Premier Oil News

Norwegian offshore vessel owner Solstad Offshore has secured a one-year contract for its platform supply vessel Normand Flipper.Solstad Offshore said that the contract, starting in December 2021, is for work in the UK North Sea. It did not say who the client was.The 2003-built Normand Flipper was mentioned on OEDigital.com in February 2020, when Solstad Premier Oil chartered the PSV to support its Tolmount field operations in the UK sector of the North Sea.Also, Solstad Offshore said Friday it had Sold its  AHTS Far Scout…

Brasco, a part of the Brazil's provider of integrated port and maritime logistics and supply chain solutions Wilson Sons Group company, has partnered with APM Terminals Pecém to set up a temporary logistics base at the Pecém Industrial and Port Complex.It will be the first offshore port support operation to take place in Ceará, said a press note from APM Terminals, an international container terminal operating company headquartered in The Hague, Netherlands.Scheduled to start in the first half of 2020, the logistics base will support the drilling of a well in block CE-M-717, located in the Ceará Basin and operated by Premier Oil, the British oil company.Among the services to be provided are cargo receiving and storage…

For Marine Technology Reporter's (MTR) 14th Annual "MTR100" - a look at 100 innovators and technologies in the subsea space - MTR editor-at-large Elaine Maslin reports on five companies and technologies that are worth the watch for the remainder of 2019 and beyond. For the full edition, see https://magazines.marinelink.com/nwm/MarineTechnology/201907/Blue Logic: Entering a new eraCompletely new modes of operation are entering the underwater domain for oil and gas operations and…

Aberdeen, UK-based Verus Petroleum has secured a 12-fold increase in its production – from 1,500 to 18,000 barrels per day in less than a year – with the closing of three recent acquisitions on the UK Continental Shelf.A press release from the petroleum exploration and production services provider said that it  has recently completed three significant acquisitions; an interest in the Babbage gas field acquired from Premier Oil on 6th December, on the back of completing transactions to acquire Cieco Exploration & Production (UK) Limited and Equinor’s Alba field interest in November.The private equity backed independent operator said that these three deals, each with an economic date of 1st January 2018, were funded by a combination of equity, existing cash reserves and debt.

Mexican state oil firm Pemex has reached a preliminary agreement with a consortium led by Talos Energy to evaluate whether the group's find in the Gulf of Mexico extends into a neighboring Pemex block, the companies said in a statement on Thursday.The deal, which covers territory in the shallow waters of the Gulf of Mexico, is the first of its kind for Pemex and will be in force for two years.The Talos consortium, which includes Britain's Premier Oil and Mexico's Sierra Oil & Gas, won development rights for two blocks during the first oil auction launched by President Enrique Pena Nieto.

Teekay Offshore Partners reported fourth quarter revenue at USD 295.7mln versus USD 274.9mln year ago, registering a growth of +7.6% YoY basis. “During the fourth quarter of 2017, we generated higher cash flow from vessel operations driven mainly by the delivery and contract start-up of two of our growth projects combined with lower G&A expenses," commented Ingvild Sæther, President and CEO of Teekay Offshore Group Ltd. “Recently, we finalized an agreement and are nearing completion of a second agreement in our FPSO segment which will extend the contract durations with existing customers on existing fields. We are pleased to report that we have entered into an agreement with Petrobras to extend the employment on the Ostras FPSO from January 2018 to May 2018…

BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017. BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract, with extension options of up to 18 years. The Catcher field partnership is made up of Premier Oil (50%), Cairn Energy (20%), MOL Group (20%) and Dyas (10%).

Premier Oil’s Catcher project remains on pace to achieve first oil before the end of this year with the arrival and hook up of the Floating Production Storage and Offloading (FPSO) vessel BW Catcher last week in the U.K. North Sea. BW Catcher arrived at the Catcher field on October 18, and the hook up of the Submerged Turret Production (STP) buoy mooring system was completed on October 19 with the vessel completing a rotation test around the buoy on October 20, Premier Oil said. Final pull-in of the risers and umbilicals is underway, and commissioning activities have commenced in parallel.

Dutch provider of offshore support vessels Vroon has entered into a five-year charter plus options with Premier Oil for one of its emergency response and rescue vessels (ERRV). "We are pleased to announce that VOS Famous has entered into a five-year charter (plus options) with Premier Oil, following a competitive tender. This is to attend their newly arriving Catcher FPSO (Floating Production, Storage and Offloading)," said a press statement from the company. This builds on a steadfast partnership built up over a number of years on a number of vessels. What is hugely encouraging is Premier Oil’s pro-active approach and drive to explore enhanced recovery technology and invest in modern, state-of-the-art tonnage.

BW Offshore’s Floating, Production, Storage and Offloading vessel (FPSO) BW Catcher has left deep water anchorage off the Keppel Shipyard in Singapore and is currently in transit on a 45-day journey to the Catcher field in the central North Sea where it will go to work for Premier Oil. The FPSO is expected to reach U.K. waters early in the fourth quarter, depending on prevailing weather conditions. Upon its arrival, BW Catcher will commence a seven-year fixed term contract, with extension options of up to 18 years, with Premier Oil. Carl K. Arnet, CEO of BW Offshore, said, “The BW Catcher has been completed on time and within budget, and we are especially pleased with the good HSE performance during the construction project.

BW Offshore, a leading global provider of floating production services to the oil and gas industry, announced the sail away of the FPSO BW Catcher. The vessel has left Keppel Shipyard in Singapore and is currently in transit to the Catcher field in the central North Sea. BW Catcher is expected to reach UK waters early in the fourth quarter, depending on prevailing weather conditions. Upon its arrival, BW Catcher will commence a seven-year fixed term contract, with extension options of up to 18 years, with Premier Oil. Based on a field life of 10 years, the contract value is USD 2.3 billion including FPSO charter rate and opex. "The BW Catcher has been completed on time and within budget, and we are especially pleased with the good HSE performance during the construction project.

Keppel Shipyard Ltd (Keppel Shipyard), is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to BW Catcher Limited, a wholly-owned subsidiary of BW Offshore. When completed BW Catcher will be on a 7-year fixed term and 18 years of options contract with Premier Oil and will be deployed to the Catcher Field located in Central North Sea, UK. Keppel Shipyard's work scope on the FPSO include the installation and integration of topside modules. BW Catcher is scheduled for sailaway from the shipyard in the next few months and is on track to achieve its first oil in 2017. "Having worked together on 11 other projects previously, Keppel has proven to be a reliable partner," said Carl Arnet, CEO, BW Offshore.

Since 2004, well construction costs in the UK Continental Shelf (UKCS) have doubled, directly impacting drilling activity which is currently at an all-time low. However, collective industry efforts are already focusing in on how a reduction in core drilling costs of 50 per cent could potentially unlock around five billion boe of known reserves over the next decade. The significant work the industry is doing through the Technology Leadership Board (TLB) to address the well cost reduction challenge, will feature in a forthcoming event organized by the Society of Petroleum Engineers (SPE) Aberdeen section on September 21 at Aberdeen’s Douglas Hotel.

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) has secured four contracts worth a total of about S$120 million from repeat customers. Mr Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said, "We are pleased to secure new orders from long-time customers who continue to entrust their projects with us, whether it is for turret fabrication or vessel upgrades. The first contract that Keppel Shipyard secured is from BW Catcher Limited, a wholly owned subsidiary of BW Offshore, for the installation and integration of topside modules for a newbuild Floating Production Storage and Offloading (FPSO) vessel.

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced  that two of its drilling contracts have been terminated. The Nasdaq-listed drilling affiliate of DryShips said that Total E&P Congo has terminated its long-term charter of the ultra-deepwater drillship Ocean Rig Apollo, which is currently deployed in Congo and will be demobilised “in due course”. As per the contract Ocean Rig is entitled to a termination fee that varies from 50% to 95% of the operating daily rate that will be payable over the balance of the contract. The Ocean Rig Apollo will demobilize from Congo in due course and is available for alternative employment.

Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, cancelled a joint venture contract with Ocean Rig UDW. In June 2014, the companies entered into a contract with Ocean Rig for the provision of the Eirik Raude for an exploration drilling campaign in the Falkland Islands. However, following a number of material "operational issues" with the rig, Premier and Noble Energy issued a termination notice to Ocean Rig on Thursday, terminating the contract with immediate effect. "As a result, Premier will no longer be drilling the Chatham exploration well during the current campaign.

SBM Offshore announced it has been awarded a front-end engineering and design (FEED) contract from Premier Oil plc for an FPSO for Phase 1 of its Sea Lion development in the North Falkland Basin. The 18-month contract awarded to SBM Offshore covers the FEED elements of the proposed FPSO. The asset will be a converted FPSO with a throughput capacity of approximately 85,000 barrels per day and will operate in 450 meters of water. The proposed Phase 1 Sea Lion project, operated by Premier with Rockhopper Exploration plc as the JV partner, is located 220 kilometers north of the Falkland Islands. This first phase is subject to final investment decision targeted for the end of the FEED in the second half of 2017.

SBM Offshore informed that Premier Oil plc (Premier) has awarded the Company the Front-End Engineering and Design (FEED) contract for an FPSO for Phase 1 of its Sea Lion development in the North Falkland Basin. The 18-month contract awarded to SBM Offshore covers the FEED elements of the proposed FPSO. The asset will be a converted FPSO with a throughput capacity of approximately 85,000 barrels per day and will operate in 450 meters of water. The proposed Phase 1 Sea Lion project, operated by Premier with Rockhopper Exploration plc as the JV partner, is located 220 kilometers north of the Falkland Islands. This first phase is subject to final investment decision targeted for the end of the FEED in the second half of 2017.

Cathelco have won orders to supply hull corrosion protection systems for three FPSOs. Two of the systems are being supplied to MODEC, while the third will be installed by Sembcorp Marine’s Jurong yard in Singapore. The FPSO Cidade de Campos dos Goyatacazes is being built by MODEC for deployment off Brazil by Petronas. It will be capable of processing 150,000 barrels of crude oil per day, 176 million cubic feet of gas, and have a storage capacity of 1.6 million barrels. Due for delivery in late 2017, it will be positioned in the Campos Basin, 125 kilometers from Macae.

Oil explorers drilling in the waters north of the Falkland Islands have suspended work on the second well of their 2015 current six-well drilling campaign after a technical problem. Operator Premier Oil has suspended operations on the 4/20-1 (Isobel Deep) well, following a problem detected on the drilling rig blowout preventer, BOP, according to partner Falkland Oil and Gas Ltd. Ocean Rig semisubmersible Eirik Raude is performing the drilling program. The company says that the rig, completed in 2002, is equipped for drilling operations in water depths from 500 to 2,500 meters. FOGL said that the problem was detected after the 13⅜-in. casing was set, performed at a water depth of 1,274m, located on license PL004a. The well was spud on April 8, after success in the first well Zebedee.

Teekay LNG Partners L.P. announced changes to Teekay LNG’s board of directors. Jane Hinkley has been appointed to the chairmanship position succeeding C. Sean Day, who will remain a director of Teekay LNG and chairman of the partnership’s sponsor, Teekay Corporation. Hinkley has been a director of Teekay LNG for over 10 years and has management and board experience in the shipping and oil and gas industry, including serving as the managing director of Navion Shipping AS, and chief financial officer and managing director of Gotaas-Larsen Shipping Corporation, and currently serves on the board of directors of Premier Oil plc and Vesuvius plc.

Motion compensated access solutions developer Ampelmann informs it  will provide one of its offshore access solutions to enable ‘walk to work’ for a commissioning campaign on Premier Oil’s Solan field, West of Shetland. The Ampelmann system enables the safe and effective transfer of the workforce in one of the world’s most challenging offshore locations. To meet the demands of working offshore West of Shetland, the multipurpose service vessel the Siem Spearfish is being fitted with an Ampelmann E-type system.

Mexico auctioned only two of 14 blocks in a pivotal oil and gas tender on Wednesday, falling far short of the government's modest expectations as it begins to open up the long-nationalized industry to private investment. Both the shallow water exploration and production contracts were awarded to the same consortium made up of Mexico's Sierra Oil & Gas, U.S. firm Talos Energy and Britain's Premier Oil. The other 12 blocks received no bids, or none that cleared the bar set by Mexico's finance ministry. All told, it was an inauspicious start to the rollout of President Enrique Pena Nieto's signature economic reform. In the second block up for grabs, the consortium offered 55.99 percent of pre-tax profits to the state, plus a 10 percent additional work program commitment.