New work for Pacific Drilling drillships

Offshore drilling company Pacific Drilling has signed drillship contracts and extensions with Total, Chevron, and Eni. The contracts include extensions of previous contracts (Pacific Sharav for Chevron, in the GoM) and new ones (Total in Senegal for Santa Ana vessel and Eni in Nigeria, for the Pacific Bora vessel).

Oil prices rise above $57/bbl for April 2019 contracts

Crude oil prices on New York and London SE closed with the light, sweet crude oil contract for April above $57/bbl while the Brent contract settled above $66/bbl. This is due to production cuts approved in December 2018 from the Organization of Petroleum Exporting Countries (OPEC) and other major producers, including Russia

2019: the age of renewables

Year 2019 is underlining the challenges of an industry rapidly diversifying, decentralizing and digitizing: many analysts see now the starting of a strong revolution that by 2040 will see 66 percent of the global energy market in renewables. Another crucial trend is toward digital connection: by 2023, 75 percent of utilities assets will be digitally connected.

Mubadala starts its first gas project in Thailand

UAE-based Mubadala Petroleum has signed a contract for the offshore Erawan producing gas field (Block G1/61) in Thailand. Mubadala shares the contract with PTTEP, starting the beginning of a new partnership with the Thai company.

RockRose to buy Marathon Oil’s UK business

UK-based oil and gas company RockRose has signed a share purchase agreement to acquire 100% of Marathon Oil U.K. (MOUK) and 100% of Marathon Oil West of Shetland Limited (MOWOS) from subsidiaries of Marathon Oil Corporation. The $140 million agreement was favored by Marathon’s policies to push out of its UK businesses to focus on the U.S. onshore market.

Molikpaq platform off Russia modernized by Liebherr

The Molikpaq platform off the Russian island of Sakhalin is being modernized by new cranes supplied by Liebherr. New tower cranes and a special sliding system are the core components of the conversion project to be completed by the end of 2020.

Equinor increases gas sales in 2018

Norwegian Equinor company sold natural gas for around $26 billion in 2018, an increase of 29 percent from 2017. This performance is strictly related to high demand in energy transition with lower emissions, a trend that will increase global gas demand by around 10% towards 2030.

Gazprom and Almaz-Antey agreement on subsea

Russian giant companies Gazprom (Oil & Gas) and Almaz-Antey Corporation (Defence and Aerospace) signed a long-term agreement for the set up and supply of subsea hydrocarbon production systems for Gazprom production sites, as well as provide maintenance and repair services. The cooperation is part of the continuous efforts spearheaded by the Ministry of Industry to developing strategic domestic subsea production systems.

India increases its role in Mozambique gas

Mozambique LNG1 Company has just signed a sale and purchase agreement with India’s Bharat Gas Resources, a subsidiary of Bharat Petroleum Corporation Ltd. (BPCL). This reflects the increasing India’s role in the global LNG market through Mozambique LNG. The agreement is for one million tonnes per annum (MTPA) for a term of 15 years.

Trendsetter completed equipment for Noble’s Leviathan project

The Texan company Trendsetter Engineering has completed the design and build of subsea production equipment for Noble Energy’s Leviathan project. Discovered in 2010, the Leviathan is one of the largest natural gas discoveries in the world, located in the Eastern Mediterranean Sea off the coast of Israel.
Trendsetter’s scope of work included multiple clamp connection systems, subsea distribution equipment, MEG filter modules, connection systems and subsea manifolds. First gas sales from the project are scheduled by the end of 2019.