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Iqarus develops potentally life-saving service during pandemic

Iqarus develops potentally life-saving service during pandemic   Global healthcare provider Iqarus, an International SOS company, has developed and launched a new service to safely manage suspected cases of coronavirus following their disembarkation from an offshore location.  The new service, Covid 19 Medevac (CMED), includes assessments to determine if a worker is fit to trav...

COVID-19 and oil price war could derail two-thirds of the world’s oil & gas project sanctioning in 2020

COVID-19 and oil price war could derail two-thirds of the world’s oil & gas project sanctioning in 2020   The effect of the COVID-19 virus on global demand for oil and gas, along with an ongoing price war that has sent oil prices tumbling at an unprecedented rate, are poised to wreak havoc on new project development plans for this year. According to an impact analysis from Rystad Energy, exploration and production (E&P) companies are likely to reduce project sanctioning...

Oil & gas digital platform secures an additional £1.8m investment

Oil & gas digital platform secures an additional £1.8m investment   A digital platform which could revolutionise the way in which the upstream oil and gas industry resources projects has secured £1.8m of private investment. The brainchild of new start-up technology firm, Xergy, Proteus is a cloud-based work management system that allows companies to find the right people for projects as and when they are needed and by enabling remote-working allows a genuine freelan...

Aker lands 20-year umbilicals master order with Chevron

Aker lands 20-year umbilicals master order with Chevron   Aker Solutions has entered a master agreement to provide umbilicals for Chevron-operated oil and gas fields in the US Gulf of Mexico. The company also secured the first work order under the new master agreement, to provide 15 miles of umbilicals for Chevron’s Anchor project. The scope of the Chevron agreement includes the delivery of engineering, design and manufacturing of dynamic and static control umbilicals, dynami...

Re-Gen Robotics triumphs at 2020 Global Tank Storage Awards

Re-Gen Robotics triumphs at 2020 Global Tank Storage Awards   Re-Gen Robotics lifted the Safety Technology Award at the 2020 Global Tank Storage Awards, in Rotterdam on the 10th of March 2020, for revolutionising safety in the tank terminal industry. Headquartered in Newry, the robotic tank cleaning company was up against eight established tank terminal industry behemoths, but their fully integrated, no man entry, robotic technology was awarded for ‘adding an additional layer...

North Sea Saturation Divers Set to Undertake The ‘World’s Toughest Rowing Challenge’ Across the Atlantic Ocean

North Sea Saturation Divers Set to Undertake The ‘World’s Toughest Rowing Challenge’ Across the Atlantic Ocean   In December 2020, a crew of four men, ‘The Bubbleheads’ will board an ocean rowing boat and attempt to race – unaided - across the Atlantic Ocean, the second largest ocean in the world, for the Talisker Whiskey Atlantic Challenge. The Bubbleheads are no strangers to challenging situations; all four men are North Sea saturation divers,...

Tenaris Cutting 900+ Employees

Tenaris Cutting 900+ Employees   Tenaris revealed late last week that it will be cutting more than 900 employees in the United States due to the “abrupt, sharp decline in the price of oil and subsequent decrease in market activity”. The company said workers at its Koppel and Ambridge facilities had been informed that operations at the two plants will be suspended effective March 31. Tenaris outlined that it will also be suspending operations at its threading plant in Br...

Xodus sees major growth in cable services

Xodus sees major growth in cable services   International energy consultancy Xodus Group has recorded a major increase in the provision of services related to subsea power cables over the last twelve months. The number of new assignments grew by more than 50%, resulting in more than 70 active work streams in 2019. This has allowed Xodus to increase its number of specialists in this area, now totalling more 30 permanent staff with subsea cables experience. This team covers a rang...

Drilling permit activity slows down amid record low oil prices

Drilling permit activity slows down amid record low oil prices   Drilling permit activity is slowing across Texas as oil prices crash to near $20 per barrel. More than 900 exploration and production companies filed an average of 230 drilling permits per week in 2019, Railroad Commission of Texas data shows. That activity has slowed down this month during the price war between Russia and Saudi Arabia, as well as weakened demand from the coronavirus outbreak. From March 4 to 11...

Yme project on course for first oil in second half of 2020

Yme project on course for first oil in second half of 2020   OKEA has said that the Yme offshore project in the Norwegian North Sea remains on schedule for first oil in 2H20. The company is to work with the operator, Repsol, and the other joint venture (JV) partners (LOTOS and KUFPEC) to understand and mitigate the impact that restrictions (particularly travel restrictions) caused by the Covid-19 pandemic may have on the project. The company has put in place a series of measures de...

Specialist acquisition strengthens ASCO's NORM Services

Specialist acquisition strengthens ASCO's NORM Services   ASCO, the global integrated materials and logistics management company, has acquired full ownership of NORM Solutions Ltd, a leading provider of specialist cleaning, treatment and disposal services for oilfield equipment contaminated with Naturally Occurring Radioactive Materials (NORM). The acquisition reflects ASCO’s overall strategy to continually strengthen its specialist waste and decommissioning capabilities...

Aker BP suspend projects and cuts expenditure

Aker BP suspend projects and cuts expenditure   Norwegian offshore E&P firm Aker BP has suspended non-sanctioned field development projects including the Hod redevelopment project in the Valhall area in response to the high uncertainty caused by the coronavirus. Aker BP said the suspension represents a capex reduction of 20% compared to previous guidance and it estimates a reduction in capital spend of $1-2bn during 2021-2022. The company also reduced exploration spending by 20...

Eni, Falck formally create JV to work on 1 GW of US renewables

Eni, Falck formally create JV to work on 1 GW of US renewables   Italy's Falck Renewables SpA has finalised its strategic agreement with oil and gas major Eni SpA to jointly develop at least 1 GW of onshore wind, solar and energy storage projects in the US by end-2023. Under the established partnership, the two companies, through their units Falck Renewables North America Inc (FRNA) and Eni New Energy US Inc (ENE US), are creating a 50/50 joint venture (JV), Falck announced on...

Russia blames Gulf countries for crisis in global oil markets

Russia blames Gulf countries for crisis in global oil markets   Russia said that the Gulf countries are to blame for the crisis in the world oil markets. According to Andrei Belousov, Russia's first deputy prime minister, Russia had never sought a sharp drop in oil prices or an end to cooperation with OPEC. In early March, Russia and OPEC could not agree on how their agreement on reducing oil production should work. OPEC wanted to expand the cuts to oil production, while Moscow...

Update: Oil and Gas Listed as Important Social Function in Norway

Update: Oil and Gas Listed as Important Social Function in Norway   Based on information from the Petroleum Safety Authority Norway, oil and gas industry employees in Norway did not fall under the "critical social functions" category. The offshore regulator said at the time was responding to an increasing amount of queries, given that the government has earlier this week imposed quarantine and isolation rules, closed kindergartens, schools, and universities, banned public...

Azerbaijan Could Soon Tap Its 410 Million Barrel Oil Reserves

Azerbaijan Could Soon Tap Its 410 Million Barrel Oil Reserves   Azerbaijan says it has proven an oil deposit in the Caspian Sea is commercially viable, offering a small psychological boost as the country’s oil-based economy wilts under international price shocks. The state oil company, SOCAR, said in a March 19 press release that the Karabagh field some 100 kilometers offshore holds more than 60 million tons of crude (about 410 million barrels). The price of oil has fallen...

BP Foundation commits $2 million to WHO’s COVID-19 pandemic response fund

BP Foundation commits $2 million to WHO’s COVID-19 pandemic response fund   The world is rallying together to support the dedicated doctors, nurses and other health care workers leading the response to the Coronavirus pandemic and BP is proud to play our part by contributing to the World Health Organization (WHO). The BP Foundation will donate $2 million USD to the WHO’s COVID-19 Solidarity Response Fund, which supports medical professionals and patients worldwide by pr...

Oil prices should reach about $35-40 per barrel - Russia’s first deputy PM

Oil prices should reach about $35-40 per barrel - Russia’s first deputy PM   Oil prices should reach about $35-40 per barrel, Russian First Deputy Prime Minister Andrei Belousov said in an interview with the ‘Vesti v Subbotu’ (News on Saturday) program on the Rossiya-1 TV channel. "My estimation is that [the prices] will adjust at the level of about $35-40. There are other estimations, namely by the Russian Ministry of Energy, that it will be higher, over $40...

History’s largest oil glut months away from topping world storage while tanker freight rates explode

History’s largest oil glut months away from topping world storage while tanker freight rates explode   The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10 million barrels per day (bpd). An exclusive Rystad Energy analysis shows global storage infrastructure is in trouble and will be unable to take more crude and products in just a few months. Our current liquid balances sho...

Tracerco awarded deepwater subsea inspection project

Tracerco awarded deepwater subsea inspection project   Tracerco, part of Johnson Matthey Plc, has recently been awarded a deepwater subsea inspection project to assess the integrity of a new pipelay in the Gulf of Mexico (GoM). As a method of ensuring maximum value and profitability, whilst safeguarding operational personnel and the environment, the operator will deploy DiscoveryTM, Tracerco’s Subsea CT Scanner, to obtain critical baseline integrity data on the new pipeline s...
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