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Submarine cable market activity is set to grow and make the North Sea—and other regions—an even busier place in which to operate in years to come.
Greece’s Energean Oil & Gas listed on the London Stock Exchange on March 16, raising $460 million to develop two Israeli offshore gas fields.
Name switch for Norwegian energy giant reflects move toward renewable energy.
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.
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.
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.
Decommissioning of offshore units in Brazil has been increasingly gaining importance within the country’s offshore industry over the past few years.
As market conditions improve, subsea players are seeing the light at the end of the tunnel and eyeing additional areas for potential growth.