Friday, December 13, 2019

Oil And Gas Industry News

Jan De Nul orders Offshore Installation Vessel

Photo: Jan De Nul Group

Six months after the offshore installation vessel Voltaire, Jan De Nul Group orders Les Alizés, a floating installation crane vessel from the CMHI Haimen shipyard in China.Together with the Voltaire, this new vessel will be in a super-size class of its own, capable of building the newest generation of offshore wind farms. Les Alizés, that will be ready in 2022, is equipped with a crane having a lifting capacity of 5,000 tons and equally impressive lifting heights. Les Alizés will be able to load out, transport and install multiple units of the largest and heaviest wind turbine foundations.

ABB Tests Subsea Power Technology System

Image: ABB

The completion of a final 3,000-hour test phase of the Swiss-Swedish technology multinational ABB’s subsea power infrastructure signals the culmination of a $100m partnership with world oil majors.The company has officially announced the completion of shallow water test proving that its subsea power distribution and conversion technology system for the offshore oil and gas industry is commercially viable.For the first time worldwide, energy companies will be able to access a reliable supply of up to 100 megawatts of power, over distances up to 600 kilometers and down to 3,000 meters water depth, at pressures that could shatter a brick.

Oil Majors to Raise $27Bln in Selling Spree

Pic: Rystad Energy

Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing shareholders who are calling for stricter capital discipline.“The expected transactions mean some of the majors are poised to exit certain regions, giving regional players and independents a chance to buy into key fields and help keep them profitable through production-life extensions and new developments…

Allan Joins RMEC

Kai Livingston and Vic Allan (Photo: RMEC)

Oilfield services firm RMEC has appointed an oil and gas industry veteran to boost its operations as it prepares for its next stage of international growth.Vic Allan has joined the company from American multinational corporation Halliburton, where he spent 28 years working his way up through the slickline division. Most recently, he oversaw a team of 120 in the department servicing a large portfolio of clients in the UK and Europe. In this role, he was responsible for ensuring the company delivered efficient slickline operations and met challenging customer requirements.

G42, ADNOC JV for AI in Oil and Gas

Photo: G42

With a goal of creating more artificial intelligence (AI) led solutions for the oil and gas sector, Abu Dhabi National Oil Company (ADNOC)  has signed a deal with compatriot technology company Group 42 (G42) to create a new joint venture.The JV will be tasked with developing and commercializing market-leading AI products for the energy sector.The agreement was signed at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) by Omar Suwaina Al Suwaidi, Director, Executive Office Directorate, ADNOC, and Peng Xiao, CEO of G42. The signing of the agreement was witnessed by His Excellency Dr Sultan Ahmed Al Jaber…

Saipem Inks Deal with Daewoo for Onshore Projects

(Photo: Saipem)

Italy's Saipem said on Monday it signed a strategic agreement with Daewoo E&C Co. for cooperation in the onshore oil and gas industry, with a specific focus on the liquefied natural gas (LNG) sector."LNG is strategic for us and we are definitively focusing on it to consolidate our onshore E&C activities and results," said Maurizio Coratella, COO of the Saipem Onshore E&C division, in a statement.The deal will combine both companies' assets and expertise in engineering, procurement and construction of onshore facilities, the statement added.(Reporting by Giancarlo Navach, editing by Giulia Segreti)

Aramco Signs 34 EPC Contracts Worth $18bn

Saudi Aramco delivers crude oil cargo at Pengerang Deepwater Terminal 2 in Malaysia. Photo: Saudi Aramco

Saudi Aramco has signed 34 engineering, procurement and construction (EPC) related contracts (worth over US$18bn) for projects such as the Marjan and Berri field incremental development program in Saudi Arabia, during Q3 2019, according to GlobalData.The most important is ADNOC’s US$3.6bn contract for the supply of one million metric tons of casing and tubing to support exploration and production activity in United Arab Emirates (UAE).The global oil and gas industry has witnessed a substantial boost from those contracts activity in the Middle East…

U.S. Ingenuity Will Solve Climate Challenge: US DOE

AdobeStock / © xmentoys

The United States can tackle threats to the climate through technological advances as fossil fuels will remain a priority for the U.S. government and business, the assistant secretary for fossil energy said on Tuesday.The world should look to the United States' ability to reduce its emissions, the Department of Energy's Steven Winberg said at an oil conference in South Africa a day after the Trump administration formally moved to exit the Paris Agreement."We can solve any climate issue with technology development, one thing you see back in U.S.

Drilling Ban Proposals Divide Democrats

AdobeStock / © Shamtor

In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of oil rigs.The Democrats who control the state's government have lofty plans for the billions of dollars in projected tax revenues from the drilling industry in the Permian Basin, the world’s biggest oil field, starting with an overhaul of New Mexico's ailing public education system. The biggest threat to those plans, however, may be the presidential candidates from their own party.The top 10 Democratic contenders have called for ending new drilling leases on federal lands.

Offshore Wind: a Freshening Breeze?

AdobeStock_CREDIT Yauhen Suslo

July brought news about offshore wind. There was something for everyone: optimism, disappointment, and construction, too.Finally, starting with Dominion Energy’s Coastal Virginia Offshore Wind Project, a joint venture with Danish wind developer Orsted is underway. True, this is a small project – just two wind turbines to be installed 27 miles east of Virginia Beach. But considering all the preceding hurdles, news about Dominion blew in as proverbial, hopeful fresh air. Surely, additional offshore wind construction news would quickly follow; news about a full line-up of projects ready to bust through interminable studies and studies of studies.Indeed…

OP/ED: Offshore Wind

Nicolette Nye, Vice President of Communications and Member Development of the National Ocean Industries Association (NOIA) in Washington, DC.

Set to Soar, Taking Offshore Support Industry With it.Offshore energy development is opening a new front in the United States -- the Atlantic seaboard, with strong winds, a shallow continental shelf and a proximity to dense population centers is driving strong interest in offshore wind development. The offshore oil and gas supply chain stands to benefit in a big way from billions in coming investment. In fact, it is already playing a role. Companies in the Gulf of Mexico, which traditionally support the offshore oil and gas sector, helped build and install the nation’s first offshore wind project…

Oilfield Services Firms Moving Beyond Oil

Graph: Rystad Energy

Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward.In 2014, non-upstream oil and gas activities accounted for 22% of revenues among service suppliers. This share grew to 27% in 2018.According to Rystad Energy, the trend to accelerate in the next decade.“If pure-play contractors within drilling, well services and seismic – which don’t have much to offer outside the upstream oil and gas industry – are removed from the equation, activities outside of upstream accounted for nearly 30% of last year’s revenues…

Keenan Leaves Apache Corp

(File photo: Aache)

Oil and gas industry veteran Steven Keenan, who was credited with a high-profile shale discovery for Apache Corp, resigned on Wednesday from his position as senior vice president of worldwide exploration, the company said on Friday.Houston-based Apache told Reuters that Keenan's resignation is not connected to the well the company is currently drilling offshore in Suriname.

Digitalization: Oil Industry Could Save up to $100Bln

Graph: Rystad Energy

The global oil and gas industry can save as much as $100 billion through automation and digitalization in the 2020s, energy research firm Rystad Energy said."As much as $100 billion can be eliminated from E&P upstream budgets through automation and digitalization initiatives in the 2020s. Service companies are reinventing themselves to help operators unlock these savings," said the study by  Rystad.In 2018, $1 trillion was spent on operational expenditures, wells, facilities and subsea capital expenditures across more than 3,000 companies in the upstream space.

Oil Companies Push Carbon-capture Efforts

Since 1996, the Equinor-operated Sleipner field offshore Norway has been used as a carbon capture and storage facility, marking the longest ongoing CO2 storage project in the world. (Photo: Harald Pettersen / Equinor)

A group of 13 major oil companies charted out a plan on Monday to promote investments in carbon capture, use and storage (CCUS), ahead of a gathering in New York.Oil chiefs grappling with growing demand for action to fight climate change have looked to invest in carbon-capture and sequestration techniques that some executives, including Occidental Petroleum Corp CEO Vicki Hollub, say could make drilling carbon neutral.With fossil fuel development growing worldwide, the oil and gas industry faces growing criticism from activists concerned about accelerating climate impacts from melting ice caps to sea-level rise and extreme weather.

Equinor to be ‘Offshore Wind Major’

Graph: Rystad Energy

The multi-billion capital investment by Equinor at its new Dogger Bank Offshore Wind Farm will see it rival its major oil and gas projects, according to Rystad Energy."The offshore wind project Dogger Bank in the UK North Sea will not only be Equinor’s largest project through 2026, it will also rank as the sixth largest offshore development project in the world during this period," said the energy research firm.UK authorities announced on Friday that Equinor and joint venture partner SSE have been chosen to develop the world’s largest offshore wind farm…

Schlumberger CEO Outlines Digital Strategy

Schlumberger CEO Olivier Le Peuch (Photo: Schlumberger)

Schlumberger NV's newly-appointed Chief Executive Officer Olivier Le Peuch on Wednesday outlined his vision for the world's largest oilfield services company, vowing to exit unprofitable businesses, restructure some units and focus on returns.In his first public remarks since taking office in July, the 32-year company veteran also warned the company would record a sizeable, non-cash charge to write down assets in the current quarter. He did not specify the size of the writedown.Le Peuch, who replaced former CEO Paal Kibsgaard nearly two months ago…

Xodus Hires Rivers

Stephen Rivers (Photo: Xodus Group)

Energy consultancy Xodus Group said it has appointed Stephen Rivers as Subsea & Pipelines Manager for Asia-Pacific as the company targets strategic growth and new projects in the region. He will be based in in Perth, Australia.Rivers’ previous roles have included Engineering Director for Peritus International Pty Ltd and Senior Vice President for INTECSEA for Australia and New Zealand.With more than 30 years' in the oil and gas industry, Rivers commenced his career in subsea pipeline construction in the North Sea after which he moved overseas…

New App Aims to Improve Project Performance

Andy Sutherland, director at Prism Energy (Photo: Prism Energy)

An Aberdeen-based company has created a lessons learned management system that captures critical project data and helps inform the future performance of complex oil and gas developments globally.Prism Energy, which provides project and risk management applications and consultancy, has worked closely with Genesis over the past 12 months to build a bespoke solution that will assist continuous development.Track is a cloud-based system designed to improve performance by recording and analyzing lessons learned and experiences to ensure knowledge gained during the project phase is preserved.The technology…

19 Fields in Production at Norwegian Sea

Image: Norwegian Petroleum Directorate

Norwegian Sea area, which is twice the size of the North Sea, has 19 fields in production and numerous discoveries are being developed and around 350 exploration wells have been drilled over the past 40 years, said Norwegian Petroleum Directorate (NPD).In many ways, the Norwegian Sea is a miniature version of the Norwegian shelf. It consists of a deep seabed with surrounding continental shelves. "The geology in the Norwegian Sea is the reason why we believed early on that there might be oil and gas there," said NPD.“We want to generate maximum value from the resources.