Knowledge Hub
  • NRL Industry Snapshot – Oil & Gas (July 2019)

    latest oil and gas news snapshot

    Duncan Lowe, Senior Recruitment Consultant at NRL’s Woking branch, with a round up of the latest Oil and Gas news including contract awards and international developments. Contact NRL if you’re a client looking to work with a highly experienced agency within the Oil & Gas industry or if you’re a candidate, you can request to be notified of the latest job opportunities.

    Project Awards

    Aramco award EPC to McDermott

    Aramco has recently awarded a large EPC project to McDermott International for the Marjan and Zuluf fields. The work will involve full EPCI services for relocation and fabrication of control rooms, boat landings, jacket members and control systems upgrades. Work will begin immediately from their offices in Al Khobar.

    Wood wins two new contracts from Equinor

    Norwegian giant Equinor has awarded two new projects to longstanding partners Wood. The first of which consists of FEED services for modifications to the Grane offshore facility including brownfield topsides upgrade to accommodate subsea tieback to the Grane Area Northern Development.

    The second award, also a FEED, will be for the Kollsnes MEG Upgrade. Wood’s Norwegian team will conduct the front-end design for modifications to the gas plant in Øygarden.

    Technip FMC awarded Subsea contracts for Anadarko

    Technip FMC announced successful awards for Subsea contracts on Mozambique LNG. This involves EPCI works for the subsea hardware for the Golfinho & Atum development. Technip’s new offices in Mozambique may execute the works.

    Kvaerner secure Jackdaw FEED

    Kvaerner have been selected by Shell for early phase design engineering on the wellhead platform Jackdaw. On completion Jackdaw will be an unmanned platform set on a steel substructure standing in the UK continental shelf. Final FEED study report is due December 2019.

     

    Mergers & Acquisitions

    BP sells off assets to Dragon Oil

    BP has agreed to sell its assets in the Gulf of Suez oil concessions to Dragon Oil, a subsidiary of Emirates National Oil Company. The move is said to be part of Dragon’s plans to divest over $10 Billion over the next two years in global assets.

    Exxon looks to sell Norwegian assets

    US owned giant Exxon are looking to sell their upstream assets in Norway with an estimated value which equates to over $3 Billion. If the sale goes ahead the result would mean the largest sale of the decade within Norwegian soil.

    ADNOC sign partnership deal with KKR and BlackRock

    A new partnership has been formed worth four billion dollars. KKR and BlackRock, two renowned investment organisations have agreed a deal with ADNOC for a 40% collective interest in 18 oil pipelines covering over 700km with a capacity of 13,000 mbblpd. The newly formed entity called ADNOC Oil Pipelines reflects the merger.

     

    Other News

    Dolphin Drilling goes Bankrupt

    Norwegian owned Dolphin Drilling has filed for bankruptcy in a plan to shed debt and transfer control to creditors. This has followed the dismissal of the entire management team in May and reports that the company’s lenders had reached an agreement for reorganisation and recapitalisation of the business.

     

     

    Interested in working in Oil & Gas or are you a client looking to work with a highly experienced agency within the Oil & Gas industry? Contact our specialist branches: Woking & Falkirk.