New Player Enters the Decommissioning Market
to invest in key assets and people to build a market-leading decommissioning company for the future.” Patterson and Alasdair Lock are the major shareholders. Among the other industry heavy-hitters is Paul Warwick, formerly executive director for Repsol SA, executive vice president for Talisman Energy Inc. and regional president of ConocoPhillips Inc. Warwick added, “From an operator’s perspective, Well-Safe’s offering will be highly compelling. There is no better time for a new entrant to invest in key assets and people to build a market-leading decommissioning
ESS Appoints Gillespie as Managing Director
Ecosse Subsea Systems (ESS) has appointed Mark Gillespie as managing director. Gillespie has more than 25 years’ experience in the oil and gas industry, holding senior technical, commercial and contractual management roles in Technip, CSL, GE Oil & Gas, Centrica and Talisman. More recently he was managing director of Aberdeen-based engineering and project management consultancy PDi Ltd. ESS founder Mike Wilson said the appointment strengthens the management team and introduces new skills needed to accelerate the business through the next level of growth. As Chairman, Wilson
SapuraKencana Bags Contracts of RM 1.34 bln
scheduled to commence in Q1 2017. Award of Provision of Transportation and Installation of Pipeline, Substructure and Topside for Bunga Pakma Development Project by Repsol Oil & Gas Malaysia Limited SKTLO has been awarded a contract by Repsol Oil & Gas Malaysia Limited (formerly known as Talisman Malaysia Limited) for the provision of transportation and installation of pipeline, substance and topside for Bunga Pakma Development Project. The project comprises of transportation and installation of Bunga Pakma, a wellhead riser platform which includes jacket, piles, topside, wet gas pipeline
Statoil Completes Utgard Field Transaction(UK)
of, the UK licence for the Utgard field. Through this transaction Statoil now has a 100% interest in UK Continental Shelf licence P312 which, with Norwegian Continental Shelf licence PL046, comprises the Utgard field. Statoil previously acquired stakes in P312 from First Oil in October 2015 and Talisman Sinopec in December 2015. Statoil is the operator in PL046 with a 62% holding. A final investment decision for Utgard is planned before end-2016 with production start-up in 2020.
BP Exploration Boss Leaves in Reorganization
is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits. Herbert, a BP veteran and a long-time ally of Chief Executive Bob Dudley, rejoined BP in October 2013 after several years at rival Talisman Energy. His task was to lead exploration activity to help the firm rebuild investor confidence following a deadly U.S Gulf oil spill in 2010. But as oil prices began to crash from mid-2014 and BP had to shed assets to pay off some $50 billion in U.S. liabilities for the Macondo spill, the
Barakah Adds Deepwater Capability with Ocean Installer
and heavy construction work, decommissioning, diving, and Engineering, Design and Fabrication. The sub-area for SURF is Inspection, Repair, Maintenance and Survey. The company has completed projects in Norway, UK, Gulf of Mexico, Brazil and U.S.A for many oil majors such as Shell, ExxonMobil, Talisman, Statoil, Hess, Total, BP and Saipem. Currently, it has backlog orderbook of USD350 million. While the specialist is positioned in the Top 10 subsea markets globally, OI is broadening its capabilities beyond North Sea basin into new region including Asia Pacific. Encik Nik Hamdan Daud, Deputy
DONG Hires Maersk Giant
contract for the jack-up rig Mærsk Giant with Danish energy utility DONG Energy. The firm contract covers 150 days of work on the Nini and Siri field in the Danish part of the North Sea. The estimated contract value is USD 16m. The contract is in direct continuation of the current contract with Talisman keeping Maersk Giant employed until March 2016. “We are very pleased to continue our good corporation with DONG Energy, one of our key customers in the North Sea,” says Claus V. Hemmingsen, CEO in Maersk Drilling and member of the Executive Board in the Maersk Group and continues: &ldqu
DNV GL: New RP for Integrity Management of Subsea Production Systems
original design life,” said Bente Helen Leinum, DNV GL business development leader subsea. The RP (DNV GL-RP-0002 ‘Management of Subsea Production Systems') is the result of a two year joint industry project (JIP) involving DONG Energy, FMC Technologies, GDF Suez, Norske Shell, Statoil, Talisman, Petroleum Safety Authority and Norwegian Oil and Gas. The JIP work explored the typical failures of existing subsea equipment and how the integrity of subsea equipment could be controlled. Failures in subsea production systems can for example arise from inadequate design, manufacturing and installation
Cost Blowouts on Norway's New Oil Developments
. Lundin Petroleum, Brynhild, a relatively small development, will cost 6.9 billion crowns to develop, 1.9 billion crowns more than expected last year and its total price tag is now seen 58 percent above initial projections. Lundin Petroleum controls 90 percent of the field, while Canadian company Talisman holds 10 percent. BG's Knarr field is now estimated to cost 16.2 billion crowns, 4 billion crowns more than expected last year and 36 percent more than initially. BG controls 45 percent of Knarr, together with Japan's Idemitsu which has 25 percent, Wintershall, a unit of Germany's BASF with
February 2024
