OffshoreNews

EIA: U.S. Offshore Oil Production On Track for New Records

By The Maritime Executive 2019-10-16 18:40:02

Crude oil production in the U.S Gulf of Mexico hit 1.8 million bpd in 2018, setting a new annual record. The U.S. Energy Information Administration (EIA) predicts that the industry will set new production records in 2019, despite the temporary shut-ins related to Hurricane Barry in July. Based on EIA’s latest forecasting, annual crude oil production in the GOM will increase incrementally to 1.9 million bpd this year and 2.0 million bpd in 2020, setting further new records. However, with...

One Injured in Fire on Tern Alpha Platform

By The Maritime Executive 2019-10-15 15:56:04

On Monday, a fire broke out at TAQA's Tern Alpha platform, located about 90 nm to the northeast of the Shetland Islands in the UK North Sea. One worker was injured and medevaced by helicopter to Lerwick for treatment. According to local media, a small fire started on Tern Alpha on Monday afternoon. The platform shut down temporarily and the fire was quickly extinguished. One worker suffered an arm injury due to the fire, prompting a medevac request to the...

IMO Allows Trans-Boundary Carbon Capture and Storage

By The Maritime Executive 2019-10-14 20:21:23

A new IMO resolution will allow projects for subsea CO2 sequestration to be shared across national boundaries Parties to the London Protocol agreed last week that trans-boundary export of carbon dioxide (CO2) for the purpose of carbon capture and storage (CCS or sequestration) can now be provisionally allowed under certain circumstances. Since 2006, the London Protocol has provided the basis in international environmental law for Governments to allow CCS under the seabed when it is safe to do so, and...

Santos Acquires ConocoPhillips’ Northern Australia Interests

By The Maritime Executive 2019-10-14 18:53:47

Santos has entered into an agreement for the acquisition of ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa and Poseidon. The deal is worth $1.39 billion plus a $75 million contingent payment subject to FID on Barossa, and it reduces Santos' forecast 2020 free cash flow breakeven oil price by $4 per barrel. Santos says the acquisition delivers operatorship and control of strategic LNG infrastructure with growth potential, and it advances Santos’ goal of taking Barossa...

Unions Demand that Bourbon Rhode Search Continues

By The Maritime Executive 2019-10-14 17:37:56

The International Transport Workers’ Federation (ITF) has joined Ukrainian and Croatian maritime unions in demanding that the search for seven seafarers continue in the mid-Atlantic following the sinking of the Bourbon Rhode. The Luxembourg-flagged Bourbon Rhode – crewed by 14 Ukrainian, Russian, South African, Filipino and Croatian seafarers – sank on September 26 after it was hit by the category 4 hurricane Lorenzo. At the time of the incident, the vessel was in transit around 1,200 nautical miles off the...

Equinor Plans to Build Floating Wind Farm to Power Oil Platforms

By The Maritime Executive 2019-10-11 19:26:48

Norwegian oil and gas company Equinor announced Friday that it has made a final investment decision on a floating wind farm to power two North Sea offshore platforms. The project will make the Snorre and Gullfaks installations the first oil production platforms (and among the only facilities of any kind) ever powered by a floating wind farm. The project consists of 11 eight-megawatt wind turbines based on the Hywind floating tower system developed by Equinor. The farm's capacity will be...

Bourbon Receives Takeover Offer

By The Maritime Executive 2019-10-09 15:20:50

The court overseeing number-two offshore operator Bourbon's restructuring proceedings has received a takeover offer for the company's assets and activities, Bourbon announced Wednesday. With its finances battered by the long-running downturn in the offshore sector, Bourbon Corporation entered a court-administered restructuring process (redressement judiciaire) on August 7. Its court-appointed administrator has received an offer from a firm owned by a consortium of French banks. While the Marseilles Commercial Court contemplates the merits of the offer, Bourbon has asked Euronext to...

Bourbon Rhode Searchers Report Potential Distress Signal

By The Maritime Executive 2019-10-08 19:14:53

The search for Bourbon Rhode survivors has taken a new turn following reports by two seafarers onboard the Alp Striker of signals that they interpreted as potentially emanating from a distress flare. During the early hours of Monday morning, the Alp Striker immediately set a course for the area, in coordination with the CROSS Antilles-Guyane. The CROSS called on three additional commercial vessels to change course and head to the area as well. A U.S. Hercules C-130 aircraft also assisted. ...

WoodMac Anticipates ExxonMobil’s Divestment Targets in Asia Pacific

By The Maritime Executive 2019-10-07 19:46:26

Wood Mackenzie has identified the five most likely disposal candidates after ExxonMobil signalled the start of its Asia Pacific divestment program. Together, these opportunities are worth $5 billion and could contribute a third of the Supermajor's global divestment target. Having set its ambition to divest $15 billion worth of assets by 2021, the company has confirmed in recent weeks, it will sell stakes in Peninsular Malaysia and the Bass Strait JV in Australia. “ExxonMobil holds several mature assets in Australia,...

Petition Started to Continue Bourbon Rhode Search

By The Maritime Executive 2019-10-07 17:36:52

A petition and GoGetFunding page have been set up by the friends and family of the missing Bourbon Rhode Captain. They are calling for more effort in finding the seven seafarers still missing. The Luxembourg-flag tug supply vessel was in transit 1,200 nautical miles off Martinique Island and 60 nautical miles South-South East from the eye of category 4 hurricane Lorenzo when she began taking on water at the stern in the adverse weather conditions. That was September 26, and Bourbon...