Offshore ///

K&D Pratt ‘gravely concerned’ for Canadian offshore oil industry’s future

K&D Pratt has expressed grave concern for the economic future of the province without a solid investment from the Government of Canada in Newfoundland and Labrador’s offshore industry.

Oceaneering working to streamline bulk cargo logistics operations

Oceaneering announced the launch of a new business, OceanSMART Cargo Logistics and Maritime Technology, which aims to eliminate waste and increase transparency within the bulk commodity cargo logistics industry.

BP takes largest writedown since Macondo as Covid saps oil demand

In a dramatic revision that prompted questions about the affordability of its dividend, the British giant cut its estimates for oil and gas prices in the coming decades between 20% and 30%. It also expects the cost of carbon emissions to be more than twice as high as before.

Neodrill and Baker Hughes complete industry’s first cut and recover operation in the Norwegian Sea

Neodrill and Baker Hughes announced completion of the world’s first cut and recover operation for Wintershall Dea Norge in the Norwegian Sea. Rig time was reduced by an estimated 12 hours, with work to cut the surface casing moved off the critical path of the rig schedule.

Potential offshore discovery off Canada’s eastern coast fuels optimism

Per Canada’s CBC News, a report this week has stoked some optimism in the Newfoundland and Labrador oil and gas sector, with a description of another “potentially commercial discovery” in the Flemish Pass Basin.

Scotland dedicates £62 million to leading the net-zero energy transition

The investment, with a focus on the North East, underpins the region’s ambitions to become a world leader in the transition to net zero, helping Scotland meet its ambitious targets on climate change.

Gabon expands 3D seismic access for offshore licensing round

Gabon’s Directorate General of Hydrocarbons and PGS have just expanded the Gabon MegaSurvey coverage, significantly increasing access to 3D seismic over the 35 blocks on offer under the ongoing 12th Offshore Licensing Round.

Sparrows Group starts up new Luanda, Angola facility

The move provides the company with a new workshop, storage yard, training facilities, and office to deliver its International Organization for Standardization (ISO) certified services in-country. This includes a broad range of turnkey engineering, equipment maintenance and training services.

Underperforming offshore wells rack up over $100 billion in abandonment liabilities worldwide

Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want shut down amid low oil prices and a struggling global economy. But the effort won’t be cheap.

Aker Energy commits to making the Pecan field offshore Ghana a success

Aker Energy Ghana Limited reaffirmed its commitment to finding a solution that will allow for the commencement of a phased development of the Pecan field offshore Ghana.

Wind turbine inventor sets sights on high-power deepwater renewables

If the next generation of wind farms can float, and if costs can be kept low, it could usher in an era of almost unlimited, emission-free energy. The International Energy Agency (IEA) estimates that floating wind turbines could help provide enough electricity to satisfy the world’s electricity needs 11 times over, based on expected power demand in 2040.

Noia requests response from Canadian PM Trudeau on urgent requests for help

Noia wrote Prime Minister Justin Trudeau to request a response to pleas from the industry and the Government of Newfoundland and Labrador to provide assistance to help the offshore oil and gas industry recover from COVID-19 and remain globally competitive.

Turkey accelerates plans to drill in disputed Mediterranean waters

The eastern Mediterranean has become an energy hot spot with big finds for EU member Cyprus, Israel and Egypt in recent years, and Turkey’s push to secure a share of the resources in those waters has exacerbated strains in an already tumultuous region.

Siemens to supply equipment for large-scale gas field development offshore Malaysia

Siemens Gas and Power was awarded a contract to supply three SGT-300 industrial gas turbine generators (GTG), three mechanical-drive SGT-300 gas turbines and three DATUM centrifugal compressors for the PETRONAS Kasawari Gas Field Development Project in the South China Sea, offshore Sarawak in Malaysia.

DNV GL launches new certification in infection prevention for the maritime industry

The release of this custom certification aims to help the maritime industry resume operations better prepared for COVID-19 or other emerging pathogens.

WFS Technologies and Subsea Energy Solutions team up on offshore monitoring systems

WFS Technologies has joined forces with Subsea Energy Solutions to harness their combined global expertise and market-leading range of live condition monitored cable protection systems for the offshore energy industry.

Ghana reconsiders oil’s role in its economy as prices fall

The global slump in crude prices is giving Ghana a chance to rethink its dependence on a sector that was its key driver of economic growth in recent years.

Senior Canadian officials unite to support offshore industry

Newfoundland and Labrador Premier Dwight Ball, along with provincial Minister of Natural Resources Siobhan Coady, expressed support for a focused initiative to persuade the federal government to provide immediate assistance to East Canada’s offshore industry, which has been hit hard by Covid-19 and the collapse of oil prices.

Gulf of Mexico operators can expect an active 2020 hurricane season

Federal researchers are now weighing in on the hurricane season ahead, forecasting as many as 19 named storms for the year, at least six of which are likely to become hurricanes.

Archer Limited secures multi-well P&A contract for modular rig Archer Topaz in the UKCS

Archer announced a formal contract award for provision of a modular drilling unit and associated services by TAQA.