Exclusives

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.

Vidar Gunnerud, Solution Seeker, production optimization, artificial intelligence in oil and gas

Solution Seeker CEO Vidar Gunnerud talks about the company’s technology and the importance of artificial intelligence to the oil and gas sector.

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

Endeavour Energy launched the sale of its North Sea oil and gas assets at an ambitious price target of $500 million, according to two industry sources and a document seen by Reuters.

Oil majors ExxonMobil (NYSE: XOM), Total (NYSE: TOT) and Repsol are among members of two consortia that have submitted bids to explore for oil and gas off Greece.

Oceaneering acquired Ecosse Subsea, a provider of offshore engineering, seabed preparation, route clearance and trenching services to the renewable energy and oil and gas industries.

Western Greece is an underexplored area and very little data exists on its hydrocarbon potential.

OMV is ramping up its geological survey work in Austria with a view to increasing its market share, which currently stands at about 10%, the company said Jan. 29.

Production

Dutch government seeks to limit damage from earthquakes.

Hunting Plc, the international energy services company, said March 26 it has signed a collaboration agreement with U.S.-based EOR company, Titan Oil Recovery Inc.

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

The MoU signed in London between the two companies was during the official visit of Saudi Crown Prince Mohammed bin Salman to Britain, and would include gas upstream and liquefaction projects.

Russian oil extraction stood at 10.95 million barrels per day (MMbpd) in February and has been steady for the past three months as a decline at small producers has been offset by a ramp-up in production by majors, Energy Ministry data showed on March 2.

Subsea Engineering

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.

After meeting in August, Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin hope to remove some barriers preventing the development of a number of joint projects, especially the planned Turkish Stream gas pipeline under the Black Sea. 

Technology

Seadrill aims to expand relations with Schlumberger and other service firms following approval of its multibillion-dollar debt restructuring plan, CEO Anton Dibowitz told Reuters.

Dorothy Thompson, who served as CEO of the Drax Group international power and energy trading company, has been appointed independent non-executive director and chair designate for Tullow Oil, according to a news release.

Statoil is focused mostly on future deepwater opportunities in Mexico but does not rule out others, CEO Eldar Saetre said in an interview late on April 12.

Shell said it was confident it would thrive through potential changes in the energy system to 2030 while growing new businesses to reduce costs and improve emissions.

Oslo-listed seismic data provider TGS reported first-quarter revenues far above forecasts as markets continue to improve, it said on April 10, sending its share price surging.