Petrofac Secures Well Management Contract for IOG Core Project Phase 1
Petrofac’s well management contract comes nearly a month after IOG received approval for phase 1. The contract also follows an EPC contract awarded to Subsea 7 in May.
Future of Suncor Terra Nova FPSO Remains Uncertain After Fire
The fire at the Terra Nova FPSO comes 6 months after C-NLOPB found Suncor noncompliant with regulatory requirements and suspended operations.
Decommissioning Work To See Increased Spending; North Sea Region To Lead the Way
Even before the global pandemic impacted markets, decommissioning work in the North Sea region was expected to increase. One research group estimates global decommissioning projects could reach $42 billion by 2024.
India Looking To Store Oil in the US Petroleum Reserve
India may be the second country to lease space in the US SPR. Capacity at the SPR has been building for the past 5 weeks.
Prudent Ways to Restart Big Projects in Post-Pandemic World
Delays and disruptions have stymied project plans in the past few months. How will companies prevent current stresses from morphing into catastrophic issues?
Eni Launches Revamped Platform for Suppliers
The Italian oil company has redesigned its dedicated portal for suppliers. The company’s Supplier Portal and Collaboration Environment, which it calls eniSpace, is a platform combining communication, collaboration channels, and open innovation instruments with traditional procurement processes.
KBR and NIPI Neftegas Form JV in Kazakhstan
The JV continues KBR’s work history in Kazakhstan. The company has worked on various projects in the country since 1993.
Santos Names Weatherford Contractor of the Year
The oilfield services company's Tubular Running Service was recognized for reducing costs, maximizing safety.
Southern Delaware Basin Water Infrastructure Transaction Terminated
Centennial said in its 10-Q report for Q1 that the economic downturn increased the likelihood that the transaction would fail to close by its original timeline.
Study Finds Most Workers Prefer WFH as Companies Return to Normal From COVID-19
In a survey of 448 workers across the oil and gas industry, UH Energy asked key questions about returning to work during the global pandemic.
The Savvy Separator: A Century of Carry-Over—0.1 gal/MMscf
For as long as anyone can remember, the liquid carry-over separation efficiency of 0.1 gal/MMscf has been ubiquitously specified in separator design. This article provides the most likely scenario of its evolution.
Premier Recasts First Oil for Tolmount, Seeks Acquisition Deal with BP
North Sea system now on track for completion in Q2 2021.
Petrofac to provide maintenance and metering for BP
The two companies worked together in 2019 to improve execution techniques where Petrofac digitalized maintenance and inspection activity.
3D-Printed Concrete Leads Advancements in Offshore Wind Floating Foundations
Wind turbine substructures and anchors made of special concrete would float to a site from an onshore plant.
Wood, NERA Partner on Subsea Inspection Solutions
The AI-driven tool will detect anomalies in subsea oil and gas infrastructure.
Oil Prices Plague Oilfield Water Management Market
Sourcing water, flowback water services threatened as D&Cs decline.
Penspen To Support Slug Catcher Replacement on ADNOC Plant in UAE
Penspen will also carry out engineering services on the Zirku Island plant.
Saipem Wins Contract for Baltic Sea Natural Gas Pipeline
The natural gas pipeline is co-financed by the EU, with work beginning immediately.
Joint Tender Issued for Subsea Power Transmission Network in MENA Region
Proposal requests were sent to companies to solicit partnerships for the project with ADNOC and ADPower.
Shell Divests Appalachia Shale-Gas Assets to National Fuel Gas Co.
The sale of the Appalachia position is in line with Shell’s strategy to focus on its shales strategy.
Logan Delivers Custom A-frame for TechnipFMC’s ROV
The A-frame is DNV certified. TechnipFMC’s ROVs will deploy in GoM later this year.
Global Oversupply of Crude Leads to Scramble for Storage Solutions and Alternatives
No vacancy? The hunt for global alternatives to store crude oil includes offshore, global strategic reserves, pipelines, rail cars, and trucks.
Commercial Crude Stockpiles Nearing Record Levels
The US crude inventory grew by 74 million bbl since 13 March when the US declared a national emergency in response to COVID-19.
Oil and Gas Steelmakers, Pipemakers Announce Cuts
Tubular steelmaker Vallourec is latest to join reductions in workforce.
DNV GL Launches Pilot To Quantify Quality and Integrity of Digital Twins
In partnership with TechnipFMC, DNV GL opened a pilot project for the international collaboration of operators and the supply chain. Many digital twins represent an asset’s initial form and struggle to reflect developments in their physical counterparts as the asset matures.
Shell Postpones FIDs on GoM and North Sea Projects
The deferments are the latest actions Shell has taken in response to record low crude prices.
How To Optimize Tubing Material Selections Using the PREN Value
Material selection is a first line of defense against corrosion. This article reviews how to recognize pitting and crevice corrosion, as well as how to optimize tubing material selections for marine oil and gas applications based on the material’s PREN value.
Production at Ærfugl Phase 2 Well Ahead of Schedule
The announcement comes as Aker BP has stopped all nonsanctioned projects. The remaining two Phase 2 wells will come on stream in 2021.
Fugro Awarded Remote Operations Contract
After being acquired in 2019, the Well-Safe Guardian semisubmersible was extensively overhauled and upgraded. Fugro is the second company to be awarded work this year on the asset.
Demand Declines for OCTG; US Suffers Biggest Hit
What are the impacts of the energy crunch on OCTG demand?
Woodside Energy Awards TechnipFMC Second EPCI Contract Offshore Australia
This contract is for the development of the Lambert Deep and Phase 3 offshore Northwest Australia.
US Onshore Produced Water To Drop Nearly 20 Billion bbl by 2022
Cutbacks in oil and gas production and drilling and completions will result in a decrease in produced water and will also lead to a reduction in water infrastructure investment.
ADNOC Cancels Contracts Worth $1.65 Billion for Dalma Gas Project
The contracts were awarded in February. Petrofac said it is working with ADNOC to explore alternative options.
US Federal Court Invalidates Permit for Keystone XL Pipeline
The court ruling comes less than a month after TC Energy announced plans to proceed with construction of the Keystone Pipeline.
Subsea UK Upgrades Market Intelligence Tool
SubseaIntel will provide an overview of its upgrades over the next 3 months.
Lack of Storage Space Drives Nymex WTI to Record Low in Negative Territory
Shut-ins and planned production cuts have not affected crude prices, say industry experts.“It’s like trying to explain something that is unprecedented and seemingly unreal."
UPDATE: Limited Storage Capacity and Global Supply Glut Lead to Record Low Oil Futures
Nymex WTI crude opened Monday on track for its worst day on record, falling nearly 40% to $11.05/bbl on the back of excess supply vs. low demand and dwindling storage capacity.
Chevron Sells Azerbaijan Assets to MOL Hungarian Oil and Gas
The deal is part of the company’s divestment program targeting proceeds of $5 to 10 billion between 2018 and 2020.
Shell Shuts In Perdido, ExxonMobil Shuts In Hoover Platform
Both platforms offshore assets were shut in following a leak in ExxonMobil's 100,000 B/D pipeline system.
Gazprom Neft To Develop Meretoyakhaneftegaz Project Alone After Shell Drops Out
Shell remains involved in the Salym Petroleum Development JV with Gazprom after dropping out of the planned Meretoyakhaneftegaz JV.
Subsea 7 To Provide Installation Services for Anchor Field Project
Subsea 7’s installation services contract is the latest Chevron award for its Anchor field project. First oil from the project is expected in 2024.
North Sea Contracts Granted to European Companies Ardyne and Allseas
Ardyne’s North Sea long-term contracts were for 175 wells with possibly more to follow, while Allseas contract is for removal and disposal for the Valhall complex.
Norway Gives the Go Ahead for Equinor’s Hywind Tampen Wind Farm
The Norwegian wind farm is expected to start up in 2022. The wind farm is also expected to create spinoff effects during the project’s life.
Industry Has Little Room for Further Cost Cutting
Energy research groups Wood Mackenzie and Rystad Energy say improvements in operations costs since the last downturn 5–6 years ago have made it difficult for companies to make further reductions amid the current drop in demand.
OGUK Survey Aims To Find Supply Chain Solutions
Results of the survey will provide support for the UK’s initiatives to help businesses affected by the industry downturn and the COVID-19 pandemic.
UPDATE: Schlumberger Cuts Executive Salaries, Workforce
The company's North American business will accelerate a restructuring that includes job cuts and furloughs over the next couple of months.
After a Decade of Waiting, the Keystone XL Will Be Built
The $8-billion pipeline project has been held up for years, but amid a historic price crash, the Canadian government is stepping in with funding to support exports.
Aker Solutions Joins Ranks of Service Companies To Reduce Capex and Workforce
Sandvik and SNC-Lavalin made similar announcements in late March and would take further action if necessary.
McDermott Wins Pre-FEED Contract for Trion Project
McDermott was selected previously for a study of the FPU. Completion of the Trion project is expected in Q3.
Reuse of Produced Water From the Onshore Oil and Gas Industry
The fact sheet, in conjunction with other IPIECA water management guidance, is intended as a guide to explore opportunities to reuse produced water.
Two Strategic Partnerships Emerge for Offshore Unmanned Systems
Fugro and SEA-KIT’s partnership will develop unmanned vessels, while HII and Kongsberg will market naval and maritime products.
PTAS Aker Solutions Secures Brownfield Services Contract Offshore China
The five-year contract is worth an estimated $400 and covers more than 200 offshore assets.
BLM Sees Tepid Results from Federal Land Lease Sale
Wyoming sold the most parcels during the recent US Bureau of Land Management’s auction for oil and gas leases on federal land.
New Methodology and Technology Aims To Manage Corrosion Under Insulation
The methodology is the industry’s first to address CUI. Along with DNV GL’s new technology, maintenance costs may be reduced by up to 50%.
Aker Solutions To Provide Umbilicals for Chevron’s Gulf of Mexico Project
The umbilicals will be designed and manufactured at Aker Solutions’ facility in Alabama.
Extended-Reality Initiative Optimizes Wellsite Planning
Immersive technology on projects such as wellsite planning incorporates XR, drones, and collaboration.
COVID-19 May Impact More Than Half of all Oil and Gas Projects Being Sanctioned
Revised estimates of project sanctioning total $61 billion in 2020, which is down from $192 billion forecast in 2019.
European Gas Demand and Power Consumption Estimates Revised on COVID-19
Gas demand is expected to grow by just 2 Bcm in 2020, down from previous expectations of 6 Bcm. The Netherlands, UK, Germany, and Spain are expected to see the biggest impact.
JIPs Develop Guidelines for Additive Manufactured Parts
The JIPs managed by DNV GL and Berenschot focused on 3D-printed-component certification and supply chain set-up.
Leviathan Offshore Platform To Empty Natural Gas
A fault was identified at the Leviathan platform’s production system. This comes a month after a malfunction was discovered at the project’s subsea pipeline.
TechnipFMC Wins Integrated EPCI Contract for BP Platina Field in Angola
TechnipFMC will utilize its service base and umbilical factory in Angola for the EPCI contract.
Europe's Oilfield Service Companies at Risk of Bankruptcy Amid $5 Billion in Cuts
More than 200 companies could become insolvent in the UK and Norway. This number may be larger when including the rest of Europe.
TechnipFMC Postpones Split Into Two Companies
The company plans to split when the markets recover.
Offshore Industry More Resilient Than Shale Amid COVID-19 Impact
Because offshore project lead times are longer than in shale, production is likely to come on line in 2–5 years when oil prices may be higher. But the number of FPSOs to be sanctioned this year may be cut by half.
Shell and Wood Unveil Smart Choke Technology Agreement
Wood is Shell’s exclusive partner for Shell’s Smart Choke technology, which suppresses riser-induced slugging.
Case Study Highlights Getting Project to Sanction in 3 Months
A small core team with the ability to make decisions was responsible for getting a subsea tie-back project up to sanction within a short-time frame.
Sandvik To Provide Steel Tube Umbilicals for Mero Oil Field Offshore Brazil
Sandvik said it received the first large-scale stainless steel umbilical tube order for Mero. The tubes will be encapsulated by Prysmian Group.
Canada’s Safety Board Finds Stress Corrosion Cracks Led to 2018 Pipeline Fire
Westcoast Energy revised its inspection practices following the 2018 incident. Its model used to predict crack growth did not take into account all uncertainties
Subsea 7 Awarded Offshore Contracts in Australia and US Gulf of Mexico
The company announced both contract awards simultaneously. The new contract awards could be worth up to $800 million.
DNV GL Research Finds Tubes and Piping Are Most Failure-Prone Components in Energy
DNV GL researched over 1,000 failure cases to identify failure-prone components. The research is based on cases from its global network of labs.
GWPC Report Shows US Produced Water Up Alongside Oil and Gas
GWPC releases its third produced water report. Texas leads all states in produced water volume.
Join a Technical Section, It’s a Win-Win
SPE’s technical sections offer communities rich with industry expertise. And your engagement adds to the wealth of knowledge to be shared.
OGCI Unveils Consortium and MOUs To Support Development of Net Zero Teesside Project
BP, ENI, Equinor, Shell and Total to develop Net Zero Teesside Project. The project aims to capture 6 mtpa of CO2 emissions.
Phillips 66 and Trafigura Form JV To Build US Gulf Crude Terminal
Phillips and Trafigura JV expected to load VLCCs. The project is in the permitting stage with an FID expected this year.
Chevron Signs Wood To Deliver Engineering Design for Anchor Deepwater Project
Wood will provide the FEED and design for the offshore project. First oil is anticipated in 2024.
Coronavirus Forecast To Affect Energy Prices More Than Projects
In a scenario of accelerated international infection rates, the supply impact would quickly become more severe. If ongoing virus containment efforts prove unsuccessful, production operations at more producing assets in Southeast Asia and beyond could be directly affected.
Immersive Tech, Cybersecurity, and Data Management Key Themes at VR/AR Forum
More energy and engineering companies participate in second Industrial VR/AR Forum.
Ronald Yeung, Petrobras, and Total’s Nigeria Unit Awarded for Distinguished Achievement by OTC
OTC announces Distinguished Achievement Awards for 2020.
Phillips 66 Partners Takes 50% Interest in $1.6-Billion Liberty Pipeline Project
The transaction is expected to close in March. The Liberty Pipeline runs 700 miles between Cushing, Oklahoma and Guernsey, Wyoming.
Suncor Receives Approval To Build 40,000 B/D Facility in Alberta
Suncor gets Canadian approval for Meadow Creek West.
Romanian Romgaz and Others To Make Offer for ExxonMobil’s Stake in Black Sea Project
Romgaz seeks 20% stake in ExxonMobil’s Neptun Deep project
OTC Announces Emerging Leaders Recognition Program
The Offshore Technology Conference announced the inaugural OTC Emerging Leaders program, which will recognize young professionals from each of the OTC sponsoring, endorsing, and supporting organizations.
NGL Energy Partners signs agreements for Water Transport and Disposal in Delaware Basin
NGL Energy Partners announces acreage dedication for Delaware Basin water transport and disposal
Petrofac Unit Wins $1.65-Billion Contracts for ADNOC’s Dalma Gas Project
Petrofac continues working relationship with UAE following contract awards for Dalma Gas Development project.
Oil Majors Seek Sustainable Power for North Sea Projects
North Sea operators BP, Shell, and Total have begun an effort to fuel their platforms using sustainable power sources through a connection with Norway’s onshore power grid, which is driven almost wholly by renewable energy.
Fugro Wins Contest With Machine-Learning Model for Pile-Driving Prediction
Using the supplied data set of cone penetration test results, competing teams had to predict the number of hammer blows required to drive the pile a given unit of depth in the North Sea.
IOGP JIP33 Opens Proposed Flare Package Spec for Public Review
IOGP today launched JIP33 flare package specification guidelines for public review and comment.
Newly Formed JV To Provide Data-Driven Drilling Riser Maintenance Program
The data-driven maintenance program incorporates riser condition, usage, and fatigue analysis with a risk-based inspection process.
Wood Sells Industrial Services Business
The company's industrial services business provides integrity and fabric maintenance for assets in the offshore oil and gas, process energy, marine, and infrastructure sectors across the UK and Ireland.
Equinor Awards Contracts for Bacalhau Project Offshore Brazil
Described as Brazil’s first-ever integrated SPS and SURF project, the development will include 19 wells, approximately 130 km of rigid risers and flowlines, and 35 km of umbilicals.
Assessing Operational Readiness for Restart of Wafra Oil Field
After 4-1/2 years out of service, the massive Wafra oil field in the Saudi-Kuwaiti Onshore Partitioned Neutral Zone, is set to resume production sometime soon and ensuring a smooth restart is no small order.
Water Services Company, Texas General Land Office Expand Delaware Basin Agreement
Layne Water Midstream has amended its agreement with the Texas General Land Office to gain exclusive right for reuse and disposal of produced water in the Delaware Basin.
BW Offshore To Spin Off Its E&P Business BW Energy
BW Offshore plans to float its exploration and production unit BW Energy through an initial public offering in the first quarter of 2020.
A listing of recent executive moves in the industry.
Better Abandonment Cost Estimates Yield Improved Project Valuations
Developing an asset requires key investment decisions to be made early in the process, and as a result, some critical cost evaluations—such as abandonment—are often ballpark estimates. Adjusting the parameters for evaluating these costs can lead to more-accurate project valuations.
Natural Gas Prices Raise Questions About the Future Energy Mix
Natural gas has emerged as a potentially major player in the energy mix, but what role will price pressures play in sanctioning gas supply projects and in LNG markets?
On the Lighter Side: Moon(pool) Gazing in Peru
Take a look at these moonpool visitors.
Satellite Service Provider Offers Free Visualization of Methane Emissions
GHGSat announced a new service for visualizing greenhouse-gas emissions. The interactive online resource will be freely available and will be formally launched during COP26 in November.
University of Houston Researchers Make Progress in the Modeling of Evaporation
Researchers described the temperature changes at the point where liquid meets the vapor during evaporation. The explanation, developed using the Direct Simulation Monte Carlo method, will allow scientists to more accurately simulate the performance of systems based on the theory of evaporation.
TC Energy Plans To Move Equipment for Keystone XL Preconstruction Work
TC Energy is planning to start mobilizing heavy construction equipment to worker campsites and pipeline storage sites in Montana, South Dakota, and Nebraska in February to start preconstruction work on the Keystone XL Pipeline.
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