oil rig

Shell to halt oil exploration in Arctic waters offshore Alaska

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Shell announced that it will to stop exploration activity in Arctic waters offshore Alaska after disappointing results from drilling at an exploratory well.

Shell recently drilled the Burger J exploration well in Alaska’s Chukchi Sea to a total depth of 6,800ft.

The well is 150 miles from Barrow, Alaska, in around 150ft of water.

Shell said that the indications of oil and gas found in the Burger J well are not sufficient to carry out further exploration in the Burger prospect.

Statoil completes final stretch of Polarled natural gas pipeline in Norwegian Sea

Statoil

Statoil laid the last pipe in the 482.4km-long Polarled Pipeline at Aasta Hansteen field, at a 1,260m depth in the Norwegian Sea.

The 482.4km long Polarled Pipeline crosses the Arctic Circle and opens up a new route for gas from the Norwegian Sea to Europe.

Laid by pipelaying vessel ‘Solitaire’ from Allseas, the pipeline extends from Nyhamna in Møre og Romsdal to the Aasta Hansteen field and will have a capacity of up to 70 million standard cubic metres of gas per day.

Siemens unveils lightweight gas turbine for offshore oil and gas industry

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Siemens launched its new lightweight aero-derivative gas turbine, RB211-GT30, for the offshore oil and gas industry.

Siemens said it will use the combined expertise of Rolls-Royce Energy and Dresser-Rand, which supplied a significant share of the 20MW to 40MW offshore power generation on FPSOs worldwide to offer better solutions for the offshore market.

The Industrial RB211-GT30 is said to be the first new product as a result of the union.

SHI launches semi-submersible for Inpex’s $34bn Ichthys LNG project, Western Australia

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Shipbuilder Samsung Heavy Industries (SHI) launched the semi-submersible that will serve as the central processing facility (CPF) for Inpex‘s $34bn Ichthys LNG project off Western Australia.

It was launched from SHI’s shipyard in Geoje, South Korea. Inpex president director Australia Seiya Ito said: "This milestone is a clear demonstration that the Ichthys LNG Project is making good progress and that we are working in an excellent spirit of cooperation with our Korean contractors."

Ichthys LNG project managing director Louis Bon said: "The operation was completed within two days in the safest conditions.

North Sea oil and gas sector loses 5,000 jobs since 2014, says report

A report released by the UK’s Oil and Gas Authority (Oga) revealed that the North Sea oil and gas sector has lost more than 5,000 jobs since late-2014.

The new ‘Call to Action’ report, commissioned by the UK Secretary of State for Energy and Climate Change, identified the key risks facing Britain’s oil and gas industry after a fall in global oil prices.

A 55% fall in brent crude prices created a challenging economic environment for companies involved on the UK Continental Shelf (UKCS), the report added.

"We should be in no doubt about the scale of the challenge ahead, but it is important that we recognise the progress that has been made over the past six months."

EU approves Shell’s proposal to acquire BG Group for $70bn

The European Commission approved Shell’s previously announced proposal to acquire British oil and gas firm BG Group in a $70bn deal.

The European antitrust regulator cleared the deal, stating that it would not give Shell market power to benefit in sectors such as oil and gas exploration, liquefaction of gas and the wholesale supply of liquefied natural gas (LNG).

Shell will also not be able to prevent competitors from using its North Sea gas infrastructure.

The commission also found that Shell would be unable to stop its competitors from gaining access to its liquefaction facilities or from gas transportation and processing infrastructure in the North Sea.

US BOEM to offer oil and gas lease in Central and Eastern Gulf

The US Bureau of Ocean Energy Management (BOEM) is set to offer contracts for oil and gas exploration and development across 40 million acres in central and eastern Gulf of Mexico planning areas, offshore Louisiana, Mississippi, and Alabama.

The latest announcement comes as part of President Obama’s energy strategy to expand domestic energy production.

BOEM director Abigail Ross Hopper said: "As one of the most productive basins in the world, the Gulf of Mexico is a cornerstone of our domestic energy portfolio, offering vital oil and gas resources that further economic growth and continue to reduce our dependence on foreign oil.

Inpex sends revised plan of development for Abadi gas field offshore Indonesia

Inpex

Inpex submitted a revised plan of development (Revised POD) of the Abadi gas field in the Masela Block, Arafura Sea, Indonesia, to the Indonesian Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas).

In collaboration with its strategic partner Shell, the company is preparing for the development of the Abadi gas field as operator through its subsidiary INPEX Masela.

Under the revised POD, a floating LNG (FLNG) plant is expected to be adopted, which would have an annual LNG processing capacity of 7.5 million tonnes (Mt).

Based on developing the Abadi gas field in stages, the initial plan of development (POD-1) targeted the deployment of an FLNG plant with an annual LNG processing capacity of 2.5Mt.

Höegh LNG and Bechtel to perform pre-FEED work for Steelhead’s Malahat LNG project in Canada

Floating energy solutions provider Höegh LNG and construction company Bechtel were selected to perform pre-front end engineering and design (pre-FEED) work for energy company Steelhead LNG’s proposed Malahat LNG project south of Mill Bay on Vancouver Island.

The project comprises floating natural gas liquefaction and export facilities located on the shoreline of Malahat Nation-owned land.

Steelhead LNG CEO Nigel Kuzemko said: "This agreement is a reflection of our commitment to developing projects to the highest technical and environmental standards.

NNPC secures $1.2bn drilling financing package for 36 oil wells in Nigeria

The Nigerian National Petroleum (NNPC) secured a $1.2bn multi-year drilling financing package for 36 offshore/onshore oil wells from a consortium of Nigerian and international lenders.

The package received under the NNPC/Chevron Nigeria joint venture (JV) is an integral part of the accelerated upstream financing programme initiated by the company.

According to NNPC, the programme is aimed at addressing the persistent challenges experienced by the federal government in providing its counterpart funding of JV upstream activities.

In two stages, the latest package will be channelled into the development of 23 onshore and 13 offshore wells on OML 49, 90 and 95 during 2015-18.