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OE Daily: 2015 / September

 

Cameroon GoFLNG gets final approval

Sep 30, 2015

Golar LNG’s Cameroon floating liquefied natural gas (FLNG) has a start date of 2Q 2017 offshore Africa, after receiving final approval by all parties of the Gas Convention. Image from Golar LNG…

ACTE15: Houston, we have a problem

Sep 30, 2015

It’s no secret that the current state of the oil and gas industry is one of doom and gloom. And before a solution can be found, the industry must first admit there is a problem. “I think what we’re seeing is really a confluence of two major factors…

Mexico's Round One, phase two "a success"

Sep 30, 2015

Nine bidders made up of individual companies and consortia bid in Mexico’s Round One, phase two today (30 September), in what Mexico's National Hydrocarbons Commission (CNH) is calling a success with three out of five winning bids in the shallow water areas of the Southeast basin…

Lundin hits more oil at Alta

Sep 30, 2015

Lundin Norway encountered oil at two appraisal wells at the Alta discovery in the Barents Sea that proved important for the eastern flank Alta, and will result in further exploration in the area.    Map of the appraisal wells…

EMGS cuts another vessel, staff

Sep 29, 2015

Electromagnetic Geoservices ASA (EMGS) is extending its cost reduction plans by removing another vessel from its fleet, and reducing staffing levels in a move that will reduce operation costs by up to US$35 million annually, and $70 million for 2015…

Polarled in place, well under budget

Sep 29, 2015

The last pipe in Statoil’s Polarled pipeline has been laid this week in the Norwegian Sea, with the project coming in at 32% under budget. The pipeline was laid by the world's largest pipelaying vessel: Solitaire from Allseas…

Petrobras hits oil at Carcará Noroeste

Sep 29, 2015

Brazil’s Petróleo Brasileiro (Petrobras) discovered high-quality light oil potential at the third well in the Carcará pre-salt discovery area offshore São Paulo. Carcará map. From Petrobras. The third well…

GoM linked to midstream merger

Sep 28, 2015

A midstream merger that will see Energy Transfer Equity (ETE) acquire The Williams Cos. (WMB) in a US$37.7 billion deal is linked to offshore operations in the US Gulf of Mexico. The Gulfstar spar…

Halliburton, Baker Hughes to sell more businesses

Sep 28, 2015

The pending Halliburton and Baker Hughes mega merger will result in additional divestures of businesses for the approval of the US$34.6 billion deal, which is also under a three-week delay with the Antitrust Division of the US Department of Justice (DOJ)…

Shell abandons Alaska exploration

Sep 28, 2015

Shell is ceasing further exploration offshore Alaska after the company's Burger J prospect failed to prove oil, resulting in a multi billion dollar write-down. The Transocean Polar Pioneer  “Shell…

Noble's Cheetah disappoints

Sep 25, 2015

Noble Energy will plug and abandon its Cheetah exploration well offshore Cameroon after finding both crude oil and natural gas shows in multiple non-commercial reservoir sands.  Noble said that results from the well are being integrated…

Johan Sverdrup costs drop by US$1 billion

Sep 25, 2015

Statoil is cutting costs by more than US$1 billion (NOK 9 billion) for the first phase of its giant Johan Sverdrup development in the North Sea, partner Det Norske said. Illustration of Johan Sverdrup…

Eni to spud Vernaccia in October

Sep 24, 2015

Italian explorer Eni is set to spud its deepwater Gulf of Mexico Vernaccia exploration well in early October, according to partner Louisiana-based Stone Energy. The Vernaccia prospect, in Mississippi Canyon Block 35, will target the Miocene interval in a four-way structure…

Transocean denies link to Petrobras scandal

Sep 24, 2015

Global rig provider Transocean is the latest to be named in the Petroleo Brasileiro SA (Petrobras) corruption scandal Lava Jato, after a Petrobras former executive testified to receiving payments from a Transocean representative. The Sedco Express…

Schlumberger axes Eurasia acquisition

Sep 24, 2015

Oil services giant Schlumberger is pulling the plug on its proposed US$1.7 billion acquisition of Russian drilling contractor Eurasia Drilling Co. (EDC) to focus on other merger and acquisition (M&A) opportunities.  The…

EIA: low prices lead to reduced investment

Sep 24, 2015

Sustained low oil prices could lead to a long-term drop in upstream oil and natural gas investment, according to a new report by the US Energy Information Administration. “Given the fall in oil prices that began in mid-2014 and the relationship between oil prices and upstream investment…

INPEX's Ichthys CPF launched

Sep 24, 2015

Japan's INPEX has launched the central processing facility (CPF) for its US$34 billion Ichthys LNG Project offshore Australia. The CPF, billed as the world's largest semisubmersible by INPEX, was launched from Samsung Heavy Industries' offshore floating dock in Geoje…

Exxon, COPL to return to Liberia

Sep 23, 2015

ExxonMobil and partner Canadian Overseas Petroleum Ltd. (COPL) are planning to return to the waters offshore Liberia as early as next year after the duo delayed drilling plans due to an Ebola virus outbreak in the region. Map of Block LB-13…

Trinity implements cost reduction program

Sep 23, 2015

Trinidad and Tobago-focused Trinity is undergoing a multi million dollar cost reduction program that will include a management shakeup. Image from Trinity. According to Trinity…

Total cuts spending into 2016

Sep 23, 2015

French oil major Total has scaled back its production target for 2017 after announcing further investment cuts and project delays. Total says it is executing its plan to reduce capital spending to US$23-24 billion in 2015, from the peak of $28 billion in 2013…

Technip, SHI enter design partnership

Sep 22, 2015

Technip and South Korea’s Samsung Heavy Industries (SHI) are teaming up to develop a joint design of a low motion semisubmersible production platform. Technip and SHI already work together under a consortium arrangement, the Technip Samsung Consortium…

Husky cancels Seadrill drilling contract

Sep 22, 2015

Husky Oil Operations Ltd. pulled the plug on its drilling contract with Seadrill for the West Mira vessel one week after Seadrill canceled the newbuild’s order with Hyundai Heavy Industries (HHI). West Mira illustration…

Kosmos drops Irish acreage

Sep 22, 2015

Independent explorer Kosmos Energy has decided to pull out of its three licenses in the Porcupine Basin, offshore Ireland.  According to partner, Ireland-based Europa Oil & Gas, Kosmos has withdrawn from the joint operating agreements…

Wood Group wins Peregrino maintenance

Sep 21, 2015

Wood Group has been chosen by Statoil to provide four-year operations and maintenance at the Peregrino field offshore Brazil. The contract covers two wellhead platforms (Alpha and Bravo) and modification services for both units and the Peregrino FPSO…

Record interest in Irish offshore

Sep 21, 2015

The largest number of applications in an Irish offshore licensing round have been submitted in the 2015 Atlantic Margin Licensing Round.  Some 43 applications for licensing options, from majors and independents, were submitted by the Friday 16 September deadline…

Petrobras reveals historic production levels

Sep 18, 2015

A hike in Petróleo Brasileiro’s (Petrobras) average production in oil and natural gas, in addition to pre-salt for the month of August set historic records for the Brazilian giant. Oil. Image from Petrobras…

Karoon's Kangaroo falls

Sep 18, 2015

Karoon Gas Australia is revising its previous estimates of the Kangaroo field in the Santos basin offshore Brazil that decreases its 2C resources by nearly 39%. The Australian company is also estimating its Echidna’s light oil gross contingent 2C resource volume to be of 75 MMbbl…

Shell, BG merger hit by Aussie delay

Sep 17, 2015

The US$70 billion Shell and BG Group merger is being delayed until November 2015 by the Australian Competition and Consumer Commission (ACCC) after a warning that the billion dollar takeover could increase Australian gas prices, plus limit domestic gas supplies…

World's first subsea compression online

Sep 17, 2015

At 300m below the surface of the Norwegian Sea, the world’s first subsea gas compression facility has come on stream, Statoil announced this morning.  The NOK 19 billion (US$2.34 billion) Åsgard subsea gas compression project, known as project Nemo to some internally…

Mexico’s Round One minimums released

Sep 16, 2015

Mexico’s Secretaría de Hacienda y Crédito Público (SHCP) released the minimum fiscal terms that must be met by companies in order to win development rights in the second phase of Round One, scheduled for the end of September. Image…

North Energy in extensive cuts, office closures

Sep 16, 2015

North Energy’s board is in the process of adopting additional, extensive reductions that may lead to a possible merger. The reduction program will see the company close some of its offices; reduce operating costs, and its workforce that is being blamed on the persistent…

Esso achieves first oil at Erha North

Sep 16, 2015

ExxonMobil subsidiary Esso E&P Nigeria started oil production earlier than planned at the Erha North Phase 2 deepwater subsea development project, offshore Nigeria. Esso North subsea structures…

ABB inks $90 million Johan Sverdrup power contract

Sep 16, 2015

Sweden’s ABB has won a US$90 million contract to supply a two-cable high-voltage system to power, from shore, for Statoil’s Johan Sverdrup field.  The move paves the way for the entire Johan Sverdrup field to be powered from shore, as well as other fields on Norway’s Utsira High…

MODEC inks Culzean FSO deal

Sep 16, 2015

Japan's MODEC has made its first entry into the North Sea thanks to a contract with Denmark's Maersk Oil. Maersk Oil's UK North Sea business has inked a contract with MODEC for the supply of a floating storage and offloading (FSO) vessel for the US$4…

Seadrill cancels West Mira newbuild

Sep 15, 2015

Seadrill is exercising its right to cancel the construction of the newbuild West Mira after Hyundai Heavy Industries failed to deliver the vessel on time. West Mira illustration. From Seadrill…

Premier Oil nears Sea Lion FEED contracts

Sep 15, 2015

Premier Oil is aiming to award front-end engineering and design (FEED) contracts for the North Falklands Sea Lion project in 4Q this year, partner Rockhopper Exploration says. Sea Lion is about 220km north of the Falkland Islands in 450m water depth…

BSEE: Crew to blame for 2013 blowout

Sep 14, 2015

A new report from the US Bureau of Safety and Environmental Enforcement (BSEE) blamed the crew working Walter Oil & Gas’ South Timbalier Block 220 Well A-3, 55mi off Louisiana, for a well control incident that caused a blowout and fire onboard…

Oil Search rejects Woodside offer

Sep 14, 2015

Papua New Guinea-based Oil Search has rejected Woodside’s US$8.1 billion all stock proposal the Australian company made last week. Woodside CEO Peter Coleman. Image from Woodside. Oil…

BOEM to offer 40 million acres in GoM lease sales

Sep 11, 2015

The US Bureau of Ocean Energy Management (BOEM) will offer 40 million acres for exploration in the proposed Gulf of Mexico Central planning area Lease Sale 241 and Eastern planning area Lease Sale 226 to take place in March 2016. Image…

Kværner bags second Johan Sverdrup gig

Sep 11, 2015

Statoil and the Johan Sverdrup partnership awarded Kværner Verdal a contract for the delivery of the steel jacket for the drilling platform, marking the execution of the letter of intent singed by the two companies for the delivery of the two jackets…

Brazil’s 13th round gains more approvals

Sep 11, 2015

Brazil’s National Petroleum, Natural Gas, and Biofuels agency (ANP) has approved registrations for a total of 37 companies for the country’s 13th bid round, of which 22 are from outside of Brazil. Image from ANP's Facebook…

OE15: Betting on Mozambique

Sep 10, 2015

In the race to first gas in East Africa, a clear frontrunner has emerged at the SPE Offshore Europe UKTI East African briefing yesterday, and that country is Mozambique, with huge finds and notable projects heating up. Image from Anadarko…

OE15: Supply and demand

Sep 10, 2015

When the oil price drops, people want to know how long the decline will last and when it will go back up. Manouchehr Takin, a London-based international oil and energy consultant, tried to make sense of the economic side of low oil prices at yesterday’s SPE Offshore Europe breakfast briefing…

OE15: Reasons for optimism in a down market

Sep 10, 2015

Proserv CEO David Lamont is keeping his head held high during these depressing market conditions. The executive says he remains optimistic about the North Sea, especially because of the downturn.  In fact, during SPE Offshore Europe, he described it as good for the region…

OE15: Don’t waste the crisis

Sep 09, 2015

The speakers at Wednesday's Oil & Gas UK economic report release highlighted the need for a major transformation to take place within the oil and gas industry. All noted that problems in the UKCS began long before the decline in oil prices…

43 applicants vie for APA 2015

Sep 09, 2015

Norway’s Ministry of Petroleum and Energy Ministry (NPD) received applications from 43 companies for it latest Awards in Predefined Areas (APA) 2015 Norwegian continental shelf licensing round. Image from Chevron…

OE15: An industry worth fighting for

Sep 08, 2015

BP executive Bernard Looney said in his lunchtime speech that there are plenty of reasons to remain optimistic about the UK oil and gas sector, despite recent job losses totaling 5500. “We’re a growth industry,” Looney said. “Not many industries can say that…

OE15: Expro inks US$25 million North Sea contracts

Sep 08, 2015

Expro has been awarded two contracts together worth US$25 million in the North Sea. In one contract, Wintershall has awarded Expro a five-year contract for work on its recently approved Maria development project, in the Haltenbanken area…

5500 jobs lost on UKCS, new OGA report

Sep 07, 2015

The continued low oil price has led to some 5500 job losses in the UK North Sea since late 2014, according to new figures released by the Oil and Gas Authority today.  The organization, a new independent regulatory body, set up earlier…

Shell targets deepwater Myanmar

Sep 07, 2015

Shell is planning to start 3D seismic acquisition offshore Myanmar following its return to becoming an operator in the country. The firm has issued a letter of award to Oslo-listed geoscience firm Polarcus for a 3D marine seismic project…

Green light for Wintershall's Maria

Sep 04, 2015

Norway's Ministry of Petroleum and Energy approved plans for Wintershall’s US$1.8 billion (NOK 15.3 billion) Maria development, offshore Norway. Maria development plan. Image from Wintershall. The Maria field…

$60/bbl not expected until 2018 - Statistics Norway

Sep 04, 2015

Norway's official statistics organisation, Statistics Norway, has predicted that oil prices are set to remain low and only gradually increase to around US$60 in 2018. The organization said yesterday that low spending will also result in a drop in investment of almost 33% from 2013 to 2018…

Noble: Israeli framework agreement imperative

Sep 03, 2015

US-based Noble Energy says it is imperative that the Israeli government follows through with and approves a framework agreement to develop Leviathan and Tamar, which was presented to the Knesset yesterday (2 September). Map of Israel…

Vantage vessel gets Petrobras axe

Sep 03, 2015

Amidst its international corruption investigation, Petrobras terminated its US$1.6 billion contract with Vantage Drilling for the use of the Titanium Explorer ultra deepwater drillship citing a breach in Vantage’s obligations under the contract…

C-NLOPB investigates White Rose leak

Sep 03, 2015

Husky Energy has reported a major hydrocarbon gas release from subsea equipment on its White Rose development.  According to the Canada-Newfoundland & Labrador Offshore Petroleum Board (C-NLOPB), the release happened on 31 August from…

Shell, BG merger gets EU clearance

Sep 02, 2015

Shell and BG Group’s US$70 billion merger received the unconditional merger clearance from the European Union (EU), completing two of the five preconditions for the mega merger, Shell announced today (2 September). Image from Shell…

Schlumberger acquires Novatek

Sep 02, 2015

Schlumberger announced its takeover of US-based Novatek Inc. and Novatek IP, LLC. that will provide a new platform to improve drilling performance to the growing oil services giant’s portfolio. Schlumberger's StingBlade…

Somalia eyes return to exploration

Sep 02, 2015

Somalia's Puntland Petroleum Minerals Agency (PPMA) awarded ION Geophysical a contract to acquire 8000km of seismic data covering the entire Somalia Puntland offshore margin. The move, by the semi-autonomous region, could help pave the way to a return to exploration offshore Somalia…

Aker to lay axe on 500 subsea jobs

Sep 01, 2015

Aker Solutions is set to cut 500 permanent positions in its Norwegian subsea business that the company is attributing to the continued slowdown of the market, adding to the nearly 200 job reductions the company announced earlier this year…

Sembcorp wins multi-platform Culzean contract

Sep 01, 2015

Singapore-based Sembcorp Marine has won the engineering, procurement and construction contract for Maersk Oil's US$4.5 billion Culzean development in the North Sea.  Under the $1 billion contract, the firm's subsidiary SMOE will build the development's central processing facility…

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