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First gas from the Cassia C platform, which will help maintain production rates to the Atlantic LNG terminal, is expected in 2021. The Matapal project, which will tie back to the Juniper platform, will come on stream in 2022. -
The blockchain-based automated system pilot is expected to integrate oil and gas production, providing a platform for the tracking, validating, and execution of transactions at every stage of the project life cycle.
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Westwood forecasts a recovery in the subsea market backed by a new wave of offshore investment. Subsea vessel operations and hardware expenditure are expected to total $152 billion from 2019 to 2023.
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The deal gives Equinor an additional 7.5% ownership stake in the Njord redevelopment project and associated tiebacks in the Norwegian Sea, and potentially raises Faroe’s value in the midst of a hostile takeover attempt by DNO.
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An influx of new investment and operational efficiencies borne out of the oil price downturn have led to a drop in projected decommissioning costs. Decommissioning multiple wells in one campaign helped some operators achieve time savings of 33% per well.
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A report from Rystad Energy shows a near-term boost in the global floating production market, with more than 30 new FPSO projects possibly reaching sanction from 2019 to 2021.
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A shut-in subsea flowline is believed to be the source of the spill on Husky Energy’s SeaRose FPSO offshore Newfoundland and Labrador. The spill is believed to be the largest in the history of the Canadian province.
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The agreement calls for the two companies to partner on techno-economic feasibility studies and jointly assess investment opportunities across the LNG value chain.
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A deal with the UK-based energy and chemicals company could fetch up to $3 billion for ConocoPhillips, which is transitioning out of the North Sea to focus on US shale operations.
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The deal would raise nearly $4 billion for GE, which plans to reduce its stake in the oilfield services company from 62.5% to at least 50.1% after the transactions. It had previously announced in June its intention to sell its stake over a 2- to 3-year period.
