Home / Microsites (page 3)

Microsites

Gulf of Mexico lease sale yields $275 million in high bids on 913,542 acres in central planning area

default-img-featured-deepwater

US Secretary of the Interior Ryan Zinke has announced that Lease Sale 247 for oil and gas parcels in the Gulf of Mexico garnered $274,797,434 in high bids for 163 tracts covering 913,542 acres in the Central Planning Area of the Outer Continental Shelf (OCS) offshore Louisiana, Mississippi, and Alabama...

Read More »

Johan Sverdrup Phase 2 development decision agreed by partnership

johansverdrupphase2

Maersk Oil and partners in the Statoil-operated Johan Sverdrup development have agreed to proceed with the front end engineering design (FEED) for Phase 2 of the giant, world-class Norwegian project. The investment decision and submission of the plan for development and operation of Phase 2 is expected in the second half of 2018. Phase 2 is scheduled to come on stream in 2022. Phase 1 of Johan Sverdrup is under development, with first oil scheduled for late 2019. Phase 1 of the development establishes a field center consisting of four platforms on the field. Phase 2 builds on this infrastructure, adding another processing platform to the field center. Overall this will result in an increase in processing capacity from 440,000 ...

Read More »

Keppel signs Heads of Agreement with Borr Drilling for Transocean Rigs

default-img-featured-offshore5

Five jackup rigs currently being built by Keppel FELS Limited (Keppel FELS) for Transocean will be novated to Borr Drilling Limited of Bermuda (Borr Drilling), due to a recently signed Heads of Agreement. The transaction between Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), and Borr Drilling was approved by Transocean, and is subject to all three parties executing definitive agreements and satisfying formal closing conditions. The transaction is expected to be completed by the end of May 2017. In 2013, Transocean ordered five KFELS Super B Class jackup rigs from Keppel FELS for US $1.1 billion, and made a 20% down payment. Under the new agreement, Borr Drilling will take over the contracts and ...

Read More »

Lyndol Dew named Chairman of Well Control Institute

lyndol-thumbnail

Lyndol Dew of Diamond Offshore Drilling has been named as the new Chairman of the Well Control Institute (WCI). Mr Dew was confirmed as Chairman at the IADC Executive Committee meeting on 16 March in The Hague, The Netherlands. Mr Dew is Senior Vice President of Special Projects and Strategic Initiatives for Diamond Offshore. He graduated from Florida State University in 1976 and received his Master of Engineering from Tulane University in 1982. Mr Dew served in the US Navy as a Surface Warfare Officer for six years. He has subsequently worked in various domestic and international positions for Diamond Offshore, on rigs and shore-based, for the past 32 years. Mr Dew is a Charter member of the Board of ...

Read More »

Jørn Madsen: Industry must embrace collaboration, automation to compete with other energy sources

de17-madsen-thumbnail

By Kelli Ainsworth, Associate Editor In a cyclical industry like oil and gas, downturns are an unfortunate reality. When downturns hit, the industry always works to cut costs, but they inevitably rise again in the next upturn. However, this cycle may prove different, Jørn Madsen, CEO of Maersk Drilling, said in the plenary session at the 2017 SPE/IADC Drilling Conference in The Hague, The Netherlands, on 15 March. “I think we’re facing a new reality,” he said. “We will not just be competing against each other. We will be competing against other energy forms like solar and wind, and that means that the oil industry, if we don’t change, will lose and lose fast.” Increased collaboration and automation could help ...

Read More »