DOF Secures 3-year Contract for Skandi Vega AHTS
Norway-based offshore vessel owner DOF has secured a three-year contract for its anchor handling tug supply vessel (AHTS) Skandi Vega with the current charterer Equinor.The contract, which includes two one-year options, will start in direct continuation of the current contract. "Skandi Vega is one of the largest AHTS vessels in the world and has been operating for Equinor since delivery in 2010. DOF is delighted to continue the long-term partnership with Equinor, and the new contract is proof of the value the vessel and its crew bring to this partnership," DOF said.According to the vessel's AIS, the Skandi Vega is currently in the Norwegian North Sea…
McDermott's Amazon Vessel to Install Pipelines at Shell's Whale Project
Offshore installation firm McDermott said Monday that its upgraded Amazon vessel was coming to the Gulf of Mexico to support a subsea contract for the Whale Development in Alaminos Canyon.Oil major Shell in July reached a final investment decision for its Whale deepwater field development. Discovered in 2017, Whale will feature a semi-submersible production host in more than 8,600 feet (2621 meters) of water with 15 oil-producing wells.McDermott will provide engineering, procurement…
Rates Slowdown in Permian Basin
Though the Permian Basin still dominates US land drilling, the pace of growth in this region has slowed significantly.Older tight oil wells decline by 20% per year without material intervention, according to Rystad Energy.Contrary to common belief, the Permian Basin systematically offers the lowest oil decline rates, along with the Bakken Shale.In turn, the Eagle Ford and DJ basins exhibit steeper decline rates throughout the first eight years of production across most vintages.Rystad Energy has examined all horizontal oil-producing wells in the Bakken, Eagle Ford, Permian and DJ Basins, turned-in-line between 2011 and 2017 with at least 24 months of reported production.The resulting sample includes 146,158 annualized production data points from 46,188 wells.
New FPSO Heading for Station Offshore Brazil
Petrobas's FPSO P-63 has left the Quip/Honório Bicalho shipyard in the city of Rio Grande (RS) after the modules were integrated and the platform commissioned. With a capacity to process 140,000 barrels of oil/day and compress one million m3 of gas /day, the unit is going to the Papa-Terra field in the post-salt Campos Basin, operated by Petrobras (62.5%) in partnership with Chevron (37.5%). The P-63 was converted into an FPSO from the tanker BW Nisa, at the Cosco Shipyard in China. The unit arrived in Brazil in January this year for its final construction stages. Altogether 23 process plant modules were installed and interconnected.
