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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


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


ABS Secures Prestigious PFLNG Classification Contract

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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


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


MCO Receives Order for Six Compressor Packages

Tokyo - Mitsubishi Heavy Industries Compressor Corporation (MCO), a wholly-owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI), has received an order for six compressor packages, to be installed on a floating production, storage and offloading system (FPSO), which Tupi BV plans to operate in the area of BM-S-11 at Brazil's coast. The compressor packages are the core unit of equipment to export natural gas extracted from oil fields.


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


Rosneft & Zarubezhneft Seek New Opportunities on Vietnamese Shelf

  On June 16th, 2014 within the frame of the World Petroleum Congress Rosneft President, Chairman of the Management Board Igor Sechin, PetroVietnam Oil Corporation President and General Director Dr. Do Van Hau and General Director of JSC Zarubezhneft Sergey Kudryashov signed a Memorandum of


Offshore Float-over Installation Generates Renewed Interest

Bigger and heavier decks are on the horizon, installed in more remote locations.

An offshore installation method that is more than three decades old is generating renewed interest from many operators who are challenged with designing heavy-lift crane installations. Float-over installation has become a cost-effective alternative to lift installation for offshore construction


GofM 2014 Production Storm Shut-ins Likely Higher This Year

GoM Shut in production: Source EIA Short-Term Energy Outlook, June edition

The risk of Gulf of Mexico 2014 production shut-ins by storms is considered to be higher than last year, according to a recent U.S. Energy Information Administration (EIA) analysis of the potential for Gulf oil and gas shut-in production during the upcoming months, as follows:


Total Restarts Production at St Fergus Terminal

Production at the St Fergus natural gas terminal in Britain restarted on Monday afternoon following an unplanned offshore outage which resulted in reduced production, Total Exploration and Production UK said. The outage at the terminal on the northeast coast of Scotland caused UK spot natural


Shell drops Norwegian subsea gas project

Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production. Shell said on Friday it would postpone a project to provide subsea compression


Topaz Secures another West Africa Contract

The Topaz Faye

Topaz Energy and Marine, an offshore support vessel company with primary operations in the Middle East and Caspian, announced a new contract win for its fast growing West Africa operation. Under the terms of the $11 million agreement, Topaz will supply a global oil major with a platform supply


Topaz secures another West Africa contract

Topaz-faye DP2 platform

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced a new contract win for its fast growing West Africa operation. Under the terms of the US$ 11 million agreement


POSH raises $311m in Singapore IPO

Image: POSH file photo

POSH prices IPO at S$1.15 per share, near bottom of indicative range. POSH focuses on service to production, maintenance and is keen on growing offshore accommodation business. PACC Offshore Services Holdings (POSH) could raise at least S$388


The History of Offshore Energy

Gracing the cover of the June 1, 1957 edition was a  “Huge Oil Drilling Barge” the Margaret which was one of the largest ever built at 300 ft. long, 200 ft. wide and 93 ft. high, capable of an operating depth of 65 ft. Margaret was built by Alabama Dry Dock & Shipbuilding Company for the Ocean Drilling and Exploration Company, New Orleans.

Offshore exploration is a history of man v. nature, with ever bigger technology and investment   Prospecting for oil is a dynamic art. The greatest single element in all prospecting, past, present and future, is the man willing to take a chance


ABS Wins Petronas FLNG Classification Contract

Christopher J. Wiernicki (Photo: ABS)

The Petronas facility is scheduled to start deepwater operations offshore Sabah, Malaysia, in 2018 ABS, a provider of classification and technical services to the global offshore industry, has been awarded the classification contract from Petronas, Malaysia's national oil company


North Sea – Hope for Declining Production?

douglas-westwood.gif

Western Europe will continue to rely on imported Russian gas into the 2020s as mature offshore provinces struggle for growth, while large-scale shale gas extraction looks increasingly unlikely in the medium term, according to Douglas Westwood


Petrobras Won't Seek SBM Offshore Bids During Probe

Photo courtesy SBM Offshore

Brazil's state-run oil company Petroleo Brasileiro SA , or Petrobras, will not seek bids from SBM Offshore NV while the Netherlands-based oil production ship leaser is under investigation for alleged bribery in Brazil, said Maria das Graças Foster, Petrobras' chief executive


Kongsberg Selected for Sverdrup Field Development

Photo courtesy of KM

Kongsberg Maritime AS has been awarded a Project Specific Agreement including FEED for delivery of Safety and Automation (SAS) systems to the four Johan Sverdrup field platforms by Statoil Petroleum AS.   The Project Specific Agreement includes an option for delivery of Safety and


Obama’s Energy Strategy Doesn’t Go Far Enough

Randall Luthi

Announcing its “All-of-the-Above” energy strategy today, the Obama Administration rightfully celebrates the United States’ new position as the largest global producer of energy but fails to acknowledge Federal actions that could bring even more resources to market


Intergraph Introduce Module Fabrication CAD Control Package

Image courtesy of Intergraph

Las Vegas-based provider of enterprise engineering software for the process, power and marine industries, Intergraph, says it has released Intergraph Smart Production powered by NESTIX, the offshore and shipbuilding industries. Stephen Furze, Intergraph Process






 
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