Offshore/subsea systems
The North Sea project, which is sending production to the nearby Ivar Aasen platform, came online 9 months ahead of schedule.
Equinor said it found between 14 million and 24 million BOE with its most recent exploration well in the Polynya Tubåen prospect.
BP sanctioned development of the Kaskida in 2024, with first oil from the high-pressure project expected in 2029.
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Before the dream of a “subsea factory” can come true, a group of North Sea companies will need to see if the required technology is economically feasible to build. -
Technip Energies will work on a backlog comprising more than 50% in LNG-related business. Retaining the TechnipFMC name, RemainCo will generate nearly 90% of its revenue outside the US and Canada.
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Subsea advancements in the works include longer tiebacks, an underwater drone that lives on the seafloor, and a robotic manifold capable of actuating dozens of valves. Do these new capabilities, born of necessity, signal a sea change in industrywide technology development?
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The company’s new approach is designed to cut the time required to generate optimal subsea field layouts.
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After seeing a significant increase in the price level for subsea equipment, Equinor says it is realizing the ways in which standardized subsea templates help build financial competitiveness. The new standard allowed for the installation of 14 templates in one month.
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The completion of the subsea installation marks another major step for one of several projects scheduled to tie back to the Gjøa platform in the Norwegian North Sea. Production for the Wintershall Dea-operated project is expected to start up in 2021.
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In a $60 to $70 oil environment, the subsea market is poised to grow around 7% annually up to 2025. But a significant portion of this activity is at risk if the price of Brent crude falls to $50 per barrel.
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The subsea operations company said its most recent campaign is the first fully unmanned offshore pipeline inspection completed “over the horizon,” surveying up to 100 km from the shore.
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The subsea tieback is expected to start up in 2021. This is Shell’s second major development on a tieback in the US Gulf of Mexico, following Kaikias’ startup in May.
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Subsea completions for gathering hydrocarbons from subsea wells have demonstrated both environmental and economic benefits for offshore oil and gas projects. Barriers and opportunities for expanded use of subsea completions involve both technological and regulatory issues.
