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

Odfjell Drilling has picked up another healthy contract for the Deepsea Stavanger harsh-environment semi-submersible, which will drill five wells for operator Aker BP after returning to Europe from its current campaign with Total off South Africa. Coming just a day after Odfejll confirmed that the Deepsea Aberdeen would be changing operator to Wintershall Dea from BP and after the recent confirmation that the Deepsea Bergen will be scrapped, the new contract means that the Norwegian driller is set to have its active fleet fully occupied through 2021. Odfjell in a statement yesterday (Tuesday) said that the new contract was agreed under its existing frame agreement with Aker BP and that the work was estimated to be worth up to $44 million, with incentives on top.

Contracts

Aker Solutions has been awarded an engineering, procurement, construction and integration contract for the installation of a high-voltage electrical boiler package on Lundin Energy’s Edvard Grieg platform, in block 16/1 in the Utsira High. The electric boilers will replace gas turbines and will be used in a programme to make the platform fully powered from shore by 2022, giving an annual CO2 emissions reduction of around 200,000 tonnes. Work starts immediately and will involve more than 50 employees at Aker Solutions’ facilities in Fornebu, Stavanger and Egersund. Lundin in its own statement said Aker would take care of engineering work and prefabrication, as well as the preparation of all underlying systems for the offshore installation work.

Companies

Premier Oil has confirmed it is in talks with a number of third parties, including Chrysaor, about a potential deal to support ongoing refinancing efforts. The company last month agreed a heads of terms for a long-term refinancing of group debt facilities with a subset of its creditors representing over 45% of its debt facilities (NSR 591/17). In a statement, the company says the proposed refinancing remains subject to a number of matters, including creditor approval, which was progressing, shareholder consent and a minimum $325 million equity raise. "Premier confirms that it has been in discussions with a number of third parties, including Chrysaor, regarding an alternative form of transaction to secure the long-term refinancing of the group’s debt facilities."

 

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