Friday, November 24, 2017

Aquaterra Energy News

Aquaterra Names Hawkes Financial Director

Nick Hawkes (Photo: Aquaterra Energy)

Offshore engineering solutions provider Aquaterra Energy has appointed Nick Hawkes as Financial Director based at the company’s headquarters in Norwich. Hawkes has more than four years’ experience in the oil and gas industry and joins Aquaterra having spent nearly 20 years with Babcock International Group where he latterly held the position as Financial Director for 15 years. Hawkes graduated from Bournemouth University in 1987 with a BA (Hons) Business Studies.

Sea Swift: New Platform Operational in Egypt

The 385 tonne topside of the Aquaterra Sea Swift being installed. It features a helideck and emergency accommodation with provision for six wells (Photo: Aquaterra Energy)

Global offshore engineering solutions provider Aquaterra Energy has designed, fabricated and installed a new Sea Swift platform for PICO Petroleum Integrated Services, the lead contractor for Amal Petroleum Company’s (AMAPETCO) Amal field in the Gulf of Suez, offshore Egypt. The Sea Swift is a Conductor Supported Platform (CSP) and is installed in 23 meters water depth. It included a 385 metric ton topside featuring a helideck and emergency accommodation with provision for six wells.

Aquaterra Wins North Sea Contract

George Morrison is managing director of Aquaterra Energy and creator of the Well Start specialism (Photo: Aquaterra)

Aquaterra Energy won a  contract to supply subsea high pressure riser (HPR) equipment and services for a subsea abandonment project in the central North Sea. The multi-million dollar deal will see Aquaterra facilitate the abandonment of ten subsea wells via deployment of a subsea HPR system from a jack-up rig. The scope of work could be extended to include two further subsea wells bringing the total number of abandonments to 12. Riser analysis was completed in-house by Aquaterra and validated by Bureau Veritas.

Aquaterra Signs Investment Deal with EV

Photo: Aquaterra

Aquaterra Energy, a  global offshore engineering solutions provider, has secured a multi-million pound investment from EV Private Equity as the company gears up for service expansion and new technology launches. The deal is the first to be agreed following EV’s pledge last year to invest $200 million in North Sea businesses with new technologies and high growth potential. The independent private equity firm confirmed it was seeking to invest between $10 million to $40 million in each company.

AS Mosley Strengthens Management Team

Dr Appapillai Thavalingam (Photo: AS Mosely)

AS Mosley has strengthened its senior management team with two new appointments. Aberdeenshire-based AS Mosley has welcomed Dr Andrew Trim (Andy) and Dr Appapillai Thavalingam (Thava) as it prepares to strengthen existing capabilities. Both bring the combined experience of its senior management team to well over 100 years. Dr. Trim  takes up a consultant engineer position with the company and holds over 30 years’ experience in both performing and supervising dynamic analysis work.

US Oil Rig Count Steady this Week -Baker Hughes

© Aneese / Adobe Stock

U.S. energy companies kept the oil rig count unchanged this week, General Electric Co's Baker Hughes energy services firm said on Friday, as some analysts expect a gradual decline in overall rigs in the fourth quarter and in 2018. The rig count, an early indicator of future output, held at 738 in the week to Nov. 17, still much higher than 471 rigs a year ago as energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash.

J.v.G. Thoma Introduces the Automatic Robot-LayUp 2020

Photo: J.v.G. Thoma

Solar power specialists J.v.G. Thoma GmbH have completed a further automatic robot lay-up, the result of years of research and development by J.v.G. Thoma into the most efficient ways of harnessing renewable energy from the sun. The company is renowned in the field of photovoltaic energy production for their innovative DESERT+ technology solutions, with solar panels designed for use in extreme climatic conditions. Now, with the introduction of the 120 MW…

Turkey, Iraq Discuss Resuming Kirkuk Oil Exports

© Evren Kalinbacak / Adobe Stock

A Turkish energy delegation has met with Iraqi top oil officials in Baghdad to discuss issues including the resumption of Kirkuk oil exports via the Turkish port of Ceyhan, Iraq's oil ministry said in a statement on Thursday.   "A high level Turkish energy delegation met with senior oil officials, including officials from state-run SOMO, to discuss ways to restart Kirkuk oil exports," the statement said. (Reporting by Ahmed Rasheed; editing by Jason Neely)

Energy Leaders Gather for the IEA Ministerial Meeting

Ministers and top government officials from the IEA’s 29 member countries, seven Association countries and other partners, as well as more than 30 CEOs from energy industry met in Paris on November, 7-8  2017 (Photograph: Andrew Wheeler, IEA)

Ministers and top government officials from the International Energy Agency’s 29 member countries, seven Association countries – Brazil, China, India, Indonesia, Morocco, Singapore and Thailand – and other partners, as well as more than 30 CEOs from across the energy spectrum, met in Paris this week for the IEA’s 2017 Ministerial Meeting. Held under the chairmanship of Ibrahim Baylan, Sweden’s Minister for Policy Coordination and Energy, the meeting highlighted the IEA’s role as the world’s leading energy authority and a global hub for clean energy.

Talos, Stone Energy Plan $2.5 Bln Merger

Talos Energy LLC and Stone Energy Corp, two U.S. exploration and production companies focused on the Gulf of Mexico, announced on Tuesday plans to merge and create a new company valued around $2.5 billion including debt, sending Stone's shares down nearly 13 percent. "The idea of a reverse merger works very well for us, as we get a lot of talented people into the company and also use a structure which gets us to the public equity markets", said Timothy Duncan…

Offshore Oil Service Firms Dominate Energy Bankruptcies

(File photo: Ocean Rig)

Offshore oil drilling and service companies, hurt by the energy industry's shift to lower-cost shale and away from deepwater projects, are dominating the year's energy bankruptcies in North America, according to law firm Haynes and Boone. There were fewer oilfield service companies seeking protection this year than last but those that did have had larger debts. Through October, 44 oilfield services companies filed for bankruptcy in the United States and Canada owing creditors $24.8 billion…

Qatari Energy Minister Sees LNG Oversupply

© mmmx / Adobe Stock

Qatar's energy minister, Mohammed al-Sada, said on Wednesday he expects oversupply of liquefied natural gas in the coming years due to increased production, but the market should tighten after 2025. Al-Sada, speaking at the Gas Exporting Countries Forum in Santa Cruz, Bolivia, said the country, the world's largest exporter of LNG, is working to increase gas production and LNG exports. Reporting By Marianna Parraga

Record Low Bid for 24/7 Block Mixing Wind and Solar at Chile Tender

Project Render (Photo: Verano Capital)

Verano Capital, an American project developer headquartered in Santiago, has announced that the 47 MW solar project they initially developed was selected in Chile’s latest energy tender with a winning bid at $25.38/MWh, the lowest 24/7 block price combining solar and wind ever recorded in the history of energy tenders. The winning bid was offered by a solar project which will be coupled with wind projects to offer a 24/7 supply over a 20-year period.

U.S. Wind Firms Cheer Senate Tax Bill Provisions

File Image (CREDIT: Siemens)

The U.S wind energy industry on Friday cheered a Senate tax proposal that, unlike the House version unveiled last week, preserves the tax credit that helps wind farms compete with plants fired by fossil fuels. The Senate plan brought relief to an industry that has spent the last week warning lawmakers on Capitol Hill that changes to the credit would put $50 billion in planned investment at risk. However, if the House and Senate pass their differing proposals on the Republicans' broad tax-cut plan…

Oil Steadies Ahead of OPEC Meeting

File Image (CREDIT: AdobeStock / (c) scanrail)

U.S. output may rise more than rig count suggests - Westwood. Oil prices were only slightly firmer on Tuesday as traders looked ahead to a meeting next week at which major crude exporters are expected to extend production cuts but the prospect of rising U.S. output capped gains. Brent crude oil was up 12 cents at $62.34 a barrel at 1145 GMT. U.S. light crude was at $56.56, up 14 cents. Analysts said Brent was expected to fluctuate in a narrow range…

Senate Panel Set to Advance Quest for Oil in Alaska Refuge

(Photo: USFWS)

Oil drilling in a vast Alaskan wildlife refuge could move a step closer to reality on Wednesday as a Senate panel votes to open part of the reserve coveted by conservationists. Republicans, who control Congress and the White House, have long wanted to prise open a portion of the Arctic National Wildlife Refuge on the north coast known as the 1002 area. Senator Lisa Murkowski, an Alaska Republican and the head of the Senate energy committee, says drilling in the refuge is needed to provide jobs and boost the country's resource base. But former U.S.

Coal's Future Remains Uncertain

File Image (CREDIT: AdobeStock / (c) Carolyn Franks)

A year after Donald Trump was elected president on a promise to revive the ailing U.S. coal industry, the sector’s long-term prospects for growth and hiring remain as bleak as ever. A Reuters review of mining data shows an industry that has seen only modest gains in jobs and production this year - much of it from a temporary uptick in foreign demand for U.S. coal rather than presidential policy changes. U.S. utilities are shutting coal-fired power plants at a rapid pace and shifting to cheap natural gas, along with wind and solar power.

US to Become Oil and Gas World Leader in Long Term - IEA

© travelview / Adobe Stock

The head of the International Energy Agency Fatih Birol said on Thursday the United States would - in the long term - become the "undisputed leader of oil and gas production worldwide".   Speaking at the U.N. climate conference in Bonn, Germany, he said the agency expected oil markets to rebalance next year if oil demand remained "more or less" as robust as it is today and if OPEC and non-OPEC continued with their oil production cuts.     (Reporting by Ahmad Ghaddar; Editing by Mark Potter)

U.S. drillers Add Most Rigs since June -Baker Hughes

File Image (CREDIT: AdobeStock / (c) Shamtor)

U.S. energy companies added the most oil drilling rigs in week since June as crude prices traded up to their highest levels since the summer of 2015. Drillers added nine oil rigs in the week to Nov. report on Friday. price crash. over the summer. The U.S. of a 380,000 bpd increase. U.S. 8.9 million bpd in 2016, the EIA said. million bpd in 1970. The largest U.S. long as oil prices stay above $50 per barrel. U.S. week, their highest since July 2015. year's $43.47 average. of the year and calendar 2018. production at any cost.

Saudi Arabia Limits US Crude Shipments, Iraq Steps In

Photo courtesy of Motiva Enterprises

Saudi Arabia's efforts to reduce a worldwide crude supply glut by cutting shipments to the United States means others are now filling in, most notably Iraq, in a trend that is set to accelerate in coming months. Over the summer, normally one of the busiest periods for crude shipments, U.S. imports of crude from Iraq rose by 41 percent from a year ago, while similar shipments from Saudi Arabia have dropped by 22 percent. That trend has continued…