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North Sea is in good shape say Premier Oil

Premier Oil’s Chief executive Tony Durrant confirmed Premier have “operatorship capability” and are well-positioned to take on more assets as opportunities arise. Recently the likes of Chevron confirmed they are planning to divest their stakes in certain UK North Sea fields. The London-listed firm is also benefiting from production from the Catcher field, which came on stream in December...

Total closes the acquisition of Engie’s upstream LNG business

Total has announced the closing of the acquisition of Engie’s portfolio of upstream LNG assets for an overall enterprise value of US$1.5 billion. Additional payments of up to $550 million could be payable by Total in case of an improvement in the oil markets in the coming years. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access t...

Norwegian strike would have to last month to hit output.

A four-day oil workers strike in Norway that may escalate on Monday would have to last a month to impact Aker BP’s production from the Valhall field in the North Sea, the Norwegian energy company said on Friday. Chief Executive Karl Johnny Hersvik said activity at the Valhall IP water injection and Valhall DP drilling platforms would stop if the strike is escalated. “If the strike is prolonged it will have later in the year impact on when wells are back in production ... if that is goi...

Norwegian strike would have to last month to hit output.

A four-day oil workers strike in Norway that may escalate on Monday would have to last a month to impact Aker BP’s production from the Valhall field in the North Sea, the Norwegian energy company said on Friday. Chief Executive Karl Johnny Hersvik said activity at the Valhall IP water injection and Valhall DP drilling platforms would stop if the strike is escalated. “If the strike is prolonged it will have later in the year impact on when wells are back in production ... if that is goi...

Will crude oil prices hit $120 per barrel?

Oil prices could jump steeply to cross $120 per barrel in a not-to-be ruled out scenario of zero Iranian exports combined with Opec's lack of preparedness to offset the huge supply deficit, market analysts said.  Iran, the fourth-largest oil producer, accounts for five per cent of global oil supply and cutting its exports to zero could push oil up by $50 barrels per day (bpd) if Saudi cannot keep up, said analysts at BofA Merrill Lynch Global Research.  Oil is now a game of c...

Gas Leak on the Armada

Oil and Gas Vision have received reports the Armada platform has been shut down since Friday evening.  The leak was detected by ops after deposits were identified in the sea.  It is believed the gas detector systems failed.  We have also been advised the platform remains shutdown three days later.  Chrysaor have confirmed “everyone on the Armada is safe and well at this time”. Armada Hub installation, which consists of Drake, Hawkins and Fleming gas/conden...

Chevron set to put Central North Sea assets up for sale

Oil firm Chevron is set to put its assets in the Central North Sea up for sale. The Alba, Alder, Britannia, Captain, Elgin-Franklin, Erskine and Jade platforms are included in the plans. The operations employ 610 staff and 220 contractors. Chevron said it was confirming an intent to market its assets in the Central North Sea, and that those assets may or may not be sold. The company, the second largest US oil producer after Exxon, was among the first oil companies to drill in...

United States hints at sanctions waivers on Iran oil

 The Trump administration’s top diplomat has indicated the United States might grant waivers to some countries allowing them to continue importing Iranian crude when sanctions snapback in November. “There will be a handful of countries that come to the United States and ask for relief,” Secretary of State Mike Pompeo said on Tuesday in a television interview with Sky News Arabia. “We’ll consider it.” In a separate briefing for reporters travelling with the secretary, a senior Stat...

BP Ventures leads £2.5m investment into EnergyTech firm

BP Ventures has invested £1.5m in London-based energy monitoring company Voltaware. This forms part of Volatware’s £2.5m Series A round, which also drew support from First Imagine! Ventures and Contrarian Ventures. The deal was made as part of BP’s Alternative Energy’s strategy to explore digital innovations and the impact of technology on energy consumption and management. Voltaware fits into this criteria, as its sensors enable businesses and residential users to track their energy d...

DSME shortlisted for Chevron’s Rosebank FPSO project

The race to win Chevron’s $2 billion offshore project has been narrowed down to South Korea’s Daewoo Shipbuilding & Marine Engineering Co. (DSME) and a Singaporean rig builder. According to industry sources on Monday, DSME and Singapore-based Sembcorp Marine were shortlisted for the bid from the U.S. energy major to build a floating production storage and offloading (FPSO) vessel. The unit is part of Chevron’s Rosebank project to develop oil fields located 175 kilometers northwest...

Petrofac wins $200m contract for Dutch wind farm

Petrofac has been awarded a $200m contract by Dutch-German transmission grid operator TenneT for the Hollandse Kust Zuid offshore grid connection for a wind farm in the North Sea.  The Dutch government is targeting a total of 3.5 gigawatt of wind energy production capacity offshore by 2023.  To achieve this, five 700 megawatt standardised concept transformer substations are planned for installation offshore Netherlands.  Petrofac will be responsible for the engineer...

Engage Talent Partners launches exclusive partnership recruitment model

A new business offering a more joined-up approach to recruitment has launched in Aberdeen. Scott Leonard, founder and recruitment director at Engage Talent Partners, believes his firm’s exclusive partnership model is the way forward in finding the best fit for clients and candidates alike. The company has already secured projects in Aberdeen, Edinburgh, Great Yarmouth and London. Scott, who was previously associate director with Aberdeen Appointments Agency (AAA), said: “The offering f...

Expro Donates Cash To Budding Whizz Kids’ Tech Club

Leading international oilfield services company, Expro, has partnered up with an Aberdeenshire primary school to donate £1,500 of interactive learning technology – bringing learning to life for nearly 450 school pupils. Strathburn Primary School in Inverurie launched its ‘Coding Club’, for children in primaries four to seven, which focuses on building the knowledge and skills of coding in order to deliver the next generation of digital creators.  Expro’s funding will supply Lego W...

Almansoori Delivers Facilities For Kenya’s First Oil Wells

AlMansoori Specialized Engineering, the leader in oilfield services in the Middle East, has successfully contributed to the Early Oil Pilot Scheme (EOPS) launch leading to Kenya’s first oil production and export programme by providing facilities for the landmark project. The $15 million contract with Tullow Oil, part of Kenya’s EOPS, included the provision of degassing facilities for three well pads and an early production facility (EPF) for oil and water separation, stabilization, storage...

Subsea 7 Celebrates Build Milestone And Announces Vessel Name

The keel laying ceremony for Subsea 7’s new reel-lay vessel took place at Royal IHC in Krimpen aan den IJssel (Netherlands) today, 5 July. In line with this major milestone Subsea 7 announced the vessel will be named Seven Vega, which is the winning suggestion of an employee vessel naming competition.Stuart Fitzgerald, Executive Vice President Strategy and Commercial Subsea 7 said: “The vessel marks an important investment for the future. When delivered, Seven Vega will be one of the most capabl...

Eni begins gas production from OCTP project

Eni’s Offshore Cape Three Points project (OCTP project), an integrated oil and gas development in offshore Ghana, has commenced production of non-associated gas from the Sankofa field. According to the Italian energy company, the OCTP project will produce 180 million standard cubic feet per day (mmscf/d) for a minimum of 15 years. The non-associated gas produced from the integrated oil and gas project will be adequate to meet the half of the Ghana’s power generation requirements from gas.&n...

Chevron set to put Central North Sea assets up for sale

Oil firm Chevron is set to put its assets in the Central North Sea up for sale. The Alba, Alder, Britannia, Captain, Elgin-Franklin, Erskine and Jade platforms are included in the plans. The operations employ 610 staff and 220 contractors. Chevron said it was confirming an intent to market its assets in the Central North Sea, and that those assets may or may not be sold. The company, the second largest US oil producer after Exxon, was among the first oil companies to drill in...

OGA initiates latest UK offshore licensing round

The Oil and Gas Authority (OGA) has commenced the 31st  UK offshore licensing round for blocks located in frontier regions of the UK Continental Shelf (UKCS). Intended to generate interest in under-explored basins, the initiative covers 1,766 blocks with a total of 370,000km2 across the West of Scotland, the Mid North Sea High, the East Shetland Platform, South West Britain and certain areas of the English Channel. The offshore licensing round is supported by more than 80,000km of...

Are the Newcomers moving for Chevron assets

Private equity backed newcomers to the North Sea such as Chrysaor, Neptune Energy, Spirit and Ineos are expected to be among potential buyers of Chevron’s central North Sea assets. Chevron is marketing its interests in Alba, Alder, Britannia, Captain, Elgin/Franklin, Erskine, and follows ConocoPhillips decision to reduce its equity in the Clair field, west of Shetland, from 16.5% to 7.5%. The operations employ 610 staff and 220 contractors. Chevron tis he second largest US oil pro...

ROVOP reports record year and growth in challenging market

Aberdeen 5th July 2018 – ROVOP Limited, (“Rovop”) an independent operator of underwater remotely operated vehicles (ROVs), has marked a major business achievement after reporting record revenues and employee numbers for the company. ROVOP has also reported its best ever EBITDA (Earnings before Interest, Taxes Depreciation and Amortisation). ROVOP Limited, the UK trading business of ROVOP, last year boosted its turnover by 39% to £19.7m, despite very challenging market conditions and continu...
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