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Suncor studies sale of North Sea oil and gas fields

Suncor studies sale of North Sea oil and gas fields   Canada’s Suncor Energy Inc. is exploring the sale of a handful of oil and gas fields in the North Sea, according to people with knowledge of the matter. Suncor is studying divesting the 30,000-barrel-a-day Golden Eagle Area on the U.K. side of the sea, the people said. Its 26.69 per cent stake could be valued at about US$400...

Tullow Gets Ugandan Government Approval for $575m Asset Sale

Tullow Gets Ugandan Government Approval for $575m Asset Sale   Tullow Oil Plc received approval from the Ugandan government for its $575 million sale of assets to Total SE, sending the shares up 17%. The beleaguered oil and gas explorer had been waiting since 2017 to close the divestment, an effort repeatedly stymied by tax disagreements. As it sought relief from lenders this year to avoid blowing through debt covenants, securing proceeds from the sale became key to restoring stabi...

Dvalin field given start-up approval

Dvalin field given start-up approval   The Norwegian Petroleum Directorate has issued consent for start-up of the Dvalin field in the Norwegian Sea. Operator Wintershall DEA estimates that it can recover 18 billion m3 of gas from Dvalin. The operator's investment projection for the development is approximately NOK 11 billion. Wintershall DEA expects to start up in November/December. The field is located in production licence PL435. It consists of two structures situated 3...

The Big Oil Side Hustle: Where 'Renewable' Money Is Really Going

The Big Oil Side Hustle: Where 'Renewable' Money Is Really Going   "It is unrealistic to suggest that renewables could replace conventional baseload fuels."--Gregory Boyce, former CEO Peabody Energy Corp., 2010. Every time an oil and gas major announces a major foray into renewable energy, the skeptics come out like clockwork and lambast the sector for merely trying to burnish its green credentials. Sometimes the criticism appears undeserved because the Oil Maj...

Stena Drilling finds more work for Stena Forth drillship. Pens deal with Intebloc

Stena Drilling finds more work for Stena Forth drillship. Pens deal with Intebloc   Offshore drilling contractor Stena Drilling has won a deal from Chinese oil company CNOOC for the use of one of its drillships offshore Canada. The company also started using Intebloc’s data management system. According to Bassoe Offshore, CNOOC hired the Stena Forth drillship for work in the Flemish Pass, offshore Newfoundland and Labrador. The drillship will drill one well in the Flemish...

Extinction Rebellion Scotland dumps mounds of manure outside BP Aberdeen offices

Extinction Rebellion Scotland dumps mounds of manure outside BP Aberdeen offices   Extinction Rebellion Scotland has dumped mounds of manure outside BP's Aberdeen offices, proclaiming that BP "can't be trusted." The protest marks the third week of non-violent direct action campaign 'Make The Connections' to highlight the threat of climate change across Scotland and "putting profit before people." And in today's bid to remind "local go...

QHSE ABERDEEN Ltd continue their planned growth with new appointment.

QHSE ABERDEEN Ltd continue their planned growth with new appointment.   Aberdeen firm QHSE Aberdeen have, in line with their business growth strategy, appointed Suzanne Ross as QHSE Advisor, to help them deliver on their new and existing contracts with their client base. Director - Angela Scott said “Choosing the right team members has helped our business reach new heights through innovation, inspiration and hard work and the appointment of Suzie will help us to diversify our...

Caspian Sunrise Buys Shallow Water Drilling Vessel

Caspian Sunrise Buys Shallow Water Drilling Vessel   Caspian Sunrise, an oil and gas firm focused on Kazakhstan, has completed the acquisition of the Caspian Explorer drilling vessel, marking the company's step into offshore drilling. The company, mostly focused on onshore oil and gas activities, had proposed the acquisition of the Caspian Explorer shallow water drilling vessel in January.  It on Monday said it had completed the acquisition of the vessel. The vessel is...

Preparing the onshore facilities for the Northern Lights project

Preparing the onshore facilities for the Northern Lights project   In connection with the Northern Lights project, Equinor has signed a contract with Skanska for building site preparation and the construction of jetty facilities for the CO2 receiving terminal. Equinor will also sign a lease agreement with CCB Kollsnes for the area for the temporary project office. “Today we move parts of the Northern Lights project to Kollsnes, allowing the necessary preparations for the deve...

PNOC-EC to start drilling activities off northwest Palawan in 2021

PNOC-EC to start drilling activities off northwest Palawan in 2021   The Philippine National Oil Co.-Exploration Corp. (PNOC-EC) is looking to start drilling activities for one of its petroleum service contracts (SC) covering an area off northwest Palawan in the last quarter of 2021. This comes as President Rodrigo Duterte has already lifted the moratorium on oil and gas exploration in the resource-rich West Philippine Sea. “With the lifting of the moratorium, part of our...

Oil Industry Turns to Mergers and Acquisitions to Survive

Oil Industry Turns to Mergers and Acquisitions to Survive   The once mighty oil and gas industry is flailing, desperately trying to survive a pandemic that has sharply reduced demand for its products. Most companies have cut back drilling, laid off workers and written off assets. Now some are seeking out merger and acquisition targets to reduce costs. ConocoPhillips announced on Monday that it was acquiring Concho Resources for $9.7 billion, the biggest deal in the industry since o...

Wood Mackenzie: how the energy sector is changing

Wood Mackenzie: how the energy sector is changing   Wood Mackenzie’s 2020 Energy and Commodities Summit Asia Pacific edition recently started, with experts sharing their views on how the energy sector is changing in light of the oil price crash, COVID-19 and the latest carbon-neutrality trends. Oil demand takes a hit; demand from petrochemicals bucks trend Global oil demand has been hit hard this year due to COVID-19 and changes in consumer behaviours. Research Analyst...

Digital Decommissioning Conference aims for international connectivity

Digital Decommissioning Conference aims for international connectivity   Decommissioning takes on a new global dimension as OGUK launches its first ever virtual conference to provide delegates with a dynamic, international and interactive online experience. Taking place from November 24-25, the event goes beyond the confines of traditional conferences to provide a digital platform with potentially global reach enabling participants to drive new conversations about decommissioning i...

Innovative Aberdeenshire Startup Wins National Award for Environmental Services

Innovative Aberdeenshire Startup Wins National Award for Environmental Services   Aberdeenshire start-up company, Legasea, have won the award for Best Energy Industry Environmental Service Provider 2020, making this their second award since establishing the company 18 months ago. Their award success recognises the innovative nature of the company, and the amazing progress the company has made in the short period since commencing trading. The Scottish Enterprise Awards recognise...

Shelf Drilling gets another jack-up suspension from Saudi Aramco

Shelf Drilling gets another jack-up suspension from Saudi Aramco   Offshore drilling contractor Shelf Drilling has received a suspension notice for one of its jack-up drilling rigs. Shelf Drilling said on Monday that an undisclosed customer sent the suspension notice for the Main Pass I jack-up rig. According to the company, the operations of the Main Pass I would be suspended for a period of up to 12 months. “The foregoing suspension at zero dayrate is effective Octobe...

New Zealand to keep oil drilling ban, renewables push

New Zealand to keep oil drilling ban, renewables push   New Zealand's ruling Labour party has won an outright victory in national elections, maintaining the country's ban on new offshore oil and gas exploration and setting the scene for a further expansion of renewable energy. The Labour party will be able to form a majority government in its own right after winning 64 of 120 seats in the 17 October election. It had led a coalition government for the previous three-year ter...

ConocoPhillips to buy Concho Resources for $9.7 billion in 2020's top shale deal

ConocoPhillips to buy Concho Resources for $9.7 billion in 2020's top shale deal   ConocoPhillips said on Monday it will buy Permian-focused driller Concho Resources Inc for $9.7 billion, the largest shale deal this year as oil and gas producers turn to consolidation to survive a slowdown in oil prices and demand. The all-stock deal comes as U.S. shale companies have posted big losses due to weak crude prices amid the COVID-19 pandemic and have struggled to raise new capital to...

Sharing data from Northern Lights well

Sharing data from Northern Lights well   The Northern Lights project will disclose datasets from the confirmation well 31/5-7 Eos drilled in the North Sea and completed earlier this year. Extensive amounts of data have been acquired through coring, logging, sampling and a production test. Equinor is developing the Northern Lights project with Shell and Total as equal partners. Willing to share knowledge in a transparent manner the Northern Lights projects partners have decided t...

Shell Deepwater selects Bentley’s digital twin platform

Shell Deepwater selects Bentley’s digital twin platform   Shell’s Deepwater business has selected Bentley Systems Inc.’s digital twin approach to streamline its capital projects process and accelerate time to first oil. The solution spans project conception in the early phase design through to handover. GT Ju, General Manager Gulf of Mexico Deepwater Projects, said: “Shell Deepwater Projects is developing an integrated workflow and data platform from syst...

TechnipFMC Awarded a Significant EPCI Contract for the Equinor Breidablikk Pipelay and Subsea Installation

TechnipFMC Awarded a Significant EPCI Contract for the Equinor Breidablikk Pipelay and Subsea Installation   TechnipFMC has been awarded a significant(1) Engineering, Procurement, Construction and Installation contract by Equinor for the Breidablikk Pipelay, including option for the Subsea Installation scope located in the area close to the Grane Field, North Sea. The Breidablikk project is a tie-back to the existing Grane platform. TechnipFMC’s scope includes provision of fl...
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