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The total number of
semi-submersibles under construction has been reduced to five following several deliveries this year. The North Sea has played a key role in bringing the
figure down by providing work for five newbuilds in recent months. The
Deepsea Nordkapp and the Transocean Norge started maiden contracts earlier this year with Aker BP and Equinor,
respectively. Odfjell also has the
Deepsea Yantai undergoing contract
preparation in Norway ahead of a maiden fixture with Neptune, a firm
six-well (400-day) contract with options. In addition, the
West Mira is due to start a six-well
contract with Wintershall Dea in Norway, while Northern’s
West Bollsta has a firm 10-well
contract in place with Lundin, starting in April 2020.
Jersey Oil & Gas (JOG) has award Rockflow Resources and Petrofac Facilities Management contracts for subsurface
evaluation support and facilities and well support, respectively, for the
concept selection phase of the Greater Buchan area (GBA) development project,
in UK central block 21/1. JOG has worked with Rockflow and Petrofac during
the last two years and both were instrumental in supporting its
successful application in the UKCS 31
st supplementary offshore round.
independent report from Rockflow confirms recoverable oil reserves in GBA
licence P.2498, covering blocks 20/5a and 21/1a and including the Buchan oilfield, the J2 Sgiath and Buchan Andrew
oil discoveries and the Capri prospect, are estimated at 94.7 million barrels net.
Equinor on 5 October started up production, more than two months ahead of schedule and NKr40 billion ($4.4 billion) below the original PDO estimate, from phase one of the Johan Sverdrup development, in Utsira High block 16/2. Output from the field is expected to ramp up quickly as the eight pre-drilled production wells are progressively commissioned. Phase one plateau is expected to be achieved by summer 2020 and will require two to four new wells to be drilled, the first of which is expected to come on stream around the end of this year. Johan Sverdrup has estimated recoverable reserves of 2.7 billion barrels of oil equivalent and full-field output is forecast to reach 660,000 b/d of oil at peak and the breakeven price for a full-field development is less than $20 per barrel.