OE Daily: 2016 / May

 

Carnarvon boosts North West Shelf position

May 31, 2016

Australian operator Carnarvon Petroleum has acquired 100% of WA-523-P Australia’s North West Shelf (NWS). Carnarvon says the area offers it a great opportunity at a low cost, given today's oil price environment. In total, within about 40km around WA-523-P…

No impact found from California offshore fracking

May 27, 2016

Results from a comprehensive environmental analysis have found minimal environmental impacts from offshore fracking, off California. Image from BSEE. The study, conducted by the…

Maersk acquires newbuild jackup from Hercules

May 27, 2016

Maersk Drilling has agreed to acquire the newbuild harsh environment jackup rig Hercules Highlander from struggling US drilling contractor Hercules Offshore. Hercules was awarded a five-year contract by Maersk Oil for use of the rig on the Culzean high-pressure…

Third year of decline for drilling market

May 26, 2016

Bermuda listed Seadrill, and Norwegian drillers Odfjell and Sevan Drilling reported their Q1 results this morning.  Intense focus on cost cutting and efficiency have helped all three, as it had with the likes of Ensco and Transocean,…

BP uses EOR to extend Thunder Horse life

May 25, 2016

BP has commenced a water injection project at its Thunder Horse platform in the Gulf of Mexico that will extend the production life of one of its biggest fields in the area, and recover an additional 65 MMboe. Thunder Horse…

Indian offshore wind "open playing field"

May 24, 2016

While Europe has been leading the charge in offshore wind development, the US and other regions including India are starting to build activity.  In India, there are two main regions, the states of Gujarat and Tamil Nadu, on the west coast of India…

Petrobras platform fall kills one

May 23, 2016

A RIP Industrial Services worker died over the weekend, after falling 12m from a Petrobras platform, offshore Brazil. According to the Sindipetro-NF workers’ union, Victor Geraldo Brito, 29, fell from the Cherne-2 platform (PCH-2), from 12m high and did not survive the impact…

Newly integrated FPSO headed for Lula

May 23, 2016

The Cidade de Saquarema floating production and storage offloading (FPSO) unit is sailing to the Lula field offshore Brazil for its 20-year contract, following its recent conversion at the BRASA shipyard. Cidade de Saquarema departs from BRASA shipyard…

API's Milito to speak at Deepwater Intervention Forum

May 23, 2016

Erik Milito, director of upstream and industry operations, American Petroleum Institute (API), will serve as the first keynote speaker at the 12th Annual Deepwater Intervention Forum (DIF) in Galveston, Texas, on 10 August 2016. Milito…

Leviathan back on track?

May 23, 2016

Work on Israel’s giant deepwater Leviathan field could be back on track after a new agreement on the country’s oil and gas terms.  Noble Energy, which operates the field, had put forward its revised Leviathan development plan earlier this year…

A new CEO for Petrobras

May 20, 2016

Brazil's interim president, Michel Temer, has named a new CEO for the country's national oil company Petrobras.  Petrobras announced today that it was informed Thursday, 19 May, of the decision to appoint Pedro Parente, an engineer, to Petrobras' board and to the position of CEO…

Woodside mulls Myanmar gas development options, plans further drilling

May 20, 2016

Woodside is considering development options on its two discoveries offshore Myanmar, as well as a 4-7 well drilling campaign next year, the firm said this morning.  The plans, potentially involving tie-backs or even a standalone development…

FMC, Technip to merge

May 19, 2016

French engineering house Technip and US-based underwater technologies firm FMC Technologies are to combine, creating a new US$13 billion business, the firms announced this morning. The companies, which firmed a joint venture, Forsys Subsea…

Statoil launches chopper crash investigation

May 18, 2016

Statoil is joining a list of investigation teams surrounding the tragic Super Puma helicopter crash that killed 13 people last month by launching its own in-house analysis focused on safety. Image from CHC…

Petrobras gains double Campos extension

May 18, 2016

Brazil’s National Petroleum Agency (ANP) granted a 27-year extension to Petróleo Brasileiro (Petrobras) for two concession contracts in the Campos basin, offshore Brazil that will lead to the drilling of 10 new wells. Image from Petrobras…

Barents blocks offer multi-billion barrel resource potential

May 18, 2016

The first exploration wells on new Barents Sea acreage, which has been opened to the industry for the first time, could be in place as early as next year, targeting billion barrels of oil equivalent prospects. Three new licenses in areas…

Chevron to cut 800 Thai jobs

May 17, 2016

US supermajor Chevron will cut some 800 jobs in Thailand to keep in line with its plan to cut 4000 from the company this year, and its cost reduction efforts of US$500 million due to the downturn, according to news reports. Image from Chevron…

Sea Lion complex contains 500 MMbbl plus

May 17, 2016

An independent reserves report has estimated the Falklands Greater Sea Lion Complex operated by Premier Oil to contain more than half a billion, or more than 500 MMbbl, of 2C or contingent resources. When gas is added to the total, the estimate rises to 747 MMboe…

Brutus back online as Shell repairs Glider

May 16, 2016

Shell announced on 15 May that production from the Brutus field in the US Gulf of Mexico has resumed following a leak at the nearby Glider field on May 12, which shut-in all production to the associated tension leg platform.  While production…

Initial crash findings released

May 16, 2016

The Super Puma helicopter crash which killed 11 offshore staff and two helicopter pilots in Norway was sudden, catastrophic and developed in just seconds, according to a preliminary report by Norway's Accident Investigation Board, released today…

BP doubles stake in Culzean

May 16, 2016

Oil major BP has bought a 16% stake in the high-pressure, high-temperature (HPHT) Culzean development project in the North Sea, doubling its stake to 32%. BP has acquired the stake from JX Nippon. Maersk Oil North Sea operates the US$4…

Brazil names new energy minister

May 13, 2016

Brazil’s interim president Michel Temer has appointed Fernando Bezerra Filho as the country’s new mines and energy minister amid a political battle that suspended Brazilian president Dilma Rousseff from office yesterday (12 May). Image of Filho…

KrisEnergy nearly triples revenue, production

May 13, 2016

KrisEnergy nearly tripled its revenue in Q1 2016 and more than doubled its production when compared to Q1 2015, due to two new fields that started production in the Gulf of Thailand. Image from KrisEnergy…

Source of Shell leak identified

May 13, 2016

The source of a leak that spilled 2100 bbl (88,200 gallons) of crude oil into the US Gulf of Mexico around Shell's Glider field has been identified, the US Bureau of Safety and Environmental Enforcement announced on 13 May. On-site investigators…

Authorities restrict helicopter use following crash

May 12, 2016

Following the double-digit fatality involving a CHC-operated Norwegian Super Puma helicopter at the end of April, UK and Norwegian Civil Aviation Authorities have implemented restrictions on two helicopter types that will prevent operators from using it for commercial flights…

Eni ups Nooros production, off Egypt

May 11, 2016

Just 10 months after the discovery at the Nooros field offshore Egypt, Italian giant Eni has increased production at the field to some 65,000 boe/d. Image from Eni. The milestone…

Premier cuts 15% Catcher costs

May 11, 2016

UK independent operator Premier Oil says it has cut costs on its North Sea Catcher floating production project by 15% - and the project remains on schedule. Forecast gross capex to first oil is now anticipated to be about US$1.35 billion…

North Sea drilling outlook remains bleak, says Awilco

May 11, 2016

Drilling contractor Awilco Drilling posted zero revenues for Q1 this year and a net loss of US18.7 million, thanks to one rig being out of work and another undergoing work. While the firm has work for one of its two semisubmersible rigs…

Supermajors drop Arctic leases

May 10, 2016

Several supermajor oil and gas companies including Anglo-Dutch supermajor Shell, Italian giant Eni, and US supermajor ConocoPhillips have surrendered more than 2 million acres in the Chukchi Sea. The Polar Pioneer…

Winds of change offshore US?

May 10, 2016

American offshore wind has for too long been overshadowed by the long-delayed Cape Wind project, but the winds of change might finally be blowing.  Cape Wind, is a 130 turbine, 3.6MW offshore wind park planned for off Cape Cod, Massachusetts…

Kosmos makes significant Senegal find

May 09, 2016

Dallas, Texas-based Kosmos Energy has laid claim to more than 25 Tcf of gas in the Senegal-Mauritania fairway after making its latest gas discovery. Kosmos says the “significant” Teranga-1 deepwater exploration well, in the Cayar Offshore Profond block…

Nexen ends Ettrick, Blackbird production

May 06, 2016

Nexen Petroleum is to end production from the Ettrick field in the North Sea and remove the floating production facility FPSO Aoka Mizu from the location. Nexen, which is owned by China National Offshore Corporation, terminated a contract with FPSO provider Bluewater in March…

CHC files for Chapter 11 relief

May 05, 2016

The helicopter company whose aircraft crashed outside Bergen last week, killing 13, has filed for relief under the Chapter 11 bankruptcy code in the US. CHC Group's move follows its delisting from the New York stock exchange earlier this year…

Transocean scrapes a profit on low revenues

May 05, 2016

Drilling giant Transocean swung back into profit in Q1 2016, despite revenues having hemorrhaged compared to Q1 2015. Rig utilization was 51% in Q1, compared with 60% in the prior quarter, and 79% in the same period last year. Utilization is lowest in the ultra-deepwater floater segment…

Race on for tidal energy prize

May 04, 2016

'The race to deliver full scale commercial [tidal energy] projects is gaining momentum globally and the prize for the winner will be significant,' the CEO of the world's first stock-market listed tidal energy firm told the All Energy conference and exhibition in Glasgow this morning…

Hess farms into Suriname

May 04, 2016

US-based explorer Kosmos Energy has agreed to farm-out a one third stake in its Block 42 contract area offshore Suriname to Hess. In return, Hess will fully fund the cost of a 6500sq km 3D seismic survey, expected to start in Q3 this year…

Baker Hughes outlines future, post merger collapse

May 03, 2016

Baker Hughes says it expects to make some US$500 million annual savings by the end of 2016, as part of measures it is taking following the collapse of its proposed $34.6 billion merger with Halliburton. The initial phase of the cost reduction…

Anadarko hits off Ivory Coast

May 03, 2016

Houston-based Anadarko Petroleum has successfully drilled its first horizontal deepwater well offshore the Ivory Coast. The firm encountered 100ft net of true vertical thickness (TVT) pay on the Paon-5A well using Bolette Dolphin drillship…

Halliburton, Baker Hughes call off merger

May 02, 2016

Halliburton and Baker Hughes have terminated their proposed US$34.6 billion merger, both companies announced late Sunday, 1 May 2016. According to the terms of the merger proposal, Baker Hughes will receive $3.5 billion for the termination of the agreement…

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