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Argeo Searcher Set to Sail to Indian Ocean after Shell’s Nigeria Task
Oslo-listed offshore service company Argeo has informed that its DP2 vessel Argeo Searcher completed the deepwater inspection services at Shell’s Bonga field, and is scheduled to set sail to Indian Ocean for a job with India’s National Centre for Polar and Ocean Research (NCPOR).In a vessel schedule update, released on January 22, 2024, Argeo confirmed its current backlog includes close to $53 million (NOK 550 million)…
Westwood: Record Levels of FPS Throughput Capacity to be Sanctioned in 2022
As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3.8 bcfd of gas) of FPS throughput capacity sanctioned year to date (YTD). This represents a 7% increase on 2021, with Westwood anticipating an additional 180 kboepd of FPS throughput capacity to be sanctioned before the end of the year.
West Africa Market Harbors Positive Potential for MODU Operators
The region could be a key growth market for the oil and gas industry going forward, writes Joshua Belo-Osagie, Maritime Strategies International (MSI).Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia.In addition…
TMC Compressors Names New CEO
TMC Compressors (TMC), an Oslo-based company supplying offshore and marine compressors, has appointed Christian Ness as the company’s new CEO.Christian Ness succeeds Per Kjellin as part of a planned generational change. Kjellin will continue working for TMC as advisor in the company’s business development team. He will also join the company’s board of directors, TMC said."This is a well-run business so my mandate is to manage the excellent foundation that is already in place…
Maritime Security: Neo-colonialism in the Gulf of Guinea
Is neo-colonialism in the Gulf of Guinea the answer to West Africa’s maritime crime crisis?In October 2020, China’s transport ministry established an ad hoc workgroup to lay down precautionary measures for ships and seafarers passing through high piracy risk West African waters.The move came as China told its vessels to up vigilance and implement a series of precautionary measures to ensure the security…
Shell to Make Final Investment Call on Nigeria Oilfield in 2019
Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria's Bonga Southwest offshore oilfield, a senior company…
As IOC Books Cargoes, Nigerian October Liftings Mixed
India's IOC booked a total of 4 million barrels from traders Shell and Total, while Nigeria's initial October export plans mostly showed slipping levels. Export plans for Forcados…
W. Africa Crude-Asian Tenders, Pending Export Plans Slow Trade
Physical trading in West Africa was muted as the market awaited tender results and the April-loading Angolan crude oil export plan. * The benchmark oil prices on…
U.S. Light Crude Imports Surge Again
U.S. imports of light crude from across the Atlantic are set to jump this month to their highest in more than two years, according to market sources and trade data…
US Light Oil Imports Resurge to Highest in Years
U.S. imports of light crude from across the Atlantic are set to jump this month to their highest in more than two years, according to market sources and trade data…
Offshore Prospects for 2016: Playing the Waiting Game?
This year, the offshore oil and gas industry has had to come to terms with the worst downturn for more than a decade. With commodity prices plummeting to an 11-year low in December, market research and consulting firm Douglas-Westwood (DW) reflects on the year gone by and considers the outlook for the year to come. Offshore rig markets still have a lot to digest before recovery. Rig dayrates have plummeted as a function of significant oversupply.
FPSO Guide to Life Extension
There are new-builds, and there are conversions. In lean times, there’s also “life-extension” for FPSOs increasingly seen as the best hope of developing oilfields too pricy as platform projects. Life extension is about making first-time money, cutting costs or continuing to earn when a field or floater enters a new stage. It’s also about safety. Life extension involves major, multiyear considerations for operators and FPSO contractors…
Shell Starts Bonga Phase 3 in Nigeria
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) announced the start-up of production from the Bonga Phase 3 project. Bonga Phase 3 is an expansion of the Bonga Main development, with peak production expected to be some 50,000 barrels of oil equivalent, Shell said. This will be transported through existing pipelines to the Bonga floating production storage and offloading (FPSO) facility…
FPSO: Guide to Life Extension
There are new-builds, and there are conversions. In lean times, there’s also “life-extension” for FPSOs increasingly seen as the best hope of developing oilfields too pricy as platform projects. Life extension is about making first-time money, cutting costs or continuing to earn when a field or floater enters a new stage. It’s also about safety. Life extension involves major, multiyear considerations for operators and FPSO contractors…
W. Africa Crude: Tenders Brighten Dull Market
Tender deals helped to liven up a lacklustre West African crude oil market on Thursday, though overall demand remained weak. Indian Oil Corporation bought four cargoes of West African oil…
Brazil Offshore: Petrobras & Subsea Engineering
Brazil’s Petrobras has been one of the leading players in deepwater, subsea development projects since the turn of the century. These projects include pre-salt and post-salt plays…
Subsea Vessels Poised for Increased Global Demand
In its latest subsea vessels report Douglas-Westwood (DW) forecast more than $100b of expenditure on subsea vessel operations over the next five years – with global demand is expected to increase by 23%. The increase in expenditure is expected to be higher than the growth in vessel days, due to the move towards higher specification vessels to cater for deeper and more complicated field development programs.
Nigeria Fines Shell US$ 5-billion for Oil Spill
Dr. Peter Idabor, Director General, National Oil Spill Detection and Response Agency (NOSDRA) was quoted by local media as announcing the fine against Shell Nigeria…
Shell: Bonga Oil Leak Largely Dispersed
SNEPCo confirmed the oil leak from the Bonga facility off the coast of Nigeria has largely dispersed. The news comes five days after less than 40,000 barrels of…
Shell Deepwater Platform Attacked
An attack by armed separatists in speedboats has forced Royal Dutch Shell to shut down its biggest offshore oil production unit in , removing a tenth of the Opec state's output.
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