Offshore ///

OGUK welcomes job support plan, says green recovery focus must continue

The leading representative for the UK’s offshore oil and gas industry has initially welcomed the winter economy plans announced by the Chancellor, noting it will seek further information on the details of the proposals in the coming days.

CGG commences second phase of largest OBN multi-client survey in UK CNS

CGG announced completion of the first phase of its multi-year program to deliver the largest OBN multi-client survey ever acquired in the UK Central North Sea and immediate commencement of the second acquisition phase.

Newfoundland and Labrador premier announces new offshore exploration incentives

The Government of Newfoundland and Labrador announced the establishment of a new offshore exploration initiative to provide companies with the incentive to drill more wells in the best prospects.

Neptune Energy commences subsea construction on Seagull project

Neptune Energy and its joint venture partners BP and JAPEX announced the beginning of the subsea construction phase of the Seagull tie-back project.

Six-nation Mediterranean Gas Group forms, without Turkey, to “strengthen regional cooperation”

Greece, Italy, Egypt, Israel and two other countries will form a permanent organization to promote co-operation over natural gas in the Eastern Mediterranean. Turkey, which has raised tensions by exploring for the fuel in contested waters, is not as yet included.

Bidders line up for Exxon’s UK North Sea oil and gas assets

Exxon Mobil’s UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the U.S. oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.

Maersk Drilling targets 50% CO2 emissions reduction by 2030

Maersk Drilling has set an ambitious target of lowering the intensity of CO2 emissions from its drilling operations by 50% by 2030. The target is supported by Maersk Drilling’s strategic focus on efficiency gains, which also leads to reduced CO2 emissions.

U.S. looks to close liability loopholes for bankrupt offshore oil producers

The Interior Department is proposing rules to strengthen the issuance criteria after companies have filed for Chapter 11 and escaped financial obligations to cap their non-producing wells, said Walter Cruickshank, acting director of the department’s Bureau of Ocean Energy Management.

Oceaneering, Danos Win 2020 NOIA Safety in Seas Awards

The National Ocean Industries Association (NOIA) announced that Oceaneering and Danos are the winners of the 2020 NOIA Safety in Seas Awards competition. Oceaneering was selected for the 2020 NOIA Safety in Seas Safety Practice Award, and Danos is recognized for the 2020 NOIA Safety in Seas Culture of Safety Award.

Fugro awarded ONGC 3-year contract for integrated survey services fourth time in a row

Oil and Natural Gas Corporation Limited (ONGC) in India has awarded Fugro a 3-year contract to provide integrated survey services for the fourth consecutive time.

UK projects up to 20 billion barrels of oil remain to be found offshore

The OIl & Gas Authority believes that maximizing the economic recovery of the UK’s remaining oil and gas need not be in conflict with the energy transition, and that the industry has the skills, technology and capital to help unlock the solutions required to help the UK achieve net zero.

Are the oil industry's opportunities for post-coronavirus recovery dwindling in North America?

In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy.

BP enters offshore wind with $1.1 billion U.S. investment

BP will receive a 50% stake in the Empire Wind and Beacon Wind developments off New York and Massachusetts, respectively. Equinor will retain 50% in both, and continue to be the operator, the companies said in two separate statements on Thursday.

PESA says oilfield job losses exceed 100,000, but layoff rates are slowing

The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Petroleum Equipment & Services Association, shows total job losses due to pandemic-related demand destruction reached 103,420 in August. OFS employment is down more than 121,000 jobs since August 2019 and is at its lowest point since March 2017.

Husky sees an uncertain future for West White Rose and other offshore Canada operations

“Unfortunately, the delay caused by COVID-19 and continued market uncertainty leaves us no choice but to undertake a full review of the project and, by extension, our future operations in Atlantic Canada," said Husky CEO Rob Peabody.

Trump extends Florida’s offshore drilling ban

President Donald Trump endorsed an extended ban on offshore oil development on Florida’s western coast as he courts voters worried that drilling imperils the state’s beaches and tourism-based economy.

Hess strikes deepwater oil offshore Guyana

Hess Corporation announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent.

Equinor drilling new Martin Linge wells to resolve well barrier deficiencies

In four gas wells that were drilled at Martin Linge before Equinor took ownership in 2018, well barrier deficiencies that are considered to make them inappropriate for safe production have been identified.

Simulators help shape new universal drilling language to reduce human factors

The way drilling crews speak on rigs could soon be standardized across the globe to improve safety and maximize efficiencies thanks to ground-breaking research by the University of Oklahoma using Drilling Systems’ simulators.

Pemex expected to lower 2021 crude production targets in new budget plan

The Mexican government is finalizing the budget proposal for next year, to be handed to congress by Tuesday, trying to square plunging oil income, growing social spending demands and Lopez Obrador’s push for austerity.