The North Sea upstream market may have problems, but there’s no reason that it can’t be salvaged and nurtured back to health through a combination of smart operating and decision-making, as well as companies working more closely with one another.
Emerging markets are going to be the single biggest factor affecting future oil and gas demand, said a major oil company official at an ONS (Offshore Northern Seas) conference session on Wednesday, in Stavanger, Norway.
Oceaneering is showcasing its newly advanced and environmentally friendly ROV, the eNovus, at ONS 2016. The eNovus will serve as the basis for a future hybrid between AUVs and ROVs. With Remote Piloting and Automated Control Technology, the eNovus enhances user interface and reliability to perform common and complex subsea tasks.
Norway-based Mirmorax AS, an industry leader in sampling and oil-in-water analyzer solutions, particularly in the North Sea, has announced the launch of its Desktop Oil-in-Water Analyzer—the DT250.
It is well recognized that at a national and international level, the oil and gas industry has been extremely hard hit by the downturn in commodity price. More than 350,000 jobs have been lost since oil prices started to tumble in 2014, and Oil & Gas UK has estimated 120,000 jobs linked to the North Sea will have gone by the end of this year.
Since the previous ONS two years ago, the global oil price has dropped more than $50, causing a noticeable effect on the overall activity in the North Sea sector. The whole industry has subsequently made changes in attempts to reduce costs to a competitive level.
Getting the most out of an offshore unit is always the objective of the asset owner, but meeting safety requirements is equally important. So when floating production units (FPUs) are beginning to reach the end of their design life, the obvious question to ask is, “How much longer can this unit continue to operate safely?”
Det norske oljeselskap, operator of PL 442, has completed exploration well 25/2-18 S on the Langfjellet prospect in the North Sea. The well encountered a gross oil column of 109 m in the Vestland Group.
Wood Group has been awarded a new frame agreement by Wintershall Norge to tender for provision of modification and maintenance services to assets on the Norwegian Continental Shelf (NCS).
Gullfaks Rimfaksdalen (GRD) was scheduled for start-up on Christmas Eve this year, but the project has worked faster and now the field is on stream and at lower costs than planned.
Wood Mackenzie has cut $50 billion from its forecast for 2016-2020 capital investment in Norway. This is based on over 10 projects being deferred or scrapped to cut costs, according to the company’s latest study on the future of projects on the Norwegian Continental Shelf.
As the global upstream industry continues to adjust to the new reality of lower oil prices, executives in key countries are looking at how to proceed with further offshore development, both efficiently and expeditiously. Leading the charge in the UK is Andy Samuel, chief executive of the relatively new Oil & Gas Authority UK (OGA).
Some professionals in the global oil and gas industry might think that with oil prices continuing to perform at sub-par levels, all thought of exploiting Arctic plays like the Barents Sea has ceased. But that’s just not true, according to Statoil Executive V.P. Tim Dodson.
Statoil and Petrobras took a step forward in strengthening their cooperation in Brazil by signing a Memorandum of Understanding (MoU).
Following an extensive, multi-year test program of Shell’s Ormen Lange Pilot, GE Oil & Gas is proud to announce that A/S Norske Shell has successfully completed system testing of the world’s first subsea gas compression system with a full subsea power supply, transmission and distribution system that further advances the development of hydrocarbon processing on the seabed.
Sub-zero temperatures, high seas, strong winds and low daylight present their own unique challenges for the offshore sector. Conditions can be tough in the frontier areas opening up in the Norwegian Sea and the Barents Sea—which may call for specialized equipment and robust offshore personnel.
The current pressures faced by offshore oil and gas means that it is essential to make projects economically viable at lower oil prices.
The oil and gas industry is at a turning point. While global energy demand continues to rise, an increasingly constrained operational landscape means that higher efficiency and smarter cost management continue to be the main focus areas for operators and manufacturers alike.
Global Maritime Consultancy & Engineering has successfully led the disconnection and towing operations of the Njord A semisubmersible floating production platform from Njord field.
OSLO, Norway -- AGR has entered into a frame agreement with Det norske oljeselskap for annual, independent reviews of the company’s reserves portfolio.