Offshore news

The first phase of the plan to reduce emissions by 2030 means more than 5 million t in annual reductions, representing around 10% of total annual Norwegian greenhouse gas emissions today.

GMS will provide support for offshore activities on behalf of two Middle Eastern national oil companies.

The agreement is until end 4Q20, with options until 4Q21.

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.

With the successful Serenity discovery and remaining potential at Liberator, the company has begun planning a mid-2020, multi-well appraisal programme and is simultaneously conducting a farm-down process of its licences to potentially fund the 2020 drilling campaign.

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.