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The Oil and Gas Authority (OGA) has published a report which provides a new cost estimate for offshore oil and gas decommissioning in the UK Continental Shelf (UKCS).

With a shared objective of both industry and government to reduce decommissioning costs, the OGA has set industry a target to reduce costs by at least 35%. This report has been produced to provide greater certainty of the cost of decommissioning all of the UK’s current and future offshore facilities, pipelines, development wells, suspended open water exploration wells and appraisal wells and onshore terminals.

The OGA’s approach has been to develop a probabilistic cost estimate, which takes into account the broad range of uncertainties and uses data submitted by oil and gas operators as part of its 2016 UKCS Stewardship Survey. Using this approach, the OGA has produced a decommissioning cost estimate (P50) value of £59.7 billion in 2016 prices. Taking into account the shared goal of a minimum of 35% cost reduction, this results in a target of less than £39 billion.

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CGG (UK) require a Supply Chain Coordinator

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Floatseis: Aims to obtain precise and reliable velocity model regardless of complexity of geological environment is the task which can be failed by CDP reflection towed streamer surveys only. Therefore, an alternative source of information on velocities should be used such as long-offset refracted wave data.

​The objective depth of exploration surveys usually limited by depth accessible for wells drilling and doesn’t exceed 5-7 km. Thus, refracted wave recorded offsets range up to 35-40 km will be enough to achieve desirable survey depth. To record this offset range simultaneously with towed streamer CDP reflected wave survey, a FloatSeis™ field party and an additional support vessel with an opportunity to mount onboard 20’ standard dry container are required.

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Statement Accompanying the Preliminary Results:  Petrel is an oil explorer focused on offshore Ireland and offshore Ghana with legacy interests in Iraq.

 After a fallow period there is renewed interest and activity in the Irish Atlantic – particularly the Porcupine Basin.  For the first time in recent years a well will be drilled.  It is scheduled for July 2017.  The past year has seen a number of 3D seismic acquisition programmes including one by our joint venture partner, Woodside Energy of Australia.

 The Irish Government in 2015 ran a very successful bid round for new licences.  Some 46 were applied for by 17 companies.  Petrel was awarded two licences covering 924 km² in the Porcupine Basin.

 Why has this happened at a time of relatively low oil prices?  The boom preceding the crash of 2008 had resulted in massive cost increases in offshore exploration.  Wells were costing up to $200 million each.  Rig rates were millions of dollars a day.  The economic crash and subsequent financial crisis in many overleveraged oil companies led to a shuddering halt.  Atlantic Ireland is frontier exploration.  Deep water, harsh conditions, few wells drilled with no commercial oil discovered.  The subsequent two thirds oil price collapse exacerbated the gloom.

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Julia: an epic story of deepwater non-exclusive data. Node acquisition: a superior image earlier.

Julia: nodal survey delivers an exceptional image.

Our Julia survey summarizes the entire FairfieldNodal story—our full range of technology and the value it delivers—into one spectacular image. This story consists of:

• A proven deepwater acquisition built around quality, reliability, efficiency and safety;
• Proprietary processing and imaging technology designed to get the most out of node acquisition;
• Flexible commercial terms designed around the recognition that our customer’s investment in node technology is part of a life-of-field seismic solution, one that not only provides a superior image but will enhance and extend production and reservoir optimization.

Node acquisition: a better image earlier.

OBN technology excels in the later stages of life of field by delivering high-quality, full-azimuth images for production seismic. However, operators are now beginning to realize the importance of having the best quality image from the earliest stages of field development.

To make the most of their investment, operators must acquire seismic data that brings value throughout the life of field. Whether selecting an initial well location or characterizing a productive field, OBN seismic data acquisition provides a superior image and a higher level of certainty about where to drill and how to develop reserves.

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SeaBird Exploration is pleased to announce that it has signed an agreement to provide a source vessel for an upcoming survey in South America. The project is anticipated to commence during Q3 and will have a duration of approximately 60 days. SeaBird will be using the Osprey Explorer for the project.

Osprey Explorer joined the fleet in August 2006 after being converted to 2D Long offset/source vessel in Poland. The DNV-classed vessel has a length of 81.16 meters and a beam of 15.96 meters.

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Opening of placement period for subscription commitments in respect of a proposed issuance of $375M of new six-year floating rate / 8.5% PIK second lien senior notes with warrants to eligible holders of existing senior notes.

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Mimi K. Berdal, board member and primary insider of Electromagnetic Geoservices ASA (EMGS), has used her allocated subscription rights to subscribe for 26,819 new shares in the ongoing Rights Issue in EMGS. The subscription was done through Berdal’s wholly owned company MKB Invest AS. The price per share is NOK 2.45.

Prior to the transaction, Mimi K. Berdal held 15,000 of the issued shares in EMGS.

An updated overview of the total holding of shares will be published following the issuance and allocation of the new shares.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act

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Creating opportunities with technical expertise, leading technology, and digital integration

Digital transformation, data analytics, and machine learning. What do these have to do with oil and gas?  Everything. As the oil and gas industry begins to recover from the deepest downturn in the last three decades, it now has the opportunity to embrace a new way of working—through digital enablement.

In the World Oil article “Digital Transformation: A Mandate for the Future”, Ashok Belani, executive vice president of technology at Schlumberger, discusses how digital transformation driven by domain expertise and experience, creates opportunities to improve operational efficiency; increase asset reliability; and boost throughput and optimize field recovery—improvements that benefit all industry stakeholders.

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