Offshore & subsea - 24 February 2020

The contract is expected to start in April 2020.

The contract is with an unnamed major international oil company.

The subsea equipment market has gradually recovered since 2016, reaching over 300 awards of subsea trees in both 2018 and 2019 – three times more than in 2016, according to Rystad Energy.

The ratification paves the way for the conclusion of Somalia’s first Offshore Somalia License Round, with an expected closing date for submissions of bids at the end of 3Q20.

The scope of work entailed engineering and FEM calculations to prepare Jumbo’s ‘Fairplayer’ – a DP 2 heavy lift crane vessel – for an FPSO installation job offshore Brazil.

ADM will acquire 25% of the interests, rights and obligations held by EER (Colubus) Nigeria in OML 113.

Operator Aker BP plans start-up of the Skogul oilfield in the North Sea in March 2020.