BP to Make Final Decision on Mad Dog 2 Project

BP has advised that a decision is 'sort of imminent' on phase two of it's Mad Dog project in the Gulf of Mexico.

Phase one has been in production off Louisiana for more than a decade, but in 2009 further discoveries were made in the southern section of the same field.

BP and its project partners have been trying to reduce project costs from a hefty $20 billion to below $10 billion.

BP's Chief Financial Officer stated during the organisations third quarter results presentation that a final investment decision was possible in the fourth quarter of this year.

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Maersk drilling rig wins contract in the North Sea

Maersk Drilling’s jack-up rig Mærsk Gallant has won a $24m contract from Maersk Oil for around 230 days of work in UK waters of the North Sea. The contract is expected to commence in February 2017 and will comprise the plugging and abandonment of the Leadon and James subsea oilfields. “Despite an extremely challenging market, I am glad to say that Maersk Drilling is still able to secure new contracts for our rigs. By focusing on operational excellence and technical problem solving, we strive to always be a trusted and value-adding partner for our customers,” Michael Reimer, Maersk Drilling’s head of global sales, said in a release. Mærsk Gallant is currently on contract with Total E&P Norge, which is scheduled for completion soon.

Worker missing after offshore drilling vessel catches fire off Miri waters

One of 39 crewmen is missing after a fire that broke out on an offshore drilling-vessel near Miri in the South China Sea

Second explosion in one year on Aces FPSO in Pakistan

A fire broke out aboard the partially scrapped ACES FPSO at a shipbreaking plot in Gadani Pakistan.

GLOBAL OFFSHORE UPDATE

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