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Offshore Production

Growth in Offshore Ops & Maintenance Expenditure Forecast

Growth of 8% in expenditure forecast annually 2012-2016; O&M markets considerably less vulnerable to downturn than their capital-led counterparts.   Over $335 billion worth of expenditure is expected over the next five years on offshore operations & maintenance according to a new report, The World Offshore Operations & Maintenance Market Forecast 2012-2016, by Douglas-Westwood.   Report author Jenny Harbour commented, “In 2011 demand for offshore operations & maintenance services totalled $52.5 billion, having grown at a compound rate of 6.3% over the past five years. Over the next five years we expect a greater compound growth of 8%, as the market recovers from the effects of the global downturn of 2008-2009. This will be driven by a combination of high oil prices, buoyant offshore development activity and rampant price inflation for equipment and services.   “O&M markets are considerably less vulnerable to downturn than their capital-led counterparts. Whilst global offshore drilling activity dropped by an estimated 14% during 2008-2009, total offshore production (the principal driver for all operational activity) grew by 1%. The global offshore O&M market dropped, over the same period, but only by 0.04%, despite widespread price deflation for equipment and services.  


Sen. Breaux Seeks More Oil, Gas Revenue for Louisiana

Employees of Shell Exploration & Production who evacuated from New Orleans before Hurricane Katrina will come back to the city soon, according to a BizNewOrleans report. Former Louisiana Senator John B. Breaux has attempted to step up pressure on Congress to give Louisiana a larger share of oil and gas revenues from offshore production activity as a means of funding the recovery from the hurricane and flood. Breaux has proposed creating the Louisiana Oil Producing and Energy Cooperative with


GE Oil & Gas $120M Subsea Service Contract

Petróleo Brasileiro S.A. (Petrobras), a world leader in deep-water and ultra-deep water oil production, has awarded GE Oil & Gas a four-year service agreement to deliver repairs, maintenance and retrofits on Petrobras’ fleet of subsea equipment installed in the Campos Basin offshore Brazil. The scope of the agreement, valued at approximately $120M, includes service and repairs on over 300 exploration and 250 production tools


Vietnam Offshore Contract for EMAS AMC

EMAS AMC contracted by Petroleum Technical Services Corporation Mechanical and Construction to provide facilities for the Dua sub-sea field. Singapore-based EMAS AMC, the subsea division of EMAS, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, has been awarded a contract from Petroleum Technical Services Corporation Mechanical and Construction (PTSC M&C) for the transportation and installation of facilities for


ABS Secures Prestigious PFLNG Classification Contract

Logo

ABS, a leading provider of classification and technical services to the global offshore industry, has been awarded the classification contract from PETRONAS, Malaysia’s national oil company, for the company’s second floating LNG facility (PFLNG 2). The vessel will be built at the Samsung Heavy Industries yard in Geoje, Korea. “This is a very significant award for us,” says ABS Chairman and CEO Christopher J. Wiernicki


A Boost for UK Offshore Drilling? DW Monday Muses

North Sea operations: File photo

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report – the “Wood Review” – to maximise UK offshore oil & gas recovery advises Douglas Westwood's 'DW Monday' study. From a peak of 396 in 1996, numbers of wells drilled offshore UK fell to 164 in 2013, a low not seen since 1979.  Development wells were down from 289 in 1998 to 120 in 2013


Keppel FELS Brasil Secures FPSO Topside Contracts

Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Keppel FELS Brasil, has secured two contracts totalling R$500 million (approx. S$381.4 million) - one from Single Buoy Moorings Inc. (SBM), and another from the joint venture company MODEC and Toyo Offshore Production Systems (MTOPS).   Mr Chow Yew Yuen, President (The Americas) of Keppel O&M, said, "Keppel has worked closely with various international drillers and fleet owners operating in Brazil for


WTS Opens Houston Office

WTS Vice President, Americas Region, Philip Bannerman

Wilhelmsen Technical Solutions has established a new office in Houston, Texas in response to increased client demand for its newbuilding and aftermarket products and services. WTS is targeting increased business from the local offshore industry in the Gulf of Mexico and an expanded focus on Brazil, where deepwater offshore production is entering a new and dynamic phase. WTS Vice President, Americas Region, Philip Bannerman says the company is well placed to provide the mix of skills and


Keppel Secures $200 Million in Contracts

Keppel Offshore & Marine Ltd's (Keppel O&M) subsidiaries - Keppel FELS Brasil S.A. (Keppel FELS Brasil) and Keppel Shipyard Ltd (Keppel Shipyard) - have secured two contracts worth S$200 million from repeat customers. Keppel FELS Brasil's contract is with MODEC and Toyo Offshore Production Systems Pte Ltd (MTOPS), a joint-venture company between MODEC, Inc. and Toyo Engineering Corporation (TOYO), to integrate the topside modules of a Floating Production Storage and Offloading


ABB Wins Third Ichthys FPSO Major Contract

ABB appointed main electrical contractor (MEC) for a new floating production, storage and offloading (FPSO) vessel at the Ichthys oil & gas field in the Timor Sea off Western Australia. The order is worth $30 million and was awarded by the engineering, procurement and construction (EPC) contractor for the FPSO, Daewoo Shipbuilding & Marine Engineering. This is the third major contract that ABB has been awarded for the Ichthys oil and gas project


BSEE to Perform Risk-based Inspections

The Bureau of Safety and Environmental Enforcement (BSEE) has launched a pilot Risk-Based Inspection Program in an effort to improve its focus on offshore oil and gas facilities that exhibit a number of distinguishing risk factors.   According to BSEE


Keppel Wins $88.5M in Floating Production Contracts

Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win support from repeat customers by securing four contracts worth a total of about $88.5 million.   In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard)


Keppel Secures $125 mln Repeat Contracts

Courtesy Keppel Offshore & Marine Ltd

  Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win strong support from repeat customers by securing four contracts worth a total of about S$125 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel


Petrobras Average Daily O&G Output Rose 4.3% in 2015

Oil and natural gas output at Petróleo Brasileiro SA rose 4.3 percent last year, the second annual increase after two years of declines, as long-delayed offshore production systems came on line.   Petrobras, as the company is known, produced an average 2


OTC’s Highest Award for Petrobras

Petrobras’ Exploration and Production Director, Solange Guedes

  Petrobras’ Exploration and Production Director, Solange Guedes, received the OTC Distinguished Achievement Award for Companies, Organizations and Institutions, the highest recognition that an oil company can be given as an offshore operator


Safeway: New Motion Compensated Gangway

Image: Van Aalst

The Van Aalst Group has introduced a new motion compensated gangway system under the brand name Safeway.   Developed and built in the Netherlands, the Safeway gangway bridge makes it possible for vessels to land at a broad range of offshore constructions


Harnessing Offshore Wind Peaks in U.S.

Wind Energy Photo IWEA

  For the US energy industry, 2014 will be remembered as the year when crude oil prices fell below 50$/bbl, resulting in significant realignments in the sector. Aside from the oil price collapse and the historic high of domestic natural gas production


Ezra Swings into Red in Q3

Image: Ezra Holdings

 Ezra Holdings saw its net profit for 9M15 grow 50.6 percent to US$51.5 million despite a net loss of US$3 million for the latest quarter, as sluggish oil prices weighed on activities of the oilfield service industry.   For the first nine months of its financial year


BV Extends Offshore Services with APSYS Partnership

Classification society Bureau Veritas (BV) informs it has extended the range of reliability solutions it provides for the global offshore industry through a partnership with aerospace risk management firm APSYS. Under the agreement, APSYS will adapt best aerospace practices and tools to the


NOIA Applauds RI Offshore Wind Project

Randall Luthi (Photo: NOIA)

National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm, stating an all-of-the-above strategy combining offshore wind with offshore oil and gas off the U.S


Rapid Oil Spill Response Vessel Launched

George Penman (Photo: WCMRC)

Western Canada Marine Response Corporation (WCMRC) launched their newest oil spill response vessel in Burrard Inlet. The boat, named after former employee George Penman, was christened at a private ceremony in Coal Harbour. The $4.5 million G.M


SBM Offshore Invited to Participate in Petrobras Tenders

Netherlands-based floating production solutions provider SBM Offshore announced that its main Brazilian subsidiary has received written notification from Petrobras of its ability to participate in the recently issued Libra and Sépia FPSO tenders in Brazil.  


RINA Group Widens Gas Sector Services

International classification, certification and engineering group RINA said it has widened its services to the global gas industry. While its traditional classification society arm RINA Services has recently approved a new Compressed Natural Gas carrier to aid the exploitation of marginal fields


Port of Rotterdam Attracts Offshore Wind

Photo by The port of Rotterdam

 Up to now, the port of Rotterdam, the largest seaport in Europe, has played a negligible role in the construction of offshore wind farms in Europe. But that is about to change. On Maasvlakte 2, Sif Group and Verbrugge International are building a dedicated offshore terminal and a production


DNV GL Launches Class Standard for Offshore Gangways

Photo: DNV GL

DNV GL today published the first industry standard providing guidance on offshore personnel transfer by gangway. DNVGL-ST-0358 will contribute in documenting and securing safe operational performance of offshore gangway solutions and contribute to predictability and transparency within the industry






 
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