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The Barents Sea has been on the margins of exploration offshore Norway, but the region is now fundamental to the future of the Norwegian Continental Shelf, analysts say.
Expanding the toolbox provides the best technologies for the job.
While demand for oil will peak in 2023, demand for gas will continue increasing through 2034 as the world becomes increasingly electrified, DNV GL said in a forecast of world energy supply and demand out to 2050.
Developers of the field, located in the North Falkland Basin, hope to sanction the first phase of the project by year-end 2018 as costs fall.
Nexans gives insight on the changing role of umbilicals and the importance of pipeline heating to subsea flow assurance.
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.
Business Briefs For April 5
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TechnipFMC has signed an agreement with the Island Offshore Group to acquire a 51% stake in Island Offshore’s wholly owned subsidiary, Island Offshore Subsea AS.
Business Briefs For Jan. 25
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 Sept. 20
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Almost all of the 55 planned FPSO units expected to begin operations worldwide by 2022 will be in Central and South American waters, according to a new report by GlobalData.
Golar LNG said on March 12 it had started production at its floating LNG (FLNG) platform in Cameroon, the world's second working example of the nascent technology and a milestone likely to boost its Fortuna project in Equatorial Guinea.
The decision would allow output from the Pemex and BHP Billiton project to be offloaded to tankers, instead of transporting it via pipelines to the U.S. An FPSO could be more expensive but offers greater flexibility in export destinations.
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.
Issued by BSEE’s Office of Offshore Regulatory Programs, the new directive requires the agency to conduct periodic review and assessment of permitting processes for consistency, timeliness and efficiency across the various districts and regions within the agency, BSEE said in a news release March 26.
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.
Exploration Briefs For Dec. 2
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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.
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.
Overcoming the challenges of wax deposits and hydrate formation have traditionally made longer tiebacks uneconomic, but cold flow technology from Subsea 7 may change that.
Espen Alegria Ulimoen, head of technical advisory, control and safety at ABB, gave Hart Energy insight into the company’s work in subsea automation and digitization.
Norwegian subsea technology firms are pushing ahead with technologies to enable a new wave of seafloor field development.
FlatFish is an AUV dedicated to the inspection of subsea structures and pipelines.
Laser scanning is one technique gathering momentum across the industry.