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Oil Field News

12 Mar 2024

DOF Bags Shell’s Decommissioning Contract for Knarr and Gaupe Fields

Skandi Hera AHTS vessel (Credit: DOF Group)

Norwegian offshore vessel operator DOF Group has secured a ‘substantial’ subsea engineering procurement removal and disposal (EPRD) contract from Norske Shell in the Atlantic region.The contract outlines 100 combined days of utilization of DOF’s vessels Skandi Hera and Maersk Installer.DOF will deliver an integrated solution of project management, engineering, design, analysis and survey.Described as ‘substantial’ by DOF, this means that the contract is valued between $23.8 million and $47.8 million (NOK 250 million to NOK 500 million).The scope includes recovery and recycling of umbilicals…

10 Mar 2024

Esgian Week 10 Report: Additional Backlog Secured

© freddytb Foto / Adobe Stock

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

12 Feb 2024

Altera Hires DOF to Install Voyageur Spirit FPSO Offshore Ivory Coast

Voyageur Spirit FPSO (Credit: Kishorn Port & Drydock)

Altera Infrastructure has hired DOF to install Voyageur Spirit floating production, storage and offloading (FPSO) unit as well as one floating storage unit (FSO) at Eni-operated Baleine oil field offshore Ivory Coast.The project includes the complete installation of seabed mooring systems, flowline between the FSO – a converted shuttle tanker Nordic Brasilia - and the Voyageur Spirit FPSO, along with their associated equipment.The contract for the redeployment of the FPSO and the FSO was secured by Altera back in October 2023.Voyageur Spirit is a cylindrical-shaped FPSO…

18 Jan 2024

Saudi Arabia Unveils Oil Platform-Inspired Adventure Tourism Rig

THE RIG (Credit: Oil Park Development Company)

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has launched the masterplan for THE RIG – a world-first adventure tourism destination to be built on an offshore platform in the Arabian Gulf.The vision for THE RIG project is to redefine the sea sports and leisure experience while celebrating the legacy of Saudi Arabia's rich oil and gas heritage.The project will be developed by PIF’s subsidiary the Oil Park Development Company (OPDC), under its CEO Raed N.

09 Jan 2024

US Trade Deficit Shrinks on Falling Imports

© sheilaf2002 / Adobe Stock

The U.S. trade deficit unexpectedly narrowed in November as imports of consumer goods fell to a one-year low amid slowing domestic demand, a trend that, if it persists in December, could result in trade having no impact on economic growth in the fourth quarter.The report from the Commerce Department on Tuesday also showed exports declined in November amid cooling demand overseas. Demand is slowing both in the United States and abroad following hefty interest rate increases by global central banks since 2022 to tackle rampant inflation.The Federal Reserve's rate hiking cycle has likely ended…

17 Dec 2023

C-NLOPB Updates Hebron Field Volume Estimate

Source: Hebron Project

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has approved the Development Plan Amendment (DPA) for the Hebron Field.The Hebron oil field is located offshore Newfoundland and Labrador, Canada, in the Jeanne d'Arc Basin 340 kilometers southeast of St. John's. The field was first discovered in 1980, and is estimated to produce more than 700 million barrels of recoverable resources. The water depth at the Hebron field is 93 meters.The approval enables ExxonMobil and…

07 Dec 2023

Hornbeck Offshore Discloses Revenue Growth in Its IPO Paperwork

(File photo: Hornbeck Offshore)

Marine transportation services provider Hornbeck Offshore on Thursday made public its paperwork for a stock market listing in New York, which showed its revenue rose in the three months ended September.The listing will test the appetite for another stock flotation at a time when green shoots in the U.S. IPO market have been overshadowed by the poor post-debut performances of some high-profile firms that listed recently.Hornbeck intends to list its shares on the New York Stock…

04 Dec 2023

Marine News' Top Vessels of 2023

Empire State (Photo: MARAD)

The November edition of Marine News magazine highlighted a selection of the most notable American newbuilds delivered of 2023—from a first-of-its-kind green towboat, to the lead vessel in a series of game-changing ships to train U.S. mariners.Empire StateAs the lead vessel in a series of five new training ships being constructed to serve America's state maritime academies, Empire State is easily one of the most important U.S.-built vessels delivered in recent memory.Built by Philly Shipyard for the U.S.

29 Nov 2023

Equinor Sells Nigerian Business to Chappal Energies

Source: Equinor

Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% ownership in oil and gas lease OML 128, including the unitised 20.21% stake in the Agbami oil field, operated by Chevron.Equinor has been present in Nigeria since 1992 and has played a significant role in developing Nigeria’s largest deep-water field, Agbami. Since production started in 2008, the Agbami field has produced more than 1 billion barrels of oil…

14 Nov 2023

KOTUG Bolsters Guyana Fleet with Three Offshore Terminal Tugs

Credit: Kotug

KOTUG said Tuesday it had, via its Guyanese subsidiary KOTUG Guyana strengthened its position in Guyana with the arrival of three additional Offshore Terminal Tugs to support ExxonMobil Guyana’s offshore operations.With the arrival of KOTUG-owned ‘SD Grace’, ‘Seaways 20’ and ‘Seaways 22’, KOTUG will operate a total of five offshore terminal tugs in Guyana.The vessels predominantly provide support (“tanker lifting operations”) to the large crude oil tankers that are loading crude oil from ExxonMobil's producing FPSOs in the Stabroek field…

10 Oct 2023

Hornbeck Offshore Services to Complete Ultra-High-Spec MPSVs After Legal Settlement

Credit: Hornbeck Offshore Services

U.S.-based offshore vessel operator Hornbeck Offshore Services confirmed Monday it had reached a final settlement agreement with the surety (the “Surety”) for two Multi-Purpose Support Vessels (MPSVs) that had been under construction at Gulf Island Shipyards.Gulf Island Shipyards (GIS) sued Hornbeck Offshore in 2018 over what it said was the wrongful termination of two shipyard construction contracts for the final two vessels in the company's fifth offshore support vessel (OSV)…

05 Oct 2023

Japanese Shipping Giant Buys Into Norwegian Floating Wind Firm

Credit: Odfjell OceanWind

Japanese shipping giant Mitsui O.S.K. Lines, Ltd. (MOL) has, following a recent private placement, become a shareholder in Odfjell Oceanwind, a Norwegian floating wind technology developer."The transaction generates significant capital which will be used to further strengthening Odfjell Oceanwind’s position as a global leader and frontrunner in floating offshore wind technologies. Odfjell Technology Ltd. combined with the Odfjell family’s direct investment will remain the largest shareholder in the company…

11 Oct 2023

Eni to Deploy Cylindrical FPSO, Converted FSO at Giant Offshore Oil Field in Ivory Coast

Altera Infrastructure has been awarded contracts for the redeployment of the FPSO Voyageur Spirit and the shuttle tanker Nordic Brasilia for the Baleine Phase 2 project, located offshore Ivory Coast.The vessels are set for deployment on the Baleine field with a 15-year firm contract. The development of the project will be on a fast-track schedule, with a planned start-up date for Phase 2 in the fourth quarter of 2024. The vessels, Voyageur Spirit and Nordic Brasilia, are currently undergoing life extension work and field-specific modifications at Drydocks World in Dubai. Voyageur Spirit is a cylindrical-shaped FPSO, that previously operated on the Huntington field in the North Sea until 2020.

25 Aug 2023

Kirby Christens the US' First Plug-in Hybrid Electric Inland Towboat

Kirby Inland Marine's Green Diamond—the United States' first plug-in hybrid electric inland towboat—was christened on August 25, 2023 in Houston. (Photo: Corvus Energy)

The United States' first plug-in hybrid electric inland towing vessel was christened at a ceremony in Houston on Friday as the commercial marine industry continues to implement new technologies to reduce its environmental footprint.Kirby Inland Marine's Green Diamond will be time chartered by Shell Trading (US) Company, which will use the vessel to push barges throughout the Houston port region. According to Kirby, the vessel can achieve an estimated 80% reduction in fuel use and related emissions.“We are excited to be the first to market with a plug-in hybrid inland towing vessel…

13 Jul 2023

Hornbeck Offshore Eyes U.S. Offshore Wind Work with OSV-to-SOV Conversion Project

Credit: Hornbeck Offshore Services

U.S. offshore vessel owner Hornbeck Offshore Services, best known for its offshore oil and gas support vessel services, is looking at business opportunities in the growing U.S. offshore wind sector as well as in offshore accommodation services in the oil and gas area.For that, Covington, La. based Hornbeck Offshore said Wednesday it had contracted Eastern Shipbuilding Group to convert one of its recently acquired 280-foot offshore supply vessels (OSV) to a service operation vessel (SOV) to meet the growing demand of the U.S.

21 Jun 2023

Offshore Oil Spending to Rise More Than 20% This Year

© JT Jeeraphun / Adobe Stock

Offshore oil and gas exploration spending will increase more than 20% globally this year and the growth will continue into the next, oilfield services firm SLB said on Wednesday."Offshore is experiencing a renaissance, with significant breadth and anticipated durability," SLB Chief Executive Olivier Le Peuch said at the JP Morgan Energy Power and Renewable Conference, according to a draft of the speech posted on the company's website.SLB, the world's largest oil services and equipment provider, said it expects to see a long tail of activity with 65 lease rounds concluding globally this year, i

15 Jun 2023

Pilot Energy and KNCC Partner to Store CO2 Offshore Australia

Image of liquefied CO2 carrier utilising the innovative LCO2-EP technology and offshore bow offloading system - Credit: Pilot/KNCC

Australian oil and gas company Pilot Energy and Norway's Knutsen NYK Carbon Carriers (KNCC) have entered into a memorandum of understanding to collaborate on offering an integrated solution for marine transportation and offshore injection of CO2 at the Cliff Head CCS Project, offshore the coast of Perth, Australia.Pilot and KNCC plan to develop solutions that will enable large-scale industrial emitters to transport via ship, ambient temperature LCO2 and to inject and permanently…

12 Jun 2023

Indigenous Protesters in Peru's Amazon Release Captured Oil Tankers

© Omar / Adobe Stock

Indigenous protesters in the Peruvian Amazon have released two oil tankers and their crew members being held since last week in protest over changes to a development fund, a source at the company operating the vessels, PetroTal, said on Monday.The firm's marine shipments in the area also resumed earlier on Monday, the source added.The two ships were hijacked on Tuesday, one with 40,000 barrels of crude aboard. The release occurred on Saturday after a meeting between the Indigenous group's leaders and local authorities…

11 Apr 2023

Gallery: Third FPSO Arrives in Guyana's Stabroek Block

FPSO Prosperity - ©SBM Offshore

Dutch FPSO specialist SBM Offshore on Tuesday announced the arrival of the FPSO Prosperity at the Stabroek Block offshore Guyana.The FPSO traveled just over 11,000 nautical miles – or just over 20,000 kilometers - from Singapore to Guyana in just under 50 days.On track for first oil later this year, Prosperity becomes Guyana’s third FPSO, joining two other SBM Offshore-delivered FPSOs, the Liza Destiny and Liza Unity.The FPSO will be spread moored in water depth of about 1,900 meters and is designed to produce 220…

27 Mar 2023

Hydra Service Sold to Local Investment Group

Image courtesy Hydra Service

Hydra Service, manufacturer of Dynapower pumps, motors and turbine starters, announced it has been purchased by a local manufacturing investment group led by Mick Webber. According to the company, the new ownership and existing management are committed to servicing and replacing old equipment, developing new products, opening channels to market, and attracting different customer segments.“When I started Hydra Service in 1981, we were a four-man shop that primarily serviced oilfield equipment,” said former owner Rick Bentley.

21 Mar 2023

Valeura Energy Completes Modification of MT Jaka Tarub Vessel for Wassana Offshore Oil Field

Oil and gas company Valeura Energy said Monday that modifications to the MT Jaka Tarub crude oil storage vessel were complete, making the vessel compatible with infrastructure at its Wassana oil field, offshore Thailand.According to Valeura Energy, the vessel is capable of tandem crude oil loading/offloading. "Subject to favorable metocean conditions, the vessel will arrive at the Wassana field in the coming days, after which Valeura intends to resume oil production operations, targeting initial rates of up to 3,000 bbls/d, net to the 89% working interest share held by its subsidiary company Valeura Energy Asia Pte. Ltd." the company said.As reported by Offshore Engineer in December 2022…

20 Mar 2023

Chevron Suspends Production at Thai Oil Field after Fatal Accident

©Thai Navy

Production at the Benchamas oil field in the Gulf of Thailand was suspended immediately after an accident last week and remains offline, U.S. oil giant Chevron Corp said in a statement on Monday.The announcement comes after an accident last week at an oil storage vessel caused seawater to leak into the vessel's hull, killing one crew member."We have recovered the body of our colleague who was fatally injured on March 13," a Chevron spokesperson said in a separate statement, adding that preparations were being made to return the body to the victim's family.

28 Feb 2023

Yinson Bags $5.3B Deal for its First FPSO Project in Angola

Illustration only - ©Ranimiro/AdobeStock

Malaysian company Yinson has secured a firm contract to provide and maintain an FPSO for Azule Energy, a BP-Eni joint venture, in Angola.The contract, awarded by Eni Angola, is for the provision of the FPSO for the  Agogo Integrated West Hub Development Project in Angola (“FPSO Agogo”).According to Yinson, the contract is worth about $5.3 billion in total and has a firm period of 15 years from the date of the final FPSO's acceptance. Azule Energy will have the option to extend for another five years. The FPSO Agogo is expected to start operations in the fourth quarter of 2025.

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