Exclusives

Schlumberger, Paal Kibsgaard, oil, drilling, technology, hydraulic fracturing, investment

The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’

It’s not deep. It’s not hostile. It’s just unexplored.

Azerbaijan, offshore, BP, oil

Known as the ‘Land of Fire,’ Azerbaijan has an oil and gas pedigree that is second to none, but with production declining, its offshore sector needs to heat up.

Tambar, BP, offshore, Norway, unmanned wellhead platform

A study provides Norway with insight on a development concept the region has not used as much as others across the world.

Ireland is proving an unlikely bright spot in the current oil and gas industry downturn.

Deepwater International

Norway’s Polarcus has been hired to conduct a 3-D marine seismic survey offshore Egypt.

Various subsea equipment will be delivered throughout 2015 and 2016.

GE Oil & Gas has invested more than $20.5 million across its subsea manufacturing facilities in Montrose, Scotland, in a move to enhance its business’s test and assembly and manufacturing capabilities.

Ceona has successfully installed a 570-mt multiple pipelay vertical lay system (VLS) and twin 400-mt cranes onto its next-generation flagship asset, the Ceona Amazon.

Kosmos Energy is taking a fresh look at a handful of new and existing exploration prospects in frontier waters offshore Ireland, according to partner Europa Oil & Gas.

Exploration

When transaction was first announced, Premier's shares were suspended as the deal was classified as a reverse takeover. Deal will be complete by the end of this month, Reuters reported. 

Shell has been operating in the west African country for more than 50 years. Its holdings include the Rabi Kounga and Gamba fields, Reuters reported.

"[This] places Hurricane in a position to drill, test and evaluate two new wells on Lancaster this year," Robert Trice, Hurricane's CEO, said in a statement, referring to the company's North Sea concession.

Sequa Petroleum cancelled on April 19 a deal announced in October to buy a 15% stake in the Gina Krog oil field from France's Total for 1.4 billion crowns (US$171.20 million).

Iranian news agency Shana said the two companies wanted to study four oil fields in western Iran. Iran is seeking foreign investment; international sanctions have been lifted, Reuters reported.

Production

Kazakhstan’s oil Kashagan project will likely be launched in June 2017, Wang Zhongcai, the first vice president of China National Petroleum Corp, told reporters April 21 at an energy conference in Moscow.

A damaged turret bearing means a scheduled maintenance shutdown will take another two weeks and production flows will take even more time to ramp-up, Tullow said.

The decision to build a pipeline will depend on the exploration results in the Barents Sea, a Gassco spokeswoman said later, repeating the previously stated position, Reuters reported.

EIA, U.K., oil, production, decline, increase, North Sea, offshore

Oil production grew in 2015 by 100,000 bbl/d, but tough market conditions could harm progress. Some say tax cuts unveiled in March may not be enough to help all companies at this point.

There is a wellhead platform in 50 m of water, tied back to the Total-operated Rio Cullen and Cañadon Alfa onshore treatment facilities by a 77-km offshore pipeline.

Subsea Engineering

Hansa Hydrocarbons has taken its first steps into the Danish offshore sector with the provisional award of two new licences in the country’s seventh licensing round.

Statoil has been awarded six licensing options in Ireland’s 2015 Atlantic Margin Licensing Round. Statoil will operate four of the licensing options and partner in two operated by Exxon Mobil.

The Aberdeen region has been given a £504 million (US$727 million) boost as it faces up to the oil price crisis. The funding will be paid over the next five to 10 years to improve infrastructure and attract jobs. 

Ending a saga worthy of a James Joyce novel, Shell has finally brought the Corrib Field offshore Ireland onstream, more than 15 years after project consents were first issued.  

Wintershall is looking to boost oil and gas production from its core areas including Russia, Norway and the UK while also expanding activities in Argentina, new company chairman Mario Mehren told the World Gas Conference in Paris.

Technology

Lewis is replacing long-serving CEO Samir Brikho who left unexpectedly in January. His main priority will be to reach the company's target to halve debt before June 2017 and to boost investor confidence.

BP reduced its capital spending three times in 2015 to $19 billion, slashed nearly 10% of its workforce of about 80,000 and sharply lowered costs, Reuters said.

As part of 10,300 job cuts it has already announced, 2,800 will come from integration of BG and 7,500 from Shell’s existing staff and direct contractor base, Reuters reported. 

In April, the company announced a two year contract with TAQA, extending its provision of engineering, construction and maintenance services to five UKCS offshore assets. 

Denmark currently has enough capacity to meet demand at home and in Sweden by importing gas from Germany, but will need to expand its grid in future, Energinet.dk said, Reuters reported.