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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
For Viper Innovations, collaboration, diversification and innovation go hand-in-hand when it comes to maintaining the electrical integrity of equipment.
Statoil plans to drill about 30 exploration wells in 2017, up about 30% compared to 2016, on the back of better market conditions and improvements the company says it has made.
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.
A subsea and offshore contractor affiliate of Ezra Holdings Ltd., a struggling Singaporean oilfield services firm, filed for U.S. bankruptcy as it ran short of cash due to a lingering downturn in the oil and gas industry.
State-run Petrobras’ plan to divest more than $15 billion in assets is reshaping the energy scene in Brazil, creating opportunities for more players to join the pursuit of not only oil, but gas.
Margareth Øvrum, executive vice president of technology, projects and drilling for Statoil ASA, believes in setting “impossible targets” that require “radical changes.”
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.
Business Briefs For March 23
Business Briefs For March 9
Business Briefs For Feb 16
Business Briefs For Feb. 2
Subsea 7 S.A., through one of its subsidiaries, has made an offer to acquire K&S Baltic Offshore (Cyprus) Ltd.’s 50% shareholding in Seaway Heavy Lifting Holding Ltd.
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.
Norwegian Prime Minister Erna Solberg has launched the country’s 24th oil licensing round for new exploration areas, mostly off Northern Norway.
Statoil has brought a relatively small two-well subsea tieback project onstream four months earlier than scheduled at half of the development cost originally envisaged.
Floater Briefs For March 23
Floater Briefs For March 9
Floater Briefs For Feb 16
Floater Briefs For Feb. 2
Chevron canceled its $1.88 billion contract with Hyundai Heavy Industries in December for construction of an FPSO unit for use in the U.K. North Sea, a decision blamed on persistently low global oil prices.
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.
Rising oil prices are boosting hopes that more FPSO units will join the workforce following years of lackluster activity caused mostly by spending cutbacks driven by the downturn.
But a quick turnaround is not expected, considering the long lead time needed for offshore infrastructure.
SBM Offshore’s holiday season brightened with the award of an FPSO contract for ExxonMobil Corp.’s Liza development offshore Guyana, giving a glimmer of hope for the ailing FPSO market sector.
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.
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 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.
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
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.
Mexico’s oil regulator announced on Nov. 28 a final list of 17 oil companies representing a dozen countries that have prequalified to bid on the country’s first-ever deepwater oil auctions, set for Dec. 5.
Norway has enjoyed a boost to its flagging exploration scene over the last week, with the Barents Sea proving to be the hot spot.
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.
Hempel has released two new coatings that aim to increase the service life and reduce on-station maintenance requirements of offshore assets.
DOF Subsea, working with Sonardyne, 2G Robotics and Seatronics, has released a new underwater surveying technique in which ROV-mounted and mapping operations are conducted while the vehicle is in motion.
Tough times for the oil and gas industry have led offshore operators to subsea technology to help cut costs as many lean toward standardization and simplified yet innovative concepts.
Subsea technology firm Optime Subsea Services and Telemark Technologies, a Norwegian engineering company, teamed up to push out a modular well completions system for the offshore oil and gas industry.
The Subsea Services Alliance, a collaboration between Helix Energy Solutions Group Inc. and Schlumberger, have launched development of the first riserless open-water abandonment module (ROAM).