Statoil made plans to raise more than $2bn from 2020 to 2025 through establishing an integrated operations support centre (IOC) and drilling operations facility in Bergen, Norway.
Beginning this year, the company intends to connect the centres to all of its installations on the Norwegian Continental Shelf (NCS) in a phased manner, with Gina Krog, Grane, and Åsgard set to become the first fields to be connected.
In order to enhance value from the operated fields on the NCS and achieve operational as well as production efficiencies, the company plans to invest between Nkr1bn ($127.7m) and Nkr2bn ($255.39m) in digital technologies up to 2020.
French exploration and production company Total completed the previously announced acquisition of AP Moller and Maersk’s subsidiary Maersk Oil to strengthen its position in the North Sea.
Originally signed in August last year, the acquisition is set to result in around one billion barrels of oil equivalent of 2P/2C reserves and resources to Total.
The company will also have a production of about 160,000 barrels of oil equivalent per day (boe/d) this year, with an opportunity to have increased production of more than 200,000boe/d by the early 2020s.
Oil Spill Response (OSRL), a UK-based company specialising in the global fight against oil spills, launched Offset Installation Equipment (OIE), the latest development in subsea well capping technology.
The launch was carried out from the equipment’s new home base in Trieste, Italy.
OIE is reported to be the culmination of six years’ work between members of the Subsea Well Response Project (SWRP), OSRL and Saipem.
Australia signed a treaty with Timor-Leste to pursue joint development, exploitation and management of the Greater Sunrise gas fields.
The Treaty also drew the maritime border between Australia and Timor-Leste in the Timor Sea.
The special arrangement will see the transfer of certain offshore petroleum operations and areas from the current Joint Petroleum Development Area (JPDA) to Timor-Leste’s exclusive jurisdiction.
The Oil & Gas Technology Centre (OGTC) partnered with the University of Aberdeen to establish a new decommissioning centre in Scotland.
Termed ‘Centre of Excellence’, the institution will be based at the university’s Oceanlab facility and will address current and future challenges with research and development (R&D) in collaboration with industry.
Around 100 platforms and 7,500km of pipeline on the UK Continental Shelf are projected to be decommissioned over the next ten years, with costs expected to reach £59bn by 2050.
Energean Oil & Gas received approval from its board for the final investment decision (FID) to go ahead with the $1.6bn development of Karish and Tanin fields off the coast of Israel.
Energean recently raised $460m from an IPO and the company now intends to use $405m from this to fund its 70% share in the development of the fields.
The approval comes after the company secured a $1.275bn senior credit facility with Morgan Stanley, Natixis, Bank Hapoalim and Société Générale to arrange funding to develop the Karish field over the next three years.
The China National Petroleum (CNPC) signed agreements with the Abu Dhabi National Oil Company (Adnoc) to acquire stakes in two concession areas located off the coast of Abu Dhabi for a total consideration of AED4.3bn ($1.17bn).
Pursuant to the deals, CNPC secured a 10% interest in the Umm Shaif and Nasr concession for AED2.1bn ($575m) and a 10% interest in the Lower Zakum concession for AED2.2bn ($600m). The transactions were completed via CNPC subsidiary PetroChina.
The stakes in the concessions, which are operated by Adnoc Offshore, will be valid for a period of 40 years.
Schilling Robotics selected industrial internet of things (IoT) connectivity company Real-Time Innovations’ (RTI) RTI Connext DDS as the connectivity framework for its underwater remotely operated vehicles (ROVs).
A business unit of TechnipFMC, Schilling Robotics will use RTI’s technology to build next-generation remote robotics controls to ensure faster and more secure connectivity within underwater ROVs, which are used in complex subsea and offshore projects.
Capable of operating at depths of 3,000m or more below sea-level, the ROVs assist with servicing subsea infrastructure and managing assets.
Consortium of software company Arundo Analytics and automation technologies supplier ABB created the first Cloud-based virtual multiphase flow metres for the offshore oil and gas industry.
According to ABB, the new solution is set to be part of the fully integrated ABB Ability portfolio.
The Cloud-to-Cloud solution will offer a more reliable option for operators by providing connectivity between ABB Ability and Arundo’s Composer and Fabric software.
Scientists were engaged in the development of a ‘living’ sensor that leverages the metabolic process of bacteria to detect gas leaks in real-time.
The development is part of the researchers’ efforts to prevent environmental disasters and fuel-distribution disruptions caused by pipeline leaks.
Last autumn, the Colonial Pipeline, which carries fuel from Texas to New York, developed cracks leading to spillage of a quarter-million gallons of gas in rural Alabama.