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
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
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
Rhode Island's Deepwater Wind will start installing the foundations for North America's first offshore wind farm on Monday, a milestone the company says could pave the way for an industry long established in Europe but that is still struggling with opposition in the United States.
Vessels are stacked as Gulf oil operators retrench and day rates fall. In the Gulf of Mexico, vessels serving offshore oil-and-gas exploration and production are being stacked or idled as the rig count there declines. Oil companies are retrenching while crude prices remain weak
Despite industry gloom about the offshore market, orders for production floaters continue to flow. Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been
Deepwater Horizon trustees announce agreement in principle for 10 Gulf early restoration projects The trustees and BP have identified approximately $134 million in projects to be included in the next proposed phase of early restoration
Ceona, SURF contractor with heavy subsea construction capabilities, has entered into a Joint Venture (JV) with Seaweld Engineering which will act as a strategic partner for offshore deepwater construction projects in Ghana. The JV allows Ceona to extend its operations in West Africa and build
On 26 March, the Solitaire pipe-laying vessel started on the first stage of the Polarled installation project. The 482-kilometre long pipeline will transport gas from the Aasta Hansteen field in the Norwegian Sea to Nyhamna in western Norway.
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