Technology Europe 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.

Completion Europe

Schlumberger, Paal Kibsgaard, oil, drilling, technology, hydraulic fracturing, investment

The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’

Contracts Europe

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.

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.

Sparrows Group said Feb. 21 it has been re-awarded two five-year contracts with Abu Dhabi’s TAQA to deliver crane operations, maintenance, rigging loft, and fixed lifting inspection services to its U.K. Continental Shelf assets.

GC Rieber Shipping said Feb. 16 it has entered into a time charter agreement with a European offshore client for the CSV vessel Polar Queen for a fixed period of four months with options to extend by up to one month.

Statoil (NYSE: STO) and Accenture (NYSE: ACN) have signed a three-year master service agreement for Accenture to accelerate the delivery of Statoil’s global digitalization initiative.

Downhole Europe

GCDT fits fully into Prysmian’s expansion strategy in subsea umbilicals, risers and flowlines and complements its product range. The portfolio of protectors will be enhanced, the company added.

Advances in subsea processing systems are moving the technology toward the point where a ‘subsea factory’ on the seabed by 2020 is nearing reality.

Equipment Europe

Pipeline operator says there is no timeline yet for repair of the Forties system, now under force majeure.

Transocean Ltd. plans to retire six of its cold-stacked rigs in an environmentally responsible manner.

Subsea 7 S.A. has signed a letter of intent with Royal IHC in the Netherlands for the construction of a new reel-lay vessel and associated pipe lay equipment.

The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.

The world’s biggest oilfield service provider Schlumberger took a 20% stake via a private placement in the company managed by former Seadrill executives in March.

Operations Europe

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.

Wood Group, which maintained its full-year outlook, said it expected to deliver cost savings of above $50 million in 2018, and that it was confident of recognizing at least $170 million in synergies by the end of the third year after integration.

Total signed a deal with Tehran in July 2017 to develop phase 11 of Iran's South Pars Field with an initial investment of $1 billion.

Norway’s Aker BP, partly owned by oil major BP, beat quarterly earnings forecasts May 7, helped by record output and higher oil prices, and said it may drill more wells this year than previously planned.

Faroe Petroleum Plc has hired investment bank Rothschild to prepare for a potential takeover bid by Norwegian oil company DNO, industry and banking sources said on May 4.

People Europe

Helge Lund will succeed Carl-Henric Svanberg as chairman of BP, the company said April 26.

Morten Kelstrup will join Maersk Drilling as chief commercial & innovation officer to lead the newly-established Commercial and Innovation function, the company announced on April 18.

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.

Shell's head of unconventionals, Greg Guidry, who oversees the Anglo-Dutch company's shale production in North America and Argentina, will step down and be replaced by Gretchen.

Sophie Zurquiyah has been named CEO of Paris-based CGG Group, a geoscience company providing geological, geophysical and reservoir capabilities to the global oil and gas industry

Regulations Europe

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.

The Dutch government is set to present plans for drastically lower gas production at the vast Groningen field on March 29, a move to limit seismic risks in the region.

Norwegian employers and labor unions embarked on four weeks' of wage talks on March 12 to stave off widespread strikes that risk impacting output in western Europe's biggest crude producer.

Drilling rig company Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 26, buying more time to consider alternative plans.

Britain’s decision to leave the European Union could lead to higher energy prices and energy supply shortages if the exit is not managed properly, a report by an upper-house parliamentary committee report said on Jan. 29.