located off the North Norfolk coast is capable of generating 573 megawatts (MW) of green electricity from its 91 Siemens Gamesa 6 MW wind turbines.
US Announces $18.5 Mln for Offshore Wind Research
The U.S. Department of Energy (DOE) announced today that $18.5 million has been made available for offshore wind research and development (R&D).The DOE selected the New York State Energy Research and Development Authority (NYSERDA) to administer an $18.5 million cooperative innovation hub that will bring together industry, academia, government and other stakeholders to advance offshore wind plant technologies, develop innovative methods for wind resource and site characterization, and develop advanced technology solutions for installation…
Norway Wants to Build Floating Wind Farms
Norway's energy minister will meet with companies on Wednesday to discuss the potential construction of offshore floating wind farms, he told Reuters on Friday.The meeting is the first concrete step to spur development of offshore floating power generation, after the government said last December it would seek to accommodate such plans."Wednesday next week I will have a meeting with different stakeholders in offshore wind and discuss both the opening process and the regulatory framework," Terje Soeviknes said.Unlike offshore wind turbines that are fixed to the seabed…
Fugro Tallies ROV Services Contracts with Petrobras
Fugro said it has been contracted to provide remotely operated vehicle (ROV) services to support Petróleo Brasileiro S.A. - Petrobras in its exploration and production activities.Two new contracts will see Fugro’s ROV spread working to support drilling related activities, such as towing, mooring, commissioning and decommissioning, and positioning of production and drilling units, as well as installation of subsea equipment in Petrobras oil fields. The ROVs are being deployed in water depths of 3,000 meters on the Brazilian continental shelf.The first of the two contracts commences in the second quarter of 2018 and is being executed from the Far Santana…
Cairn Buys Into Seacrest-backed British North Sea Oilfield
Cairn Energy has bought a 50 percent stake in the Agar-Plantain oilfields in the British North Sea from Azinor Catalyst, the companies said on Thursday, amid renewed interest in North Sea assets.Oil producers are returning to the North Sea having sold many assets in the past few years, often to private equity investors, after oil prices collapsed."There has clearly been a sentiment change in the North Sea. Certainly from our perspective since the beginning of the year. The oil price is up, costs remain low and it's a really exciting window of opportunity to invest in the North Sea…
Enbridge Starts Valley Crossing Natgas Pipe Work at Tex-Mex Border
Canadian energy company Enbridge Inc said it started construction of the offshore border crossing section of its $1.6 billion Valley Crossing natural gas pipeline between Texas and Mexico, according to a federal filing made available on Wednesday.The 168-mile (270-kilometer) Valley Crossing project is designed to carry up to 2.6 billion cubic feet per day (bcfd) of gas from Texas to help Mexico meet its growing power needs as generators there shift away from fuel oil and imported liquefied natural gas.One billion cubic feet is enough to fuel about five million U.S.
Shell Feeds Gas to Australia's New Prelude FLNG
Royal Dutch Shell has introduced gas to its 490 meter (1,600 ft) long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on Wednesday.Gas was fed to the unit from liquefied natural gas (LNG) carrier Gallina, she said.
Double Bibby Win for MDL
Maritime Developments (MDL) has won a flex lay project with Bibby Offshore just after completing an umbilical installation with the EPIC contractor.The recently concluded project in a North Sea gas field used the MDL RDS-400, a 400-mertic-ton reel drive system, operated by MDL offshore personnel and supported by the company’s 3mradius departure chute.
New Hires Boost RCG US Team
The Renewables Consulting Group (RCG), has announced the appointment of several new hires in its New York office to support the accelerating offshore wind market in the United States and renewable energy projects worldwide. The experienced personnel include AJ Negrelli, Emily Kuhn, and Craig Hutchinson.Negrelli is a respected project manager and engineer with practical experience delivering offshore wind construction projects, working for the major wind turbine supplier Siemens Gamesa Renewable Energy. Negrelli was deputy construction project manager of the recently completed 574 MW Race Bank project in the United Kingdom.
Teekay Offshore Partners Appoints Interim CFO
Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. announced that Tim Cowan join as Interim Chief Financial Officer of Teekay Offshore Group Ltd., a management services company that provides services to the Partnership’s subsidiaries while the company conducts a search for a permanent CFO.Cowan holds the position of Senior Vice President, Energy, at Brookfield Asset Management. Brookfield became a co-sponsor of the Partnership in September 2017, when it made a significant investment in the Teekay Offshore Group in…
Exxon Starts Drilling at Offshore Guyana Projects
Exxon Mobil Corp said it has commenced development drilling in the first of three offshore Guyana projects, which could produce more than 500,000 barrels of oil per day. Development drilling began in May for the first of 17 wells planned for Liza Phase 1, the company said.So far, Exxon Mobil and its co-venturers have discovered more than 3.2 billion oil-equivalent barrels estimated recoverable resources on the 6.6 million acre Stabroek Block.Liam Mallon, president of ExxonMobil Development Company, said, “We are well on our way to producing oil less than five years after our first discovery…
OPEC Output Hike Will Squeeze Oil Buffer to Historic Lows
The oil industry will face the biggest squeeze on its spare production capacity in more than three decades if OPEC and its allies agree next week to hike crude output, leaving the world more at risk of a price spike from any supply disruption.Spare capacity is the extra production oil producing states can bring onstream and sustain at short notice, providing global markets with a cushion in the event of natural disaster, conflict or any other cause of an unplanned supply outage.That buffer could shrink from more than 3 percent of global demand now to about 2 percent…
EnBW, Trident Winds JV for Offshore Wind Project in California
EnBW Energie Baden-Württemberg AG is continuing its strategy of capturing growth in new international markets in the renewable energy sector. Following its recent entry into Taiwan, EnBW has now expanded its activities to the United States of America by establishing a regional subsidiary, EnBW North America, and forming a joint venture with Trident Winds Inc. to develop an offshore wind project off the coast of in Central California. This represents the EnBW Groups first step toward tapping into the high potential of the American market. Several of the United States have set ambitious goals for the expansion of offshore wind.
Oil Prices Fall On Rising U.S. and Russian Supplies
Oil prices fell on Monday, pulled down by rising Russian production and the highest U.S. drilling activity in more than three years.Analysts expect higher U.S. output to offset supply curbs by the Organization of the Petroleum Exporting Countries (OPEC), which have been in place for 18 months and have pushed up prices significantly over the past year.Benchmark Brent crude was down 65 cents at $75.81 a barrel by 1330 GMT. U.S. light crude fell 60 cents to $65.14.The number of new rigs drilling for oil in the United States rose by one last week to 862, its highest since March 2015, data from energy services company Baker Hughes showed.That suggests U.S.
Rowan Secures ExxonMobil Drillship Contract
Contract drilling services provider Rowan Companies plc announced that the one of its R-Class drillships, Rowan Relentless, has been awarded a contract by ExxonMobil to drill a prospect in the U.S. Gulf of Mexico.The contract is expected to commence in September 2018 and last for 80 days, followed by four one-well, priced options.
ENI on Track to Double Ghana's Gas Output
Italy's ENI is on track to deliver the first gas from its Ghana operations next month, with output rising to 180 million cubic feet per day by year end, enough to more than double national output, officials told Reuters on Friday.ENI, which began oil production from a 45,000 barrel-per-day reserves a year ago, will start pumping natural gas on June 26 from its Sankofa reserves in a second phase of the company's $7.9 billion Offshore Cape Three Point project."We are on track and working full speed to deliver this month," an ENI source told Reuters, declining to be named until an official announcement.
Researchers Set Out to Future-proof Offshore Wind Turbine Monopiles
A new research project aims to improve the design of scour protection around offshore wind turbine monopiles, as well as future-proofing them against the impacts of climate change.'The effort, part of PROTEUS, an EU-funded Hydralab+ project, will see leading scour researchers from Ghent University, Leibniz University Hannover and the University of Porto, alongside IMDC nv and the Department of Mobility and Public Works (Belgium), collaborate at HR Wallingford’s Fast Flow Facility (FFF).PROTEUS, which stands for the ‘PRotection of Offshore…
New Oil Discovered in the North Sea
Equinor and partners Lundin and Spirit Energy have struck oil in the PL 167 licence at the Utsira High in the North Sea.The discovery is currently estimated to contain 15-35 million barrels of recoverable oil equivalent.“We are very pleased to announce the first Equinor discovery,” said Nicholas Ashton, Equinor’s senior vice president, Exploration, Norway & UK.“This is a good discovery which we expect will be commercial. In addition, the results from the drilling indicate an upside potential in this discovery,” Ashton pointed out.The Lille Prinsen well is located 200 kilometers west of Stavanger and northwest of the Johan Sverdrup field.
Equinor Deepens Its Offshore Brazil Portfolio
Equinor has expanded its portfolio in Brazil’s prolific Campos and Santos basins after winning the Uirapuru and Dois Irmãos blocks in the 4th Production Sharing Bidding Round in Brazil.Equinor, ExxonMobil and Petrogal Brasil presented the winning bid (75.49% profit oil) for the Uirapuru production sharing contract in the Santos basin. Petrobras exercised its right to enter the consortium and will be the operator with 30% equity.The final equity distribution is Petrobras (30% operator), Equinor (28%), ExxonMobil (28%) and Petrogal Brasil (14%). The pre-determined signature bonus to be paid by the bidding consortium is BRL 2,65 billion (approximately $682 million).
Petrobras Still Seeking to Boost Exploration Portfolio
Brazil's state-controlled oil company Petroleo Brasileiro SA remains interested in expanding its exploration portfolio, new Chief Executive Officer Ivan Monteiro said on Thursday following an auction of offshore oil blocks.Petrobras, as the company is known, joined the consortia that won all three blocks awarded at the auction, days after Monteiro was named CEO amid a crisis over diesel prices that led to the resignation of his predecessor.Reporting by Marta Nogueira
TechnipFMC Awarded Pluto Contract
TechnipFMC said it has been awarded a contract by Woodside to upgrade the Pluto Platform Offshore for water treatment, located offshore Western Australia.The contract includes the engineering, procurement, construction, installation and commissioning (EPCIC) of the Pluto Water Handling Module. This module, to be installed on the existing Pluto Alpha Gas Production Platform, will consist of facilities for water separation and treatment, together with upgraded power generation units.Nello Uccelletti, President of TechnipFMC's Onshore/Offshore business…
LOC Names Cummins Energy Projects Development Director
International marine and engineering consulting firm LOC has appointed ex-Head of Engineering at BP, Ian Cummins as its new Energy Projects Development Director. Ian will focus on the oil and gas and renewables markets, and help to identify and develop new and innovative engineering opportunities to progress the business.Cummins brings extensive major project management and engineering experience to LOC, gained from working on exceptionally large projects, significantly boosting LOC's specialist expertise in this area. Throughout Cummin's career he has worked for an operator…
Phoenix Petroleum, CNOOC Partner for LNG Terminal
Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural gas in the country.The Philippines is seeking investors to build a storage and distribution facility for imported LNG as it moves to replace its Malampaya gas reserves, expected to be depleted by 2024.Phoenix Petroleum, owned by a local businessman who helped bankroll President Rodrigo Duterte's 2016 election campaign, said it had signed a memorandum of understanding with CNOOC Gas and Power Group Co Ltd.The two companies agreed to "study…
Lukoil Aims to Invest $270 mln in Exploration at Kazakhstan's Zhenis Block
Russia's second largest oil company Lukoil plans to invest $270 million in exploration at the Zhenis licence area in the Kazakh part of the Caspian Sea, Lukoil's president Vagit Alekperov said in Astana on Tuesday.Lukoil and Kazakh state oil company KMG signed an agreement in principle on Tuesday for possible work on the Zhenis licence area which lies at a depth of 75 to 100 metres and is located 180 kilometres from Kazakhstan's Aktau port.The two companies will establish a consortium after completing procedures needed for the agreement to enter force, Lukoil said.
Johan Sverdrup Drilling Platform Installed
The 22,000-tonne topside for the drilling platform was lifted into position in one single lift on the Johan Sverdrup field last weekend. Equinor and the Johan Sverdrup partners are the first users in the world of this ground-breaking technology.On Thursday, May 31, the topside for the Johan Sverdrup drilling platform sailed from the Aibel yard in Haugesund to Bømlafjorden at Stord.Here the 22,000-tonne steel structure was transferred from the barge to Pioneering Spirit, the world’s biggest heavy-lift vessel. All set for the 11-hour journey to the jacket waiting for its topside on the Johan Sverdrup field.After initial preparations…
East China LNG Terminal Records 93% Sales Increase
A liquefied natural gas (LNG) import terminal in east China operated by China National Offshore Oil Company, or CNOOC, recorded an increase of 93 percent in gas sales in the first five months of this year, the state oil company said on Monday,CNOOC's LNG sales from the Ningbo terminal in Zhejiang province hit 2 million tonnes by the end of May, nearly doubling the amount from a year ago, according to a statement posted on CNOOC's website.The gas sales are expected to head higher in the coming few months as demand for the fuel rises with hotter summer temperatures.The report did not give a breakdown for sales via pipeline and LNG trailers, the latter has boomed since last
CNOOC Leases Bigger FSRU to Boost LNG Imports
The trading arm of China National Offshore Oil Corp (CNOOC) struck a three-year lease for a bigger floating storage and regasification unit (FSRU) from Hoegh LNG as it seeks to boost imports of liquefied natural gas (LNG).In a statement, shipowner Hoegh LNG said its Esperanza FSRU was contracted to CNOOC Gas & Power Trading and Marketing.The floating liquefied natural gas (LNG) import terminal will be based in Tianjin as a replacement for Hoegh's GDF Suez Cape Anne FSRU, recently redeployed from China to India.The Esperanza is larger, with a storage capacity of 170…
Trump Administration Mulls New Plan to Help Ailing Coal, Nuke Plants - Bloomberg
Trump administration officials are considering requiring grid operators to buy electricity from ailing nuclear and coal-fired power plants to keep them from being shuttered, according to a Bloomberg news report on Friday that cited a draft memo.If adopted, the move would mark an unprecedented intervention in power markets, and would serve the administration's goal of bolstering America's struggling coal and nuclear industries that have been shrinking amid competition from natural gas, solar and wind power.Under the plan, the U.S. Department…
PetroChina to Add 690 Wells at Liaohe Field
Top Chinese oil and gas firm PetroChina is adding new production wells at one of its main oilfields, in northeast China, aiming to build 1.06 million tonnes of new annual capacity this year, parent company CNPC said on Friday.PetroChina plans to drill a total of 690 new wells this year at the Liaohe field in Liaoning province, part of the state oil major's campaign to sustain production at mature fields, which also include top field Daqing in Heilongjiang province further north.PetroChina wants to maintain Liaohe's output at 10 million tonnes per year (or 200,000 bpd) after decades of development, CNPC said,The major's production stabilizing effort comes as benchmark Bren
Total Determined to Drill Amazon Basin as Greenpeace Storms AGM
Total is determined to push ahead with its plans to drill for oil in the Amazon basin, it said on Friday as Greenpeace activists interrupted its annual general meeting in protest at the project.The French oil major wants to explore Brazil's Foz do Amazonas basin, but Brazil's environmental agency rejected its licence application on Tuesday for a fourth time.As the company's annual general meeting opened in Paris on Friday, four activists from Greenpeace descended by rope from the ceiling above the stage, unfurling banners reading "Let's save the Amazon's coral reef".At least a dozen others managed to enter the hall…
TechnipFMC Wins Subsea Contract Offshore China
TechnipFMC said it has been awarded a subsea contract by CNOOC Limited for the Liuhua 16-2, 20-2 and 21-2 Oilfield Joint Development Project in the South China Sea, at water depths ranging from 380 to 430 meters.The contract covers the engineering, procurement and construction (EPC) of subsea equipment, including 26 units of Enhanced Horizontal Christmas Trees (EHXT) as well as wellheads, subsea control systems, manifolds, tie-in systems and intervention workover control systems (IWOCS). This contract also covers support services for the installation and commissioning…
Offshore Oil: Tullow eyes Ghana Assets
Tullow Oil is interested in new oil blocks off Ghana's coast as part of the British explorer's plans to consolidate its operations in the West African nation, Chief Executive Paul McDade said. Tullow is leading two operations offshore Ghana, including the country's flagship 100,000 barrel-per-day Jubilee field, which began commercial production in late 2010. Ghana's energy ministry said this month it would award nine new upstream oil blocks for commercial exploration off its coast beginning this year. "We as a company want to consolidate our presence in Ghana after our investments in Jubilee and TEN (Tweneboa, Enyenra, Ntomme).
Sri Lanka Signs Deal for $50 Mln Offshore Seismic Study
Sri Lanka on Wednesday signed an agreement with a subsidiary of U.S.
SOCAR Inks Deals for Caspian Fields with Equinor
Azeri state oil company SOCAR and Norway's Equinor on Wednesday signed a risk service contract for the development of the Karabakh offshore oil and natural gas field in the Caspian Sea.The two companies also signed a product-sharing agreement for Ashrafi, Dan-Ulduzu and Aypara exploration area."The agreements signed today represent a natural next step in the region. This will strengthen our position in a prolific basin and develop growth options," Equinor Chief Executive Eldar Saetre said in a statement.To operate the licences, Equinor and SOCAR will form a 50-50 joint operating company.
ABB to Equip High-spec Vessel for Largest Offshore Wind Farm
ABB technology allowing integration of batteries receives major vote of confidence as Louis Dreyfus Armateurs orders second wind farm service vessel featuring a wide scope of ABB’s solutions.Maritime transportation group Louis Dreyfus Armateurs (LDA) will add a second 83 meter windfarm service operation vessel (SOV) to its fleet, featuring an extensive range of ABB’s technology, with the award-winning power distribution system Onboard DC Grid at its core. The vessel will support operations at Hornsea Project Two off the UK coast, which, upon completion in 2022…
Van Oord Wins Taiwanese Offshore Wind Contract
Dutch marine contractor Van Oord said on Wednesday it had won a 500 million euros ($579 million) contract to build a 640 megawatt (MW) offshore wind farm in Taiwan.Van Oord will design, manufacture and install the eighty foundations for the wind farm, to be constructed eight kilometres (5 miles) off the coast of Yunlin prefecture.Installation will begin in 2020, Van Oord said, with a capacity of 350 MW connected to the Taiwan power grid that year and the remaining part in 2021.The project is part of the Taiwanese government's plans to install offshore wind farms with a total capacity of 5…
Refit for Jack-up at Damen Verolme Rotterdam
Damen Verolme Rotterdam (DVR) completed a refit project on the MPI Enterprise, a 120-metre, self-elevating, DP2, wind turbine installation vessel owned and operated by MPI Offshore, part of the Vroon Group. The works included the installation of spudcans on her four-legged jacking system, which can elevate the vessel at rate of one metre per minute in water depths up to 45 metres. Acquired by Damen Shipyards Group in June 2017, DVR is one of the largest refit and repair yards in Western Europe, capable of accommodating any seagoing vessel or floating offshore unit. Damen Shiprepair & Conversion has worked with MPI Offshore in the past.
Brazil Denies Total License to Drill Amazon Basin
Brazilian environmental agency Ibama on Tuesday rejected French oil company Total SA's application for an environmental license to drill in the sensitive Foz do Amazonas basin.It is the fourth time that Ibama has rejected the application and requested additional information.(Reporting by Jake Spring Editing by Jeffrey Benkoe)
RBS to Cease Financing of 'high-carbon energy' projects
Britain's Royal Bank of Scotland said on Tuesday it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies, joining other banks like HSBC in shoring up its climate policies. RBS said it would no longer directly finance new coal-fired power stations or thermal coal mines, oil sands or Arctic oil projects and unsustainable vegetation or peatland clearance projects. It also said it would no longer lend money to mining companies that generate more than 40 percent of their revenues from thermal coal or power companies that generate more than 40 percent of their electricity from coal.
Lebanon Begins Offshore Oil & Gas Exploration
Lebanon's search for its first oil and gas reserves began on Tuesday after authorities approved an exploration plan submitted by a consortium of France's Total , Italy's Eni and Russia's Novatek. Energy and Water Minister Cesar Abi Khalil also said in a televised statement that Lebanon hoped to launch a second offshore licensing round by the end of 2018 or early 2019. In February, Lebanon signed its first offshore oil and gas exploration and production agreements with the Total-Eni-Novatek consortium for offshore Blocks 4 and 9. Part of Block 9 contains waters disputed with neighbouring Israel but the consortium has said it has no plans to drill in the disputed area.