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With many traditional oil and gas contractors now diversifying into offshore renewables, the recent acquisition of Seaway Heavy Lifting will give buyer Subsea 7 a stronger foothold in this market, which it has targeted as a growing sector.
The downturn may have pushed oil and gas companies closer to technology as they move toward more cost-effective and operationally efficient subsea developments. But robotics could help lead to further improvements.
Exploration Briefs For Feb. 2
Like just about every other sector in the oil and gas industry, the lingering oversupply-driven downturn crushed activity and continued to nip away any demand left for equipment for the subsea sector last year.
The U.K.’s National Subsea Research Initiative (NSRI) said operations and maintenance (O&M) services—particularly inspection, repair and maintenance (IRM) activities—offer traditional oil and gas industry-orientated subsea players “the highest potential to diversify into offshore wind.”
Floater Briefs For April 20
Floater Briefs For April 6
Floater Briefs For March 23
Floater Briefs For March 9
Floater Briefs For Feb 16
Petronas marked an important milestone in the LNG industry in late March by shipping the first cargo from a floating liquefaction unit.
An updated forecast shows a resurgence of FPSO activity in the years ahead as falling project costs and improving market conditions boost optimism for brighter days ahead.
A report from U.S.-based Zion Market Research forecasts global FPSO market growth between 2015 and 2021 as oil and gas E&P expands in deepwater, ultradeepwater and offshore fields.
Watch out for the impact of floating LNG (FLNG) storage in 2017 and 2018, particularly during the seasonal “shoulder months,” Genscape advised.
Rising oil prices are boosting hopes that more FPSO units will join the workforce following years of lackluster activity caused mostly by spending cutbacks driven by the downturn.
But a quick turnaround is not expected, considering the long lead time needed for offshore infrastructure.
Norway will review whether to tighten offshore safety rules after “repeated failures” at Eni's Arctic Goliat Platform, including a power outage during the week of Aug. 22, a minister said.
A bill that would allow companies other than state-led Petrobras to run new oil and gas projects in Brazil’s prolific subsalt region advanced on July 7 when a committee of the lower house of Congress voted to recommend it in hopes of reviving stalled petroleum investment.
Classification specialist ABS has entered into a memorandum of understanding with a group of Korean companies to develop new offshore design standards.
Subsea UK has launched a new support service to help companies bring new talent into the subsea sector by making it easier to recruit apprentices.
Policy, Politics And Safety Briefs For Dec. 4
Development Briefs For Nov. 18
Exploration Briefs For Nov. 4
Development Briefs For Nov. 4
The 205/21a-7Z horizontal sidetrack well on the Lancaster Field offshore the U.K. has achieved a sustainable flow rate using an electrical submersible pump, according to Hurricane.
Development Briefs For Oct. 21
Statoil and its partners will make a decision before year-end 2016 to proceed with the expansion of the $3 billion to $3.3 billion Snorre Field in the Norwegian Sea.
Aker Solutions and MAN Diesel & Turbo have revealed plans to cut the size and weight of subsea compression systems by “at least 50%,” with the new generation system capable of bringing many medium- and small-sized gas fields into the realm of economic viability.
Finding new cost-saving, quicker subsea solutions for deepwater projects are part of the quest for most oil and gas companies.
India’s state-run ONGC Ltd. is preparing to launch an integrated development plan for gas fields in two adjacent shallow-water blocks—KG-OSN-2004/1 and GS-49-2—in the Bay of Bengal.
A deepwater wildcat is underway in Bulgaria’s Black Sea sector which could open up a whole new play, according to OMV’s exploration chief.
The concept of the digital oil field has been on the technology radar in earnest since the turn of the century but it remains a tantalizing vision, seemingly always just out of reach.
The Offshore Technology Conference (OTC), which takes place May 1-4 in Houston, has named 17 technologies that will receive the 2017 Spotlight on New Technology Award.
Eelume’s robotic sea snake, a new underwater intervention vehicle, is moving closer to becoming commercially deployed after taking a 150-m (492-ft) winter dive in a Norwegian fjord near Trondheim, proving its abilities to maneuver, record video and snap photos.
Hempel has released two new coatings that aim to increase the service life and reduce on-station maintenance requirements of offshore assets.
DOF Subsea, working with Sonardyne, 2G Robotics and Seatronics, has released a new underwater surveying technique in which ROV-mounted and mapping operations are conducted while the vehicle is in motion.