Exclusives

Total, Petrobras, Brazil, Santos, Maxime Rabilloud, Iara, Lapa, offshore

The French oil major looks to strengthen its portfolio with the Iara and Lapa fields.

Australia, offshore, equipment, subsea, technology, Wood Group, Woodside, Shell, PTTEP, Inpex, JIP

The companies are part of a Wood Group-led joint industry project launched to eradicate the degradation of subsea equipment in shallow, warm waters offshore Australia.

Israel, Leviathan, gas, Mediterranean, offshore, Noble Energy, sanction, FID

The company and partners have agreed to spend $3.75 billion for the development, which is set to begin production in 2019. Noble's share is $1.5 billion.

Petrobras, presalt, deepwater, oil, Bbbl, offshore

With over half a dozen operating FPSO units and more coming, Petrobras’ presalt production has soared, putting the company at an advantage to develop presalt riches.

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.

Contracts

The subsea development, located offshore India, involves completion of 11 oil and gas wells that are either at an infield location or an extension of existing fields, including marginal pools which will be connected to the nearest host facility, in water depths up to 100 m (328 ft), JDR said Feb. 15.

As part of the agreement, GE will provide condition-based monitoring and maintenance services for pressure control equipment on seven of Transocean’s rigs over the next 10 to 12 years, according to the release. The agreement is a change from event and calendar-based maintenance to condition-based monitoring and maintenance.

The contract is the third fast-track jacket contract the company has won from Saudi Aramco in the last 18 months, Linh Austin, McDermott’s vice president, Middle East and Caspian, said in a Jan. 4 news release.

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.

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

Diamond Offshore, drilling, oil, Barclays, analyst

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

NADL said that, as previously agreed, it will form a joint asset holding company with Jurong to jointly own West Rigel if no employment is secured for it.

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.

Operations

The company reported a 46% drop in full-year core profit (EBITDA) to 189.5 million euros (US$200.8 million), hurt by pricing pressure and low activity levels in the energy market, Reuters reported.

Statoil plans to drill five to seven wells in the Barents Sea in 2017 and will continue its campaign in 2018. A final decision on the company's U.S. GoM plans will come within a few weeks.

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

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.

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.