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Re­view the lat­est ac­tiv­ity in the O& G sec­tor.

Op­er­a­tional be­yond 2035, North Sea

To­wards the end of 2015, Amec Foster Wheeler won three con­tracts to pro­vide ser­vices to the Glen Lyon Float­ing Pro­duc­tion, Stor­age and Of­fload­ing ves­sel ( FPSO) lo­cated 175km west of the Shet­land Isles, UK for BP. In to­tal, the three deals are worth £ 31.5 mil­lion and will cre­ate 100 on­shore and 50 off­shore jobs. One of the deals is a hook up and com­mis­sion­ing con­tract, worth £ 27 mil­lion, which will run through to June 2017. For that, Amec Foster Wheeler will hook up the new Glen Lyon FPSO to the Schiehal­lion and Loyal fields as part of the BP’s Quad 204 re­de­vel­op­ment, en­abling pro­duc­tion be­yond 2035. The com­pany also won a con­tract worth ap­prox­i­mately £ 8 mil­lion from Marathon Oil. This is a five- year, multi- dis­ci­pline en­gi­neer­ing deal, that kicked off in Oc­to­ber 2015, for the Brae Com­plex in the North Sea. It cov­ers sub­sea and top­sides, in­clud­ing on­shore op­er­a­tions sup­port, projects and mod­i­fi­ca­tions en­gi­neer­ing, as well as tech­ni­cal con­sul­tancy.

Con­sult­ing in the down­turn

On the topic of con­sul­tancy, es­pe­cially re­lat­ing to an­a­lyt­i­cal in­tel­li­gence, ESIA ( En­ergy Soft­ware In­tel­li­gence An­a­lyt­ics) has ac­quired Dou­glas West­wood Lim­ited ( DWL), which pro­vides ad­vice for the en­ergy sec­tor. Formed in Jan­uary 2015, ESIA is as­sem­bling a port­fo­lio of busi­nesses that de­liver data, re­search, and in­sight for the global en­ergy ex­plo­ration and pro­duc­tion ( E& P) mar­kets and ac­com­pa­ny­ing sup­port ser­vices. Op­er­at­ing from Hous­ton, Sin­ga­pore, and the UK, DWL has global cov­er­age in the oil­field ser­vices sec­tor boast­ing in ex­cess of 1,000 projects un­der its belt, as well as ad­vis­ing on trans­ac­tions worth more than US$ 30 bil­lion. By in­cor­po­rat­ing DWL’s con­sult­ing and an­a­lyt­i­cal ser­vices ESIA ex­tends its reach fur­ther into the oil­field ser­vices mar­ket.

2074 ac­quired wells to be up­graded

Fol­low­ing ap­proval by NuTech En­ergy Re­sources, Inc.’ s Board of Di­rec­tors, the com­pany is pro­ceed­ing to fi­nal­ize the ac­qui­si­tion of Emer­ald Op­er­at­ing and Rocky Moun­tain Ex­plo­ration Wells, com­pris­ing 74 ex­ist­ing wells. The com­pany has also taken own­er­ship of 2,000 wells in the ter­ri­tory, and is in the fi­nal stages of ob­tain­ing reg­u­la­tory ap­proval, which have been shut with equip­ment idling for years. The com­pany said in a state­ment that once any nec­es­sary pipe­line re­pairs are com­pleted, the prop­er­ties have the abil­ity to pro­duce 100 MCF per day per well bring­ing a po­ten­tial profit mar­gin, over a five- year av­er­age base­line, in the range of US$ 180,000,000. Mean­while, out at sea, Ocean In­staller will be im­ple­ment­ing field de­vel­op­ment work in Nige­ria for Fo­lawiyo Aje Ser­vices Lim­ited ( FASL). The com­pany will per­form the off­shore con­struc­tion of the Aje Ph1 pro­ject off the coast of Nige­ria, for which FASL func­tions as ded­i­cated tech­ni­cal ad­vi­sor to the field op­er­a­tor, Yinka Fo­lawiyo Pe­tro­leum. Off­shore op­er­a­tions will be per­formed by the con­struc­tion sup­port ves­sel, Nor­mand Vi­sion com­menc­ing now ( Q1 2016). Fast track­ing the pro­ject, en­gi­neer­ing will be looked af­ter by Ocean In­staller’s of­fices in Sta­vanger, Aberdeen, and Hous­ton. The com­pany was also awarded an off­shore wind con­tract with Nord­deutsche Seek­a­bel­w­erke GmbH.

A to­tal of 26 com­pa­nies have sub­mit­ted ap­pli­ca­tions to the Min­istry of Pe­tro­leum and En­ergy for new ex­plo­ration acreage in the 23rd li­cens­ing round on the Nor­we­gian Con­ti­nen­tal Shelf.

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