Subsea Engineering News - Exclusives

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.”

Plans include a new floating production platform that will be moored about six miles southwest of the existing Mad Dog Platform.

Tough times for the oil and gas industry have led offshore operators to subsea technology to help cut costs as many lean toward standardization and simplified yet innovative concepts.

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.

Subsea Engineering News - Business

Derrick Booth, who died at home in California at the age of 89 on Oct. 25, was the original subsea watcher. 

John Wood Group Plc capped off the 2016 year bringing a mixed bag of offshore news in its pre-close trading update for the year, stating its financial performance was “in line with expectations.” 

BP has agreed to buy 10% of Eni’s Shorouk concession offshore Egypt, which includes the giant Zohr gas field, for $375 million, joining other oil majors in increasing bets on the growing gas market.

When it comes to breakeven prices for development projects targeting natural gas, the ultradeep water of the Mediterranean Sea and the deep U.S. Gulf of Mexico are hard to beat.

Want to make of a series of high-profile consolidations in Abu Dhabi this year? The Abu Dhabi National Oil Co. (ADNOC) is the latest entity to enact structural changes—all in an effort to drive down costs and increase efficiency. 

Subsea Engineering News - Business Briefs

Norwegian Energy Co. (Noreco) reports that its fully owned subsidiary Noreco Oil UK Ltd. has entered an agreement to transfer its 20% stake in the Huntington license offshore the U.K. with all rights and obligations to Premier Oil.

Business Briefs For Dec. 16

Business Briefs For Dec. 2

Business Briefs For Nov. 18

Business Briefs For Nov. 4

Subsea Engineering News - Conference Report

What is the future of the oil and gas segment in Brazil? That was the main question asked repeatedly during the Rio Oil & Gas 2016 conference in October. 

Petrobras and Statoil have signed a memorandum of understanding that aims to evaluate their joint participation in future tenders and upstream collaboration in producing fields in the Campos and Santos basins.

Statoil ASA reduced the development cost for the first phase of its giant Johan Sverdrup project offshore Norway by 21% to NOK 99 billion (US$12 billion), while raising the full field development’s planned production capacity by unveiling an additional processing platform.

Norwegian Prime Minister Erna Solberg has launched the country’s 24th oil licensing round for new exploration areas, mostly off Northern Norway.

Statoil has brought a relatively small two-well subsea tieback project onstream four months earlier than scheduled at half of the development cost originally envisaged.

Subsea Engineering News - Floater Briefs

Floater Briefs For Dec. 2

Vessel Briefs For Nov. 18

Vessel Briefs For Nov. 4

Floater Briefs For Nov. 4

Sea Trucks Group has won a contract to build a construction support vessel to service the FPSO Kwame Nkrumahe vessel offshore Ghana.

Subsea Engineering News - Floater News

In a joint announcement, NextDecade Global Solutions, a subsidiary of NextDecade LLC, and FLEX LNG revealed that the two companies have signed a heads of agreement (HoA) to create a full-value chain solution for customers looking to purchase LNG from NextDecade’s Rio Grande LNG export project in Brownsville, Texas.

Höegh LNG Holdings Ltd. recently announced that it has signed a letter of intent for one firm and three optional floating, storage and regasification units (FSRUs) at Samsung Heavy Industries (SHI) in South Korea. 

Consider the remote offshore oil or gas field with minimal or no infrastructure. What is the best choice? Easy. Most operators would go with an FPSO, which offers storage in the hull and direct off-loading to tankers.

Timsah’s new multipurpose supply vessel, built for hire, will be equipped with a Saab Seaeye Cougar XTi underwater vehicle as a key onboard resource package.

GustoMSC’s new Scylax drillship is primed to enter the mid- to deepwater market as a sophisticated, cost-efficient tool.

Subsea Engineering News - Policy

Norway will appoint a public commission to look into the safety of the country’s offshore oil and gas industry following a recent string of accidents, the government said on Nov. 29.

Mexico’s oil regulator on Oct. 3 gave oil companies an extra week to submit comments and questions about the country’s first-ever deepwater joint venture covering state oil company Pemex’s Trion Field.

A bill ending the requirement that Brazil’s state-controlled Petrobras must lead all new projects in the country’s Subsalt Polygon region should become law by year-end 2016, the president of oil industry association IBP said on Sept. 28.

Mexico’s Finance Ministry announced on Sept. 6 the minimum value of additional royalties for companies participating in a deepwater oil tender, one of the most highly anticipated auctions since the opening of the local oil industry.

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.

Subsea Engineering News - Project Briefs

Exploration Briefs For Dec. 2

Development Briefs

Development Briefs For Nov. 18

Development Briefs For Nov. 4

Exploration Briefs For Nov. 4

Subsea Engineering News - Project Updates

Eni has finalized plans to develop Mozambique’s Coral South offshore gas project, part of a larger scheme that will see Italy’s top energy company and partners spend an estimated $50 billion.

France’s Total and Azerbaijan’s state-owned player Socar have agreed to contractual and commercial terms for Phase 1 production from the Absheron gas and condensate field in the Caspian Sea.

Centrica has handed in a plan for development and operation (PDO) for the Oda, formerly Butch, Field offshore Norway to the Ministry of Petroleum and Energy.

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.

Subsea Engineering News - Technology

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.

Subsea technology firm Optime Subsea Services and Telemark Technologies, a Norwegian engineering company, teamed up to push out a modular well completions system for the offshore oil and gas industry.

The Subsea Services Alliance, a collaboration between Helix Energy Solutions Group Inc. and Schlumberger, have launched development of the first riserless open-water abandonment module (ROAM).

Having successfully completed testing of the world’s first subsea gas compression system on the Ormen Lange Pilot project offshore Norway, Anglo Dutch major Shell and its partners are now gearing up to kick start the process of simplifying the total system that is seen as the next step for the technology, GE Oil & Gas said.

The Norwegian Petroleum Directorate is facilitating a competition in hopes of strengthening its technological expertise and capacity.