Deepwater ///

Exxon delays flagship upstream projects to protect its balance sheet

As recently as March, the Texas giant had pinned its future to huge capital spending on oil and natural gas at a time when peers were exploring ways to decarbonize. Exxon CEO Darren Woods’ plan was to lean on the company’s impeccable balance sheet to drill for gushers and still cover almost $15 billion in annual dividends.

Weatherford remotely installs liner hanger on Russian offshore platform during COVID-19 lockdown

Weatherford International successfully and remotely used a restricted crew to install a 16-inch liner hanger on an offshore platform in Sakhalin Island, Russia during the COVID-19 lockdown.

Maersk Drilling invests in new technology to facilitate carbon-neutral drilling

A full-scale deployment of the Carbon-Negative Energy concept will produce renewable fuel and power, and simultaneously remove greenhouse gases from the atmosphere. The net negative carbon emissions can be converted into carbon credits.

Talos President & CEO Tim Duncan approved as NOIA vice chairman

Following the vote by the NOIA Board of Directors, NOIA President Erik Milito said, “The offshore industry has a powerful story to tell, and Galen and Tim’s leadership will help us tell it. Not only does our industry deliver energy, jobs and growth in an environmentally-responsible manner, we tangibly raise the quality of life for society."

Lukoil acquires deepwater Senegal interest from Cairn Energy

The 2,212 sq. km blocks are located on the deepwater shelf of the Republic of Senegal, and include the Sangomar and FAN fields .According to the Lukoil's estimates, the recoverable hydrocarbon reserves of the Sangomar field total approximately 500 MMboe.

AFGlobal deploys diverless connection system offshore Malaysia

The idea behind the technology was to create a shallow water pipelay that did not require welding pipeline connections or the need for divers, along with the ability to reduce the cost and time on projects.

Aker Solutions, Kvaerner transform to seize renewable-energy opportunities

“At a time when renewables have developed from niche technologies to global industries, Aker’s ambitions exceed the announced spin-offs in Aker Solutions,” Aker Chief Executive Officer Oyvind Eriksen said in a statement. “We take an active role to position ourselves in a broader and rapidly growing renewable energy industry.”

Ocean Infinity completes AUV-based seismic acquisition offshore Guyana

The project involved acquiring high-resolution geophysical and geotechnical data through the simultaneous deployment of multiple Autonomous Underwater Vehicles (AUV), in water depths of between 70m and 2150m over an area of approximately 3,100 square km.

Westwood: FPS contract awards to rebound to $13bn annually from 2021-24

Westwood Global Energy Group, the specialist energy market research and consultancy, has released research estimating FPS contract awards will rebound to $13bn annually from 2021-24, underpinned by an anticipated average oil price of $60/bbl from 2022.

Airbone Oil & Gas composites earn ExxonMobil’s global qualification

Following a stringent and detailed assessment of Airborne Oil & Gas’ qualification test data and track record to date, the supermajor accepted the TCP jumper product for water injection purposes on its affiliates’ projects worldwide.

Exxon resumes drilling offshore Guyana amid travel bans and political drama

The company confirmed that the Stena Carron and Noble Tom Madden vessels returned to full operations last month. The rigs had been shut when the country of less than a million closed its borders after the pandemic hit South America.

Canadian offshore slowdown impacts R&D investment dollars

With the offshore energy industry now in crisis mode, and no sign of help from Ottawa, companies are putting many of their projects on hold indefinitely.

Mexico instructs Talos and Pemex to unite the Zama field across two blocks

Talos Energy announced that on July 7, 2020, the company received a notice from Mexico's Ministry of Energy instructing the partners of Block 7 and Pemex to unitize the Zama field. The Zama field extends from Block 7 into the neighboring block to the east, which is operated by Pemex

As the U.S. drilling decline continues, Canada's offshore industry puts Ottawa on the spot

World Oil editors discuss how the latest rig count numbers disappoint, a Canadian oil industry association gets tough, OPEC+ puts their foot down on cheaters, and a Marcellus shale recovery falls into question thanks to the Atlantic Coast pipeline.

World Oil editorial: Time for Trudeau regime to lend help to Newfoundland and Labrador’s offshore industry

One of the more exasperating, outrageous situations being played out in the global upstream industry is the Trudeau administration turning a deaf ear, so far, to repeated requests and pleas for federal officials to lend substantive help to Newfoundland and Labrador’s (NL) offshore oil and gas industry.

Total looks to South Africa for offshore frontier opportunities

Total and its partners are planning to drill a well in the Luiperd prospect in water depths of as much as 1.8 kilometers by September, Africa Energy Chief Executive Officer Garrett Soden said in a statement.

Eni taps Weatherford for four-year downhole safety valve program

Weatherford International has been awarded an exclusive four-year contract with Eni S.p.A. to provide a minimum of 30 Non-Umbilical Downhole Deployment Valves (NU-DDV) that will be deployed in Eni's critical wells, improving their operational safety and reservoir performance.

Norway to tackle $100 billion P&A liabilities with new oilfield tech

North Sea nations and oil companies face costs of more than $100 billion to shut down old wells in the depleted region. Researchers in Norway believe they can cut that figure dramatically.

Neptune Energy awards remote monitoring contract to Fugro

Neptune Energy announced the award of a subsea inspection contract to leading geo-data specialist, Fugro, which will employ state-of-the-art remote monitoring technology to survey subsea structures at the Cygnus gas field in the UK’s southern North Sea.

Oceaneering wins inspection services scope in Angola from CABGOC

Oceaneering International’s Asset Integrity group has secured a three-year contract with Cabinda Gulf Oil Company Limited (CABGOC), a Chevron subsidiary. Oceaneering will provide inspection services onshore Cabinda, Angola, and offshore Angola on Blocks 0 and 14. The contract is scheduled to begin in Q2 2020.