Offshore ///

Subsea 7 bringing experienced engineers to oil and gas

Subsea 7 is continuing its Engineering Conversion Program, based in Aberdeen, to help experienced engineers from civil engineering and military roles to transfer skills and build new careers in the subsea oil and gas industry.

Equinor and partners log Barents Sea discovery

Equinor and partners OMV and Petoro have made an oil discovery in the Sputnik exploration well in the Barents Sea. Recoverable resources are preliminarily estimated at 20-65 MMboe.

Hibernia production halted again following spill

“The nature and frequency of these incidents in our offshore area are obviously concerning,” said Scott Tessier, CEO of the Canada - Newfoundland & Labrador Offshore Petroleum Board.

Petrofac and SOCAR JV secures Caspian engineering and technical services contract

The 12-month contract, with option to extend, will support activity in the Absheron natural gas field, located in the Caspian Sea approximately 100 kilometers south of Baku.

Husky to resume full production at White Rose offshore Newfoundland

Husky Energy announced it will resume production from the remaining two drill centers shut in following a November 2018 oil spill offshore Newfoundland and Labrador.

Equinor completes $965 million GoM acquisition from Shell

The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction, in which Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oil field from Shell for $965 million in cash.

GulfDrill JV inks $656 million jackup contract with Qatar Petroleum

Seadrill and Gulf Drilling International have entered into a 50:50 joint venture, GulfDrill, which will initially manage and operate five premium jackups in Qatar with Qatar Petroleum commencing throughout 2020.

Norway’s offshore production beats July forecast, still down for the year

The Norwegian Petroleum Directorate’s preliminary production figures for July 2019 show an average daily production of 1,799,000 bbl oil, NGL and condensate, which is an increase of 402,000 bpd compared to June.

Canadian petroleum agency approves Hibernia platform restart following spill

The Canada-Newfoundland and Labrador Offshore Petroleum Board issued approval to Hibernia Management and Development Company Ltd. to resume production operations at the Hibernia platform.

MODEC issues $1.1 billion in bonds to refinance FPSO in Brazil

This project bond was issued for the FPSO Cidade de Mangaratiba MV24 which has been deployed and is currently in operation at the Iracema Sul oil field, operated by Petrobras, in the "pre-salt" region offshore Brazil.

Equinor’s $7.7 billion Mariner field starts up in the UK North Sea

The Mariner reservoirs have up to 3 billion boe in place, a 50% increase on what was originally assumed, and the estimated recovery rate has already been increased by 20 percent. Mariner is expected to produce annual average plateau rates of around 55,000 boed and up to 70,000 boed day at peak production.

Angola to offer 10 frontier offshore blocks in new license round

ANPG, the national concessionaire for Angola, holds mineral rights for the exploration, development and production of liquid and gas hydrocarbons. The blocks, which are all considered frontier, currently have no hydrocarbon production.

‘Back-loaded’ hurricane season in store for U.S. Gulf of Mexico

At risk is $17 trillion in U.S. real estate along the coasts, as well as some of America’s most valuable commodities. More than 45% of U.S. refining capacity and 51% of gas processing is along the Gulf of Mexico coastline.

Petrobras contract penalties swing Vantage Drilling to profit

Vantage Drilling reported net income of $590.7 million for the second quarter of 2019, thanks to payments of more than $700 million by Petrobras for terminating drilling vessel contracts.

Equinor to start Utgard production in September

Equinor estimates the expected total Utgard sales volume at 1.71 million m3 condensate, 2.73 billion m3 gas and 0.56 million tons of NGL.

Idling LNG tankers hint at increasing appeal of floating storage

Liquefied natural gas tankers are taking longer-than-usual journeys to deliver cargoes and spending more time idling at sea in a sign some traders are starting to use vessels for storage.

Guyana may not be ready for its pending oil riches, but ExxonMobil is

This tiny nation on the north coast of South America is about to become the world’s newest petrostate—and potentially the richest.

Tullow makes significant oil discovery offshore Guyana

Tullow Oil has made its first discovery in its Orinduik license offshore Guyana, exceeding pre-drill forecasts and paving the way for more exploration wells in the near future.

Wintershall Dea starts Dvalin production drilling offshore Norway

Wintershall Dea has begun drilling four production wells on the Dvalin gas field in the Norwegian Sea, getting ready for the start of production in 2020.

Tiny Pacific island eyes LNG market debut with supply deal

New Caledonia, a French territory in the South Pacific, is joining the global liquefied natural gas boom with a plan to use the cleaner-burning fossil fuel in power generation.