Fossil Energy
Noreco reduces Xana ownership
Norwegian Energy Company ASA (Noreco) is reducing its ownership in licence 9/95 on the Danish continental shelf from 20.1 per cent to 16 per cent. The licence is located close to the gas discovery Svane, in the Danish sector of the North Sea. The ownership is being transferred to Nordsøfonden, which
DEME orders vessels for offshore energy market
DEME has ordered two new vessels serving the offshore energy market. Contracts have been signed with shipyards La Naval in Spain and Uljanik in Croatia to build respectively the multipurpose vessel “LIVING STONE” and the self-propelled jack-up vessel “APOLLO”. The new jack-up vessel “APOLLO” will jo
KNOT secures charter for shuttle tanker in Brazil
Knutsen NYK Offshore Tankers AS (KNOT) has secured a time-charter contract with European oil major for a maximum 11-year period starting in the first quarter of 2017. A shuttle tanker loads crude oil from floating production, storage, and offloading (FPSO) units in deepwater fields while maintaining
Welltec’s Annular Barrier runs as primary for Statoil
Welltec®, a Danish based oil and gas service provider, has announced that its Welltec® Annular Barrier has been successfully run as a standalone, primary well barrier element for Statoil in the North Sea. The company says that the 9 5/8″ ISO14310 V0 WAB® was deployed, expanded and subsequently verif
Oil director: Norwegian shelf well-equipped to weather tough times
Norwegian Petroleum Directorate has today issued a statement saying that high costs and weaker oil prices could drive necessary readjustments that will strengthen the petroleum industry over the long-term. Significant remaining resources on the Norwegian shelf provide a basis for continued value cre
Ocean Rig secures cash for ‘Ocean Rig Apollo’
Ocean Rig UDW Inc., a provider of offshore deepwater drilling services, has received firm commitments from lenders for up to a $475 million syndicated secured term loan to partially finance the construction costs of the Ocean Rig Apollo. The company says that the facility amount is for the lesser of
Oil & Gas UK responds to BP’s job slash
As previously reported by Offshore Energy Today, British oil giant BP will be slashing jobs in the UK North Sea as a response to toughening market conditions. Trevor Garlick, Regional President for BP North Sea, said that the company is “taking specific steps to ensure our business remains competiti
Lifeboat incident on ‘Maersk Giant’ under investigation
The Petroleum Safety Authority (PSA) Norway has decided to investigate the lifeboat incident which occurred on the Mærsk Giant jack-up drilling rig on January 14, 2015. According to the PSA, the incident occurred during testing of the lifeboat systems on the Mærsk Giant jack-up rig currently positio
BP to slash jobs in UK North Sea
British oil giant BP has informed its UK North Sea staff that the company will be reducing its workforce as a response to toughening market conditions. In response, UK’s trade union RMT has issued a statement, warning of lasting damage to the UK’s long-term energy security from short term measures i
OSM Offshore to operate Mariner FSU
OSM Offshore Aberdeen Limited, a subsidiary of OSM Offshore AS and a member of OSM Maritime Group, has on January 9, 2015 agreed to enter into a long-term contract with energy company Statoil UK Limited to operate the Mariner Floating Storage Unit (FSU). The Mariner oil field lies within part-block
Deloitte: North Sea needs continued investment
The North Sea needs continued investment from businesses and government through its current period of transition, according to a new report from Deloitte, the business advisory firm. Deloitte’s Petroleum Services Group’s latest North West Europe Review, which details drilling, licensing, and deal ac
Total brings West Franklin Phase 2 on stream
Total has started gas and condensate production from the West Franklin Phase 2 project in the Central Graben area of the UK North Sea. The project will supply 40,000 barrels of oil equivalent per day (boe/d) to the Elgin/Franklin hub. “With the start-up of the West Franklin Phase 2 project, Total co
PA Resources wins another UK licence
PA Resources has announced further success in the UK’s 28th Seaward Licensing Round through the award of Block 21/24b to a group comprising of PA Resources (33.33 percent), First Oil and Gas (33.33 percent, operator) and Dyas UK (33.33 percent). To remind, PA Resources was previously awarded two blo
Wintershall hires VBMS for North Sea umbilical installation
VBMS, a strategic joint venture of VolkerWessels and Boskalis, has been awarded another contract by Wintershall Noordzee B.V. The scope of work includes the installation, burial, survey and pull-ins of an 18.5km control umbilical which connects the Ravn platform to A6-A, located in the Danish and Ge