Shelf Drilling Bags Gulf of Thailand Gig
Dubai-headquartered offshore drilling contractor Shelf Drilling has secured a contract for the Shelf Drilling Scepter jack-up rig with Chevron Thailand Exploration and Production for operations in the Gulf of Thailand.The contract for the 2008-built rig is expected to commence in Q1 2020 and run until Q2 2022 and includes a one-year option.David Mullen, Chief Executive Officer, Shelf Drilling, said: “We are pleased to continue our long-standing partnership with Chevron through this award for the Shelf Drilling Scepter. The high specification jack-up rig has been a significant enhancement to our fleet…
BP Dishes Greater Tortue Ahmeyim Contracts
Oil major BP has awarded subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment contracts to services providers McDermott International and Baker Hughes, a GE company (BHGE), for the Greater Tortue Ahmeyim natural gas project, located offshore Mauritania and Senegal.The Tortue/Ahmeyim gas field is located offshore on the border between Mauritania and Senegal, and contains an estimated resources of 15 trillion cubic feet of gas.Initial subsea infrastructure will connect the first four of 12 wells consolidated through production pipelines leading to a floating production, storage, and offloading (FPSO) vessel.
Yinson, First E&P in $902 Mln FPSO Deal
Malaysia’s floating production storage and offloading (FPSO) operator Yinson and Nigerian oil company First Exploration & Petroleum Development Company Ltd (First E&P) have executed a contract for an FPSO to be deployed offshore Nigeria.The contracts worth $901.79 million were entered into via its wholly-owned subsidiary Yinson Nepeta Production Ltd (YNPL) and indirect subsidiary Yinson Operations & Production West Africa Ltd (YOPWAL).The estimated aggregate value of the contract is based on the assumption that the extension options are fully exercised…
Petrobel Contracts Shelf Rig
UAE-headquartered offshore drilling contractor Shelf Drilling has received a contract award for one of its jack-up rigs with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez, offshore Egypt.According to a press release from the shallow water offshore drilling contractor, the Trident 16 jack-up drilling rig had been awarded a one-year contract.It said that the contract includes mutually agreeable options, and the planned start-up of operations is Q1 2019.The Trident 16 jack-up rig was built in 1982 by Mitsui Ocean Development & Engineering (MODEC) and its last upgrade was in 2012. The rig is of a Modec 300 C-38 design.Petrobel is a joint venture of Eni S.p.A.
New Managing Director at Magma Products
Oil and gas commissioning and start-up specialist Magma Products announced Tuesday it has appointed Philip Tweedy as managing director.Tweedy, previously commissioning manager at Magma, will be responsible for day-to-day operations at the company’s Aberdeen, Great Yarmouth and Bucharest offices.Previous managing director Paul Rushton will assume the role of chairman to focus on strategy, growth and business development with a number of industry projects due to come on stream in late 2019 and 2020.“The appointment of Phil as managing director ensures a smooth transition for the team, our clients and current projects,” Rushton said.
Senegal Awards LNG, Oil Advisory Job to Doris Engineering
French engineering services provider Doris Engineering has been awarded an advisor contract by the Senegalese ministry of petroleum and energies for the development of oil & gas projects offshore Senegal.This two-year mission consists in reviewing the optimization and the robustness of the field development performed on these projects to be in line with the Ministry expectations. It focuses on two projects: Grand Tortue Ahmeyim, operated by BP, and the SNE project, operated by Woodside.Grand Tortue Ahmeyim is located at the border between Senegal and Mauritania and lies in ultradeep-water.
Total Green-lights Ikike Oil Project in Nigeria
French oil group Total will approve plans to proceed with the Ikike project in Nigeria in the coming months, and also aims to expand its liquefied natural gas (LNG) project in the country, CEO Patrick Pouyanne said on Monday.Total is one of the strongest players in the African oil sector, holding more proven reserves on the continent than any of the other top global oil companies.The 60,000 barrels-per-day (bpd) Ikike project is one of several projects the group has earmarked in Nigeria for a final investment decision, including the 70,000 bpd deepwater Preowei project…
Aqualis Offshore Establishes Office in Australia
Marine and offshore engineering consultancy Aqualis Offshore has set up an office in Perth, Western Australia, to support oil and gas developments in the Australasia region.“We have supported important projects offshore Australia in recent years and believe it represents a market with good potential. There seems to be an increasing confidence in growth in offshore activity here, so we feel the time is right to set up a dedicated office in Australia,” says David Wells, CEO of Aqualis Offshore, which is part of Oslo-listed energy consultancy group Aqualis ASA.In 2017…
US Crude Inventory Levels Off
U.S. crude inventory has leveled off after declining three weeks in a row. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates U.S. crude inventory as of December 21 was the same as seven days earlier.The past four weeks represent a reversal of the large inventory growth between mid-September and end-November. But despite the growth reversal, U.S. crude inventory remains 7 percent above the five year average for this time of year.Monthly estimates by the International Energy Agency (IEA) also continue to indicate excess global oil inventory.
Ghana Exploration Licensing Round Attracts Global Majors
Sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country's first exploration licensing round, its energy ministry said.The interest is a major vote of confidence in Ghana, which is keen to unlock more resources after it began pumping from its flagship offshore Jubilee field in 2010.The companies that have submitted applications are Tullow Oil, Total, ENI, Cairn, Harmony Oil and Gas Corporation, ExxonMobil, CNOOC , Qatar Petroleum, BP, Vitol , Global Petroleum Group, Aker Energy…
Strategic Appointment for Carlton Resource Solutions
Carlton Resource Solutions has strengthened its senior management team with the addition of a highly experienced director to a key strategic role.With 22 years’ experience in oil and gas recruitment, Doug Robertson has joined the Aberdeen-based business as operations director with a remit to enhance the firm’s capabilities through his expertise both in the UK and internationally.Carlton, part of the Maxwell Drummond Group, supplies engineering, technical and commercial personnel to the energy industry, including oil majors, independent operators and engineering contractors.Most recently president of operations – Canada for a global recruitment business…
India's African Oil Imports Hit 3-year High
India's oil imports from Africa in October rose to their highest level since August 2015, after a fall in Brent's premium to Dubai swaps made African crude more attractive, tanker arrival data from industry sources showed.India's overall imports in October rose 14.1 percent from a year earlier to 4.7 million barrels per day (bpd) with shipments from Africa more than doubling to 874,000 bpd, according to the data.Indian oil imports typically rise from October due to higher fuel demand in the festival season and as industrial activity picks up after…
Kosmos Energy, Shell Form Alliance
Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore in Southern West Africa.Initially, the alliance will focus on Namibia, where Kosmos has completed the farm-in to Shell's acreage in PEL 39, and Sao Tome & Principe where it has entered into exclusive negotiations for Shell to take an interest in Kosmos’ acreage in blocks 5, 6, 11, and 12.As part of the alliance, the two companies will also jointly evaluate opportunities in adjacent geographies.
Gulf Marine Services Bags New Contract
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.
Offshore Drillers Eye Recovery by 2020
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, a top supplier of drilling vessels…
Ensco to Buy Rowan in $2.38 Bln Deal
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.
Total Sees Cash Flow, Output Boost from Deepwater Projects
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…
EXCEED Developments Reflect Bullish Growth Strategy
Aberdeen-headquartered well management and performance improvement specialist EXCEED Energy has underlined its continued global expansion with a number of significant contract wins, prompting a key appointment and a move into new premises.Recent contract wins totaling over £18 million will see EXCEED deliver full well management services offshore The Gambia for a southern hemisphere-based exploration company and a drilling campaign offshore Ghana for a Norwegian operator.Head of Well Management, Al Brockie commented, "Both awards further illustrate…
Now you see it, now you don't: oil surplus vanishes ahead of Iran deadline
An overhang of homeless crude in the Atlantic Basin has halved in recent weeks, suggesting oil traders are bracing for a further supply loss from Iran due to U.S. sanctions and a new rally in prices.Iran's oil exports are already dropping fast as refiners scurry to find alternatives ahead of a reimposition of U.S. sanctions in early November, which in turn has helped drain a glut of unsold oil.The millions of unsold barrels of crude that had pooled around northwest Europe, the Mediterranean and West Africa over July and August are rapidly draining.A…
China's Falling U.S. Crude Imports More to do with Money than Politics
One of the side effects of President Donald Trump's escalating trade dispute with China is that U.S. exports of crude oil to the world's biggest importer are now viewed through the prism of politics.However, this ignores that buyers and sellers of crude are generally more motivated by profit margins and getting the right grades of oil to maximise the productivity of their plants.While it's true they can't disregard politics, and this is especially the case for the state-controlled Chinese majors, it's worth looking at the economics of the U.S.-China crude trade as well.U.S.