September’s top stories: Rutter’s new ice tracking system, Total’s deal with Chevron

Rutter, Statoil Canada, and the Government of Newfoundland and Labrador co-developed a new ice tracking system, Total signs deal with Chevron to explore Gulf of Mexico assets, Unique Group signs an agreement with Innovo to provide engineering solutions to the oil and gas market. wraps-up the key headlines from September 2017.

Rutter develops new ice tracking system for offshore operations

Engineering company Rutter, Statoil Canada, and the Government of Newfoundland and Labrador collaborated on a new remote sensing technology to automatically detect and track ice.    

The collaboration is aimed at improving offshore oil and gas operations in harsh environments with ice conditions.

Integrated with Rutter’s sigma S6 systems, the new technology is capable of identifying, outlining and drift tracking of ice floes.

Total signs deal with Chevron to explore Gulf of Mexico assets

Total E&P USA has signed an agreement to explore seven Chevron USA-operated prospects, covering a total of 16 blocks in the deepwater Gulf of Mexico.

Associated prospects are within two promising areas of the Gulf of Mexico (GoM) at Wilcox in Central GoM adjacent to the Anchor discovery, and Norphlet in Eastern GoM nearby to the Appomattox discovery. 

Total’s participation in the wells at the associated prospects will be between 25% and 40% following the deal.

Unique Group and Innovo sign deal to expand into Middle East and Asia

Subsea and offshore solutions provider Unique Group entered a cooperation agreement with UK-based Innovo to provide engineering solutions to the oil and gas market in the Middle East and South East Asia.

The deal will also enable the engineering companies to collaborate in delivering sales and rental equipment to their customers in the two regions.

With its headquarters in Scotland, Innovo specialises in providing technological equipment and services to the renewable, oil and gas, and marine industries.

RGU and Nippon Foundation sign deal to train offshore engineers

Scotland-based Robert Gordon University (RGU) and Japanese non-profit organisation Nippon Foundation (NF) signed a letter of intent to collaborate in areas of strategic significance in ocean innovation.

Founded in 1962, NF has carried out various activities in more than 100 countries to date.

Last year, the Nippon Foundation Ocean Innovation Consortium was launched in Japan encompassing universities, industries and public agencies to train people for different aspects of offshore development.

BP launches new vessel for Shah Deniz Stage 2 project

BP-led Shah Deniz consortium launched its new subsea construction vessel called Khankendi, which has been designed to support the Shah Deniz Stage 2 project in the Caspian Sea. 

The $378m vessel will be used to install subsea production systems in the Caspian Sea as a part of the project.

Weighing 17,600t, Khankendi is planned to be deployed at the Shah Deniz field where it will perform installation and construction works over the next 11 years.

Brookfield buys 60% of Teekay Offshore for $750m

Brookfield Business Partners completed the acquisition of a 60% interest of Teekay Offshore Partners in a $750m deal. 

Teekay Offshore Partners provides marine services and solutions with focus on production and logistics to the offshore oil industry. 

The acquisition was originally announced in July, when parent company Teekay also revealed plans to invest in its affiliate to retain a 14% ownership.

Seadrill announces restructuring plan to raise $1bn capital

Offshore driller Seadrill secured nearly $1.06bn of new capital after entering a restructuring agreement with more than 97% of its secured bank lenders, nearly 40% of its bondholders and a consortium of investors led by its largest shareholder, Hemen. 

The new capital comprises $860m of secured notes and $200m of equity. 

Under the agreement, the lenders have also agreed to defer maturities of all secured credit facilities that amount to $5.7bn by approximately five years with no amortisation payments until 2020. 

Statoil completes 60% development of Johan Sverdrup project

Statoil completed nearly 60% development of the Johan Sverdrup project, one of the biggest oilfields in the Norwegian Continental Shelf.

The planned investment also decreased by nearly Nkr30bn ($3.85bn) since Norwegian authorities approved the plan for development and operation (PDO) for the Statoil-operated Johan Sverdrup project.

Currently, the first phase of development involves an investment of nearly Nkr92bn ($11.8bn).

Aker Solutions gains Norwegian offshore contract from Shell

Aker Solutions secured a brownfield modifications services and maintenance support contract from Shell for the Nyhamna and Draugen facilities in Norway.

The contract carries a period of four years and can be extended by up to seven.

The contract covers the offshore Draugen oil platform and the onshore Nyhamna natural gas processing plant in Aukra, which is connected to the Ormen Lange field in the Norwegian Sea.

New consortium to address North Sea NDT challenge

TRAC Oil & Gas, the University of Strathclyde and CENSIS and have agreed to form a consortium to address the challenging issue of the non-destructive testing (NDT) of corroded pipes and engineered temporary pipe wraps used in North Sea operations.

Under the project, the consortium will methodically audit the tools, capabilities and approaches currently used in the oil and gas industry to look at the steel surfaces of assets blocked by layers of material.

Current NDT technologies have limited effectiveness when used on pipes that are protected by insulation. In addition, it is influenced by materials, locations, and accessibility of the assets, complicating the analysis.