Shell has begun production from the Mars B development through Olympus, the company’s seventh and largest floating deepwater platform in the Gulf of Mexico. It is the first deepwater project in the Gulf to expand an existing oil and gas field with significant new infrastructure, which should extend the life of the greater Mars basin to 2050 or beyond. Combined future production from Olympus and the original Mars platform is expected to deliver an estimated resource base of 1 billion barrels of oil equivalent (boe). “With two large platforms now producing from the deep-water Mars field, this project demonstrates our deepwater project delivery and leadership,” said John Hollowell, Executive Vice President for Deep Water, Shell Upstream Americas. “We safely completed construction and installation of the Olympus platform more than six months ahead of schedule, allowing us to begin production early from the development’s first well. Olympus is the latest, successful start-up of our strong portfolio of deepwater projects, which we expect to generate substantial value in the coming years. Deep water will continue to be a core growth opportunity for Shell.” In addition to the Olympus drilling and production platform, the Shell Mars B development (Shell 71.5% operator, BP 28.5%) includes subsea wells at the West Boreas and South Deimos fields, export pipelines, and a shallow-water platform, located at West Delta 143, near the Louisiana coast
Danish shipping and oil group A.P. Moller-Maersk says its investment in Angola's Chissonga oil field is under consideration as a result of falling oil prices. "We will only continue the project if we feel comfortable that we have limited risk and could expect reasonable returns," Chief Executive Nils Smedegaard Andersen said on a teleconference with journalists. He said it is a fact, that deepwater projects like Chissonga are challenged because of high costs.
FMC Technologies, Inc. to support Shell's ultra-deepwater project in the Walker Ridge area of the Gulf of Mexico. Stones is located approximately 200 miles (322 kilometers) off the Louisiana coast in approximately 9,600 feet (2,926 meters) of water. FMC Technologies' scope of supply includes eight subsea trees, a subsea manifold, topside and subsea controls and associated equipment. "Deepwater operations in the Gulf of Mexico require advanced capabilities and innovative solutions
Crowley Maritime Corporation recently christened and launched barge 455-3, the third heavy-lift 455 series flat-deck barge to be built and delivered to Crowley this year by Gunderson Marine in Portland, Ore. Susan Michel, Crowley's director of people development and learning, had the honor of sponsoring and christening the newest addition to the company's growing big-barge fleet. Barges 455-3, 455-2 and the Marty J, all delivered this year
Subsea 7’s flagship ‘Seven Borealis’, a customized SOC 5000 design designed by Ulstein has been nominated for the prestigious Ship of the Year Award organized by the Offshore Support Journal. Voting is open until close of business on 25 January via this link: www.surveymonkey.com/s/13SVVOTE. The Seven Borealis measures 182.2 x 46.2 meters and has a moulded depth of 16.1 meters. This state-of-the-art pipelay/heavy lift vessel, delivered 2012
Well Ops, Inc., a subsidiary of Cal Dive International, Inc. had the successful first application of the company's purpose-built, open water intervention riser system. Cal Dive's well intervention vessel, the Q4000, deployed the system in 1,042 ft. of water, where it was latched to a horizontal Cameron tree. The system includes a control umbilical, two-in. annular line, 7.375-in. flowhead and swivel. The riser system was integral to a successful well decommissioning operation
Technip in a Joint Venture with MMHE awarded substantial contract for the Malikai Project in Malaysia. Technip in a joint venture with Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has been awarded a substantial contract by Sabah Shell Petroleum Company Ltd (SSPC) for the engineering, procurement and construction of a tension leg platform (TLP) for the TLP Malikai Deepwater Project. This TLP will be designed as a fully-manned platform to be installed 110 kilometers offshore Sabah
Ezra wins $110 million engineering and fabrication contract from Jurong Shipyard for deepwater project in Brazil; engineering, procurement and construction (EPC) contract scope includes supply of an external, bow mounted, cantilever turret mooring system with swivel stack Ezra Holdings Limited’s wholly owned subsidiary, London Marine Consultants (LMC), Ezra’s Floating Production, Storage and Offloading (FPSO) Turret Design outfit
Chevron Corporation reported 1998 preliminary net income of $1.98 billion, down 39 percent from 1997 net income of $3.3 billion. Net income for 1998 and 1997 included net benefits of $31 million and $76 million, respectively, from special items. For the fourth quarter 1998, net income of $431 million included net charges of $72 million from special items. Charges associated with asset write-downs; reserves for environmental remediation and a litigation issue; and last-in
An EPC contract for a production unit can easily exceed $1 billion – and $3 billion for an FPSO has recently been breached. Overall, this is a $20 to $30 billion annual market. But, as described below, the sector is hitting some headwinds that could impact future business opportunities. Backlog of Planned Floater Projects 243 floating production projects are in various stages of planning as of beginning May
Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016. EIA projects GOM production to reach 1.52 million barrels per day (bbl/d) in 2015 and 1
Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager. The contract will see Maersk Voyager work on the Offshore Cape Three Points (OCTP) Project offshore Ghana with expected commencement in July 2015
25 Units Orders in 2014: 10 FPSOs, 1 Barge, 4 FLNGs, 7 FSRUs & 3 FSOs The overall number of orders is similar to the average ordering pace over the past 10 years, during which an average of roughly 25 production and storage floaters were ordered annually.
MacGregor, part of Cargotec, has received a large order from Shanghai Zhenhua Heavy Industry Co Ltd (ZPMC). The contract is for four offshore cranes, including a 400-metric-ton SWL active heave-compensated crane capable of deploying 3,000-meter of wire rope.
Floating production has been one of the most significant achievements in the upstream oil and gas industry over the past four decades. The ability to produce in deepwater has opened a new frontier in oil and gas development – and has generated a huge business base for suppliers of floating
Chevron Corporation (NYSE: CVX) announced that crude oil and natural gas production has begun at the Jack/St. Malo project in the Lower Tertiary trend, deepwater U.S. Gulf of Mexico. Jack/St. Malo is a key part of Chevron's strong queue of upstream projects and was delivered on time and on budget
Chevron Corporation announced today that the Hess Corporation-operated Tubular Bells deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production. The field is located 135 miles (217 km) southeast of New Orleans, in approximately 4,300 feet (1
What’s New in October 2014? Today 324 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 78% of systems on order. Production semis, barges
Chevron Corporation announced today that its subsidiary, Union Oil Company of California (Union), has reached a final investment decision to proceed with the development of the Hess Corporation-operated Stampede project in the deepwater U.S. Gulf of Mexico
Today there are 324 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 64% of the existing systems, 79% of systems on order. Production semis, barges, spars and TLPs comprise the balance.
Maersk Drilling Chief Executive Claus Hemmingsen talked to Reuters on the sidelines of A.P. Moller-Maersk's annual capital markets day. Maersk Drilling has focused on two areas - harsh environment rigs primarily in Norway and deepwater rigs in the Gulf of Mexico and off West Africa.
Sea Trucks Group Limited, an international oil and gas marine contractor with a track record in the key oil and gas producing regions, particularly West Africa, announced a $130 million facility to finance the completion of Jascon 18 has been signed.
What’s New in August 2014 There are 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 64% of the existing systems, 79% of systems on order. Production semis, barges, spars and TLPs comprise the balance
The floating production business continues to be very strong, particularly in the LNG gas processing sector. Last month saw a speculatively ordered floating liquefaction plant – a $1.2 billion contract – as well as several regasification vessel contracts
Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design company MarinTeknikk’s MT 6015 MPSV design and will be outfitted with a crane, helideck and FiFi II