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In a new research note examining the offshore drilling sector, Citi outlines its base case assumptions and market outlook for dayrates and oil pricing fundamentals. Among the offshore drillers, Citi highlighted Seadrill (OL: SDRL ) as the most attractive, forecasting a free cash flow yield of more than 20% in 2027 at $400,000 dayrates.
Perenco recently announced the completion of the tests at the depleted Leman natural gas reservoir in the Southern North Sea using Petrodec’s ERDA rig, the first rig in the UK to have achieved an approved safety case for supporting CCS operations.
BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas.
Mariano Guerrico, Global Technology Manager, Tracerco, describes how cutting-edge technology has transformed flow control and monitoring, showcasing a case study from the Santos basin offshore Brazil.
The post Ending Well, Leading Forward: How Behavioural Coaching Transformed a Complex Offshore Decommissioning Project appeared first on Offshore Energies UK (OEUK).
This deployment features the second-generation Latch Hawk system, which includes key advancements such as novel sensor technology, enhanced shock and vibration resistance, a more robust casing design, cloud-based digital condition monitoring and an extended battery life of more than seven years. Already a member?
On May 17, 2023, the United States District Court for the District of Massachusetts dismissed plaintiffs’ challenges to the Vineyard Wind Project—the United States’s first major offshore wind project. United States Department of the Interior , 1:21-cv-11091-IT; and Responsible Offshore Development Alliance v.
OEUK has consistently made the case for the build out of homegrown renewable energy alongside the responsible production of domestic oil and gas. The UK’s offshore basin is naturally declining – with over 280 active oil and gas fields today, but around 180 expected to cease production by 2030. This is normal in a mature basin.
According to Baker Hughes, its well abandonment portfolio includes technologies such as PRIME Powered Mechanical Applications, CICM (Casing Integrity and Cement Mapping), the MASTODON casing retrieval system, and the Xtreme SJI mechanical slotting tool. To contact the author, email andreson.n.paul@gmail.com WHAT DO YOU THINK?
The high-volume, low-cost development offshore the South American country, which started production just five years ago, is already pumping more than 660,000 barrels per day (bpd) of crude. Hess and Chevron claim the JOA doesnt apply to a case of a proposed full corporate merger. Hess Corp, and CNOOC of China. Hesss share was $1.88
Opened by the Secretary of State for Energy Security and Net Zero, Ed Miliband, in January 2025, LEEF is strategically positioned to support the offshore energy industry in the southern North Sea and specifically Lowestofts position as an onshore hub for offshore energy.
(Oil Price) –BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. Production is also expected to grow to 2.32.5 Two of the 10 new major projects have now started production this year.
Centrica Energy Storage+ (CES+) is a vital part of the Centrica family, managing the Rough gas storage facility offshore Yorkshire, with half the UKs gas storage capacity, and the Easington onshore terminal that it uses. Its ambitious vision includes transforming it into Europes largest long[1]duration hydrogen storage facility.
It aligns with the Offshore Energies UK (OEUK) Supply Chain Principles and the objectives of environmental, social, and governance (ESG) reporting. Legacy Locker promotes open and collaborative practices in the traditionally closed sector of offshore oil production and this is recognised by many operators.
It aligns with the Offshore Energies UK (OEUK) Supply Chain Principles and the objectives of environmental, social, and governance (ESG) reporting. Legacy Locker promotes open and collaborative practices in the traditionally closed sector of offshore oil production and this is recognised by many operators.
In recent years, offshore companies have witnessed a marked uptick in the number of enforcement actions undertaken by the Bureau of Safety and Environmental Enforcement (BSEE). [1] BSEE has also begun to target offshore contractors, who, until recently, have not faced exposure to agency enforcement actions. See Island Operating Co.,
said it will be business as usual in its massive Guyana oil field if it loses its arbitration case against Chevron Corp. But if the judges decide thats not the case, then we get a new partner, business carries on as normal. (World Oil) – Exxon Mobil Corp. and Hess Corp. You have to protect your contractual right.
Read the Full Supply Chain Report 2025 >> The post Supply Chain Report 2025: Peterson Energy Logistics case study appeared first on Offshore Energies UK (OEUK).
The complex auction meant to repay 18 creditors for debt defaults and expropriations by Venezuela and state oil company PDVSA was relaunched in January after a year-long bidding process ended in shambles amid arguments over Citgos worth and parallel legal cases. Creditors are collectively seeking up to $21.3 BONDHOLDER ISSUES The Red Tree $3.7
Flint 1 applied to the case at hand, barring claimants from recovering economic damages for deferred oil production. This case required a complex analysis of Robins Dry Dock due to separate entities, under claimants’ parent company, owning the pipeline, and leasing the wells and platforms. 2 In re Falcon Global Offshore II , No.
Working on an offshore oil rig or platform is a unique experience Note: In this article, we’ll use the word ‘rig’ and ‘platform’ almost interchangeably, but a rig does the drilling, and a platform does the pumping. Offshore oil fields represent a substantial portion of the worlds total crude oil output.
Offshore Drilling – Some natural gas deposits are found under the ocean floor, requiring specialized offshore drilling platforms. In some cases, natural gas is cooled to -260°F to become liquefied natural gas (LNG) , making it easier to transport overseas. How Do We Use Natural Gas?
A UK based firm Core Power is working on a concept for an offshore facility that combines advanced nuclear power (molten salt reactor) with an offshore ammonia production facility, which would enable affordable production of green ammonia for shipping.
Brown coal gasification clearly involves fossil fuels, though in this case the Australian plant is being constructed with “carbon capture” and storage underground offshore. Hydrogen shipping Liquid Hydrogen LH2 is classified according to the production method.
The leading trade body for the offshore energy sector, OEUK, launches its new Offshore Wind Insight Report at the All-Energy conference in a breakfast briefing sponsored by Deloitte at Glasgows SEC venue on Thursday 15 May. A third roadshow will take place the Cavendish Conference Venue in London on June 4.
Under this doctrine, “a court may decline to exercise its jurisdiction and dismiss a case that is otherwise properly before it so that the case can be adjudicated in another forum.” This is the analysis the Court applied in the instant case of Noble House LLC v. The case is Noble House, L.L.C. May 1, 2023).
Newton , were offshore rig workers who filed a class action asserting that their employer violated California’s minimum wage and overtime laws by failing to pay them for stand-by time while they were on the drilling platform. The plaintiffs in Parker Drilling Management Services, Ltd.
million, while an Offshore Wind Farm in the UK increased its revenue by 6%, demonstrating how data-driven decisions can simultaneously optimize business performance and advance sustainability goals. Workbench to create KPIs, FMEAs, and use cases. for wind speed and 15.1% for wind power, resulting in a 6% revenue increase.
The Violation In March 2012, BSEE conducted an inspection of ATP’s floating production platform facility, known as the ATP Innovator, while it was moored to the sea floor about 45 nautical miles offshore of southeastern Louisiana (about 125 miles south of New Orleans) and engaged in the production of oil and natural gas.
Sahil Kochhar, head of Presales, Miros outlines the benefits of smart, data-driven solutions for effective jack-up operations For around 70 years, jack-up rigs have been at the forefront of offshore oil and gas exploration, acting as mainstays for drilling and production activities in most of the worlds hydrocarbon hotspots.
businesses, in some cases require mandatory national security review of transactions. real estate transactions, which could encompass federal offshore leasing. New, expanded CFIUS regulations went into effect on February 13, 2020. The regulations, dealing with foreign acquisition of control of U.S. businesses and investing in U.S.
A new report from Wood Mackenzie, 'Trading cases: Tariff scenarios for taxing times', presents three futures for the global energy landscape, highlighting the far
This is not a problem offshore where oil can be recovered from the PW so that it can be discharged overboard. This has caused regulating agencies to cut back on permitted disposal volumes in Seismic Response Areas (SRA) and in some cases to shut down permitted disposal entirely. Please upgrade your browser to improve your experience.
Instead, BSEE decided to retain the current framework, under which BSEE’s position is that it may issue decommissioning orders to any or all jointly and severally liable parties in the chain of title on a case-by-case basis. BSEE’s final rule can be found at 88 Fed. 23569 (April 18, 2023).
Offshore Energies UK (OEUK) has today released a report outlining key recommendations for policymakers to accelerate the UK hydrogen sector. Exemplifying this, the report incorporates several case studies showcasing live projects from across the value chain.
Maintaining that the plaintiff qualified as a seaman under controlling Fifth Circuit precedent but questioning that precedent in light of Supreme Court case law, the panel urged the Fifth Circuit to review the case en banc. Enterprise Offshore Drilling LLC , 376 F.Supp. Enterprise Offshore Drilling LLC, 2019 WL 2515307 (Jun.
Maintaining that the plaintiff qualified as a seaman under controlling Fifth Circuit precedent but questioning that precedent in light of Supreme Court case law, the panel urged the Fifth Circuit to review the case en banc. Enterprise Offshore Drilling LLC , 376 F.Supp. Enterprise Offshore Drilling LLC, 2019 WL 2515307 (Jun.
The district court dismissed their case under Federal Rule of Civil Procedure 12(b)(6). Hercules Offshore, Inc., The district court dismissed their case under Rule 12(b)(6). 2] Here, this was not the case. Hercules Offshore, Inc., Hercules Offshore, Inc., See Barker v. 3d 208, 224 (5th Cir. Texaco, Inc.,
The term “crossover” comes from how the sub allows tools to transition or cross over between the larger bore of the BOP and the narrower bore of wellhead/casing strings. They also contain an internal bore large enough to accommodate casing, drill pipe, and downhole tools that must pass through during drilling.
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