The world of offshore energy is seeing a rapid increase in research and development. This includes underwater oil and gas extraction as well as wind farms in coastal waters. This article will take a look at a round up of the most important stories regarding offshore energy in the news this week.
Eni Makes Important Discovery Off the Coast of Cyprus
The Italian oil company Eni has announced that it has made a lean gas discovery off the coast of Cyprus. The company has said that its discovery is ‘Zohr-like’ – Zohr is the largest gas field in the Mediterranean. The company has said that this new discovery has excellent reservoir characteristics.
Transocean to Take Discoverer India Out of Retirement
Transocean, the largest offshore drilling company in the world, is planning to reactivate its ultra-deepwater drillship Discoverer India. The ship has been out of use since December 2016 after Reliance ended its contract with Transocean 5 years early – incurring a heavy $160 million fine. But now the vessel is set to start a new contract on June 1st of this year.
Statoil Plans to Drill 40 Exploration Wells in 2018
The Norwegian oil company Statoil has unveiled plans to drill 40 more wells in 2018, to increase its capacity from 2017. This is expected to cost the company around $1.5 billion. Presenting its fourth quarter and full-year 2017 results the company said it expected its organic capex to be around $11 billion for 2018. Organic capital expenditure in 2017 was $9.4 billion.
Exxon wants bigger FPSO for Phase 2 of Liza development in Guyana
Exxon has announced that it wants to use a Singapore-built FPSO (Floating Producation Storage and Offloading) to explore the Liza oil site off shore of Guyana. The company is already thinking about phase two of the discovery, which includes the use of the FPSO and subsea systems. The plans for the Liza oil field indicated that phase one should be online by March 2020.
Allseas’ Newest Vessel Will Trump Colossal Pioneering Spirit
Allseas is an offshore services provider that owns the world’s largest platform installation/decommissioning and pipelay vessel. However, the company is now thinking about building an even bigger vessel, which will be called Amazing Grace. The owner of Allseas has revealed that plans to build this behemoth vessel were in play when Pioneering Spirit first left its dock in Korea back in 2014. The ship is expected to cost around $4 billion.
Shell Transforms Oil Platform into Artificial Reef
Oil giant Shell has turned its oil platform in the Gulf of Mexico into an artificial reef. This comes as part of the decommissioning process of Cougar, Shell’s final fixed leg platform in the Gulf. The aim of this transformation is to sustain “a healthy, vibrant Gulf of Mexico ecosystem as an artificial reef.” The reef is already home to a number of reef-dependent marine species.
Sapura Energy Scores Huge Offshore Contracts
Malaysian energy services and production company Sapura Energy won big with its contract recently, contracting a total of $232 million spread out over five different contracts. The contract work scope involves the removal of existing HP compressors and reinstallation of refurbished LP Compressors at EWDP-A.