Oil And Gas Developments News

A rising tide lifts all boats, as the saying goes, and while the offshore industry is currently experiencing a wide-ranging surge, there are vessel types and specific market segments that are expected to benefit more than others.One such segment is the offshore construction vessel (OCV) types, which to an increasing degree have found themselves in hot demand from both oil and gas developments as well as offshore wind activities.While vessel definitions and abbreviations in this space can vary…

The U.S. Department of the Interior said Monday that President Biden would take action to designate about 2.8 million acres in the Arctic Ocean nearshore the National Petroleum Reserve-Alaska (NPR-A) as indefinitely off-limits for future oil and gas leasing. This action will complete protections for the entire Beaufort Sea Planning Area, building upon President Obama’s 2016 withdrawal under the Outer Continental Shelf Lands Act to protect the Chukchi Sea Planning Area and the majority of the Beaufort Sea…

Dutch crane specialist Huisman has signed a letter of intent with Norway-based Wergeland and PSW for the delivery of its Skyhook quayside crane at the Gulen Industrial Harbour, Norway.The crane - dubbed the largest Slewing Jib Quayside Crane in the world - will be deployed at the Gulen Industrial Harbour, the base of Wergeland and near PSW Group in Mongstad, providing the additional potential for both decommissioning works as well as for outfitting the next generation deepwater semi-submersibles in the port’s 100 meters wide dock.

Engineering X – an international collaboration founded by the Royal Academy of Engineering and Lloyd’s Register Foundation – has awarded nearly £1 million ($1.2 million) in grants to six projects in the U.K. and overseas aimed at tackling the complex social, environmental and engineering challenges of decommissioning ships and offshore structures.From training to improve worker safety in ship recycling facilities in Bangladesh, to assessing the risks of structural failure of decommissioned offshore structures…

Two U.S. warships are operating in the South China Sea, the Navy said on Tuesday, with three regional security sources saying they were near an area of a standoff between China and Malaysia.The Haiyang Dizhi 8, a Chinese government research ship, was spotted last week conducting a survey close to an exploration vessel operated by Malaysia’s state oil company Petronas, months after it undertook a similar patrol off Vietnam.The incident prompted the United States to call on China to stop its “bullying behavior” in the disputed waters, citing concern over Beijing's provocative actions towards offshore oil and gas developments there.The U.S.

The United States called on China on Saturday to stop "bullying behavior" in the South China Sea and said it was concerned by reports of Beijing's "provocative actions" aimed at offshore oil and gas developments in the disputed waters.Three regional security sources told Reuters on Friday that a Chinese government survey ship was tagging an exploration vessel operated by Malaysia's state oil company Petronas in those waters.The vessel Haiyang Dizhi 8 was earlier this week spotted off Vietnam, where it had last year conducted suspected oil exploration surveys in large expanses of Vietnam's exclusive economic zone."The United States is concerned by reports of China's repeated provocative actions aimed at the offshore oil and gas development of other claimant states," the U.S.

The multi-billion capital investment by Equinor at its new Dogger Bank Offshore Wind Farm will see it rival its major oil and gas projects, according to Rystad Energy."The offshore wind project Dogger Bank in the UK North Sea will not only be Equinor’s largest project through 2026, it will also rank as the sixth largest offshore development project in the world during this period," said the energy research firm.UK authorities announced on Friday that Equinor and joint venture partner SSE have been chosen to develop the world’s largest offshore wind farm, Dogger Bank, with an expected $11 billion in capital investments from 2020-2026.Audun Martinsen…

DNV GL has developed a solution that is designed to reduce the risk of offshore floating vessel mooring line failure going undetected by replacing physical sensors with a machine learning algorithm that accurately predicts line failure in real time.The Norwegean company's Smart Mooring solution addresses growing industry concern about the high frequency of mooring line failure, and a vessel’s subsequent loss of station. Over the past two decades, more than 20 incidents have been reported globally involving failure of permanent mooring systems on floating structures.In the most severe cases, vessels have drifted and risers have ruptured…

United Kingdom Ambassador to Greece Ms. Katherine Smith visited Energean offshore drilling facilities at Prinos.The Delegation of the British Embassy toured by boat the Prinos Oil Field Platforms and “Energean Force”, the Energean owned drilling rig, which is currently drilling an extended reach well into the Epsilon Oil Field. The Delegation circumnavigated the jack-up rig “GSP Jupiter”, which is currently drilling the first of the three vertical development wells in the Epsilon Oil Field.After concluding her visit to Prinos, British Ambassador Katherine Smith stated: “I would like to thank Energean team for the opportunity of the visit; exciting and informative.

Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high prices that still hamper the trade. The Anglo-Dutch firm did not give a reason for the drop in purchases, which were disclosed in its annual report, and the company declined to comment further. But oil trading sources say Iranian oil is often too expensive and in any case remaining sanctions make dealing with the Islamic Republic a legal minefield. As an example of sanctions-related difficulties, Shell's filings showed it had to disclose payments of only a few hundred dollars when its employees bought tickets with Iranian airlines.

Bibby Offshore, a subsea services provider to the oil and gas industry, says it has secured a 15-day project with BP, due to commence in August 2016. The contract will see diving support vessel Bibby Topaz, working on four BP operations across three of its North Sea assets. The platforms involved include Central North Sea-based asset Bruce, east of Shetland-based Magnus, and the Mirren field, which is part of the Eastern Trough Area Project (ETAP), one of the largest and most complex North Sea oil and gas developments of the past 20 years. The project, managed by the Bibby Offshore team, involves the supply of air and saturation diving support to perform operations including spool and flowline disconnection…

Statoil has awarded Harding a contract for delivery of the nine free-fall lifeboats needed for the first phase of the Johan Sverdrup North Sea development. The contract comprises nine FF1200- lifeboats, with nine corresponding LA 1200 SU davits, and constitutes a relatively large order on Harding's scale. The nine lifesaving systems will be delivered during 2017, and will then be installed on the living quarters platform for Johan Sverdrup. Both the lifeboats and the davit system have been developed by Harding in Norway.

Aker Solutions announced their Financial Results for the first quarter of the current calendar year. * EBIT margin ex. Aker Solutions' revenue rose 14 percent to NOK 8.5 billion in the first quarter of 2015 from a year earlier, boosted by progress on major projects from Angola to Brazil and Norway. Earnings before interest and taxes (EBIT) fell 22 percent to NOK 409 million in the quarter from a year earlier. The EBIT margin in the same period narrowed to 4.8 percent from 7 percent. Earnings were impacted by costs of overcapacity in the maintenance, modifications and operations (MMO) workforce, a NOK 52 million provision to cover lease costs for vacated office space and a NOK 26 million write-off on some subsea technology.

*EBIT margin ex. Aker Solutions revenue rose 21 percent to NOK 9.2 billion in the fourth quarter of 2014 from a year earlier, helped by strong progress on major projects across the global business. Earnings before interest and taxes (EBIT) climbed to NOK 557 million in the quarter from NOK 486 million a year earlier. The EBIT margin narrowed to 6.1 percent from 6.4 percent amid a slowdown in the Norwegian maintenance, modifications and operations (MMO) market and as some major subsea projects are still in a start-up phase. This was partly offset by strong project execution at the U.S. umbilicals plant, improved capacity utilization in the engineering area and reduced overhead costs in MMO. The EBIT margin, excluding one-off items, was 6.8 percent.

Several key oil and gas developments in Norway will cost much more than earlier expected and fields with approved development plans are now seen 10 percent more expensive than originally planned, the oil and energy ministry said on Wednesday. Costs in Norway's offshore oil sector, already one of the most expensive in the world, have soared in recent years, weighing on the budget which provides generous tax breaks during the development phase. The government has already said it would reduce tax breaks for new developments and the oil ministry launched an investigation into why costs soar.

Kvaerner and KBR, Inc. will establish a joint venture to competitively bid on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway, the companies announced. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore platforms with KBR's competence as an international offshore oil and gas contractor. "KBR sees Kvaerner as one of this industry's most experienced EPC contractor, particularly for demanding projects in Norway, including the Johan Sverdrup field," said Stuart Bradie, KBR President and Chief Executive Officer. The Johan Sverdrup field is one of Norway's largest offshore oil and gas fields, and it is expected that the first development phase will include four offshore platforms for a new field center.

Kvaerner ASA says it is to establish a joint venture with KBR Inc. to bid competitively on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore platforms with KBR's competence as a leading international offshore oil and gas contractor. The Johan Sverdrup field is one of Norway's largest offshore oil and gas fields, and it is expected that the first development phase will include four offshore platforms for a new field center. "KBR sees Kvaerner as one of this industry's most experienced EPC contractor, particularly for demanding projects in Norway, including the Johan Sverdrup field," said Stuart Bradie, KBR President and Chief Executive Officer.

Having sat in this seat for more two decades I am sometimes asked if I’m tired of the job and ready to move along. (Thankfully, though, that question has never come from my boss.) Unequivocally the answer is “no.” While the maritime industry is often erroneously labeled as conservative and behind the technological times, it is in fact a vibrant and multi-faceted transport niche, a literal cast of characters with a liberal mix of international, national and local interests, power, innovation, money and greed.

NorSea Group and the Scrabster Harbour Trust in Caithness have agreed on construction of the new supply base for the oil & gas sector. Under the agreement NorSea Group will work with the Trust to bring in new business and develop Scotland’s most northerly mainland port as a one-stop supply base servicing the oil and gas industry. "We are very excited about co-operating with Scrabster Harbour Trust to develop business for the strategically important port of Scrabster. The vision and commitment of the Trust have been fundamental in our decision to establish NorSea Group there.

PetroChina Company signs agreements with ConocoPhillips to take interests in W. Australian exploration assets & a JSA in China. Under these agreements, PetroChina will acquire 20% interest in the Poseidon offshore discovery in the Browse Basin, and 29% interest in the Goldwyer Shale onshore Canning Basin. In addition, PetroChina and ConocoPhillips will enter into a Joint Study Agreement (JSA) to study unconventional gas resource in the Neijiang-Dazu Block in China’s Sichuan Basin. The agreements still require government and partner approvals. The signing of these agreements marks a significant step toward increased global collaboration between PetroChina and ConocoPhillips.

The contract is to supply power technologies and medium-voltage drive systems for the new Ichthys liquefied natural gas (LNG) project’s processing plant near Darwin, Australia. The equipment will power the plant and control the compressors that liquefy the gas. Approximately half of the order value was booked at the end of the first quarter with follow through orders in the second quarter. Gas from the Ichthys Field, in the Browse Basin approximately 200 kilometers (km) off the coast of Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The gas will then be exported to onshore processing facilities in Darwin via an 889 km subsea pipeline.

Remontowa Group are commencing operations in West Africa providing direct access to Remontowa's experience and know-how for owners and operators of offshore support vessels. The new entity, Remontowa Marine Services Namibia, will increase Remontowa presence and after-sales client support operations in Africa's growing offshore market. The major areas of operation to be covered by Remontowa Marine Services Namibia(RMSN) will be offshore industry based in Angola, Nigeria, Gabon and Namibia and others countries in West Coast of Africa. The new Remontowa company will be mainly responsible for servicing offshore support ships belonging to shipping and offshore companies co-operating with Remontowa Group (owners and operators of newbuildings delivered by the Gdansk…

FMC Technologies (NYSE: FTI) announced today that it has received a $125 million order from Petrobras (NYSE: PBR, PBRA), Brazil's national oil company, to supply equipment for use in their oil and gas developments offshore Brazil. The order, for 32 subsea trees, represents the remaining equipment under a 107-tree frame agreement that was announced in February of 2010. Equipment deliveries are scheduled to begin in 2013. "We have been a key supplier to Petrobras for decades and have delivered over 300 subsea trees for their projects in Brazil…