AGR Secures Frame Agreement with Petoro for Oil and Gas Work
a frame agreement to AGR for the provision of independent consultancy and third-party verification studies within subsurface, drilling and wells and field development.Petoro is a state-owned limited company which manages the Norwegian state’s direct financial interest in the Norwegian oil and gas sector.The company’s most important task is to ensure maximum value and achieve the highest possible income to the state from its oil and gas assets. Petoro is not an operator, but has the same rights and obligations as other licensees on the Norwegian continental shelf (NCS).The frame agreement
Dril-Quip and Innovex Agree Merger in All-Stock Deal
Dril-Quip and Innovex Downhole Solutions have agreed to merge, creating a ‘unique’ industrial platform for onshore and offshore oil and gas sector.In an all-stock transaction, Dril-Quip will combine its drilling and production equipment expertise with Innovex’ competence in well lifecycle technologies and services, creating a complementary combination with increased scale, diverse product portfolio and geographic footprint.The merger immediately improves pro forma company’s profitability and free cash flow generation including estimated cost synergies of approximately $30
Floating Production – A Growing Segment in Transition
whitepaper produced by Intelatus Global partners entitled “Floating Production and Floating Wind – increasingly close segments”.A Growing Floating Production SegmentAccording to the latest Intelatus deepwater floating production forecast, floating production activity in the oil & gas sector is set to grow at an average 25 floaters per year through 2030, and the foundations are in place for continued activity through the next decade.There will be over 260 floating production systems installed globally by the end of 2023. Over 185 new floaters will be installed by the end of 2030, of
Exail, Kongsberg Partner Up on Long Baseline (LBL) Subsea Positioning Solutions
;s Inertial Navigation System (INS) technology into their sparse-LBL or LBL operations, allowing any vehicle equipped with the Exail INS system to navigate within an array of cNODE transponders. This significantly enhances flexibility in offshore operations, with particular relevance to the oil and gas sector, where LBL positioning is widely employed, Exail said.“Through extensive engineering integration efforts, the Exail and Kongsberg Discovery teams have successfully partnered to enable smooth data exchange between their systems, unlocking cost-saving operational flexibility.” said
Balmoral Launches Scour Protection System
, sleeving it with HexDefence, fitting the transition piece and assembling the pylon and blades.“The system is also suitable for retrofitting to existing monopile structures.”Preliminary work on Balmoral HexDefence was based on existing VIV suppression products used widely by the oil and gas sector. Research considered a scaled variant to investigate scour evaluation on downstream flow and the effect of accelerated currents around the monopile. Final prototype testing was completed at a national hydrodynamic laboratory.“We believe the system can save wind farm developers around 70%
UTC 2023: Securing Global Energy
you have energy security, energy affordability and energy sustainability; and see that it's also a profitable business.”By its very nature, the subsea sector must invent, engineer and deliver products and systems that are robust and reliable, traditionally focused on the offshore oil and gas sector. The solutions that exist are not exclusively for oil and gas production, but also for methods of installation; methods to handle the high pressures; and understanding how to minimize impact on the surrounding environment. As energy evolves to include renewables, as well as budding industries like
General Oceans Scouts for Ocean Tech Acquisition Targets
companies to include in the group in order to realise the ambition to consolidate the ocean technology industry.“All our group companies are very well positioned to serve the increased demand for autonomous subsea sensor and measurement technology from offshore wind developers, the oil and gas sector as well as the defence sector. Our growth has also been fuelled by synergies across the group, especially within sales and marketing” said Atle Lohrmann, founder and CEO of General Oceans. General Oceans was established with Nortek as the foundations, and Nortek still remains the largest
Mooreast to Create "at least 100 jobs" in Aberdeen with Subsea Foundation Production Facility
“Mooreast’s intention to explore establishing significant operations in Aberdeen is warmly welcome and testament to the critical mass this region has in the skills and expertise required to support such an exciting development. “Owing to a world-class oil and gas sector, our region is home to 75% of the world’s subsea engineering capability and the highest concentration of energy supply chain companies anywhere in the UK. “We are at the very early stages of this particular process, but this potential development reflects
Norwegian Marine Seismic Player Enters Offshore Wind Market
Norwegian company PGS, best known for its seismic survey services in the offshore oil and gas sector, said Wednesday it had scored its first offshore wind contract. The company said it had secured its first ultra-high resolution offshore wind farm site characterization project, marking its debut in "a strategically important new energy market.""PGS New Energy offers solutions to the ongoing energy transition by building on the subsurface and operational expertise of PGS’ employees and using the company’s assets. PGS aims to develop New Energy into a significant
February 2024
