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A larger FPSO unit and subsea systems could be in store for the second phase of the ExxonMobil-operated Liza development offshore Guyana.
India’s three upstream companies have lined up separate plans to develop marginal/small discovered fields in three contract areas offshore in the Mumbai Basin in a cluster method by sharing existing subsea infrastructure of neighbors.
The company challenged existing practices, removed unnecessary materials and equipment and rationalized stocking and logistics, according to Harry Brekelmans, projects and technology director for Shell.
Novel approach saves time and reduces risk for offshore casing installations.
The new discoveries are also the latest bright spot for the North Sea after a number of large new fields started up in recent years, helping to reverse a long and gradual decline in output since the late 1990s.
The offshore oil and gas industry, even in times of low prices and abundant supply, is driven by the almost relentless search for new fields to replace those coming toward the end of their natural productive lives. Often this forces exploration in ever more challenging environments and places huge demands on the boundaries of technology.
Indonesia’s state-run upstream company PT Pertamina is looking to re-engage Total and INPEX Corp. in reviving oil and gas production from the aging fields and developing new fields in the hydrocarbons-rich Mahakam Block offshore Makassar Strait.
Subsea tiebacks are playing an integral role in the recent growth trend and keeping costs down.
The deal announced Dec. 18 fits Statoil’s strategy of bolstering its presence in Brazil as it seeks to add new barrels which are becoming more difficult to obtain closer to home on the Norwegian continental shelf.
Readying an E&P broadside at the Gulf of Mexico, Talos Energy LLC and Stone Energy Corp. said Nov. 21 they will merge in an all-stock transaction that the companies say represents an equity value of $1.9 billion.
Business Briefs For Jan. 25
Business Briefs For Jan. 11
Business Briefs For Dec. 21
Business Briefs For Dec. 7
Business Briefs For Nov. 16
A more realistic, safer and economically efficient industry was among the topics of discussion at the OTC Brasil 2017 Conference.
Standardization, common components and industrial processes have led to increased efficiency and lower costs across many sectors, but until recently the oil and gas industry has continued down the bespoke engineering route.
With the oil price relatively low, the whole industry still faces challenges. However, the surge of collaboration and optimization, in tandem with a general belief that an upturn is coming in 2018, gives the subsea sector some cause for cautious optimism, delegates were told at last week’s Subsea North East Conference & Exhibition in Newcastle, England.
Norway, like the rest of the offshore world, has spent the last two and a half years suffering through the worst downturn since it began producing oil more than 40 years ago. That appears to be over now.
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.
Floater Briefs For Jan. 25
Floater Briefs For Jan. 11
Floater Briefs For Dec. 21
Bermuda-based Golar LNG has declared that the shipping market recovery has begun.
Floater And Vessel Briefs For Nov. 16
Royal Dutch Shell’s final investment decision (FID) on the redevelopment of the Penguins Field in the U.K. North Sea authorizes the construction of an FPSO unit, the company’s first in the northern North Sea in almost 30 years.
The ship is scheduled for integration of its six topsides at Tarkwa Bay in Lagos, Nigeria. Failing to reach an agreement with the NPA would reduce Nigerian content in the project and erode confidence about its viability.
The TechnipFMC and JGC Corp. joint venture has selected Baker Hughes, a GE company, to provide rotating equipment for the power and gas refrigeration process of the Coral South floating LNG (FLNG) facility offshore Mozambique.
The last massive component of Australia’s $180 billion LNG construction boom arrived on Aug. 14, stepping up a race between Anglo-Dutch giant Shell and Japan’s Inpex to start chilling gas for export in 2018.
With the necessity of the development of ultradeepwater projects located in the presalt layer, many FPSO unit building companies eye Brazil as a good opportunity to ensure new contracts.
Nigeria has moved closer to turning an oil industry bill into law after a 17-year struggle to complete the legislation that aims to increase transparency and stimulate growth in the country’s oil industry.
The regulation, called the Production Safety Systems Rule, addresses safety and pollution prevention equipment, subsea safety devices and safety device testing for oil and gas production on the U.S. Outer Continental Shelf.
On the back of the U.K. government’s recent move to allow the transfer of tax history on assets sales, confidence is surging that the industry will experience growth in many areas, such as plugging and abandonment (P&A) work, thus spurring jobs growth and increased spending.
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.
A small gas field on the edge of the British North Sea could become a litmus test for U.S. policy toward Iran.
Exploration Briefs For Dec. 2
Development Briefs For Nov. 18
Exploration Briefs For Nov. 4
Development Briefs For Nov. 4
Noble Energy and partners are barreling toward first gas by year-end 2019 for the Leviathan development offshore Israel, having doled out more than 150 major contracts after the $3.75 billion project was sanctioned in 2017.
Work on the next generation of all-electric subsea production systems is being advanced, albeit not swiftly, as there is a three-way competition amongst big hardware companies.
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.
Though relatively new to the industry, fluid analysis and sampling-while-drilling techniques have quickly helped operators make more informed well construction decisions, eliminating risk and improving efficiency.
When the issue of subsea wells is broached all too often the top-hole construction is a neglected area. But if Norwegian-based Neodrill get its way that will soon change.
The use of AI to monitor subsea operations is growing.
TechnipFMC is aiming to take subsea oil and gas production to the next level by reducing the weight and size of equipment on the seafloor while also simplifying configuration for flowlines and installation.
Composite materials are providing a new opportunity for global oil and gas operators as commercial pressures and technologically challenging environments have combined to create something of a perfect storm.