Exclusives

Suriname, Tullow Oil, exploration, oil, Guyana, South America, offshore

The London-based company is gearing up to drill the Araku prospect offshore Suriname and start seismic campaigns, including offshore Guyana updip of ExxonMobil’s Liza discovery.

Diamond Offshore, drilling, oil, Barclays, analyst

The sector has benefited from OPEC’s production cut, analysts say, but declining demand remains.

In a first-of-its-kind application, subsea LiDAR delivers the data needed to 3-D print an accurate physical model of a damaged subsea part.

seismic, BOEM, permit, Atlantic, geological, geophysical, oil, gas, API, NOIA

The move followed the federal government’s decision to remove the Mid-Atlantic and South Atlantic Planning Areas of the Atlantic Ocean from the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program.

Companies are demonstrating that talk of applying their offshore expertise and experience to real-world renewables is more than just hot air.

Contracts

Cameron, a Schlumberger (NYSE: SLB) company, has signed two 10-year pressure control equipment management service contracts on behalf of Transocean valued at more than $350 million, according to a news release.

Guyana, ExxonMobil, SBM Offshore, Liza, offshore, contract, FPSO

The news is encouraging for the FPSO sector, where activity has drastically slowed. Analyst says FPSO orders will increase in 2017.

Under the contracts, SBM Offshore will perform front end engineering and design for the FPSO vessel and, subject to a final investment decision on the project in 2017, will construct, install and operate the vessel.

Mozambique has about 85 trillion cubic feet of gas reserves--enough to supply Germany, Britain, France and Italy for nearly two decades, Reuters reported.

Athens tendered 20 offshore blocks in 2015 in the Ionian Sea and south of the island of Crete for deepsea oil and gas drilling, and unsealed the offers in February, Reuters reported.

Digital

Predictive analytics in real time offer opportunity to change course before incidents occur.

BP Norge enhances its existing experience in digital oilfield technology by creating two second-generation “fields of the future.”

Downhole

The National Academy of Engineering (NAE) pointed to the need for designing blowout preventers (BOPS) that operate “under all foreseeable conditions.”

Equipment

The near-term offshore drilling market is one of the most challenged upstream sectors, with its long-term recovery—while undoubted—to lag behind any broader upturn.

Benefits of AUV use continue to expand. AUVs are being used to survey and inspect pipelines and flowlines and to verify the integrity of subsea structures.

Allseas, Pioneering Spirit, single-lift, vessel, decommissioning, oil, gas, offshore

The term ‘game changer’ is sometimes thrown around too easily, but it is completely deserved in the case of the giant vessel Pioneering Spirit.

The PR platform jacket was constructed by the BOS Shelf, Star Gulf and Saipem consortium in Azerbaijan. 

Called the OCEAN-HE, the hull shape of the new semisubmersibles has been designed for low motion characteristics and optimum station keeping capabilities, the company said in a news release. The series includes the OCEAN850-HE and OCEAN1600-HE, the company’s largest to date.

Operations

Overall reserves discovered in Mozambique's Rovuma Basin in recent years amount to about 85 Tcf, with enough gas to supply Germany, the U.K., France and Italy for nearly two decades, Reuters reported.

The supermajor aims to be cheaper, faster and reliable with a bias toward subsea infrastructure, standard designs and supplier-led solutions.

Malaysian state-owned oil firm Petroliam Nasional Bhd said on Nov. 17 it achieved first gas this week for its first floating LNG facility in offshore Sarawak, east of the country.

CGG and the wider industry need to reinvent the way they work with customers, taking a more partnership-style approach, the CEO Jean-Georges Malcor said.

While many upstream companies have pulled back from conventional offshore exploration and development activity, Eni has stuck to what it knows best, according to the company’s chief exploration officer.

People

The report is due to be ready by Sept. 30 and will be published after this date, the firm in a statement. The Norwegian Accident Investigation Board is conducting its own investigation and published a preliminary report May 13.

Fire aboard P-48 FPSO vessel started at about 1 p.m. local time as platform was being shut down and has since been put out, according to workers' union, Reuters reported.

North Sea industry group Oil and Gas UK said lower oil price accelerated some field’s permanent shutdown; in 2015 21 stopped producing and 80 could follow by 2020, Reuters reported.

Hsu Chong Pin, most recently head of business development and investor relations at Marco Polo Marine, has 15 years’ experience in corporate finance, financial advisory, business development and investor relations. 

There are ongoing discussions and procedures regarding potential transactions related to the Orlando project, the Trent and Tyne licenses, the West Wick license and others.