Thursday, 28 May 2015

OneSubsea Awarded $330 Million Contract For Subsea Production System Offshore North Africa - 28/05/2015

OneSubsea Awarded $330 Million Contract For Subsea Production System Offshore North Africa

OneSubsea®, a Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, has been awarded a subsea production systems contract totaling more than $330 million for a gas project offshore North Africa.

The scope of supply for the 13-well development includes subsea production equipment, tooling, and installation and commissioning services. Deliveries are expected to begin Q3 2016.

"The award represents phase two of this development and is the largest award for a subsea production system within the North Africa region to date," said Cameron Chairman and Chief Executive Officer Jack Moore. "Having already supplied the first phase of this development, OneSubsea now looks forward to progressing with this second phase."

Gazprom and pipe companies to go on jointly developing and adopting innovations - 28/05/2015

Gazprom and pipe companies to go on jointly developing and adopting innovations

Alexey Miller, Chairman of the Gazprom Management Committee held another meeting on innovations in the Russian pipe industry today at the Volga Pipe Plant headquarters (city of Volzhsky, Volgograd Region).

Prior to the meeting, Gazprom's delegation got acquainted with pipe products of the Volga Pipe Plant (Pipe Metallurgical Company TMK) and visited a new concrete coating site of Pipeline Coatings and Technologies.

Gazprom and pipe companies to go on jointly developing and adopting innovations
Volga Pipe Plant.

Taking part in the meeting were Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, Oleg Aksyutin, Dmitry Lyugai, Sergey Prozorov and Vsevolod Cherepanov, Management Committee Members, as well as heads and representatives from Gazprom's specialized structural units and a number of subsidiaries, the Pipe Producers Association, United Metallurgical Company OMK, Pipe Metallurgical Company TMK, Chelyabinsk Pipe Rolling Plant, Severstal and other companies.

It was stressed that the long-standing cooperation with Gazprom allowed domestic companies considerably upgrading the pipe manufacturing segment, mastering new types of pipes, including those unparalleled globally. The work done resulted in, among other things, steady reduction in the number of imported pipes within Gazprom's procurement structure – it only accounted for 0.5 per cent in 2014.

Gazprom is committed to bringing innovations into widespread use. This line of development is reflected in updated programs for sci-tech cooperation between Gazprom and leading pipe companies. Over 60 innovative R&D and technology activities will be performed within these programs until 2021, with a focus on developing import substituting products.

By that time it is planned to set up the production of large-diameter pipes from X100-X120 steels for extra-high pressure gas pipelines, new generation threaded pipes designed for extremely harsh oil & gas field development conditions as well as pipes for offshore production. In addition, the pipe companies will launch the production of various shut-off valves and well equipment for import substitution.

The meeting participants also addressed the issue of applying formula-based pricing for pipe products. A three-year experience of using this mechanism has proven its efficiency – market players obtained a high predictability of estimations. In addition, the work on improving the formulas and adapting them to the current market conditions should continue.

At the end of the meeting, tasks were given with the aim of advancing the fruitful cooperation with the Russian pipe manufacturing industry in order to supply Gazprom's promising projects with new types of pipe products.

In addition, today a cooperation agreement was signed between the Technical Committee for Standardization TC 23 “Oil and gas Industry” and TC 357 “Steel and Cast Iron Pipes and Cylinders”. The agreement provides for further interaction (has been on since 2008) with a view to improve the quality of national and interstate standards under development. The document was inked by the Committees' Heads – Vitaly Markelov and Sergey Chikalov, Deputy Director General for Industrial Marketing and Innovations of Pipe Metallurgical Company TMK.

As Alexey Miller pointed out at the end of the meeting, “the results obtained during ten years of the joint work between Gazprom and metallurgists are mutually advantageous; it allowed bringing Russian pipe manufacturing companies to the cutting edge, while Gazprom could implement ultramodern projects such as, for example, the Bovanenkovo – Ukhta gas pipeline surpassing its global counterparts.”

Drilling permit for well 16/1-22 A in production licence 001 B - 28/05/2015

Drilling permit for well 16/1-22 A in production licence 001 B

The Norwegian Petroleum Directorate has granted Det norske oljeselskap AS a drilling permit for well 16/1-22 A, cf. Section 8 of the Resource Management Regulations.
Well 16/1-22 A will be drilled from the Maersk Interceptor drilling facility in position 58°54’23.1’’ north and 02°09’43.2’’ east in production licence 001 B, after completing drilling of appraisal well 16/1-22 S.

The drilling programme for well 16/1-22 A relates to the drilling of an appraisal well on the Ivar Aasen field, where Det norske is the operator with an ownership interest of 34.7862 per cent. The other licensees are Statoil Petroleum AS (41.4730 per cent), Bayerngas Norge AS (12.3173 per cent), Wintershall Norge AS (6.4615 per cent), VNG Norge AS (3.0230 per cent), Lundin Norway AS (1.3850 per cent) and OMV (Norge) AS (0.5540 per cent).

The area in this licence is part of block 16/1. The well will be drilled in the south-western part of the Ivar Aasen field in the central part of the North Sea.

Production licence 001 B was carved out on 1 September 1999 from production licence 001, which was awarded on 1 September 1965 (Licensing Round 1-A). This is the eighth exploration well to be drilled within the licence area, and the tenth on the Ivar Aasen field.

The permit is conditional upon the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.

Wednesday, 27 May 2015

More oil than ten years ago - 27/05/2015

More oil than ten years ago

The current recoverable volume of oil in fields and discoveries exceeds the estimated figure in 2005, and it is also presumed that more oil remains to be discovered.
This is the result of the Norwegian Petroleum Directorate’s (NPD’s) review of the resource basis in a select number of fields and discoveries on the Norwegian shelf between 2005 and 2014.

“A lot of good work has been done to increase the resources on the Norwegian shelf, and there has been substantial resource growth in many fields,” says Kirsti Veggeland, Assistant Director General for shelf analysis in the NPD.

“The most important reasons for this are more wells, extended field lifetimes and improved knowledge. Decisions were also made to develop new deposits in the fields over the ten-year period.”

The background for the review is the NPD’s ambitious goals from 2005, to achieve an oil reserve growth of 800 million Sm3 or five billion barrels over ten years. Now that the figures are in, the reserve growth turned out to be somewhat less, but the goal would have been reached with flying colours if the development plan for Johan Sverdrup had been submitted before the end of 2014.

In addition to producing fields, the NPD has reviewed 62 discoveries for which development decisions had not been made in 2005. Over the course of this ten-year period, 28 of them have been developed, and their oil reserves have nearly doubled. This is due to new information, better reservoir understanding and optimisation of development solutions and drainage strategies.

Discoveries made after 2004 have also led to development decisions for 13 new fields, which have contributed an overall resource growth totalling 80 million standard cubic metres (Sm3) of oil. The Edvard Grieg, Ivar Aasen and Knarr fields account for more than 75 per cent of this volume.

Kirsti Veggeland, Photo: Emil Ashly“The NPD had hoped that improved recovery measures would account for a greater share of the growth in oil reserves. However, many new opportunities to improve recovery have been identified, and the potential is greater in 2015 than it was ten years ago,” says Veggeland.

Tuesday, 26 May 2015

Oxand Interview: Wells Risk Management - 26/05/2015

Oxand Interview: Wells Risk Management 

‘Carrying out inspections and interventions can prove quite costly especially in the current market’ says Ali Mirza, Oxand Group’s lead consultant engineer.

In a two page exclusive, DecomWorld interviewed Ali to understand the industry’s need for implementing a risk based inspection/intervention strategy to ensure safety and cost effectiveness.

Check out the full article here to develop a robust risk management strategy: http://bit.ly/1FB8Jx9

The interview will help you :
•    Learn of Oxand’s Well Integrity Risk Assessment Process (WIRAP) for ageing wells to ensure safety and make risk informed operational decisions
•    Understand risk-based approach and use different techniques, such as Functional Analysis and Fault Tree Analysis, to thoroughly assess the risks to your wells
•    Identify critical components and failure scenarios to prioritise and optimise inspection/intervention plans

Experts at Offshore Production Efficiency Workshop to help delegates maximize their production potential - 26/05/2015

Experts at Offshore Production Efficiency Workshop to help delegates maximize their production potential

More than 50 wells, reservoir, facilities and interventions experts will gather in Houston, Texas, on 17 June for the Offshore Production Efficiency Workshop, to identify and quantify new production optimization opportunities for wells, reservoirs and facilities.

This will provide the ideal opportunity for delegates to engage with other members of the production community to solve efficiency challenges through stimulating presentations, panels and interactive round table sessions.

A new interactive conference format that will see multi-discipline experts facilitate round table strategy discussions means you can present your production challenges and formulate robust production efficiency solutions.

“These sessions are a fantastic opportunity for attendees to assimilate information from the day's presentations, discuss their challenges and come up with proper solutions to be shared with peers in the room,” says Kerr Jeferies, Senior Industry Analyst ay Upstream Intelligence.

An added bonus are the additional networking opportunities that have been created by holding three meetings at a single venue. (The other two are the Well Integrity and Lifecycle Management Conference & the Data-Driven Production optimization Workshop).
Through dedicated networking sessions and an exhibition, delegates will have access to more than 200 well integrity, production and data specialists.

What’s on the agenda for the day? Identifying New Production Efficiency Opportunities; Quantifying your Production Efficiency Goals; Selecting the Best Interventions to Optimize Production and Executing your Production Efficiency Plan and Getting More Barrels for Less.

“Renowned industry experts will demonstrate how dedicated, integrated multidiscipline teams can drastically improve production economics.

“Armed with defined optimization techniques and strategies you are guaranteed to reduce your unit-cost and see a substantial production increase,” explains Kerr.

Penspen Appoints New EVP Asset Management & Asset Integrity and Regional Director of the Americas - 26/05/2015

Penspen Appoints New EVP Asset Management & Asset Integrity and Regional Director of the Americas

Penspen, a leading global provider of engineering and management services to the energy industry, has strengthened its Houston team with the appointment of Carl Mook as the new EVP Asset Management and Asset Integrity and Regional Director of the Americas.

In his new EVP role, Carl will be responsible for growing Penspen’s asset management and integrity businesses across all global regions. In addition to these responsibilities, in his new role as Regional Director, Americas, he will be tasked with managing Penspen’s six offices across North and South America and accelerating the growth of the company’s Americas business to represent 30 per cent of its total revenue.

Carl commented on his appointment, “Penspen has been an established name in the pipeline, engineering and asset integrity business for more than 60 years, and it’s a privilege to join such a prestigious, long-serving company with ambitious growth plans. I look forward to contributing to this success by developing a more integrated client offering, providing our customers an enhanced understanding of their asset integrity and operational needs, all aimed to enhance the efficiency and effectiveness of their operating assets throughout their entire lifecycle.”

Carl joins Penspen from a senior role in Baker Hughes where he was VP and General Manager of Process and Pipeline Services. Previously, he worked for BJ Services in a variety of senior management roles across the UK, Europe, Middle East and Asia Pacific.

Peter O’Sullivan, Chief Executive of Penspen said, “As our asset management and integrity businesses continue to grow, we are pleased to welcome Carl to the team and confident he will be extremely valuable in expanding our global business. With more than 25 years of industry experience, Carl brings deep technical expertise in pipeline and production operations across the US and beyond. His strong track record in growing new services, will serve him well in building relationships with new and existing clients, so contributing to our ambitious growth plans across the Americas, Europe and Africa, the Middle East and Asia Pacific.”

FIFTH RING COMES OUT TOP AT INTERNATIONAL AWARDS - 26/05/2015

FIFTH RING COMES OUT TOP AT INTERNATIONAL AWARDS

Fifth Ring, global energy marketing communications specialists, is celebrating following a number of international award wins. The agency was recognised at the Hermes Creative, BMA B2 and Global ACE awards bringing the total tally so far for 2015 to eleven.

The agency emerged triumphant at the Hermes Creative awards winning four platinum honours for corporate website; marketing video; annual report and internal communications campaign. The company also struck gold in four categories where it was recognised for company branding; publication article; business to business website and trade show exhibit.

The BMA B2 awards saw Fifth Ring up against 875 companies across the world but the agency was successful for its work with Aberdeen Harbour Board’s annual report and website design for data management and visualization solutions provider Perigon.

Fifth Ring carried out a complete website re-development for Perigon using the client’s own software to fully immerse in the world of data analysis. By integrating the visual style and messaging into the new website, the client saw a substantial increase in both visits and time spent on pages.

The agency also celebrated after winning a Global ACE Award for its work on Aberdeen Harbour Board’s annual report. The creative team proposed a redesign of the report to reflect a magazine/brochure and be shown as not just a financial statement, but marketing collateral. Fifth Ring combined fresh content that was visually appealing including modern infographics, typography and stunning photography to create the overall look of the new report.

Ian Ord, business development director commented: “We are thrilled with our number of award wins this year, and it is a testament to the hard work and talent of our teams. The awards come at an exciting time for the company as our offices in Houston and Singapore look to expand and these accolades highlight Fifth Ring’s integrated approach is successful in the global market.

The award wins come on the back of the agency being named as one of Houston’s best and brightest places to work in 2015.

Thursday, 21 May 2015

Global Automotive Industry Supplier Requests MagneGas® - 21/05/2015

Global Automotive Industry Supplier Requests MagneGas®

Major Producer of Painting Systems for Automotive and Aerospace Industries, Views Demo, Requests MagneGas2®

MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, announced today that a major producer of painting systems, viewed a MagneGas2® demo and has requested an immediate supply of the fuel for metal cutting.

The demo was viewed by company officials on May 19, who indicated they were impressed with the speed and quality of the cut and immediately requested a supply of the fuel.  The company has locations in the U.S. and Mexico and produces large paint booths and other ancillary systems for the automotive and aerospace manufacturing industries.  The gas will initially be supplied to their location in Michigan.    

"We continue to be amazed at the number of companies that have contacted us for MagneGas2 demonstrations.  Each company has indicated they are impressed with the quality and speed of our cut and the safety features of the fuel. In the industrial gas business, everything starts with the first order, particularly with a new innovative product such ours. We are confident that this will provide a significant foundation for expansion opportunities," commented Ermanno Santilli, CEO of MagneGas Corporation.

Significant New Maintenance Contract for NGN - 21/05/2015

Significant New Maintenance Contract for NGN

The north of England’s gas distributor, Northern Gas Networks (NGN) has signed a major new contract with Penspen to cover all mechanical maintenance work required across the network.

As of early May 2015,  engineering and project management specialist Penspen will take responsibility for maintaining a wide range of mechanical equipment on behalf of NGN, from gas off-take equipment to district governors as part of the three year contract.

This new partnership is a significant move for NGN as it marks the first time that a gas distributor in the UK has outsourced all of its mechanical maintenance requirements.

Tim Harwood, head of major projects and maintenance at NGN, said: “Penspen has been appointed after a long and thorough tender process. As experts in the maintenance of pipelines and associated plant equipment they have a strong combination of technical and commercial acumen, with highly skilled employees, supported by the company’s own in-house training school.

“This is an exciting move for our business, as we continue to modernise and work in a smarter and more efficient way. Other gas distribution networks will certainly be taking notes, and we could see this model adopted in other parts of the UK in the coming years.”

As part of the new arrangement, a number of highly skilled NGN employees who currently work in mechanical maintenance positions will transfer to Penspen to carry out the same job roles but under new employers. To assist with the transition, Penspen has provided new vehicles and IT to prepare the transferring staff for their new challenge.

Explaining the move, Tim said: “Penspen colleagues will become an extension of our team in the coming months as our NGN colleagues move to their new employers. Existing Penspen staff will be working with transferring staff to make new teams; it will be a seamless transition with business as usual the main focus.

“It is an interesting time to be head of maintenance, working with great teams both within NGN and with Penspen.”

NGN will retain maintenance supervisory and managerial staff who will be ensuring safety standards, technical compliance and quality control is met.

Peter O’Sullivan, Chief Executive of Penspen, said: “This is the first time one of the major gas distributors for the UK has outsourced its maintenance work to one company and we are delighted that Northern Gas Networks has chosen Penspen. We have a dedicated training facility with the capability to train technicians in high pressure gas maintenance services and this is one of the reasons we have been selected for the substantial project.”

NGN delivers gas to 2.7 million homes and businesses across the North of England and provides the region’s rapid response service for customers who smell gas at home or work.

ExxonMobil Announces Significant Oil Discovery Offshore Guyana - 21/05/2015

ExxonMobil Announces Significant Oil Discovery Offshore Guyana

Liza-1 well encounters more than 295 feet of high-quality oil-bearing sandstone reservoirs
Well is first on 6.6-million acre Stabroek Block and drilled to 17,825 feet

Exxon Mobil Corporation (NYSE:XOM) today announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana.

The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., and encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet (5,433 meters) in 5,719 feet (1,743 meters) of water. Stabroek Block is 6.6 million acres (26,800 square kilometers).

“I am encouraged by the results of the first well on the Stabroek Block,” said Stephen M. Greenlee, president of ExxonMobil Exploration Company. “Over the coming months we will work to determine the commercial viability of the discovered resource, as well as evaluate other resource potential on the block.”

The well was spud on March 5, 2015. The well data will be analyzed in the coming months to better determine the full resource potential.

Esso Exploration and Production Guyana Ltd. holds 45 percent interest. Hess Guyana Exploration Limited holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

EXPRO WINS THE RoSPA PRESIDENT’S AWARD 2015 - 21/05/2015

EXPRO WINS THE RoSPA PRESIDENT’S AWARD 2015

Leading international oilfield services company, Expro, has won the President’s Award, following 11 consecutive Gold Awards, in the RoSPA (Royal Society for the Prevention of Accidents) Occupational Health and Safety Awards 2015.

Expro has received recurrent recognition from RoSPA, having been presented with the President’s Award in 2014, Scotland Trophy in 2013, and a coveted Gold Medal in 2010.

The award recognises Expro’s commitment to continuous improvement in health and safety across the business. Through the scheme, judges consider entrants’ overarching occupational health and safety management systems, including practices such as leadership and workforce involvement.

David Ford, Expro’s Group HSEQ Manager, commented: “Expro is proud to have been selected for the President’s Award once again, following many years of safety success with RoSPA. We are fully committed to the continual improvement of our health and safety management processes, with our employees fully embracing our ‘champion safety’ culture in all aspects of their work.

“The RoSPA Safety Awards are an internationally recognised, and much respected, awards scheme, and receiving this recognition demonstrates that safety is at the forefront of everything we do at Expro.” 

David Rawlins, RoSPA’s Awards Manager, added: “The RoSPA Awards encourage improvement in occupational health and safety management. Organisations that gain recognition for their health and safety management systems, such as Expro, contribute to raising standards overall and we congratulate them.”

The RoSPA awards are graded at merit, bronze and silver level, and organisations that maintain high standards in consecutive years can win Gold Medals, President’s Awards and orders of distinction.

Gazprom adds over 800 billion cubic meters of gas in 2014 through geological exploration activities - 21/05/2015

Gazprom adds over 800 billion cubic meters of gas in 2014 through geological exploration activities

On the threshold of Gazprom’s annual General Shareholders Meeting the Company’s headquarters hosted today Press Conference “Mineral and Raw Material Base Development. Gas Production. Gas Transmission System Development”. Taking part in the Press Conference were Vitaly Markelov, Deputy Chairman of the Management Committee, Gazprom; Members of the Gazprom Management Committee: Oleg Aksyutin, Dmitry Lyugai, Sergey Prozorov and Vsevolod Cherepanov.

It was pointed out at the Press Conference that Gazprom owned an extensive resource base. As of December 31, 2014 Gazprom’s A+B+C1 explored natural gas reserves (Russian classification) amounted to 36.07 trillion cubic meters representing 72 per cent of the Russian or nearly 17 per cent of the global reserves.

The Company consistently and successfully develops its resource base. In particular, in 2014 the gas reserves replenishment level totaled 822.5 billion cubic meters and the gas replenishment to extraction ratio stood at 1.86.

These efforts will be continued in 2015 with a focus on the operations in the Russian continental shelf. It is planned to perform 3D seismic surveys of about ten thousand square kilometers in the Barents and Kara Seas as well as to drill two exploratory wells in the Yuzhno-Kirinskoye field in the Sea of Okhotsk.

Last year Gazprom produced 443.9 billion cubic meters of gas. In 2015 gas production is expected to reach 450 billion cubic meters. All in all, the Company’s production potential exceeds 600 billion cubic meters of gas a year.

Gazprom advances the gas transmission system (GTS) in Russia. Last year the GTS was extended from 168.9 to 170.7 thousand kilometers.

The Company continues constructing strategic gas pipelines. 16 linear sections with the total length of 696.48 kilometers came onstream in 2014 as part of constructing the second string of the Bovanenkovo – Ukhta gas trunkline system. In addition, 472 kilometers of the linear section were built and made available for gas transmission within Phase 1 of the Southern Corridor project (western route, the Pisarevka – Anapa section). Presently about 15 kilometers of the Power of Siberia gas trunkline has been welded at the section from the Chayandinskoye field to Lensk.

In 2014 Gazprom was actively expanding its underground gas storage (UGS) capacities in Russia. Their potential deliverability by the 2014/2015 autumn-winter period was boosted to the record level: the maximum daily deliverability by the beginning of a withdrawal season was increased to 770.4 million cubic meters of gas, which is 42.6 million cubic meters more than in 2013/2014.

The Press Conference also addressed other issues of the Company’s operating activities.

ADIPEC 2015 Focuses on Innovation as Energy Industry Looks to Meet Growing Global Demand - 21/05/2015

ADIPEC 2015 Focuses on Innovation as Energy Industry Looks to Meet Growing Global Demand

Energy Sector Needs to Invest in Sustainability and Innovation to Meet 37 Percent Higher Global Demand Anticipated by 2040

World’s Landmark Oil and Gas Event Announces New Dedicated 
Offshore & Marine Exhibition and Conference

The Middle East’s energy industry needs to invest in innovation and sustainability initiatives to meet increased global demand, according to industry experts attending this year’s Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC). 

Global energy demand will be 37 percent higher by 2040, according to the International Energy Agency’s World Energy Outlook. With the Middle East expected to become the major source of oil supply growth, investment in cutting-edge innovation and technology will help the region’s energy industry meet growing needs. 

“Innovation and Sustainability in a New Energy World” forms the theme of ADIPEC 2015, where global experts, industry decision-makers, and senior government executives will come together to address how innovation in products, services, and processes will deliver safe, reliable energy solutions and achieve economic, social and environmental sustainability targets. 

Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, hosted by the Abu Dhabi National Oil Company (ADNOC), organised by dmg events, and supported by the UAE Ministry of Energy and the Abu Dhabi Chamber, the 18th edition of ADIPEC will take place from 9 to 12 November 2015 at the Abu Dhabi National Exhibition Centre (ADNEC).

More than 2,000 exhibitors, 85,000 visitors, and 7,000 delegates are expected to attend this year’s event, surpassing ADIPEC’s record 2014 numbers.

Mr Ali Khalifa Al Shamsi, ADIPEC 2015 Chairman, and Strategy & Coordination Director at ADNOC, said: “Innovation is a continuous process, and ADIPEC 2015 is the best place to see the latest innovations in the hydrocarbon industry, both regionally and worldwide. In line with the announcement from our visionary UAE leadership that 2015 will be marked as the ‘Year of Innovation’, ADNOC and its companies are focused on innovation across all its projects.”

“ADIPEC provides a perfect platform for collaborating, sharing and partnering as we maximise our joint resources and expertise. The event continues to raise Abu Dhabi’s profile as a global knowledge hub for the energy sector,” Mr Al Shamsi added. 

ADNOC, the show’s main sponsor, is one of the largest oil production companies in the world, producing more than 2.7 million barrels of oil a day. The company is committed to adopting the best safety and sustainability standards in all its practices. 

According to the Organization of Petroleum Exporting Countries, global daily demand for oil will rise from around 91 million barrels a day in 2014 to 111 million barrels a day by 2040. 

Major National and International Oil Companies have once again confirmed their participation in ADIPEC this year, including the Bahrain Petroleum Company, the China National Petroleum Corporation, the Korea National Oil Corporation, the Kuwait Oil Company, Qatar Petroleum, Saudi Aramco, as well as BP, ExxonMobil, the Japan Oil Development Co., Ltd., Oxy, Partex Oil and Gas, Shell, Statoil, and Total. 

Oil field service giants Schlumberger and Weatherford are also regulars at ADIPEC.

New Offshore & Marine Section
Following strong demand, ADIPEC 2015 will feature the launch of the Offshore & Marine exhibition area, allowing companies to showcase products, services and solutions for the maritime and offshore industry in an actual marine environment.

Located in a purpose-built zone on the waterfront at ADNEC, the new exhibition area will be complemented by a dedicated Offshore & Marine Conference, running across all four days of ADIPEC 2015, and providing additional opportunities for knowledge exchange.

ADIPEC 2015 will also extend the exhibition show floor to include an additional hall and an outdoor zone dedicated to heavy machinery, located directly on the marine front of ADNEC. 

“ADIPEC has now firmly established itself as one of the world’s top three energy events and continues to attract more national and international oil companies and service companies than any other event in the world,” said Christopher Hudson, Senior Vice President, Energy at dmg events. “We are delighted to add the Offshore & Marine Exhibition and Conference to the event, and welcome back features such as the globally renowned ADIPEC Awards and the Middle East Petroleum Club to make ADIPEC 2015 more successful than ever.” 

Building on Success
ADIPEC 2015 is expected to surpass the success of last year’s record event, which drew more than 76,000 visitors, and generated USD 8.5 billion of on-site business, up from USD 5 billion in 2013. 

ADIPEC 2015 is again providing one of the world’s largest-scale conference programmes, organised by the Society of Petroleum Engineers, with topics and sub-topics covering both technical and non-technical functions in the oil and gas industry. Conference panel sessions will take place on each and every day of the event. 

The ADIPEC Conference Programme brings together government ministers, CEOs of the world’s oil and gas giants, and industry experts to address the current state and future opportunities for the energy sector. Nearly half of the conference content in 2014 was generated outside the Middle East, cementing ADIPEC’s position as a global hub for the energy sector.

Also returning to ADIPEC 2015 will be the ADIPEC Awards, which celebrate innovation, best practice, and excellence in energy for people, companies, projects and initiatives in the oil and gas industry across the Middle East and North African region. The ADIPEC Awards are currently open for nominations, and the deadline is 30 July 2015. Winners of the prestigious awards will be announced on ADIPEC’s opening night.

The definitive club for senior oil and gas executives, the Middle East Petroleum Club (MEPC) provides a secure and private environment for key decision-makers to engage with peers, contacts and colleagues, and forge new connections. The 2015 MEPC VIP programme will allow members to attend a series of interviews, briefings and panel discussions in a purpose-built theatre. 

Challenging the perception that the oil and gas industry is a male-dominated environment, the official ADIPEC Women in Industry series will give attendees the opportunity of meeting with peers and discussing the future role of women in the energy arena, with an industry topical panel discussion and lunch on Monday, 28 September, and a full day gathering on Sunday, 8 November. 

Now entering its third year, Young ADIPEC, the hugely successful programme designed to engage the younger generation in the oil and gas industry, is expanding its reach with the creation of a Young Ambassador for each school that takes part in the programme. The programme will also feature interactive engagement sessions to help students learn more about the energy sector and develop key skills. 

Tuesday, 19 May 2015

$35 Billion Energy Company Requests MagneGas® Demo - 19/05/2015

$35 Billion Energy Company Requests MagneGas® Demo

Second Top 10 U.S. Utility Company Meets with MagneGas Management, Schedules Formal Demo and Testing

MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, announced today that it successfully completed a MagneGas2® presentation to a second top ten utility company in the United States.  Formal demonstration and testing has been scheduled for June.  In February, MagneGas2® was accepted by one of the nation's top 5 utilities as a replacement for acetylene because of its improved productivity and safety features.

Officials for the company viewed a MagneGas presentation and indicated an interest in MagneGas® productivity and safety features.  A formal demonstration and testing is scheduled for June, during which time the utility company indicated they would invite other local utility companies in the area to attend.  They specified that they were interested in using MagneGas® for repairs and demolition projects.

"We continue to have major industry leaders contact us to learn about MagneGas.  The industrial gas market is clearly open to innovative, disruptive products that can positively impact our environment and the workplace.  MagneGas2 is one of those new products that is expanding our market share with the growing demand and recognition for our products.  We are excited at the enormity of these opportunities presented to us in just the last 30 days. Our commitment for our shareholders is to continue to establish MagneGas as the standard for safety and usability," stated Ermanno Santilli, CEO Magnegas Corporation.

FROG MAKES DEBUT IN MEXICAN WATERS - 19/05/2015

FROG MAKES DEBUT IN MEXICAN WATERS

Shortly after Reflex Marine was granted certification by the Mexican Merchant Marines to sell their personnel transfer device in Mexico, the first unit is now operational in the region. The Mexican Merchant Marines have final authorisation over all equipment operating in Mexican waters.

Reflex Marine is a global leader in safe personnel transfer solutions in the oil and gas industry, with a leading range of transfer devices that ensure crew are transferred safely and efficiently to and from offshore installations.

The six person transfer device, the FROG-6, was purchased by Olympic Shipping AS, an offshore shipping company, located in Fosnavaag, Norway, for use on their accommodation vessel, the MPSV Olympic Triton. The FROG-6 is being used to transfer Triton’s crew to and from other crew boats and supply vessels working on the Cantarell oil field in the Gulf of Mexico.

Olympic Triton’s Captain Martin Eysturdal, who has been using the FROG since the beginning of February 2015, said: “As the master of the vessel, my concern will always be the safety of my crew. I am confident that every operation is performed safely and efficiently, knowing that we have a device that I can rely on 100 percent. The general feedback I have received from our employees, and other personnel that have been transferred using the FROG, has been very positive - especially the feeling of comfort and safety during the transfer.”

Reflex Marine’s regional partner is GINEMEX, who have over twenty-five years of experience in mechanical repairs and maintenance of offshore equipment, such as cranes, winches and pumps. The two companies have been working very closely in order to ensure that Olympic Shipping AS receive any support they need to integrate the FROG into their operations.

The FROG-6 provides extensive protection from the four key risks of transfer including falling, collision, heavy landings and immersion. The buoyancy panels provide self-righting and floatation in the unlikely event of immersion in water. These panels are coupled with a stainless steel frame, shielding passengers from side impacts, whilst the polymer foam shock absorbing landing feet help to reduce vertical impacts. The FROG-6 seats are also mounted on coil springs combined with gas dampers to protect passengers from heavy landings. The device has quick release three-point harnesses that enhance passenger safety, comfort, exit and offer additional protection from falling. Secondary backup lifting assembly is provided in the case of lifting redundancy. The FROG-6 also has a MedEvac capability allowing the device to accommodate a stretcher for moving casualties safely.

Following the energy bill that was passed in Mexico in December 2013, international companies now have access to deep-water oil and gas supplies in Mexican waters, previously only allowed for the state owned oil and gas company, PEMEX. As a result the potential for the introduction of the FROG-6 has expanded and it can now be used on all vessels operating in Mexican waters. Reflex Marine is now determined to increase safety standards in the region.

Rebecca Loto, Reflex Marine Sales Manager for Mexico said: “The first FROG-6 being sold into Mexico is a huge achievement for both Reflex Marine and GINEMEX. I am confident that whoever buys a FROG-6 will experience and value the superior safety benefits that the FROG-6 offers over a rope basket alternative. This is an exciting time for us and we are looking forward to seeing both Mexican and foreign companies using the FROG-6 to provide safe transfers for their crew.”

Monday, 18 May 2015

5 Key Ways Digital Oilfield Technology is Crucial to Recovery - 18/05/2015

5 Key Ways Digital Oilfield Technology is Crucial to Recovery

Oil and gas operators like Hess, ConocoPhillips and Anadarko are increasingly turning to digital oilfield technology as being the key to weathering the current oil price environment and allowing them to emerge with more efficient, streamlined operations.

BP recently announced at OTC that using big data could help the organization pump another 85,600 barrels.

50% of oil and gas companies will have advanced analytics capabilities in place by 2016. As GE recently outline at OTC – Big Data could help oil companies pump 80 billion more barrels of oil around the world – that’s a lot of oil currently being missed!

Here are 5 Key Ways that operators are looking to harness big data and the digital oilfield to maximize their production and have safe, efficient operations.

1) Reliability and Maintenance- effectively monitoring the condition of equipment mean operators are increasingly able to predict when it likely to fail, leading to more efficient maintenance scheduling and less unplanned shutdowns. BP claimed that using big data to monitor the health of its production equipment could cut down on unplanned downtime and boost output by 10 percent, resulting in 214,000 extra barrels of oil per year.

2) Production Optimization- real-time production surveillance provides engineers with an understanding of how the field is performing. Automation in onshore means operators are able to view the entire field allowing them to make short-term changes which optimize the flow of oil from the reservoir.

3) Field development- Reservoir surveillance allows reservoir engineers to understand the behaviour of the reservoir as well as modelling certain scenarios using simulation software. This allows them to create long-term forecasting and to plan the placement of future wells or plan effective IOR and EOR strategies.

4) Collaboration - Real-time operations centres can allow effective collaboration between separate disciplines. Traditional engineering silos are broken down by allowing reservoir, production, completions and operations engineers are able to sit side by side and share their expertize, allowing more holistic life of field management. This is also facilitated by collaboration and knowledge management software, which can centralize and store all data and information relating to the field, meaning the right people have access to it at all times and are able to view a complete history of the life of the field.

5) Safety - mostly importantly of all, the digital oilfield can drastically improve safety in oil fields. By monitoring equipment in real-time, operators can be alerted in advance when a leak or event which may compromise the integrity of an asset is likely to occur and allow them to take action to prevent it. In the case of offshore production, real-time operations centres can reduce the headcount of staff needed on the rig, allowing them to monitor production from onshore.

To draw these key areas together, Upstream Intelligence is hosting the Data Driven Production Optimization Conference (June 16-17, Houston). Production engineers, reservoir engineers, IT and data management will gather to unite each of these 5 aspects to optimize production.

The program will feature digital oilfield best practices from operators currently leading the way in improving their operations including ConocoPhillips, Hess, Anadarko and BHP Billiton.

PREPARE FOR GROWTH, OIL INDUSTRY TOLD - 18/05/2015

PREPARE FOR GROWTH, OIL INDUSTRY TOLD

The North Sea oil and gas industry has been urged to buck the trend and prepare for growth in the near future.

Attendees at an event organised by subsea intervention and commercial diving specialists K.D. Marine in Aberdeen recently, heard an upswing in oil price was imminent and, rather than laying people off, companies should be gearing up for increased activity.

Host and K.D. Marine managing director Hamish Petersen was joined by several other prominent leaders from across the UK oil and gas industry, representing operator and service companies, to consider how best to survive and prosper in the current challenging economic climate.

One delegate showed a graph projecting North Sea oil production rising from 2016 onwards as a number of new fields came on stream.

All agreed it was essential to maximise current downtime by keeping up inspection repair and maintenance (IRM) programmes, so the industry would be ready to grasp opportunities from increased activity.

However, attendees heard that some IRM work had already been shelved as part of cost cutting, which was criticised as short sighted and foolhardy, and work was often not planned out properly.

One said the North Sea had become “fat and lazy” with some young engineers being fast tracked ahead of their experience. He described the current lack of experience in the industry as “frightening”.

Another claimed the engineering capabilities in Aberdeen had become so limited that they had transferred operations to Newcastle, Liverpool, Norwich and London, citing higher capabilities and lower costs as the main drivers.

“Engineering costs here have increased in some cases up to five-fold, yet some of the engineers we are using now simply aren’t fit for purpose. There is a big knowledge gap,” one said.

“There are some that are being hired into the industry now who in reality don’t know one end of a spanner from the other.”

Participants agreed that this was an issue the industry had created for itself through a combination of poor on-job supervision, a lack of continued training and assessment, a flawed recruitment process and accelerated promotion without enough experience to merit it.

Another major operator agreed: “Supervision is essential, and we need to get these engineers and those working in the supply chain in particular, practical, hands on experience. It’s not the individuals fault or responsibility – we have failed them.”

Everyone accepted the importance of robust health and safety policies and industry standards, but concerns were expressed that over regulation and ever changing policies hindered best practice, rather than helping it.

Attendees also supported ‘three on, three off’ rotation for offshore staff, which they saw as a significant cost saving over the traditional ‘two and two’ through reductions in helicopter flights, more continuity in terms of time spent on the job, and less travel time.

Reacting to the discussions, Mr Petersen said: “It was impressive to hear some of those within very senior roles, who know the industry inside out, debating the key issues that they deal with on a regular basis.

“As well as oil price, the need for effective planning and strong concerns over the depth of the engineering talent pool, we also explored the merits of the three weeks on three weeks off rota system for offshore workers and the challenges between service companies and operators. All these items are of great importance, and I would like to revisit them again in six months time to see what changes have been implemented.

“We are not going to solve the North Sea’s problems overnight, but it’s clear that those within the industry need to work a lot smarter to make sure we have a future.”

ADIPEC 2015 Focuses on Innovation as Energy Industry Looks to Meet Growing Global Demand - 18/05/2015

ADIPEC 2015 Focuses on Innovation as Energy Industry Looks to Meet Growing Global Demand

Energy Sector Needs to Invest in Sustainability and Innovation to Meet 37 Percent Higher Global Demand Anticipated by 2040

World’s Landmark Oil and Gas Event Announces New Dedicated 
Offshore & Marine Exhibition and Conference

The Middle East’s energy industry needs to invest in innovation and sustainability initiatives to meet increased global demand, according to industry experts attending this year’s Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC). 

Global energy demand will be 37 percent higher by 2040, according to the International Energy Agency’s World Energy Outlook. With the Middle East expected to become the major source of oil supply growth, investment in cutting-edge innovation and technology will help the region’s energy industry meet growing needs. 

“Innovation and Sustainability in a New Energy World” forms the theme of ADIPEC 2015, where global experts, industry decision-makers, and senior government executives will come together to address how innovation in products, services, and processes will deliver safe, reliable energy solutions and achieve economic, social and environmental sustainability targets. 

Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, hosted by the Abu Dhabi National Oil Company (ADNOC), organised by dmg events, and supported by the UAE Ministry of Energy and the Abu Dhabi Chamber, the 18th edition of ADIPEC will take place from 9 to 12 November 2015 at the Abu Dhabi National Exhibition Centre (ADNEC).

More than 2,000 exhibitors, 85,000 visitors, and 7,000 delegates are expected to attend this year’s event, surpassing ADIPEC’s record 2014 numbers.

Mr Ali Khalifa Al Shamsi, ADIPEC 2015 Chairman, and Strategy & Coordination Director at ADNOC, said: “Innovation is a continuous process, and ADIPEC 2015 is the best place to see the latest innovations in the hydrocarbon industry, both regionally and worldwide. In line with the announcement from our visionary UAE leadership that 2015 will be marked as the ‘Year of Innovation’, ADNOC and its companies are focused on innovation across all its projects.”

“ADIPEC provides a perfect platform for collaborating, sharing and partnering as we maximise our joint resources and expertise. The event continues to raise Abu Dhabi’s profile as a global knowledge hub for the energy sector,” Mr Al Shamsi added. 

ADNOC, the show’s main sponsor, is one of the largest oil production companies in the world, producing more than 2.7 million barrels of oil a day. The company is committed to adopting the best safety and sustainability standards in all its practices. 

According to the Organization of Petroleum Exporting Countries, global daily demand for oil will rise from around 91 million barrels a day in 2014 to 111 million barrels a day by 2040. 

Major National and International Oil Companies have once again confirmed their participation in ADIPEC this year, including the Bahrain Petroleum Company, the China National Petroleum Corporation, the Korea National Oil Corporation, the Kuwait Oil Company, Qatar Petroleum, Saudi Aramco, as well as BP, ExxonMobil, the Japan Oil Development Co., Ltd., Oxy, Partex Oil and Gas, Shell, Statoil, and Total. 

Oil field service giants Schlumberger and Weatherford are also regulars at ADIPEC.

New Offshore & Marine Section
Following strong demand, ADIPEC 2015 will feature the launch of the Offshore & Marine exhibition area, allowing companies to showcase products, services and solutions for the maritime and offshore industry in an actual marine environment.

Located in a purpose-built zone on the waterfront at ADNEC, the new exhibition area will be complemented by a dedicated Offshore & Marine Conference, running across all four days of ADIPEC 2015, and providing additional opportunities for knowledge exchange.

ADIPEC 2015 will also extend the exhibition show floor to include an additional hall and an outdoor zone dedicated to heavy machinery, located directly on the marine front of ADNEC. 

“ADIPEC has now firmly established itself as one of the world’s top three energy events and continues to attract more national and international oil companies and service companies than any other event in the world,” said Christopher Hudson, Senior Vice President, Energy at dmg events. “We are delighted to add the Offshore & Marine Exhibition and Conference to the event, and welcome back features such as the globally renowned ADIPEC Awards and the Middle East Petroleum Club to make ADIPEC 2015 more successful than ever.” 

Building on Success
ADIPEC 2015 is expected to surpass the success of last year’s record event, which drew more than 76,000 visitors, and generated USD 8.5 billion of on-site business, up from USD 5 billion in 2013. 

ADIPEC 2015 is again providing one of the world’s largest-scale conference programmes, organised by the Society of Petroleum Engineers, with topics and sub-topics covering both technical and non-technical functions in the oil and gas industry. Conference panel sessions will take place on each and every day of the event. 

The ADIPEC Conference Programme brings together government ministers, CEOs of the world’s oil and gas giants, and industry experts to address the current state and future opportunities for the energy sector. Nearly half of the conference content in 2014 was generated outside the Middle East, cementing ADIPEC’s position as a global hub for the energy sector.

Also returning to ADIPEC 2015 will be the ADIPEC Awards, which celebrate innovation, best practice, and excellence in energy for people, companies, projects and initiatives in the oil and gas industry across the Middle East and North African region. The ADIPEC Awards are currently open for nominations, and the deadline is 30 July 2015. Winners of the prestigious awards will be announced on ADIPEC’s opening night.

The definitive club for senior oil and gas executives, the Middle East Petroleum Club (MEPC) provides a secure and private environment for key decision-makers to engage with peers, contacts and colleagues, and forge new connections. The 2015 MEPC VIP programme will allow members to attend a series of interviews, briefings and panel discussions in a purpose-built theatre. 

Challenging the perception that the oil and gas industry is a male-dominated environment, the official ADIPEC Women in Industry series will give attendees the opportunity of meeting with peers and discussing the future role of women in the energy arena, with an industry topical panel discussion and lunch on Monday, 28 September, and a full day gathering on Sunday, 8 November. 

Now entering its third year, Young ADIPEC, the hugely successful programme designed to engage the younger generation in the oil and gas industry, is expanding its reach with the creation of a Young Ambassador for each school that takes part in the programme. The programme will also feature interactive engagement sessions to help students learn more about the energy sector and develop key skills. 

Thursday, 14 May 2015

MagneGas Reports Financial Results for the First Quarter of 2015 - 14/05/2015

MagneGas Reports Financial Results for the First Quarter of 2015

Revenue Increased 184.8% to $545,648

Metal Cutting Revenue Increased 305.1% to $522,315

MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, today announced financial results for the first quarter ending March 31, 2015.

Financial Highlights - March 31, 2015

Revenues for the three months ended March 31, 2015 increased 185% over the same period 2014 and were $545,648 and $191,601, respectively;
Gross margins remained flat at 45% despite the introduction of the new MagneGas2® product line;
The Company had an ending cash balance of $4,139,699 on March 31, 2015.
Ermanno Santilli, Chief Executive Officer of MagneGas stated, "We are making steady progress as evidenced by our increased sales and addition of premier customers, including a top five U.S. utility company, one of the largest cement companies in North America, the Fire Department of NY and fire departments nationwide, among others.  These high profile customers and early adopters validate our technology, as MagneGas continues to gain industry recognition as a safer and more effective alternative to acetylene.  Revenue in the metal cutting segment more than tripled to $522,315, due in large part to the acquisition of Equipment Sales and Service, Inc., (ESSI).

In addition to adding new customers following the acquisition of ESSI, we have also begun actively marketing Magnegas2® fuel to existing ESSI customers and recently shipped our largest single order of fuel in the Company's history to a California based customer for a furnace refurbishment project."

"Turning to our equipment sales business line for liquid waste processing, we have initiated an aggressive new marketing campaign aimed at pursuing international equipment sales in strategic areas of the world through social media, industry events and a network of independent brokers.

In March 2015, we hosted the World Water Day Summit at the United Nations Headquarters in partnership with The Jack Brewer Foundation (JBF Worldwide) and the U.S. Federation for Middle East Peace (USFMEP) to raise awareness for our sustainable, disruptive technology that is able to sterilize waste water and liquid manure that is being used in agriculture, in order for potable or developed water to be used in other sectors.  As a result, we are in active discussions with several developing nations who are interested in purchasing and using our system."

"Regarding our agriculture opportunity with one of the largest swine farms in the USA, we are continuing to perform modifications to our unit to improve throughput in order to transform manure into a valuable nutrient stream. The MagneGas sterilization system is an important piece of the manure solution for the swine industry allowing a complete re-think to how hog farms are designed and run in addition to improving the quality of life for the pigs themselves. This system coupled with our patent pending microbiological additives, allows for a more value added nutrient stream increasing the applications and safety to reduce the re-growth of pathogens."

"We are also moving forward aggressively with our plans to commercialize MagneGas2® for the co-combustion of hydro-carbon fuels with greater efficiency and the significant reduction of emissions.  In cooperation with our strategic partners, we are undergoing worldwide development and testing of MagneGas2® for use in co-combustion with coal and coal by-products in the power industry.  We are extremely encouraged by the outlook for this business line as it has the potential to save customers millions in costly retrofits to meet new environmental regulations. We look forward to providing further updates in the near future."

First Quarter 2015 Financial Results

Revenues for the three months ended March 31, 2015 were $545,648 as compared to $191,601 for the same period last year.  Revenue from metal cutting revenue was $522,315 for the first quarter of 2015 as compared to $128,927 for the same period last year.  This was primarily due to an increase in MagneGas® fuel sales and revenue received from the acquisition of ESSI, Inc.

Operating expenses (excluding stock payments and our one time loss on property sale), increased to $1,476,254 for the period ending March 31, 2015 versus $971,295 for the same period 2014. The additional expenses were primarily due to the operating expenses associated with the ESSI, Inc. acquisition. The direct costs of revenue increased to $299,305 for the period ending March 31, 2015 versus $105,600 for the same period in 2014, however gross margins overall remained flat at 45%.

Conference Call

MagneGas' executive management team will host a conference call today, Wednesday, May 13th at 11:00 am Eastern Time to discuss the company's financial results for the first quarter ending March 31, 2015, as well as the Company's corporate progress and other meaningful developments.

Interested parties can access the conference call by dialing (877) 407-8033 for U.S. callers or (201) 689-8033 for international callers.

A teleconference replay of the conference call will be available approximately one hour following the call, through midnight Saturday, June 13, 2015, and can be accessed by dialing (877) 660-6853 (U.S. callers) or (201) 612-7415 (international callers) and entering conference ID: 13609665.

Gazprom already fulfilled two-thirds of obligations to commission generating facilities - 14/05/2015

Gazprom already fulfilled two-thirds of obligations to commission generating facilities

The Gazprom headquarters hosted today Press Conference “Gazprom's Power Generation Strategy” held on the threshold of the Company's annual General Shareholders Meeting. Taking part in the Press Conference was Denis Fyodorov, Directorate Head of Gazprom – Director General of Gazprom Energoholding.

It was highlighted that Gazprom Group maintained the leading position in the Russian power market in terms of the aggregate installed electric (some 38 GW) and thermal (over 70 thousand Gcal/h) capacity.

In 2014 the Group's main companies (Mosenergo, MOEK, TGC-1 and OGK-2) produced a total of 152.2 billion kWh of electricity (4.63 per cent down compared to 2013) and 120 million Gcal of heat (two per cent down). Lower power generation rates are conditioned by optimizing the load on inefficient power units as well as a slump in electricity demand throughout the Group's business activity regions.

The total proceeds (Mosenergo, TGC-1, OGK-2 and MOEK under RAS, excluding the Murmansk CHPP, MOEK's subsidiary) amounted to RUB 448.8 billion (0.9 per cent up versus 2013) and net profit – RUB 3.8 billion (50 per cent down) in 2014. The MOEK losses dropped to RUB 6.8 billion (from RUB 8.8 billion – by 14.4 per cent), and all generating companies (Mosenergo, TGC-1 and OGK-2) of the Group closed 2014 with the total profit of RUB 10.6 billion. In 2015 the Group's companies are expected to generate 162.1 billion kWh (6.5 per cent up) of electricity, and 122.9 million Gcal (2.4 per cent up) of heat.

Total revenues under RAS are forecast to grow by 6.4 per cent (to RUB 477.6 billion), net profit – 2.2 times (to RUB 8.4 billion) and net losses of MOEK will drop by another 32 per cent (to RUB 4.6 billion).

In 2014 Gazprom Group commissioned 905 MW of new generating capacities in Russia: two combined-cycle gas turbine units with the capacity of 420 MW each – at the Cherepovets SDPP (OGK-2) and at CHPP-16 (Mosenergo) as well as a 65 MW gas turbine unit at CHPP-9 (Mosenergo). Between 2007 and 2014 the Group commissioned about 6 GW of new generating capacities under the capacity supply agreements.

Thus, Gazprom has already fulfilled more than two-thirds of its obligations assumed in 2007 upon its entry into the power industry. At present, the Company is planning to construct the Grozny TPP pursuant to the Russian Federation Government Decision.

The Press Conference also addressed the issues concerning the operation of Gazprom's generating facilities in Russian regions.

FRACKING ADVOCATE CALLS FOR DAVID CAMERON TO PUSH AHEAD WITH SHALE OIL AND GAS - 14/05/2015

FRACKING ADVOCATE CALLS FOR DAVID CAMERON TO PUSH AHEAD WITH SHALE OIL AND GAS

Interview opportunity: ‘Frack Master’ Chris Faulkner, CEO of Breitling Energy Corporation, in London on May 18 & 19, speaking the 8th Annual Platts Global Crude Oil Summit

Chris Faulkner, CEO of Breitling Energy Corporation based in Dallas, Texas, and known by the media as the ‘Frack Master’, will be available for interview in London on Monday and Tuesday next week, May 18 and 19, when he gives a presentation at the 8th Annual Platts Global Crude Oil Summit.

Faulkner is calling for the UK to push ahead with exploration of its potential shale oil and gas reserves. He said: “With a decisive victory under his belt, David Cameron should ignore the falsehoods and exaggerated risks promoted by misleading environmentalists and do what is right for the country’s future."

“What’s key here is that the UK can gain independence from foreign oil and gas by developing these potentially massive resources under its own soil.”
According to a University of Manchester research study released last autumn, the UK could potentially have as much as 470 years of natural gas supply from its shale.

"Instead of relying on Russia's instability and distemper, Great Britain could now be in a position to create a self-reliance for not decades....for centuries.  If this report is anywhere near correct, and I believe it is based on the reputation of the institution, this is a story that should be heard around the world.  No other nation has that much potential supply," Faulkner says. 

"It will take bold leadership on the Prime Minister's part to stand up to these people who falsely believe this great country can fuel itself with just windmills and solar panels.  Last time I was here, I challenged an environmentalist to come to Texas and see our operation.  I'd pay for the trip, but she can't travel using any mode of transportation that consumes fossil fuels.  That's the world she wants for the U.K.  I haven't heard from her," Faulkner added.

World oil prices
Chris Falkner is traveling to London on the heels of a week-long trip to the Middle East, where he spent two days in media interviews from an interested local press regarding his views on OPEC in light of recent reports that Saudi Arabia and other member countries are burning through reserve cash faster than anticipated.

"The current environment can continue for a little while longer, but it is not sustainable.  Saudi Arabia is playing an international game of chicken and it's a very risky proposition.  No country is going to have its head held underwater longer than they can breathe and that's basically what Saudi is doing to the other OPEC countries.  Why?  Just to prove a point, he noted.”

Reports just released indicate Saudi Arabia is racing through its estimated $750 billion reserve cash at a faster pace than anticipated.  According to news reports released last week, the Kingdom is spending over $15 billion per month, and foreign exchange holdings in its central bank dropped from $755 billion to $708 billion in March.

Faulkner added: “Saudi Arabia’s social programs cannot be sustained at these oil prices.  The Kingdom needs upwards of $90 per barrel just to break even. Are they going to deplete assets that took decades to amass, just to ‘teach someone a lesson?'”

With the recent administrative changes King Salman initiated, combined with the news that Saudi alone has increased its total rig count by 30% over the last 12 months indicates a Kingdom more in distress than in control. 

“Why are they drilling more?  Do they think they can force prices down further, to their own detriment?” Faulkner asks.  “What they’re doing isn’t sustainable and eventually shale production from the US and Mexico and tar sands production from Canada will catch up with them,” Faulkner predicts.  “We’ve never seen Saudi standing alone like this before in modern history.  They’ve basically been abandoned by the Obama administration, and will face one of the greatest threats in their history as it appears our Administration will be turning a blind eye to Iran’s nuclear program, and we all know what that outcome will be.”

Faulkner advocates what he calls “NOPEC”, which is an organised North American energy federation between the US, Canada and Mexico to orchestrate production that could help stabilize world oil prices.  “OPEC has become almost insignificant because of the new resources in North America.  They don’t have the moxie they used to and it’s time to end this madness of a Middle Eastern bully who pushes the rest of the world around with oil,” Faulkner says. 

Wednesday, 13 May 2015

Forward thinking operators Statoil and Total envision complete subsea factories by 2020 - 13/05/2015

Forward thinking operators Statoil and Total envision complete subsea factories by 2020 

To make this vision a reality, a keynote operator panel including Total, Shell, and Saipem Spa, has been assembled at the Subsea Processing and Flow Assurance Conference (Houston, May 26-27) to analyse the business case for subsea processing and flow assurance.

This dual-track event covers a host of critical subsea processing and flow assurance topics to help you realize how to unlock deepwater resources, increase production efficiency and uptime.

Get the 2 day agenda and speaker line up here: http://bit.ly/1HgBwub

200+ subsea processing and flow assurance experts will be attending this conference to learn how to:
•    Explore the vision behind moving the entire processing system to the seafloor as a way to maximize production and cut CAPEX and OPEX costs
•    Discuss both the positive and negative impacts that low oil prices will have on the development of subsea processing
•    Understand the importance of cross-industry collaboration, standardization and technology qualification to guarantee subsea factories will become a reality

Prominent speakers confirmed:
-    Khalid Mateen, VP Engineering and Technology, Total
-    Ed Grave, Fractionation & Separation Advisor, ExxonMobil
-    Hans Christian Hamre, Subsea Processing Expert, Shell
-    Giancarlo Mangiafico, Project Coordinator, Eni Petroleum
-    Mike Stratton, Flow Assurance Lead, Hess
-    E. Kurt Albaugh, Manager Of Project Services for Alaska, Repsol
-    John Vicic, Retired Technology Program Manager Deepwater & Arctic, ConocoPhillips
-    Janardhan Davalath, Manager, Western Region Subsea Processing and Global Subsea Power Systems FMC Technologies
-    Neal Prescott Executive Director Offshore Technology, Fluor
-    Chuck Horn Engineering Manager, Subsea Processing, Genesis

Don’t miss this opportunity to learn how you can capitalize on the fast growing subsea processing market and unlock new contract opportunities for your business.