Operator Statoil has together with PL479 partners made a gas/condensate discovery in the Smørbukk North prospect at Haltenbanken in the Norwegian Sea.

Exploration well 6506/9-3, drilled by the drilling rig Transocean Leader, has proven a 40-metre gas/condensate column in a down-to situation in the Garn formation of mid-Jurassic age.

In addition a thin gas/condensate column was proven deeper in the mid-Jurassic Ile formation. The reservoir properties of the Garn formation are good, while somewhat poorer than expected in the Ile formation.

The preliminary estimated volume of the discovery is in the range of 25-47 million barrels of recoverable oil equivalent (o.e.).

"We are very pleased with having proven the new resources," says Gro G. Haatvedt, senior vice president exploration Norway in Statoil.

"The three discoveries comprising the Åsgard field were all made in the 1980s. Making a new discovery in the area 30 years later is encouraging and proves the exciting remaining potential on the NCS."

Smørbukk North is a typical example of timely near-field exploration, which is an important element in Statoil's sharpened exploration strategy for the NCS.

"Being located directly north of the Åsgard field, the Smørbukk North discovery could be developed quickly and efficiently through a tie-in to existing infrastructure, providing fast resources and potentially extending the production life of the Åsgard production facilities," says Astrid Jørgenvåg, vice president operations at Åsgard.

Smørbukk North was a high temperature well (HT), so special attention was given to ensuring safe drilling operations.

"Smørbukk North was a demanding well to drill, but due to thorough planning and extra HSE focus, the operations have so far been carried out without serious incidents and are currently 21 days ahead of schedule," says Haatvedt.

Exploration well 6506/9-3 is situated in PL479 in the Norwegian Sea. Statoil is operator with an interest of 40.95%. The partners are ENI Norge AS 19.6%, Petoro AS 14.95%, ExxonMobil Exploration & Production Norway AS 14.7%, and Total E&P Norge AS 9.8%. 

For further details on the results of exploration well 6506/9-3, please see the press release issued by the Norwegian Petroleum Directorate (NPD) 

The Bureau of Safety and Environmental Enforcement (BSEE), U.S. Coast Guard, and Walter Oil & Gas Corporation (Walter), through the Unified Command, continue to oversee and coordinate response efforts to secure the South Timbalier 220 natural gas Well A-3. Safety of personnel and protection of the environment remain the top priorities.

All debris is now removed from the wellhead giving crews vertical access to the well, removal was done from the derrick barge “Performance”.

BSEE approved plans to send a camera and logging tools down the wellbore and is conducting visual observation along with Unified Command. Observations will be used to advance well intervention plans. No gas releases are reported from fixed wireless detectors placed some 30 feet from the top of the well or detection devices carried by all onsite personnel.

Drilling on the relief well is underway using the Rowan EXL-3 jack-up rig, contracted by Walter. Drilling is expected to continue through early September. Many factors can affect the expected schedule including weather and the intricate work of locating the target well bore at the end of the drilling process. A relief well is drilled to intercept the target well. Once intercepted, drilling mud, followed by cement will be pumped into the well to secure it.

All available options to safely secure the natural gas well remain under consideration. Work is moving forward on all approaches.

From visual observation, a sheen is no longer present in the area of the well. The Coast Guard continues to maintain a 500-meter safety zone around the site. Firefighting and other marine vessels remain onsite with personnel from Walter, Hercules, and other professional engineering contractors, and relevant federal agencies. BSEE's investigation into the cause of the loss of well control continues in coordination with the Coast Guard.

Additional updates will be issued as information becomes available. Media inquiries and requests for additional information should be directed to. 504-736-2595.

BACKGROUND:  Walter experienced a loss of control of Well A-3 at approximately 8:45a.m. July 23 on an unmanned platform at South Timbalier Block 220 while doing completion work on the sidetrack well to prepare the well for production. The operator reported the safe evacuation of 44 personnel from the Hercules 265 jack-up rig. Coast Guard confirmed that the leaking natural gas ignited at 10:45 p.m. CDT July 23. BSEE confirmed July 25 that the well flow subsided after a natural bridging process and the fire was suppressed.

Ascent Resources plc, the AIM listed European oil and gas exploration and production company, today announces that it has agreed to dispose of its full interests in the Netherlands Exploration Licenses Terschelling-Noord and M10a & M11 to Tulip Oil Netherlands B.V. for a total cash consideration of up to €450,000, before selling expenses, once the consents for the transfer of the Licenses become irrevocable. These licenses did not form part of the core asset base on which the board has decided to focus.

 The agreement grants Ascent the right to re-purchase from Tulip Oil a 10% interest in each of the Licenses once Tulip Oil has made a final investment decision with respect to the commercial development of the Terschelling-Noord Field.

 The disposal enables Ascent to recover a proportion of its technical appraisal costs incurred during the period it held the Licenses.

 Len Reece, Ascent's Chief Executive Officer, commented: "This transaction is in accordance with our corporate strategy of disposing of non-core assets. It provides additional cash for the Company in the short term and allows Ascent to focus our efforts and resources on our core Petišovci project in Slovenia."

Offshore Installation Services Ltd (OIS), an Acteon company, has launched a new service designed to help operators fulfill their suspended well decommissioning plans. Wellintel is a well data collection and review service that gathers and prepares the information operators require before they start a decommissioning program. OIS engineers with extensive well abandonment knowledge and detailed understanding of the entire decommissioning process will deliver the service.

Operators having an up-to-date well inventory and regulatory documentation ready for submission to DECC and the HSE can take advantage of commercially efficient opportunities such as multi-client abandonment campaigns that may arise at short notice.

Decommissioning offshore assets is a key challenge for the UK’s offshore oil and gas industry. The UK government’s Department of Energy and Climate Change (DECC) is prompting operators with assets that require permanent abandonment to expedite the process.

For many operators, the main obstacles are lack of time or limited in-house resources to deal with the critical tasks required to prepare for decommissioning. The Wellintel team will help by collating well-specific data, such as end-of-well reports and well status diagrams, and the initial assessment of well categorization in accordance with O&G UK guidelines, which is required to identify which assets are available and suitable for vessel-based abandonment, thereby easing the burden on operators.

The Wellintel service can also support operators with preparing the submissions to DECC and the HSE that are required before starting a decommissioning program. These submissions include the oil pollution emergency plan, PON 5 (application to abandon a well), PON 15f (permit to use and/or discharge chemicals during well abandonment), the Marine Coastal Access Act licence and the HSE notification.

Since its launch, Wellintel has attracted a high degree of interest amongst North Sea operators who recognize the value of this approach. One operating company has already started using the service as part of its decommissioning strategy.

One of the key features of the proposition is that the costs of the Wellintel service are deductible from future abandonment work by OIS, as Tom Selwood, OIS vice president commercial and business development, explained. “Once the Wellintel process is complete, OIS can provide well abandonment solutions, including vessel charter, marine management, equipment and personnel, and full offshore project management for any suspended wells that are suitable for vessel-based abandonment. Operators that use OIS for back-of-boat suspended well abandonment work within 18 months of using Wellintel can recover the costs incurred against the project management fees associated with the well abandonment project.”

Rosneft and ExxonMobil continue to progress the LNG project proposed in the Russian Far East. The contractor selection process for design and engineering work has officially commenced.

In 2013-2014 Rosneft and ExxonMobil plan to complete design work, including selection of a liquefaction technology and identification of major equipment requirements, to perform engineering surveys, develop Front End Engineering and Design (FEED) and Russian Proyekt documentation for the LNG plant, hydro-technical marine facilities and a source gas pipeline, as well as perform EIA.

Special attention during the design phase will focus on minimizing environmental impact to the unique ecosystem of the Sakhalin island and encouraging development of local infrastructure.
A joint team of experts from Rosneft and ExxonMobil will apply best practices from both companies to complete the project in the shortest possible timeframe.

Commenting on the progress of the LNG project in the Russian Far East, Rosneft President Igor Sechin said, “Rosneft’s offshore license areas hold massive hydrocarbon resource potential, most of which is natural gas. Given the fact that offshore fields are difficult to reach and are not connected to the national gas supply system, the most efficient way to monetize these resources is to liquefy the natural gas and sell the LNG in export markets.

“We are optimistic about prospects for LNG export liberalization in Russia in the near term and are pleased to announce that we have entered an important stage of the LNG project jointly with our strategic partner ExxonMobil.

“I would also point out that construction of the LNG plant and essential infrastructure will rely on the full resources of the Russian manufacturing and construction industries (primarily those based in the Far East) applying international best practices.”

Capacity of the LNG project to be located on Sakhalin Island in the Russian Far East is expected to be 5 million tons per year, subject to further expansion. The liquefaction plant, the launch of which is scheduled for 2018, will receive natural gas from Rosneft’s reserves in the Far East and other Sakhalin gas reserves.

Apache Corporation (NYSE, Nasdaq: APA) says that the third well in the Bacchus Field in the United Kingdom sector of the North Sea has pushed field production past 17,600 barrels of oil per day. Apache has a 50 percent interest in the field.

The Bacchus B-1 development well, which commenced production in July, currently is producing 9,400 barrels of oil per day. Apache logged 2,057 feet net oil pay along a horizontal completion segment in high quality Jurassic-aged Fulmar sandstone in the field's western fault block. Oil from the Bacchus Field is produced through a subsea tie-back to Apache's Forties Alpha platform.

Following the recent success at Bacchus, Apache has extended its current Forties 3-D seismic survey area to cover other Jurassic development and exploration targets in Apache licenses in the Bacchus area. The seismic survey is expected to be completed in September.

Apache has brought three new fields — Bacchus, Maule and Tonto — on production in the Forties area since 2009. All three developments qualified under the United Kingdom government's small field allowance system, which provides economic incentives for operators to bring these discoveries into production.

"Utilizing existing infrastructure within the Forties Field area enables Apache to bring these smaller discoveries on production in a cost-effective manner for the benefit of all stakeholders," said James L. House, region vice president and managing director of Apache North Sea. "A little more than a year after first production, Bacchus has produced 3 million barrels of oil and has already paid out."  

•    Inmarsat and RigNet sign long-term distribution agreement for Global Xpress and L-band services

•    RigNet signs significant 4-year Global Xpress capacity pre-purchase

•    RigNet acquires Inmarsat's retail energy operations

Inmarsat plc (LSE: ISAT), a leading provider of global mobile satellite communications services, and RigNet, Inc. (NASDAQ: RNET), a leading global provider of managed remote communications solutions to the oil and gas industry, has announced a wide-ranging strategic transaction involving the appointment of RigNet to distribute Inmarsat's Global Xpress and L-band services to the energy sector and the sale of Inmarsat's retail energy business to RigNet.

Under the terms of the agreement, RigNet will become a key Global Xpress distribution partner for the global energy sector and will offer Global Xpress and L-band services to RigNet's growing customer base.  In connection with the appointment, RigNet has entered into to a significant 4-year Global Xpress capacity pre-purchase.  

To further enhance the strategic value of the partnership, Inmarsat has agreed to sell to RigNet its retail energy operations, currently managed within the Inmarsat Solutions Enterprise business unit, for a total consideration of US$25 million.  The sale will include Inmarsat's microwave and WiMAX networks in the US Gulf of Mexico serving drillers, producers and energy vessel owners; its VSAT interests in Russia, the UK, the US and Canada, its telecommunications systems integration business operating worldwide, and its retail L-band energy satcoms business.  In 2012, the operations subject to the sale had total revenues of $81 million.  The overall transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close during or before the first quarter 2014.

RigNet, based in Houston, Texas, provides managed remote communication services in over thirty countries on six continents, covering over 1,100 oil and gas related sites ranging from drilling rigs to production facilities and energy vessels.  

Rupert Pearce, Inmarsat's Chief Executive Officer, said "We are excited about this partnership as it enhances the strategic positioning of both companies as we seek to address the communications needs of the global energy sector together. RigNet is the perfect partner for Inmarsat, supporting a large customer base of oil and gas VSAT customers, whom we expect to be at the forefront of the transition to Global Xpress services.  We also welcome the opportunity to work with RigNet's management team with its extensive knowledge of VSAT operations and customers.  This partnership prepares the way for a fast and successful take up of Global Xpress services in the global energy sector.'’

Mark Slaughter, RigNet's chief executive officer and president, said, "We are delighted to enter into this strategic partnership with Inmarsat.  As the two companies came together for discussions over a number of months - with RigNet evaluating high-throughput satellite providers and Inmarsat seeking a strong distribution channel into the energy market for its Global Xpress offering - it quickly became clear that this deal represented the best path forward for both companies."

"With the purchase of Inmarsat's energy broadband business and the addition of Global Xpress to our transport options, we will broaden and deepen our capabilities to serve the oil and gas industry across the life of the field from drilling through production," Slaughter added.  "This deal will enhance our services portfolio with world-class additions.  The highly-skilled staff that comes with the business will expand our team at an opportune time in the energy cycle.  Altogether, RigNet's extensive product and services portfolio tailored for the oil and gas industry, coupled with the unprecedented connectivity capabilities of Inmarsat's Global Xpress network, sets the stage for a step change in managed remote communications services to the oil and gas industry."

Trinity Advisers S.A. acted as Inmarsat's advisor and Steptoe & Johnson LLP acted as legal counsel on the transaction.

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The Bureau of Safety and Environmental Enforcement (BSEE), U.S. Coast Guard, and Walter Oil & Gas Corporation (Walter), through the Unified Command, continue to oversee and coordinate response efforts to secure the South Timbalier 220 natural gas Well A-3. Safety of personnel and protection of the environment remain the top priorities.

All available options to safely secure the natural gas well remain under consideration. Work is moving forward on all approaches. Gas detectors and high-capacity water jet fire monitors have been installed on board the Hercules 265 rig; this is for the safety of the rig and the well intervention operations which will be conducted from a near-by barge, Superior Derrick Services' "Performance."

Walter’s application for permit to drill a relief well was approved Saturday by BSEE. The Rowan EXL-3 jack-up rig, contracted by Walter, is on location at South Timbalier 220 and crews are preparing the rig for drilling. The crew is expected to begin drilling the relief well early Thursday. It is anticipated that it will take approximately 35 days to intercept the original well bore. Many factors can affect the expected schedule including weather and the intricate work of locating the target well bore at the end of the drilling process. A relief well is drilled to intercept the target well. Once intercepted, drilling mud followed by cement will be pumped into the well to secure it.

From visual observation, a sheen is no longer present in the area of the well. The Coast Guard continues to maintain a 500-meter safety zone around the site. Firefighting and other marine vessels remain onsite with personnel from Walter, Hercules, and other professional engineering contractors, and relevant federal agencies.

BSEE's investigation into the cause of the loss of well control continues in coordination with the Coast Guard.

Additional updates will be issued as information becomes available. Media inquiries and requests for additional information should be directed to 504-736-2595.

BACKGROUND:

 Walter experienced a loss of control of Well A-3 at approximately 8:45 a.m. July 23 on an unmanned platform at South Timbalier Block 220 while doing completion work on the sidetrack well to prepare the well for production. The operator reported the safe evacuation of 44 personnel from the Hercules 265 jack-up rig. Coast Guard confirmed that the leaking natural gas ignited at 10:45 p.m. CDT July 23. BSEE confirmed July 25 that the well flow subsided after a natural bridging process suppressed the fire.

Eco (Atlantic) Oil & Gas Ltd. ("Eco Atlantic" or the "Company") (TSX-V: EOG, NSX: EOG) is pleased to announce that it has received final approval from Namibia's Ministry of Mines and Energy (the "Ministry") for the inclusion of all oil and gas rights on its Skeleton Coast License #31 which is a transition license that is both onshore Huab Basin and extends offshore Walvis Basin. The License, which the Company recently named "Daniel", covers Blocks 2114, 2013B and 2014B. The license originally covered only CBM and Shale rights but now will include all petroleum.

The Daniel Block has an offshore section extending into Walvis Basin that the Company has recently evaluated for oil prospectivity. Colin Kinley, Eco's Chief Operating Officer commented, "The offshore section of Daniel is near shore, however, it has good cover and is on trend with the slope and direction of the source rock, proven in the last two wells drilled by HRT in the basin. The drilling of the Toscanini well four decades ago on the beach section of this block, based on visible oil shows, seems to be consistent with our evaluation of the block. This oil presence was the basis for wild cat drilling of the Toscanini well, and our oil slick study with Fugro further defines oil presence in the basin and the prospectivity on the Daniel new offshore section of the block. We believe further work on the offshore section of this block will prove consistently prospective."

Gil Holzman, Chief Executive Officer of Eco Atlantic commented, "Eco continues with the focused evaluation of our offshore blocks in the Walvis Basin. We have carefully selected and negotiated the addition of the conventional oil and gas rights for the Daniel Block. The recent confirmation of source rock in both of HRT's wells in the basin is in agreement with our exploration science and definitely has increased focus on the Walvis Basin proven oil prospects. We are grateful for the Ministry's approval."

The Company further announces, based on its technical assessment, and in return for the conversion of License #31, the relinquishment of its CBM Exploration License #32, (Block 2418) onshore South East Namibia.

Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) announces that one of its subsidiaries has entered into a three-year contract with Cobalt International Energy, L.P. ("Cobalt") (NYSE: CIE) for the Rowan Reliance, one of Rowan's new ultra-deepwater drillships currently under construction at the Hyundai Heavy Industries Co. Ltd. ("HHI") shipyard in Ulsan, South Korea.  The drillship is expected to operate in the U.S. Gulf of Mexico. 

The Rowan Reliance is expected to be delivered from HHI at the end of October 2014.  The contract is expected to commence late January 2015 following mobilization.  The effective day rate for the work will be $602,000, including mobilization revenues, and adds $660 million in revenue backlog.

Matt Ralls, Rowan's Chief Executive Officer, stated, "We are very pleased to enter into this relationship with Cobalt.  They have a very exciting growth story with a strong track record in ultra-deepwater exploration.  We will complement their growth potential through our expansion into the ultra-deepwater drilling segment with the most advanced drillships in the industry.  We are proud to have this opportunity to be part of the future success of this exciting company."

The Rowan Reliance is one of four ultra-deepwater drillships being constructed for Rowan by HHI.  All four drillships are based on a GustoMSC P10,000 hull design, capable of drilling wells to depths of 40,000 feet in water depths up to 12,000 feet. The DP-3 compliant, dynamically positioned drillship will be equipped with retractable thrusters, two readily deployable seven-ram BOP systems,five mud pumps, dual mud systems and a maximum hookload capacity of 1,250 tons.

With the award of this contract for the Rowan Reliance, three of the Company's four ultra-deepwater drillships under construction at HHI are now under contract.  The fourth remaining uncontracted drillship, the Rowan Relentless, is scheduled to be delivered from the shipyard at the end of March 2015.

Historic Auction Leases Nearly 165,000 Acres Offshore Rhode Island and Massachusetts for Wind Energy Development, Advances President’s Climate Action Plan

 As part of President Obama’s comprehensive plan to move our economy toward domestic clean energy sources and cut carbon pollution, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau on Wednesday, held the nation’s first-ever competitive lease sale for renewable energy in federal waters.  

 The provisional winner of yesterday’s lease sale, which auctioned two leases for a Wind Energy Area of 164,750 acres offshore Rhode Island and Massachusetts for wind energy development, is Deepwater Wind New England, LLC. When built, these areas could generate enough combined energy to power more than one million homes.

 “When you think about the enormous energy potential that Atlantic wind holds, this is a major milestone for our nation,” said Secretary Jewell. “A lot of collaboration and thoughtful planning went into getting to this point, and we’ll continue to employ that approach as we move forward up and down the coast to ensure that offshore wind energy is realized in the right way and in the right places. Offshore wind is an exciting new frontier that will help keep America competitive, and expand domestic energy production, all without increasing carbon pollution.”

 The Wind Energy Area is located 9.2 nautical miles south of the Rhode Island coastline and has the potential to support 3,395 megawatts of wind generation. BOEM will hold its next competitive lease sale for offshore wind on Sept. 4, which will auction nearly 112,800 acres offshore Virginia, and is expected to announce additional auctions for Wind Energy Areas offshore Massachusetts, Maryland, and New Jersey later this year and in 2014.

 Maps for these areas are available on BOEM’s website.

 Today’s auction is the result of a coordinated strategic plan to accelerate the development of offshore wind resources that was unveiled in February 2011 by former Secretary of the Interior Ken Salazar and former Secretary of Energy Steven Chu. As part of a ‘Smart from the Start’ program for expediting commercial-scale wind energy on the federal Outer Continental Shelf, Interior identified Wind Energy Areas well suited for commercial development with minimal impacts to the environment and other important uses. Efforts to spur responsible development of this abundant renewable resource are part of a series of Administration actions to speed renewable energy development offshore and onshore by improving coordination with state, local and federal partners.

 As part of President Obama’s comprehensive Climate Action Plan, he challenged Interior to re-double efforts on the renewable energy program by approving an additional 10,000 megawatts of renewable energy production on public lands and waters by 2020.

 Since 2009, Interior has approved 46 wind, solar and geothermal utility-scale projects on public lands, including associated transmission corridors and infrastructure to connect to established power grids. When built, these projects could provide more than 12,700 megawatts – enough energy to power more than 4.4 million homes and support over 17,000 construction and operations jobs.

 At the same time, under the Administration’s all-of-the-above energy strategy, domestic oil and gas production has grown each year President Obama has been in office, with domestic oil production currently higher than any time in two decades; natural gas production at its highest level ever; and renewable electricity generation from wind, solar, and geothermal sources having doubled. Combined with recent declines in oil consumption, foreign oil imports now account for less than 40 percent of the oil consumed in America – the lowest level since 1988.

 “Each of these renewable energy lease sales are significant steps forward in the President’s all-of-the-above energy strategy and call for action on climate change,” said Director Beaudreau. “Harnessing the enormous potential of offshore wind will create jobs, increase our energy security and provide abundant sources of clean renewable power.”  

 BOEM auctioned the Wind Energy Area offshore Rhode Island and Massachusetts as two leases, referred to as the North Lease Area (Lease OCS-A0486) and the South Lease Area (Lease OCS-A0487). The North Lease Area consists of about 97,500 acres and the South Lease Area covers about 67,250 acres. For a map of the Wind Energy Area, click here. The sale received $3,838,288 in high bids. The auction lasted 1 day, consisting of 11 rounds before determining the provisional winner. In addition to Deepwater Wind New England, LLC, the following companies participated in the auction: Sea Breeze Energy, LLC; and US Wind Inc.

 “Now that we have identified Deepwater Wind as the provisional winner of this auction, we look forward to executing the lease and reviewing their Site Assessment Plan for the lease area,” said Director Beaudreau.  

 Following the auction, the Attorney General, in consultation with the Federal Trade Commission, will have 30 days in which to complete an antitrust review of the auction. Shortly thereafter, BOEM will send unsigned copies of the lease form to the winning bidder, who will have 10 days to sign and return the lease, file required financial assurance, and pay the balance of the winning bid.

 Each lease will have a preliminary term of 6 months in which to submit a Site Assessment Plan to BOEM for approval. A Site Assessment Plan describes the activities (e.g., installation of meteorological towers and buoys) a lessee plans to perform for the assessment of the wind resources and ocean conditions of its commercial lease.

 After a Site Assessment Plan is approved, the lessee will have up to 4 and 1/2 years in which to submit a Construction and Operations Plan (COP) for approval, which provides a detailed plan for the construction and operation of a wind energy project on the lease. After the COP is approved, the lessee will have an operations term of 25 years.

Technip was awarded by Chevron North Sea Ltd a substantial⁽¹⁾ engineering, procurement, installation and construction (EPIC) contract for the Alder field. Chevron is developing the Alder field as a subsea tieback to the Britannia Bridge Link Platform (BLP). This field is located in the central North Sea, about 200 kilometers North-East of Aberdeen, Scotland, at a water depth of approximately 150 meters.

The contract will cover a wide scope of work, from engineering to manufacturing and installation:

•    the detailed design and pipelay of a 28-kilometer 16” pipe-in-pipe system,

•    the installation of a 28-kilometer hybrid umbilical⁽²⁾,

•    various subsea works including the installation of a manifold⁽³⁾ structure including HIPPS⁽⁴⁾, subsea isolation valve structure, valves and spoolpiece⁽⁵⁾ components.

Technip’s operating center in Aberdeen will execute the contract, which is scheduled to be completed in the second semester of 2015. Genesis⁽⁶⁾ will complete the detailed design workscope and Technip’s spoolbase in Evanton, Scotland, will fabricate the pipe-in-pipe. DUCO Ltd, Technip’s wholly-owned subsidiary in Newcastle, England, will manufacture the umbilical. Vessels from the Group’s fleet will be used for the offshore campaign, including its newest state-of-the-art pipelay vessel, the Deep Energy.

Bill Morrice, Managing Director of Technip in the United Kingdom, said: “We are delighted to be reigniting our relationship with Chevron with this substantial contract that will allow us to support them in bringing the Alder field onstream. Technip has a proven track record in delivering EPIC contracts of this scale and our unique vertical integration is an added-value advantage for our clients as our capabilities cover the entire value chain for subsea infrastructures. The UK Continental Shelf is still an exciting place to be with many major fields being developed both around traditional developments and in deeper waters West of Shetland, a market Technip is keen to maximize opportunities.”

⁽¹⁾ For Technip, a “substantial” subsea contract is ranging from €100 to €250 million.

⁽²⁾ Umbilical: An assembly of steel tubes and/or thermoplastic hoses which can also include electrical cables or optic fibres used to control subsea structures from a platform or a vessel.

⁽³⁾ Manifold: a piece of pipe with several lateral outlets and/or inlets for connecting one pipe with 3 others.

⁽⁴⁾ HIPPS: High Integrity Pressure Protection System

⁽⁵⁾ Spoolpiece: A short section of pipe for the connection of two subsea structures.

⁽⁶⁾ Genesis is a market-leading engineering company focused on providing engineering and technical services to the global upstream oil and gas industry. It is part of the Technip Group.

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The floating production sector has been especially active over the past several months. Ten production floaters have been ordered since March. They include a $3 billion FPSO for Nigeria (a record price for an FPSO), two $1.8 billion FPSOs for Brazil, a $1.8 billion FPSO for the UK, a $1.3 billion production barge for the Congo and a $1.0 billion FPSO for the Gulf of Mexico.

MODEC's FPSO Cidade de Niteroi MV18 

269 floating production units now in service or available —

This figure is 22% greater than five years ago, almost 80% higher than ten years back. FPSOs account for 61% of the existing systems. The balance is comprised of production semis, tension leg platforms, production spars, production barges and floating regasification/storage units. Thirteen units (12 FPSOs, 1 Semi) are off field and available for reuse – resulting in an overall utilization rate of 95.2%. Another 93 floating storage/offloading units (without production capability) are in service.

72 production floaters are on order —

Current order backlog consists of 40 FPSOs, 6 production semis, 5 TLPs, 4 spars, 1 barge, 4 FLNGs and 12 FSRUs. Delivery of the equipment will grow the production floater inventory by 27%. In the backlog are 46 units utilizing purpose-built hulls, 26 units based on converted tanker hulls and 1 unit being modified from an existing production semi Of the production floaters being built, 41 are owned by field operators, 31 are being supplied by leasing contractors. Brazil continues to dominate orders for production floaters – 23 units are being built for use offshore Brazil, 32% of the order backlog.                               

241 new floater projects are in the bidding or planning stage —

The number of future projects in the pipeline keeps growing. A year ago 233 projects were in the planning or bidding stage. Five years ago, the figure was 141 projects. Ten years back, 94 projects. According to Jim McCaul, head of IMA, "potential deepwater projects should grow significantly over the rest of the decade. Oil demand keeps growing, the futures market points to $90+ oil through the decade, deepwater drill contractors are running at full load and 90+ additional drillships/semis are scheduled for delivery over the next few years. These new drill units will increase deepwater drill capability by 30% and remove a bottleneck that has constrained E&D in deepwater."

But deepwater spending could be hitting headwinds —

Deepwater projects compete for a place in capital expenditure plans – and investment opportunities in tight oil and shale gas could cause some deepwater projects to slip from oil company capex budgets. This could be occurring now. According to McCaul, "maybe it is more than a coincidence that five major deepwater projects have been deferred over the past several months. Each project had its own reason for deferral. But five in such a short period sends warning signals to everyone in this sector."

International Maritime Associates (IMA) is a firm of business consultants specializing in market analysis and strategic planning for companies in the marine and offshore sectors.

We provide the front-end research needed to size the available market, analyze customer requirements, benchmark market position, identify new business opportunities, evaluate market positioning options and assess potential acquisitions or strategic alliances.

Since formation in 1973, IMA has performed over 350 consulting assignments for clients in more than 40 countries.

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Petrobras has confirmed the presence of oil in well 3-SPS-101 (3-BRSA-1179-SPS), in the Carioca Discovery Evaluation Plan area, block BM-S-9, Santos Basin pre-salt. The well, informally known as Iguaçu Mirim, is located 303 km off the coast of the state of São Paulo, 34 km south of the discovery well (1-SPS-50 - Carioca) and 9 km south of the Iguaçu well (4-BRSA-709-SPS), at a water depth of 2,158m.

This new discovery was confirmed through oil samples of approximately 20° API, taken via cable test from pre-salt carbonate reservoirs starting at a depth of 4,850 meters.

The consortium of BM-S-9 is operated by Petrobras (45%) in partnership with BG E&P Brasil (30%) and Repsol Sinopec Brasil (25%). The deadline for the Declaration of Commerciality is December 31, 2013.

Please   Click Here to see the map.

The Petroleum Extension Service (PETEX™) at The University of Texas at Austin is proud to announce the launch of its newInteractive Offshore Oil Rig. This innovative, 3-D e-product provides a unique learning perspective on the inner workings of a semi-submersible oil rig, one of the most intricate and powerful units used in offshore drilling operations.  PETEX is a leading instructor of oil and gas industry workers in Texas and around the world.

The Interactive Offshore Oil Rig gives users an inside view to see and hear about each component of the rig—what it does and where it is located-- and lets users zoom in for expanded views. Options include visuals and detailed audio describing ten different areas of the rig including a 360 degree Rig View, Power and Hoisting Equipment, Circulating and Cementing Equipment and much more.

The product includes an online assessment that tests the learning progress of the user. A passing score earns users a Completion Certificate from PETEX and The University of Texas at Austin. Developed by PETEX Learning Specialist Itzel McClaren with assistance from the university's Faculty Innovation Center at the Cockrell School of Engineering, this product is the result of a true collaboration between scholars and oil and gas professionals.

PETEX's Director Zahid Yoosufani says, "The Interactive Offshore Oil Rig is the only product of its kind on the market for offshore drilling and is especially useful for oil and gas industry personnel seeking a better understanding of the individual parts of this extremely complex mechanical unit. With thousands of offshore rigs actively drilling for oil and gas around the world, effective training is now more critical than ever."

The Interactive Offshore Oil Rig is available for subscription and licensing purchases. For more information, contact us online at www.petex.org or by phone at 1-800-687-4132. You may also try the demo at www.petex.org.

Helix Energy Solutions Group, Inc. (NYSE: HLX) announces that it is proceeding with the construction of a second newbuild semisubmersible well intervention vessel, to be named the Q7000. Owen Kratz, Helix’s President and CEO, stated, “Based on strong market demand and our proven success for delivering specialized deepwater well intervention services, we are moving forward with the Q7000, which is consistent with our strategy of expanding our well intervention fleet around the world.”