Offshore & subsea

SBM Offshore has announced that on December 19, 2017 it completed the project financing of FPSO Liza for a total of US$720 million.

Global Offshore will focus the staff, vessels and subsea equipment needed to meet the demands of oil & gas companies operating around the world.

ROVOP Limited, an independent operator of underwater remotely operated vehicles (ROVs), is to immediately increase its fleet by 50% to meet ongoing customer demand following a funding boost of £56 million.

Repsol has submitted a new Plan for Development and Operation (PDO) for the Yme field in the North Sea. More eight billion kroner will be invested in the development. The planned start-up is 2020.

The Noregian Petroleum Safety Authority has given Statoil Petroleum (Statoil) consent to use the Songa Enabler mobile drilling facility on the Snorre field.

The Petroleum Safety Authority Norway (PSA) has given its consent for ConocoPhillips Skandinavia AS (ConocoPhillips) to dispose of the Ekofisk 2/4 H, Ekofisk 2/4 A, Ekofisk 2/4 FTP and Ekofisk 2/4 Q facilities in the North Sea.

Merger and acquisition (M&A) activity on the UK Continental Shelf (UKCS) has surpassed US$8 billion this year in a clear sign that confidence is gradually returning to the basin, says Oil & Gas UK’s newly launched Market Insight.

The contract covers the provision of subsea equipment including umbilicals, risers, flowlines and the subsea production system for the Fenja Project (previously known as Pil & Bue). Fenja is located in the Norwegian Sea and will be tied back to the Njord platform.

The combined awards are valued at around US$60 million.

SM 71 F2 drilling ahead at 4895 ft MD after setting 10 3/4 in. surface casing at 3685 ft MD. Drilling is proceeding according to plan and the well will reach TD prior to the end of December.

The oil and gas industry has just 18 months to upgrade critical release hook systems on offshore lifeboats to meet new regulations imposed by the International Maritime Organisation (IMO) to improve safety at sea.

The transaction nearly triples Statoil’s production in Brazil, with attractive break-evens and potential for additional value creation for both parties through the application of Statoil’s expertise in improved oil recovery (IOR).

Aker BP has awarded Kvaerner a contract for delivery of the topside and steel jacket substructure for Valhall Flank West. This is the first project in the Wellhead Platform Alliance, which was established in the spring of 2017 between Aker BP, Kvaerner, ABB and Aker Solutions.

Project costs for subsea field reduced by more than 20%. Production in Norway to increase to more than 100 000 boe/d.

The Industry Technology Facilitator (ITF), in collaboration with Maersk Oil, Nexen, Shell, Siccar Point Energy, TechnipFMC and the Oil and Gas Technology Centre (OGTC), is leading a joint industry project (JIP) to investigate an alternative well foundation technology for subsea exploration and production wells.