ENGIE E&P Hires WesternGeco for Gjøa 4D Shoot

first_imgENGIE E&P Norge has awarded WesternGeco two contracts for acquisition and processing of towed 4D seismic data in the production license 153, the Gjøa license, in the northern part of the Norwegian North Sea.The acquisition will be performed with the vessel “WesternGeco Magellan”, and is planned to be completed by the beginning of August.The planned seismic survey is a repetition of a 3D survey acquired over the Engie E&P operated Gjøa field ten years ago.“The main objective for the repeat survey this summer is to observe production effects on the Gjøa field and contribute to an optimised field management strategy.” says asset manager for the Gjøa field Hilde Ådland in ENGIE E&P Norge.The Gjøa field is situated in one of ENGIE E&P’s core areas, and is currently the fifth largest producing field on the Norwegian Continental Shelf, according to the Norwegian Petroleum Directorate.WesternGeco mobilization offshore Florø on the western coast of Norway is planned for the beginning of July 2017.In addition, WesternGeco has been awarded the processing of the 4D data, with expected startup mid-august and planned completion Q1 2018. The processing will be performed at their processing facility in Tananger, close to Stavanger in Norway.“The 4D seismic will increase our understanding of the Gjøa reservoir and may help identify potential undrained compartments,” says Ådland.Gjøa is located 60 kilometers west of Florø in Sogn og Fjordane on the west coast of Norway, and is operated with power from shore.License partners in PL153 Gjøa are: ENGIE E&P Norge AS (operator and 30%), Petoro AS (30%), Wintershall Norge AS (20%), Det Norske Shell (12%) and DEA Norge (8%).last_img read more

Fugro in further cost-cutting push after ‘tough first half’

first_imgFugro continues to implement cost reduction and performance improvement measures to counter the continued challenging market conditions. In the first half of 2017, the company’s headcount was reduced by 178 employees to 10,352 and third party expenses were further reduced by 9.6%. In addition, capex continues to be curtailed strongly.Additional measures being taken to restore profitability include improving terms and conditions and early termination of vessel charter agreements. Fugro will also retire two older vessels in the second half of the year.Furthermore, the company concluded that the acquisition of the REM Etive vessel, following the award of two multi-year inspection, repair and maintenance (IRM) contracts earlier in the year, is at significantly more beneficial financial conditions than charter renewal.Other measures include down-manning of vessels and vessel support enabled by standardization and application of new technologies, further FTE reduction and more flexible staffing to deal with seasonality.Another measure will be further streamlining of the organization by standardizing work processes, further reducing the number of legal entities and consolidation of support functions into shared service centers.In total, cost savings and performance improvement measures are expected to result in an annualized contribution to EBITDA of EUR 50 to 70 million, most of which will be realized in the coming 12 months.Fugro’s net debt increased from EUR 351.1 million at year-end 2016 to EUR 433.5 million, partly as a result of the seasonal increase in working capital.For the full year 2017, Fugro anticipates a decrease in revenue, however less severe than during the first half. This expectation is supported by a bottoming out of Fugro’s backlog since mid-2016.Capex is expected to be around EUR 100 million.Offshore Energy Today Staff After experiencing a tough first half of the year, the Dutch geotechnical, survey, subsea and geoscience services provider, Fugro, has made plans to further cut costs to counter the continued challenging market conditions. In its Thursday report for the first half of the year, Fugro said it reduced its net result for the period to EUR 96.4 million ($114.2M) from EUR 202.1 million ($239.4M) in the first half of 2016.The company’s revenues for the first half of 2017 declined by 14.5% to EUR 774.3 million from EUR 904.9 million in the same period of 2016.Year-on-year revenue decline on a currency comparable basis reflected ongoing underinvestment in the offshore oil and gas market but the decline was less than during the last two years.According to the company, additional measures are being implemented to streamline business processes and further reduce cost, in order to restore profitability.Backlog for the next 12 months is bottoming out with a decrease of 5.5% on a currency comparable basis compared to a year ago and 2.4% compared to the end of March.Paul van Riel, Fugro CEO, commented: “The offshore oil and gas market continued to decline resulting in a tough first half of 2017. Marine site characterization activities performed below last year mainly due to pricing pressure, and currently utilization at Seabed Geosolutions is low. The marine asset integrity business showed an improved performance at close to break-even level.”However, Riel sees more stable environment looking ahead: “We are seeing early signs of moving into a more stable environment. The marine site characterization and marine asset integrity backlog, excluding construction and installation activities, is growing, supported by signals of increased tender activity. The pipeline of potential projects for Seabed Geosolutions is solid.“In order to restore profitability we are implementing additional measures, including significant cost savings, adjusting pricing strategies and focusing on innovative, higher margin services. This will already start to contribute to improved performance in the second half of this year.” Further cost-cutting measureslast_img read more

HydraWell Grabs UK Frame Deal

first_imgHydraWell has been awarded a frame agreement by an undisclosed supermajor to provide technology and services for plug & abandonment (P&A) and well repair operations on the UK continental shelf.HydraWell’s HydraHemera second generation high pressure Perf, Wash & Cement, PWC jetting system has been chosen as technical solution for wells that will be plugged and abandoned or for re-establishing the integrity of wells that do not have sufficient barriers. The technology can be applied in both single and multiple casings.The frame agreement is valid for three years, with two additional one-year options. The operator also has a contract option to extend the use of HydraWell’s technology to all of its operated assets worldwide.“Last year, the client in question utilised our technology on three wells. Afterwards they approached us about entering into a frame agreement. We cannot think of any better endorsement from a client. The fact that another supermajor gives us their seal of approval makes this agreement even more special,” says Mark Sørheim, CEO of HydraWell.HydraWell has developed the patented PWC technology (perforate, wash and cement) that reportedly plugs offshore wells in 2-3 days, compared to the traditional method of section milling.“The essence of our technology is to enable operators to save huge amounts of rig time as well as to reduce their HSE risk and environmental footprint from not having to bring swarf cuttings topside,” says Sørheim.HydraWell UK will manage the contract out of its office and workshop in Dyce, Aberdeen, UK.last_img read more

Kingston Harbor Dredging Complete

first_imgThe dredging of the Kingston Harbor entry channel has been complete, according to the Kingston Freeport Terminal Limited (KFTL).The deepening of the channel, performed under phase one of the Kingston Container Terminal (KCT) expansion project, was finished six weeks ahead of the schedule, reported the KFTL.The company also added that the handover of the upgraded entry channel will take place over the next couple of weeks, pending the completion of verification surveys and “the reinstatement of navigational aids“.Sodraco SAS – subsidiary of Jan De Nul Group – was part of a consortium that performed the $150 million worth Port of Kingston dredging project.For the Kingston dredging, JDN mobilized 6 vessels; the cutter suction dredger Marco Polo with four accompanying split barges and the trailing suction hopper dredger Pedro Alvares Cabrál.The dredging campaign which began on January 5th 2017 involved removal of approximately 7 million cubic meter of dredged material.last_img read more

Vietnam Approves Vinalines’ Restructuring Plan

first_imgVietnam National Shipping Lines (Vinalines) has received an approval for its equitization plan under which it will sell a part of the existing state capital and issue more shares to raise its charter capital.After equitization, the parent company will have a chartered capital of VND 14.04 billion (USD 614,250), including a state capital of VND 11.9 billion.The company informed that the State will hold 65% of charter capital, another 14.8% of charter capital will be sold to strategic investors, while 2% of charter capital will be sold at preferential price for VNL employees and trade union.Additionally, Vinalines was authorizes to implement the plan of selling shares to the public, to choose strategic investors and handle all problems of employees and related content. The lauching of the company’s initial public offering (IPO) will be in September 2018.According to new management model, the international transaction name of Vinalines will be changed to Vietnam Maritime Corporation (VIMC).In 2017, the total of tonnage of shipping market reached nearly 25 million tons, while the capacity throughput reached nearly 90 million tons.last_img read more

Four Directors Leave Nautilus

first_imgFour of Nautilus Minerals’ five directors have resigned, the Toronto-based underwater mineral exploration company said on Wednesday.John McCoach has also resigned as the company’s chief executive officer.Tariq Al Barwani remains a director of Nautilus and has appointed the company’s CFO, Glenn Withers, as managing director of Nautilus.As previously disclosed, Nautilus will be delisted from the TSX effective April 3, 2019.Al Barwni said: “Nautilus is focused on maximizing the benefit for all of its stakeholders through the sale and investment solicitation plan (SISP). PWC is very capably overseeing the implementation of the SISP.”“On behalf of the company I would like to thank John McCoach and the other departing board members for their enormous contributions,” Al Barwani added.The company said it will report on the outcome of the SSIP in late June or early July, 2019.last_img read more

Energinet Kicks Off Thor Feasibility Studies

first_imgEnerginet has commenced the feasibility studies for the Thor offshore wind farm in the Danish North Sea.Preliminary investigations start immediately, while the first vessels will begin working on the project site after the summer holidays, the Danish transmission system operator said.Energinet’s Board of Directors decided that approximately DKK 180 million (some EUR 24 million) will be used on the investigations.According to Chairman of the Board Lars Barfoed, it is important that thorough feasibility studies are conducted to make sure Denmark receives the best and most competitive bids for constructing and operating the project.“If bidders know the geology under the seabed, know the environmental consequences, wind conditions, currents, wave heights, etc., we remove a lot of uncertainties and risks and get a sharper price. This makes the offshore wind farm cheaper for Denmark and the Danes,” said Barfoed.Thor is the first of three 800MW offshore wind farms to be constructed in Danish waters before 2030, with an option for the developer to boost the wind farm’s capacity to up to 1,000MW.The project will be built off Nissum Fjord in the North Sea and is expected to feature 13-15MW turbines set to be operational between 2024 and 2027.last_img read more

Wintershall Dea farms out Shrek licenses off Norway

first_imgWintershall Dea has farmed out its 30% stake in the Shrek licenses (PL838/838B) in the Norwegian Sea to Lime Petroleum.Wintershall Dea said on Tuesday that the licenses, located near the Skarv field in the Norwegian Sea, come from DEA Norge’s legacy portfolio, and the divestment is part of an ongoing asset management process for the merged Wintershall Dea company.“Having started to operate as one company, the farm down in Shrek is part of a global portfolio and budget optimization that helps to reduce our high level of exploration expenditure in 2019,” said Roy Davies, Head of Exploration in Norway.In the event of a commercial discovery in the Shrek well – due to be drilled later this year – the development solution will be a tie-back to the Skarv field where Wintershall Dea is the second largest owner. In this way, the company will still benefit from a discovery in Shrek even after exiting the license.Wintershall Dea added it expects to participate in a further five exploration wells in Norway before the end of 2019.Polish oil company PGNiG is the operator of the license with a 40% share and Aker BP is another partner with a 30% interest.PGNiG plans to start drilling the Shrek well between September 1 and November 30, 2019, following the completion of the drilling of the production wells at Aker BP-operated Skogul and Ærfugl fields. The well will be drilled using the Odfjell Deepsea-owned Nordkapp semi-submersible drilling rig.last_img read more

Neptune gets green light for two North Sea projects

first_imgNeptune Energy has confirmed that its development plans for the Duva (PL636) and Gjøa P1 (PL153) projects in the North Sea have been approved by Norwegian authorities.First production from the projects is expected in late 2020 with total recoverable resources estimated to be 120 million barrels of oil equivalent (boe) (maximum production is expected to be respectively 30,000 boe from Duva and 24,000 boe from Gjøa P1), Neptune said on Wednesday.The fields will be developed through subsea tie-backs connecting two templates to the nearby Gjøa platform, operated by Neptune Energy Norge.Neptune Energy Norge’s Managing Director, Odin Estensen, said: “With these plans approved, we remain on track for the successful execution of these important projects. Not only do these developments strengthen Gjøa’s position as a major hub in the northern North Sea, they demonstrate our ambitions to continue growing our business on the Norwegian Continental Shelf.”On behalf of the license owners, Neptune Energy submitted development plans for the Duva (PL636) and Gjøa P1 (PL153) projects to Norwegian authorities on February 21 this year.The Plan for Development and Operation (PDO) of the Duva field was submitted on behalf of the Duva partnership, which consists of Idemitsu Petroleum Norge (30%), Pandion Energy (20%), Wellesley Petroleum (20%) and Neptune Energy (30% and Operator).Duva’s recoverable resources are estimated to be 88 million boe and it is expected to yield around 30,000 boe per day at maximum production. Developed with a four-slot subsea template, the Duva field will be tied back to the Gjøa platform for processing and export. The field will have three production wells, two oil producers and one gas producer, with the potential for an additional oil well.As the P1 segment was already covered by the development plan for the Gjøa field, an application for exemption from PDO was submitted on behalf of the Gjøa license partners, consisting of Petoro (30%), Wintershall (20%), OKEA (12%), DEA (8%) and Neptune Energy (30% and Operator). P1’s recoverable resources are estimated to be 32 million boe and it is expected to yield around 24,000 boe per day at maximum production.The subsea tie-backs will be delivered by TechnipFMC utilizing the Neptune Subsea Alliance Agreement, the drilling operations will be undertaken by Odfjell Drilling and topside modifications completed by Rosenberg Worley.Erik Oppedal, Projects & Engineering Manager for Neptune Energy Norge, added: “The approval of the plans allows us to start this summer with the first step in our parallel project execution– the subsea installation of the Duva template. Together with the ongoing installation activities for the Fenja development in the Norwegian Sea, this demonstrates the company’s ability to execute developments with pace and efficiency optimizing resources and accelerating time to production.”Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.last_img read more

First Flight Lands at New Eemshaven Heliport

first_imgWIKING Helikopter Service and DHSS have completed the first flight to the heliport in the Port of Eemshaven for the opening ceremony.Source: Groningen SeaportsOn 13 September, the helicopter brought Dutch Minister of Economic Affairs and Cimate Policy Eric Derk Wiebes who officially opened the heliport.The heliport has a primary aim of facilitating flights for the offshore wind industry and will mainly be used for the maintenance of turbines.According to Groningen Seaports, the infrastructure can also be used for ambulance and trauma flights, as well as for piloting ships. The flights are only operational in daylight, with an average of 15 flights a day.“Our ports were already very well connected by water, road and rail, but the opening of the heliport adds the air travel modality. As a result, offshore wind farms can be reached better and faster, which means that Eemshaven has become a much more attractive service port for the maintenance of offshore wind turbines,” said Groningen Seaports CEO Cas König.EMS Maritime Offshore (EMO) secured a contract at the end of 2018 to operate the new heliport, while Groningen Seaports remains the owner of the needed infrastructure.The total site covers an area of approximately 4.5ha, of which approximately 1.35ha is an airfield, including a take-off and landing area located in the north-western part of the port and parking stands.Depending on developments, a number of small buildings may be built in the future, such as a hangar and/or an office/work/reception area for the helicopter operations.Source: DHSSlast_img read more