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Oil & Gas

Asco wins Australian floating LNG contract

29/04/2015

Oil giant Shell has chosen Asco to run its Darwin supply base for its Prelude floating LNG project. The contractor will begin a gradual ramp-up from later this year at the facility as part of a five-year deal. ASCO will be handling Prelude's operations and maintenance logistics requirements.

Oil & Gas

Saudi King names Al-Falih Aramco chairman, replacing Al-Naimi

29/04/2015

Saudi Arabia’s King Salman named Khalid A. Al-Falih as chairman of Saudi Arabian Oil Co., the world’s biggest crude exporter, replacing Oil Minister Ali Al-Naimi, according to state television. Al-Falih, born in 1959, was also named health minister in a royal court statement published by the official Saudi Press Agency on Wednesday. He had been president and chief executive officer of Aramco. No replacement for that job was announced. “Having Al-Falih as a full cabinet member now does not preclude him from other ministerial positions including petroleum in the future,” Mohammed al-Ramady, professor of economics at King Fahd University of Petroleum and Minerals in Dhahran, Saudi Arabia, said by phone on Wednesday.

Oil & Gas

X-Subsea businesses go under as oil plunge fallout continues to hit Aberdeen

29/04/2015

Aberdeen firms X-Subsea UK and X-Subsea Atlantic are in administration, with 20 jobs axed, after a downturn in orders. They are subsidiaries of Granite City-based X-Subsea UK Holding (X-Subsea UKH), which is also in administration. Their parent, Norway’s Reef Subsea, went into liquidation in February after backers pulled support in the wake of falling oil prices. But X-Subsea operations in Houston in the US, Ciudad del Carmen in Mexico and Singapore are not in administration.

Oil & Gas

Saudi Prince affirms oil strategy as market seen as ‘excellent’

28/04/2015

Saudi Arabia said it will keep pumping oil to meet any demand for its supplies as the world’s biggest crude exporter seeks to defend its share of the market. The oil market is in “excellent” condition, Prince Abdulaziz bin Salman, Saudi Arabia’s deputy oil minister, told reporters on Monday in the eastern city of Khobar, without elaborating. The kingdom seeks to keep customers happy and maintain stability of prices, demand and supply, he said. Saudi Arabia is affirming its strategy to refrain from reducing output amid a global glut after Oil Minister Ali al-Naimi stressed earlier this month that his country won’t yield market share to higher-cost producers. The biggest OPEC producer pumped at close to a record pace in March, the International Energy Agency reported on April 15. That’s adding to an abundance of supplies fed partly by a US shale boom.

Oil & Gas

Amec Foster Wheeler to reduce headcount by around 60 positions

28/04/2015

Amec Foster Wheeler is in consultation with staff as it looks to make cost savings during the oil price decline. In line with a number of companies, including BP and Shell, the company said a number of its Aberdeen-based employees jobs were at risk. It is understood that while the company is in consultation with 149 members of staff, the move is likely to affect 64 roles.

Oil & Gas

Petrofac to consult with a further 21 offshore staff and 100 onshore staff over jobs

28/04/2015

Petrofac is in consultation with onshore staff as it looks to make reductions to it headcount. The services company said it was in discussion with around 100 members of staff. However it is understood the number of staff who could face job losses is likely to be around 50. As previously reported earlier this month on Energy Voice, in addition to 79 job reductions as a result of EnQuest’s changes to its shift pattern, a further 21 jobs could also go offshore.

Oil & Gas

Wintershall makes minor oil discovery

28/04/2015

The NPD (Norwegian Petroleum Directorate) said Wintershall has made a small gas discovery at the Kristin field. The company said the wildcat well 6406/2-8 had encountered two oil columns over a 130 metre interval in the Bat and Fangst groups. The well was drilled about 20 kilometres south of the Kristin field in the Norwegian Sea and 190 kilometres northwest of Kristiansund.

Oil & Gas

Lamprell wins NDC jack-up contract

28/04/2015

Lamprell has been awarded a contract by NDC (National Drilling Company Abu Dhabi) for the construction and delivery of a high specification jack-up drilling rig. The company has previously been awarded contracts by NDC for a series of eight rigs and this ninth rig will be the same design. The LeTourneau-designed, Super 116E class mobile offshore drilling unit will be constructed at the company's facility in Hamriyah in the UAE (United Arab Emirates).

Oil & Gas

Technip wins Basra refinery contract

28/04/2015

Technip has been awarded a PMC (Project Management Consultancy) contract in partnership with Japanese engineering consultant UNICO. The company said the project is for the upgrading of the Basra refinery in Iraq. It was awarded by SRC (South Refineries Company) covering the engineering, procurement, construction, commissioning and start-up and warranty management phase of the project.

Oil & Gas

Wintershall awarded a new Norwegian drilling permit

28/04/2015

Wintershall has been awarded a new drilling permit by the Norwegian Petroleum Directorate. Well 35/12-5 S will be drilled from the Transocean Arctic drilling facility after completing the drilling of wildcat well 6406/2-8 in production licence 589. The company is the operator with an ownership interest of 45% while the other licensees are Capricorn Norge AS with 20%, Explora Petroleum with 17.5% and Talisman Energy Norge with 17.5%.

Oil & Gas

Statoil spuds Bister well

28/04/2015

Statoil has spudded the Bister exploration well in the Norwegian Sea. The company is operator of the well in licence PL 348/C, which also contains the producing Hyme field and the 2013 Snilehorn discovery. The licence is located adjacent to the producing Njord field.

Oil & Gas

Nearly 100 Wood Group jobs under threat

28/04/2015

Wood Group has confirmed almost 100 jobs are at risk at the Energy service giant. As previously reported on Energy Voice, the company said it had launched a consultation with about 380 staff in its Wood Group PSN business - 80 of whom are expected to lose their jobs - following an operational review aimed at reducing costs and improving efficiency. It is anticipated a further 12 roles will go in the company’s Wood Group Kenny subsidiary.

Oil & Gas

Production resumes from Colombian field

27/04/2015

Baron Oil has resumed production at the Nancy 1 well in Colombia after it was temporarily shut in earlier this month. The company said it was gradually increasing production at the Nancy 1 well in the Nancy Burdine Maxine oil field to the 400 barrels of oil per day target for the site. Baron said maintenance work is also due to begin on the Acae River Bridge this week.

Oil & Gas

Libyan oilfield shutdown after security guard strike

27/04/2015

A Libyan oilfield has been forced to close after a strike by a security guards over salary payments. The state oil firm NOC said the staff members were unhappy about the delay, but said the security forces had been paid although they hadn't paid their guards yet. The El Feel oilfield had only just restarted production after a pipeline had been blocked for months.

Oil & Gas

Petroceltic awards Algerian contract to Sinopec Petroleum Service

27/04/2015

Petroceltic has awarded a contract to drill development wells at the Ain Tsila gas and condensate field in Algeria to Sinopec Petroleum Service. The 1500 horse power rig, which is now built and ready to ship, will drill up to 24 new development wells. The company said the first 12 drilling locations – all in the northern region of the field – have been selected and approved.

Oil & Gas

Kosmos Energy makes “significant” gas discovery

27/04/2015

Kosmos Energy said its Tortue-1 exploration well has made a “significant” gas discovery at the Greater Tortue complex. The company made the discovery in Block C-8 offshore Mauritania. An appraisal program is now being planned for the discovery and in addition the Marsouin-1 exploration well in the central part of Black C-8 is expected to spud in the third quarter of 2015.

Oil & Gas

Premier Oil suspends drilling of Falkland wildcat

27/04/2015

Premier Oil has suspended drilling of the Isobel Deep wildcat off the Falkland Islands due to a problem detected with the BOP (Blowout Preventer). The company's partner Falkland Oil & Gas said following the successful setting of the casing at a depth of 1273.9metres, a problem had been detected, with the well being temporarily suspended. The BOP has been brought to surface for inspection and repairs.

Oil & Gas

Ghana blocked from drilling new oil wells in disputed area

27/04/2015

Ghana can’t drill new oil wells in a disputed sea area with Ivory Coast, according to a special tribunal. The order may impact producers, including Tullow Oil Plc. Ghana and Ivory Coast “shall pursue cooperation and refrain from unilateral action that may lead to aggravating the dispute,” the Hamburg-based International Tribunal for the Law of the Sea said in a statement on its website Saturday. The order is provisional pending a final decision. Ivory Coast challenged sea boundaries with neighboring Ghana and asked the arbitration panel to order Ghana to halt drilling in an area where Tullow operates its Tweneboa-Enyenra-Ntomme project. TEN is set to produce its first oil in mid-2016.

Oil & Gas

Petrobras hunts ‘hidden values’ for potential stock sales

25/04/2015

Petrobras, the world’s most indebted oil producer, may sell stakes in some assets via initial public offerings as part of a wider effort to boost cash levels and improve its financial health. “Our role here is to find the hidden values,” Chief Financial Officer Ivan Monteiro said in an interview Thursday. “There are tons of hidden values at Petrobras, I would say barrels of hidden values.” Monteiro is one of the two bankers President Dilma Rousseff chose in February to steer the oil producer out of an accounting crisis that threatened to trigger an acceleration of debt payments.

Oil & Gas

Weatherford to reduce headcount by another 2,000 jobs

24/04/2015

Energy service giant Weatherford International said yesterday it had ramped up job cuts to 10,000 in response to lower oil prices. The number is 2,000 more than it had previously announced for this year and the new total will leave it with about 39,000 people in its core global operations, plus 6,000 on rigs. Weatherford, which has its global headquarters in Switzerland, with Europe and Caspian business run from offices in Aberdeen, said most of the extra 2,000 jobs being axed were in North America.

Market info

Antin to take its stake in Cats to 99% after BP agrees sale

24/04/2015

Oil giant BP insists it remains committed to the UK North Sea despite it yesterday agreeing to sell its 36.22% stake in the Central Area Transmission System (Cats) pipeline system to a private-equity firm for £324million. BP is the operator of Cats, which is now 99% owned by Antin Infrastructure Partners. ConocoPhillips and Eni own the other 1% between them. Trevor Garlick, regional president, BP North Sea, said: “The North Sea is an important region for BP. “Our strategy here is to focus our resources and investment to create an efficient, sustainable and competitive business which will contribute to UK energy security for many years to come. “Key elements of this are the completion of our major projects in the central North Sea and Shetland area, and continued management of our portfolio.”

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