As a major hurricane approaches, oil companies are evacuating their staff from the Gulf of Mexico.
On Monday, U.S. producers of oil scrambled to evacuate their staff from offshore oil fields in the Gulf of Mexico as the second major storm to hit in two weeks is predicted to ravage them. The U.S. National Hurricane Center stated that a potential Tropical Cyclone over the warm waters of the Gulf could rapidly intensify and become a major Hurricane with winds up to 115 mph (185 kph). According to the NHC, the storm, called Helene, would hit the U.S.
Hurricanes force oil companies to evacuate staff from the Gulf of Mexico
U.S. Oil Producers scrambled to evacuate their staff from Gulf of Mexico platforms on Monday as forecasters warned that the second major hurricane within two weeks would likely tear into offshore oil fields. The U.S. National Hurricane Center stated that a potential Tropical Cyclone System Nine, near the western tip of Cuba, was expected to intensify into a Hurricane on Wednesday as it moved across the eastern Gulf of Mexico.
Aramco Mulls Offshore Oil Expansions
Saudi Aramco is continuing to focus significant efforts on crude oil expansion. The major expansions at Saudi Aramco’s offshore oil fields of Marjan, Zuluf, Safaniyah and Berri are expected to comprise the majority of the company’s upstream investment over the next three years.According to GlobalData, five major expansion projects – four crude and one natural gas – are being planned…
E&P Companies Struggle on RoI
International exploration & production (E&P) are struggling to make money from offshore investments made during the latest investment upturn, according to a new study by Rystad Energy.Rystad Energy has evaluated all offshore oil fields sanctioned since 2010 and ranked them by estimated value per barrel of oil (boe) under various oil price scenarios. The return on investment (RoI)…
Damen Patrol Vessels for Offshore Nigeria
Damen recently delivered a pair of FCS 3307 high-spec patrol vessels to be operated by Homeland Integrated Offshore Services (Homeland IOS Ltd) in Nigeria, and now the boats are being prepared for their assignments. The boats will be deployed in the Gulf of Guinea to protect and support the offshore assets of Homeland’s clients which include many international oil companies.Features…
MOL, Mitsui Join in Modec FPSO Project
Mitsui O.S.K. Lines and Mitsui & Co have participated in a long-term charter business operated by MODEC for the purpose of providing a floating production, storage, and offloading system (FPSO) for use in the Area 1 block offshore Mexico and a loan agreement for the Project was entered into on April 12, 2019.Mitsui and MOL invested in Area1 Mexico MV34 B.V. ("MV34"), a Dutch company established by MODEC…
Qatar Buys Eni's Mexican Oil Stakes
Qatar Petroleum (QP) signed an agreement with Italy’s Eni SpA to acquire a 35% stake in three offshore oil Fields in Mexico.The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay, said a press statement from the Arab country's government-owned energy company.The agreement is subject to customary regulatory approvals by the government of Mexico.
ADNOC, Inpex in LNG Bunkering Pact
ADNOC Logistics & Services (ADNOC L&S), a wholly-owned subsidiary of UAE's ADNOC, has signed an agreement with Japan's Inpex Corp to collaborate on LNG bunkering activities.Under the agreement, ADNOC L&S and Inpex will explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions, including Southeast Asia…
Aquaterra Bags More Johan Sverdrup Work
Aquaterra Energy announced Thursday it has been awarded a contract by Equinor to deliver early well construction operations for the next 16 wells of the Johan Sverdrup field development in the Norwegian North Sea.The award follows Aquaterra Energy’s Phase I Tie-Back project for the engineering of nine complete strings of centralizers and tieback engineering services, which were delivered in Q3 2018.Under the new contract…
OMV Starts Offshore Oil Production in United Arab Emirates
Austria's OMV started production at Abu Dhabi's SARB and Umm Lulu's offshore oil fields, expecting to produce 25,800 barrels per day by year-end, it said on Thursday.The gas and oil group took a 20 percent interest in the two oilfields off the United Arab Emirates under a $1.5 billion deal agreed with the Gulf state's national oil company ADNOC in April.OMV will initially produce 10,000 barrels per day and expects to increase its output to 43,000 barrels per day by 2023.
Galp to Start Drilling Exploration Well Offshore Portugal
Portuguese oil company Galp Energia is set to start drilling the country's first deep water offshore exploration well later this year but with only modest hopes of success, its exploration and production director said on Monday.The project, being developed by a consortium of Galp and Italy's ENI off the Alentejo region's Vicentine coast, known for its beaches and large natural park…
Exxon Leads Oil Majors in Aggressive Offshore Brazil Bids
Exxon Mobil Corp roared into Brazil's prolific offshore oil fields again on Thursday, clinching eight blocks in partnership with other oil firms eager to lap up the country's choice reserves ahead of presidential elections later this year. Exxon along with Petrobras and Qatar Petroleum Intl shelled out 2.8 billion reais ($844 million) for a block in Brazil's offshore Campos basin as the American oil major seeks to aggressively replace dwindling reserves.
Petrobras Mulls Refining Assets Sale
Petroleo Brasileiro SA remains undecided about the sale of some refineries, a sign Brazil's state-controlled oil company might be leaning toward forming partnerships by offering stakes in some of them, a person with direct knowledge of the matter said on Thursday. The person said Boston Consulting Group Inc had been analyzing potential scenarios for the company's refining operations over the past couple of years, and recently suggested several alternatives for the unit.
Brazil Court Allows Petrobras to Sell Sergipe, Ceará Offshore Fields
A Brazilian court has ruled that state-controlled oil company Petróleo Brasileiro SA can continue a process to sell several offshore oil fields in the country's northeastern region. In securities filing on Monday, Petrobras said the Federal Regional Tribunal of the Fifth Region's decision allows the company to proceed with the sale of fields in the states of Ceará and Sergipe, although a final decision lies on a federal auditing court.
Oil Workers Reject Petrobras Offer, Strike Possible
Brazil's largest oil workers' federation said Thursday its members voted overwhelmingly to reject a contract offer from Petroleo Brasileiro SA, or Petrobras, and were preparing for a possible strike. Leaders of the FUP union plan to continue talks with Petrobras starting at 2 p.m. (1700 GMT) in Rio de Janeiro and have not yet called on workers to walk off the job. In recent years…
Barometer of Shale Oil Industry's Health Warns Agony to Worsen
The latest blow to the energy industry's collective psyche has been inflicted by National Oilwell Varco Inc, with the giant oilfield equipment maker warning the pace of drilling and fracking will only slow more as 2016 drags on. A 70 percent drop in crude prices since mid-2014 has affected not only NOV but dozens of others throughout North America's oil patches, prompting tens of thousands of layoffs…
Brazil Regulator Sets Rules for Petrobras Oil Fields Rights Renewal
Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said. Financially troubled Petroleo Brasileiro SA or Petrobras, the world's most-indebted oil company, has said it wants to renew…
DOI Issues FSEIS for Chukchi Sea Lease Sale
The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. The FSEIS updates the Bureau of Ocean Energy Management’s (BOEM) estimates of the full range of production levels from…
Greenpeace Targets Russian Tanker at Rotterdam Port
Mikhail Ulyanov, an ice-breaking shuttle tanker (ice class – ARC6) belonging to OAO Sovcomflot (SCF Group), has been the subject of a Greenpeace protest, while at the Port of Rotterdam carrying a cargo of 67,000 tons of crude oil, loaded on the continental shelf of the Pechora Sea, Russia. “We are extremely disappointed that our vessel has been the subject of an irresponsible publicity stunt by Greenpeace…
Saipem: A Fleet Grows in Brazil
As some pre-salt plays begin production, a wide range of subsea infrastructure is being built, with O&G transportation pipeline grids being one of the vital downstream systems. Saipem has been recipient of the first major contracts to install deepwater pre-salt pipelines by national operator Petrobras. Claudio Paschoa, Maritime Reporter’s correspondent in Brazil brings us an in-depth look at Saipem’s vessels and projects in Brazil.
