Around 30 production floater contracts are now queued up for award over the next 18 months, assuming no major market disruption occurs and the supply chain can absorb the orders within this time frame. That’s the conclusion of an in-depth market analysis just completed by IMA/WER…
Crude prices have climbed to the upper-$70s, sustained by continued demand growth and the OPEC+ production curtailment agreement. Excess oil inventory has largely been eliminated, natural gas supply shortages have appeared in Europe and LNG prices have soared…
BP on Wednesday said all four of its offshore facilities in the Gulf of Mexico have resumed operations, having been brought back online and producing as of Sept. 12 post-Hurricane Ida.The company on Sept. 7 said it had resumed operations at its Atlantis and Mad Dog platforms…
Royal Dutch Shell Plc said its Enchilada/Salsa and Auger assets in the Gulf of Mexico were back online after they were shut due to Hurricane Ida.'Our Enchilada/Salsa and Auger assets are now back online,' Shell said in a statement late on Friday about the facilities southwest of New Orleans…
Near-term prospects for the deepwater sector are excellent. That’s the conclusion of an in-depth market analysis of the floating production market just completed by IMA/WER in the August 2021 Floating Production Systems Report.Asked what is driving the positive sentiment…
Oslo-listed offshore vessel operator DOF Subsea has secured a 6-month extension to a contract in Africa.The company said that the project, with an unnamed client and at an undisclosed location, would continue using the Skandi Seven throughout the extended duration…
The oil and gas sector continues to rebound from the great downturn, though regional surges of Covid-19 have been spooking the market, causing crude prices to be a bit volatile over the past two weeks. But, the near-term outlook remains very positive…
Oil and gas firm LLOG on Wednesday announced the first production from its Praline offshore field, located in Mississippi Canyon Block 74 in the U.S. Gulf of Mexico.The Praline well was drilled in 2,600 feet of water to a total depth of 13,400 feet and discovered over 125 feet of net hydrocarbons…
The deepwater market is rapidly returning to pre-COVID-19 activity levels, and the recovery appears to be gaining strength, according to a recent in-depth analysis completed by International Maritime Associates (IMA) and World Energy Reports (WER)…
After a thorough analyses and mapping of damages, Equinor changed the schedule for repair and start-up of the LNG plant on Melkøya after the fire on September 28, 2020. Due to the comprehensive scope of work and Covid-19 restrictions, the revised estimated start-up date is set to March 31…
Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports.McCaul bases his assessment on data in a new floating…
Royal Dutch Shell in Germany aims to produce aviation fuel and naphtha made from crops and renewable power and to increase to commercial scale an electrolysis plant that makes fossil-free hydrogen, as it seeks to move away from crude oil.The…
Four ministers from Japan and Britain voiced serious concern on Wednesday about the situation in the East and South China seas and opposed any unilateral attempts to change the status quo, in a apparent reference to China’s maritime expansion…
OPEC+, a group of leading oil-producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a source with the knowledge of the matter said.OPEC+ is debating whether to ease oil output cuts from Jan…
Oceanology International, the world's largest exhibition and conference for the subsea sector, was originally scheduled for March 2020, subsequently rescheduled to December 2020 due to COVID-19. The organizers last month announced the need to…
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