Offshore news

A study by Rystad Energy has concluded that offshore projects sanctioned between 2010 and 2012 have barely been able to generate any value for E&P companies.

Under the revised plan, estimated gross production from Ruche phase 1 offshore Gabon is forecasted to double from 15 000 bpd to 30 000 bpd.

The contract is with Serica Energy and is expected to commence in 4Q20.

FAR has said it believes the project will deliver the company a net 13 670 bpd of oil production at US$$11/bbl OPEX, with an unlevered project internal rate of return in excess of 30%.

The sale includes Total's stake in Block CA1, located 100 km off the coast of Brunei.

Following completion of the latest work for i3 Energy, the Borgland Dolphin will go straight to the Knarr field on the Norwegian Continental Shelf.

The survey will employ one Shearwater vessel and cover approximately 7300 km2 of the highly prospective Malvinas Basin, with operations set to commence in 4Q19 and run until 2Q20.

Esox-1 was drilled in 4609 ft (1405 m) of water and encountered approximately 191 net ft (58 m) of high quality oil bearing Miocene reservoirs.

The project duration is approximately two months and is scheduled to commence in 4Q19.

Findings from OGUK’s Health and Safety Report 2019 reveal that offshore helicopter operations were conducted without an accident last year, and the fatal accident rate per 100 000 flying hours dropped to zero for the first time since 2001, despite flying hours increasing by 12% to 77 286 in 2018.