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.
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.
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)…
Neoen Chooses O&M Platform for Australian Wind Farm
Neoen, a renewable project developer and owner, has chosen QOS Energy’s innovative O&M management platform to monitor the performance of the 315 MW Hornsdale wind project, which will be among the largest wind farms operating in Australia once fully commissioned. The project, consisting of 96 Siemens 3.2MW wind turbines, is being built in three stages; two of which have been completed. Neoen has deployed Qantum, the IEC compliant energy management SaaS powered by QOS Energy, to monitor the two first stages of the project.
Shell Opens Technology Center in Bangalore
Shell has opened a new major technology hub in Bangalore, India, expanding the company’s R&D activities in Asia. The 52-acre, custom built technology center can house up to 1,500 experts working collaboratively on innovative projects worldwide. Shell Technology Center Bangalore (STCB) brings together R&D staff who previously worked at separate locations in Bangalore and also provides additional space for high-tech innovation and demonstration facilities.
Danfoss, General Electric Join Forces
Danfoss Silicon Power has announced it is establishing production in the U.S. and entering into a collaboration with industrial giant General Electric (GE). The collaboration means that Danfoss Silicon Power will become the world’s leading provider of silicon-carbide (SiC) power modules. The SiC power modules will create smaller, faster, and more effective electronic devices — and are expected to revolutionize the technology within solar and wind energy as well as the future generations of electric and hybrid cars.
Hydro Group Completes MeyGen Contract
Aberdeen-based subsea cable and connector specialist, Hydro Group has completed a contract with technology developer and supplier of tidal turbines, Andritz Hydro Hammerfest (AHH). The agreement saw Hydro Group supply complete connection systems for three turbines on the world’s most advanced multi-turbine tidal stream energy development. This second MeyGen contract followed on from an announcement in November 2015 regarding a contract with Atlantis…
John Crane Discusses Technologies for Managing Gas Emissions
A United Nations panel examining the critical role gas will play in achieving the international organization’s Sustainable Development Goals has invited an expert from John Crane to showcase how the firm’s technology is reducing methane emissions in sectors of the natural gas industry by up to 95%. John Crane is a division of the global technology company Smiths Group Plc. Paul Hosking, senior product marketing manager, gave a presentation at the UN’s Economic Commission for Europe’s Committee on Sustainable Energy to the Group of Experts on Gas.
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.
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.
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.
Suncor Evaluates Potential Oil-sand Deals as Majors Exit
Suncor Energy, Canada's largest energy producer, is still evaluating opportunities for oil sands acquisitions in northern Alberta as foreign oil majors exit the high-cost region, Chief Executive Steve Williams said on Thursday. However, the company has a high bar in terms of return on investments and did not feel any pressure to agree on another oil sands deal, Williams said. Calgary-based Suncor bought Canadian Oil Sands and Murphy Oil's stake in the Syncrude project last year, making it the majority owner of the 350,000-barrel-per-day project.
Keppel FloaTEC Secures Contract for TLWP in Vietnam
Keppel FloaTEC LLC, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract worth about $40 million from PTSC Mechanical & Construction (PTSC M&C) to provide engineering, technology and construction management support services for the Repsol Ca Rong Do Tension Leg Wellhead Platform (TLWP) to be built in Vietnam. PTSC M&C, the service arm of Vietnam Oil and Gas Group (PetroVietnam), is the main engineering, procurement, construction and installation (EPCI) contractor for the TLWP.
BP sheds Petrochemical Stake to Sinopec
BP has agreed to sell its 50 percent stake in the Shanghai SECCO Petrochemical Company to a subsidiary of its joint venture partner Sinopec for $1.68 billion, the British oil major said. The sale represents BP's first major divestment of a year in which it expects to sell assets worth between $4.5 billion and $5.5 billion this year. It said it decided to sell out of the business because it wants to focus on areas where BP has proprietary technologies that give them a competitive advantage.
MPA Honors ABS
ABS has been awarded the Offshore & Marine Engineering Award by the Maritime and Port Authority of Singapore (MPA). This award recognizes organizations that have made significant contributions toward the development of Singapore’s offshore and marine engineering sector. “ABS is honored to receive this award recognizing our leading role in Singapore’s marine and offshore industries,” says ABS Chairman, President and CEO Christopher J. Wiernicki.
Vestas Contemplates End to Green Power Subsidies
Electricity generation from wind turbines could become profitable even without government subsidies in the next decade if more large-scale developments are allowed, the world's top turbine maker Vestas said on Wednesday. In Denmark, the company's home country, the minister of climate and energy earlier this week outlined plans to end its green subsidies before 2030. "Our ambition is very well in line with the minister's" Vestas' spokeswoman Gry Moger Poulsen told Reuters…
DP Conference: Call for Papers
As the offshore oil and gas industry continues to rebound, so will the demand for dynamic positioning technology and services. The annual Dynamic Positioning Conference provides an annual forum for discussion and for exchange of knowledge, experience, new technology and technical know-how associated with the use, evolving technology and application of dynamic positioning. Each year, the conference continues to attract DP professionals from around…
GE Power Division Signs $3 bln Services Deal in Algeria
GE Power, a division of General Electric Co, has signed a services deal with a subsidiary of Algerian utility Sonelgaz valued at more than $3 billion, the largest such agreement ever for GE Power, GE said on Monday. Under the 20-year contract with Sonelgaz SPE, GE will provide long-term maintenance and operations services for 10 power plants in Algeria, which produce 11 gigawatts of power, about 70 percent of Algeria's electricity, GE said. The agreement is expected to save Sonelgaz $2 billion in gas costs over 20 years, GE said.
Total, Heriot-Watt University Sign Research Deal
Energy giant Total and Heriot-Watt University have signed five-year partnership agreement worth a minimum of GBP 2.5 million to boost research and education. Scotland’s First Minister Nicola Sturgeon visited the Edinburgh Campus of Heriot-Watt University yesterday (Thursday 20 April) to mark the signing of the deal between Total and the University’s Institute of Petroleum Engineering. The agreement was signed by Elisabeth Proust, managing director, Total E&P UK, and Dr Gillian Murray, deputy principal, Business and Enterprise, at Heriot-Watt University.
Ampelmann Unveils the Icemann
Ampelmann, provider of offshore access to the energy industry, has unveiled its latest walk to work system which has been specially designed for operation in extreme cold conditions. The N-type, nicknamed Icemann, was officially launched in front of 200 guests on Thursday, April 20, in Rotterdam, Netherlands. Designed to safely and efficiently transfer crew in extreme icing and temperatures as low as -28C (-18F), the fully enclosed and insulated…
ConocoPhillips: Slow & Steady Wins the Race
ConocoPhillips has beaten its 2017 asset sales target less than four months into the year, after shedding $30.8 billion worth of energy assets in six years. But instead of a chorus of cheers on Wall Street, Chief Executive Ryan Lance is facing investor skepticism that the company can deliver growth from remaining oil and gas fields. ConocoPhillips' most recent sales of Canadian oil-sands properties and U.S. natural gas wells for a combined $16 billion…
Industry Entrepreneur Acquires Oil Plus
An energy industry entrepreneur has snapped up Oil Plus Ltd, a specialist oil and gas consultancy based in Berkshire, south England. Mark Cavanagh, managing director of Crandale Consultants, acquired the business from John Crane Inc, a division of Smiths Group plc, for an undisclosed value. Oil Plus plans on adding to its workforce over the next 12 months as it targets double-digit growth and forecasts turnover of £3 million. Cavanagh has more than 25 years of experience in the oil and gas industry…
WIN WIN: Wind Powered Oil Recovery Concept Progresses
The DNV GL-led joint industry project, WIN WIN (WINd powered Water INjection), has completed its first phase and determined that wind power could be used to power offshore water injection. The project is currently moving into its second phase, which includes refining and testing the electrical systems, and investigating possibilities for broader applications. The project consists of four partners: DNV GL, ExxonMobil and ENI Norge – all part of the first phase – and the Norwegian Research Council – a new participant for this second phase.
Ektank Chem Tankers to Sport Hybrid Propulsion
The Switch received an order from WE Tech to deliver its permanent magnet (PM) shaft generators to two 18,600 dwt chemical tankers currently under construction for Sweden’s Ektank AB. Sweden's Ektank AB is family-owned with a modern fleet of five chemical tankers in size ranging from 13,700 DWT to 17,000 DWT. The PM-based shaft generator is a powerful proposition for today’s cost and environmentally conscious shipowners. This deal is an example of how PM technology is set to revolutionize the maritime industry.
New Cutmaster 60i Plasma Cutter
Thermal Dynamics, an ESAB brand, announced that its new Cutmaster 60i handheld air plasma cutting system is now available for purchase through traditional and online welding distribution outlets. Cutmaster 60i weighs 37 lbs. and provides a rated output of 7.6 kW at 50 percent duty cycle at 60A. It produces a recommended cut of 5/8 in., has a maximum sever thickness of 1-1/2 in., and provides the fastest cut speed at any thickness material for its class.
Russia Needs Gas Turbines for Crimea Power Plant
Russia is struggling to source gas turbines for two new power plants it is building in Crimea, Russian Energy Ministry Alexander Novak said on Wednesday. European Union sanctions bar European individuals and companies from providing energy technology to Crimea, which Russia annexed from Ukraine in 2014. The Black Sea peninsula has suffered electricity shortages since then. Three sources told Reuters last year that turbines for the Crimean plants would be made by Siemens Gas Turbine Technologies LLC…
Waterous Targets Canadian, U.S. Energy Assets
Private equity firm Waterous Energy Fund is seeking investment opportunities in the Canadian oil and gas sector as valuations turn attractive after a prolonged slump in the oil price, making a contrarian bet as global players pull back, its top executive said. Calgary-based Waterous Energy, which invests C$100 million to C$400 million ($75 million to $300 million) per deal in energy assets, is targeting companies in Canada and the United States…
Canada, G7 Partners to Push LNG
The Government of Canada recognizes the critical role of international cooperation on energy, as it impacts economic and social development, innovation, safety and security, environmental protection, and climate change. Canada's Minister of Natural Resources, the Honourable Jim Carr, reinforced the Government's commitment to advancing lasting, good jobs in energy, ensuring energy access and security around the world and expanding the clean-energy economy while at the G7 Energy Ministerial in Rome, Italy, this week.
Hurricane Energy Triples North Sea Recoverables Estimate
Hurricane Energy, listed on London's Alternative Investment Market (AIM), has tripled its estimate of recoverable oil from its Lancaster field in the North Sea, the company said on Friday. The statement comes just over a week after the company announced an oil discovery in the Halifax well in the West Shetlands region, which it thinks could be Britain's largest undeveloped oil find. As part of a day of presentations to analysts and investors, Hurricane…
Asia Demand, Hedging Boosts Trading in Forward U.S. Oil Contracts
Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom have shown an affinity for far-dated contracts, the CME Group Inc said on Thursday. NYMEX light sweet crude oil futures average daily volume hit an all-time high of 1.303 million contracts in November 2016, according to exchange data. Demand out of Asia/Pacific was notably stronger, with trading volume rising 93 percent from a year earlier, according to data provided to Reuters by the CME.
DCC Taps Energy Boss as Next CEO
Donal Murphy to succeed Tommy Breen as CEO from July; DCC will buy Shell's LPG business in Hong Kong and Macau. Support services company DCC has picked the head of its energy division, Donal Murphy, to succeed retiring chief executive Tommy Breen from July, it said on Wednesday. The company also announced plans to buy Shell's liquid petroleum gas (LPG) business in Hong Kong and Macau for HK$1.165 billion ($150 million) including debt, as part of a drive to focus more on energy - its largest business.
DNV GL Standardizes Subsea Forgings Requirements
Steel forgings are essential building blocks for subsea components, but tailor-made solutions to meet end-users’ specific requirements have caused long delivery times. A joint industry project (JIP), led by DNV GL, has now taken the next step in subsea standardization by harmonizing requirements for quality management of forgings. The recommended practice (RP) ‘Steel forgings for subsea applications – quality management requirements’, DNVGL-RP-B202, will enable delivery of high quality forgings at reduced delivery times and cost.
FairfieldNodal, Ikon Science Team Up
FairfieldNodal has announced an exclusive alliance with Ikon Science, an industry leader in geoprediction software sales and services, to offer complete reservoir services to the oil and gas industry. For nearly four decades, FairfieldNodal has been a trusted industry resource for multi-client seismic, data acquisition and data processing services. With this strategic alliance, the company can offer its customers an expanded technology portfolio that includes data acquisition, data processing and, now, reservoir services.
iSURVEY Awarded Contract with Maersk Oil
Following an eight-year relationship with Maersk Oil, iSURVEY has been awarded a survey and positioning contract with the international oil and gas company. Commencing in March 2017, the four-year contract, which has the option to extend by one 12-month period, sees iSURVEY named as the nominated first caller contractor for survey and positioning services. iSURVEY will specifically support Maersk Oil Danish Business Unit with rig move operations in the Danish sector of the North Sea.
EMEX Utility Group Launched
EMEX, LLC has announced the opening of its newest division: EMEX Utility Group (EUG), specializing in servicing local distribution companies, municipally owned utilities, and large industrial consumers in procuring electricity and natural gas supply. "Servicing the next level up in energy consumers is an intuitive step forward for EMEX," commented Dan Marzuola, President and COO of EMEX. "We are uniquely positioned in this marketplace to offer a compelling new way to buy & sell system gas and electricity through our reverse auction platform…
Emerson Expands Reservoir Management Software Capabilities
Emerson Automation Solutions has launched the latest version of its reservoir management software suite - Roxar Tempest 8.0 - bringing reservoir engineers more tools to maximize the potential of their fields. The latest version features additional history-matching capabilities; enhanced field productivity thanks to greater simulation performance; and an integrated workflow from geosciences to production. “Our reservoir management software has always…
PetroChina Mulls Aramco Listing
PetroChina will consider taking part in national oil giant Saudi Aramco's initial public offering based on market conditions, it said on Thursday, the second Chinese oil major to discuss becoming an investor this week. "Saudi Aramco has raised this plan to PetroChina," president and vice-chairman Wang Dongjin said on Thursday at a briefing following the announcement of China's largest oil and gas producer's 2016 results. "I think we will make our evaluation and study based on the market situation," Wang said.
Pemex Delves Deep into UK Subsea Sector
Senior figures from Mexico’s national oil company, Pemex, have been discovering the secrets of the UK subsea sector’s success and how it has revolutionized the way in which hydrocarbons have been extracted from beneath the seabed during a fact-finding visit to Aberdeen. Organized in partnership with the Department of International Trade (DIT), the five-day subsea learning event included site visits to some of the sector’s most innovative companies, including GE Oil & Gas, Aker Solutions, Hydrasun, Wood Group, BP and ROVOP.
Green Power Law Impacting U.S. Utilities
In the last four years, North Carolina has become the second largest solar market in the United States, behind only California. It has installed more solar energy than Texas, which has nearly three times the population; more than Arizona, which has twice as many sunny days; and more than New York, which has far more aggressive renewable energy targets. North Carolina’s solar boom is rooted in a federal law enacted four decades ago – one that has only recently had much impact.
BP to Leverage Americas Oil Boom
U.S. shale, Canadian sands, Brazilian offshore lift output; BP wants to expand trading desk as trade flows rise. Oil major BP expects its trading operations to benefit from growing global crude trade on the back of abundant U.S., Canadian and Brazilian production and rising energy demand in Asia, a top BP executive said. Tufan Erginbilgic, the head of BP's downstream division that includes one of the world's most powerful trading desks, told Reuters he wanted to expand BP's trading activities using long-term deals on third-party oil and products. U.S.
“Twisties” to Aid Offshore Wind Logistics
DNV GL launched a new joint industry project (JIP) to develop a Recommended Practice intended to de-risk the adoption of “Twisties” and demonstrate the unitization of wind project cargo. The innovative concept is called “Twisties” - a modular project-cargo transport frame system that is sea-fastened using container twist locks – and which gives the frames their name. The increasing size and quantities of wind turbines installed offshore means that…
Trump Signs Order Sweeping away Obama-era Climate Policies
U.S. President Donald Trump signed an executive order on Tuesday to undo a slew of Obama-era climate change regulations that his administration says is hobbling oil drillers and coal miners, a move environmental groups have vowed to take to court. The decree's main target is former President Barack Obama's Clean Power Plan that required states to slash carbon emissions from power plants - a critical element in helping the United States meet its commitments to a global climate change accord reached by nearly 200 countries in Paris in 2015.
Genoil Bolsters Management Team
Genoil Inc. (GNOLF), the publicly traded clean technology engineering company for the petroleum industry, has announced the addition of a special adviser to its management team with the appointment of Douglas A. Phillips, CPA, who joins Genoil to provide strategic input on major transactions and provide advice to top management. Phillips has a distinguished track record in business counsel, having served a wide variety of domestic and foreign companies in the areas of accounting and auditing, mergers and acquisitions, and corporate structuring.
Kongsberg Launches Kognifai
Kongsberg has announced the launch of Kognifai, its open and collaborative digital platform that places a portfolio of applications into the cloud. Kognifai focuses on optimizing data access and analysis for customers across maritime and energy industries, and also provides an integrated development and distribution platform for efficiency enhancing applications. “With Kognifai we are launching an open ecosystem for customers, partners, and suppliers,” said Hege Skryseth, Executive Vice President, Kongsberg and President, Kongsberg Digital.
Statoil's Offshore Norway Project to give 248 mln boe
Statoil submits plans (PDO) for Njord extension, Bauge field; Total $2.4 bln investments, recoverable resources 248 mln boe. * Statoil's project manager Torger Roed says "we are working hard to make more decisions on new projects. Two of them are Johan Castberg and the Snorre expansion.
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.