Providencehelp Worldwide Foundation: 2014-11-02

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Friday, 7 November 2014

Statoil strikes out with last Barents Sea exploration well

STAVANGER, Norway -- Statoil Petroleum, operator of production license 230, has completed the drilling of wildcat well 7227/10-1. The well was dry.

Statoil awarded interests in 12 licenses on UKCS

LONDON -- Statoil was awarded interests in 12 new licenses, 9 as operator, in the 28th licensing round on the UK continental shelf, announced by the Department of Energy and Climate Change. Eleven of the licenses are in the North Sea and the remaining one is West of Hebrides. In terms of size, this additional acreage constitutes almost 8,000 sq km and thus represents access at scale.

Barents Sea exploration campaign completed, Statoil says

STAVANGER, Norway -- Statoil has completed its extensive 2013-2014 exploration program in the Barents Sea. This represents an all-time high exploration activity and 10% of all exploration wells drilled in the Barents Sea since its opening in 1980. “A commitment of this size and complexity requires geological, technological and organizational muscle, and the data collected are important for the future understanding of the oil and gas potential in the Barents Sea,” said Irene Rummelhoff, senior V.P. for exploration on the Norwegian Continental Shelf (NCS).

Fredriksen said to delay Rosneft deal decision on sanctions

HAMILTON, Bermuda (Bloomberg) -- North Atlantic Drilling Ltd., the rig company controlled by billionaire John Fredriksen, will extend a deadline to complete deals with Russia’s OAO Rosneft that include $4.25 billion in contracts amid concern over trade sanctions, a person familiar with discussions said. The deadline for breaking the accords will be extended from Nov. 10, said the person, asking not to be named because the talks are private. North Atlantic, a unit of Seadrill Ltd., is considering alternative assignments for two rigs due to start operating for Rosneft next year, the person said.

Aker Solutions profit, margin drop on Norway activity slump

OSLO, Norway (Bloomberg) -- Aker Solutions ASA, the offshore engineering company controlled by billionaire Kjell Inge Roekke, said profit dropped as activity in Norway fell, and sees a risk of more project delays as oil prices slump. Net income declined 24% from a year earlier to 265 million kroner ($39 million) in the third quarter, while the Oslo-based company’s margin on earnings before interest and tax fell to 5.6% from 6.6%, it said in a statement. Offsetting that, revenue rose 22% to 8.3 billion kroner.

Fincantieri and Technip together in the offshore market

Fincantieri and Technip together in the offshore market TRIESTE, Genova Fincantieri and Technip in Italy signed a MOU, aiming to increase their joint competitiveness, by starting to address Italian and Mediterranean Sea offshore markets. This agreement follows the existing collaboration

Claxton's new CCSS delivers huge rig time savings

Claxton' s new CCSS delivers huge rig time savings NORFOLK, United Kindgom Claxton Engineering, an Acteon company, has developed a new conductor cementing support system (CCSS) that has typically saved 12 to 18 hours of rig time per conductor waiting for

CGG modifies debt terms as French surveyor’s loss tapers

PARIS (Bloomberg) -- CGG SA renegotiated debt terms and said it didn’t envisage a capital increase as losses at the French oil surveyor narrowed in the third quarter. The shares surged the most in more than a decade. “We are not planning a capital increase because we don’t need one,” CEO Jean-Georges Malcor said on a conference call. The market is “difficult” because oil companies are increasingly cautious about spending due to a rapid drop in crude prices.

BG Group official hired to head new UK oil-industry regulator

LONDON (Bloomberg) -- The UK hired a senior BG Group Plc executive to head its new oil and gas industry regulator under plans to boost the country’s recovery of fossil-fuel reserves. Andy Samuel, BG Group’s managing director for European exploration and production, will be chief executive officer of the Oil and Gas Authority from January, the UK Department of Energy and Climate Change said Nov. 6 in a statement.

Statoil suspends two rigs in Barents Sea

Statoil suspends two rigs in Barents Sea STAVANGER, Norway Statoil has decided to suspend two new rigs, Transocean Spitsbergen and Songa Trym, due to overcapacity in the rig portfolio, and unsuccessful attempts to mature alternative assignments. The rigs will be

Zhejiang Shipbuilding completed deliveries of 12 ULSTEIN designed PSVs

Zhejiang Shipbuilding completed deliveries of 12 ULSTEIN designed PSVs ULSTEINVIK, Norway Zhejiang Shipbuilding in Ningbo, China, delivered Sea Swift, the final of twelve platform supply vessels (PSV) of the large PX105 design, to ship owner Deep Sea Supply on Oct.

Hercules Offshore to cut more than 300 offshore workers

HOUSTON – Hercules Offshore, a Houston-based drilling contractor, is to lay off 324 employees as it shuts down four rigs in the Gulf of Mexico. The job losses are expected to begin around Dec. 31, according to a letter the company sent to the Texas Workforce Commission, the agency charged with overseeing and providing workforce development services in Texas, last week.

Talisman slumps to 12-year low on possible North Sea writedowns

CALGARY, Alberta (Bloomberg) -- Talisman Energy Inc., the Canadian energy producer targeted by activist Carl Icahn a year ago, fell to the lowest since 2002 after it said troubles with its North Sea unit may lead to writedowns before the year’s end. The stock’s 12% decline came as the Standard & Poor’s/TSX Energy Index fell after the West Texas Intermediate oil benchmark dropped to a three-year low because Saudi Arabia cut its price for U.S.-bound exports. Athabasca Oil Corp. and Lightstream Resources Ltd., which produce crude in Western Canada, also slumped.

Bibby Subsea invests in new Houston facility

HOUSTON -- Bibby Offshore’s Houston-based division, Bibby Subsea, has announced the investment in a custom-built office and key appointment as a result of continued growth in the region. The new premises, due for completion in November 2014, consist of a 6,300 sq. ft. office space and 2,000 sq. ft. warehouse and workshop area, which will allow for further team expansion. A recruitment drive is planned to increase the number of Bibby Subsea staff in the region by more than 70, both onshore and offshore, throughout 2015.

Tiger Offshore Rentals expands with acquisition of OAG

LIMASSOL, Cyprus -- Tiger Offshore Rentals has acquired OAG East Med Offshore Rentals, making it the only local provider of DNV 2.7-1 certified offshore equipment in Cyprus. OAG has been recognized as one of the fastest growing providers of offshore cargo carrying units (CCUs) in the Mediterranean region, and the addition of OAG cements Tiger’s dominant position to service the Leviathan gas field, as well as providing ongoing opportunities in the Mediterranean and North African region.

SOCO EPC announces test results of Lidongo X Marine 101 well offshore Congo

SOCO EPC announces test results of Lidongo X Marine 101 well offshore Congo LONDON SOCO EPC, operator of the Marine XI block, offshore the Republic of Congo (Brazzaville), has successfully completed testing of the exploration well Lidongo X Marine 101

Pacific Radiance’s new offshore support vessel gains $70m charter contract

Pacific Radiance’s new offshore support vessel gains $70m charter contract SINGAPORE As a testament of its successful diversified fleet strategy, Pacific Radiance has deployed its newly delivered offshore support vessel on a charter in South East Asia. The vessel is

Aibel bags Goliat FPSO hook up contract

Aibel bags Goliat FPSO hook up contract STAVANGER, Norway Aibel has been awarded the contract for hook up and commissioning of Goliat, before start up, at the field, in Barents Sea. The contract includes preparations and commissioning before start up

More known about life in Gulf of Mexico than ever before

CORPUS CHRISTI, Texas – More than 2,400 researchers from 214 institutions have collected more than 18 terabytes of data from more than 200 scientific studies investigating life in the Gulf of Mexico. “We have research on burrowing clams with hydrocarbon traces; jellyfish with a high tolerance for crude oil toxins; zooplankton that react to oil dispersants; gulf killifish with altered reproduction habits from environmental stressors. And that’s just the beginning,” said Dr. Jim Gibeaut, Endowed Chair for Geospatial Sciences at the Harte Research Institute for Gulf of Mexico Studies at Texas A&M University-Corpus Christi, and the director of the data cooperative.

Churchill launches world's first hydraulic pipe recovery tool

ABERDEEN, United Kingdom -- Churchill Drilling Tools, the provider of innovative dart activated drilling tools, has launched the HyPR (Hydraulic Pipe Recovery) system for the rapid and cost-effective recovery of stuck pipe. Stuck pipe situations cost operators hundreds of millions of dollars a year in wait times. The HyPR tool, developed by the Houston and Aberdeen-located company, can cut that cost significantly by enabling operators to get back on track much more quickly.

CGG announces major commitment to StagSeis program in Gulf of Mexico

PARIS -- CGG has announced another major commitment to its Gulf of Mexico StagSeis multi-client program with the prefunding of the entire 871-offshore-block program by an international E&P company. Representing over 20,000 sq km, this new full-program commitment for all three StagSeis surveys, IBALT, DEUX and TROIS, comes in addition to significant prefunding by several other E&P companies.

Statoil sees $200 billion in sales from Johan Sverdrup

STAVANGER, Norway (Bloomberg) -- Statoil ASA said the Johan Sverdrup deposit will generate 1.35 trillion kroner ($200 billion) in revenue over 50 years after it starts pumping oil in 2019 as the company released an environmental impact assessment. The assessment is the first step of the development and operation plan that’s expected to be handled by parliament next year, Stavanger-based Statoil said in a statement. The plan is expected to be prepared and agreed on by the partners at the start of February, Statoil said.

Keppel FELS to build KFELS Super B jackup rig worth $240 million

Keppel FELS to build KFELS Super B jackup rig worth $240 million SINGAPORE Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine ( Keppel O&M) has secured a contract from BOT Lease (BOTL), for a KFELS Super B

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