Contracts News

 

Oil Rises as OPEC Compliance Eclipses US Output

Feb 01, 2018

U.S. production tops 10 mln bpd for first time since 1970 as U.S. inventories rise by 6.8 mln bbls. Oil prices rose on Thursday after a survey showed OPEC's commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970…

Shell in Buying Spree for Clean Energy

Jan 26, 2018

Shell spends $400 mln in recent weeks on renewables, power. Royal Dutch Shell has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint…

Oil Hits $71 for First Time Since 2014

Jan 25, 2018

Brent reaches $71.20, highest since December 2014; U.S. crude inventories fall for a record 10th straight week. Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking run of declines in U…

IEA Sees Oil Markets Tightening as PDVSA Output Sags

Jan 19, 2018

As U.S. oil output is poised to overtake Saudi Arabia, Venezuelan oil output is at 30-year low - and could fall further. Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017's biggest unplanned output fall and could see a further decline in 2018…

Collaborative contracting

Jan 10, 2018

Audrey Leon looks at how BP’s new approach to working with its suppliers have led to quicker project start-up (First published in OE January 2018, view the full issue here). The Juniper platform offshore Trinidad and Tobago…

The future of project contracting

Jan 10, 2018

Lower for longer oil prices are leading operators to reconsider the structure of project contracts. Many are leaning toward supplier-led solutions to cut costs and boost reliability. Karen Boman reports (First published in the January 2018 OE…

ABS, DSME sign FLNG agreement

May 04, 2017

ABS, a provider of classification and technical services to the marine and offshore industries, signed an agreement with Daewoo Shipbuilding and Marine Engineering Co. (DSME) to support safety and apply class guidance to a conceptual floating liquefied natural gas (FLNG) unit…

NPD awards AGR support agreement

Apr 28, 2017

AGR has been awarded a frame agreement to deliver well and drilling engineering advice to the Norwegian Petroleum Directorate (NPD) to support evaluation of drilling programs, well design and testing, completions and plugging and abandoning…

Safe Zephyrus gets Johan Sverdrup contract

Apr 26, 2017

Statoil has awarded Prosafe a contract for the provision of the Safe Zephyrus semisubmersible accommodation vessel for Phase 1 of the Johan Sverdrup hookup and commissioning project in the Norwegian sector of the North Sea. The contract…

SMD signs Van Oord Gemini contract

Apr 25, 2017

Soil Machine Dynamics Ltd. (SMD) has signed a contract with Van Oord for the manufacture and delivery of a QTrencher 1600. This contract follows the successful deployment of SMD’s QTrencher 1400 on Van Oord’s Gemini Wind Farm.  Scheduled for delivery in Q1 2018…

TechnipFMC, Aker bag Cara study

Apr 21, 2017

Operator Engie E&P Norge has awarded contracts to TechnipFMC and Aker Engineering and Technology for feasibility studies for the Cara project in the Norwegian part of the North Sea. The studies intend to show the potential, challenges and opportunities at an early stage of the development…

PTTEP awards Neptune Cash Maple work

Apr 21, 2017

Neptune has been awarded a major geophysical and geotechnical work scope by PTTEP, Thailand's national petroleum exploration and production company, at the Cash Maple Field, approximately 630km North-Northeast of Broome, Australia. Neptune…

Beerenberg wins Johan Sverdrup work

Apr 20, 2017

Norwegian oilfield services company Beerenberg has won a hook-up contract with Aker Solutions worth US$23.4 million (NOK 200 million) plus options for two installations on the Johan Sverdrup field in the North Sea. Beerenberg’s scope of work will include scaffolding…

Bristow Helicopters gets Apache contract

Apr 18, 2017

Bristow Helicopters Ltd. has secured a new contract with Apache North Sea Ltd. to support its North Sea operations. The contract which has a five-year primary term, with further extension options, will commence on 1 September 2017.  Aircraft…

HMC, AF Decom to scrap four Ekofisk platforms

Apr 11, 2017

ConocoPhillips will choose Heerema Marine Contractors and AF Gruppen to remove and dispose of platforms connected to the Ekofisk field in the Norwegian North Sea. Ekofisk was the first oilfield discovered in the North Sea, is one of the…

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