Tuesday, 30 June 2015

Global Energy Sector Looks to ADIPEC 2015 Awards for Achieving Sustainability through Innovation - 30/06/2015

Global Energy Sector Looks to ADIPEC 2015 Awards for Achieving Sustainability through Innovation

Developments in Technology Critical to Promoting Cost Efficiencies in Challenging Market Conditions, say Abu Dhabi Industry Chiefs

Innovation is key to achieving progress in the energy sector in today’s economic environment, Abu Dhabi industry leaders said yesterday.

As regional and global oil and gas companies continue to submit their nominations for the prestigious ADIPEC 2015 Awards ahead of the 30 July deadline, members of the Regional Select Jury (RSJ), which is comprised of senior professionals from across the industry, emphasized the pivotal role that developments in technology play in creating and harnessing sustainable energy resources.

“With eight categories that span the most critical issues surrounding the energy sector, the ADIPEC Awards encourage and uphold organizations that champion forward thinking attitudes and value new ideas brought by young talent,” said Mr Ali Khalifa Al Shamsi, Director of Strategy & Coordination at ADNOC, and ADIPEC 2015 Chairman. “This is essential in order to continue meeting the ever-growing global demand for energy in the context of today’s market conditions.”

Set to take place on the opening night of the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), one of the world’s top three energy events, the ADIPEC 2015 Awards are currently accepting nominations and offer both regional and global companies a platform to showcase accomplishments that shape the future of the industry.

“Innovation sits at the core of sustainable energy production. It helps cut costs, allowing you to become more competitive in this economic environment,” said Rafi Baghdjian, Chief Operating Officer at Shell Abu Dhabi, and member of the RSJ. “For example, Abu Dhabi is currently pursuing ventures, such as Al Hosn and Bab sour gas projects, that may not have been possible or very expensive 10-20 years ago. But through innovative methods, we can now extract this gas both safely and efficiently.” 

“Looking to other countries like the US, where innovative techniques are being used to extract shale oil and gas, a decade ago it was thought that it would not be possible to tap into these very tight reservoirs in an economic way, but innovation has driven this kind of development – it is a bloodline of the oil and gas industry,” Baghdjian added. 

Among the eight categories of the ADIPEC 2015 Awards, ‘Best Oil & Gas Innovation or Technology’ (Surface or Sub-surface) is currently showing the most interest, demonstrating the region’s unwavering commitment to advancing the oil and gas industry, and to meeting the rising global demand for energy.

The ‘Best Oil & Gas Corporate Social Responsibility (CSR) / Health, Safety, and Environment (HSE) Project or Initiative’ category, and the new ‘Best Dissertation of the Year’ category follow, both looking at critical areas that promote progress within the energy sector.

“Going forward, we are all aware that the oil & gas industry will be facing both challenges and enormous opportunities – developing our knowledge and understanding of the sector is absolutely essential if we are to grow and develop the industry,” said Dr Thomas Hochstettler, President of the Petroleum Institute and RSJ member. “The Best Dissertation Award will promote academic excellence and help to deliver real-world understanding.” 

Also new to this year’s Awards is the ‘Best Practice’ category, which recognizes the creation and successful implementation of an initiative that offers improvement to an internal business process, structure, or culture.

"Best practice and innovation are crucial to the success of our industry, especially in the new commodity price environment," said Edward LaFehr, Chief Operating Officer of Abu Dhabi National Energy Company PJSC (TAQA), and member of the ADIPEC Awards jury. "I am excited to see the entries for the Best Practice category which show that the oil and gas industry is rising to the challenge."

The remaining four categories for 2015 include ‘Best Oil & Gas Mega Project’, ‘Best Oilfield Services Company’ (Local, Regional or International), ‘Young ADIPEC Engineer’, and ‘Oil & Gas Woman of the Year’.

Fatima Obaid Al Jaber, Board Member and Chief Operating Officer at Al Jaber Group, said: “The Oil & Gas Woman of the Year category aims to recognise successful women in the industry who are striving for excellence and are being supported by their company’s empowerment processes.”

The highly coveted accolades present oil and gas companies with a unique opportunity to not only have their achievements recognized regionally and globally, but also to disseminate knowledge and information that will set benchmarks for excellence in the industry. 

“ADIPEC 2015 will celebrate innovation and this year’s ADIPEC Awards will showcase how the region’s oil and gas industry is delivering on innovation,” said Hirotatsu Fujiwara, Managing Officer and Chief Operating Officer, Energy Business Unit II at Mitsui & Co., Ltd., a sponsor of the ADIPEC 2015 Awards. 

“As a world-leading event, ADIPEC is the perfect platform for knowledge sharing and collaboration and the ADIPEC Awards are a vital element in that, providing the standards for the industry to achieve. The Awards also contribute to Abu Dhabi’s growing profile in the energy sector and highlight its role in promoting excellence and best practice,” Mr Fujiwara added.

Last year, the ADIPEC Awards received a record-breaking 390 submissions from more than 100 organizations across 26 countries, marking an increase of 100 submissions when compared with 2013.

Contract awarded for process and riser platforms on Johan Sverdrup - 30/06/2015

Contract awarded for process and riser platforms on Johan Sverdrup  

Statoil, on behalf of the Johan Sverdrup license, has awarded Samsung the contract for decks for both the process and riser platforms.  The total contract value is NOK 7 billion.
The contract is a fabrication contract (FC) of decks for the process and riser platforms. Aker Solutions has previously been awarded engineering work and purchase of equipment packages for the two aforementioned decks.  

The function of the process platform, which weighs approx. 26,000 tonnes, is to ensure stabilisation of the oil and processing into rich gas. 

The riser platform, which weighs approx. 22,000 tonnes, will serve oil and gas exports, water and gas injection, as well as any future connections. The power cable from onshore also ends at this platform, where the current is transformed from direct current into alternating current for further distribution to the field centre.  

The platform deck will be manufactured at the Samsung’s shipyard in South Korea. 
"Johan Sverdrup is a large puzzle in which many suppliers must deliver with precision, quality and on time in order for us to start production towards the end of 2019 and this contract is yet another important milestone for the Johan Sverdrup project. Samsung has extensive experience in manufacturing such installations and we already have a good collaboration with the supplier. They have provided a competitive bid in a tough international competition," says Margareth Øvrum, executive vice president for Technology, projects and drilling at Statoil. 

With this latest award, all contracts for the four platform decks have been awarded. The decks for the drilling platform and accommodation platform have already been awarded to Aibel (EPC) and Kværner Stord (EPC). In addition, 65% of the equipment packages have so far been awarded to suppliers with Norwegian billing addresses. 

"Johan Sverdrup will be of major significance to the whole of society for at least 50 years into the future. We now have in place a broad and strong team in the supplier industry to construct the decks for the four platforms. This provides the most optimal conditions for project delivery in terms of quality, time and cost," says Øivind Reinertsen, project director of Johan Sverdrup field development.  

Facts Johan Sverdrup

The investment costs for phase 1 of the Johan Sverdrup development are estimated at some NOK 117 billion NOK (2015 value). Recoverable resources are projected at between 1.4 and 2.4 billion barrels of oil equivalent.

The development concept for Johan Sverdrup phase 1 will consist of four installations, including a utility and accommodation platform, a processing platform, a drilling platform and a riser platform, in addition to three subsea templates for water injection. 

The platforms will be bridge-linked. The project aims at a recovery rate of 70% for Johan Sverdrup. 

The Johan Sverdrup partnership consists of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil. The partnership has recommended Statoil as the operator of all field phases. 

Overall main contracts at a value of more than NOK 27 billion and more than 45 equipment package contracts at a value of NOK 3.5 billion have been awarded to suppliers with Norwegian invoice addresses.

Plan for development in the Gullfaks area submitted - 30/06/2015

Plan for development in the Gullfaks area submitted  

Statoil and its partners have today submitted an amendment to the Plan for Development and Operations (PDO) for the Gullfaks licence to the Ministry of Petroleum and Energy for phase 1 of the Shetland/Lista development.
Phase 1 of the development is expected to add 18 million barrels of oil equivalent, and will help increase the resilience of the area for continued operation of the Gullfaks platforms in the North Sea. 

“Targeted efforts are underway to cut costs and increase the profitability of our projects. By utilising the existing infrastructure we manage to recover new resources at a lower cost, thus sustaining profitable production and long-term activities on the Norwegian continental shelf (NCS),” says Ivar Aasheim,  senior vice president for field development on the NCS. 

The development concept is based on reuse of existing wells (a total of 15) from the Gullfaks platforms, and will not require any new infrastructure. The profitability of the project will thus be very good. 

Shetland/Lista has been producing under a test production licence since 2013. The submitted plan defines the more long-term development of these resources. This, however, is only the first phase of the development, which involves depressurisation down to bubble point pressure in the reservoir. 

Gullfaks has been a unique industrial venture. Since first oil in December 1986 the field has produced more than 2.56 billion barrels of oil and exported more than 70 billion standard cubic metres (sm3) of gas,” says Kjetil Hove, senior vice president for Operations West, Development and production Norway.  

“The current recovery rate on the main Gullfaks field is 59 percent, and with a productive life towards 2036 our aim is to further increase this rate,” Hove says. 
Shetland/Lista will add new valuable barrels. Investment costs are estimated at some NOK 900 million. 

Statoil continues its efforts to realise the next phase based on pressure maintenance. This is expected to significantly improve the recovery rate for Shetland/Lista. 

The Shetland Group and Lista Formation have with different properties compared with the deeper deposits of the Brent Group, where the main Gullfaks reservoirs are located. The producing interval in Shetland/Lista consists of thin limestone beds that are fractured and thus contribute to good productivity.

Indications of hydrocarbons in the Shetland Group/Lista Formation have long been known. Good productivity was initially established in December 2012 and has been confirmed through perforation in another three existing Gullfaks wells. This has warranted commercial development of the play.

Monday, 29 June 2015

OneSubsea Awarded Contract For The Supply Of Subsea Trees For Shah Deniz Two Development, Azerbaijan - 29/06/2015

OneSubsea Awarded Contract For The Supply Of Subsea Trees For Shah Deniz Two Development, Azerbaijan

OneSubsea®, a Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, has been awarded a contract totaling more than $60 million for the Shah Deniz Two development, operated by BP, offshore Azerbaijan. 

OneSubsea was awarded the initial contract for subsea trees for Shah Deniz Two in 2013. The scope of the new contract includes the supply of the second of three planned batches of subsea production trees and ancillaries. Deliveries are expected to commence 2016.

OneSubsea Chief Executive Officer Mike Garding said, "We are very pleased to be continuing the work on the Shah Deniz development. These high pressure trees are based on the tree technology supplied for the BP Isabela project in the Gulf of Mexico."

Johan Sverdrup construction has started - 29/06/2015

Johan Sverdrup construction has started

Construction work has commenced, at Kværner in Verdal, on the biggest industrial project in Norway for decades to come.

Production of the first elements on the Johan Sverdrup project has begun. On Monday 29 June Kværner metal worker Stian Myrvold Green started up the machine that will cut the steel for the riser platform jacket on the Johan Sverdrup field. 

“This is a special day. We’ve been working thoroughly for a long time making the preparations for this exciting and complex project. It feels great now that we’ve started construction on one of the biggest industrial projects in Europe,” says senior vice president for the Johan Sverdrup development project, Kjetel Digre.

The steel jacket now being built at Kværner Verdal will weigh 26 500 tonnes, making it the biggest steel jacket in Europe. 

“The steel jacket will also be one of the most complex ever built by the industry. Not only will we route the land-based power through the jacket, we’ll also be controlling the subsea water injection and exporting the field’s oil and gas from it. In addition, we’re also preparing to tie in future phases of the Johan Sverdrup field development to the riser platform. In building this jacket, we’re in fact making preparations to take in as many as 56 conduits,” Digre says. 

The steel jacket for the riser platform will be transported and installed on the Johan Sverdrup field in 2017. Due to its size, the jacket will be shipped out to the field on the biggest barge in the world for this type of transport, Heeremas H-851. In order to receive the 260 metre-long barge, the quay at Kværner Verdal is being upgraded. 

The steel jacket is not the only Johan Sverdrup element currently under construction. The 246-tonne template for the wells, to be pre-drilled on the field from March 2016, is being produced at Vlissingen in The Netherlands. The well template will be installed on the field in the course of the summer/autumn 2015.

“We’ve got an ambitious plan to bring Johan Sverdrup on stream in late 2019 and in accordance with this plan, we’ve now started to produce first building bricks for the project,” says Digre. 

The Johan Sverdrup partnership consists of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil. The partnership has recommended that Statoil be operator for all the field’s phases.

Thursday, 25 June 2015

Rig contract cancelled - 25/06/2015

Rig contract cancelled

Statoil has decided to cancel the contract with COSL Pioneer some 13 months before the expiry date of August 2016.

COSL Pioneer has been suspended since 8 October 2014 and Statoil has not managed to find alternative activity for the rig during the intervening period.

“We regret the need to have to cancel this contract and wish to emphasise that this is not due to how the rig has delivered,” says supply chain senior vice president, Jon Arnt Jacobsen.

“COSL Pioneer and its crew have demonstrated a good safety culture and delivered efficient drilling operations to Statoil. Cancellation is a consequence of overcapacity in the rig portfolio.”

Leading manufacturer showcases its superior rupture disc technology at Offshore Europe 2015 - 25/06/2015

Leading manufacturer showcases its superior rupture disc technology at Offshore Europe 2015

Elfab will demonstrate how its latest product developments can offer significant cost savings for the oil & gas sector

Europe’s leading rupture disc manufacturer, Elfab, is pleased to be involved in one of the UK’S largest events, dedicated solely to the Oil & Gas industry. Attracting a global audience from around the world, of engineers, industry leaders and technical specialists to share ideas and topics of what is happening in the offshore E&P industry. 

As the Oil & Gas sector is seeing a significant downturn, Elfab recognises that saving costs and maintenance time is crucial. Elfab’s cost-effective, rupture disc burst detection system Flo-Tel™ and Flo-Tel™ XD has already been widely adopted across Oil and Gas companies worldwide looking for failsafe cost-effective solutions. Elfab’s integrated detection technology avoids ongoing re-wiring costs following a rupture disc burst, as only the disc needs replacing, hence reducing repurchasing and associated installation costs. 
Elfab has further quantified the reliability of its detection systems in hazardous processes by attaining Safety Integrity Level (SIL) ratings for its Flo-Tel™ and Flo-Tel™ XD products. 

Furthermore, Elfab is improving the efficiency of its customers’ stock management to reduce long-term costs by conducting site surveys and offering recommendations to rationalise their stock parts. Due to high operating ratios and tighter tolerances offered by Elfab’s Opti-Gard™, this industry-leading reverse-acting rupture disc can replace a wide range of disc specifications to reduce purchase spend over time. 

Visitors to the stand can also see high performance visualisations, showcasing its latest developments in rupture disc technology.

Wednesday, 24 June 2015

Turkey issues permit on surveys for Turkish Stream - 24/06/2015

Turkey issues permit on surveys for Turkish Stream

Turkey has issued a permit on engineering surveys for the offshore section of Turkish Stream. The document stipulates that investigations will be carried out within the exclusive economic zone and territorial waters of Turkey in order to place the first offshore string of the gas pipeline.

The offshore section of Turkish Stream will consist of four strings, each with a throughput capacity of 15.75 billion cubic meters. The gas pipeline will stretch for 660 kilometers within the existing corridor of South Stream and for 250 kilometers within a new corridor towards the European part of Turkey. Natural gas from the first gas pipeline string is expected to meet the growing demands of the Turkish market only.

The Turkish party has also confirmed that the EIA findings obtained for the Turkish offshore segment of the South Stream gas pipeline may be used for the construction of a new gas trunkline.

Harkand mobilises vessel for Premier Oil in UKCS - 24/06/2015

Harkand mobilises vessel for Premier Oil in UKCS

GLOBAL operator in the subsea inspection, repair and maintenance sector (IRM), Harkand, has embarked on  a contract awarded by Premier Oil Plc to support the operator activities on the Solan field development, West of Shetland.

The multi-purpose service vessel the Siem Spearfish, which is on long-term charter to Harkand,  arrived in Newcastle earlier this month to begin mobilisation for the campaign which will see it perform  walk-to-work duties for the ongoing commissioning work on site.

The Spearfish is being fitted with an Ampelmann active motion compensated gangway which will allow personnel to walk onto the Solan platform safely, even in high wave conditions. The Spearfish is due to arrive on site in Block 205/26a in the UKCS later this month with the work expected to run until August.

The 120m Spearfish was launched last year after being designed and built at the Vard facility in Norway with input from Harkand. Constructed with a deck layout specifically designed to increase the efficiency for mobilisation and demobilisation, it is equipped with a 250 tonne AHC offshore crane with 3,000m of wire and two heavy workclass Triton 4000 meter XLS ROVs and can accommodate a crew of 110.

Harkand Europe managing director David Kerr said: “Solan is an important development and is expected to contribute to the UK economy for the next 20 years. It is also a potentially challenging project in terms of the variable weather conditions anticipated West of Shetland.

“The safety and welfare of the offshore workforce is paramount and we are pleased to have been selected to provide support with a state-of-the-art vessel which is outfitted with the necessary equipment and the people to meet the demands of working offshore West of Shetland.”

Harkand provides offshore vessels, ROVs, diving, survey services, project management and engineering to the oil and gas and renewables industries. Headquartered in London with operations bases in Aberdeen, Houston, Mexico and Ghana, it aims to be the leading subsea IRM and light construction contractor globally.



International oilfield services company, Expro, has been awarded new contracts from Tullow Oil plc, Africa’s leading independent oil company.

Worth in excess of $100 million over three years, the contracts will see Expro work across Tullow Oil’s assets in Ghana, including the Jubilee Field and the Tweneboa-Enyenra-Ntomme (TEN) field project.

Following on from Expro’s phase one contract for Jubilee, involving more than 10 completions, the company has been awarded continued services for phase 1a. This covers completions on new wells for Jubilee, as well as interventions and remedial work.

A number of Expro’s product lines and services will be utilised, including large bore subsea completion landing strings, subsea exploration and appraisal landing strings, high flow rate surface well testing and sampling services. The TEN project will also see Expro provide subsea completion work in all planned wells.

The company has invested over $32m in Ghana since entering the market in 2008 to support key clients such as Tullow.

Riccardo Muttoni, Expro’s Sub-Saharan Africa Region Director, comments: “We are delighted to work with Tullow in delivering a range of world class projects, strengthening our existing partnership and delivering value to their Ghanaian business.

“These contracts build on investments Expro has made over the past 5 years including the establishment of our world class operating facility in Takoradi. We are proud that 70% of our workforce in-country, including 20 graduate engineers, is Ghanaian, which we are looking to increase to 85% by 2017.”

Charles Darku, Tullow Ghana’s General Manager, said: “We look forward to utilising Expro’s expertise in the offshore environment to deliver our key projects in Ghana. Major investments have been undertakento date by both Tullow and Expro, with emphasis on local content development plans to further create opportunities for local businesses and people.”

Expro’s Sub-Saharan Africa operational headquarters are in the Ghanaian capital, Accra.

Tuesday, 23 June 2015

ExxonMobil Sells Share of Chalmette Refining, LLC in Louisiana - 23/06/2015

ExxonMobil Sells Share of Chalmette Refining, LLC in Louisiana

PBF Energy Inc. to purchase refinery from ExxonMobil and PDVSA
ExxonMobil committed to ongoing operations in Louisiana
Decision results from careful assessment of strategic priorities in Downstream

ExxonMobil has reached an agreement with PBF Energy Inc. for the sale and purchase of its 50 percent interest in Chalmette Refining, LLC in Chalmette, Louisiana.

PBF Energy will purchase 100 percent of Chalmette Refining, LLC, which is a joint venture between affiliates of Petróleos de Venezuela, S.A. (PDVSA) and ExxonMobil.

The agreement includes the Chalmette refinery and chemical production facilities near New Orleans, La. and the company’s 100 percent interests in MOEM Pipeline, LLC and 80 percent interest in each of Collins Pipeline Company and T&M Terminal Company. ExxonMobil operates Chalmette Refining, LLC and Mobil Pipeline Company, an ExxonMobil affiliate, operates the logistics infrastructure.

“This decision is the result of a strategic assessment of the site and how it fits with our large US Gulf Coast Refining portfolio,” said Jerry Wascom, president of ExxonMobil Refining & Supply Company.

“We regularly adjust our portfolio of assets through investment, restructuring, or divestment consistent with our overall global and regional business strategies,” said Wascom. “ExxonMobil remains committed to doing business in Louisiana through ongoing operations at the Baton Rouge refinery and chemical plants, the development and production of oil and natural gas resources, and sales of fuels and lubricants. All of these businesses are unaffected by this agreement.”

Subject to regulatory approval, change-in-control is anticipated to take place by the end of 2015. Details of the commercial agreements are proprietary.

Cautionary Note: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including future business plans and closing of the sale and purchase agreement, may differ depending on market conditions affecting the oil and gas industry and long-term oil and gas prices; political and regulatory events, including granting of regulatory approvals for closing of the agreement; satisfaction of other conditions specified in the agreement; the outcome of commercial negotiations; and other factors discussed under the heading “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and in Item 1A of ExxonMobil’s most recent Annual Report on Form 10-K.

ECOWAS and Penspen Sign Contract for a Feasibility Study for the Extension of the Gas Pipeline Network in West Africa - 23/06/2015

ECOWAS and Penspen Sign Contract for a Feasibility Study for the Extension of the Gas Pipeline Network in West Africa

The Economic Community of West African States (ECOWAS) and international energy services company Penspen announced the completion of contract signing in February 2015 to enable a formal start to the Feasibility Study examining the current West African Gas Pipeline (WAGP) system performance and its possible future network extension to other ECOWAS states.

The work will look at how WAGP has performed since its completion in 2010 and what measures need to be taken to optimise its operation. The work includes a technical and economic analysis of the extension of the pipeline conditions; market assessments will be made of possible ECOWAS countries to consider where network extension can be substantiated and estimates of the required investments will be made to quantify costs and benefits.

The study is planned to take 18 months and will include a number of validation workshops to review progress and study results involving Experts from ECOWAS member states and sub-regional institutions.

The kick-off meeting was held in Abuja with experts from Penspen and a team of ECOWAS headed by Mr Bayaornibe DABIRE, Director of Energy, ECOWAS Commission who quoted in his opening remarks the importance of WAGP and the need for its extension as an opportunity to meet energy demand in the region.

Peter O’Sullivan, CEO of Penspen said: ‘The signing of the contract for this significant study marks yet another occasion where the critical early phase abilities and experience of Penspen has been recognised by multi-nation clients. This study builds on our established work and reputation gained for other feasibility study work on major projects such as Kampala-Kigali, AGRI, TAPI and Trans Sahara’

ECOWAS includes 15 member states covering an area of over five million one hundred (5,1) square kilometers with an estimated population of about 300 million inhabitants. WAGP at present runs from Nigeria to Benin, Togo and Ghana a total distance of 678 km with 569km offshore.

Drilling permit for well 10/4-1 – production licence 734 - 23/06/2015

Drilling permit for well 10/4-1 – production licence 734

The Norwegian Petroleum Directorate has granted Wintershall Norge AS a drilling permit for well 10/4-1. Well 10/4-1 will be drilled from the Borgland Dolphin drilling facility in position 57°40’20.08’’ north and 5°09’18.79’’ east.

The drilling programme for well 10/4-1 relates to the drilling of a wildcat well in production licence 734. Wintershall Norge AS is the operator with a 40 per cent ownership interest. The other licensees are Centrica Resources (Norge) AS and Lundin Norway AS with 30 per cent each. Production licence 734 was awarded in APA 2013.

The area in this production licence lies in the south-eastern part of the North Sea and consists of the eastern part of block 10/4. Well 10/4-1 is the first exploration well in this production licence.

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

Monday, 22 June 2015

ExxonMobil, Korea Institute of Technology and Korea Gas Corporation to Collaborate on Research and Development - 22/06/2015

ExxonMobil, Korea Institute of Technology and Korea Gas Corporation to Collaborate on Research and Development

ExxonMobil today signed a memorandum of understanding with the Korea Institute of Energy Technology Evaluation and Planning and the Korea Gas Corporation (KOGAS) to hold discussions concerning natural gas technologies and new energy technologies.

The agreement will focus on the natural gas value chain, including cryogenic materials, hydrogen production and fuel cell utilization, energy efficiency technologies and technologies associated with robotics and automation.

The multi-year agreement was signed in the presence of Youngsam Kim, director general of investment policy at the Korea Ministry of Trade and Industry; Sara Ortwein, president of ExxonMobil Upstream Research Company; Richard Guerrant, vice president of ExxonMobil Gas and Power Marketing Company; and Graham Dodds, president of ExxonMobil in Korea.

Rob Franklin, president of ExxonMobil Gas and Power Marketing, said ExxonMobil is a world leader in LNG across the entire value chain.

“This memorandum of understanding establishes a framework that allows for information exchange on liquefied natural gas technology, research and development projects and best practices,” said Franklin. “It will enable professional exchanges that will help expand our joint capabilities.”

Sara Ortwein, president of ExxonMobil Upstream Research Company, said the technology development is vital to providing energy to help meet the world’s energy needs.

“Strong partnerships are key to developing and delivering integrated technology solutions,” Ortwein said. “We look forward to working with the Korea Institute of Energy Technology Evaluation and Planning and the Korea Gas Corporation to advance new research and development opportunities and energy technologies.”

Graham Dodds, president of ExxonMobil in Korea, noted that ExxonMobil has had a presence in Korea for more than 40 years, and through its ventures supplies about 30 percent of LNG demand, manufactures and markets Mobil-branded lubricants and markets ExxonMobil chemical products in the country.

“This agreement strengthens the links between ExxonMobil and Korea,” said Dodds.

Technip UK operating centre hosts opening evening to mark National Women in Engineering Day - 22/06/2015

Technip UK operating centre hosts opening evening to mark National Women in Engineering Day

Technip, a world leader in project management, engineering and construction for the energy industry will mark National Women in Engineering Day with an open evening at its UK headquarters in Westhill on Tuesday, June 23rd from 6pm-7.30pm.

Following the success of a similar event last year, Technip’s UK operating centre is inviting young women interested in a career in engineering to come along to find out more about the industry and Technip’s work in the subsea sector.

Attendees will have the opportunity to learn more about various engineering disciplines and will have a chance to speak with female engineers currently working within the oil and gas industry, learning first-hand about their career paths, roles and what attracted them to a career in engineering.

Guided tours of the technical workshops will also take place and advisers will provide information on the various routes into engineering, including the apprenticeship and graduate schemes that Technip currently offers. Representatives from different educational institutes will also be in attendance during the event.

Alison Hunter, Human Resources Director, Technip in the UK, commented:

“We received a great response following last year’s event and are delighted to be hosting the open evening once again in 2015. Technip is committed to providing opportunities for young women and diversity is a key element in ensuring we attract and retain skilled and talented people.

“We find that many young women are unaware of the career paths available to them in the oil and gas industry. Our hope is that the open evening helps to educate and encourage them to consider a career in (STEM) science, technological, engineering and mathematics.”

Bill Morrice, Managing Director, Technip in the UK, commented: “Achieving gender diversity in the workplace is essential to our business and the future of the workforce. Engineering hasn’t always been an obvious choice for women but the opportunities are incredible.”



Tendeka, the provider of completions systems and services to the upstream oil and gas industry, has secured a contract with an international oil and gas company for the installation of sand face completion technology in Austria.

The installation will include FloRight Ultra premium screens with the market-leading FloSure autonomous inflow control devices (AICDs) plus SwellRight packers and sleeves.

The application is a brownfield development and requires AICD technology in order to reduce water cut and unwanted gas production in the latest development phase with horizontal wells. Tendeka was selected for the contract due to the exceptional performance of its FloSureAICDs in increasing oil recovery rates and the flexibility to adjust setting at the rig site based on reservoir data obtained during drilling.

Derek Taylor, Tendeka vice president for Europe, Middle East, Africa and Russia, said: “The FloSure AICD has enjoyed strong uptake in this region with over 10,000 AICDs deployed to date.  The proven value this technology can provide to our clients means we are continually expanding our client base.”

Sand screens will be deployed across the full length of the 500m lateral with up to 140 AICDs planned to be run in the well as part of the six-figure contract which marks the first ever AICD installation in the European land market.

In horizontal oil wells, uneven production due to reservoir heterogeneity and frictional losses in the completion can lead to early water or gas breakthrough, resulting in lost recovery, lost revenues and reduced well life. Levelling out the inflow profile results using inflow control technology can delay water or gas breakthrough but once it does occur Tendeka’s AICD will self-adjust to choke back zones were unwanted water or gas breakthrough has occurred thereby promoting oil production. 

The award-winning FloSureAICD has been deployed successfully in light and heavy oil wells to overcome water or gas breakthrough and ensure uniform production longevity, increasing production rates by up to 50% in comparison to passive inflow control technology. 

Tendeka chief technology officer Annabel Green said: “Our suite of advanced technologies in inflow control, zonal isolation and sand control allow us to provide a fully integrated sandface completion solution to our clients in many challenging applications.

“We look forward to another successful deployment of our technology to provide highly effective sand and inflow control.”

Tendeka has a proven track record in the provision of completions and reservoir monitoring products, systems and services. Its robust solutions help operators overcome the technological challenges they are facing, as it works to continuously develop its offering to the oil and gas industry.

Thursday, 18 June 2015

MagneGas System Successfully Initiates Operation in Central Asia - 18/06/2015

MagneGas System Successfully Initiates Operation in Central Asia

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 its customer in Kazakhstan, Astana TechCom ('Astana") has successfully initiated operation and production of MagneGas fuel.  The fuel produced will be marketed for metal cutting and used by a local university for research.

Astana purchased a Plasma Arc Flow gasification system in 2014, custom built to produce fuel for metal cutting and demonstration of the MagneGas Technology to local energy industries, medical facilities and universities.  Astana intends to market the systems and fuel to local customers.  All equipment sales will be custom built and sourced from MagneGas in the U.S. and shipped to Kazakhstan as ordered.

"We are pleased to announce that Astana has initiated operation in Central Asia.  We intend to sell the fuel produced from the system for metal cutting. In addition, our local university has expressed an interest in studying the unique properties of the fuel for advanced applications.  This small and mobile system is an ideal marketing tool for a wide distribution of MagneGas  products throughout Central Asia," stated Dr. Ascar Aringazin, University Professor and Director of Astana TechCom.

Dry well southwest of the Gjøa field in the North Sea - 18/06/2015

Dry well southwest of the Gjøa field in the North Sea - 35/12-5 S

Wintershall Norge AS, operator of production licence 378, is in the process of completing the drilling of wildcat well 35/12-5 S.
The well was drilled about 15 km southwest of the Gjøa field in the North Sea and 80 kilometres southwest of Florø.

The purpose of the well was to prove petroleum in reservoir rocks from the Upper Jurassic (the Heather, Sognefjord and Fensfjord formations). Well 35/12-5 S encountered about 10 metres of sandstone in the Heather formation, 35 metres of sandstone in the Sognefjord formation and 32 metres of sandstone in the Fensfjord formation, all with good reservoir quality. It also encountered 9 metres of sandstone with poor reservoir quality in the Etive formation. The well is dry.

Data acquisition and sampling have been carried out. This is the fifth exploration well in production licence 378. The licence was awarded in APA 2005.

Well 35/12-5 S was drilled to a vertical depth of 3369 metres and a measured depth of 3570 metres below the sea surface and was terminated in the Oseberg formation in the Middle Jurassic.

Water depth at the site is 353 metres. The well will now be permanently plugged and abandoned.

Well 35/12-5 S was drilled by the Transocean Arctic drilling facility, which is now scheduled to drill wildcat well 6406/12-4 S in production licence 586 in the Norwegian Sea, operated by VNG Norge AS.

New, higher-precision pressure transmitters added to the Sitrans family - 18/06/2015

New, higher-precision pressure transmitters added to the Sitrans family

•   Siemens increases type diversity of the Sitrans family
•   New Sitrans P410 and innovated Sitrans P DS III in the Advanced pressure transmitter segment of Siemens
•   The portfolio is rounded off by Sitrans P310 in the Basic segment and Sitrans P500 in the Premium segment

Siemens is extending the Sitrans P family of its pressure transmitter portfolio. By adding the newly developed Sitrans P310 and P410 to the Basic and Advanced segments and the proven Sitrans P500 in the Premium segment, Siemens is now able to offer the right device class to address every conceivable measurement requirement. The proven Sitrans P DS III has also been technically innovated. The new developments deliver even more accurate measurement results across the whole pressure transmitter range.

The Sitrans family provides a high-precision product portfolio to cover any conceivable measurement need with its comprehensive range of device classes, from the Basic model, the P310, through the Advanced Sitrans P410 to the proven Premium Sitrans P500. The P310 pressure transmitter offers a measurement accuracy of 0.075 percent, making it ideal for applications in fields such as water supply and disposal.

With its extreme measurement accuracy of 0.04 percent, when used in combination with an orifice meter the Sitrans P410 is ideally suited for applications such as the flow measurements required when filling and emptying gas tanks. The same applies to pressure measurements for process gases or fluids in low and high pressure applications up to 700 bar. The Sitrans P500 rounds off the Sitrans P family in the Premium segment with standard measurement ranges from 50 mbar to 32 bar. In terms of performance, precision, long-term stability and diagnostic scope, the differential pressure transmitter is capable of coping with the most stringent demands. With a response time of 88 ms and an ability to operate in temperatures of -49°C to +125°C (-56.2 °F to 257 °F), the Sitrans P500 is ideally suited for the ultra-precise measurement of differential pressure, filling level and flow rate.

Still available is the tried and tested Sitrans P DS III. This product from the Advanced segment has been innovated to feature premium sensor technology, bringing about an improvement in both basic accuracy and temperature range, as well as optimizing measurement deviation to 0.065 percent with a turndown of 1:1 to 5:1. This allows plant efficiency to be further increased when performing processes such as level measurement, as the new technology enables better utilization of shut-off limits for tank filling levels. These improvements and the wider relative pressure range, which has been extended with a 250 mbar cell, make this the highest performing transmitter for flue gas measurements in power stations and incineration plants.

All of the transmitter series are simple to operate using just three push buttons, and offer a long-term stability of 0.125 percent over a period of five years, allowing calibration cycles to be extended and maintenance work reduced with all the associated cost savings. They are also certified to SIL 2/3 and dispose the commonly required Ex zone certifications.

Wednesday, 17 June 2015

Alexey Miller informs Vladimir Putin about Gazprom’s activities in domestic and international markets - 17/06/2015

Alexey Miller informs Vladimir Putin about Gazprom’s activities in domestic and international markets

Vladimir Putin, President of the Russian Federation and Alexey Miller, Chairman of the Gazprom Management Committee had a working meeting today.

The meeting addressed the Company’s activities in the domestic and international markets. In particular, very positive trends in the area of export gas supplies were pointed out. For instance, in May 2015 Germany, major importer of Russian gas, increased its purchases by 68 per cent as compared to May 2014. Alexey Miller stressed that Gazprom could rapidly build up gas production and fully meet the peak demand of Russian and foreign consumers and that it secured the 100 per cent reliability of supply.

Alexey Miller informed Vladimir Putin about the status of the Power of Siberia project (eastern route of gas supply to China), which was advancing in strict compliance with the schedule as well as the progress with the pre-contractual activity on the western route.

Special attention was paid to Gazprom’s efforts on Russian regions gasification. Thus, since 2005 the rural gasification level has grown by more than 20 per cent – to 54.6 per cent (Russia’s average gasification level being 65.4 per cent).

Accreditation of reporters for annual General Shareholders Meeting of Gazprom to take place on June 22 and 23 - 17/06/2015

Accreditation of reporters for annual General Shareholders Meeting of Gazprom to take place on June 22 and 23

The Company’s annual General Shareholders Meeting will be convened in the Gazprom headquarters (16 Nametkina Street, Conference Hall, Bldg 2) on June 26, 2015, at 10:00 am Moscow time.

Media will have the opportunity to shoot video and photos of the annual General Shareholders Meeting opening ceremony. The Meeting will be broadcast live from the Press Center. After the Meeting (around 4:00 pm) reporters and representatives of investment & finance companies will have the opportunity to participate in the final Press Conference by the Chairmen of the Company’s Board of Directors and Management Committee.

Accreditation of reporters and representatives of investment & finance companies for the Meeting will be held on June 22 and 23, from 10:00 am to 6:00 pm in the Gazprom headquarters at 16 Nametkina Street, Bldg 2, Room 334. /Travel route: ride the 1st car of the train going from downtown to the Noviye Cheryomushki subway station, then take a No.60 trolley to the Novocheryomushkinskaya Ulitsa bus stop. Reporters are to show their editorial ID cards and passports in order to be admitted inside the building/. Accreditation via phone, fax or e-mail is not allowed.

Due to the limited space of the Meetings Press Center, each media outlet registered in the Russian Federation can receive accreditation for not more than one reporter and one photographer. Accredited camera crews should not exceed 3 persons.

During the accreditation procedure media and representatives of investment & finance companies will receive the Meeting-related information materials and accreditation badges. Access to Gazprom’s premises without the badges will be denied on the day of the Meeting.

Camera people will be admitted into the Meetings Hall from 9:00 am to 9:45 am. The rest of accredited reporters and representatives of investment & finance companies will be able to enter the Meeting Press Center from 9:00 am to 6:00 pm. Since it is not clear when the Meeting is over, reporters and representatives of investment & finance companies will have the opportunity to leave Gazprom’s premises and return by the commencement of the final Press Conference.

Phone numbers at the accreditation desks: +7 495 718-58-68, +7 495 718-63-77.

Accreditation via couriers will only be possible in case a power of attorney on the sealed editorial office (corporate) form is available.

Peterson and Veolia announce new Great Yarmouth decommissioning facility to support Southern North Sea - 17/06/2015

Peterson and Veolia announce new Great Yarmouth decommissioning facility to support Southern North Sea

Peterson, the international energy logistics provider in partnership with Veolia the UK’s leading environmental solutions provider, has today announced a £1million investment in the development of a new, purpose built decommissioning facility in Great Yarmouth.  The new site in Great Yarmouth port, operated with joint venture partner Veolia, and developed in cooperation with the, and with support funding from NewAnglia LEP, will provide operators in the Southern North Sea (“SNS”) with access to a full service decommissioning facility and Veolia-Peterson’s market leading expertise and experience.

The investment, announced today, (Wednesday June 17th) at EEEGR’s (East of England’s Energy Group) Westminster reception, will create a bespoke facility located in the western terminal of the recently developed Outer Harbour at Great Yarmouth port, enabling topside, jackets and subsea equipment to be off loaded for dismantling and recycling. Locating Veolia-Peterson’s expertise in Great Yarmouth will provide operators with a facility within easy reach of the SNS thus minimising the risk and costs associated with transporting infrastructure.  Due to be operational in July 2015, Veolia-Peterson expects to create up to seven new jobs initially, with this expected to increase in line with project requirements and market demand.  Peterson has been operating in Great Yarmouth since 1997 and employs 30 people at its existing facility providing quayside and logistics services.

James Johnson, decommissioning manager, Peterson said: “As recently highlighted by industry body Decom North Sea, costs for decommissioning North Sea offshore assets over the next decade are forecast to be around £14.6billion.  We have a real opportunity, working in collaboration with our partners, to establish Great Yarmouth as the centre for decommissioning for the SNS, delivering comprehensive, safe and cost effective decommissioning solutions.”  

Ian Williams, industrial services director at Veolia said: “This new decommissioning facility allows us to provide the oil and gas industry an even larger portfolio of facilities across the whole North Sea.  Through our established track record and unrivalled experience in compliance and reuse we can help customers exceed their environmental targets.”

Peterson was awarded £70,000 from New Anglia LEP’s flagship Growing Business Fund, to help establish the new facility. The centre, based at the Outer Harbour, is located on one of six sites on the Great Yarmouth and Lowestoft Enterprise Zone.

Chris Starkie, managing director of New Anglia LEP said: “We are extremely pleased to have played a part in securing this new project for our vitally important energy coast. Our funding, together with future private investment from Peterson, will launch Great Yarmouth and surrounding areas as a major new hub for decommissioning activity in the Southern and Central North Sea, a significant emerging sector estimated to be worth £125m in the next ten years.”

Eliza O’Toole, deputy chair of Great Yarmouth Port commented: “We are delighted that Peterson chose to locate their new facility in the Outer Harbour and to both build on, and to take advantage of, the deeply established expertise both in the Port and its hinterland in servicing the SNS.  The Port congratulates Peterson on their initiative and investment and welcomes this latest addition to the Port’s ongoing central role in supporting the SNS for decades to come.”  

Colleen Walker, chair of Norfolk County Council's Economic Development sub-committee said: “This is a significant deal for both Eastport and for Great Yarmouth, and I am delighted the County Council has been able to provide key guidance in order to help this deal come to fruition.  Decommissioning work will now take place at Eastport for many years to come – boosting employment opportunities locally, and reinforcing the East of England Energy Zone as the premier location for the energy sector.”

Cllr Graham Plant, the leader of Great Yarmouth Borough Council, said: “The fact that Peterson and other businesses continue to invest and expand within the borough – already a global capital for the energy sector – shows confidence in the borough, its expertise, supply chain and port facilities.

“The borough council was a key partner in the development of the Outer Harbour and in facilitating Veolia-Peterson’s decision to base its decommissioning operation there. As we celebrate 50 years of offshore operations from Great Yarmouth, I am delighted our partnership work is helping to create jobs, especially in this new, growing area of decommissioning.”

Tuesday, 16 June 2015

Delivering improvements, estimating workforce reductions - 16/06/2015

Delivering improvements, estimating workforce reductions

The effort to standardise, simplify and increase efficiency across Statoil enters the next phase. The potential workforce reduction is estimated at 1,100 – 1,500 permanent employees by end 2016.

In addition Statoil will further reduce the number of consultants by around 525. The estimate for workforce reductions reflects the STEP efficiency potential and further corporate improvements over the coming 18 months.

"We regret the need for further reductions, but the improvements are necessary to strengthen Statoil’s competitiveness and secure our future value creation," says Anders Opedal, executive vice president and chief operating officer in Statoil.

Simplification of work processes, clear accountability and enabling future growth opportunities guide Statoil’s continued improvement effort. Further changes and adjustments to the organisational set-up in the business areas to realise the full potential of the improvement program will be presented by the end of the month.

"Decisions on workforce reductions as a consequence of increased efficiency will be made in each Business Area, based on assessments involving leaders and employee representatives, and local consultation. When this is completed, we will know the accuracy of the current estimated range. This work will take place in the Business areas in the period from August to November," says Magne Hovden, senior vice president for People and organisation in Statoil.

The improvement programme and strict capital expenditure prioritization was initiated in 2013, addressing the industry wide cost and competitiveness challenge, well ahead of the current downturn.

Since end 2013 the workforce has been reduced by 1340 permanent employees and 995 external consultants. The reductions are achieved through more limited use of consultants, attrition, internal deployment into new positions, severance packages and early retirement. Recruitment has been very limited, but the company has upheld its focus on recruiting apprentices and graduates.

"We have so far solved the workforce surplus through voluntary measures, and maintain the ambition to conduct the people process over the next 18 months without forced measures," says Magne Hovden.

The implementation of the improvement agenda continues in coming weeks and months. The changes and actions from STEP have been decided after consultation with the employees’ representatives, and these will now be handed over to the Business Areas for implementation.

Statoil has committed to delivering USD 1.7 billion in annual savings from the improvement programme in 2016, and beyond.

New times, new challenges - 16/06/2015

New times, new challenges

The choice of this year’s theme for SPE Offshore Europe 2015, inspiring the next generation, empowers the industry to address both the technical and people challenges facing the oil and gas business today to secure future success. At the heart of this is a need to attract and encourage the next generation of talent into the industry.  

This free-to-attend global biennial event, the world’s largest upstream oil and gas conference and exhibition outside North America, will be held at the Aberdeen Exhibition and Conference Centre from 8-11 September 2015.

Over the four days there will be a series of keynote sessions, technical sessions, topical lunches and breakfast briefings. Alongside the conference, visitors will have the opportunity to view the latest technology, product and service exhibits from the global industry. Taking over an entire hall, the dedicated Deepwater Zone will comprise its own conference and exhibition programme. And, for the first time, the event will include a series of workshops and meetings to connect entrepreneurs and investors. An ambitious ‘Inspire’ programme aimed at the younger generation will feature as well. A key message throughout will be that the industry is far from over and that it has a long and bright future, despite the current difficult market conditions.

The keynote programme, chaired by Michael Engell-Jensen, Executive Director of the International Association of Oil & Gas Producers (IOGP), will feature 11 sessions focusing on the basic challenge of meeting energy demand while balancing concerns over climate change, security of supply and consumer affordability. Topics to be addressed include: health; the safety and security of people and assets; well intervention; financing investments; oil spill response; and inspiring the next generation to join the industry. 

The technical programme, chaired by Charles Woodburn, Chief Executive Officer, Expro, will present more than 75 papers, demonstrating that the industry’s engineering, manufacturing and technology excellence is set to assure a long-term sustainable future. Speakers drawn from all over the world will discuss topics such as asset and well integrity, maximising economic recovery, smarter field development, pipelines and risers, subsea processing, talent development, unconventional gas development, process safety, and decommissioning. 

As part of a new initiative for 2015, entrepreneurial visitors will have the chance to meet potential investors on Wednesday 9 September. After a morning of investment workshops presented from the operator, venture capitalist and entrepreneur perspectives, a limited number of companies will be invited to one-to-one meetings to discuss investment projects with some grant, early seed and direct industry funding providers.

Planning is also well under way on the Deepwater Zone, where a dedicated theatre will host industry experts presenting topical case studies and participating in panel discussions. This will give attendees the opportunity to learn about some of the very latest developments in the sector, with content programmed by Subsea UK and the Society for Underwater Technology (SUT). Subsea UK’s sessions will address deepwater developments and the future of inspection, repair and maintenance. 

SUT’s programme will focus on new technologies for efficiency and effectiveness, and subsea challenges for enabling deepwater production. In the event’s largest Deepwater Zone to date, more than 30 companies from this rapidly evolving sector will display their latest products and services. These range from equipment such as valves, imaging systems and underwater vehicles to well control and intervention products, specialist material solutions, and inspection services.

The exciting breakfast briefings and topical lunches are bound to sell out fast. On the opening morning, Tuesday 8 September, Steve Varley, UK Chairman and Managing Partner, EY, and Lars Christian Bachar, Executive Vice President, Development & Production International, Statoil, will speak at the Aberdeen and Grampian Chamber of Commerce business breakfast. Oil & Gas UK is organising a breakfast briefing on its Economic Report 2015 on Wednesday 9 September. Then, on Thursday 10 September, international oil and energy consultant, Manouchehr Takin, will chair the breakfast slot on ‘The price of oil, did market analysts forget about E&P?’ And on Friday 11 September the breakfast session will focus on feeding the pipeline of female talent in STEM. 

BP’s Bernard Looney, Chief Operating Officer, Production, is the confirmed lunch speaker on Tuesday 8 September. And on Thursday 10 September, the lunch session will be given over to a small operators’ panel chaired by Neil McCulloch, President, North Sea, EnQuest. Speakers will include: Oonagh Werngren, Operations Director, Oil & Gas UK; John Pearson, Group President Northern Europe & CIS, Amec Foster Wheeler; Matt Corbin, Managing Director, Aker Solutions; and Robin Allan, Director of Business Units, Premier Oil.

Meanwhile, on the exhibition floor, around 1500 global organisations will showcase their technologies, services and expertise. At least 280 companies, large and small, will be exhibiting for the first time at the show. Exhibitors will represent the complete supply chain of companies including operators, drilling contractors and oilfield service companies, consolidating Aberdeen’s established reputation as a supplier of services and products to global projects. 

With its emphasis on recognising the long-term need for a secure talent pipeline, the event will be running ‘Inspire’, its largest ever programme of activities for a younger audience. 
Charles Woodburn adds: “The short-term impact of the recent downturn on our industry has undoubtedly cast a shadow over the sector and its attractiveness to new and emerging talent. But, as the past has taught us, we cannot afford to lose our next generation as they play a vital part in advancing safety, innovation and the technology our industry demands.  While we must take action to respond to these challenging conditions, we need to maintain our focus on the high quality workforce of the future.”

A wide range of ‘Inspire’ events and workshops throughout the week, organised in advance by SPE and supported by OPITO, will allow students to engage with the industry face-to-face and learn more about this impressive industry.
With so many industry leaders and influencers under one roof, there will be ample opportunities to network with new contacts and catch up with colleagues from around the world.

Monday, 15 June 2015

High level conference to discuss how to bring fresh investment to the shipping sector - 15/06/2015

High level conference to discuss how to bring fresh investment to the shipping sector

Turning Theory into Reality

The first Maritime Standard Ship Finance & Trade Conference, organised by The Maritime Standard (TMS), will take place this year on 29-30 November at Park Hyatt Hotel in Abu Dhabi.  The event, which is endorsed by Federal Transport Authority – Land & Maritime UAE, and being hosted by Abu Dhabi Ports, will feature top level speakers from the worlds of finance, banking, ports, shipping and  maritime law.

The inaugural conference aims to bring together experts from these various fields with a view towards generating fresh investment for the shipping and ports industries, to the benefit of regional trade across the Middle East and Indian subcontinent.  Trevor Pereira, TMS managing director, says, ”We want to focus on how to turn financial  theory into  shipping and trade reality, and provide a high-level forum that through insightful speeches and networking opportunities generates mutual benefit to finance and shipping companies.”

The event will start with a networking reception on 29 November, against the backdrop of the Abu Dhabi Grand Prix which is being held that same day.  The conference itself starts on the following day, 30 November, and the caliber of the speakers confirmed is exceptionally high quality.  The keynote speaker session will feature presentations by H.E. Sheikh Talal-al-Khalid Al-Sabah, CEO of Kuwait Oil Tanker Company (KOTC); H.E. Sheikh Ali bin Jassim Al Thani, chairman and managing director of Milaha; H.E. Jamal Majid Bin Thaniah, vice chairman for DP World and group CEO for Dubai World;  H.E. Dr. Ali Obaid Al-Yabhouni, CEO for Abu Dhabi National Tanker Company (ADNATCO) and National Gas Shipping Company Ltd (NGSCO), UAE governor for OPEC and chairman for The UAE Shipping Association; H. E. The Honorable Shaukat Aziz, Former Prime Minister of Pakistan; Capt. Mohamed Al Shamisi, CEO for Abu Dhabi Ports Company; Eng. RashedAl Hebsi, CEO for Emirates Classification (TASNEEF); and Petros Doukas, former deputy minister of Finance and former deputy minister of foreign affairs.

H.E. Sheikh Talal-al-Khalid Al-Sabah, CEO of Kuwait Oil Tanker Company (KOTC), says, “The shipping industry is a hugely important market for the banking and finance sector and there are significant opportunities for growth over the next few years. Middle Eastern and Subcontinent-based shipowners are looking to expand and enhance their fleets, and are buying new and bigger vessels, and port operators are seeking to boost capacity accordingly to meet their customer’s requirements. It is particularly appropriate that this event is being held in Abu Dhabi, at the heart of the Gulf region, and I am sure it will provide a valuable opportunity for the shipping, ports and financial sectors to meet and plan to work together to mutual benefit over the years to come.”

There will be special sessions on regional trade patterns and ship finance; ports and shipping; and case studies showing how the finance sector has helped unlock the potential of the shipping and ports sector to benefit trade and economic development.  Each session will be followed by a panel discussion, chaired by Clive Woodbridge, editor of The Maritime Standard, and featuring some of the region’s top executives.
Trevor Pereira adds, “This is going to be a hugely important event that will bring together some of the most influential players in shipping, finance and port operations.  The world will want to hear what they have to say, and already demand for conference places is exceeding all expectations.” 

MagneGas Corp Starts Gas Production Operations - 15/06/2015

MagneGas Corp Starts Gas Production Operations

MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into a MagneGas fuel, announced today gas production has restarted on a limited basis. MagneGas has upgraded several design elements to its gasification units, related equipment and procedures.

"Today I am pleased to announce the re-start of gasification and the ramp up of MagneGas 2 production," commented Ermanno Santilli, CEO of MagneGas Corp. "Our team has been working very hard to re-start gas production and used this period to upgrade designs, equipment and safety procedures."

The MagneGas IR App is now available for free in Apple's App Store for the iPhone or iPad http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for Android mobile devices.

Rig and drilling contract for Johan Sverdrup - 15/06/2015

Rig and drilling contract for Johan Sverdrup

Statoil, on behalf of the Johan Sverdrup licence, has awarded two contracts at a total value of more than NOK 4.35 billion to Odfjell Drilling for drilling wells on the Johan Sverdrup field.
Odfjell Drilling has been awarded contracts both for the Deepsea Atlantic semi-submersible rig and for drilling services on the fixed drilling unit to be installed on the Johan Sverdup field.

The rig contract includes the charter of the Deepsea Atlantic rig for three years, starting from March 2016. In addition there are six 6-months options. The rig contract has a value of slightly more than NOK 2.5 billion.

“This contract is an important milestone for the Johan Sverdrup project. We have secured an efficient rig that will help maximise values from the field on competitive terms,” says Margareth Øvrum, Statoil’s executive vice president, Technology, Projects and Drilling.

“The Deepsea Atlantic rig will drill minimum 13 pilot wells on the field prior to production start from Johan Sverdrup in late 2019. This enables us to utilise the production capacity from Johan Sverdrup as efficiently as possible,” says Øivind Reinertsen, senior vice president for the Johan Sverdrup field.

Statoil has also signed a contract with Odfjell Drilling for drilling services on the fixed drilling unit on the Johan Sverdrup field complex starting in December 2018.

This contract has an estimated value of NOK 1.85 billion, and a duration of four years, including six 1-year options. Drilling from Johan Sverdrup’s fixed installation will be supported from Odfjell Drilling’s office in Stavanger.

“Johan Sverdrup will generate great values for the whole society for more than 50 years. Odfjell Drilling will work closely with our operations organisation in Stavanger to ensure safe operations and add maximum value in the Johan Sverdrup drilling and well processes,” says Reinertsen.
The drilling rig for the Johan Sverdrup field will be built by Aibel together with Nymo in Grimstad and National Oilwell in Kristiansand. In February 2015 Odfjell Drilling was awarded a contract by Aibel for engineering support for the construction of the drilling platform.

The company will also act as consultants during the rig engineering and construction process, ensuring an efficient and safe work environment in the operations phase.

The contract is an extension of the contract for drilling on fixed installations awarded in 2012, vesting the responsibility for the Grane, Visund, Heimdal, Njord, Snorre A/B and Sleipner installations in Odfjell Drilling.

These contract awards are subject to the approval of the plan for development and operation of the Johan Sverdrup field by the Norwegian parliament in 2015.

The investment costs for phase 1 of the Johan Sverdrup development are estimated at some NOK 117 billion NOK (2015 value). Recoverable resources are projected at between 1.4 and 2.4 billion barrels of oil equivalent.

The development concept for Johan Sverdrup phase 1 will consist of four installations, including a utility and accommodation platform, a processing platform, a drilling platform and a riser platform, in addition to three subsea templates for water injection.

The platforms will be bridge-linked. The project aims at a recovery rate of 70% for Johan Sverdrup.

The Johan Sverdrup partnership consists of Statoil, Lundin Norway, Petoro, Det norske oljeselskap and Maersk Oil. The partnership has recommended Statoil as the operator of all field phases.

Thursday, 11 June 2015

North Sea Wells Experts Get Serious With Abandonment - 11/06/2015

North Sea Wells Experts Get Serious With Abandonment 

In just over 3 weeks, +100 of the world’s leading well engineers, P&A, production and regulatory experts will meet in Aberdeen at the 3rd Annual Well Integrity and Abandonment Conference (30th June-1st July). This comes at a time when the new Oil and Gas Authority is able to revoke licenses and issue fines up to £1M.

Check out the full program right here to tackle high cost wells: http://bit.ly/1QLoO6n

Key speakers include:
•    Carlo Procaccini, Senior Commercial Advisor, Oil & Gas Authority
•    Simon Sparke, Expert Consultant, International Well Integrity
•    Anette Udengaard Goldbach, Senior Production Technologist, DONG Energy
•    Jip van Eijden, Team Lead R&D, Shell

Whether your well is producing, suspended or facing final abandonment, this is the only conference to unite integrity engineers at all stages of the well-lifecycle.  

By attending this unique conference, you will have ageing wells roundtable discussions with:
•    Well Examiner, Total
•    Senior Interventions Expert, BP
•    Wells Technical Authority, EnQuest
•    Wells Integrity team Leader, CNR International
•    Decommissioning Facilities Lead, Marathon Oil
•    Dunlin Area Commercial Manager, Fairfield Energy
•    Principle Engineer, PSA
•    Sjefingeniør, Norwegian Petroleum Directorate
•    Drilling Operations Manager, Addax Petroleum
•    Group Well Engineering Assurance Manager, Tullow Oil plc
•    Well Decommissioning Team Lead, Maersk
•    P&A Programs, Centrica
•    Chief Representative, Aramco