Exclusives

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.

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.

BHGE, Binu Mathew, artificial intelligence, oil and gas

Technologies must be domain specific with end-to-end workflows so they can be put to use, according to Binu Mathew, senior vice president and global head of digital products for ‎Baker Hughes, a GE company.

BP’s upstream chief emphasizes how a new age of collaboration within the supply chain could help the industry thrive amid the challenges of low oil prices.

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

Oil companies in Norway are raising their exploration spending more than expected, the head of the country’s industry regulator told Reuters on May 29.

It would mark the resumption of drilling in Portugal after a long hiatus, with opponents arguing the risks outweigh the chances of finding any significant quantities of oil.

North Sea oil and gas producer Chrysaor is embarking on a drilling campaign under a three-year partnership with oil services firm Baker Hughes using a Rowan Gorilla VII jack-up rig, Chrysaor said on April 27.

Frontera Resources Corp. on April 19 announced the successful completion of drilling operations at the Dino-2 well, the second of the three-well drilling campaign at the company’s Taribani complex on Block 12 in Georgia.

Italian oil major Eni has no plans to pull out of its joint venture with Russia's Rosneft despite escalating sanctions against Russia, CEO Claudio Descalzi says.

Production

Iran's oil exports hit 2.7 million barrels per day (MMbbl/d) in May, the oil ministry's news agency SHANA reported on June 2, a new record since the lifting of international sanctions on Tehran in 2016, and despite the threats of fresh U.S. sanctions.

The Netherlands will slow down production at smaller natural gas fields in coming years and halt the search for new fields on land as extraction from the vast Groningen Field is phased out, the Dutch government said May 30.

The Eurasia project focuses on exploring a geological area known as the Caspian Depression in western Kazakhstan by drilling ultra-deep wells of up to 15 km.

In a trading update, Premier reiterated it was on track to meet its full-year production guidance of 80,000 bbl/d to 85,000 bbl/d of oil equivalent.

Norwegian oil services firm Aker Solutions reported higher-than-expected first-quarter earnings on April 27 and upped its revenues guidance for the year as the oil industry continues its recovery.

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.

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.

Economic development agency Scottish Enterprise is making a push to keep Scotland at the top of the global subsea market, despite the challenges offered by competition from other regions around the world and the harsh realities of the severe industry downturn.

Technology

Industri Energi, which represents more than 4,000 drilling workers, said in a statement the deal would give a “solid increase” in pay, averting a strike among its members that could have hit exploration efforts later this year.

An injunction hearing will be held on May 31 at Manchester’s High Court District Registry. The injunction would replace and extend an existing injunction at the site and surrounding farmland.

The company also said in May 18 it was making good progress in 2018, delivering its strategy of focusing on its core, delivering organic growth and reducing capital intensity.

The British government said it would introduce measures to streamline and improve the regulatory process for shale gas planning applications so decisions are made more quickly.

The oil and gas company said the name change was a natural step after it decided last year to become a “broad energy” firm, investing up to 15% to 20% of annual capex in “new energy solutions” by 2030, mostly in offshore wind.