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Cushing storage approaching critical low level

October 22, 2021
| Archives

Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel. The storage tanks in Cushing, Oklahoma, require a minimum level of oil to maintain normal operations, which traders generally believe is around 20 million barrels. Unusually for this time of year, stockpiles declined

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Energy crisis is a wake up call for more investment

October 21, 2021
| Archives

The current energy crisis is a wake-up call for the need to invest more in the sector to avoid another energy supply crunch, Abu Dhabi National Oil Company (ADNOC) Chief Executive Sultan al-Jaber told a conference on Wednesday. The oil minister of India, the world's third biggest oil consumer and importer, echoed Jaber's comments, while OPEC's secretary general

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Guyana eyes new subsea pipeline construction

October 21, 2021
| Archives

Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy. Work will begin on constructing a major gas-fired power plant in 2022 on the expectation that a 220-kilometer (135-mile) pipeline will be built, according to Peter

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Aker receives LOI from Equinor on Wisting FPSO

October 21, 2021
| Archives

Aker Solutions has received a Letter of Intent (LOI) for a front-end engineering and design (FEED) contract from Equinor, for the FPSO for the Wisting field development in the Norwegian Barents Sea. The intended FEED contract includes an option for engineering, procurement, construction and integration (EPCI) of the topside for the FPSO. The scope of the FEED is to provide front-end design-

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Bourbon revitalizes fleet with plans for 35 crew support vessels

October 21, 2021
| Archives

The two first crewboats of the new BOURBON Surfer-200X series have just ended their sea trials off the Normandy coast in France and will operate along the Gabonese coast for TotalEnergies in the next weeks. Bourbon Mobility will accelerate its fleet transformation within the next 3 years and plans to build 40 new units in total. After 2

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Valaris reactivates DS4 for long term work in Brazil

October 20, 2021
| Archives

Valaris Limited announced that it has been awarded a contract with Petrobras offshore Brazil for drillship, VALARIS DS-4. The contract is for a minimum term of 548 days. The rig is currently preservation stacked in the UK and will transit to the Canary Islands, where it will be reactivated and then mobilized to Brazil. The contract is

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TGS, BGP, CGG sign agreement with Staatsolie for multi-client programs offshore Suriname

October 20, 2021
| Archives

TGS, in a consortium with CGG and BGP, has announced the signature of a multi-client agreement with Staatsolie, the state-owned company leading the development of the energy industry in the Republic of Suriname. The agreement allows the consortium to acquire, promote and license multi-client seismic programs, including new 3D acquisition and legacy data reprocessing, in the shallow water acreage offshore Suriname. Suriname’s shallow

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Fugro awarded 2 year contract offshore India

October 20, 2021
| Archives

OCS Services, one of India’s leading marine service providers, has awarded Fugro a 2-year contract to support its asset integrity and corrosion management operations off the west coast of India. The contract was awarded based on Fugro’s offshore operational excellence and successful track record in India. Fugro will help OCS deliver on ONGC’s Protective Coating of Process Platform Project 1 (PCPP1),

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Compact Driller bags work with Cairn India

October 19, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that market sources indicate that Shelf Drilling jackup Compact Driller has been secured for a four-well contract by Cairn India, which is expected to last for around six months. Work will be undertaken in the CB/OS-2 block in the Cambay Basin.

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Essar Wildcat heads back to work

October 19, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that market sources indicated the semisub Essar Wildcat will next month be put out to work for Pertamina offshore Indonesia at the Aceh NSO (North Sumatra Offshore) Block. It is understood that the rig will initially drill three wells, lasting for

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