Offshore & subsea

The project included the subsea inspection of three large conventional jacket structures off the coast of California.

Lekoil 310 Limited, a wholly owned subsidiary of LEKOIL, has entered into a binding loan agreement with the Qatar Investment Authority, the sovereign wealth fund of Qatar, in the amount of US$184.0 million.

While net pay was lower than pre-drill forecasts, the company has said that the 27 degree API oil supports the significant potential of the Cretaceous play on both the Kanuku and adjacent Orinduik licences.

The work is expected to commence in early January 2020 and will continue through most of 1Q20.

CGG has agreed to transfer its 40% shareholding in Seabed Geosolutions to Fugro before the end of 1Q20.

Under the terms of the agreement, Apache and Total will each hold a 50% working interest in Block 58, which comprises approximately 1.4 million acres in water depths ranging from less than 100 m to more than 2100 m.

The acquisition includes acreage in the 1.2 million North Marakia Offshore block, which is located approximately five miles offshore Egypt’s northern coast in the Herodotus basin.

The Leviathan field was discovered in 2010, and the initial development phase was sanctioned in 2017.

Marine services company Malin Group has appointed oil and gas expert Alan Hunter in a new business development role.

EM&I has used its NoMan remote camera technology for inspections of difficult to access to areas, including on an FPSO in New Zealand.

Located at the company’s Kirkbymoorside base in North Yorkshire, UK, the pressure test tank is one of the largest in Europe and provides a well-located facility for the critical testing of subsea equipment.

N-Sea has reported an increase in sales with contract wins with new clients.

The €5 million fixed rate 5-year bond offer was fully subscribed as the offering attracted strong demand from the investors.

The study will cover an area of approximately 80 000 km2 of the offshore Niger Delta and will incorporate around 150 cores from the seabed.

The production of oil from Layang is estimated at approximately 3000 bpd, and an estimated 10 000 boe/d with natural gas combined.