PTTEP Makes Gas Discovery in Off Australia
Thai oil and gas company PTT Exploration and Production Public Company Limited (PTTEP) has made a gas and condensate discovery at the Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia.Phongsthorn Thavisin, President and Chief Executive Officer of PTTEP disclosed that PTTEP Australasia (Ashmore Cartier) (PTTEP AAA), a wholly owned subsidiary of PTTEP had made a successful discovery of gas and condensate at the Orchid-1, said a statement from the company.Commenced in January this year…
Aqualis Offshore Establishes Office in Australia
Marine and offshore engineering consultancy Aqualis Offshore has set up an office in Perth, Western Australia, to support oil and gas developments in the Australasia region.“We have supported important projects offshore Australia in recent years and believe it represents a market with good potential. There seems to be an increasing confidence in growth in offshore activity here, so we feel the time is right to set up a dedicated office in Australia,” says David Wells, CEO of Aqualis Offshore…
OMV, Sapura Energy Sign Pact
Malaysia’s Sapura Energy has entered into a heads of agreement with Austria’s OMV to form a strategic partnership and acquire half of Sapura Upstream for $1.6 billion."Under the agreements, OMV Exploration and Production GmbH (OMV E&P), a wholly-owned subsidiary of OMV Aktiengesellschaft, will buy a 50 per cent stake of the enlarged issued share capital in a newly-formed joint venture company, SEB Upstream Sdn Bhd (SUP), based on an enterprise value of up to USD1.6 billion comprising an equity value of up to USD1…
Chevron Names Green President of N. America E&P
Steven W. Green has been named president of Chevron North America Exploration and Production, succeeding Jeff Shellebarger, who is retiring from Chevron after 38 years of service.Green will transition from his current role as president of Chevron Asia Pacific Exploration and Production to oversee the oil major's exploration and production activities throughout North America, including Canada, California, the Gulf of Mexico, Pennsylvania and the Mid-Continent region of the U.S.
Prelude FLNG Enters into Lloyd’s Register Class
Shell’s floating liquefied natural gas (FLNG) facility Prelude has officially entered into Lloyd's Register (LR) class. At 488 meters long, 74 meters wide and displacing about 600,000 tonnes of water, Prelude is the largest floating offshore facility in the world. Last month Prelude arrived at its operating location in the Browse Basin, offshore northwest Australia. It will be moored at a depth of 250 meters and will not be dry-docked for the first 25 years of its expected 50-year operational life.
KBA Europe, Batok Offshore Partner in West Africa
KB Associates Europe Limited KBA(E) has announced a new partnership with the local representative – Batok Offshore and Oil Services Nigeria Limited for the arrangement of KBA(E)’s specialist training courses in country; such as Client Worksite Representative, Combined Diving System Assurance and FMECA Awareness, and Intensive FMECA courses, to be delivered in Lagos – Nigeria. The partnership aims to facilitate local training and consultancy provision to West African Consultants…
Douglas-Westwood: The Great Global Gas Surplus
The production of LNG in recent years has increased dramatically. According to Westwood Global Energy data, LNG liquefaction capacity increased from 121 million tons per annum (mmtpa) in 2000 to nearly 270 mmtpa in 2010, and will reach just over 400 mmtpa by the end of 2017. A wave of ‘mega-projects’, each costing tens of billions of dollars, have been completed in the Middle East and Australasia over this time. With depressed spot prices and further capacity due to come onstream, the outlook for the sector appeared grim.
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.
Neptune Expands Into United States
Neptune Marine Services (Neptune), a provider of specialized engineering, integrated inspection, repair and maintenance solutions to the energy industries, is targeting further growth overseas with its new office in the U.S. Supported by the demand from the company’s key North Sea clientele, Neptune has established an office in Houston, Texas. Operating under the name Neptune Subsea Inc., it will enable Neptune to provide the full suite of Neptune’s services to clients within the Gulf of Mexico and the Americas.
Polarcus Wins Broadband 3D Project in Australasia
Polarcus Limited (OSE: PLCS) received a contract award for a broadband 3D marine seismic project in Australasia. The project is due to commence in Q4 2016 and will run for approximately one month.
Next Wave of FLNG Projects on the Horizon
There will be significant growth in both investment and activity in the FLNG market over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of $58.3 billion in its new market report. Sixty-one percent of this spend is attributed to liquefaction infrastructure, with the remainder from import and regasification facilities. Report author, Ben Wilby, commented, “The industry is about to see the installation of the first floating liquefaction projects. The…
Parkinson Retires from Sunderland Marine
Geoff Parkinson, chief executive officer of North P&I Club’s subsidiary Sunderland Marine, retired on 30 June 2015 following a period of ill health. Tom Rutter, head of the company’s aquaculture business, will continue as interim chief executive officer until a permanent appointment is made. Parkinson (60) led the international fishing vessels, small craft and aquaculture insurer for 19 years and played a major role in negotiating its acquisition by the 170 million GT ‘A’ rated North in February 2014.
Chevron's Kirkland to Retire
Chevron Corporation confirmed that George L. Kirkland, vice chairman and executive vice president, Upstream, will retire from the company, effective June 15. He will be succeeded by James W. (Jay) Johnson, as executive vice president, Upstream, effective June 16. Kirkland, 64, joined Chevron in 1974. He was named executive vice president of Upstream in 2005 and elected vice chairman in 2010. During his career he has held numerous assignments across the company’s worldwide operations…
LOC Expands Australian Operations
London Offshore Consultants (LOC), announced the expansion of its Australian operations with the official opening of its Sydney office today (March 12, 2015). The office will be the second LOC operation in Australia after it opened its first office in Perth.Set up to cover theeastof Australia, the Sydney office will mainly servethe marine market. The services will include hull and machinery advisory, P&I Club work, expert services and casualty management. The office will be headed by Drew Shannon…
PPG to Showcase Coatings at AOG 2015
PPG Industries will showcase new coatings products for the marine and offshore industry at this week’s Australasian Oil and Gas (AOG) Exhibition at the Perth Convention and Exhibition Centre in Perth, Australia, the company announced today. The Pittsburgh-based company will demonstrate its PITT-CHAR XP dual-performance cryogenic spill protection coating, which protects against extremely high and low temperatures in marine and industrial environments. The company will also present SIGMASHIELD 880…
OEG Buys West Australian Oilfield Services Providers
Two West Australian-based oilfield services providers have been purchased by global offshore equipment firm OEG Offshore. The acquisition of Oilfield & Resource Rentals (ORR) and Offshore Cryogenic Services (OCS) provides OEG with a significantly enhanced Perth presence, expansion into the North West region and new offerings in the offshore aviation services and cryogenic tanks markets. “We’re excited about being part of a bigger company with a broader revenue base and a reputable name in the global industry,” said Oilfield & Resource Rentals Managing Director and co-owner Patrick Hanna.
Getting Offshore Fast: New Helicopter Market Forecast
Douglas-Westwood (DW) forecasts $24 billion in expenditure on offshore helicopter services between 2014 and 2018, a 57% increase in comparison to the preceding five-year period. Western Europe will continue to account for the largest share of global expenditure, driven by both the extensive North Sea infrastructure and the preference towards using large helicopters. Although Western Europe will continue to underpin the market over the forecast period, DW expect faster growth rates in Africa, Asia, Australasia and Latin America.
EnerMech Set for Growth in Middle East and Caspian
Halliburton Veteran Takes Up Key Director Role. EnerMech’s focus on strengthening its Middle East and Caspian business has been underlined with the appointment of oil and gas industry veteran Dave McLeod as Regional Director. The mechanical engineering group has an extensive presence in the region with more than 250 staff working from bases in Abu Dhabi, Qatar, Dubai, Iraq, Azerbaijan and Kazakhstan, and on a joint venture in Saudi Arabia. The Aberdeen company’s largest crane maintenance contract…
Demand for Subsea Vessels to Accelerate
Douglas-Westwood (DW) anticipates subsea vessel demand will experience accelerated growth in the coming years at a rate of 7% CAGR. In DW’s new World Subsea Vessel Operations Market Forecast, global subsea vessel operating expenditure is set to total $122 billion (bn) during 2015-2019. Report author, Chen Wei, commented, “Average vessel days are expected to become more expensive due to increasing demand for higher specification assets as field developments move towards deeper waters, as well as more stringent customer requirements for inspection repair & maintenance (IRM) work.
Liquefaction Terminals to Dominate LNG Capital Expenditure
Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger than the previous five years following a slowdown in 2009 through to 2012 as a result of the global recession. Liquefaction terminals will form two-thirds of total Capex, a 90% growth compared to the last five years. Import terminal expenditure is forecast to make up a quarter of total global expenditure, a 112% increase, with LNG carrier expenditure accounting for 9%.