Saturday, December 15, 2018

Oil And Gas Industry News

Yamal LNG Reaches Full Capacity

Image: Novatek

The Yamal liquefied natural gas (LNG) project in Arctic Russia officially commissioned the third and last production line Tuesday.Russia's independent natural gas producer PAO Novatek announced that its joint venture Yamal LNG has reached full capacity at the plant’s three LNG trains.The Yamal LNG project was implemented in record time and on budget with the launches of the second and third trains made ahead of schedule by six months and more than a year, respectively. Russian Federation Prime Minister Dmitry Medvedev participated in the official…

Mexico President's Pemex Plans Rattle Debt-holders

Mexican President Andres Manuel Lopez Obrador (Mexican Government photo)

Mexican President Andres Manuel Lopez Obrador's declaration of war on "neo-liberal" economics has shaken investors holding Petroleos Mexicanos bonds, fueling concern about the future of the highly-indebted state oil company he has pledged to revive.Ratings agencies and three managers spoken to by Reuters at funds that either hold Pemex paper or recently sold it said proposals floated by the government to build a new refinery and give the state a bigger role in the oil industry could put fresh strain on the company, which must pay back almost a…

BW Offshore Recycling FSO Belokamenka

FSO Belokamenka. Photo: BW Offshore

The provider of floating production services to the oil and gas industry BW Offshore has signed an agreement to dispose of the FSO Belokamenka for recycling in compliance with the Hong Kong Convention.The Oslo-listed company said in a press release that the FSO Belokamenka  is an Ultra Large Crude Carrier (ULCC) of 360,700 deadweight-ton capacity built in Japan in 1980.The vessel is 340.5 meters long, 65 meters wide and has a depth of 31.5 meters. It is flagged and registered in Panama and classed by DNVGL, and has been in lay-up off Indonesia since completing a contract as a crude oil terminal off Murmansk, Russia, in late 2015.

Hydrogen As an Energy Carrier

Pic: DNV GL

Hydrogen can play a significant role in decarbonizing world energy supply to mitigate climate change, according to a new research paper by DNV GL, the technical advisor to the oil and gas industry.According to new DNV GL research paper, decarbonization could drive an estimated 100,000-fold rise in demand for hydrogen for energy by 2050. The paper lays out a viable business concept for producing low-carbon transportable hydrogen offshore from natural gas.'Hydrogen as an energy carrier' predicts demand for hydrogen for heating residential and commercial space…

Qatar Quits OPEC to Focus on LNG

Saad Sherida Al-Kaabi. Photo: Qatar Petroleum

Qatar said Monday that it will leave the oil cartel OPEC on January 1 after nearly 60 years. The announcement was made in a series of tweets.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, announced Qatar’s withdrawal from OPEC and said the organization was informed.Qatar is one of the cartel’s smallest oil producers, but is the world’s largest exporter of liquefied natural gas.The abrupt annoucement from the small, gas-rich state that it would sever ties with the influential oil cartel of 15 oil-producing countries after almost six decades has surprised the oil and gas industry around the world.However…

ASEAN Adopts Oil Spill Contingency Plan

Pic: International Maritime Organization (IMO)

International Maritime Organization (IMO) technical assistance and institutional support has been instrumental in the recent adoption of the Association of Southeast Asian Nations (ASEAN) Regional Oil Spill Contingency Plan.IMO said that the plan was adopted by the 24th ASEAN Transport Ministers Meeting, held in Bangkok, Thailand (8 November). The Regional Oil Spill Contingency Plan provides for a mechanism whereby ASEAN Member States can request and provide mutual support in response to any oil spills.It also ensures a common understanding and effective integration between affected and assisting ASEAN Member States…

Simmons Edeco Wins Tonalli Energía Contract

Image: Simmons Edeco

The supplier of onshore drilling and workovers, wellhead maintenance services Simmons Edeco  has been awarded a contract by Tonalli Energia SAPI de CV to provide drilling services in Mexico.Tonalli Energía, SAPI de CV, founded in 2015, is a joint venture between Grupo Idesa Group and Petrofrontera, a subsidiary of International Frontier Resources Corporation, to explore and produce gas and oil in Mexico.The contract, which has already begun, engages Simmons Edeco  to support Tonalli’s onshore oil and gas development Block 24. The Block known as Tecolutla, is in the Tampico-Misantla Basin in the Mexican state of Veracruz.

Aquaterra to Install Two Platforms for FIRST E&P in Nigeria

Image: Aquaterra Energy

Global offshore engineering solutions provider Aquaterra Energy in conjunction with Maerlin Nigeria Ltd, its local partner, has been awarded a contract by FIRST Exploration and Petroleum Development Company Ltd (FIRST E&P) to design, engineer and install two non-identical Sea Swift conductor-supported offshore platforms in the Niger Delta Basin.The provider of offshore engineering solutions and technical support for the oil and gas industry in the United Kingdom and internationally said in a press release that the platforms are destined for the Anyala and Madu fields within Oil Mining Leases 83 and 85 offshore Nigeria…

Canadian Drillers Expect Flat Year

Photo: Canadian Association of Oilwell Drilling Contractors - CAODC

The Canadian Association of Oilwell Drilling Contractors (CAODC) said that the Canadian oil and gas industry is simply too dysfunctional to anticipate any kind of quick recovery.As a result, Canadian service companies are exploring any and all options to generate positive cash flows, said CAODC President, Mark Scholz."Our members are on life support," says Scholz. "With the exception of perhaps Venezuela, Canada is the only oil and gas producing jurisdiction in the world that cannot at the very least see a recovery on the horizon. We have among the highest standards for responsible development in the world…

DEME Launches Orion

Pic: DEME

Belgian offshore vessel owner DEME has launched its next generation, giant new offshore installation vessel ‘Orion’ in a ceremony at the COSCO Qidong shipyard in China. ‘Orion’ will feature an unrivalled combination of exceptionally high transport and load capacity, impressive lifting heights and green technology.The launching marks a major milestone in the construction of this next generation vessel, which is progressing at the COSCO shipyard according to schedule. ‘Orion’ will be deployed for the construction of the largest offshore wind farms…

Big Oil Digs North Sea's 'Final Frontier'

Clair Ridge (Photo: BP)

"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea.That same rock is today the heart of BP's prized Clair field in the West of Shetland region, which this week started its second phase of production.The giant bridge-linked Clair Ridge platforms are among the projects that have given new life to this area of the North Sea, one of the oldest offshore basins, which was once predicted to run dry by the 2020s.Consultancy Wood Mackenzie predicts West of Shetland will be the only North Sea zone with growing output between now and 2025.With its deep waters…

Heerema Fabrication Group Sells UK and Netherlands Yards

Image: Heerema Fabrication Group

Dutch offshore construction and engineering company Heerema Fabrication Group (HFG) intends to divest a significant part of its activities in the field of design and fabrication of complex steel constructions for the offshore market.HFG has been struggling for some time with insufficient project volume and marginal profitability. In addition, the risks associated with building topsides are high and clients are not prepared to pay for this risk.As a result of the divestment HFG intends to dispose of its activities at the locations in Zwijndrecht (The Netherlands) and Hartlepool (United Kingdom).

Atlantic Canada Oil Spill Caused by Weak Flowline Connection

A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada's Newfoundland & Labrador, Husky Energy Inc said on Tuesday.The spill is the largest-ever off the coast of the Canadian province, the regulator Canada-Newfoundland & Labrador Offshore Petroleum Board said.Husky, the operator of the White Rose Field, detected the problem on Monday during surveys by a remotely operated underwater vehicle, company spokeswoman Colleen McConnell said.Husky did not see any further leakage and is surveying all of the underwater flowlines to verify their integrity, McConnell said.

Lomax Joins TEMS International

Nicola Lomax (Photo: TEMS International)

Aberdeen-headquartered oil and gas service company TEMS International has appointed Nicola Lomax to the newly created role of QHSE manager as it continues to expand its workforce in response to growing demand for its services.Lomax will be responsible for developing and managing the firm’s health, safety, environmental and quality systems and procedures in accordance with ISO 9001, 14001 and 45001 standards. She will support commercial and procurement activities, oversee the creation of an internal audit scheme and develop and deliver a QHSE training program for employees.Lomax brings extensive QHSE experience to the independent drilling fluid systems specialist…

Eidesvik Offshore Bags CGG Charter

Veritas Viking. Image: Eidesvik Offshore

Norway's Eidesvik Offshore said that a company in the group has entered into an agreement with a CGG subsidiary for a new contract for the source vessel Veritas Viking.The contract is 5 months firm with further options and will commence ultimo November 2018. CGG is a French-based geophysical services company providing  geological, geophysical and reservoir capabilities to customers primarily from the global oil and gas industry."Eidesvik has entered into a partnership with Vestland Management for the source scope of work on this contract and with…

Ca Tam Field to Start Production January 15

(Photo: Vietsovpetro)

Vietsovpetro, a Vietnam-Russia oil joint venture, will start crude oil production at the Ca Tam field offshore southern Vietnam from Jan. 15, three sources with knowledge of the matter said on Tuesday.Ca Tam is the first new field to be brought into production in Vietnam in years after a 2014 plunge in oil prices slashed exploration. The start-up is significant as declining production from the country's key fields has left it struggling to maintain oil and gas output.Production from Ca Tam, jointly developed by Vietsovpetro, PetroVietnam Exploration Production Corp (PVEP) and Bitexco Group…

Ultra Petroleum Appoints David Honeyfield as CFO

Map: Ultra Petroleum

Ultra Petroleum informed that David Honeyfield has been appointed to serve as CFO of the gas producer with assets in Wyoming’s Green River Basin.A press release from the energy company engaged in domestic natural gas and oil exploration, development and production said that Honeyfield has over 25 years of experience in the energy and natural resources fields with a strong background in accounting and the corporate management of public oil and gas companies.Most recently, Honeyfield served as Senior Vice President and Chief Financial Officer of PDC Energy, Inc. and Chief Financial Officer of Jonah Energy LLC.

API Enhances Offshore Safety Standard

Image by ExxonMobil

The American Petroleum Institute (API) released its newest valve standard as part of the industry’s continuous efforts to improve operational safety and environmental protection.According to a release from the agency, the “Specification 6A” governs the design and operations of the critical safety valves at wells used in the offshore and onshore oil and gas industry. The latest edition includes new automatic closure requirements, to ensure additional protection for workers and the environment in loss of power and emergency situations.Among the…

HydraWell Completes TAQA Decommissioning

Image: HydraWell

The manufacturer of specialty equipment for the oil and gas industry HydraWell has completed an offshore decommissioning project for TAQA in the Netherlands.The plugging job was conducted at one of the fields connected to the TAQA-operated P15 platform, situated approximately 35 kilometres north-west of Hoek of Holland. The dual casing Perf, Wash and Cement job was conducted from the Maersk Resolute. HydraWell’s contract value is undisclosed.To execute the project, HydraWell utilised its HydraHemeraTM Perf, Wash and Cement (PWC®) jetting system, which can install a rock-to-rock barrier in two days.

Australia’s Oil and Gas Industry Calls for Competitive Tax Regime

Image: APPEA

Changes to the petroleum resource rent tax (PRRT) announced today by the Commonwealth must be assessed carefully by Australia’s oil and gas industry, said the Australian Petroleum Production & Exploration Association (APPEA).“Attracting investment in natural gas and oil production has never been more important for Australia,” said APPEA Chief Executive Dr Malcolm Roberts.“As Australia relies on foreign investment to develop our natural resources, it is vital that we have a stable, competitive tax regime.“Investors are always concerned when long-standing tax arrangements change.