UK Offshore’s Big Challenge: Growing While Plugging More Wells Than They Drill
The outlook in the UK is a case study of the squeeze facing E&P in other basins where operators are trying to pay to sustain production with discoveries, while plugging and abandoning old wells, all paid for by the lean cash flow due to low oil prices.
Dawn of the Drone: A New Method for Delivering IRM Services Subsea
Subsea inspection/repair/maintenance services have traditionally relied on vessel-based, ROV, or diver operations. In the longer term, identifying significant incremental savings in these operations is not sustainable and an innovative approach deploying digital technologies is being investigated.
Equinor, Faroe To Swap Norwegian Offshore Assets
The deal gives Equinor an additional 7.5% ownership stake in the Njord redevelopment project and associated tiebacks in the Norwegian Sea, and potentially raises Faroe’s value in the midst of a hostile takeover attempt by DNO.
Apache Begins Production at Garten in UKCS
Startup comes 8 months after the initial discovery in March, marking the second successful tieback since 2017 to the Beryl Alpha platform in the UK North Sea.
UK North Sea Decommissioning Costs Projected To Drop
An influx of new investment and operational efficiencies borne out of the oil price downturn have led to a drop in projected decommissioning costs. Decommissioning multiple wells in one campaign helped some operators achieve time savings of 33% per well.
Ineos Enters Exclusive Talks for ConocoPhillips North Sea Assets
A deal with the UK-based energy and chemicals company could fetch up to $3 billion for ConocoPhillips, which is transitioning out of the North Sea to focus on US shale operations.
Equinor Announces Cost Increase, Delayed Startup for Martin Linge
The North Sea field, which holds an estimated 300 million BOE in recoverable resources, is now scheduled to start production in early 2020. Operator Equinor said the timeline was based on its assessment of the remaining scope of work on the project.
Hurricane Energy Begins Offshore Installation of Lancaster EPS
Logistical work is taking place in advance of subsea installation activities, which have the large UK North Sea field on track for first oil in 2019.
BP Starts Pair of North Sea Field Developments
Scheduled for 2020 startups, the Alligin and Vorlich Fields are expected to produce 30,000 gross BOE/D.
Canadian Firm Agrees to Acquire BiFab Yards
An agreement with DF Barnes is expected to provide financial security for the Scottish fabrication company, which had been on the verge of closure.
UK E&P Activity Looks Promising for 2018, But Questions Remain
A new report from Oil & Gas UK explains how the UK North Sea is showing signs of life, but warns that new exploration investment will be necessary to avoid another production downturn.
Corinth Secures Subsea 7 Contracts for Aker BP Subsea Tiebacks
The steel pipe manufacturer agrees to deliver outer pipes for pipe-in-pipe flowlines for a pair of recently-announced Aker BP projects in the Norwegian Sea.
Decommissioning – Challenge Accepted
With $102 billion of decommissioning-related expenditure forecast to 2040 in Western Europe, opportunities are ripe for the supply chain to compete with innovative and cost-effective solutions for the E&P operators.
Stay or Go: Is In-Situ Decommissioning the Way To Go?
Decommissioning experts in the UK examine the advantages and disadvantages of removing offshore installations vs. leaving them in place, discussing cost efficiencies, environmental factors, and long-term risks.
Decommissioning—Will Yards Become a Bottleneck?
Will the UK decommissioning yards have the capacity to handle the anticipated workload of 261 platforms? Some of the pressure may be relieved as a result of the continuing production from many fields forecast to be abandoned in the current price environment as Opex costs offshore UK have fallen.
Buchan Alpha Semisub To Be Decommissioned in Shetland
The Buchan Alpha ended production on 12 May in the UK North Sea. The semisubmersible moored floating production facility will be decommissioned by Veolia at its Dales Voe site in Lerwick, Shetland.
In the Crosshairs: Cost Inefficiencies in North Sea Decommissioning
A panel of UK government officials and industry executives discuss opportunities to increase efficiency in North Sea decommissioning programs.
Consortium Tackles Decommissioning Inefficiencies
A team of oil and gas consultancy companies have formed a collaborative program aimed at offering integrated support for operators looking to retire redundant facilities without in-house overhead.
Decommissioning Market To Boom From 2016 to 2040
Many of the platforms in the North Sea are late in life, operating long past their initial design expectations due to costly life-extension work. Decommissioning has moved slowly, but the low price environment is likely to accelerate the trend.
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26 March 2019
05 April 2019
15 April 2019