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Hurricane Energy has already put in the hard yards for development options for its Halifax prospect, with engineering studies performed by Costain Upstream during an 18-month period to select the best concept.
With many traditional oil and gas contractors now diversifying into offshore renewables, the recent acquisition of Seaway Heavy Lifting will give buyer Subsea 7 a stronger foothold in this market, which it has targeted as a growing sector.
The downturn may have pushed oil and gas companies closer to technology as they move toward more cost-effective and operationally efficient subsea developments. But robotics could help lead to further improvements.
The future of the U.K. sector of the North Sea seems likely to be based on developing 350 marginal fields.
Exploration Briefs For Feb. 2
Aker Solutions agreed to buy oil services provider Reinertsen to build on its position as a maintenance and modifications supplier offshore Norway, the company said March 30.
The subsea area has been essential for Petrobras to achieve competitive gains over the past few years. The use of subsea equipment has helped to reduce presalt exploratory costs, contributing to Petrobras’ impressive output numbers.
ExxonMobil Corp. said March 9 it has reached an agreement to purchase a 25% indirect interest in the natural gas-rich Area 4 Block, offshore Mozambique, from Italian energy company Eni. ExxonMobil agreed to a cash price of about $2.8 billion.
British oilfield services company John Wood Group has agreed to buy Amec Foster Wheeler in a deal valuing its smaller rival at about 2.2 billion pounds (US$2.7 billion) and averting a planned 500 million pound (US$624 million) rights issue.
Cobalt International Energy Inc. continues getting knocked against the ropes by federal investigations, a $1.6 billion impairment, possible delisting from the New York Stock Exchange (NYSE) and its troublesome divestment of its Angola assets.
Business Briefs For April 6
Business Briefs For March 23
Business Briefs For March 9
Business Briefs For Feb 16
Business Briefs For Feb. 2
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.
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.
A jury of industry experts, R&D professionals and top executives selected TechInvent and Island Offshore/Centrica for ONS 2016 Innovation Awards.
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.
Floater Briefs For April 20
Floater Briefs For April 6
Floater Briefs For March 23
Floater Briefs For March 9
Floater Briefs For Feb 16
Petronas marked an important milestone in the LNG industry in late March by shipping the first cargo from a floating liquefaction unit.
An updated forecast shows a resurgence of FPSO activity in the years ahead as falling project costs and improving market conditions boost optimism for brighter days ahead.
Wärtsilä started 2017 with good news for its maritime activities in Brazil.
A report from U.S.-based Zion Market Research forecasts global FPSO market growth between 2015 and 2021 as oil and gas E&P expands in deepwater, ultradeepwater and offshore fields.
Watch out for the impact of floating LNG (FLNG) storage in 2017 and 2018, particularly during the seasonal “shoulder months,” Genscape advised.
Moves by Brazilian authorities to create new rules to ease existing local content policy have pleased oil companies that perform E&P activities in the country.
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.
Exploration Briefs For Dec. 2
Development Briefs For Nov. 18
Exploration Briefs For Nov. 4
Development Briefs For Nov. 4
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.
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.
The concept of the digital oil field has been on the technology radar in earnest since the turn of the century but it remains a tantalizing vision, seemingly always just out of reach.
The Offshore Technology Conference (OTC), which takes place May 1-4 in Houston, has named 17 technologies that will receive the 2017 Spotlight on New Technology Award.
Eelume’s robotic sea snake, a new underwater intervention vehicle, is moving closer to becoming commercially deployed after taking a 150-m (492-ft) winter dive in a Norwegian fjord near Trondheim, proving its abilities to maneuver, record video and snap photos.
For Viper Innovations, collaboration, diversification and innovation go hand-in-hand when it comes to maintaining the electrical integrity of equipment.
Hempel has released two new coatings that aim to increase the service life and reduce on-station maintenance requirements of offshore assets.