2017: The year’s biggest Offshore Technology stories

3 January 2018 (Last Updated January 3rd, 2018 16:44)

Total to acquire Maersk Oil for $7.45bn, Repsol Sinopec confirms first oil flow from Shaw field, offshore UK. Offshore-technology.com wraps up the key headlines from 2017.

2017: The year’s biggest Offshore Technology stories
Tyra East platform in the Danish North Sea, one of the Maersk Oil assets that Total is due to take over in 2018. Credit: THE MAERSK GROUP.

Total to acquire Maersk Oil for $7.45bn

Total agreed to acquire 100% of the equity of Maersk Oil and Gas, a wholly owned subsidiary of AP Møller-Mærsk for $7.45bn.

Under the terms of the acquisition, Total will pay AP Møller-Maersk a consideration of $4.95bn by issuing 97.5 million shares and assume $2.5bn of Maersk Oil’s debt.

Repsol Sinopec confirms first oil flow from Shaw field, offshore UK

Repsol Sinopec Resources UK started producing the first oil from Shaw field as part of the major redevelopment of Montrose Area in the Central North Sea.

The Montrose Area Redevelopment (MAR) project includes development of three new fields Godwin, Cayley and Shaw in the area.

The project will also include a new bridge-linked production platform (BLP) connected to the Montrose Alpha in order to provide additional process and plant support facilities.

Noble Energy to develop Leviathan natural gas project in offshore Israel

Noble Energy and its partners prepared to undertake the first phase development of the Leviathan natural gas project off the coast of Israel.

Noble Energy owns 39.66% working interest in the Leviathan project along with operatorship.

The remaining owners are Delek Drilling with a 22.67% stake, Avner Oil Exploration with 22.67%, and Ratio Oil Exploration (1992) Limited Partnership having 15%.

Proserv wins three decommissioning contracts in North Sea

Energy services company Proserv secured three contracts to carry out decommissioning works in the Norwegian North Sea.

Under contracts totalling more than $2.5m, the company will provide abrasive cutting, diamond wire cutting, grout removal and dredging services.

Cutting services will be provided by the company’s Stavanger facility as part of a full severance package covering subsea and topside works.

UKEF to provide $400m for Ghana offshore project

UK Export Finance (UKEF) issued $400m in funding to support GE Oil & Gas’s contract for Ghana’s Offshore Cape Three Points Project (OCTP).

The $850m contract will help create jobs in Aberdeen and Bristol. This funding is claimed to be the first of its kind by a European agency and UKEF’s first direct loan in an African project.

SapuraKencana Petroleum Berhad secures offshore contracts worth $97.4m

Malaysia-based company SapuraKencana Petroleum Berhad announced that its subsidiaries have secured multiple offshore contracts that carry a combined value of MYR433.6m ($97.4m).

The company’s subsidiary SapuraKencana TL Offshore has received an umbrella contract from Petroliam Nasional Berhad (Petronas) for pan Malaysia transportation and installation of offshore facilities.

The scope of work includes transportation and installation of platform, structures and pipelines along with the ancillary works. This contract carries one year duration, which is scheduled to end in 2018.

Shearwater to perform 3D survey at Wintershall’s blocks in Barents Sea

Shearwater GeoServices Norway received a letter of award (LoA) from Wintershall Norge to conduct a 3D survey of Blocks PL 768/768B in the Barents Sea.

The company plans to use the Polar Empress vessel to carry out the survey that will cover nearly 965km². The vessel is currently deployed in the Barents’s Sea for an ongoing survey.

ExxonMobil seals deal to buy 33% in Brazil’s offshore block for $1.3bn

ExxonMobil completed a $1.3bn agreement to acquire 33% of Statoil’s interest in the BM-S-8 block located 200 miles offshore Rio de Janeiro, Brazil.

Statoil currently holds a 66% interest in the BM-S-8 block, which contains part of the pre-salt Carcara oil field that has an estimated recoverable resource of two billion barrels of oil.

The other part of the Carcara field is in the adjacent North Carcara block, where ExxonMobil’s subsidiary ExxonMobil Exploracao Brasil, Statoil, and Galp subsidiary Petrogal Brasil were high bidders for a production sharing contract.

BP awards EPC contract to WorleyParsons-Grand Isle Shipyard joint venture

A joint venture (JV) between engineering company WorleyParsons and Grand Isle Shipyard signed a five-year master services agreement for engineering, procurement and construction (EPC) services with BP.

Under the agreement, the JV company GW Integrated Solutions will provide a fully integrated suite of asset management services that will focus on implementing a programme of facility modifications and turnarounds across BP-operated offshore assets in the Gulf of Mexico.

Eni reaches $4.675bn financing deal for Coral South FLNG project

Italian oil and gas firm Eni completed the $4.675bn financing deal with its partners for the Coral South floating liquefied natural gas (FLNG) project in offshore Mozambique.

Financing was raised through seven separate facilities.

The project has a capacity of 3.4Mtpa and involves the development of gas resources discovered by Eni and its partners in the Rovuma Basin.