Tyra II Production Successfully Restarted
The Tyra Redevelopment Project (Tyra II) has restarted production. At plateau, the Tyra hub will produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day.TotalEnergies operates the Tyra field on behalf of Danish Underground Consortium, a partnership between TotalEnergies (43.2%), BlueNord (36.8%) and Nordsøfonden (20%).The Tyra Redevelopment Project is, to date…
LR Bolsters Well Management Team
Lloyd’s Register announced it has made several key appointments to its wells engineering and project management consultancy following a series of major contract wins and global growth.John O’Neill brings more than 25 years’ experience in global wells projects to the newly created position of Head of Wells Delivery. Having worked predominantly across the North Sea and Middle East for BP…
Total Cuts 200 Jobs in Denmark
French oil major Total SA said on Thursday it would cut 200 jobs in Denmark as part of the redevelopment of the Tyra gas fields in the North Sea.Total, which bought A.P. Moller-Maersk's oil and gas business in 2017, will shut production at the Tyra gas fields at the end of 2019 as part of a major redevelopment."Unfortunately, the changes mean that a number of valued colleagues will leave us…
Occidental Agrees to Sell Anadarko Assets to Total
Texas-headquartered Occidental Petroleum has reached an agreement to sell Anadarko Petroleum's oil and gas assets in Africa to French oil major Total for $8.8 billion.The binding agreement with Occidental to acquire Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) is contingent on a successful completion of Occidental’s ongoing bid for Anadarko.Wood Mackenzie research…
Total Buys out Chevron Denmark
French oil and gas major Total has agreed to take all of Chevron’s share capital in the Danish Underground Consortium (DUC), which will increase its stake in the project and expand its North Sea presence."Total has agreed to purchase from Chevron all the share capital of Chevron Denmark Inc. which holds a 12% interest in the Danish Underground Consortium (DUC), a 12% interest in Licence 8/06, and a 7.5% interest in the Tyra West pipeline.
Total Buys Chevron's Interest in Danish Underground Consortium
French oil and gas major Total said it has agreed to take all of Chevron's share capital in the Danish Underground Consortium (DUC), which will increase its stake in the project and expand its North Sea presence.The acquisition comes a day after Total announced a major gas discovery on the Glendronach prospect, located off the coast of the Shetland islands in the North Sea."Following the completion of the Maersk Oil acquisition…
Denmark Swings to Net Oil Importer as North Sea Production Dips
A 25-year period for Denmark as a net oil exporter is set to end this year following output declines in the North Sea, the country's energy agency said on Thursday after slashing its long-term oil production forecast.The Danish Energy Agency expects this year's oil production to reach 128,000 barrels per day (bpd), down from 138,000 bpd last year and 10 percent lower than an estimate…
Maersk to Spin off Drilling, Hand Total Shares to Investors
A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics.Maersk, which cut its full-year profit outlook this month, sold Maersk Oil to French oil major Total last year in a $7.5 billion deal as part of a restructuring under Soren Skou…
CGG Names Baidoukov CFO
CGG has appointed Yuri Baidoukov as Group CFO, effective September 1, 2018. He will be based in Paris and report to the Chief Executive Officer, Sophie Zurquiyah.Baidoukov brings to the role 25 years of international oil and gas industry experience. He is currently Group CFO at OiLSERV Group, a Middle East and North Africa Oilfield Services company. Prior to this, he was CFO of Maersk Oil US, and Group CFO of Integra Group, a CIS oilfield services company.
EnerMech Obtains $24m Service Contract
EnerMech Get $24m Contract Lift. EnerMech has secured a cranes and lifting services contract with an international Operator in the North Sea along with an extension of many existing contracts worth just over $24m. The company will provide crane maintenance and crane management to three North Sea platforms on behalf of the new client. The five year contract includes offshore crane maintenance and operation…
Total's North Sea Oilfield Workers Hold Strike Ballot
Britain's biggest labour union is balloting rig workers at three of Total's North Sea oil platforms over a potential strike due to the company's refusal to reduce the number of unpaid working days, the union said on Wednesday.After the oil price crash in 2014, the workers agreed to work an extra 14 days unpaid to help the company during the downturn, Wullie Wallace, regional officer of Unite the Union said.However…
PDi Celebrates a Decade in Decommissioning
This year, Project Development International (PDi) Ltd., part of the Tattva Group, celebrates a decade of activity within the decommissioning sector. As a provider of multi-disciplined engineering, project management and project services to the international energy industry, PDi has worked with multiple clients since 2008, successfully completing more than twenty decommissioning workscopes.Recently…
Offshore Energy: Semco to Prep Rig Floatel Victory for Action
Semco Maritime has won the contract to upgrade the Floatel Victory accommodation rig. Following the upgrade, the rig will sail out to undertake a contract in the British sector of the North Sea for Maersk Oil UK. Floatel Victory, owned by Floatel International, is expected to call at the Semco Maritime rig yard at Hanøytangen, Bergen, at the beginning of June after expiry of current contract with BP. ”We are pleased that Floatel International has chosen us for the assignment.
Maersk Likely to Shelve Plans to List Drilling Division
Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling, and extend the timeline to divest the unit beyond its initial target of the end of 2018, said the sources…
Maersk Establishes Decomissioning Company
A 50/50 joint venture (JV) between Maersk Drilling and Maersk Supply Service will provide decommissioning services to oil and gas operators. After decades of production, an increasing amount of offshore oil and gas fields are approaching the end of their economic life. In the North Sea alone, more than 400 fields are expected to cease production by 2026 at an estimated cost of $56 billion. Globally, more than 700 fields are expected to require decommissioning.
Shell Names Former Maersk Oil CEO Watkins as Next U.S. Boss
Royal Dutch Shell's U.S. boss, Bruce Culpepper, will step down at the end of the year and will be replaced by former Maersk Oil chief executive Gretchen Watkins, the company said in a statement on Tuesday. Shell's head of unconventionals, Greg Guidry, who oversees the Anglo-Dutch company's shale production in North America and Argentina, will step down on June 31, when he will be replaced by Gretchen.
Sale of Maersk Oil to Total Complete
A.P. Møller - Mærsk A/S [A.P. Moller - Maersk] has received all regulatory approvals and has today completed the sale of Mærsk Olie og Gas A/S [Maersk Oil] to Total S.A. [Total], which was announced on 21 August 2017. A.P. Moller - Maersk has transferred its shares in Maersk Oil to Total and as consideration received 97.5 million Total shares equalling USD 5.6bn as of 7 March 2018.
Total Acquisition of Maersk Oil to Close this Week
Total Patrick Pouyanne said on Monday he expected his company's acquisition of Maersk Oil to close on March 8. Speaking at CERAWeek, Pouyanne also said Total's Phase 11 South Pars gas field development in Iran was progressing as planned. Reporting by Ron Bousso
Big Oil Takes Stage for Post-austerity Beauty Contest
With years of austerity in their rear-view mirrors, the world's biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil, the biggest publicly traded oil company, has largely disappointed with a weaker outlook.
Statoil Raises Dividend, CapEx as Oil Sector Rebounds
Stock is best performer of European oil index. Norway's Statoil will raise its dividend, investments and exploration spending in 2018, it said on Wednesday, after higher oil prices helped it beat fourth-quarter earnings forecasts. Like other oil companies, Statoil is also benefiting from efficiencies it pushed through during the sector's downturn, when firms were forced to slash jobs, projects and investment.
