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Month: August 2022

TechnipFMC awarded major EP&C contract offshore Guyana

August 4, 2022
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TechnipFMC has been awarded a significant (1) contract by ExxonMobil affiliate, Esso Exploration and Production Guyana, for the Gas to Energy Project in Guyana. Subject to final project sanction, TechnipFMC will provide engineering, procurement, construction and installation of subsea risers and pipelines. The project will connect the production from Liza Destiny and Unity back to shore, delivering associated gas from the field to a gas-fired

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Shell awards Bilfinger multi-million dollar maintenance contract offshore GOM

August 4, 2022
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Bilfinger has been awarded a multi-million dollar annual contract for the routine mechanical maintenance scope for Shell's oil and gas platforms in the Gulf of Mexico (GOM). The industrial services provider will be responsible for all routine maintenance services and fabrication across Shell’s Deepwater GOM fleet for a minimum of three years, with the option to extend for a

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Saipem awarded over $300 million E&C contract of the cost of Italy

August 4, 2022
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Saipem has been awarded an offshore E&C contract by Enimed, a subsidiary of Eni, for the Transportation and Installation of an offshore gas pipeline connecting the four wells of Argo and Cassiopea fields to the Sicilian coast (Italy), worth approx. 300 million Euro. With a length of 60 km and a maximum water depth of 660 mt, the 14” gas pipeline will be

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Transocean awarded two new contracts, over 7 years of backlog valued at $1.2 billion

August 4, 2022
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Transocean has announced that the ultra-deepwater drillship, Deepwater Conqueror, has been awarded a two-year contract by a major operator for work in the U.S. Gulf of Mexico at $440,000 per day with up to an incremental $39,000 per day for additional products and services. Excluding revenue associated with the additional products and services, the new contract adds an estimated $321 million in backlog and is

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Petrofac awarded $200 million EPC contract in Algeria

August 4, 2022
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Petrofac, leading a consortium with Genie Civil et Batiment (GCB), has received notification of a provisional award for an engineering, procurement and construction contract with Sonatrach for the Tinrhert EPC2 Development Project in Algeria. The contract is valued at approx. US$300 million, with Petrofac’s share around US$200 million. Located in Alrar, around 1,500 kms southeast of Algiers, EPC2 will provide a new Central Processing

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High impact exploration wells on the rebound

August 4, 2022
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38 high-impact exploration wells were drilled in the first half of 2022, similar to the same period in 2021 when 39 wells completed. The 38 wells resulted in 13 potentially commercial discoveries at a 34% commercial success rate, delivering ~6bnboe of discovered resource. Eight of the wells tested frontier plays, with significant basin-opening discoveries at Venus and Graff

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Shale drilling climbs to levels not seen since early weeks of pandemic

August 1, 2022
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Shale explorers are searching for oil at rates not seen since the early weeks of the pandemic as high crude prices incentivize drilling.   Oil rigs operating in US fields increased by 6 this week to 605, marking the biggest weekly expansion since June 24, according to Baker Hughes Co. data released Friday. It was the seventh weekly increase in

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