MOL Invests in Self-Elevating Platform Vessel Operator
Mitsui O.S.K. Lines, Ltd. today announced a plan to acquire a 5% share in Seajacks International Limited (Seajacks) Group, which owns and operates five Self-Elevating Platform vessels(*1), from Marubeni Corporation. This is a new offshore business for MOL, following FPSO(*2), FSRU (*3), shuttle tanker (*4), and subsea support vessel (*5). It is also the first step to move into the renewable energy business field through involvement in installation of offshore wind power generation systems, which is expanding in Europe and other areas around the world.
Higher profits for Transocean
Transocean Ltd. reported their Fourth Quarter and Full Year 2016 Results. * Operating and maintenance expense was $314 million, including $30 million in favorable items associated with litigation matters. * Adjusted net income was $239 million, $0.63 per diluted share, excluding $13 million of net unfavorable items. * Contract backlog was $11.3 billion as of the February 2017 Fleet Status Report. ZUG, SWITZERLAND-February 23, 2017-Transocean Ltd.
iSURVEY Bags rig positioning, surveying contract with Shell
iSURVEY has secured a non exclusive call-off contract with Shell UK Ltd, Shell NAM, Norske Shell and Shell E&P Ireland for the provision of rig positioning and surveying services. With an effective date of 1 January 2017, the three year contract, which has the option of up to two, one year extensions, will see iSURVEY provide non exclusive rig and surface positioning services, subsurface positioning and dimensional control and platform surveys to Shell’s mobile offshore drilling units.
VBMS awarded EnBW Hohe See cabling contract
Royal Boskalis Westminster N.V. (Boskalis) announces that its subsidiary VBMS has been awarded an inter-array cabling contract with a value of approximately EUR 80 million by EnBW Hohe See GmbH & Co.KG for the 500 MW EnBW Hohe See Offshore Wind Farm. The contract includes the supply, installation and burial as well as termination and testing of seventy nine (79) 33kV inter-array cables. The project execution will commence in 2017 with cable installation activities scheduled for 2018 and 2019.
Vestdavit mission accomplished on Ramform safety
Seatrials are underway in Japan involving Ramform Hyperion, the last of four ships built to the seismic sector’s all-time highest specifications, completing a project that shows the way distinctive design also demands innovation from the equipment keeping ships safely in service. Reckoned to be the widest monohulls at the waterline ever built, the Petroleum Geo-Services (PGS) vessels need a unique Vestdavit dual point boat handling solution to lift and lower tender boats in wave heights up to sea state 6.
BOEM : Potential Cook Inlet Lease Sale
The Bureau of Ocean Energy Management (BOEM) today announced it plans to offer approximately 1.09 million acres in Cook Inlet off Alaska’s southcentral coast in a proposed lease sale this year. Cook Inlet Oil & Gas Lease Sale 244, scheduled to take place in June 2017, would offer 224 blocks toward the northern part of the Cook Inlet Planning Area for leasing. The blocks stretch roughly from Kalgin Island in the north to Augustine Island in the south.
ExxonMobil inks patent agreement with Pason Systems
ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimization. Fast Drill combines high-end modeling of drilling physics with structured well planning and design to identify limiters and maximize performance.
Yaskawa Invests In Large-capacity Kinetic Energy Storage Company, Teraloop
Yaskawa Electric Corporation has completed a strategic investment in Helsinki-based Teraloop, a startup grid- and utility-scale kinetic energy storage company. This equity investment aims to help Teraloop accelerate the steps needed to bring its patent-pending storage solution to the market within the next two years. The financing will allow the prototype to be finalized for a complete simulation in commercial working conditions. This latest equity…
L&T wins $165 mln contract from refiner Indian Oil Corp
A unit of Indian engineering conglomerate Larsen & Toubro has won an onshore engineering, procurement and construction (EPC) contract from Indian Oil Corp Ltd, the country's largest refiner, worth 11 billion rupees ($165 million), it said in a statement on Saturday. L&T Hydrocarbon Engineering won the contract for setting up a 0.74 million metric tonne per annum fluidised cracking unit, including a liquefied petroleum gas treatment facility at IOCL's Bongaigaon refinery in the eastern Indian state of Assam.
Bourbon wins Pipelay EPCI Contract for Hylia Project
Bourbon announced its first pipelay contract awarded by Total Gabon for the engineering, procurement, construction and installation of 25 km of 6” rigid pipeline as part of the Hylia Water Injection Project using Zap-Lok technology. For the execution of this contract, BOURBON is subcontracting key suppliers, mainly Cortez Subsea, for pipelay equipment and Wood Group for the pipeline design and pipelay engineering. Operations are scheduled to start in Q2 2017 offshore Gabon with an MPSV from the Bourbon Evolution 800 series.
Genoil Signs MOU for LSFO Collaboration with Bomin
Genoil Inc, (GNOLF) announced the signing of a Memorandum of Understanding (MOU) with the Bomin Group. The MOU sees the two companies confirm their mutual intent to provide a framework, which will aim to develop a co-operation agreement to supply the market with compliant low sulphur products, utilising Genoil’s technology, in conjunction with Bomin’s global physical supply and storage infrastructure. Genoil’s proprietary technology, the Hydroconversion Upgrader (GHU)…
SPE Lecturer Series Agenda, Speakers Finalized
The Society of Petroleum Engineers (SPE) Aberdeen Section has secured three international oil and gas industry experts to give a series of presentations over the next three months. Each year, as part of its mission to collect, disseminate and exchange technical knowledge, the Society of Petroleum Engineers (SPE) appoints a group of professionals who have been nominated by their peers to share knowledge and expertise through visits to local SPE Sections around the world. These global industry experts are known as SPE Distinguished Lecturers.
BP Awards Gulf of Mexico Work to Subsea 7
Subsea 7 said it was awarded a contract by BP as part of the deepwater Mad Dog 2 development, located approximately 190 miles south of New Orleans. The contract scope covers engineering, procurement, construction and installation (EPCI) of the subsea umbilicals, risers and flowlines (SURF) and associated subsea architecture. Subsea 7 has worked closely with BP to deliver a lump sum integrated solution from design through to supply, installation and commissioning.
$1.2 mln Funding to Encourage O&G Innovation
The Industry Technology Facilitator (ITF) and the Oil & Gas Innovation Center (OGIC) have joined forces to fund and support the development of innovations which could reduce costs, raise production efficiency, and improve safety and environmental performance. OGIC has made $1.2 million available to support companies with projects that require research and development to be undertaken at a Scottish university. OGIC can fund up to 70% of these costs…
As Trump Targets Energy Rules, Oil Companies Downplay their Impact
President Donald Trump’s White House has said his plans to slash environmental regulations will trigger a new energy boom and help the United States drill its way to independence from foreign oil. But the top U.S. oil and gas companies have been telling their shareholders that regulations have little impact on their business, according to a Reuters review of U.S. securities filings from the top producers. In annual reports to the U.S. Securities and Exchange Commission, 13 of the 15 biggest U.S.
The World's First Offshore Wind Farm is Retiring
DONG Energy has decided to retire “Vindeby”, the world’s first offshore wind farm, which 25 years ago marked the birth of the offshore wind industry. Today, offshore wind is a recognised and proven renewable energy technology, and the offshore wind turbines harvest the energy from the wind, transforming it into green power for millions of households. But it is actually only some 25 years ago that the world's first offshore wind farm was constructed close to shore in the low waters off Vindeby near Lolland in the south east of Denmark.
Nordex CEO Resigns Following Drastic Outlook Cut
Nordex Chief Executive Lars Bondo Krogsgaard will step down at the end of March, taking responsibility for a loss of confidence among investors after the wind turbine maker slashed its financial targets last month. Weaker expectations for business in Brazil, India and South Africa caused Nordex to significantly lower its sales and profit outlook for 2018. It said in February it now expected revenues of 3.4 to 3.6 billion euros ($3.7-3.9 billion), down from previous guidance for 4.2 to 4.5 billion.
IEA Finds CO2 Emissions Flat for Third Straight Year
Global energy-related carbon dioxide emissions were flat for a third straight year in 2016 even as the global economy grew, according to the International Energy Agency, signaling a continuing decoupling of emissions and economic activity. This was the result of growing renewable power generation, switches from coal to natural gas, improvements in energy efficiency, as well as structural changes in the global economy. Global emissions from the energy sector stood at 32.1 gigatonnes last year…
Wärtsilä to Optimize Performance for Songa Offshore Drill Rigs
The technology group Wärtsilä has signed a five-year technical management and services agreement with Songa Offshore for four Cat-D type semi-submersible drilling rigs operating in the North Sea. Through the partnership with Wärtsilä, Songa Offshore ensures optimal performance and maximum availability of the Wärtsilä engines and thrusters on board the drilling rigs, which operate in extremely harsh conditions. This is possible with real-time knowledge of the actual condition of the equipment, provided by Wärtsilä's digital offering.
Singapore’s shipyards are looking to recent investments in capacity, design and newly acquired technology to combat order declines after a decades-long offshore buildup. Sembcorp and peer Keppel are making the most of partnerships in FLNG and showing signs they’ll be okay through the downturn, helped by their gas-hungry Australasian backyard and renewed ties with old charterer parties and suppliers. With drilling contractors unable to pay for the offshore rigs they’ve ordered…
Shell Divests Oil Sands Interests in Canada
Royal Dutch Shell plc has announced the signing of two agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources (“Shell”) — which are detailed in this announcement — that will see Shell sell all of its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60 percent to 10 percent. Shell will remain as operator of AOSP’s Scotford upgrader and Quest carbon capture and storage (CCS) project.
Britain to Review Tax to Speed up North Sea O&G Deals
Britain will look at ways of making it easier to sell North Sea oil and gas fields by changing tax rules in order to keep them producing for longer, the finance ministry said. The move, which is due to be announced in finance minister Philip Hammond's budget on Wednesday, follows a call by the industry's oil lobby group for a change to decommissioning tax rules that have prevented deals in the North Sea. Owners of oil and gas assets get tax relief on the future costs of dismantling them…
Proserv Seals Subsea Contract with Premier Oil
Energy services company Proserv said it has been awarded a multimillion dollar contract with Premier Oil for subsea work in Asia Pacific. Proserv will supply a subsea control system and associated equipment for the BIGP (Bison, Iguana & Gajah Puteri) development project, located in the Natuna Sea, Indonesia. The scope of supply is a three well subsea control system, which includes the company’s award winning Artemis 2G subsea electronics module, tied back to two platforms, Naga and Pelikan, in approximately 90m water depth.
Russia-China Fund, Abu Dhabi's Mubadala Eyeing Stake in Eurasia Drilling
The Russia-China Investment Fund (RCIF) and Mubadala, Abu Dhabi's state fund, are considering buying a minority stake in Eurasia Drilling Company, Russia's largest drilling company by metres drilled, three sources close to the talks told Reuters. In 2015, Eurasia Drilling Company (EDC) delisted its shares from the London Stock Exchange after a deal for the world's leading oilfield services provider Schlumberger NV to buy a stake in it collapsed.
Oil Spill Research to Measure Dispersant Effectiveness
Highlighting research projects funded by the Bureau of Safety and Environmental Enforcement (BSEE), engineer Suzanne Chang discussed 13 recently completed and ongoing studies Tuesday at the Seventh Technology Workshop for Oil Spill Response. The ultimate goal of the research is to develop a way to measure the effectiveness of subsea dispersant applications. Chang cautioned that there are many variables that have to be considered when properly calibrating such techniques…
What does Trump's Presidency Mean for the Power Industry?
Donald Trump has promised numerous changes, many of which impact the sectors that NES Global Talent operates in. Although he has only been in office for 39 days at the time of writing, he has already made numerous policy adjustments. In a recent NES survey, 63% of oil and gas professionals felt Trump’s government will have a positive effect on the oil and gas industry and 64% from the U.S. felt more confident about their job prospects as result, but we also wanted to get an expert opinion on how Trump's government may effect the power market.
Exxon CEO Sees Potential in Canadian Oil Sands
Exxon Mobil Corp still sees potential in its western Canadian operations despite a recent write-down in the value of nearly all its oil sands reserves there, Chief Executive Officer Darren Woods said on Wednesday. "The way we're managing that (Canadian oil sands) business is looking at the opportunity to drive efficiency, by bringing technology to bear, to bring costs that much lower and be successful in a low-price environment," Woods said on the sidelines of the company's analyst day in New York.
New Offshore Installation Vessel for GeoSea
COSCO will build a new offshore installation vessel in China for DEME subsidiary GeoSea, to be used for offshore wind farm construction, oil and gas industry services and decommissioning work. The vessel, Orion, is due to be delivered in 2019. With a total installed capacity of 44,180kW Orion will be equipped with a high-tech crane with lifting capacity of 3,000t at more than 50m. The loads can be lifted to an unrivalled height of more than 170m. Deck space has been maximized to provide exceptionally high transport and load capacity.
U.S. Military Marches on Green Energy
President Donald Trump and his top advisors have often scoffed at government support of green energy. But the largest U.S. government agency - the Department of Defense - plans to forge ahead under the new administration with a decade-long effort to convert its fuel-hungry operations to renewable power, senior military officials told Reuters. The reasons have nothing to do with the white-hot debate over climate change. In combat zones, green energy saves lives by…
North Sea Producers Benefit as Leasing Costs Plummet
Oil and gas operators in the North Sea will benefit this year from another 10 percent drop in leasing costs for equipment such as drilling rigs and subsea kit as oversupply continues to drag down rates, analysts at consultancy Wood Mackenzie said. The downturn in the oil market has crippled drilling activity in the North Sea, where costs are some of the highest in the world due to the basin's maturity. As a result, suppliers of oil and gas equipment have been forced to significantly lower the prices they charge.
Vitol Launches JV for UK Battery Project
Vitol owned VPI Immingham and renewable investment fund Low Carbon Ltd have launched a joint venture to invest up to 250 million pounds ($311 million) in energy storage and distributed power generation in Britain, the companies said on Tuesday. The VLC Energy joint venture will initially build two battery storage plants, one in Cleator, Cumbria and one in Glassenbury, Kent, to be connected to Britain's electricity grid by the end of the year. The two plants have already won contracts with Britain's National Grid to provide super fast balancing services…
Partners to Develop Western Australia LNG Supply
Woodside and GE have signed an agreement to work together to support the use of LNG as a fuel in Western Australia. The agreement will provide customers with the option of seamless access to reliable LNG fuel supply and gas-fuelled transport and power generation solutions. Woodside CEO Peter Coleman said that this type of collaboration was key to development of the LNG fuel market in Western Australia. “The agreement between our companies will harness the combined experience and offerings of Woodside and GE…
Total in Talks to Buy Iranian LNG Project
Total is in talks to buy a multi-billion dollar stake in Iran's partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major -- the first of its peers to strike deals in Iran after sanctions -- seeks entry into Iran LNG at a discount to the pre-sanctions price in exchange for reviving the stalled project, two sources with knowledge of the matter said. A third source confirmed Total was in the running for a stake, alongside several other oil majors, but any deal was still some way off.
Pipeline Fight Moves from Dakotas to Louisiana
When Hope Rosinski's father gave her a six-acre plot in Louisiana more than a decade ago, she was surprised to find oil and gas pipelines crisscrossing the property. Pipeline companies later secured her permission for two more lines, one of which has since caused flooding and consistently leaves her land saturated. Now she's had enough. Rosinski is fighting the latest request for a right-of-way, this time from Energy Transfer Partners - the company behind the controversial Dakota Access Pipeline.
HHI's FSRU Unit equipped by GTT
GTT has received an order from Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. This order includes a firm vessel and one option. The FSRU of 170,000 m3 will be built at Hyundai's shipyard, in Ulsan (South Korea), on behalf of a European shipowner. The vessel will also be equipped with a Dual Fuel Diesel Engine motorization like standard LNG Carrier (LNGC). Delivery is scheduled in March 2019.
CGG Wins 6-year Contract for Brunei Shell Petroleum
CGG has announced that it has been awarded a contract by Brunei Shell Petroleum to operate a dedicated processing center (DPC) at its Seria office in Brunei Darussalam. The contract will run for a period of six years, from January 1, 2017 to December 31, 2022. Under the terms of the contract, CGG will deliver the full scope of processing services for 2D, 3D and 4D seismic data acquired onshore and offshore Brunei, ranging from field data processing to advanced pre-stack depth imaging, using advanced processing and subsurface imaging technology.
Singapore Carbon Tax Would Hit Refiners, Help Renewables
Proposed carbon tax would deal blow to refineries; Singapore is main regional oil trading hub. Singapore's proposed plan to tax greenhouse gas emissions would probably hit oil refiners hard, ramping up costs in an industry that has been central to the city-state's rapid development over the last half-century. Monday's announcement that a carbon tax on direct emitters is to be introduced from 2019 shows that Singapore, Asia's main oil trading hub, could be moving towards a longer-term future dominated by cleaner technology and resources.
Saudi Arabia Debating Shape of Aramco Ahead of IPO
Saudi Arabia is considering two options for the shape of Saudi Aramco when it sells shares in the national oil giant next year: a global industrial conglomerate, and a specialised international oil company, industry and banking sources said. The listing of Aramco <IPO-ARMO.SE>, expected to be the world's biggest initial public offer and raise tens of billions of dollars, is a centrepiece of the government's ambitious plan - known as Vision 2030 - to diversify the economy beyond oil.
Ocean Mapping: Fugro Partner with Shell on X-Prize
Fugro will partner with the Shell Ocean Discovery XPRIZE to support first round testing of the global, three-year competition, which incentivizes development of rapid, unmanned and high resolution ocean mapping technologies. Fugro’s role is to provide high resolution deepwater baseline bathymetry data over a 500 sq. km competition area. The company has recently collected more than 1 million sq. km of high resolution bathymetry data per year globally, predominantly in water depths greater than 750 meters.
Experts Assess Energy Future at 7th IEA-IEF-OPEC Symposium
The International Energy Forum (IEF), the International Energy Agency (IEA), and the Organization of the Petroleum Exporting Countries (OPEC) convened the Seventh IEA-IEF-OPEC Symposium on Energy Outlooks that successfully concluded its sessions debating short-, medium, and long-term energy outlooks and transport sector dynamics at the IEF Headquarters in Riyadh on 15 February 2017. The Secretary General of the International Energy Forum, Dr Sun Xiansheng…
Genoil Appoints Middle East VP
Genoil Inc. (GNOLF), the publicly traded clean technology engineering company for the petroleum industry, announced the appointment of Raushan Telyashev as Vice President of Genoil Middle East. Raushan Telyashev has a wealth of experience in the oil and gas industry. Prior to joining Genoil, Mr. Telyashev worked at Lukoil where he was Deputy Head of the Department of Construction, in charge of the execution of projects, and General Director of their Design and Research Institute.
Iran Berates Total for Gas Field Delays
Iran's oil minister has criticised French oil company Total for its decision to delay signing a contract to develop a gas field in southern Iran, saying that the reasons given by Total's chief executive were "unacceptable" to Tehran. Total was the first Western energy company to sign a major deal with Tehran since the lifting of international sanctions with its South Pars 11 project in the Gulf to develop a part of the world's largest gas field that Iran shares with Qatar.
Ingeteam Takes Wind Converter Supplier Top Spot
Ingeteam, an independent global supplier of electrical conversion equipment, has announced that it achieved a new record year for the deliveries of its wind power converters worldwide. With nearly 5 GW of new capacity added in 2016 alone, a total of 36,414 MW of wind turbines have been equipped with Ingeteam’s technology since 1995, making the Spanish company the world’s number one supplier of wind power converters. Ingeteam’s record performance was particularly impressive in large emerging wind markets, despite intense competition.
Orbital Gas wins BioMethane contract
Orbital Gas Systems, (Orbital), the leader in innovative gas measurement solutions, has been awarded a contract valued in excess of $750,000 by a major European industrial company operating bio-methane-to-grid plants throughout Europe. Under the contract, Orbital will provision two BioMethane units, the company’s bio-methane-to-grid system, for delivery to the client in 2017. The award follows an extensive audit and assessment of Orbital’s technical…
Statoil Awards ERRV Contracts
Statoil awards Simon Møkster Shipping AS contracts for three emergency response and rescue vessels (ERRV), and Havila Shipping ASA for one ERRV. The contacts have a total value, included options, of NOK 2.7 billion. The vessels will be part of Statoil’s area-wide emergency response on the Norwegian continental shelf (NCS). The emergency response vessels play an important role in addressing government authorities’ and the company’s own requirements for rescue, hospital, fire-fighting, emergency towing and oil spill preparedness.
Electricity from Dudgeon Offshore Wind Farm Starts
Up to 6,000 homes in UK are now receiving electricity from the first producing wind turbine on Dudgeon Offshore Wind Farm. When fully operational later in 2017 the offshore wind farm will provide electricity to over 400,000 homes. After a successful installation of the first wind turbine in early January, operator Statoil and partners Masdar and Statkraft were able to set the first turbine in production on the 7 February delivering electricity to UK National Grid. "This is a significant milestone for one of the largest offshore wind farms in Europe.
Global Study into use of Wind, Solar Power on Ships
In co-operation with several shipping companies and technology partners, Eco Marine Power (EMP)has begun a detailed study focused on the practical applications of its patented EnergySail and Aquarius MRE technologies. The study will cover the engineering aspects of installing an EnergySail or Aquarius MRE based solution on a variety of ships and the expected Fuel Oil Consumption (FOC) and CO2 savings that can be achieved in an operational environment. Energy storage options will also be studied including the possible use of fuel cells.
Siemens, Voest and Verbund to Build Largest Green Hydrogen Site
Siemens, steel maker Voestalpine and hydropower firm Verbund are planning to build a cutting-edge plant to make green hydrogen more suitable for industrial use, the companies said on Tuesday. Utilities and industrial firms are under increasing pressure to reduce carbon dioxide (CO2) emissions and they hope to use excess power generated by renewable sources such as wind or solar to create hydrogen from water with electrolysis. The hydrogen can then be stored for reconversion into power or for direct industrial use.
Bernhard Schulte, Babcock Team-up to develop GSV Vessel
Bernhard Schulte Shipmanagement (BSM), a leading global maritime services company, and Babcock International Group, the UK’s leading engineering support services company, are collaborating to develop a ground-breaking Gas Supply Vessel (GSV). The 7,500m³ vessel, which will be used for the LNG fuelling of ships, including ferries, containers, cruise vessels and other shore-based gas consumers in the Baltic Sea, is the first vessel of its kind to utilise Babcock’s market leading FGSV0 technology.
BCCK Holding, SCF Partners join forces
BCCK Holding Company (BCCK) and SCF Partners (SCF) have entered into a strategic partnership whereby SCF will be providing growth capital for expansion opportunities for BCCK. Clark Butts, founder of BCCK, will continue as chief executive officer and as an owner of the business;and Greg Hall, executive vice president; Ben K. Friedman, chief financial officer; Matt Gillis, chief operating officer; and Chase Johnson,vice president ofmanufacturing,will continue to serve in management capacities and as new owners.
Keppel to Deliver First FPSO of 2017
Keppel Offshore & Marine subsidiary Keppel Shipyard Ltd is on track to deliver a floating production storage and offloading (FPSO) vessel to Yinson Production (West Africa) Pte Ltd (Yinson), a subsidiary of Yinson Holdings Berhad, marking the first FPSO delivery of 2017. The spread-moored FPSO unit was named John Agyekum Kufuor during a naming ceremony held at Keppel Shipyard this morning. It will be chartered by ENI Ghana Exploration & Production…
MHI to buy 5 pct of Areva's NewCo for 250 mln euros
Mitsubishi Heavy Industries, Ltd. (MHI) has reached a general agreement on the terms for making a minority stake investment in a new company (NewCo) to be established by the AREVA Group of France, all-round specialists in nuclear energy. The move follows a formal proposal by MHI to AREVA and ongoing discussions on matters including the investment terms and ownership ratios. Ultimately it has been agreed that MHI will acquire a 5 percent equity stake at an outlay of approximately 250 million euros.
Saudi Aramco Examines Berri Oilfield Oil, Gas Expansion
State oil giant Saudi Aramco is considering expanding its oil and gas production from the Berri offshore oilfield, industry sources told Reuters. Aramco would over time add 250,000 barrels per day of crude oil from Berri, possibly by building drilling islands offshore in the Gulf, while also processing higher-pressure associated gas for sweetening in Khursaniyah, the sources said. Low-pressure gas would be sent to the Berri gas plant in Jubail, which will be expanded under a programme to recover more natural gas liquids (NGL) and sulphur.
UK Subsea Sector Set to Increase Exports in 2017
British subsea companies are expecting to increase overseas activity in the next 12 months, according to a survey conducted by industry body, Subsea UK. Of the 300 member companies surveyed, 27% are predicting increasing exports by 50% or more in 2017. More than half (56%) expect overseas sales to increase between 1% and 49% with only 17% not expecting any increase in export revenues. A third of companies surveyed do not yet know what effect Brexit will have on their export plans, with 49% believing that it will have no impact on their plans.
India Looks at Creating Oil Giant to Take on Global Rivals
India plans to create a giant oil company by combining state-owned firms, finance minister Arun Jaitley said on Wednesday, as the world's third largest oil consumer looks to better compete with global majors in acquiring foreign assets. New Delhi is struggling to raise local oil production and imports about 80 percent of its oil. Prime Minister Narendra Modi in 2015 set a goal of cutting that to 67 percent by 2020. India is replacing China as the…
Three Mega NSW’s solar Project Take shape
Three big solar projects in NSW supported by the Australian Renewable Energy Agency (ARENA) are set to begin construction within weeks after getting the financial green light. The plants in Parkes, Griffith and Dubbo will consist of more than 400,000 panels and when completed will provide enough renewable energy to power 41,500 homes per year. Developed by renewable energy company Neoen, the plants make up a quarter of the projects funded under ARENA’s ground breaking Large-Scale Solar Competitive Round…
New Subsea Storage Technology Introduced
In January of this year, Dutch subsea technology company Seatools completed an R&D program on a subsea liquid storage technology. During the program – a continuation of an earlier engineering study performed on behalf of Statoil Petroleum AS – the storage technology passed a full product qualification test program and will now be applied at a Pile Installation Frame operated by Seaway Heavy Lifting. The oil and gas industry’s shift toward seabed positioning of (pressure-balanced) equipment like pumps…
Partners Address Pipe-walking Challenges
The Industry Technology Facilitator (ITF) said it is welcoming additional participants to a new joint industry project (JIP) to develop pipeline anchoring and monitoring systems which could mitigate the risk of pipeline walking and cut pipeline anchor installation costs in half. The Anchoring Pipeline Technology (APT) JIP will bring together major global operators and pipeline installation companies to collaborate with ITF and Crondall Energy, an independent oil and gas consultancy…
ABS Issues RP for Hybrid Riser Systems
ABS has published the ABS Guidance Notes on Subsea Hybrid Riser Systems, the first set of recommended practices for hybrid riser systems in the offshore industry. “The introduction of new approaches like those being considered for hybrid risers has the potential to positively impact safety,” explained ABS Chairman, President and CEO Christopher J. Wiernicki. Developed with industry partners for use in conjunction with the ABS Guide for Building and Classing Subsea Riser Systems…
GTT Bags Order to Equip Höegh’s New FSRU
GTT said it has received an order from Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. The vessel will be built at Hyundai's shipyard in Ulsan, on behalf of Höegh LNG Holdings Ltd. This FSRU will have a storage capacity of 170,000 m3. Delivery is scheduled in 2018. Currently, four FSRUs built by HHI and equipped with the Mark III technology are in service.
Canada's MGX Minerals Hunts Battery Lithium in Oilfields
Canada's MGX Minerals is close to completing testing of technology that uses brine from oilfields aiming to shorten the production of lithium to just one day, CEO Jared Lazerson told Reuters. Hopes for the trial and plans to expand have helped boost MGX's share price by more than 250 percent this month, with its market capitalisation topping C$100 million ($76 million), Reuters data shows. Lithium, known as white petroleum, is used in rechargeable batteries needed for mobile phones and electric cars.
TGS commences onshore seismic project in Permian Basin
TGS announces commencement of field operations on the West Kermit 3D seismic survey in the Delaware Basin. This project will encompass a minimum of 150 square miles in Loving and Winkler Counties, TX. This high resolution 3D survey is designed to assist in the evaluation and development of multiple zone potential including highly productive Wolfcamp and Bone Spring intervals. Data Acquisition is expected to begin in early Q2 2017 with final data available to clients in Q4 2017.
GM, Honda to announce Fuel Cell Technology Advance
General Motors Co and Honda Motor Co are expected on Monday to announce an expansion of their collaboration on fuel cell technology development, people familiar with the plans said following a notice of a press conference. GM and Honda on Friday said two senior executives would hold a news conference in Detroit with Michigan's Lieutenant Governor, Brian Calley. Mark Reuss, GM's executive vice president for global product development and Toshiaki Mikoshiba…
Tosibox Technology Improves ANGI Energy Systems' Operations
Tosibox, maker of secure industrial communication technology and the world’s first remote access device with Plug & Go technology, is expanding its partnership with ANGI Energy Systems, a U.S.-based manufacturer of engineered gas compression equipment and a supplier of compressed natural gas (CNG) fueling equipment and systems. Tosibox Lock and Tosibox Key are now integral parts of ANGI’s communication panel and included in all new equipment installations. The technology allows ANGI to remotely address any problems or issues.
Innovative Cruise Ship Hosts LNG Conference
As part of the international trade conference "Making LNG Happen: Combining Forces for Sustainable Shipping," 80 representatives from the fields of business, politics and science visited the cruise ship AIDAprima in Rotterdam on Thursday, January 26, 2017. The guests included Dirk Brengelmann, Ambassador of the Federal Republic of Germany in the Netherlands and his Norwegian colleague Martin Sørby. Hosting the event onboard AIDAprima was symbolic and significant…
The Switch set to boost marine growth
The Switch is targeting growth of 200% within the marine segment in the next five years, building on the momentum of a flurry of recent orders, its acquisition of Wartsila Drives, and the financial muscle of its parent company, the EUR 3.3 billion turnover Yaskawa Electric Corporation. The Finnish headquartered business, a specialist in the development and supply of advanced drive train solutions, believes its permanent magnet (PM) and frequency converter technology can have the same transformational effect on marine as it has had in wind.
Zilift’s TorqueDrive Achieves Year's Production in US Well
Aberdeen-based Zilift, has achieved more than one year’s production from its TorqueDrive technology in a cyclic steam operated, previously sub economic, well in California. The achievement further underpins the company’s position as a leading energy sector developer of electrical submersible pumps (ESP) based on permanent magnet technologies. The system was installed in the side-tracked well, through 4 ½” liner and more than 21 degrees per 100 feet dogleg severity, in December 2015.
IEA Urges Poland to Clean Up its Energy Sector
Poland's new energy strategy should put the country on a pathway towards a cleaner energy system while strengthening energy security, the International Energy Agency said in its latest review of the country's energy policies. The forthcoming energy strategy is likely to prioritise long-term energy security, placing a strong emphasis on reducing greenhouse gas (GHG) emissions and air pollution, increasing energy efficiency and decarbonising the transport system.
Global Oil Demand to Grow into 2040s
Global oil demand will keep growing into the 2040s due to higher consumption of plastic goods even as the electric vehicle fleet expands rapidly and technology revolutionises transport, BP said in its annual Energy Outlook on Wednesday. The forecast of sustained demand growth for the fossil fuel comes as other oil companies such as Royal Dutch Shell brace for demand to plateau by the early 2030s while countries gradually shift to less-polluting energy.
Sembcorp’s Chongqing Power Plant Achieves Full Operation
Sembcorp Industries (Sembcorp) power plant in Chongqing has successfully commenced full commercial operation following the completion of its second 660-megawatt unit. The 1,320-megawatt coal-fired plant comprises two units of 660 megawatts each, with the first unit completed in November 2016. Located in Anwen, Qijiang district, the 1,320-megawatt power plant utilises supercritical technology and is one of the most efficient power plants in Chongqing.
Unique Completes On-Line Steam Leak Sealing
Unique Group’s On-Site Engineering division, through its Wellube brand, effectively performed the On-Line Steam Leak Sealing for Abu Dhabi Gas Liquefication Company (ADGAS). The service was performed on the 2.4 meters OD heat exchanger flange leak along the pipeline. It’s design parameters were 434 degrees Celsius at 60 bar. ADGAS established in 1973, was the first LNG production company in the Middle East and North Africa region. It is known as a clean energy producer with a long history of reliability…
Innogy Forges Ahead with U.S. Wind Plan
Innogy, Germany's largest energy group, sees no reason to scrap plans to enter the U.S. onshore wind market, its chief executive said, unimpressed by worries over future support of renewables in the wake of Donald Trump's presidency. "We are not in waiting mode in the United States. We are relatively advanced," Peter Terium told journalists at the annual Handelsblatt energy conference. "We do it because wind is a competitive technology in the United States…