North Sea Reporter

Published by KL ENERGY PUBLISHING LTD.

North Sea Reporter is an established and respected weekly publication which provides in-depth news and analysis of the NW European offshore oil and gas industry. 

Rig Market

Maersk Drilling has reported a number of contract extensions for its North Sea jack-up fleet which has increased its rig utilisation level to 77% for this year, while the figure for 2019 remains static at 68%. Maersk also confirms around $72 million of contract value was added to its overall backlog valuation, which stood at $2.2 billion on 31 March. The jack-up Maersk Inspirer has been undergoing modification work for several months in preparation for a five-year contract with Repsol in Norway which was scheduled to start in this year’s fourth quarter. However, it would seem the work is running ahead of schedule as Maersk now reports a September start.

Construction

Wintershall Dea has installed two 300-tonne subsea templates for the Nova field development, in block 35/9, off Norway. With the templates in place, 65 km of pipelines are now ready to be installed in preparation for the tieback of Nova to the nearby Neptune Energy-operated Gjøa platform. Gjøa will also provide water injection and gas-lift to the field. Installation of the templates, built by Aker Solutions, was carried out by Subsea 7 with the Seven Arctic. Nova, which has estimated recoverable reserves of around 80 million barrels of oil equivalent, is being developed at a cost of almost €1.1 billion ($1.2 billion) and is scheduled to come on stream in 2021.

Decommissioning

AF Gruppen subsidiary AF Offshore Decom is joining forces with Heerema Marine Contractors and Decom Energy to launch new company Fairfield Decom, which will be headquartered in Aberdeen. The new venture will create a late-life operations and decommissioning operator, providing an all-encompassing solution for offshore oil and gas assets, primary in the UKCS. With an estimated £1.5 billion forecast to be spent annually over the next eight years, the UKCS is the largest of the global offshore decommissioning markets . Fairfield Decom will enable customers to benefit from a new business model, designed to reduce complexity and the number of contractual arrangements.

 

Weekly coverage includes:

  • Rig Market - contracts, dayrates and utilisation
  • Drilling – a round-up of North Sea activity  
  • Construction and engineering
  • Field development and production
  • Contract awards
  • Company news
  • Data tables of industry activity
  • Mediterranean & W. Africa briefing
  • News briefs