Oil & gas news

The decision authorises the construction of a floating production, storage and offloading (FPSO) vessel, the first new manned installation for Shell in the northern North Sea in almost 30 years.

The two companies have completed the transfer of rights in Lapa and Iara concessions.

The work will be performed with the subsea vessel Havila Subsea from early February onwards.

Aker BP has a strong cash flow outlook and a robust balance sheet with a US$2.9 billion liquidity reserve, enabling the company to increase dividends for 2018 to US$450 million, and further strengthen its position as the leading independent E&P company offshore.

Site activities have been suspended pending repairs and are expected to resume mid-February.

The consideration for the transactions amounts to US$1.95 billion, including closing adjustments.

Early production from the Catcher field in the North Sea is expected to be approximately 10 000 bpd.

Roxtec UK managing director Clive Sharp said the firm has supplied a range of specialist transits to secure cable entries, building wall penetrations and onshore facilities across the site.

It is introducing over 180 additional part numbers in outer diameters from 1 to 12 in.

Gavin Booth joins the company as sales manager for UK and Holland while Thomas Karlsen is welcomed as sales manager of Scandinavia. The duo bring more than 20 years of oil and gas experience to Pipetech.