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Friday, 23 June 2017 10:16

Total JV, Energean get Greek go ahead

Greek Authorities have cleared a Total-led joint venture, and Energean Oil & Gas to explore two separate areas offshore Crete.

The Greek Minister of Environment and Energy George Stathakis, approved the applications of the consortium led by Total, with partners ExxonMobil and Hellenic Petroleum (HELPE) to explore for hydrocarbons in new areas south and west of Crete.

The submission to explore two blocks offshore Crete was submitted in late-May.

The Greek authorities also granted  Energean Oil & Gas rights to explore offshore Western Greece, in the Ionian Sea.

According to the Ministry’s website, the two declarations will be published by the end of July. The objective is to have the bidding process to be completed by the end of the year.

Read more:

Total, JV partners seek to explore offshore Crete

Thursday, 22 June 2017 09:32

Three way merger forms SolstadFarstad

A merger between three companies: Solstad Offshore, Farstad Shipping and Deep Sea Supply, have formed the new company SolstadFarstad, creating an offshore service vessel giant (OSV).

SolstadFarstad executives. Image from SolstadFarstad.

“We are operating in a tough market. As a merged company, we are better equipped to meet the challenges and the possibilities that will arise,” says SolstadFarstad CEO Lars Peder Solstad. “With the merger, we may benefit from synergies through operation of a larger fleet, our collective competence and experience, and hence ensure profitable operations in the future.”

SolstadFarstad owns a fleet of approximately 150 vessels, and has offices in Norway, Australia, Brazil, Singapore, the Philippines, Scotland, Cyprus and the Ukraine. In addition to the offshore activity, the company holds significant activity within the renewable energy segment and aqua culture.

The company DESS Aquaculture Shipping was established in June 2016 as a joint venture between Marine Harvest and Deep Sea Supply. The company has two well vessels and one harvest vessel under construction, all with long-term contracts with Marine Harvest.

Though SolstadFarstad emerges as one company, it will be ”business as usual” until further notice, says Solstad.

“We are now entering as phase of implementation of management and systems, mapping and establishment of a new organization, as well as starting the process of streamlining the operations in accordance with the new operational model. The new organization model, will be set in September,” says Solstad.

The headquarters of SolstadFarstad is in Skudeneshavn, Norway, and the intention is to maintain operations from the offices in Ålesund, Fosnavåg and Grimstad.

“Internationally, we will maintain presence in the countries we already are established, by having one office in each country,” says Solstad.

Sven Stakkestad will serve as the company’s deputy CEO; Ander Hall Jomaas will serve as the CFO, Tor Inge Dale as the COO, Hans Knut Skar as the executive VP of subsea construction; Kenneth Lande as executive VP of strategic region AHTS/PSV; and Jon Are Gummedal as EVP of international AHTS/PSV.

 
Thursday, 22 June 2017 08:12

Updated: Gjoa leak shuts down production

Engie E&P has found the cause of a gas leak that shut down production at the Gjøa field offshore Norway on Wednesday (21 June).

Gjøa. Image from Engie.

Engie identified the direct cause of the leak to be a fracture in a weld on a 3/4in pipe associated with a condensate pump.

“The leakage generated gas detection with following shutdown, depressurization of the facility and release of deluge,” says Engie on 22 June. “The condensate leak was stopped and the situation on board the Gjøa platform is under normalization. No leakages to sea took place. Production remains shut down.”

According to the company, a gas leak occurred at 20:01 local time on Wednesday at the ENGIE E&P-operated Gjøa field in the North Sea.

Gjøa is situated West of Florø on the West coast of Norway, and contains an estimated 40 Bcm of gas reserves.

“The situation quickly came under control, and no injuries are reported,” says Engie. “The gas leak has been stopped and the situation on board the Gjøa platform is under normalization. Production is currently shut down.”

The installation had 49 people on board when the incident occurred. Of those, 19 people were demobilized by helicopter and brought to a support center in Florø.

The company's emergency response organization is mobilized to coordinate all support required, and is in talks with the authorities.

Due to good reservoir management, Gjøa is set to produce 60 MMboe more than estimated at start of production. Yet, it still has capacity to handle extra resources, says Engie.

ENGIE E&P Norge is the operator with 30% stake. Partners include Norske Shell (12%), DEA Norge (8%), Petoro (30%), and Wintershall Norge (20%).

The spar between Woodside Petroleum and Far Ltd. continues, as Woodside says arbitration proceedings filed by Far have no merit.

Woodside CEO Peter Coleman.

Woodside backed up its no-merit comment by announcing that the Republic of Senegal’s Minister of Energy and the Development of Renewable Energy issued a ministerial order, which provides further confirmation of Woodside’s participation in the Rufisque, Sangomar and Sangomar Deep joint venture (RSSD JV).

The Rufisque, Sangomar and Sangomar Deep offshore production sharing contract (PSC) covers an area of about 7490sq km over the shelf, slope, and basin floor of the Senegalese portion of the productive Mauritania-Senegal-Guinea-Bissau Basin. The field is estimated to hold 560 MMbbl.

Yesterday (20 June), Far made a request to the International Chamber of Commerce in Paris to start arbitration proceedings to resolve the current joint operating agreement dispute regarding Far’s right to pre-empt the sale of ConocoPhillips’ interest in RSSD.

“Woodside does not believe that Far’s claim has any merit,” Woodside said in a statement. “As Far has apparently initiated arbitration proceedings, Woodside does not intend to make any further comment on the arbitration proceedings at this stage.”

In July 2016, ConocoPhillips and Woodside signed a deal that would see Woodside acquire all of Conoco’s Senegalese assets for US$430 million, including operatorship of RSSD JV. Three months later, Far disputed the deal.

Currently, Cairn Energy is the operator with 40% stake. Partners include Woodside (35%), Far (15%) and the Senegal National Oil Co., Petrosen (10%).

A three-year evaluation work plan was submitted by the partners to the government of Senegal in 2015. The JV expects to submit an outline timetable for development and an exploitation plan in 2018, a final investment decision within 12 months thereafter and first oil in the period 2021-2023.

Read more:

Far files Senegal arbitration

Woodside, Far in SNE squabble

Woodside completes Senegal deal, FAR disputes it

Conoco sells Senegal business to Woodside

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