Offshore & Marine
Shell invests in the Vito development in the Gulf of Mexico
Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, announces the final investment decision for Vito, a deep-water development in the U.S. Gulf of Mexico with a forward-looking, break-even price estimated to be less than $35 per barrel. more
Subsea 7 makes $2B hostile bid to break up McDermott's U.S. deal
Offshore oil services firm Subsea 7 has made an unsolicited offer for U.S. rival McDermott for about $2 billion, potentially breaking up the U.S. company’s agreed deal with Chicago Bridge & Iron. more
Photo by Tami Heilemann, Interior
Interior secretary says won't lower oil, gas offshore royalty rates 'at this time'
Interior Secretary Ryan Zinke said he will not lower royalty rates for offshore oil and gas lease sales “at this time” despite a recommendation from an advisory panel to do so. more
Castleton Commodities International signs lease agreement for a marine terminal
Port Corpus Christi Commissioners approved a lease agreement with CCI Corpus Christi Infrastructure LLC (“CCI”) for approximately 55 acres of land on the north side of the Corpus Christi Ship Channel in the Inner Harbor more
Copyright: sarotepruksachat / 123RF Stock Photo
Enterprise expands marine terminal on the Houston Ship Channel
Enterprise Products Partners L.P. announced that the company has purchased a 65-acre waterfront site on the Houston Ship Channel that will serve as the next phase of expansion at the Enterprise Hydrocarbon Terminal. more
Statoil completes acquisition of U.S. Gulf of Mexico deepwater discovery
Statoil and Total have completed their acquisition of Cobalt International Energy’s 60% operated interest in the North Platte discovery in the US Gulf of Mexico for an aggregate purchase price of USD 339 million. more
BP commits to two new North Sea developments
BP today announced that it has committed to two new North Sea developments which are expected to produce 30,000 barrels gross of oil equivalent a day at peak production. more
McDermott completes phase 1 of QGEP Atlanta Early Production System
McDermott successfully completed the first phase of the deep-water Atlanta Early Production System, located offshore Brazil for independent Brazilian Exploration and Production company QGEP. more
Hope and optimism for the Gulf
While political debate wages over America's opportunity to expand offshore oil and gas production and economic projections of minimal increases in global oil prices, Gulf offshore operators and support companies are quietly getting the job done. more
TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract for LLOG Exploration in the Gulf of Mexico
TechnipFMC has been awarded an integrated Engineering, Procurement, Construction and Installation contract by LLOG Exploration for the Who Dat field in the Gulf of Mexico, including the delivery and installation of a Multiphase Pumping System. more
Over $811B will be spent on 615 upcoming oil and gas fields by 2025
Over $811B will be spent on 615 upcoming oil and gas fields between 2018 and 2025. Globally, capex into conventional oil, heavy oil, oil sands and unconventional oil projects would add up to $352bn, $44bn, $43.4bn and $30bn respectively. more
Over $114B will be spent on Oceania’s upstream projects by 2025, says GlobalData
Over $114 billion in capital expenditure will be spent over the lifetime of the top ten upcoming oil and gas upstream projects in Oceania, to produce 8,683 million barrels of oil equivalent, according to GlobalData, a leading data and analytics compa more
Port of Corpus Christi eyes expansion, continued growth
The Port of Corpus Christi Authority is the No. 1 crude oil export port, the fourth largest port in the U.S. by tonnage and is responsible for $150 billion in impact on the U.S. economy. more
Investment of $97B on top ten offshore oil projects to add over 1.6 million barrels per day by 2025, says GlobalData
Over $151.5bn in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData, a leading data and analytics company. more
Aker Solutions wins subsea order for Nova project
Aker Solutions won an order from Wintershall Norge AS to provide the subsea production system, umbilicals and services for the Nova oil and gas field offshore Norway, highlighting the value of early engagement in projects. more
Statoil becomes operator of the Martin Linge field and Garantiana discovery
Statoil has acquired Total's equity stake in and take over the operatorships of the Martin Linge Field and the Garantiana discovery on the Norwegian continental shelf. more
U.S. deepwater royalty cut would make its tax burden significantly lower than regional peers, says GlobalData
Cutting the U.S. deepwater royalty rate from 18.75 percent to 12.5 percent for new leases, as proposed by the US Royalty Policy Committee in its meeting on February 28, would significantly improve the attractiveness of the country’s fiscal regime. more
Lamprell, JV to construct maritime yard in Saudi Arabia
Lamprell provides an update on its participation in the joint venture (JV) with its partners, Saudi Aramco Oil Company, the National Shipping Company of Saudi Arabia, and Hyundai Heavy Industries Co. Ltd. more
Westwood Insight: Jubilee to Liza – lessons from a decade of exploration in the Central Atlantic
What lessons were learned from the exploration in the Central Atlantic? To find success, you need to first understand the geological factors that are needed for the success you are trying to replicate. This report identifies multiple key factors. more
Lamprell and GustomMSC join forces to develop LJ43 drilling and jackup rig design
Lamprell is pleased to announce its exclusive collaboration with GustoMSC to develop the Lamprell Jackup-43 (LJ43) jackup rig design, creating an advanced drilling rig with the highest level of safe, efficient and reliable drilling capabilities. more
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