Premier Oil and Rockhopper, two oil companies working to develop the Sea Lion oil field offshore the Falkland Islands, have welcomed Navitas as their potential new partner in the project.The companies have signed non-binding heads of terms with Navitas Petroleum…
2020 will be a peak year for floating production, storage and offloading unit (FPSO) demand with up to 14 awards forecast in Wood Mackenzie’s base case scenario, half of which will be located offshore Latin America. Only two of these facilities are expected to be Petrobras units…
Britain's Premier Oil on Wednesday reduced its forecast for its 2019 operating costs to $12 per barrel of oil equivalent (boe) from $13 and expects debt reduction to reach the upper end of its $250-$350 million target by year-end.Premier, which had debt of around $2…
Britain's Premier Oil increased its 2019 production guidance on Thursday, saying output had been boosted by efficiency measures and a late sale from its now-divested Pakistan oil fields.The company said it now expects output to reach 75,000 to 80…
The offshore drilling and production equipment manufacturer Dril-Quip has announced that Dril-Quip (Europe) Limited, its wholly-owned subsidiary based in Aberdeen, Scotland, has entered into a Front End Engineering and Design (FEED) Contract…
UK-based explorer Rockhopper says the Premier Oil-operated Sea Lion project, offshore the Falkland Islands, is moving towards sanction by year's end. Sea Lion schematic Phase 1, 2, and 3. Image from Rockhopper…
Premier Oil’s Sea Lion project is on the path to being sanctioned next year following substantial progress, with first oil targeted in 2021, according to partner Rockhopper Exploration. Sea Lion schematic Phase 1…
Falklands-focused explorer Rockhopper Exploration says a funding package for the Sea Lion development is progressing, with the UK's export credit agency and contractors potentially set to step in with cash. Rockhopper says the Premier…
Renowned for its agriculture and livestock industries, Uruguay has sought to expand its oil and gas exploration and production sector over the past decade. The South American nation hopes that its third offshore licensing round will attract…
Infield Systems’ Catarina Podevyn surveys the FPSO market and discusses recent projects awards. The John Evans Atta Mills MV25 FPSO, operating at Tullow’s TEN project, offshore Ghana. Photo from MODEC…
With large-scale projects on hold, subsea tiebacks are accounting for 75-80% of sanctioned projects. Will it last? Elaine Maslin shares Wood Mackenzie’s view. Statoil’s Bryding tieback layout…
The Bureau of Ocean Energy Management (BOEM) has revealed plans to offer about 1.09 million acres in the Cook Inlet, offshore Alaska, in a proposed lease sale this year. The Cook Inlet Oil & Gas Lease Sale 244, due to take place in June 2017…
As OE takes a look back on the year that was 2016, our website's most popular stories pretty much tell everything you need to know. It has been a depressing year for the industry with too many job cut announcements, rigs and vessel stacked (or sold)…
Development costs to first oil for the Sea Lion project off the Falklands have been reduced to US$1.5 billion with more savings possible, according to partner Rockhopper exploration. The UK-based independent also says the 2C, or proved plus probable reserves…
Premier Oil says it has further reduced costs on the Catcher floating production development in the North sea, to a forecast total US$1.7 billion. The drop, a 24% reduction on the original sanctioned estimate, comes after costs had been reduced 20% to $1…
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