• Petrofac opens Aberdeen “Innovation Zone”

    December 12, 2018

    Petrofac has created a technology Innovation Zone in its Bridge View offices in Aberdeen. The “immersive workspace” was opened by Minister for Energy, Connectivity and the Islands, Paul Wheelhouse MSP, on 11 December. The area has been created to allow clients, suppliers, and technology specialists to collaborate with new technologies, and is based on Accenture’s Industry X.0 practice. Users can also experience first-hand the technologies being developed and adapted by Petrofac in collaboration with clients and other parties. Mobile, wearable technologies, such as tablets and hard hats with voice-controlled ruggedized computers attached, were demonstrated at the opening. These allow offshore workers to ...
  • Azinor Catalyst receives LOI for three exploration wells

    December 10, 2018

    Azinor Catalyst has received a Letter of Intent (LOI) for the acquisition of non-operated interests in three exploration wells planned for 2019. The three independent prospects – Boaz, Goose and Hinson – are estimated to contain combined gross unrisked prospective resources of 495 million barrels of oil equivalent. The company says preparations for drilling these wells is now underway. Read more…  
  • Premier Oil completes Babbage Area sale

    December 7, 2018

    Following the receipt of necessary approvals, Premier Oil has announced the completion of sale of its interests in the Babbage Area to Verus Petroleum. Premier received £30.3 million ($38.7 million), after adjustments, for Babbage cash flows collected by Premier since the effective date of 1 January 2018. In addition, Verus will take on exploration commitments valued at around $24 million. Production from Babbage has averaged 2,500 barrels of oil equivalent per day over the year to date. Read more…  
  • Sparrows signs five-year servicing deal with Pemex

    December 6, 2018

    Sparrows Group has signed a five-year blanket order with Pemex Procurement International, acting on behalf of Pemex Exploracion y Produccion (PEP), to service 41 cranes across assets in four of the national oil company’s developments. As the original equipment manufacturer (OEM), the first cranes were delivered by Sparrows in the early 1990s to support production in the Kumaza (AS01-02), Abkatun (AS02-03), Litoral (AS02-04) de Tabasco and Cantarell (AS01-01) fields. Read more…  
  • Apache achieves first oil at Garten development

    December 5, 2018

    Apache Corporation has initiated production from its Garten development on Block 9/18a Area-W in the UK North Sea. The discovery well, located 6 km south of the Beryl Alpha Platform, was placed on production in late November, less than eight months after being drilled in March 2018. The well is currently producing at a rate of 13,700 barrels of oil per day and 15.7 million cubic feet of gas per day. Recoverable resources are expected to exceed 10 million barrels of light oil plus associated natural gas. The Garten field, in which Apache holds a 100% working interest, is tied back to ...
  • EnQuest completes Magnus acquisition

    December 4, 2018

    London and Stockholm-listed EnQuest has completed its acquisition of the remaining 75% interest in the Magnus oil field and an additional 9% interest in the Sullom Voe oil terminal and supply facility from BP. The deal also includes additional interests in associated infrastructure, as set out in its initial 7 September announcement. As outlined at the time, the addition of Magnus is expected to add 60 million barrels of oil equivalent in 2P reserves, 10 million boe 2C resources and approximately $500 million of net present value (NPV) to the group. EnQuest now has a 100% equity stake in Magnus, 15.1% in ...
  • INEOS, Spirit complete Clipper South project

    November 30, 2018

    INEOS Oil & Gas UK has completed a project to re-route production from its Clipper South field via the Shell-operated Clipper field into the Bacton processing terminal. Working with joint venture partner Spirit Energy, the $80 million investment in a new pipeline and subsea equipment will extend the life of the Clipper South field, following the closure of the existing facilities at the Theddlethorpe Gas Terminal in October, previously operated by ConocoPhillips. Read more…  
  • READ Cased Hole expands in US with key acquisition

    November 30, 2018

    Aberdeen-headquartered READ Cased Hole Ltd has acquired US-based well integrity specialist, Proactive Diagnostic Services (PDS). PDS was founded in 1995 to offer memory well-logging services to the Alaska region. Today the business has grown to service customers throughout the Lower 48 and Gulf of Mexico, providing surface readout and memory diagnostic technologies, data analysis, and proprietary software. The strategic acquisition positions READ as a leading independent global provider of production logging, well integrity and reservoir evaluation services to the oil and gas industry. The company is now better placed than ever before to support international operators, with best-in-class downhole technologies and data ...
  • New appointment bolsters Xodus decommissioning expertise

    November 29, 2018

    Energy consultancy Xodus Group has strengthened its decommissioning team with the appointment of Gareth Jones as Decom Lead. Jones’ role will include advising and supporting operators in relation to environmental and societal impacts associated with decommissioning. The appointment follows a successful year for Xodus’ decommissioning division, which has secured several new clients and won £2 million of work in 2018. The division has undertaken more than 100 decommissioning projects globally so far, ranging from M&A due diligence and commercial advice, to training and detailed planning and approvals for decom execution. Read more…  
  • Scottish Government awards £2.5 million to decommissioning

    November 28, 2018

    Speaking at the Decom North Sea Conference in St Andrews, Scotland’s Energy Minister Paul Wheelhouse reveals that the Scottish Government’s Decommissioning Challenge Fund (DCF) will award a further £2.5 million to decommissioning projects. The DCF, launched by the Scottish government in February 2017, supports infrastructure improvements and innovation to deliver decommissioning of North Sea oil and gas infrastructure. Read more…