Farstad Shipping has been awarded multiple charter contracts in Brazil and Egypt. Petrobras has extended the contract for the multi-purpose supply vessel Far Swift with another year in direct continuation with present contract, until October 2017…
The oil and gas industry is known for being cyclical, however, the current reality of a “lower for longer” oil price has made sanctioning large offshore projects financially unviable, Douglas-Westwood (DW) said. Many oil majors have opted to focus on subsea well tiebacks…
GC Rieber Shipping has entered into a time charter agreement in West Africa with Marine Platforms Ltd.(MPL) for the SURF (subsea umbilicals, risers, and flowlines) vessel Polar Onyx. The vessel will perform subsea construction/SURF installation and field development for end client Chevron…
Production from the Aje field offshore Nigeria continues to be limited by the performance of the Aje-5 well which, as previously reported, requires subsurface intervention to remedy a mechanical problem, MX Oil said. In addition, the…
Sirius Petroleum entered into a financed drilling contract with COSL Drilling Pan-Pacific Ltd. (COSL), for the provision of a high specification jackup rig that will be utilized to drill a multi well campaign as part of its shallow water development strategy in Nigeria at the Ororo project…
Partners on the Chinguetti oil field offshore Mauritania are considering options for its decommissioning. Production on the field, which is produced via the Berge Helene floating, production storage and offloading vessel (FPSO), is expected to end next year…
Sonangol and its Block Zero partners Cabinda Gulf Oil Co., Total E & P Angola, and Eni Angola, started the early production system (EPS) operations at the South Wellhead Platform of the Mafumeira Sul project, off the Coast of Malongo, in the province of Cabinda on 31 October…
Subsea 7’s revenue fell more than US$1 billion in the first nine months of the year, however, the company remains positive that there will be a surge in subsea, umbilical, riser, and flowline (SURF) projects within the next 18 months. Image…
Ophir Energy, Golar LNG and oilfield services giant Schlumberger have agreed to form a joint operating company to develop the Fortuna field, offshore Equatorial Guinea, Africa. The project will use Golar's floating LNG technology and…
Houston’s Vaalco Energy makes its exit from Angola discontinuing all operations, as the company picked up stake in Etame off Gabon in Q3 2016, narrowing its focus and reducing costs. Image of Gabon operations…
Tullow Oil is moving to get its Jubilee project offshore Ghana on track by year-end, as it firms up plans to divest all of its Norwegian assets by 1H 2017. Image from Tullow. “We…
Houston-headquartered SAExploration has won a ca.US$35 million contract to provide a 3D deepwater ocean-bottom marine project in West Africa. SAE expects to initiate this project in late 2016 and complete it in Q1 2017. The project will…
New Age is continuing the evaluation of development options, including scope for early-stage development plans for the Etinde concession, offshore Cameroon, according to partner Bowleven. Image of the Etinde area…
Dallas-based Kosmos Energy posted a net loss of US$59.8 million in Q3, however, is moving forward with its plans for a multi-well drilling program next year. Image of the Atwood Achiever, from Atwood…
As the industry heads into the third year of the downturn, market fundamentals for the deepwater segment continue to fight strong headwinds, Rystad Energy says. But, is 2018 the light at the end of the tunnel for the floating rig market? Utilization…