Spending on floating production systems is expected to increase 73% in 2015-2019, with US$81 billion due to be spent over that period. Douglas Westwood analyst Ben Wilby sets the scene. BG Group’s Knarr FPSO…
In this video, Teekay Corp. gives a look inside of the Arendal Spirit accommodation rig. The Arendal Spirit is Teekay’s first unit for maintenance and safety (UMS). It has secured a three-year charter contract, including extension options…
Shell disconnected the Noble Discoverer drillship from its anchors in the Chukchi Sea after weather temporarily put a halt to its Arctic operations over the weekend. The Noble Discoverer. From Shell Flickr…
South Korean shipyard Hyundai Heavy Industries (HHI) has placed two contracts with Wärtsilä for seawater/propane based regasification modules. The systems are to be installed on FSRU (Floating Storage and Regasification Unit) vessels owned by Höegh LNG…
Statoil, operator of production license 72 B, is in the process of completing the drilling of wildcat well 16/7-11 on behalf of production licenses 72 B, 72 D and 72 E. This is the second exploration well in production license 72 B. The…
LUKOIL, a provider of marine lubricants, has expand its global supply network, opening a new warehouse in Gothenburg, Sweden, which will reduce lead time and increase flexibility when delivering lubricants to vessels calling at Scandinavian ports…
Floating production vessel operator BW Offshore has posted a 3% rise in operating revenues but says, which outsourced floating solutions remain an attractive option, the low oil price environment will see a reduction in orders that is expected to be prolonged…
Shell, the operator of the BC-10 field, has awarded a contract to Helix Energy Solutions Group’s robotics subsidiary, Canyon Offshore, to trench and bury over 40km of pipe in 1675m of water in the Campos basin offshore Brazil. The work…
Seadrill is keeping with its cost management program in part by delaying newbuilds, but still experienced a 7.8% decrease in revenue in 2Q 2015. The West Vela. From Seadrill. Currently…
Malaysia-based Bumi Armada Berhad saw a 22% decline in its revenue in 2Q 2015, but an increase in its EBITDA. Image from Bumi. The offshore oilfield service provider's revenue decreased by 22% to US$109 million (459…
Maersk Oil says it is planning to shut its Janice floating production unit (FPU) next year and change its offshore rotation system as it looks to reduce costs amid the falling oil price. About 200 onshore and offshore jobs could be lost as a result of the move…
Due to the weak market, Solstad Offshore will have up to 13 vessels laid up, in addition to reducing its workforce by approximately 300 positions, the Norwegian offshore service company announced in its 1H 2015 report. The Normand Pacific…
Statoil’s exploration and discovery efforts in the Gulf of Mexico are moving forward, as the Norwegian giant announced the spudding of the Yeti appraisal well earlier this month on 12 August. Transocean’s Discoverer Americas drillship…
Two people have died after a vessel under construction at Daewoo Shipbuilding & Marine Engineering Co. (DSME) caught on fire today (24 August) in South Korea, according to news reports. The Geoje Fire Station said a 39-year-old worker…
The Petroleum Safety Authority of Norway has granted Lundin Norway consent to drill two wells: one in the North Sea, and one in the Norwegian Sea. In the central North Sea, Lundin will drill the Rolvsnes prospect. The exploration well 16/1-25S…