Bp News

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.

The West Hercules drilling rig in the Barents Sea. (Photo: Ole Jørgen Bratland / Equinor)

Norway Awards Oil Permits to 11 Firms in Arctic Licensing Round

that the oil companies see opportunities for further profitable petroleum activity in the north," Oil and Energy Minister Terje Soeviknes said in a statement.Equinor, formerly known as Statoil, was awarded five licences and will participate as a non-operating participant in a further two.Shell, Aker BP, Lundin, OMV and Spirit Energy, a Norwegian joint venture between Britain's Centrica and Germany's Bayerngas, were also offered operatorships.Licence operators determine exploration programs and sign contracts with suppliers, in coordination with partners.In addition, DEA, Idemitsu, M Vest

(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

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

(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

© 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: 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

(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: 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

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

(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

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

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

Margareth Øvrum (Photo: Ole Jørgen Bratland / Statoil)

Changes in Statoil's Top Deck

Hegge as Chief Financial Officer. Hegge will become U.S. country manager.John Knight, Statoil's head of global strategy and business development, who is based in London, will be replaced by Al Cook, an executive in the international development and production division, who was once chief of staff to BP CEO Bob Dudley.Tim Dodson remains Statoil's head of exploration."The changes in top management and our business area structure will strengthen our ability to deliver ... as we develop as a broad energy company", chief executive Eldar Saetre said in a statement.In March, Statoil said it

Odfjell Drilling buys “Deepsea Nordkapp”

Odfjell Drilling announced that Aker BP has today awarded Odfjell Drilling a 2 year firm drilling contract with 1+1 year optional periods. The day rates for the drilling contract will be based on market terms to be determined prior to commencement of drilling operations. In addition to the market linked day rate, a performance bonus as agreed in the alliance agreement with Aker BP, as announced on 21 November 2017, will apply. The contract has a minimum value of USD 245 million, subject to certain adjustments.  The commencement of drilling operations is expected in Q2/Q3 2019.   For the

File Image: A photo taken during an offshore DNV GL Drone-enabled survey (CREDIT: DNV GL)

In US Gulf, Robots, Drones Take on Dangerous Offshore Oil Work

At BP's massive Thunder Horse oil platform in the U.S. Gulf of Mexico, a dog-sized robot called Maggie uses magnetic tracks to creep along pipes connecting the giant oil facility to the sea floor. Before MaggHD, dubbed "Maggie" by BP, the dangerous inspection job was reserved for highly paid specialist technicians who did their jobs while rappelling along the platform. The energy industry has turned to robots and drones to cut costs and improve safety in some of the world's tougher working environments. Drones inspect gear high up on floating

Wellhead schematic (Photo: DNV GL)

New Recommended Practice for Wellhead Fatigue Analysis

are represented and described. Early engagement and communication between a wide variety of stakeholders is imperative. This RP provides the common platform to initiate technical studies and facilitate the analysis process.”This was echoed by Buba Kebadze, Sr. Technical Specialist, Subsea Wells, BP  who said “Tremendous effort has been made over last few years by DNV GL and the JIP advisory board to navigate complexities in modelling for wellhead fatigue analysis and facilitate a multitude of approaches and viewpoints existing within different stakeholders in the industry to produce

Marine Technology Magazine Cover Oct 2018 - Ocean Observation: Gliders, Buoys & Sub-Surface Networks

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