Oilfield service provider Sevan Marine said yesterday it expected oil companies to start launching new production vessel projects.
Several projects for floating production vessels (FPSOs) have been postponed after lower oil prices delayed demand from producers.
Sevan said in a presentation to the Norwegian Society of Financial Analysts that activity was picking up and several FPSO projects were now expected to go ahead.
Sevan Marine designs, builds and owns floating rigs for oil and gas production, including a cylinder-shaped unit that has won a design phase contract for the Goliat field, the first oil development in the Barents Sea.
The Norwegian company also has contracts for vessels with Petrobras offshore Brazil, Venture Production for the Chestnut field and Premier Oil for the Shelley field, the latter two in the UK central North Sea and both with Aberdeen-based Wood Group as dutyholder.
Meanwhile, south Atlantic oil explorer Desire Petroleum announced a share issue to raise net proceeds of about £19.9million.
It said the fundraising would be through an open offer at 70p a share, representing a discount of 21.1% to the closing price of 88.75p on Tuesday, the last business day prior to the announcement.
Desire has recently raised £40.2million after expenses through the a placing of 60million new shares.
It said the funds, plus its other cash resources, would enable it to drill at least four wells, and surplus funds could be used to test any successful wells or drill further wells.
The Diamond Offshore Drilling (UK) rig Ocean Guardian well is expected to start the first well on Desire’s programme in the North Falkland Basin in early February.
Oil prices fell sharply yesterday after US government data showed higher-than-expected supplies of refined products. US crude for January delivery slipped $1.95 to $70.67 a barrel in New York while Brent crude in London was $2.80 lower at $72.39.