Exclusives

As the oil price continues to climb from recent lows, there is a higher demand for funding. However, some smaller players face a challenging funding landscape, according to financial experts speaking at ONS2018.

The development, which includes two new bridge-linked platforms, has been designed to produce until 2050 with a peak production capacity of 120,000 barrels per day.

Paradigm, Emerson, E&P software, digital oil field, Pat Babka, oil and gas workflow, Roxar Software Solutions,  Emerson Automation Solutions

With the acquisition of Paradigm, which was completed in late 2017, Emerson believes it can meet the market’s growing demand for an independent, global provider of E&P software solutions.

Automation, robotics and drone technologies are helping to keep aging North Sea facilities profitable for longer.

subsea oil and gas, subsea technology, dual pipe separator, Seabed Separation

Norwegian subsea technology firms are pushing ahead with technologies to enable a new wave of seafloor field development.

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

Spain's Cepsa postponed what would have been the largest oil company listing in a decade on Oct. 15, the latest IPO to succumb to a global selloff in equity markets.

IPC will acquire BlackPearl for roughly C$622.5 million and combine its assets with IPC’s existing assets in Canada as well as in France, Malaysia and the Netherlands.

According to a letter obtained by Reuters, Chevron has agreed to transfer its 20% stake in an exploration license in the Arctic, called PL859, to Norway's DNO ASA.

Results of a seven-day flow test program for the Balcombe-2z horizontal well in the U.K.’s Weald Basin have led Angus Energy to believe the discovery is capable of producing at commercial rates.

Equinor is interested in buying Chevron's stake in Rosebank, an oil and gas field in the British part of the North Sea, two sources told Reuters.

Production

Aker BP’s oil and gas production fell 4.6% in third-quarter 2018 to 150,600 barrels of oil equivalent per day (boe/d) due to maintenance at two of its fields, the company said Oct. 5.

The commercial terms of the agreement, which is subject to customary conditions that include partner and authority approval, were not disclosed.

Malaysian oil and gas company Hibiscus Petroleum is aiming to double its oil output in the U.K. North Sea and in Malaysia to 20,000 barrels per day by 2021.

Saudi's Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (MMbbl/d) in 2020, 50% higher than current levels, the company's top official said on Sept. 24.

Shale gas developer Cuadrilla will start fracking at its Preston New Road site in northwest England in the next few weeks, it said on Sept. 19 as it announced government approval for a second well.

Subsea Engineering

Greece’s Energean Oil & Gas listed on the London Stock Exchange on March 16, raising $460 million to develop two Israeli offshore gas fields.

Subsea 7, subsea oil and gas, Jean Cahuzac

Subsea 7 CEO Jean Cahuzac expects the subsea market will see more awards coming its way in first-half 2018 for subsea umbilicals, risers and flowlines as well as conventional projects.

Britain plans to introduce tax changes to oil and gas companies operating in the North Sea, finance minister Philip Hammond said, in a bid to spur investment in the aging basin.

Upstream activity offshore Norway and the U.K. has seen a steady increase in the last couple of weeks, coinciding with a general rise in global crude prices.

Wärtsilä Corp. will supply the engines, exhaust cleaning systems and fuel gas handling systems for Atair, a new LNG-fueled research vessel under construction for the German government.

Technology

Hurricane specializes in recovering oil from fractures in hard and brittle rock known as fractured basement reservoirs, which some see as a risky way to obtain crude.

Britain has asked its climate change experts to advise on whether it should set a date to meet a net zero emissions target, the government said on Oct. 15.

Shale gas developer Cuadrilla Resources will start fracking for gas at its Preston New Road site in northwest England next week, the company said on Oct. 5.

Global energy bosses assembled in Moscow on Oct. 3 said the world needed Russian gas to keep the lights on, in a clear message to U.S. President Donald Trump who has warned he may impose sanctions on Russian gas export projects.

The new oil and gas company called Wintershall DEA will be headquartered in Kassel and Hamburg and will seek to list itself through an IPO, BASF said.