Ørsted CEO Poulsen to Step Down
Ørsted Chief Executive Henrik Poulsen has resigned after eight years at the helm of the Danish offshore wind farm developer, the company said on Monday.Poulsen, who became Ørsted CEO in 2012, spearheaded the group's transformation from a diversified utility with oil and gas activities into the world's s biggest developer of offshore wind farms."We regret his decision to resign as CEO of Ørsted, but we…
Key Offshore Wildcat Wells At Risk of Being Suspended
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the blended impact of COVID-19 on oil and gas activities and the oil price war, Rystad Energy said Tuesday.These wells, the Norwegian energy intelligence firm said, located in Norway, Brazil, the Bahamas, Guyana, the US, Gambia, and Namibia would target a combined 7 billion barrels of oil…
Oilfield Services Firms Moving Beyond Oil
Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward.In 2014, non-upstream oil and gas activities accounted for 22% of revenues among service suppliers. This share grew to 27% in 2018.According to Rystad Energy, the trend to accelerate in the next decade.“If pure-play contractors within drilling…
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…
Wintershall Dea Trims Norway Portfolio
Wintershall Dea has agreed to sell its stakes in Norway's Nyhamna gas processing terminal and the Polarled gas pipeline to CapeOmega and Solveig Gas to focus on its upstream oil and gas activities, the German oil and gas company said on Tuesday.Cape Omega will acquire a 5% interest in the Nyhamna terminal, while Solveig Gas will buy a 13.3% stake in Polarled, which delivers gas from Equinor's Aasta Hansteen field to Nyhamna…
FPS Market in Americas to Grow 7%
The floating production systems (FPS) market in Americas will register a CAGR of almost 7% by 2023, said a study.The need to meet the increase in demand for energy for both export and domestic consumption in the region is driving the growth of offshore oil and gas activities, which, in turn, will support the growth of the FPS market in Americas during the forecast period, said ResearchAndMarkets report.Offshore…
Wintershall Appoints Helge Beuthan to Head ME
Germany's largest crude oil and natural gas producer Wintershall Holding has appointed Helge Beuthan as new general manager of its Middle East division in Abu Dhabi.Beuthan, the current vice president for global subsurface evaluation, would take over the duties of Uwe Salge in Abu Dhabi on February 1, said a press release from the wholly owned subsidiary of BASF.The previous General Manager will return to Wintershall in Kassel…
Xodus Appoints Dr. Tao Zhao
Xodus Group, an energy consultancy, appointed Dr. Tao Zhao as its new advanced engineering lead.With more than 15 years’ experience in subsea pipeline and riser design and analysis, Dr. Zhao joins Xodus from Heerema Marine Contractors. Throughout his career, he has provided a range of analysis for offshore contractor and engineering consultants in both Thailand and the UK.The appointment of Dr. Zhao…
Agreement Paves Way for South African Offshore Supply Base
South Africa’s first dedicated and customized facility supporting offshore oil and gas activities will be introduced at the Port of Saldanha. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Saldehco Pty Ltd, which was signed off at an official ceremony at the port on Monday, 23 April 2018.Saldehco is a privately owned South African company, comprising principal shareholder HARPS Holdings Pte Limited and local partner Semona Pty Limited.
DNV GL Taps Oudman as Regional Manager
As the global energy transition in the oil and gas industry marks significant changes to come, regional adaptions will pose a broad variation of challenges and opportunities. DNV GL – Oil & Gas has appointed Ben Oudman as Regional Manager for Continental Europe, Eurasia, Middle East, India and Africa to further strengthen the company’s efforts to help the industry overcome barriers to progress. DNV…
Vietnam Renews India Oil Deal In Tense South China Sea
Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region. The moves come at a delicate time in Beijing's relations with Vietnam, which claims parts of the sea, and India, which recently sent warships to monitor the Malacca Straits, through which most of China's energy supplies and trade passes.
Statoil Eyes Japan, US for Floating Wind Projects
Norwegian oil company Statoil is targeting Japan and the U.S. states of California and Hawaii to expand its floating offshore wind turbine business, the head of its New Energy Solutions business told Reuters. Statoil will later this year open the world's first floating wind turbine park off the coast of Scotland, a technology that allows wind energy to be harnessed further out at sea where wind speeds are typically higher.
DONG to Sell O&G Business to Ineos for $1.3 Bln
Danish utility and offshore wind farm developer DONG Energy has agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 billion, it said on Wednesday, the latest in a string of North Sea deals. The sale is a blow to shipping group A.P. Moller-Maersk , which had sought to merge its oil and gas business with DONG into a company worth more than $10 billion as part of a major restructuring.
BASF: Role of Oil & Gas Unit to Decline
CEO says focus of profitability drive to be on chems, agchems, but sees no reason to exit oil and gas activities. BASF, the world's largest chemicals maker, said its focus would be on boosting profitability at its chemicals and crop protection businesses as the contribution to earnings from oil and gas, hurt by low crude oil prices, diminishes further. The company, whose products include catalytic converters…
Maersk Reaches Key North Sea Tax Deal with Denmark
Shipping and oil company A. P. Moller-Maersk on Wednesday reached an agreement with the Danish state that means it will pay less tax on its North Sea oil and gas activities through 2025. The deal, which has been under negotiation for months, makes it viable to redevelop the Tyra field through which 90 percent of Denmark's gas production is processed, and it is seen as crucial for the Danish company that is seeking to spin off its energy assets via a listing or merger.
Semco Enters Rig Cooperation with Skipavika Terminal
Semco Maritime and Skipavika enter into strategic agreement on service preparedness for all rigs at the port facility Skipavika Terminal near Bergen. The agreement also comprises an intention to develop the submarine base Olavsvern near Tromsø as a rig service center. Semco Maritime and Skipavika have entered into a strategic agreement about a service preparedness for rigs located at the port facility Skipavika Terminal near Bergen.
GoM Operators Evacuating Ahead of Storm
Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. The Bureau of Safety and Environmental Enforcement (BSEE) said its Hurricane Response Team is activated and monitoring the operators’ activities, and will continue to work with offshore operators and other state and federal agencies until operations return to normal and the storm is no longer a threat to Gulf of Mexico oil and gas activities.
Cameroon Oil Output up Nearly 20% This Year
Cameroon's crude oil production rose 19.4 percent between January and April, compared with a year earlier, to 12.3 million barrels, the state oil company SNH said on Wednesday, without giving a reason for the higher production. The Central African country has been pumping oil since 1977, hitting a peak of 185,000 barrels per day (bpd) 10 years later before slipping. National Hydrocarbons Corporation (SNH) said in a statement that gas production…
BOEM's Public Meetings Rescheduled
The Bureau of Ocean Energy Management (BOEM) is holding meetings to seek public input on the Draft Programmatic Environmental Impact Statement that analyzes potential impacts of oil and gas activities that could result from lease sales scheduled in the 2017-2022 Five Year Program for Outer Continental Shelf (OCS) Oil and Gas Leasing. Public meetings provide an opportunity for people to learn more about the Five Year Program and the potential impacts of oil and gas leasing.
BOEM, BSEE Find No Significant Impact from OCS Well Stimulation
The Bureau of Ocean Energy Management (BOEM) and Bureau of Safety and Environmental Enforcement (BSEE) today published a joint environmental assessment on the use of well stimulation treatments in federal waters off California. BOEM and BSEE completed a comprehensive environmental analysis evaluating the potential impacts from the use of well stimulation treatments on the 23 oil and gas platforms currently in operation on the Pacific Outer Continental Shelf (OCS)…