Deepwater exploration offers one of the few attractive places for today's international oil companies, but costs will need to be curbed to make it work, senior executives said in Aberdeen today (14 October). Total's…
Denmark is the European Union’s (EU) only net exporter of oil. The Nordic state’s oil exports totalled approximately 13.7MMboe in 2013. This is in stark contrast to the EU’s only other significant oil producer, the UK, which became a…
Energy analysts Douglas-Westwood estimates in its World Floating Production Market Forecast that US$91 billion will be spent on FPSs during the period of 2013-2017. This marks a 100% increase over the previous five-year period, with the global CAPEX set to double…
Singapore-based COSCO Corporation is looking for a buyer for ATP Oil & Gas (UK)’s Octabuoy facility. COSCO’s Nantong yard ceased work on the project, a semisubmersible dry-tree production platform, which had been due to be used on ATP’s UK North Sea Cheviot field development…
With Pieter Schelte, the figures alone are impressive: 382m-long, 124m-wide, and with a slot width of 59m, it can remove topsides up to 48,000 tonnes in a single lift, potentially revolutionizing large decommissioning projects. The new…
Growing demand for offshore accomodation vessels in the North Sea is increasing rates and accomodatoin quality as operators seek to improve spanner time, says analysts Douglas Westwood. The firm says declining North Sea production and…
Subsea UK will hosts its biennial conference, Subsea Asia, in Malaysia this week, beginning 11 June. With the Malaysian government recently approving new incentives for exploration activity in more challenging deepwater fields, Neil Gordon (pictured)…
Douglas-Westwood (DW) forecasts global subsea hardware capex will total US$117 billion (bn) between 2014 and 2018. This represents growth of more than 80% compared with the preceding five-year period. In 2013, subsea tree installations were lower than expected…
Western Europe will continue to rely on imported Russian gas into the 2020s, as mature offshore provinces struggle for growth, while large-scale shale gas extraction looks increasingly unlikely in the medium term. Following Moscow’s intervention…
Douglas-Westwood (DW) has forecast that the global autonomous underwater vehicle (AUV) fleet will increase 42% during 2014-2018, compared to the previous five years. The fleet is forecast to total 825 units in 2018, led by strong demand in the military sector…
Some 5Tcf of natural gas reserves are sitting undeveloped in the Southern North Sea, an event on the basin heard today (5 March). John Westwood, of industry analysts Douglas Westwood, was speaking at the Southern North Sea 2014 conference in Norwich…
Douglas-Westwood’s latest World Floating Production Market Report forecasts that, during 2014-2018, US$99 billion will be spent on floating production systems – an increase of 138% over the preceding five-year period. Report author, Damilola Odufuwa…
The past few weeks have seen a string of profit warnings and capital spending cutbacks from global oil and gas exploration majors. Should oilfield service companies be worried that the good times are coming to an end? According to bank and investment company Investec…
Douglas-Westwood has released its 12th World Deepwater Market Forecast (2014-2018), suggesting that deepwater spend will surge from 2016 onwards. Deepwater expenditure is expected to increase by 130%, compared to the preceding five-year period…
The leasing of floating production system (FPS) units is one of the main factors affecting the sector’s supply. Over time, confidence in the ability of leasing contractors to deliver and operate facilities cost-effectively has increased,…
Subscribe
