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Saudi Aramco Awards Contracts Worth $18 Bln

Jul 09, 2019

Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construction projects at its Marjan and Berri oilfields, the company said on Tuesday.Saudi Aramco plans to boost production capacity from the two fields by 550,000 barrels per day of Arabian Crude Oil and 2.5 billion standard cubic feet a day (BSCFD) of gas, it said. The company's maximum sustained oil output capacity is currently 12 million barrels per day…

Vietnam, China in South China Sea Standoff

Jul 17, 2019

Vietnamese and Chinese ships have been embroiled in a weeks-long standoff near an offshore oil block in disputed waters of the South China Sea, which fall within Vietnam's exclusive economic zone, two Washington-based think-tanks said on Wednesday…

Woodside Starts Commissioning at Greater Enfield

Jul 10, 2019

Australia's Woodside Petroleum Ltd has started commissioning activities at the $1.9 billion Greater Enfield oil project off the state of Western Australia, two people with knowledge of the matter said on Wednesday.Oil from the project is expected to be sought after by traders in Asia…

Imenco Buys Proserv's Nautronix Unit

Jul 05, 2019

Controls technology company Proserv said it has sold its through-water digital acoustic communications and positioning systems business, Nautronix, to Imenco, a Norwegian supplier of subsea electronic and mechanical products.The divested unit will become a division within Imenco…

Eni Awarded License Offshore Ghana

Jul 03, 2019

Eni and its partners have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana, the Italian supermajor announced of Wednesday.Eni said it will be the operator of the license, and its…

Saudi Aramco, BHGE Open Research Center

Jul 02, 2019

Saudi Aramco signaled its commitment to cutting edge technology and developing global partnerships with the opening yesterday of a “game-changing” Baker Hughes GE (BHGE) research facility at Dhahran Techno Valley.The facility will house a number of state-of-the-art technologies…

ExxonMobil’s Exit Not a 'Major' End in Norway

Jun 24, 2019

The withdrawal from Norway’s offshore sector of ExxonMobil appears to be underway, and the development to some looks like the start of a pullout of “international oil majors” from a sector dominated by stately player, Equinor.True, ExxonMobil’s departure is symbolic…

​Sverre Farstad Picks Up Blue King PSV

Jun 21, 2019

The new ship owning company Sverre Farstad & Co has taken ownership of a 2016-built platform supply vessel (PSV), marking a return for the Farstad name in the Norwegian offshore sector.Farstad was one of the parties behind the June 2017 three-way merger of Norwegian ship owners Solstad Offshore…

OPEC Output to Remain Flat: Rystad

Jun 19, 2019

OPEC and its allies, including Russia, can maintain their current cuts and not reduce outputs any more because there will be a crude oil demand surge later this year from changing shipping fuel standards worldwide.The OPEC+ countries will not…

Subsea Power Distribution Drawing Near

Jun 18, 2019

Subsea power distribution set to move oil and gas production facilities on the seafloorSubsea power distribution down to 3,000 meters depth will soon be a reality. This summer, a full-scale prototype will be running a 3,000-hour test. After that…

Equinor Eyes Floating OWF in Canary Islands

Jun 05, 2019

Norwegian energy giant Equinor has received the green light to build a 200-MW floating offshore wind farm (OWF) off the coast of the Canary Islands.According to local media report, the energy major planning to invest around €860M to the OWF off Spain's Gran Canaria island…

Global OWP Market to Grow 18% by 2023

May 29, 2019

Global offshore wind power market size will grow by over USD 17 billion during 2019-2023, at a CAGR close to 18%, said Technavio report.Due to rapid urbanization and industrialization across the world, there has been significant growth in the global demand for electricity…

A New Well, a New Offshore Bonanza

May 28, 2019

Whatever its investments in wind, Equinor on Monday received a much anticipated greenlight to drill for oil in a mature quadrant of the North Sea, where success with the drill bit could again change field economics for the giant Johan Sverdrup field — and other…

Lekoil Withdraws Suit Against Nigerian Petroleum Minister

May 16, 2019

Nigeria’s upstream regulatory hiccups continue to take toll on planned offshore exploration and production schedules as some private investors are stuck with their work programs for lack of clarity on key upstream mergers and acquisition procedures…

BHGE Wins Subsea Award from Beach Energy

May 07, 2019

Beach Energy has awarded Baker Hughes, a GE company, a contract to supply subsea production systems for its Victorian Otway Basin brownfield development project located in offshore Victoria, Australia.The Otway Basin is approximately 500 kilometers…

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