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The field startup is Hurricane’s first step to actualizing its potentially considerable resources in the UK North Sea. Lancaster is expected to produce an average of 17,000 BOPD by the end of the year. Logistical work is taking place in advance of subsea installation activities, which have the large UK North Sea field on track for first oil in 2019.
One of the largest industrial projects in the UK in recent years, Mariner marks Equinor’s first operated field on the UK Continental Shelf. It is expected to produce 70,000 BOPD at peak rates. The $635-million deal sees Oman-based Petrogas and Norwegian private equity company HitecVision acquire a package of non-core North Sea assets, including 100% ownership stake in four fields. One of the largest pre-sanction fields on the UK Continental Shelf, Rosebank, could significantly bolster the company’s UK portfolio. However, the field’s water depth and harsh environment may run development costs into the multibillion-dollar range.
Five key steps for shaping renewable energy projects are discussed. Delays and disruptions have stymied project plans in the past few months. How will companies prevent current stresses from morphing into catastrophic issues? The Italian oil company has redesigned its dedicated portal for suppliers. The company’s Supplier Portal and Collaboration Environment, which it calls eniSpace, is a platform combining communication, collaboration channels, and open innovation instruments with traditional procurement processes.
Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn. Subsea advancements in the works include longer tiebacks, an underwater drone that lives on the seafloor, and a robotic manifold capable of actuating dozens of valves. Do these new capabilities, born of necessity, signal a sea change in industrywide technology development? The biennial SPE Offshore Europe conference will explore a diverse set of topics, including the application of digital technologies and preparing for a low-carbon energy future and ongoing work around standardization and decommissioning. Hurricane Energy is still on pace for first oil in 2019 for the Lancaster field, which may lead to more significant development in the UK North Sea.
Even before the global pandemic impacted markets, decommissioning work in the North Sea region was expected to increase. Global decommissioning projects could reach $42 billion by 2024. Despite streams of data being available on platforms about the condition of topside and drilling equipment, most experts agree that only a small fraction of such data is used. Whether for a fleet or single platform, AI can transform an offshore enterprise. The deferments are the latest actions Shell has taken in response to record low crude prices.
With contracts canceled and pressures mounting, offshore oil drillers struggle to stay afloat. With contracts canceled and pressures mounting, offshore oil drillers struggle to stay afloat. Potential suitors to acquire Chevron’s stake in the LNG project include co-owner and operator Woodside. The deal is part of the company’s divestment program targeting proceeds of $5 to 10 billion between 2018 and 2020. Subsea 7’s installation services contract is the latest Chevron award for its Anchor field project.
Unprecedented, perfect storm, a black swan event—all ways of describing the situation the oil and gas sector finds itself in right now. After 4-1/2 years out of service, the massive Wafra oil field in the Saudi-Kuwaiti Onshore Partitioned Neutral Zone, is set to resume production sometime soon and ensuring a smooth restart is no small order.
With contracts canceled and pressures mounting, offshore oil drillers struggle to stay afloat. With contracts canceled and pressures mounting, offshore oil drillers struggle to stay afloat. The two companies worked together in 2019 to improve execution techniques where Petrofac digitalized maintenance and inspection activity. TechnipFMC will utilize its service base and umbilical factory in Angola for the EPCI contract. BP, ENI, Equinor, Shell and Total to develop Net Zero Teesside Project.
Sleipner’s share in net-zero emissions savings will be more than 150,000 tonnes per year. Although these look like ordinary tankers, they are unique and run on LNG and recovered oil vapors. The Norwegian wind farm is expected to start up in 2022. The wind farm is also expected to create spinoff effects during the project’s life. BP, ENI, Equinor, Shell and Total to develop Net Zero Teesside Project.