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The Offshore Frontier

Subsea 7 awarded contract offshore UK

Subsea 7 has announced the award of a contract by Shell for the Shearwater Fulmar Gas Line (FGL) Re-Plumb Project, located approximately 140 miles east of Aberdeen. The engineering, procurement, construction and installation (EPCI) project workscope incorporates a 37 km 24 in. export line, a 14 in. rigid riser, control jumper, subsea structures and associated subsea tie-ins. Project management, engineering and procurement work has already commenced in Aberdeen, with support from Subsea 7’s office in Glasgow, both in the UK. Offshore activities are scheduled for 2019. “For many years Subsea 7 has been chosen by Shell to provide engineering and project execution expertise in the North Sea,” Jonathan Tame, Vice President UK & Canada, said. “This latest award further demonstrates our ...

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US Gulf of Mexico poised for historic year in 2019

Next year is shaping up to be a good one in the US Gulf of Mexico, with the first increase in drilling in four years, first-ever production from a Jurassic play, key new project sanctions and an uptick in M&A all in the cards, according to global natural resources consultancy Wood Mackenzie (WoodMac).  “We expect 2019 to be a strong year for the Gulf of Mexico. In addition to exciting new project sanctions, which could usher in more than $10 billion of investment into the region, a couple of historic firsts set to occur next year could set the stage for years to come,” William Turner, Senior Research Analyst at Wood Mackenzie, said.  In its annual outlook, US Gulf of Mexico: ...

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CNOOC signs strategic cooperation agreements with nine international oil companies

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed strategic cooperation agreements with nine international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL. According to the agreements, the strategic cooperation areas are located in the Pearl River Mouth Basin offshore China, including Area A and Area B (existing mining license areas and the contract areas are not included). Area A is approximately 15,300 sq. km, with a water depth of 80-120 m and only open for the deep layers below Enping Formation of Paleogene. Area B is approximately 48,700 sq. km, with a water depth of 500-3,000 m and open for all the layers. The agreements will facilitate the establishment of a long-term and stable cooperation and share the development opportunities to a certain extent ...

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Rystad Energy: Strong outlook for offshore

The outlook for offshore oilfield service contractors is strong. More than 100 new projects are aiming for 2019 sanctions. An expected $210 billion will be spent on offshore oilfield services globally next year, according to Rystad Energy’s latest project sanctioning report. Offshore contractors have experienced four consecutive years of declining revenues, but those still standing can expect revenues to start growing again next year. “The offshore service market is like a super tanker: It takes time to accelerate,” Audun Martinsen, Head of Oilfield Service Research at Rystad Energy, said. “The uptick in new projects in 2017, 2018 and now 2019 will be enough to turn revenue growth positive to mid-single digits as offshore capex is set to increase due to ...

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Rowan wins contract with CGX Resources for Ralph Coffman jackup

Rowan has announced that the Ralph Coffman, a 240-C Class harsh-environment jackup rig, has been awarded a one-well contract from CGX Resources in Guyana for an estimated duration of 60 days. The contract is expected to commence in Q2 2019.  The Ralph Coffman is currently under contract with GulfSlope Energy in the US Gulf of Mexico through its current well, which is estimated to conclude mid-January 2019.

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Aasta Hansteen onstream

On 16 December Equinor and its partners started production from the Aasta Hansteen gas field in the Norwegian Sea. On 17 December gas from the Aasta Hansteen field became available to the market for the first time and together with the Polarled pipeline the field opens a new region for gas export to Europe. “Aasta Hansteen is a pioneer. Located in 1,300 m of water, this is the deepest field development on the Norwegian continental shelf (NCS), the largest spar platform in the world, and a first on the NCS. The field now coming onstream is unique,” Anders Opedal, Equinor’s Executive Vice President for Technology, Projects and Drilling, said. The field development concept consists of a floating platform with a vertical cylindrical substructure ...

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ADES secures seven-year contract for Admarine 657 in Saudi Arabia

ADES has successfully renewed an existing contract for the Admarine 657, an ultra-shallow offshore rig previously acquired in June 2018. The renewal for the rig, which is currently contracted and operating in Saudi Arabia, is effective after the expiration of its existing contract in Q1 2019. The renewal term is for seven years, including a two-year option, and is expected to add up to $150 million of backlog, with the dayrate broadly in line with the existing contract. “We are delighted to have extended the contract for Admarine 657 with this important and valued customer,” Dr Mohamed Farouk, Chief Executive Officer of ADES International Holding, said. “We now have a long-term contracted visibility, underlining our ability to consistently sustain our backlog due to our customer-centric approach ...

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ExxonMobil makes final investment decision to develop West Barracouta Gas Project

ExxonMobil has stated that it has made a final investment decision to develop the West Barracouta gas field in Bass Strait to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin. The company recently completed front-end engineering design work for the project, which is part of the Esso-BHP Gippsland Basin Joint Venture, and awarded contracts to Subsea 7 and OneSubsea, a Schlumberger company. The project will be tied back to the existing Barracouta infrastructure offshore in Bass Strait, the first offshore field ever discovered in Australia. “We continue to use advanced technology, along with our extensive, decades-long understanding of the Gippsland ...

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AFGlobal and MHWirth sign distribution agreement

AFGlobal and MHWirth have entered into a distribution agreement, providing the managed pressure drilling market with a comprehensive package for deepwater rig systems. This non-exclusive agreement enables MHWirth to offer AFGlobal MPD equipment for sale within their rig equipment business. As a leader in drilling rig systems, MHWirth can now offer the industry’s most comprehensive MPD kit as part of their new build and retrofit packages. “Our shared purpose in this arrangement is to provide clients with optimal quality and efficiency in the offshore drilling environment,” Roy A. Dyrseth, Chief Commercial Officer of MHWirth, said. “We are pleased to partner with MHWirth to provide next-generation systems and market-leading manufacturing capabilities in both MPD equipment and rig systems to the offshore ...

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French Guyana: Total commits to carry out its exploration campaign with transparency

Total is ready to start its exploration campaign on the Guyane Maritime license, located 150 km off the French Guyana coast, in the days following the arrival of the drilling ship on site, as authorized by the prefectoral decree dated 22 October 2018. Conscious of the questions that this campaign could raise, Total wishes to highlight that it is a responsible company that conducts operations while constantly seeking to minimize the environmental risk and is determined to act with transparency. As such, Total commits to the following: Total obviously does not conduct drilling operations in coral reefs The closest reef identified is located 30 km from the drilling point and is not coral. According to the scientists who carried out a 50-day ...

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