More than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the Covid-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts. New licensed offshore acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels.
NOIA President Erik Milito issued the following statement after OPEC+ and the G20 reached a deal to cut approximately 10 million barrels per day of oil production:
The next generation seabed geotechnical drill SWORD (sonic wireline-operated remote drill) has successfully completed an extensive testing program including harbor trials.
Flint Subsea, a global supplier of Emergency Quick Disconnect (EQD) systems have gained DNVGL approval of their latest system, which has been supplied to a well intervention specialist in the North Sea.
Subsea 7 S.A has been awarded contracts by Chevron U.S.A Inc. for subsea installation services related to the Anchor field, located in the Green Canyon area of the Gulf of Mexico. The Anchor field is approximately 140 miles off the coast of Louisiana.
Following the news on April 10th, that the OPEC+ agreement, which will cut production by ten million barrels, is contingent on Mexico’s consent to also cutting production;
The standard ARGOS version currently comes with “smart” piloting modes including latency management, auto-diagnosis features, dynamic positioning which is based on visual, acoustic and/or Inertial Navigation System/Doppler Velocity Log (INS/DVL) sensors and GO-TO features.
THREE60 ENERGY, through its Step Change Engineering division, has been awarded an engineering and support services contract to provide minor modification and repair services for Spirit Energy’s UKCS assets.
Fiber optic cables, it turns out, can be incredibly useful scientific sensors. Researchers at Lawrence Berkeley National Laboratory (Berkeley Lab) have studied them for use in carbon sequestration, groundwater mapping, earthquake detection, and monitoring of Arctic permafrost thaw. Now they have been awarded new grants to develop fiber optics for two novel uses: monitoring offshore wind operations and underground natural gas storage.
The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments.
Allseas has been awarded a contract by Aker BP for the removal and disposal of multiple topsides and jackets from the Valhall area in the Norwegian North Sea. The contract is the latest award triggered by Aker BP under the terms of the frame agreement signed with Allseas in 2017 to provide transport, installation and removal services for the Valhall oil field.
As the number of cases rise and business sentiment tumbles, Sub-Saharan Africa is likely to see a slowdown in upstream activity for ongoing projects and final investment decisions (FIDs) anticipated in 2020, according to GlobalData, a leading data and analytics company.
Trendsetter Vulcan Offshore (TVO), a developer of innovative solutions for the offshore industry, has collaborated with local pulmonary and critical care physician Luis E. Chug, MD, to introduce personal protective equipment (PPE) for healthcare workers fighting the coronavirus pandemic.
Wärtsilä will supply a propulsion and power package for a new 75 meters long fishing trawler.
Greece based Asso.subsea have taken delivery of an SMD Quasar 150hp 1000m rated work class remotely operated vehicle (ROV) complete with Launch and Recovery system (LARs).
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