OE Daily: 2015 / December

 

Storm continues, causes North Sea chaos

Dec 31, 2015

Oil firm BP has started returning staff to its Valhall complex after evacuating the facility when an adrift barge started drifting towards it as fierce weather continued to wreak havoc across the UK and Norway. ConocoPhillips had also downmanned its Eldfisk platform earlier today…

1 dead, 2 injured in Troll accident

Dec 31, 2015

One person has died and two more were injured after a breaking wave hit the COSL Innovator semisubmersible drilling rig around 5pm local time on 30 December, Statoil announced. The rig, which is under contract with Statoil for the Troll field in the North Sea…

Shell flows at Corrib off Ireland

Dec 30, 2015

Shell started first natural gas production from the Corrib field, off the northwest coast of Ireland. Corrib start up. Image from Shell. Corrib is located 83km off Ireland’s northwest coast in nearly 350m water depth…

Subsea 7 bags West Nile Delta gig

Dec 30, 2015

Subsea 7 inked a contract estimated to be between US$50 million to $150 million with Burullus Gas Co. for the platform extension and tie-in on the first phase of BP's West Nile Delta development of the Taurus and Libra fields, offshore Egypt…

Keppel wins Ghana FPSO conversion

Dec 29, 2015

Yinson has awarded Singapore’s Keppel Offshore & Marine conversion work on a floating production, storage and offloading (FPSO) vessel meant for Eni’s Offshore Cape Three Points Block (OCTP), offshore Ghana. The award is one of four the…

Petroceltic sheds stakes, mulls sale

Dec 28, 2015

Petroceltic has opted to exit stakes in Greece and Egypt, following an announcement by the company's board that it has initiated a formal strategtic review of its business and assets due to breaching debt repayment obligations. In the 23 December announcement…

Shell ends Polar Pioneer contract

Dec 28, 2015

Shell has terminated the contract for the Polar Pioneer, a harsh environment semisubmersible drilling rig, announced rig owner Transocean on 28 December. The rig was famously used this summer in Shell's Arctic campaign in the Chukchi Sea…

Premier: Solan first oil in January

Dec 23, 2015

Bad weather has delayed first oil from Premier Oil's Solan project, in the West of Shetland area, until January, the firm announced on 23 December. Premier Oil stated in its operations announcement that further progress has been made…

Total fined for 2012 Elgin leak

Dec 22, 2015

Total's UK subsidiary (Total E&P UK Ltd) has been fined a record £1.125 million (US$1.67 million) after it admitted failures that led to largest release of gas on record from the Elgin offshore platform in 2012. The fine was passed down by the Sheriff Court in Aberdeen…

Fugro wins Guyana survey

Dec 22, 2015

Fugro will conduct survey services at a deepwater field development offshore Guyana for ExxonMobil affiliate Esso Exploration and Production Guyana, the geophysical service company announced on 22 December. The contract provides for autonomous…

Lundin hits at Rolvsnes

Dec 22, 2015

Lundin Petroleum has discovered oil at the Rolvsnes exploration well 16/1-25 S in PL338C, in the central North Sea sector of the Norwegian Continental Shelf (NCS), the company confirmed on 22 December. Lundin said the well encountered a 30m gross oil column in porous granitic basement…

Total to drill Solaris wildcat

Dec 21, 2015

Total E&P Norge has been approved to drill a wildcat on its Solaris prospect in production licence 618, in the southern North Sea, bordering the UK shelf, announced the Norwegian Petroleum Directorate (NPD) on 21 December. The drilling…

Stockholders say yes to CAM-SLB merger

Dec 18, 2015

Cameron stockholders voted to approve the merger agreement between the equipment manufacturer and Schlumberger today (December 18) at a special meeting. In late August, oilfield services giant Schlumberger announced it would acquire Cameron in a deal worth US$14…

Video: Heidelberg ahead of schedule

Dec 17, 2015

In Anadarko’s interim Q4 update, the company revealed it is making significant progress at its Heidelberg development in the Gulf of Mexico, in addition to achieving a strong production performance for the period. Image from Anadarko…

Israel framework paves way for Leviathan

Dec 17, 2015

Noble Energy received the green light from the Israeli government on 17 December, to move forward with the development of Leviathan and the Tamar expansion, despite a last attempt from the Israeli Forum for the Protection of the Coastline that petitioned the High Court to not approve the plan…

UKCS Exploration: "Could do better"

Dec 17, 2015

Better success rates from North Sea exploration drilling could be achieved if historical well data was stored and shared better, according to the results of a review of well data published. The Oil and Gas Authority says a lack of quality geoscience and geophysics work…

Petrobras in further Espírito Santo find

Dec 16, 2015

Petrobras hit a new oil discovery in the Espírito Santo Basin offshore Brazil, according to partner Inpex. Map of the BM-ES-23 concession. From Inpex. The discovery contains oil…

Songa's latest Cat D delivered

Dec 16, 2015

Norway, Cyprus-based drilling contractor Songa Offshore has taken delivery of its third Cat D drilling rig from Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea. The Songa Encourage follows delivery of the Songa Equinox and the Songa Endurance earlier this year…

DOJ delays Halliburton, Baker Hughes merger

Dec 15, 2015

Halliburton and Baker Hughes’ efforts to complete their US$34.6 billion mega merger hit a new snag with the Antitrust Division of the US Department of Justice (DOJ). Image from Baker Hughes. The…

Schlumberger to raise $6 billion for merger

Dec 15, 2015

Houston-based Schlumberger will issue five tranches of senior notes worth US$6 billion to help fund its pending $14.8 billion mega merger with Cameron International. Image from Schlumberger. Last week on 10 December…

Aker suffers major MMO loss

Dec 15, 2015

Aker Solutions suffered a disappointing loss to competitors in Statoil awards that will see the oil services company lose up to US$69 million in revenue, undergo workforce reductions, and an organizational restructure of its maintenance, modifications…

Delek: Leviathan on track

Dec 14, 2015

The Delek Group and its Leviathan partners are setting the record straight by refuting recent media reports regarding Leviathan’s development field plan. Map of Leviathan. From Noble Energy. Media…

Hilcorp aims for Alaska manmade island

Dec 14, 2015

Houston-based Hilcorp filed its plan with the US Bureau of Ocean Energy Management (BOEM) to build a self-contained island for drilling operations in the Beaufort Sea, offshore Alaska. Conceptual 3D rendering of the proposed Liberty Island…

Shell, BG to shed 2800 jobs as merger clears

Dec 14, 2015

Shell has cleared the final regulatory approval for its US$70 billion acquisition of BG Group, after receiving 'unconditional merger clearance' from the Chinese Ministry of Commerce (MOFCOM). This approval from China is the final regulatory…

Dolphin files for Bankruptcy

Dec 14, 2015

Norway-based geoscience firm Dolphin Geophysical has filed for bankruptcy just days after warning it had struggled to restructure its debt and capital structure. The firm, whose shares halved last Thursday after it warned it could have to file for insolvency…

Marcelo Odebrecht resigns

Dec 11, 2015

Marcelo Odebrecht officially announced his resignation and is stepping down from several roles after spending six months in prison for charges of bribery and corruption, for his alleged role in state-run Petroleo Brasileiro SA (Petrobras) Lava Jato scandal…

Statoil, Repsol ink string of deals

Dec 11, 2015

Statoil and Repsol have agreed deals covering acreage in Norway, UK, US and Brazil.   Statoil is to farm down 15% in the Norwegian Gudrun field to Repsol, retaining operatorship and 36% interest. Pending Repsol partner approval, Statoil…

Next phase of Total’s Moho online

Dec 11, 2015

Total has brought on stream its ninth project since the start of this year, its Moho Phase 1b project, 75km off Pointe-Noire, Congo. The project, with 40,000 boe/d production capacity, sits in 750-1200m water depth and comprises 11 new…

ConocoPhillips slashes 2016 budget by 55%

Dec 10, 2015

ConocoPhillips is vastly reducing its 2016 capital budget by 55% to US$7.7 billion, compared to two years ago, that the Houston-based company says is due to the current environment, which remains challenging with low and volatile prices. Ekofisk area…

Chevron reduces 2016 spending by 24%

Dec 10, 2015

Chevron is planning a 24% reduction in its 2016 capital and exploratory investment program to US$26.6 billion, compared to 2015’s $35 billion. Chevron's Big Foot in the GoM. Image from Chevron…

Glen Lyon FPSO sets sail

Dec 10, 2015

BP has reached a major milestone with its Quad 204 redevelopment project 175km west of Shetland. The firm's new floating production, storage and offloading (FPSO) vessel, the Glen Lyon, has left Hyundai Heavy Industries' yard in South Korea and started sea trials…

Dolphin in insolvency warning

Dec 10, 2015

Norway-based geoscience firm Dolphin Group has said it may be forced into insolvency if it is not able to restructure its business. The firm, which owns Dolphin Geophysical, saw shares halve in trading this morning, following its announcement…

Analyst: Oil prices aren't low enough

Dec 09, 2015

It goes without saying that Art Berman with Labryrinth Consulting Services has a belief about oil prices that is likely not shared by many in the oil and gas industry: Berman believes the prices should be lower. “Prices have to fall further…

Noble in Q4 jump

Dec 09, 2015

Noble Energy revealed a 15,000 boe/d increase in its Q4 2015 sales volumes for both offshore and onshore fields to an estimated 405,000-415,000 boe/d. Map of Noble's Gulf of Mexico assets. Image from Noble…

Freeport-McMoRan down to one GoM rig

Dec 09, 2015

US-based Freeport-McMoRan (FCX) is cutting two vessels in the Gulf of Mexico in an effort to defer investments in several of the company’s long-term projects due to the oil and gas market slump. Image from FCX…

Ophir inks Fortuna LNG deal, reduces cost

Dec 09, 2015

Ophir Energy has cut its planned development cost and signed a heads of agreements for LNG offtake from its Fortuna FLNG project offshore Equatorial Guinea. Gross capital costs on the project - due to be Africa's first floating LNG project…

900 MMboe lost through low production efficiency

Dec 08, 2015

Low production efficiency in the UK North Sea has amounted to some 900 MMboe of lost production, a senior oil executive told a business breakfast in Aberdeen this morning.  Ray Riddoch, Nexen Petroleum’s UK managing director, said in 2014…

Six bodies recovered from Socar tragedy

Dec 08, 2015

Azerbaijani officials have recovered and identified six people from the Socar platform incident in the Caspian Sea that resulted with dozens missing at sea, and a fire that is still burning. Image of Socar's West Azeri platform…

Apache puts focus on drilling

Dec 08, 2015

Apache is to increase investment in drilling to 78% of its annual capital spending in 2016-2020, compared to 51% in 2012-2015, a business breakfast was told in Aberdeen this morning.  Investment in seismic will double, from 5% of its capital spending to 10%…

Woodside withdraws Oil Search offer

Dec 08, 2015

Woodside Petroleum informed Papua New Guinea-focused Oil Search that it has withdrawn its proposal to merge the businesses. Woodside CEO Peter Coleman. Image from Woodside. This follows the Australian explorer’s US$8…

Vantage to restructure OGIL, files Chapter 11

Dec 07, 2015

Houston-based Vantage Drilling’s subsidiary Offshore Group Investment Ltd. (OGIL) filed for bankruptcy last week, in a debt-for-equity deal that will result in a reduced debt of about US$1.45 billion. The Titanium Explorer…

CGG in US$379 million capital increase

Dec 07, 2015

French geoscience company CGG is proposing a US$378.9 million (€350 million) capital increase to finance its “Transformation Plan,” which the company first implemented in 2013. The Oceanic Vega…

Socar continues search for missing workers

Dec 07, 2015

A search for missing oil workers continues in the Caspian Sea following a fire offshore Azerbaijan that started last week, on 4 December. Socar's West Azeri plaform. Image from Socar's Facebook…

Anadarko, Eni in Mozambique LNG venture

Dec 03, 2015

Anadarko and Eni inked a unitization and unit operating agreement (UUOA) to develop 24 Tcf of natural gas reserves from two blocks offshore Mozambique. Image of Mozambique operations, from Anadarko…

Schlumberger set for Q4 job cuts, Cameron merger

Dec 02, 2015

Schlumberger has decided to “right size” its organization with another round of job cuts this quarter that will see the oil services giant incur an estimated restructuring charge of about US$350 million. Schorn…

BSEE's well control rule under fire

Dec 01, 2015

US Bureau of Safety and Environmental Enforcement Director Brian Salerno testified today (1 December) before a US congressional committee on Energy and Natural Resources defending a new well control rule, 30 CFR Part 250 released earlier this year…

Eni to drill off Mexico

Dec 01, 2015

Italian explorer Eni has announced it will begin an exploratory drilling campaign at its three fields in the Bay of Campeche offshore Mexico. Eni representatives were in Mexico City on 30 November to sign a new production sharing contract…

Anadarko hit with US$159.5 million Macondo fine

Dec 01, 2015

The Louisiana US District Court ruled for Anadarko Petroleum to pay a US$159.5 million penalty for its role in the 2010 Deepwater Horizon disaster that spilled 3.19 MMbbl into the Gulf of Mexico, and left 11 people dead. Transocean's…

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