Deepwater Millenium News

 

EIA: Deepwater, UDW oil production increasing

Oct 28, 2016

Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 MMb/d in 2015. Deepwater production, or production in water of depths greater than 125m, has increased 25% from nearly 7 MMb/d a decade ago…

Transocean stackings rises to 28, wins new contracts

Jul 22, 2016

Global drilling giant Transocean has announced a string of new contracts and the start of its newbuild drillship Deepwater Proteus on contract.  The firm has also stacked six rigs, taking its total number of currently stacked rigs to 28…

Conoco cuts deepwater GOM drilling plans

Apr 29, 2016

ConocoPhillips said its participation in the non-operated Gibson will be its last deepwater exploration well in the Gulf of Mexico, as it looks to cut its spending.  The firm, which announced a plan to reduce deepwater Gulf of Mexico activity last year…

DW: West Africa deepwater falls a further 44%

Mar 21, 2016

Douglas Westwood (DW) has revised its outlook considerably for West Africa’s deepwater prospects by 44% amid project delays and cancelations.   A year ago, DW said that exploration and production (E&P) companies within West Africa were…

DW: deepwater spend forecast drops 35%

Mar 08, 2016

Douglas-Westwood (DW) forecasts deepwater expenditure to total US$137 billion from 2016-2020. This represents a 35% decline compared to DW’s previous edition of the deepwater forecast issued March 2015. The prolonged low oil price has impacted the deepwater market…

Helix exits Deepwater Gateway

Feb 17, 2016

Helix Energy Solutions Group is selling its 50% stake in Marco Polo platform owner Deepwater Gateway to a subsidiary of Genesis Energy for US$25 million. Anthony Tripodo, Executive Vice President and CFO of Helix, said: “The sale of the…

Transocean delays 2 Shell newbuilds

Oct 26, 2015

Transocean has chosen to delay the operating and delivery contracts for two newbuild ultra-deepwater drillships by 12 months, the company announced on 26 October. Transcocean, working with its customer, Shell, and the shipyard, Daewoo…

Transocean to pay US$20 million to Alabama for Macondo

Oct 23, 2015

Transocean and the state of Alabama have agreed to a US$2 million settlement stemming from 2010’s Deepwater Horizon disaster. The Deepwater Horizon. Image from EPA. Governor Robert Bentley announced the settlement this week…

Innovation is the key to Brazil’s deepwater reserves

Oct 01, 2015

Today, deepwater reserves are a key part of the world’s oil and natural gas needs, accounting for roughly 11% of global production. Over the past five years, two-thirds of discoveries occurred in deepwater, and Brazil has been the preeminent site of this trend…

Centek announces deepwater division

Aug 31, 2015

Centek Group, a centralizer manufacturer, has formed a deepwater division to focus the sale and support of its specialist deepwater centralizer products. Centek’s deepwater centralizers are designed for use in wells where as many as nine…

Newpark Drilling Fluids expands Port Fourchon

Jun 12, 2015

Newpark Drilling Fluids is extending its offshore reach with enhanced, customized fluids technology, expanded facilities infrastructure and a team of professionals dedicated exclusively to deepwater products and services. Newpark Drilling Fluids is expanding its Port Fourchon facility…

Ultra growth in the ultra deep

Jun 01, 2015

Apparently undeterred by low oil prices, oil and gas output from ultra deepwater (>1000m water depth) fields will continue the relentless growth seen in recent years. Image from Shell. In…

Deepwater briefing

Jun 01, 2015

Towards 2025, deepwater exploration and production will save the offshore industry, Norwegian energy analysts Rystad said in a recent presentation. According to Douglas Westwood’s World Deepwater Market Forecast, 2014-2018, deepwater spending is due to rise by 130%…

Short-term uncertainties in the deep

May 01, 2015

Infield Systems’ Catarina Podevyn takes a look at recent oil price movements and market conditions on the deepwater (500m+) capex spending up to 2019. Olympus platform in deepwater US Gulf of Mexico…

Transocean scrapping rigs

Mar 19, 2015

In Transocean’s fleet update, the Switzerland-based company says it will be scrapping four of its rigs and 16 floaters that will cost up to US$325 million. The Sedco Express. From Transocean.   The Deepwater Expedition…

Current News

UK Firm Seeks Suppliers to Build Full-Scale Tidal Energy Prototype

UK Firm Seeks Suppliers to Bui

Brava Energia Inks $65M Deal with PetroReconcavo for Natural Gas Assets

Brava Energia Inks $65M Deal w

Record Offshore Wind Auction Required for UK to Meet Targets

Record Offshore Wind Auction R

First French Floating Wind Farm Fully Commissioned

First French Floating Wind Far

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine