offshore

The charter agreement for the LNG-propulsion vessels is in line with Total’s Climate Ambition and will cut down on several emissions.

The number of units that have been cold stacked since 2016 are in the double digits. Reactivation costs for these rigs range from $40 million to $100 million. Given current rates and contract durations, most of these are unlikely to return to work.

In an updated projection, Rystad said that a breakeven of only $50/bbl is needed to produce 100 million BOPD in 2025, reflecting the reduction in oil-production costs.

DNV GL and floating production, storage, and offloading (FPSO) vessel specialist Bluewater are undertaking a pilot project to use hybrid digital twin technology to predict and analyze fatigue in the hull of an FPSO in the North Sea.

Akers BP said it will use lessons learned from the pilot and scale the remote-assist concept across its assets.

The FPSO will be capable of processing 90,000 B/D of crude, 75 million ft3/D, 120,000 B/D of water injection, and a storage capacity of 900,000 bbl of crude oil. First oil is planned for 2021.

With oil prices still low, Hess decided to sell a stake in one offshore project to help pay to develop a much larger one.

Equinor plans to cut its global exploration staff by 30% in the next 3 years and plans to drill 30–40 wells globally this year. Ongoing labor strikes have led to the operator shutting in four of its platforms.

The complete paper describes the hurdles that have prevented single-trip installation of upper and lower completions in the complex world of subsea and deepwater applications and examines the processes, technologies, and risk-mitigation steps that took a concept from pilot to successful deployment.

The complete paper describes the development and implementation of a glass-plug solution that closed the technical gaps that had previously inhibited fully intervention-free operation for completion installation.