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Two gas development projects offshore the U.K. are gaining momentum.
Statoil is looking to make a decision this year on developing the Kayak oil discovery it made last week in the Barents Sea offshore Norway.
Technology has been a key ingredient to helping the oil and gas industry navigate life in oil and gas fields post-downturn.
When it comes to longer cycle investments in the oil and gas industry, offshore developments come to mind along with their hefty price tags.
Technology can be a blessing and a curse. Just ask any engineer that spends chunks of the work day navigating in and out of software programs while tackling engineering, procurement, construction and installation (EPCI) jobs.
Italy’s Saipem is likely to get a subcontractor role in a new project to produce LNG in the Arctic by Russia’s Novatek, one of Novatek’s partners said.
Tullow Oil reported a deeper-than-expected operating loss for the first half as lower oil price expectations forced it to book hefty impairment charges, but the market welcomed news it had raised a cost-saving target by $150 million.
General Electric Co. on July 3 completed its buyout of Baker Hughes Inc., merging the company with its oil and gas equipment and services operations to create the world’s second-largest oilfield service provider by revenue.
Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.
The cost of decommissioning the U.K.’s offshore facilities has been tagged at $77.4 billion by the UK Oil & Gas Authority (OGA). Even when applying the shared industry goal of reducing costs by a minimum of 35%, this leaves a tally of $50.6 billion.
Business Briefs For July 27
Business Briefs For July 13
Business Briefs For June 22
Wood Group has appointed Dean Harwood as president of strategy and development for the Western region, a new position, according to a news release. He will handle strategy, M&A, business development, marketing and proposals.
Business Briefs For May 25
With the oil price relatively low, the whole industry still faces challenges. However, the surge of collaboration and optimization, in tandem with a general belief that an upturn is coming in 2018, gives the subsea sector some cause for cautious optimism, delegates were told at last week’s Subsea North East Conference & Exhibition in Newcastle, England.
Norway, like the rest of the offshore world, has spent the last two and a half years suffering through the worst downturn since it began producing oil more than 40 years ago. That appears to be over now.
Four of the biggest oil and gas operators in Australia have joined forces in an effort to combat an issue offshore Australia that is costing the industry hundreds of millions of dollars: replacing subsea equipment that fails prematurely.
The subsea sector will have to keep its overcoat on for a few more years, as the cold wind that has been blowing through the industry since the oil price crash of late 2014 is forecast to continue.
The future of the U.K. sector of the North Sea seems likely to be based on developing 350 marginal fields.
Floater Briefs For July 27
Floater Briefs For July 13
Floater Briefs For May 25
Floater Briefs For May 11
Floater Briefs For April 20
Partners in the Tullow-operated Jubilee Field offshore Ghana are moving forward with work associated with the field’s Kwame Nkrumah FPSO unit.
SBM Offshore has reached a milestone with its Fast4Ward program that aims to make deepwater projects more attractive with optimized design and standard specifications.
Delfin Midstream and Golar LNG Ltd. said they have signed an agreement to develop the Delfin LNG project off the coast of Cameron Parish, La., utilizing Golar’s floating LNG (FLNG) technology.
ITC Global has turned its attention to offshore Brazil following the installation of communications services to four FPSO vessels off the coast of West Africa.
Stavanger, Norway-based Ocean Installer has landed a subsea umbilicals, risers and flowlines project in the Al Jurf oil field offshore Libya, the company said on June 20.
Policy Briefs For July 27
Policy Briefs For July 13
A regulatory move by the U.S. Bureau of Safety and Environment Enforcement (BSEE) gives offshore drillers more time for development operations.
Brazil’s oil and gas regulator (ANP) recently released pre-tender protocol for the 14th licensing round. The tender for the upcoming bid, which is scheduled for Sept. 27 in Rio de Janeiro, represents another chapter of the new face of Brazil’s oil industry designed by the government in which energy policies must have a more business-oriented status.
Brazil’s presalt fields have the potential to make the country self-sufficient in gas production; however, energy policy changes are needed to reach the goal, according to a study released by the Federal University in Rio de Janeiro.
Exploration Briefs For Dec. 2
Development Briefs For Nov. 18
Exploration Briefs For Nov. 4
Development Briefs For Nov. 4
Work on the next generation of all-electric subsea production systems is being advanced, albeit not swiftly, as there is a three-way competition amongst big hardware companies.
Mexico’s oil regulator announced on Nov. 28 a final list of 17 oil companies representing a dozen countries that have prequalified to bid on the country’s first-ever deepwater oil auctions, set for Dec. 5.
Norway has enjoyed a boost to its flagging exploration scene over the last week, with the Barents Sea proving to be the hot spot.
India’s ONGC Ltd. is evaluating hydrocarbon prospects located beyond the continental shelf of Mumbai High in the Arabian Sea after the discovery of gas.
The Kashagan oil field has started commercial output, Kazakhstan’s energy minister said on Nov. 21, marking a milestone for a $55 billion project that is more than a decade behind its original production plan.
Challenges and opportunities are plentiful in the digital oil field.
In June Petrobras reached a record high oil and gas output of 2.81 MMboe/d, up 0.6% compared to the previous month.
Amid the disconcerting economic news of the past several years, a quiet revolution has been taking place. Pre-engineered, capital-efficient solutions are carving a niche in the industry product roster.
As the quest to find new sources of oil and gas takes operators farther and deeper offshore into harsher environments, so does the need for technologies capable of withstanding higher temperatures and pressures.
The oil industry’s top equipment and services suppliers are hawking vastly cheaper ways of designing and equipping subsea wells, aiming to slash the cost of offshore projects to compete with the faster-moving shale industry.