OE Daily: 2015 / August

 

Shell freezes Arctic operations

Aug 31, 2015

Shell disconnected the Noble Discoverer drillship from its anchors in the Chukchi Sea after weather temporarily put a halt to its Arctic operations over the weekend. The Noble Discoverer. From Shell Flickr…

Rosneft up in 2Q, down in 1H

Aug 31, 2015

Rosneft succumbed to a drop in revenue and net income for 1H 2015, however came out ahead in its 2Q 2015 results with an increase of as much as 150%. Image from Rosneft. Revenue for 1H came in at US$46…

Eni lays claim to super-giant gas field

Aug 31, 2015

Eni has laid claim to discovering the largest gas field in Egypt and the Mediterranean Sea and says the field could become one of the world’s largest natural gas finds.  The Italian operator says the deepwater Zohr field could hold up to 30 Tcf of lean gas in place (or 5…

HPHT Culzean gets green light

Aug 31, 2015

UK authorities have given the green light to one of the largest new field discoveries in the UK North Sea – Maersk Oil’s £3 billion (US$ 4.5 billion) Culzean development.  The project has been welcomed as a “clear signal the North Sea…

Norwegian researchers obtain remote Arctic seismic

Aug 28, 2015

Two Norwegian polar researchers have returned from a project to collect seismic data over an area of the Arctic usually inaccessible to seismic vessels.  The pair, Yngve Kristoffersen and Audun Tholfsen, deployed their ice drift technique…

BW Offshore revenues rise but expects prolonged downturn

Aug 28, 2015

Floating production vessel operator BW Offshore has posted a 3% rise in operating revenues but says, which outsourced floating solutions remain an attractive option, the low oil price environment will see a reduction in orders that is expected to be prolonged…

Seadrill sinks, delays newbuilds in 2Q

Aug 27, 2015

Seadrill is keeping with its cost management program in part by delaying newbuilds, but still experienced a 7.8% decrease in revenue in 2Q 2015. The West Vela. From Seadrill. Currently…

McDermott bags its largest Mid East gig

Aug 27, 2015

Houston-based McDermott received its largest single award in the history of its Middle East operations today (27 August) by Saudi Aramco for brownfield work off Saudi Arabia. Signing the LTA. Image from McDermott…

Total to sell UK pipelines, terminal in US$905 million deal

Aug 27, 2015

Total has agreed to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal in a US$905 million (£585 million) deal. Subject to regulatory approvals, the assets will be bought by North Sea Midstream Partners…

Maersk Oil could close Janice next year

Aug 26, 2015

Maersk Oil says it is planning to shut its Janice floating production unit (FPU) next year and change its offshore rotation system as it looks to reduce costs amid the falling oil price. About 200 onshore and offshore jobs could be lost as a result of the move…

Schlumberger to take Cameron for US$14.8 billion

Aug 26, 2015

Oil services giant Schlumberger (SLB) entered into a deal to acquire Cameron International in a US$14.8 billion stock and cash deal that will offer the industry’s first complete drilling and productions systems. Image from Schlumberger…

Shell finds hydrocarbons on Auriga

Aug 26, 2015

Shell has made a hydrocarbon discovery on the West-1 (Auriga) well on the northern Browse Basin offshore Australia.  Shell has been drilling the well, in Petroleum Permit Area AC/RL9, using the Stena Clyde semisubmersible drilling rig (pictured)…

22 more approved for Brazil’s 13th round

Aug 25, 2015

Brazil’s National Petroleum, Natural Gas, and Biofuels agency (ANP) expanded on its approval of the country’s 13th bid round, with the announcement of more than 22 of 39 applications from international oil and gas companies. Magda Chambriard…

OE15: Industry needs to adopt digitalization

Aug 25, 2015

With less than two weeks to go before SPE Offshore Europe 2015, we spoke with DNV GL Oil & Gas CEO Elizabeth Tørstad, who will be visiting the show, about technology trends and requirements in the offshore oil and gas sector. DNV…

Solstad to lay up vessels, reduce staff

Aug 25, 2015

Due to the weak market, Solstad Offshore will have up to 13 vessels laid up, in addition to reducing its workforce by approximately 300 positions, the Norwegian offshore service company announced in its 1H 2015 report. The Normand Pacific…

Statoil digs deeper in GoM

Aug 25, 2015

Statoil’s exploration and discovery efforts in the Gulf of Mexico are moving forward, as the Norwegian giant announced the spudding of the Yeti appraisal well earlier this month on 12 August. Transocean’s Discoverer Americas drillship…

Noble hits delays on Falklands Humpback

Aug 25, 2015

Noble Energy's Humpback exploration well in the south Falklands basin has hit operational issues with results likely to be delayed by about a month, according to partner Falkland Oil and Gas (FOGL).  The well, which spudded on 13 June 2015…

DSME fire kills two, injures seven

Aug 24, 2015

Two people have died after a vessel under construction at Daewoo Shipbuilding & Marine Engineering Co. (DSME) caught on fire today (24 August) in South Korea, according to news reports. The Geoje Fire Station said a 39-year-old worker…

ANP approves 12 for Brazil round

Aug 24, 2015

Brazil’s National Petroleum, Natural Gas, and Biofuels agency (ANP) has announced the first 12 companies pre-approved for the country’s upcoming 13th bid round to be held on 7 October. The pre-approvals went to familiar companies such as supermajor Shell and France’s GDF Suez…

Second Gazprom Prirazlomnoye well onstream

Aug 21, 2015

After nearly two years, Gazprom Neft Shelf has brought its second well into production at the Prirazlomnoye field in the Russian Arctic. Image of the Prirazlomnaya field. From Gazprom. Prirazlomnoye is located in the Pechora Sea…

Johan Sverdrup gets thumbs up

Aug 21, 2015

Statoil’s Johan Sverdrup has received the official green light for phase one of its plan for development and operation (PDO) by the Norwegian Ministry of Petroleum and Energy. Johan Sverdrup field center…

EMGS cuts fleet, workforce

Aug 20, 2015

Electromagnetic Geoservices (EMGS) announced a cost reduction program that will generate cuts in its fleet, workforce, and capital expenditures, which the company is blaming on challenging market conditions. The EM Leader…

Transocean inks extensions

Aug 20, 2015

Transocean was awarded approximately US$35 million for two different contract extensions that are about 11,000mi from each other. The Transocean Barents. From Transocean.  US…

Weak demand helps Premier reduce costs

Aug 20, 2015

Weak demand for services in the oil sector is helping operator Premier Oil to reduce costs on its Vette and Sea Lion projects, the firm said this morning.   While the now expected prolonged low oil prices could put pressure on future projects…

Pay day for Eni's Goliat nears

Aug 20, 2015

Italy's Eni is close to starting producing from Norway's first Arctic oil development, reports Reuters. Production from the Goliat field, estimated to hold about 178 MMboe, was originally expected to start in 4Q 2013, but the project has been beset with delays and cost overruns…

OneSubsea inks Shell Stones deal

Aug 19, 2015

UK supermajor Shell awarded OneSubsea a contract to supply subsea services for the Stones ultra deepwater development project in the Gulf of Mexico.  An artist's impression of the Stones FPSO. From SBM Offshore…

Luke warm response to GoM lease sale

Aug 19, 2015

The US Bureau of Ocean Energy Management (BOEM) announced that its Western Gulf of Mexico (GoM) lease sale 246 held today (19 August) attracted US$22.7 million in bids. The BOEM and industry advocates say the sale reflects current market conditions…

Alma/Galia first oil due "within weeks"

Aug 19, 2015

North Sea independent EnQuest expects to reach first oil on its Alma/Galia development within a few weeks, the firm announced this morning.  The development, a subsea project tied back to the EnQuest Producer floating production, storage and offloading (FPSO) vessel…

DONG: Realities bite, Hejre still delayed

Aug 19, 2015

The Danish North Sea high-pressure, high-temperature Hejre oil field project continues to be challenged by delays from its supplier consortium, according to operator DONG Energy. Henrik Poulsen, the firm's CEO and President, said DONG continues to press for first oil in 2017…

Senegal green-lights Cairn campaign

Aug 18, 2015

Senegal’s government has approved UK explorer Cairn Energy’s latest plans to carry out a 3D seismic survey and a multi-well exploration program off its shores, starting this year.  The minimum three-well campaign is targeting more than…

Wood Group revenues slide 20%

Aug 18, 2015

Engineering firm Wood Group has since its revenues slide 20% to US$3 billion as it suffers from the reduction in activity in the oil and gas sector caused by operators tightening their belts amid low oil prices. The firm, which has reduced its headcount 13% since December…

Shell approved to drill deeper in Arctic

Aug 17, 2015

The US Bureau of Safety and Environmental Enforcement (BSEE) has given Shell final approval to drill into deeper into hydrocarbon-bearing zones at its Burger J prospect in the Chukchi Sea, off Alaska, in the US Arctic. “After extensive review and under a robust array of safety requirements…

Wassana achieves first oil

Aug 17, 2015

First oil has commenced from the Wassana oil field in the G10/48 concession in the Gulf of Thailand, operator KrisEnergy announced. Wassana is expected to achieve peak production of approximately 10,000 bo/d by year’s end. KrisEnergy…

Iran eyes 5.7 MMb/d output

Aug 17, 2015

Iran is preparing to introduce 45 new oil projects to potential investors as it looks to attract investment into the country post-sanctions.  Iran finally reached an historic agreement with the P5+1 countries late last month, over Iran's nuclear activities…

Det norske ramps up on Alvheim

Aug 14, 2015

Det norske is ramping up activity and production on its Alvheim floating production, storage and offloading (FPSO) development in the Norwegian sector of the North Sea.  The FPSO (pictured), which produces Alvheim field (comprising the Kneler…

Israeli government approves Leviathan

Aug 13, 2015

The Israeli government entered into an agreement with the consortia of Noble Energy and the Delek Group to move forward with development plans for the Leviathan field in addition to Karish, Tanin and the further development of Tamar. Prime…

Hercules files Chapter 11

Aug 13, 2015

Houston-based Hercules Offshore has filed for Chapter 11 bankruptcy protection with a pre-packaged deal that will send the company into a reorganization and financial restructuring. Image from Hercules…

Johan Sverdrup pre-drilling template installed

Aug 13, 2015

Norwegian oil firm Statoil has marked a milestone on its giant Johan Sverdrup development offshore Norway - the installation of the project's 280-tonne pre-drilling template. Heerema Marine Contractors’ crane vessel Thialf completed the installation of the 32m-long…

Jubilee back to full production

Aug 12, 2015

Production has restarted on the Kwane Nkrumah FPSO (pictured) on Tullow Oil's giant Jubilee field offshore Ghana ahead of expectations.  The FPSO had suffered issues with its gas compressor late last month, resulting in a gas export outage from 3 July…

Mariner jacket moving on to North Sea

Aug 11, 2015

Statoil’s largest steel jacket in its history is on its two-week, 1835 nm journey to the North Sea after setting sail from the Spanish Dragados yard on 10 August. Mariner steel jacket sails away…

Petition called to inspect California offshore pipelines

Aug 10, 2015

The Center for Biological Diversity formally and legally petitioned the US federal government to inspect all of California’s offshore pipelines for corrosion and other damages. Image from APPEA…

Oceaneering acquires Viper Subsea stake

Aug 10, 2015

Houston-based Oceaneering International is diving further into the subsea sector with the acquisition of a minority interest in the UK’s Viper Subsea Technology. Image from Oceaneering. The deal…

Russian field added to US sanctions list

Aug 10, 2015

A Russian offshore gas and condensate field in the Sea of Okhotsk has been added to a US-sanctions list prompted by Russia's actions in Ukraine. The Yuzhno-Kirinskoye field, 35km northeast of Sakhalin Island and 6km southeast of the Kirinskoye field…

Fugro to cut more jobs by year-end

Aug 07, 2015

In 2H 2015, Fugro’s revenue increased by 4.3%, however, the Netherlands-based company will cut an additional 200 jobs from its workforce by the end of the year. Image from Fugro. Total revenue for 2H 2015 came in at about US$1…

Chevron's Rosebank re-emerges

Aug 07, 2015

Chevron's multi-billion dollar deepwater west of Shetland Rosebank development appears to be edging closer back to fruition after a contract was awarded for the floating production, storage and offloading (FPSO) vessel turret.  The Rosebank project was on track until 2013…

Shell, Esso sell Anasuria Cluster stake

Aug 06, 2015

Shell along with partner Esso Exploration agreed to sell their entire stakes (50-50) in the Anasuria Cluster in the UK Central North Sea to a Malaysian joint venture consisting of Ping Petroleum and Hibiscus Petroleum. News reports put the sale price at US$105 million…

Transocean sails ahead in 2Q

Aug 06, 2015

Houston-based Transocean is one of the few major companies in the oil and gas industry to have a positive 2Q 2015, which was due to multiple factors including Macondo-related settlement agreements. Image from Transocean…

Egypt awards 3 offshore blocks

Aug 06, 2015

Egypt has announced the results of its delayed 2014 exploration bid round. The round sought to find companies to explore 10 areas in the Gulf of Suez, the Eastern Desert, and east and west of the Nile. Six of those area offshore in the south Gulf of Suez…

BP investing US$1bn in ETAP

Aug 05, 2015

BP has started a US$1 billion in its Eastern Trough Area Project (ETAP) in the North Sea as part of a platform renewal life extension project. The investment will see the facilities (pictured), which produce oil and gas from nine different reservoirs…

Big Foot production delayed until 2018

Aug 04, 2015

US-based Chevron isn’t expecting first production to come from its Big Foot platform in the Gulf of Mexico until 2018, a delay of about two and a half years that will result in reducing production estimates by up to 22,000 b/d net. The…

Origin in US$1 billion Contact deal

Aug 04, 2015

Origin Energy is entering a deal to sell 53% stake of its New Zealand subsidiary Contact Energy for approximately US$3.06 ($4.65 NZD) per share in an attempt to reduce the company’s debt and costs. Image of BassGas…

North Sea production rises for first time in 15 years

Aug 04, 2015

North Sea production could finally reverse its 15-year downward trend this year as new fields come onstream and production efficiency measures take hold.  According to the Department of Energy and Climate Change provisional 2015 production figures…

Halliburton, Baker Hughes merger under investigation

Aug 03, 2015

The US Department of Justice (DOJ) and the European Commission are digging deeper into Halliburton’s US$34 billion proposed acquisition of Baker Hughes by requesting additional information in discrete areas. Image from Baker Hughes…

Shell begins Arctic drilling

Aug 03, 2015

The Transocean Polar Pioneer semisubmersible officially began Shell’s US$1 billion Arctic drilling program in the Chukchi Sea on 30 July. The Polar Pioneer. From Transocean. Drilling operations began at Shell’s Burger J prospect…

Archer chops 700 from workforce

Aug 03, 2015

UK-based drilling specialist Archer reported a 22.5% drop in 2Q 2015 that will lead to cutting 700 jobs in its global workforce. Image from Archer.  Revenue for 2Q was US$388…

Total, Eni, Exxon bet on Mozambique

Aug 03, 2015

Three majors are vying for the same block offshore Mozambique in Mozambique's fifth licensing round, according to the round application details released by the country's National Petroleum Institute (INP) today.  It reveals that ExxonMobil…

Petrobras starts Iracema Norte production

Aug 03, 2015

Petrobras has begun production at the Iracema Norte development, in the Lula field of the pre-salt Santos basin, just less than 30 days after the FPSO Cidade de Itaguaí arrived at the field, the Brazilian national confirmed on 31 July. Cidade de Itaguaí…

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