offshore
Russian tax incentive unlock foreign investments The key factor that prompted the companies to sign the agreement was the steps taken by the Government of the Russian Federation to introduce tax incentives for offshore production, including cancelling export duties and introducing a reduced Mineral Extraction Tax rate of 5-15% depending on project complexity. The Russian Government also offered guarantees that the favourable tax regime will remain in […]
Framo Engineering is now part of Schlumberger to create a subsea process and boosting system capable of meeting the demands of the subsea environment and changing flow conditions over the life of a field. The Gullfaks Field is located in the central part of the East Shetland Basin in the Northern Norwegian North Sea and […]
Mariner is the first field to be developed from the $9.6 billion capital expenditure Mariner & Bressay project located in the UK North Sea Because the offshore ultra heavy crude oil is one of the most challenging exploration & production of the Oil&Gas sector, Statoil decided to proceed step by step. Mariner will go first and Bressay will follow one […]
Lundin Petroleum received the formal approval from the Norwegian Ministry of Petroleum and Energy to proceed with the $4.2 billion plan development and operation (PDO) of the Edvard Grieg oil field. The Edvard Grieg oil field was previously called Luno and is located in the Norwegian North Sea close to the Tellus discoveries, 180 kilometers west of Stavanger, Norway. It is the first […]
Abu Dhabi’s Zakum Development Company’s (ZADCO) mandate was to develop the Upper Zakum field on behalf of ADNOC and for the benefit of the shareholders: ADNOC 60%, ExxonMobil 28% through its local subsidiary ExxonMobil Abu Dhabi Offshore Petroleum Company Ltd. (EMAD), and Japan Oil Development Company Ltd. (Jodco) holding the remaining 12%. ExxonMobil, ADNOC and Jodco will jointly provide […]
Definition: “TLP” is the acronym of Tension Leg Platform. This name is used for offshore platform designed to have buoyancy in excess to be balanced in connecting the platform to the sea bed with long steel tubular structure called tendons. These tendons guaranty the stability of the platform in all dimensions regardless the waves and sea […]
Definition: “Subsea Electrical System” refers to all the solutions to transport and distribute electrical power from the land or an Offshore operating unit, such as platform or FPSO, to supply seabed operating units like compressors, pumps, valves, etc… Comments: Normally electricity and water do not fit too well together, so it may look strange to consider such […]
The Johan Sverdrup giant oil field is the largest oil field discovery in 2011 in the World and the fifth biggest ever in Norway. It is located 140 kM west of Stavanger and sitting by 110 M water depth and about 2000 m deep below the sea level. The Swedish Lundin and Statoil were exploring […]
