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Johan Sverdrup Phase 2 development decision agreed by partnership

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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 ...

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Keppel signs Heads of Agreement with Borr Drilling for Transocean Rigs

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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 ...

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Chris Ong named CEO of Keppel O&M

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After 36 years of service with the company, Chow Yew Yuen, CEO of Keppel Offshore & Marine Ltd (Keppel O&M), will retire on 31 March 2017. Chris Ong, Managing Director of Keppel FELS Limited, was appointed Acting CEO, beginning 1 April 2017. Loh Chin Hua, CEO of Keppel Corporation and Chairman of Keppel O&M, said, “Chris is part of the talent pool that we have been nurturing for leadership succession at Keppel O&M. He has been with the Keppel Group for 17 years, and has contributed significantly to building Keppel FELS into the global leader in the offshore business that it is today. On behalf of the Board of Keppel O&M, I welcome Chris into his new role. I am ...

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$11.6 billion budget requested for US Department of Interior

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US Secretary of the Interior Ryan Zinke has announced President Donald Trump’s $11.6 billion Fiscal Year (FY) 2018 budget blueprint request for the Department of the Interior (DOI). The budget meets the department’s core mission while also saving taxpayers $1.5 billion, or 12% reduction, from the FY 2017 Annualized Continuing Resolution level, according to the DOI. The president’s budget blueprint prioritizes strengthening America’s energy security by increasing funding for programs that support responsible development of oil, natural gas, coal and renewable energy on public lands and offshore waters. The blueprint also sustains funding for the DOI’s collection and disbursement of roughly $10 billion annually for mineral development, an important source of revenue to the Treasury, states and Indian mineral owners. ...

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Lyndol Dew named Chairman of Well Control Institute

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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 ...

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Gender diversity session focuses on setting inclusion goals, moving from talk to action

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Women have traditionally been underrepresented in the oil and gas industry, but many companies and individuals are now working to change that. Increasing the number of women in the industry’s workforce starts with attracting and hiring women into the industry. However, the industry often does a poor job of selling itself and its benefits to women, said Katie Mehnert, Founder and CEO of Pink Petro, an organization that aims to increase gender diversity in the oil and gas industry. Ms Mehnert participated in a panel session on gender diversity at the 2017 SPE/IADC Drilling Conference in The Hague, The Netherlands, on 15 March. In this video from the conference, she explains some of the barriers women still face in the ...

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

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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 ...

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