Bp News

'Frog's Leg' Proves Bountiful for Aker BP

Aker BP finds up to 153 million barrels of oil equivalents in North SeaAker BP has discovered an oil and gas reservoir while drilling near its Alvheim field in the North Sea.Known as Froskelaar (Frog's Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents, and may straddle Norway's maritime border with Britain."The drilling operation will continue, and a comprehensive data collection program will be performed to determine the size and quality of the discovery," Aker BP said in a statement.When reserves are found to stretch across

Ivar Aasen platform (Photo: Aker BP)

Ivar Aasen Now Operated from Land

Aker BP on Wednesday said it has begun operating the permanently manned North Sea platform Ivar Aasen from an onshore control room in Trondheim, Norway.The Ivar Aasen platform was constructed with two identical control rooms – one on the platform and the other in Trondheim – and the Norwegian company said the plan has always been to move the controls to land. The company received the green light from Norway's Petroleum Safety Authority in November and this week started using its onshore site to monitor facilities, production, equipment and follow up everything that takes place on

The contract was signed at AkerBPs offices. Back, from the left: Inge Sundet, Aker BP; Hans Andreas Øygarden, Aker BP; Tor-Øystein Carlsen, Optime; Trond Løkka, Optime; Thor Øystein Finborud Tovsrud, Optime; Tor Otto Lidal, Aker BP. Front, from the left: Mads Rødsjø, Aker BP; and Jan-Fredrik Carlsen, Optime. (Photo: Optime Subsea)

Optime Subsea Bags Long-term Deal with Aker BP

Norwegian based Optime Subsea said it has been selected by Aker BP to provide well access system and services on the Norwegian continental shelf (NCS) for the next two years, with extension options.Aker BP will in the next two years use Optime Subsea’s Subsea Controls and Intervention Light System (SCILS) and related services, for its well access operations on the NCS. The system will be deployed this spring on Aker BP’s Jette as part of their plug and abandoment operations and Skogul for its installation campaign.“Using Optime Subsea’s SCILS ties well into our strategy of

Atlantis platform (Photo: BP)

TechnipFMC Scores Contract for BP's Atlantis Phase 3

TechnipFMC announced Wednesday it has been awarded an engineering, procurement, construction and installation (EPCI) contract by BP for the Atlantis phase 3 project in the Gulf of Mexico.TechnipFMC did not specify the exact value of the contract, but said the deal is worth between $75 million and $250 million.BP announced its plans to move forward with its $1.3 billion Atlantis phase 3 development on Tuesday after it discovered an additional 400 million barrels of oil in place at the Gulf of Mexico’s third largest oil field.Following final investment decisions from all partners, TechnipFMC said

David Millar, Director TechX Program, The Oil & Gas Technology Center

TechX: Pioneering and Accelerating

the OGTC’s first TechX Pioneers program are already making their mark on the industry, with some of the industry’s key players keen to trial their technological solutions to sector challenges.One of the TechX Pioneers, Tenzor Geo, has secured offshore trials of its micro seismic technology with BP in the North Sea, starting early in 2019.Test1, who have developed a unique foam which can soak up oil from spills – so the oil can be recovered, and the foam reused – are carrying out field trials at Aberdeen Harbor.Blue Gentoo, a firm which has produced a hydrate management tool that

(Photo: Expro)

Expro Wins BP Extension

Oilfield services company Expro said it has secured a four-year contract extension for BP’s Shah Deniz Stage 2 project in the South Caspian Sea.The contract extension will see Expro continue its provision of subsea landing string equipment and services to the project.In 2014, Expro secured a five-year contract for the project, providing its Landing String Assembly – High Pressure (ELSA-HP) 15k valves in conjunction with its EXPRESS electro hydraulic control systems.Expro's new $5 million purpose-built facility in Baku, Azerbaijan will support the work. The facility opened Thursday will

TGS CEO Kristian Johansen (Photo: TGS)

TGS Remains Upbeat as Shares Drop

to spend despite a raft of upbeat earnings.TGS, which maps the seabed in search of hydrocarbon deposits for oil firms, reported quarterly operating profit of $24 million, down from $26 million a year ago and missing a forecast of $37 million returned by a Reuters poll.While oil companies like Shell, BP and Total are reporting bumper profits in the third quarter, they are keen to control costs, so their suppliers are yet to reap the benefits from an upturn in the oil price."E&P (exploration and production) companies are still spending out of their 2018 budgets, which on aggregate were flat

(Photo: Aker BP)

Aker BP Q3 Operating Profit Beats Forecast

Aker BP's third-quarter operating profit rose more than expected, helped by a boom in oil prices, the Norwegian oil firm said on Friday, while reducing planned capital and exploration spending.Earnings before interest and taxes (EBIT) rose to $548 million from $219 million in the same quarter a year ago, beating the $521 million expected by analysts in a Reuters poll.The company slightly reduced its 2018 capital spending guidance to $1.25 billion from $1.3 billion, and exploration spending to $400 million from $425 million, while maintaining its production guidance at 155,000-160,000 barrels of

(Image: Total)

Total Makes Major Offshore UK Gas Discovery

a huge concern so far in 2018 with just five exploration wells spudded to date – on track for lowest levels of activity since the 1960s. So this discovery is welcome news," Swann said in a statement.He said that although the West of Shetland region was under-explored, it was core for oil majors BP, Shell , Total and Chevron, and large development projects were expected to boost production from it through to the mid-2020s.Total has a 60 percent stake in Glendronach, while Ineos E&P UK Ltd and SSE E&P UK Limited each hold 20 percent stakes.Total shares were up 0.9 percent by 1418 GMT.(Reporting

John Warrender, Chief Executive, Decom North Sea and Bill Cattanach, Head of Supply Chain at the OGA. (Photo: Decom North Sea)

Forum Tackles Decom Challenges

resulting in the generation of over 120 potential solutions.Setting the scene, the Oil & Gas Technology Center and Opportunity North East shared challenges from previous Hackathon events, identifying how these initiatives are currently being taken forward.  The six participating operators - BP, Fairfield Energy, Marathon, Spirit Energy, Total and TAQA – then presented on 18 challenges, set alongside a regulatory context provided by OPRED and SEPA.Discussing the event, John Warrender, Chief Executive of Decom North Sea, said, “The scale of contribution to this event has both impressed

(Photo: Aker BP)

Aker Bets on Software Engineers for Its Oil Business

When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one.So instead they set up their own, Cognite, to create digital maps of Aker BP's oil industry assets, integrating data from equipment such as pumps, heat and pressure sensors, maintenance records and even staff rotas to improve efficiency and safety.Less than two years later, Cognite is selling its software to Aker BP's rivals and one competitor, Sweden's Lundin Petroleum, has even agreed to share its

Illustration / TRY courtesy Equinor

Aker BP CEO Predicts Fast Johan Sverdrup Ramp-up

Aker BP, a partner in Norway's giant Johan Sverdrup oilfield, expects a fast ramp-up of production when the initial development phase ends in late 2019, its chief executive said on Thursday."I think it will be done in a few months, because the production per well is so high," Karl Johnny Hersvik told Reuters on the sidelines of an energy conference.Johan Sverdrup Phase 1 will have capacity to produce 440,000 barrels of oil equivalents per day (boed), while the second phase, starting production in 2022, is expected to further boost output to 660,000 boed.Sweden's Lundin Petroleum

© Eugenio Roqueñi / MarineTraffic.com

Transocean to Buy Ocean Rig in $2.7 Bln Deal

Norwegian rig firm Songa Offshore in a $1.1 billion deal."We see strong contract opportunities emerging across the globe for the combined fleet (particularly in Brazil)," analysts at Tudor Pickering & Holt Co wrote in a note on Tuesday.Majors, including Norway's Equinor, Chevron Corp and BP, won bids for offshore blocks in Brazil, which hold billions of barrels of oil.Elsewhere, Exxon Mobil Corp said last month it had begun offshore exploration drilling off Australia's southeast coast, while also pursuing finds at its offshore Guyana discovery."The announcement is not a surprise

(Photo: MMT)

MMT Inks 10 New Contracts over 2 Months

.MMT said the contracts, some of which are in joint collaboration with MMT’s Norwegian partner Reach Subsea, come from a wide portfolio of old and new clients, including Siccar Point Energy, Equinor, Perenco, SSE, Örsted, Vattenfall, GreenLink Interconnector, National Grid, Wintershall and BP Trinidad.Services range from traditional geophysical surveys to unexploded ordinance (UXO) inspection and excavation, 2d seismic and remotely operated vehicle (ROV) inspections.MMT will deliver its Surveyor Interceptor ROV survey solution in several projects this summer and autumn

Photo: IKM Subsea

IMR Contract to IKM Subsea

Aker BP has awarded IKM Subsea an ad-hoc call of agreement for light IMR services on the Norwegian continental shelf. The duration of the contract is 3 years with additional six years of options. IKM Subsea will provide onshore project management, engineering, tooling preparation and offshore operations utilizing its Merlin ROV fleet.

(Photo: Aker BP)

Aker BP Adds More Acreage off Norway

Norway's independent oil firm Aker BP has agreed to buy stakes in 11 production licenses off Norway from French Total for a cash consideration of $205 million, the company said on Tuesday.The portfolio includes four discoveries with net recoverable resources of 83 million barrels oil equivalents based on estimates from the Norwegian Petroleum Directorate (NPD), it added."With this transaction, we get access to new tie-back opportunities in the Alvheim and Skarv areas, we strengthen our resource base in the NOAKA area, and we increase our interest in exploration acreage near the Ula field

The Grane platform in the North Sea. (Photo: Harald Pettersen / Equinor ASA)

Equinor Awards $3.7 Billion Service Deals

," Equinor, formerly known as Statoil, said in a statement."This results in less interfaces and more clearly defined responsibilities, facilitating more seamless planning and implementation of the operations between the various contributors," it added.Last November, oil firm Aker BP signed a five-year integrated well service alliances with Halliburton, Odfjell Drilling and Maersk Drilling.($1 = 8.1563 Norwegian crowns)(Reporting by Nerijus Adomaitis, editing by Terje Solsvik

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