Technology:
Miros has won three sensor contracts for the Subsea 7 Pipeline Support Ship
As part of the requirements of the 10 m water depth wave and current monitoring project, WaveSystem will be installed on one of Subsea 7's three pipeline support ships, Seven Waves, Seven Rio and Seven Sun, and will provide real-time sea situation data using Miros Cloud services. The Miros' contract followed an agreement between Subsea 7 and Petrobras on the new long-term daily-rate ship contract.
Each contract includes 3 years and after the 1-year option. The contract will take effect from the first to third quarters of 2022.
Andrew Wallace, Vice President of Miros Offshore Solutions, said, " By equipping Miros WaveSystem to the Seven Waves, Seven Rio and Seven Sun ships, we are pleased to further expand our services to Subsea 7.
This demonstrates Miros' expertise and reliability in providing accurate wave measurement through a cloud-based graphical user interface (GUI) Miros.app. Providing Subsea 7 with real-time wave and ocean current data that can be shared across departments is an important feature for staff, both on land and onboard, and is the key to ensuring safe and efficient operations at any time."Filipe Salvio, operations manager at Subsea 7, added:" Our three pipeline support ships carry cloud-enabled WaveSystem, enabling us to provide the best service for our customers without the offshore weather conditions. The system provides us with accurate waves, currents, and speeds through water data, allowing us to work safely, accurately, and efficiently at all times."Oilfield Technology (Summer 2022) Phase 2 of 2022 begins with Rystad Energy's analysis focusing on upstream industries in Southeast Asia. The remainder of this period will be devoted to progress in drilling, rig design, software and AI, corrosion and maintenance, manual lifting, flow control, etc.
Exclusive submissions are available from Vink Chemicals, Archer, Taurex Drill Bits, Vysus, EM & I, SparkCognition, TUV Rheinland Group, TGT Diagnostics, ChampionX, and Baker Hughes, as well as guest reviews from patricklong, and Opportune.
News:
The Gulf of Mexico oil spill has spread around the world
At least two other oil majors shut down drilling RIGS in the Gulf of Mexico on Friday after the Fourchon booster station leak, disrupting crude oil supplies to the Amberjack pipeline.
On Thursday, Shell stopped production of the Mars, Ursa and Olympus platforms, which produced 410,000 barrels a day. Shell did not provide an estimated time for the platform to resume production.
The Chevron (Chevron) also joined the Shell group on Friday, shutting down the Jack / St. The Malo (57000 b / d), Tahiti, and Bigfoot (75000 b / d) platforms are also connected to the Amberjack pipeline. Equinor joined Shell and Chevron on Friday by closing its Titan platform, a small platform located in the Gulf of Mexico that typically produces only 2,000 barrels of oil a day.
The Forkawa booster station leaked two barrels of oil before closing and is expected to be repaired later today. It is unclear when the platform will resume production.
Currently, all seven RIGS in the Gulf of Mexico have been closed. The United States is now struggling with high retail gasoline prices and tight crude oil and refined oil markets. The United States has used its strategic oil reserves to reach 800,000 to 1 million barrels a day to ease the problem of rising oil prices.
U. S. crude oil inventories remain 5% below the five-year average. U. S. crude oil production is currently 12.2 million b / d, 900,000 b / d below its pre-COVID-19 peak. The price of crude oil prices fell on Friday, but the reality of —— could prevent U. S. retail gasoline prices from falling. The Biden administration has specifically lobbied Opec and Saudi Arabia to increase oil production ahead of the midterm elections.
Serviece:
Schlumberger reported first-quarter profit growth as higher oil prices boosted demand for services
Top oilfield services company (Schlumberger) on Friday reported first-quarter profit growth and increased its dividend by 40% as higher oil prices drove demand for services and equipment.
Oil prices climbed to their highest level in more than a decade in the quarter as Russia's invasion of Ukraine overturned the global supply landscape. According to Baker Hughes, the number of international drilling RIGS had reached 815 units at the end of March, up 100 from last year.
Olivier Le Peuch, Schlumberger's chief executive, said in a statement: " Rising commodity prices, demand-driven activity growth and energy security have led the energy services industry to be one of the strongest prospects in the near future.”
He expects the company to see significant growth in the second half of the year and to pull out of 2022 at an EBITDA margin at least 200 basis points higher than in the fourth quarter of 2021.
Schlumberger also approved a 40% increase in its quarterly cash dividend to 17.5 cents a share.
Analysts at Tudor, Pickering, and Holt & Co said the results were in line with expectations and said the dividend increase was a "very welcome surprise."Shares rose 2.34% to $41.60 in pre-market trading.
Us West Texas Intermediate CLc1 is trading at around $102.40 a barrel, while Brent LCOc1 is trading at $106.90 a barrel, both down about 1.3%.
Total revenue rose 14% to $5.96 billion for the quarter, with international revenue up about 10%, mainly from increased drilling volumes in Latin America, Mexico, Ecuador, Argentina and Brazil. In the Europe, CIS and African divisions, revenues fell by 12% continuously due to seasonal declines in economic activity and the depreciation of the Russian ruble.
The company reported adjusted net income of $488 million, or $34 cents per share, for the three months ended March 31, compared with $299 million, or $21 cents a share, a year earlier.
Analysts had expected earnings of 33 cents a share, according to Refinitiv IBES.
Equipment:
McDermott gets another job at Qatar Energy's northern oil field
McDermott International, a global supplier of engineering and construction solutions for the energy industry, has recently awarded McDermott International a front-end Engineering Design (FEED) contract for the Northern Oil Field Southern (NFS) Offshore Pipeline and Power / FO cable project.
McDermott received contracts for the NFS Jackets, Topsides, and North Field Expansion project pipelines this year. The North Field South infrastructure is part of North Field Expansion Project's development to provide feed gas to two other LNG production lines and help increase total LNG production in Qatar from the current 77 million tons per year to 126 million tons per year.
Tareq Kawash, senior vice President of McDermott Middle East offshore Operations, said: " McDermott is one of the most experienced engineering and construction companies serving the LNG market and has delivered more than 30 LNG prefeed and FEED projects over the past decade."We look forward to continuing to work closely with the QatarEnergy to contribute to this strategic maritime development."Neil Gunnion, regional Manager and vice president of Operations in McDermott Qatar, said:" McDermott has decades of project delivery experience in Qatar, a historic strategic market, and is significantly increasing its localization efforts through Tawteen's domestic value program."McDermott has the unique advantage of combining its EPC expertise with FEED to ensure that our design is practical, safe, and commercially viable."The scope of the contract includes FEED research on developing offshore and onshore pipelines, cables and related facilities. The project will be managed by the McDermot Doha Office and supported by Chennai.
