Thursday, 30 July 2015

Exxon Mobil Corporation Declares Third Quarter Dividend - 30/07/2015

Exxon Mobil Corporation Declares Third Quarter Dividend

The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) today declared a cash dividend of 73 cents per share on the Common Stock, payable on September 10, 2015 to shareholders of record of Common Stock at the close of business on August 13, 2015.

This third quarter dividend is at the same level as the dividend paid in the second quarter of 2015.

Through its dividends, the corporation has shared its success with its shareholders for more than 100 years and has increased its annual dividend payment to shareholders for 33 consecutive years.

Wednesday, 29 July 2015

Gazprom earmarks record-breaking RUB 10.8 billion to R&D - 29/07/2015

Gazprom earmarks record-breaking RUB 10.8 billion to R&D

The Gazprom Board of Directors approved the report on the progress in 2014 with Gazprom’s Innovative Development Program until 2020.

Gazprom Group continues earmarking considerable funds for financing research and development (R&D) activities. In 2014 a record-breaking amount in the whole Company history – RUB 10.82 billion – was devoted to these purposes. Gazprom is one of the leading Russian investors into innovations.

More than a half of these funds were channeled to priority engineering projects. Thus, for the first time a comprehensive engineering design was prepared for developing the Kharasaveyskoye gas & condensate field located partly onshore, partly offshore. The project economic potential equals some RUB 170 billion. An integrated process solution was designed for responding to accidental oil and petroleum product spills in ice conditions, which will allow for cutting the costs of these operations by 85 per cent.

The Meeting pointed out that, for instance, in 2014 considerable fuel and energy conservation was maintained: their specific consumption for auxiliary process needs dropped by 11.7 per cent compared to 2013. Specific greenhouse emissions in the CO2 equivalent were reduced by 2.4 per cent. In addition, last year the companies of Gazprom Group obtained 218 patents.

Gazprom continued to widely cooperate with research institutions within its innovative development initiatives. In addition, it went on actively interacting with Russian higher education institutions supported by the Company as well as improving the IP management system and the standardization system.

The issue on relations with Ukraine in the gas sector was heard. It was resolved to consider it in detail at another Board of Directors meeting.

More oil from Gullfaks - 29/07/2015

More oil from Gullfaks

Production from the Gullfaks South (GSO) fast-track project for improved oil recovery in the North Sea started on 27 July. GSO will increase the output from the Gullfaks area by around 65 million barrels of oil equivalent.

«GSO demonstrates how we can increase recovery and profitability by use of standardised, simplified development solutions tied to existing infrastructure,” says Arild Dybvig, vice president for fast-track projects in Development & Production Norway.

Production started three years after the project was approved. NOK 9 billion have been invested in the project.

«Helping utilise spare processing capacity, the project extends the Gullfaks A platform life beyond 2030,» says Marit Berling, vice president for Gullfaks operations.

GSO represents our focus on improved recovery, standardisation and industrialisation – in line with Statoil’s continuous effort of maximising value creation on the Norwegian continental shelf.

This project is part of Statoil’s fast-track portfolio, but it has a larger and more complex subsea scope than ordinary developments of this kind.

«Close to 800 vessel days and 2.3 million working hours have been completed with good HSE results. GSO is our most comprehensive fast-track project,» says Trond Bokn, vice president for subsea projects in Technology, Projects & Drilling.

The project also involved 370 drilling rig days. The drilling programme will continue through the first quarter of 2016.

GSO covers two subsea templates, four production wells, two gas injectors, a gas injection pipeline and a total of three production tubings, in addition to umbilicals and power cables for pipeline heating. There are a total of 22 subsea tie-ins.

Tuesday, 28 July 2015

BP Quad Milestone for Babcock’s Rosyth Site - 28/07/2015

BP Quad Milestone for Babcock’s Rosyth Site

A major milestone has been reached in Babcock’s delivery of 73 subsea structures for BP’s Quad 204 offshore redevelopment project, 130km west of Shetland, forming an integral part of the major investment in the upgrading and replacement of the subsea facilities to enable the full development of the reserves.

Two highly engineered Manifolds, the largest and most complex constructions within the project, have been manufactured, painted and outfitted, at Babcock’s Rosyth Facility on the Forth. With the combined weight of 326 tonnes the Manifolds are central parts of the 2015 installation programme.

The structures were transported to Lerwick by freighter and then transferred to a dedicated heavy lift vessel for installation at the Schiehallion and Loyal oil and gas fields, helping to extend production at the North Sea site until 2035.

Babcock, the UK’s largest engineering services support company, has also installed pipe spools and pressure tested the structures at Rosyth before handing them over to BP and its sub-contractors to carry out Controls Fit Out (CFO) and Site Integration Testing (SIT).

The Manifolds were joined on the journey to the North Sea production site by two Control Distribution Assemblies (CDA’s)

The Babcock project team also received an additional boost after being recognised at its own Health and Safety Awards having completed more than 800,000 working hours with no lost time due to accidents on the programme.

To date Babcock has delivered 65 of 73 structures including all of the 2015 programme requirements with the remaining 8 at advanced stages of the project lifecycle.

Charles Forrester Project Manager, Energy and Marine Services from Babcock said: “We are pleased to have delivered this hugely significant part of BP’s Quad 204 offshore redevelopment project. The Manifolds are major pieces of highly complex engineering and it is testament to the skill, ingenuity and hard work of our workforce that the structures are now on their way to play their part in accessing remaining hydrocarbon reserves in the Schiehallion and Loyal fields. We were also thrilled, to be recognised for our safety performance on this programme.”

Icon Scientific Launches New Viscometer Analyser - 28/07/2015

Icon Scientific Launches New Viscometer Analyser

Icon Scientific, the new leader in physical properties analysis for midstream and downstream production, has launched a brand new Viscometer product that joins its expanding range of world-leading process analysers.

Offering a highly accurate and repeatable measurement that determines the dynamic viscosity of a liquid, Viscometer’s flexible operation enables a range of petroleum products to be measured within the repeatability criteria of ASTM D445, including lube oils, lube oil stocks, biodiesel and fuel oils. Kinematic viscosity can also be calculated.

Viscometer’s reliable viscosity measurement is calculated by measuring the differential pressure across a capillary tube held at a constant temperature. Precise temperature control is achieved by immersing the measuring capillary in a small stirred heated oil bath. Viscometer can accommodate a wide range of pressures and temperatures at the inlet and can return sample direct to the process; the use of variable speed metering pump means the single capillary tube can be adapted for the wide range of viscosity measurements required by different products.

By offering an extensive range of measuring temperatures and sample inlet and outlet conditions, the need for additional sample handling components is minimised - enabling Viscometer’s overall system architecture to be streamlined for a more reliable measurement.

Viscometer boasts icon’s next-generation analyser design that integrates a state-of-the-art touchscreen user interface into a robust, explosion-proof housing.

A widescreen graphical user interface, and software that features a wide range of auto validation, calibration and in-built diagnostic options, makes operation simple. Alarm condition may be allocated as active or inactive, with alarms notified on screen and stored in an alarm history. Active alarms can be set to activate a warning alarm contact for notification, or a fatal alarm contact to suspend operation.

Digital control options include Wired Modbus RTU (RS485) and Modbus RTU over Ethernet (TC/IP) available as standard. OPC (wired) is also available.

Viscometer is certified to the latest ATEX, IECEx and TIIS (Japan) standards and is suitable for zone 1 or zone 2 uses, and is ETL listed for the USA and Canada Class 1 Div1 Group CD, depending on application.

“Accuracy is crucial when determining a product’s resistance to flow, with even minor measurement errors potentially costing producers hundreds of thousands of dollars if a blend adjustment is made,” says Kevin Fogarty, Managing Director, Icon Scientific.

“By engineering our optimised measurement technology on a proven testing method, Viscometer delivers an exceptionally accurate and trustworthy measurement.

Monday, 27 July 2015

Great Britain’s ACE Manufacturing and Service Exporter - 27/07/2015

Great Britain’s ACE Manufacturing and Service Exporter

Scottish winch and deck machinery specialist ACE Winches has announced it has been successful in securing and delivering £10m in equipment and services to the Far East.

This week ACE Winches’ CEO, Alfie Cheyne, joins a strong trade delegation accompanying the Prime Minister on the British Trade Export Mission to South East Asia.

Prime Minister David Cameron said: “Innovators like ACE Winches are leading the way in exporting manufacturing excellence to South East Asia and their delivery of various deals in the region – worth £10million – is credit to the skills and expertise of their workers across Scotland. I’m delighted they are joining me on my trade mission across the region, paving the way for even more success.”

A supplier of high quality manufactured products; ACE Winches was awarded a contract worth approximately £1m last week to supply equipment and manpower to serving operator ENI Indonesia for the Jangkrik Muara Bakau Block Project. The specific delivery is focused around ACE Winches Hire Equipment Business to support technically advanced well intervention and subsea well head deployment activities. To facilitate the trade agreements ACE Winches recently appointed Indonesian company Abumas in Jakarta as its local representative.

With an enviable reputation and successful track record in engineering, research and development, product design, manufacture, hire and delivery of bespoke products to support clients, ACE Winches works together in a model of collaboration with clients, operators and regulatory industry bodies including European design accreditation authorities and manufacturing to European normalised standards.

Supporting German heavy lift operator SAL Offshore BV, ACE Winches shipped, installed commissioned and delivered ex Paxocean Shipyard in Singapore, a mooring spread of ten large winches, power units and associated mooring accessories to allow SAL Offshore to anchor its flagship MV Svenja in the Cook Inlet in Alaska. ACE is proud to have successfully executed the delivery through cooperation with a multinational project team and client base of American, German, Singaporean and UK nationals. The value of this significant delivery with final completion scheduled for demobilisation in Singapore during August 2015 is in excess of £3m.

In May 2015 ACE Winches delivered a bespoke design and manufactured package of winching equipment, consisting of 150te Electrically Driven and PLC Controlled Stinger Winches, worth approximately £1.5m. The equipment will be used for deployment onboard McDermott’s Derrick Lay Vessel, the DLV2000, a combination heavy lift and pipelay vessel with deep water capability.  This vessel is scheduled for delivery from Keppel Singmarine Pte, Singapore in 2016. 

With the expertise of ACE Winches research and engineering teams, the company was commissioned by Heerema Marine Contractors to supply three large Chain Mooring Systems for operations onboard their deep water construction vessel Aegir to support the Ichthys LNG Project, 220 kilometres offshore Western Australia, for Japanese operator INPEX.  One of the world’s largest chain and winch packages manufactured to date. Delivered in June 2015 the winches will deploy and tension 178mm chain.  The export value exceeded £4m.

Continuing with a strong Asia Pacific link, delivered in May 2015, ACE Winches provided Helix Energy Solutions Group with deck machinery equipment worth over £1m for its new build semi-submersible well intervention vessel Q7000. The reeler package was shipped to Jurong shipyard, Singapore, for installation. The vessel is designed for global deep water, well intervention operations.

Alfie Cheyne, stated “Being part of this important UK trade delegation mission to Asia Pacific, will allow ACE Winches to further build its presence in the region, enhancing client relations and showcase it’s technologically advanced products and services.  The mission will endorse the excellence of British research and development, and high quality engineering solutions.”

Wednesday, 22 July 2015

Gazprom becomes Public Joint Stock Company - 22/07/2015

Gazprom becomes Public Joint Stock Company

The procedure of renaming Open Joint Stock Company (OJSC) Gazprom into Public Joint Stock Company (PJSC) Gazprom has finished.

The change in the Company's legal status is reflected in the new version of the Articles of Association approved by the annual General Shareholders Meeting on June 26 and registered under a statutory procedure on July 17. The Company's name was changed with a view to bring it in line with the provisions of Chapter IV of the Civil Code of the Russian Federation.

Chapman Freeborn targets Aberdeen energy market for on board courier expansion - 22/07/2015

Chapman Freeborn targets Aberdeen energy market for on board courier expansion

Chapman Freeborn Airchartering has announced the further expansion of its global on board courier (OBC) business with the launch of a new Aberdeen-based hand-carry team dedicated to serving the North Sea energy market.

The company – which also works with freight forwarders and multinational corporations providing aircraft charter services worldwide – has strengthened its local product offering in response to growing demand for time-critical shipments.

Jamie Evans, Chapman Freeborn’s sales manager for energy related services, says:

“With existing cargo charter clients regularly asking us for on board courier services it was a logical step to permanently base an OBC team in Aberdeen. It means we can now provide the full range of services – whether the client is looking to move a 1kg component by courier or a 100-ton piece of drilling equipment by charter.”

Chapman Freeborn’s OBC service provides door-to-door transportation solutions to connect businesses to markets worldwide - with dedicated hand-carry couriers accompanying shipments every step of the way.

The company manages all of the details for the urgent shipment, from flight bookings to entry requirements and customs regulations, anywhere in the world.

Available around the clock, the company’s fully insured and trained hand-carry couriers possess passports and visas for countries that are traditionally difficult to access. 

Alex Berry, global sales and marketing director, adds:

“Chapman Freeborn’s OBC service is different to other express models because the cargo isn’t being passed around or moving from warehouse to warehouse, with the added risks of being misplaced. Until they invent teleportation there really isn’t a quicker way of delivering a time-critical item from A to B.”

Tuesday, 21 July 2015

Majid Al Futtaim sets global benchmark with world’s largest shopping mall to achieve prestigious sustainability rating - 21/07/2015

Majid Al Futtaim sets global benchmark with world’s largest shopping mall to achieve prestigious sustainability rating

·         City Centre Mirdif mall in Dubai attains LEED Gold Existing Buildings Operation and Maintenance certification

·         Achieves certification in one of the hottest places on earth

·         18 months dedicated to working with 500+ retailers to achieve accolade

Majid Al Futtaim, the leading retail and leisure pioneer in the Middle East, has set a new global benchmark in sustainable retail development and property management with the world’s largest shopping mall to achieve a prestigious sustainability rating.

The U.S. Green Building Council confirmed City Centre Mirdif shopping mall in Dubai as the largest mall in the world to achieve the LEED Gold EBOM (Existing Buildings Operation and Maintenance) rating, which is located in one of the hottest places on earth.

A commitment to enhancing people’s lives through sustainable real estate is at the heart of Majid Al Futtaim’s business strategy. The company has set ambitious goals for 2018 to deliver results across three key areas – developing and managing high performance assets that support prosperous communities and in doing so deliver pioneering standards across its business.

The three million square foot City Centre Mirdif encapsulates the very best example of this five-year Sustainability and Green Building Strategy, which has set the standard for developers not just in the United Arab Emirates, but across the Middle East region. Through its assets, Majid Al Futtaim continually develops and advances its understanding of sustainable development, using innovative techniques to reduce impact on the planet and improve operational performance and efficiencies.

The initiative at City Centre Mirdif required co-operation from more than 500 retailers in the mall including Carrefour and leisure and entertainment brands VOX Cinemas, Little Explorers and Magic Planet. The mall operations team, retailers, and brands supported efforts by achieving targets across 110 category areas including alternative transport, water efficiency, waste management, green cleaning policies and efficient energy management.

Alain Bejjani, CEO of Majid Al Futtaim Holding, said: “We are witnessing a genuine drive of development projects pursuing increasingly higher levels of sustainability, with more companies seeking to embrace internationally-recognised standards. We lead by example by applying international best practices across our entire business operations and portfolio of brands. In doing so we support the economic and social development of Dubai and the wider Middle East region.”

The innovative sustainability practices, implemented by Majid Al Futtaim, signify the company’s leadership in the green building movement in MENA. The accomplishment also supports Dubai’s vision to become one of the most sustainable cities in the world by 2020, which forms part of the United Arab Emirate’s broader development and economic diversification goals.

Working in partnership with Enova by Veolia, a Majid Al Futtaim facilities and energy management provider, the success at City Centre Mirdif will serve as a catalyst to increase the adoption of sustainable building practices across the MENA region. Buildings that were previously ineligible to be considered for LEED certification can now target ratings, following the combined efforts of Majid Al Futtaim and the U.S. Green Building Council.

The harsh Middle East climate previously excluded buildings from achieving LEED EBOM, because of the high amount of energy consumption used for cooling (more than 60%), along with the complex nature of integrated malls in the region. Majid Al Futtaim pioneered this concept in the Middle East back in 1995, combining a variety of retail, leisure and hospitality businesses such as gyms, medical clinics, cinemas, hypermarkets, hotels and retail into one lifestyle destination.

Chris Dixon, Technical Operations Director, Shopping Malls at Majid Al Futtaim said: “The biggest hurdle was achieving the energy and atmosphere pre-requisite for energy requirements set by the U.S. Green Building Council. Working together for 18 months we developed a regression analysis model so that buildings in the region can become eligible for the certification for the first time. With malls open for 16 hours a day, and outside temperatures reaching over 50 degrees Celsius, it is far more difficult to acquire LEED Certification than other parts of the world, and until now wasn’t possible.”

Implementing this innovative governance structure for sustainability supports the Dubai Government’s vision and also upholds the United Nations Global Compact, to which Majid Al Futtaim became a signatory in 2013. Majid Al Futtaim has already achieved significant progress since the strategy was implemented two years ago including achieving high standards of energy efficiency. Since 2012, Majid Al Futtaim has saved over 11,000 megawatts, which is enough energy to supply electricity to over 200 households for an entire year.

Other areas where the company has made a significant impact across its assets include: USD $410,000 saved in hotels as a result of environmental investment, achieving LEED Gold certification on a third of its buildings including City Centre Mirdif, City Centre Fujairah, City Centre Beirut, and My City Centre Al Nasseriya and contributing almost USD $2 million towards community investment in 2014. 

Bejjani concluded, “We develop and manage better buildings that are highly environmentally efficient to deliver social and economic benefits to our communities, customers and supply chain. By embedding sustainability in our business we increase the value of our brand, boost long-term profitability, create new business opportunities, and maintain our talented workforce.”

Monday, 20 July 2015

Ethernet switches permit flexible communication - 20/07/2015

Ethernet switches permit flexible communication

•   Cost-effective entry-level devices with wide range of functions
•   Ethernet switches permit communication via Profinet or EtherNet/IP
•   Suitable for flexible use in manufacturing industry, process industry, logistics, building management systems, and transportation

Siemens is expanding its range of managed Industrial Ethernet switches with a new product line. The cost-effective Layer 2 Scalance XB-200 switches provide high data rates up to 100 Mbps and a multitude of functions. They support, for example, both the Profinet standard and the EtherNet/IP standard. Users can choose between both standards using a switchover function. As a result, the devices can be used for real-time communication in a variety of automation environments. The space-saving switches provide comprehensive functions for increasing safety and for configuration, diagnostics, and management of networks. Typical applications include machine networking in plants of the manufacturing industry and of the process industry such as oil and gas, pharmaceuticals, and chemicals. In addition, the switches can be used in logistics, building technology, and transportation.

The compact switches support VLANs (Virtual Local Area Networks) and are also certified for use in hazardous areas (IECEx/ATEX Zone 2/UL HazLoc). Security functions such as multicast blocking, loop detection and access control via Radius Server allow them to be integrated into security concepts for the protection of networks. Comprehensive SNMP (Simple Network Management Protocol) functions such as SNMP V3 allow the monitoring of large networks with monitoring tools such as Sinema Server.

The four device versions in a plastic enclosure with widths of 40 mm, 80 mm, or 120 mm save space in the control cabinet. With up to 16 electrical and three optical connections (SC, ST/SC, and SC LD), the devices offer great flexibility in choosing the right switch and can even cover distances up to 26 km in single mode. A new slide on the enclosure simplifies unlocking and allows easy manual installation of switches on the DIN rail.
Network communication is not interrupted even during a power failure due to the redundant power supply with two 3-pin connectors. The console port allows users to connect to a terminal for configuration, diagnostics, and management of the network using a CLI (command line interface). Alternatively, these settings can be made via the web interface of the Scalance XB-200.

A five-year warranty applies to the new Scalance XB-200, as for all Scalance products with delivery date January 1, 2015 or later.

Change in the Board of Directors of Kværner ASA - 20/07/2015

Change in the Board of Directors of Kværner ASA

Trine Sæther Romuld has informed Kværner ASA ("the Company") that she resigns from her position as non-executive Director and Chair of the Board's Audit Committee of the Company with immediate effect. This is due to change in employment to a position without opportunity to hold directorships.

According to Kværner ASA's Articles of Associations, the Board of Directors shall consist of six to ten members. Following the resignation of Ms Romuld, the Nomination Committee has decided not to propose replacing Trine Sæther Romuld before the next General Meeting, thus the Board of Directors of Kværner ASA now consists of eight Directors, whereof three employee-elected Directors.

Scorpio Tankers Inc. Announces Agreement to Sell Shares of Dorian LPG Ltd - 20/07/2015

Scorpio Tankers Inc. Announces Agreement to Sell Shares of Dorian LPG Ltd

Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced that it has agreed to sell 6 million common shares of Dorian LPG Ltd. (NYSE: LPG) owned by the Company to BW Euroholdings Limited, a wholly owned subsidiary of BW Group Limited, for a purchase price of $15.34 per share. 

The shares will be sold pursuant to an effective resale registration statement filed by Dorian LPG on July 8, 2015, and are expected to be delivered to BW Euroholdings Limited on or around July 22, 2015.

Following the sale, the Company will continue to own 3,392,083 shares of Dorian's common stock, which is approximately 5.8% of Dorian. 

Wednesday, 15 July 2015

Dry well near the Yme field in the North Sea - 15/07/2015

Dry well near the Yme field in the North Sea

Wintershall Norge AS, operator of production licence 734, is in the process of completing the drilling of wildcat well 10/4-1.
The well was drilled about 35 kilometres southeast of the Yme field in the North Sea.

The primary exploration target for the well was to prove petroleum in Upper Jurassic reservoir rocks (the Sandnes formation) and in Middle Jurassic reservoir rocks (the Bryne formation). The secondary exploration target was to prove petroleum in Upper Permain reservoir rocks.

Well 10/4-1 encountered approx. 90 metres of reservoir rocks in the Sandnes and Bryne formations with good reservoir quality. The well did not encounter a reservoir in Permian rocks. The well is dry. 

Data acquisition and sampling have been carried out.

This is the first exploration well in production licence 734. The licence was awarded in APA 2013.

Well 10/4-1 was drilled to a vertical depth of 2348 metres below the sea surface and was terminated in rocks from the Late Permian Age.

Water depth at the site is 98 metres. The well will now be permanently plugged and abandoned.

Well 10/4-1 was drilled by the Borgland Dolphin drilling facility, which will now proceed to drill wildcat well 6507/3-11 S in production licence 650 in the Norwegian Sea, where E.ON E&P Norge AS is the operator.

Dejour's Woodrush Oil Production Continues to Climb - 15/07/2015

Dejour's Woodrush Oil Production Continues to Climb

July 2015 Woodrush Oil Production Averages 397 BO/d
A 63% increase over Q1 Average of 244 BO/d

Vancouver, British Columbia,  Dejour Energy Inc. (NYSE MKT:DEJ) (DEJ.TO) (“Dejour” or the “Company”), an independent oil and gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announced an operational update for its project in NW Alberta.

Woodrush Project-Oil
As previously reported, Dejour tied into production the B-100 Halfway oil step out well and the A-100 Gething gas well from the 2014 drill program in Q1 2015. Due to the successful implementation of enhancements to the waterflood operation and well completions in Q1 2015, the Woodrush oil pool continues to experience significantly improved oil production  performance (July to date average of 397 BO/d). Logs, production graphs and waterflood data showing this improved performance will be provided to the Company’s independent reservoir engineers for consideration in the YE 2015 evaluation of the Company’s P&NG reserves. The Woodrush project currently includes 4 oil wells and 9 natural gas wells with significant processing facilities and in place pipeline to support further expansion.

Woodrush Project-Gas
The scheduled maintenance at the McMahon gas plant that curtailed production has now been completed.  Gas production at Woodrush shipped through the Spectra line is ramping up, currently averaging 1.8mmcf/d (300 BOE/d based on a ‘1:6’ ratio). The Company owns a 99% working interest in these wells and is the project operator.

“Our Woodrush project continues to deliver increased oil production as a result of executing on our mandate for excellence in reservoir management. We are pleased to resume our production profile and continue to achieve our targeted production objectives for 2015.  In  addition, we remain confident in our forecast for an aggregate resource portfolio of 26 Company wide gross wells producing an estimated 1200+BOE/d into the sales pipe by the end of Q3 2015, with commensurate cash flows available to continue to drive new development,” stated Robert L. Hodgkinson, Chairman & CEO.

Intertek’s First Abu Dhabi Technical and Safety Training centre receives accreditation from IWCF - 15/07/2015

Intertek’s First Abu Dhabi Technical and Safety Training centre receives accreditation from IWCF 

Intertek, a leading provider of quality solutions to industries worldwide, today announced that its first technical and safety training centre for oil and gas companies, located in Abu Dhabi, has received accreditation from the International Well Control Forum (IWCF). The centre will offer a variety of courses accredited by specialised global institutions such as, IWCF, UK and the International Association of Drilling Controls (IADC), USA. Well Control certifications are mandatory for all drilling professionals and are renewable every two years.  
The new centre will offer more than 30 different types of courses, and certifications will be facilitated by top regional and international experienced instructors. The broad range of standard and tailor-made training solutions are delivered through instructor-led training, team playing sessions, personal and group competence assurance schemes, as well as ‘at site’ coaching programmes, to prepare the trainees for drilling and safety procedures. The centre is equipped with two state-of-the art simulators that allow trainees to experience real-life well control situations. Moreover, all course materials are specially developed by Intertek’s technical team using advanced adult-learning methodologies, and are used across the company’s international training network. The first course “IWCF Rotary Drilling Well Control” is open for registration and will take place on 26th July 2015.

Hussain Al- Atrakchi, Regional Managing Director for the Middle East, North Africa & Pakistan, who said: “The new Abu Dhabi Training Centre represents a significant step for Intertek in delivering high quality training to meet the demands of both offshore and onshore operations across the Emirates and the region. It also creates a tremendous opportunity to leverage the overall skillsets and competencies of industry workforce, and allows them to keep their knowledge and certification up-to-date. The centre will bring the best quality training and instructors, offering advanced know-how and knowledge transfer for the oil & gas upstream and downstream professionals in the UAE and across the GCC region.”

Islam Abdallah, Consulting and Training General Manager for the Gulf countries, added: "The oil and gas field is a very challenging industry, and the new training facility is built to meet the clients’ ever-changing and complex training, coaching, and competency assessment needs. The centre will deliver Well Control, Drilling, Technical and Safety courses continuously throughout the year to match the customers’ demands. We will also cater to our clients’ requests for tailor-made consulting and training solutions".

Tuesday, 14 July 2015

‘Planning for the long-term should be the focus now’ say energy leaders - 14/07/2015

‘Planning for the long-term should be the focus now’ say energy leaders

UK energy industry leaders must take action now in order to capitalise on long-term opportunities according to a new white paper published by executive search specialists FWB Park Brown.  

The paper, based on discussions held at the company’s annual Leadership Dinner in Aberdeen attended by around 140 senior personnel from the sector, identified a list of ‘mega trends’ that are most likely to influence the future of the oil, gas and wider energy industry over the next generation. 

Joined by keynote speaker Ian Marchant, chairman of Wood Group, attendees listed the increasing influence from Asia, changes in energy demand, resource scarcity, unburnable carbon, digital technology and changing business models as crucial areas for consideration for decision makers.

With the G7 nations aiming to significantly reduce reliance on fossil fuels by 2050 and The International Monetary Fund recently announcing an end to fossil fuel subsidies, there was a consensus that businesses need to be prepared to adapt to a new operating environment.

Attendees agreed that the impact of this was likely to be first felt in exploration followed by high cost production centres, such as the North Sea.

The tone of the conversations was positive however, with many long-term opportunities in the UKCS discussed throughout the evening.

One attendee said: “There may be growth in areas such as carbon capture and storage as a result of changes elsewhere. We have clear notice that energy businesses as we know them today will likely have to adapt and change, whether it be in 40 or 80 years. However, staying ahead of the game will require positive action from those of us in the industry.”

Attendees backed the impact of new technology on the region. However, one attendee highlighted that a clear balance would have to be struck: “Leaders must ask themselves if data is the same thing as wisdom? Where are the boundaries between the two? We need to be conscious that we don’t become too reliant on one at the expense of the other.”

When the debate turned to resource scarcity, fossil fuels and clean water gave way to a discussion around nurturing the next generation of talent coming into the industry, something that has been discussed at length within the North Sea industry in recent years:

“This is a resource that has to be cultivated and managed as much as any other by us. An increased global connection of human intelligence thanks to better communications has real potential to be a force for greater good within the industry,” said one audience member.

Following the event Stuart Cochrane, director, FWB Park Brown, said: “We wanted to provide a timely opportunity for decision makers to seriously consider what the next generation of the industry should look like, and what they need to do now to make that a reality. Despite the low oil price and high cost base, there are still clear opportunities within the UK energy sector.   

“The feeling on the night was that the industry here now has to regroup and leaders have to be at the forefront in embracing new thinking and adapting to the operating environments of the future.”

Drilling permit for well 7220/6-2 in production licence 609 - 14/07/2015

Drilling permit for well 7220/6-2 in production licence 609

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7220/6-2, cf. Section 8 of the Resource Management Regulations.
Well 7220/6-2 will be drilled from the Island Innovator drilling facility in position 72°34’13.13” north and 20°58’19.97” east.

The drilling programme for well 7220/6-2 relates to the drilling of a wildcat well in production licence 609. Lundin Norway AS is the operator with a 40 per cent ownership interest, and the licensees are Idemitsu Petroleum Norge AS with 30 per cent and RWE Dea Norge AS with 30 per cent.

The production licence consists of the blocks/part of blocks 7220/6, 7220/9, 7220/11, 7220/12 and 7221/4. The production licence was awarded in the 21st licensing round in 2011.

Wildcat well 7220/6-2 will be the fifth exploration well in production licence 609.

This permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

Monday, 13 July 2015

Subsea 7 announces global alliance with OneSubsea - 13/07/2015

Subsea 7 announces global alliance with OneSubsea


Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today that it has signed an agreement establishing a worldwide non-incorporated alliance with Houston- based OneSubsea®, a Cameron and Schlumberger company, to jointly design, develop and deliver integrated subsea development solutions through the combination of subsurface expertise, subsea production systems (SPS), subsea processing systems, subsea umbilicals, risers and flowlines systems (SURF) and life-of-field services.

The alliance will bring together Subsea 7’s experience and technology in seabed to surface engineering, construction and life-of-field services with OneSubsea’s unique reservoir expertise and state-of-the-art subsea production and processing systems technologies. The alliance will combine both companies’ resources to collaborate on selected projects, engaging early to improve field development planning from the reservoir to the production facility. By combining the complementary capabilities and market- leading technologies of OneSubsea and Subsea 7, the alliance will work collaboratively with clients to design, develop and deliver integrated SPS and SURF solutions which will enhance project delivery, improve the recovery, and optimise the cost and efficiency of deepwater developments for the life of the field.

Jean Cahuzac, Subsea 7 Chief Executive Officer, said: “This combination of subsurface, SPS, SURF and life-of-field expertise is unique in its breadth of integrated service offering and provides clients with the opportunity to significantly improve subsea field economics over the lifetime of the development. I am looking forward to developing further our relationship with OneSubsea as we will be able to capitalise on the synergies between our strong technology portfolios and develop joint technologies to improve our offering for our clients.”

Mike Garding, OneSubsea Chief Executive Officer, said: “The technology and expertise from Subsea 7 perfectly complements OneSubsea’s Pore to ProcessTM business strategy to offer a holistic approach to subsea development solutions. Our established competencies in subsurface modelling and production systems engineering will be further strengthened by integrating the SURF expertise provided by Subsea 7. By integrating these key areas of expertise, we can reduce further risk and uncertainty to deliver the optimal solution for our clients to produce cost-effectively from subsea reservoirs.”

Thursday, 9 July 2015

LB Construction Completes MagneGas Roll-Out, Endorses Product - 09/07/2015

LB Construction Completes MagneGas Roll-Out, Endorses Product

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 LB Construction, Inc. of California has completed its assessment of MagneGas and has implemented the use of the fuel for metal cutting for current and future products.

LB Construction was previously announced as a confidential major construction company from California that had placed its first order.  Since that time, they have completed implementation of the product and have formally endorsed MagneGas publicly.   

LB Construction has been operating for over twenty years in three states with projects in steel, drywall and carpentry.  They selected MagneGas® for their metal cutting due to the quality of the cut and the fuel's reduced environmental impacts.  MagneGas anticipates that additional orders will be placed in the coming weeks for multiple construction projects. 

"After our first demo, we noticed immediately that MagneGas could provide us with a significant increase in speed and a reduction in time to treat a cut due to how clean it is.  We were able to double our cutting speed on our track table. We are currently using MagneGas for shop fabrication and field cutting. We are excited about the renewable components and added safety MagneGas brings to our production," stated Vance Lancaster, Vice-President of LB Construction. 

Nord Stream II to enhance reliability of Russian gas supplies to Europe - 09/07/2015

Nord Stream II to enhance reliability of Russian gas supplies to Europe

A working meeting took place in Berlin yesterday between Alexey Miller, Chairman of the Gazprom Management Committee and Sigmar Gabriel, German Vice-Chancellor, Federal Minister for Economic Affairs and Energy.

The meeting addressed the reliability of Russian gas supplies to Europe and the progress with the Nord Stream II project.

The parties pointed out the success of construction, high operational efficiency and environmental safety of the Nord Stream I gas pipeline and also highlighted the importance of creating new direct routes for Russian gas supplies to Europe amid the declining domestic production in European countries.

Kvaerner awarded additional work at the Nyhamna gas plant - 09/07/2015

Kvaerner awarded additional work at the Nyhamna gas plant

AS Norske Shell has awarded Kvaerner a project to harmonize the power supply interaction between the Nyhamna gas plant and the national grid, under the current EPCm frame agreement. Planning and execution of the project will commence immediately.

Kvaerner was the main contractor for the initial development of the Nyhamna onshore gas treatment facility, and was in April 2012 awarded an EPCm frame agreement for Nyhamna, which include the Nyhamna Expansion. In addition to the already ongoing work, Kvaerner will now also handle the installation of a reactive power mitigation and circuit breaker (SVS), which is needed to meet the Norwegian grid regulator's requirements for voltage and reactive power excursions.

In connection to the installation of the SVS system, Kvaerner will also be responsible for ground preparation and civil works, and for all interface design and installation. ABB will deliver the SVS system, as a subcontractor to Kvaerner.

"Kvaerner is a leading supplier for onshore oil and gas facilities, and has been a key contractor for seven out of the largest onshore facilities in Norway. At Nyhamna, which is a plant in operation, we see that good planning and precise execution is vital to ensure safe operations and minimum interruption of the valuable gas treatment process. We have a clear ambition to grow Kvaerner's onshore business further. We use the expertise to systematically improve our HSSE performance, productivity and quality, so we can offer our customers predictable project results," says Olav Jan Støve, executive vice president for Kvaerner's business area Onshore.

Detail design will commence immediately. Civil works at site is scheduled to start early third quarter 2015 and Installation will begin summer 2016. ABB's cold commissioning is scheduled to be completed fall 2016.

The contract will be booked as order intake for Kvaerner in second quarter 2015.

Wednesday, 8 July 2015

Data Availability Bias in Oil Market: Kemp - 08/07/2015

Data Availability Bias in Oil Market: Kemp

Why is there such good data about oil in the United States but such poor data about everywhere else? 

Accurate information is essential for good decision-making, so it is remarkable how little reliable and timely data exists about the production and consumption of crude oil and refined fuels outside the United States. 

The situation in the other advanced economies, not to mention emerging markets, is mostly guesswork. 

The result is that oil analysts cannot even agree on production and consumption yesterday and today, let alone predict what will happen tomorrow. 

And because the best and most readily accessible data is for the United States, the market puts excessive emphasis on what happens there and neglects developments elsewhere. 

The obsession with weekly rig counts, production estimates and crude inventories in the United States as a sign of wider supply-demand trends in the oil market has been a case in point. 

But as long as U.S. data is more accurate, detailed and timely than the numbers for other countries, this example of "availability bias" is set to continue. 

ENERGY CRISIS 
Some U.S. data comes from private companies such as Baker Hughes, which inherited the decades-old rig count from the Hughes Tool Company, but most is produced by the federal government. 

The U.S. Energy Information Administration, the independent statistical and analysis arm of the Department of Energy, provides by far the best data on oil and other energy markets anywhere in the world. 

The EIA's magnificent data collection and publication effort was born amid bitter recriminations about the federal government's failure to foresee the energy shortages of the 1970s. 

In early 1974, just months after Arab countries embargoed oil exports to the United States, more U.S. voters blamed oil companies and their own government for shortages and price rises than the oil exporters. 

"The real trouble in the energy crisis is that the government does not seem to know how serious the shortage will be", according to 53 percent of those questioned in one survey conducted in February 1974. 

Widespread suspicions arose that oil and gas companies were exacerbating the crisis by deliberately withholding production to drive prices higher. 

Even as late as 1979, more people were blaming high prices on companies deliberately withholding oil and gas production (65 percent) and refusing to drill wells unless prices were raised (61 percent) than OPEC (59 percent). 

"Neither industry nor government had given the public advanced warning of energy shortages. Even after they occurred, there seemed to be no clear explanations or comprehensible data," historian Richard Vietor wrote later about the confusion and conspiracy theories ("Energy Policy in America", 1984). 

Reputable publications including Newsweek, Time and the Washington Post were filled with articles suggesting domestic oil and gas producers were colluding with the Organization of the Petroleum Exporting Countries to engineer shortages and raise prices. 

"The news media only added to the confusion. Mistrust abounded as to the reality of the crisis and its causes," Vietor concluded. 

Conspiracy theories flourished because it turned out the government relied almost exclusively on the oil and gas industries for information on the state of production and reserves. 

"In terms of getting the facts in the energy area, the federal government has completely delegated their responsibility to the oil industry," complained the chairman of a congressional committee. "This deplorable situation has to end." 

Senior officials from the administration testified they were satisfied with data they received from the National Petroleum Council, the American Petroleum Institute, the American Gas Association and other industry associations, but Congress was adamant the government needed its own independent information. 

"The American people want to know if there is an oil shortage. The American people want to know if there are oil tankers anchored offshore waiting for a price increase or available storage before they unload. The American people want to know whether major oil companies are sitting on shut-in wells and hoarding production in hidden tanks and at abandoned service stations," Senator Henry "Scoop" Jackson demanded to know. 

Jackson chaired the powerful Senate Permanent Subcommittee on Investigations and turned the heat up on the industry. 

"The American people want to know why oil companies are making soaring profits. The American people want to know if this so-called energy crisis is only a pretext, a cover ... to raise prices, to repeal environmental laws and to force the adoption of new tax subsidies," Jackson wondered in January 1974. 

DATA DEMAND 
Between 1973 and 1975, at least 25 of the 39 permanent congressional committees then in existence held hearings into some aspect of the energy crisis. 

The recurrent theme through the 1970s was the need for better data. Congress published reports on everything from "Conflicting information on fuel shortages" (1974) and "Energy data requirements of the federal government" (1974) to "Energy information shortcomings and the gasoline shortage" (1979). 

From this was born the most ambitious and comprehensive effort ever undertaken by any country in times of peace to collect detailed information on the production, processing, distribution and consumption of energy. 

The Federal Energy Administration Act, enacted in May 1974 when memories of the crisis were still sharp, established a post of federal energy administrator and endowed it with sweeping powers to take such actions as necessary "to assure that adequate provision is made to meet the energy needs of the nation" (Public Law 93-275). 

The administrator was empowered to "collect, evaluate, assemble, and analyze energy information on reserves, production, demand and related economic data" (section 5(b)(9)).


"All persons owning or operating facilities or business premises who are engaged in any phase of energy supply or major energy consumption shall make available to the administrator such information and periodic reports, records, documents and other data ... as the administrator may prescribe by regulation or order", the law stipulated (section 13(b)). 

In case that was insufficient, the law gave the administrator power to issue compulsory surveys and questionnaires, conduct physical examinations of plants and subpoena evidence (sections 13(c)-(e)). 

AVAILABILITY BIAS 
The Federal Energy Administration was subsequently reorganised and its information-gathering powers assigned to a new Energy Information Administration within the Department of Energy. But the sweeping powers conferred at the height of the energy crisis remain the basis for the agency's unrivalled collection and analysis efforts to the present day. 

In 1995, the agency became the first component of the Energy Department to launch its own website. It now has more than 1.5 million visitors to its website every month and over 200,000 web pages ("EIA celebrates 20 years on the Internet", June 30, 2015). 

The problem is that no other country provides anything like the same quality and depth of information about its energy industries. 

Other advanced economies such as Britain, Germany and Australia provide data that is less comprehensive and far less timely, often on websites that are byzantine in their complexity. 

In the case of emerging markets like China and Saudi Arabia, the data is either missing or considered a state secret. 

With emerging markets accounting for more than half of global oil demand for the first time in 2013 and 2014, most of the oil market is now opaque. 

Inevitably, analysts, traders, investors and journalists tend to focus on the most readily available information and then extrapolate to the rest of the market, a variant on the data availability bias identified by behavioural economists. 

Congress's preoccupation with data in the 1970s explains why we have such rich information about what is happening in the United States. 

But it has created an enormous distortion. Better data on the rest of the world and especially emerging markets must be the top priority if policymakers want energy markets to operate more smoothly.

Revitalized Subsea Integrity Conference’ declares independence from DecomWorld - 08/07/2015

Revitalized Subsea Integrity Conference’ declares independence from DecomWorld

The 3rd Annual ‘Subsea Integrity Conference’, hosted by DecomWorld is now confirmed to return to Houston on October 5-6 2015, and not only features an exciting line up of expert speakers; it is now being delivered by the all new Upstream Intelligence brand.

“Serving as Houston’s foremost subsea hub, there is no doubt this meeting will define the future trajectory of the subsea market as it overcomes oil price uncertainty,” explains Kerr Jeferies, Senior Industry Analyst at Upstream Intelligence.

Critical topics such as CPM data control, inspection strategies, brownfield IM and subsea standardization will be covered in a revitalized format.

This includes a unique half-day workshop working with Jee’s specialist subsea engineering tutor to assess the critical tools and pioneering strategies you should deploy to secure the reliability of high-risk subsea systems and avoid resorting to high-cost interventions.

Our leading-edge Subsea Engineering Masterclass, evaluates the very latest tools, strategies and methodologies being used to remediate critical subsea system failures sessions and features case study insight from likes of Chevron, Transocean and others.

Interactive debates with keynote operator panels, such as our unique Brownfield IM Executive Panel chaired by Adriana Botto, VP SURF IM, Wood Group Kenny, will provide unprecedented insights from the GOM’s foremost subsea specialists.

“With a program shaped by the subsea industry, for the benefit of the subsea industry, we expect this year’s conference to be even more valuable than last year, “explained Kerr.

These hot topics can help attendees:
 Take control of data and transition to an ‘integrated’ CPM system which transforms data into automated analytics;
 Evaluate material performance requirements for high stress environments and understand how to effectively mitigate performance fatigue;
 Get the latest insights into leading JIP initiatives developing robust subsea trees, boosting separation systems for HTHP environments; &
 Reverse cost escalation by identifying opportunities to standardise or simplify technical specifications for new subsea equipment;
 Troubleshoot subsea equipment failures that will help to map out gaps in today’s subsea solutions market affecting power, corrosion/vibration, FA, CPM sensor networks, interventions and more.

This ground-breaking conference is drawing a more diverse audience than ever before with more than 200 operators, contractors and service providers expected. Chevron, Shell, Hess, Wood Group, Aker Solutions, Clarus Integrity and others will lead the industry’s drive towards a proactive and robust subsea integrity strategy, have already confirmed their participation.

With 39 major subsea construction contracts agreed in the first quarter of 2015, Upstream Intelligence spoke with Quest Offshore Resources, Inc. to get their exclusive take on the factors driving investment in subsea infrastructures this year.

Extensive insights and white papers will be released ahead of the conference. Don’t miss out on the exclusive list of all on-site workshops, training and closed seminars which have been designed to provide first class opportunities to quiz and engage with the subsea industry’s most elite specialists.

“Why not pre-order your own brochure today? You’ll have access to all our exclusive papers, reports, interviews and infographics which will be sent straight to your inbox. This includes ‘The Growth Imperative: A Global Subsea Market Forecast to 2019’, “says Kerr.

This free paper enables attendees to:
 Understand the factors that make the subsea industry such a safe bet for investment in new technology and construction;
 Evaluate why lessons learned from Brazilian pre-salt developments are actually driving investment towards Mexico; &
 Receive an exclusive 2015-2019 forecast on subsea tree awards

Tuesday, 7 July 2015

Dejour Issues Kokopelli Completion Update - 07/07/2015

Dejour Issues Kokopelli Completion Update

Flagship kokopelli Project Frac Operations Commence July 2015

Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announced an operational update for its project in NW Colorado.

Since the commencement of the current phase of Kokopelli in September 2014, Dejour, together with its operating partner (the “Operating Partner”), have completed the drilling, casing and testing of the produced water disposal (PWD) well on Pad 21A, vital to the economics of the ongoing Kokopelli production programs. This well is now ready to equip as a disposal well for produced water for all wells expected to be drilled in the future on the Jolley Mesa portion of the south lease at Kokopelli.

Subsequently, on Pad 21B, less than 500 yards away, Dejour and its Operating Partner successfully drilled and cased 7 Williams Fork wells (Federal 14-15-1-21 through Federal 14-15-8-21) and a single vertical 13600’ Mancos test well (Federal 14-15-7-21) as contemplated in the original 2014 drill program by the Operating Partner.

Logs to date of the Williams Fork indicate production profiles consistent with existing current production. Logs of the Mancos section encountered in the last well indicate the presence of gas throughout this deeper zone.

The completion phase of this program is underway. The PWD well is currently being equipped for injection and the installation of facilities for production of the eight production wells is scheduled including gathering lines to the original Pad 21A.

Completion contracts have now been finalized (at an appropriate discount to previous cost estimations) utilizing the best frac intelligence available for each of the Williams Fork and the Mancos (Niobrara) well completions. These operations are scheduled for the second half of July 2015 and are expected to take up to 30 days, barring complication. Dejour will update this report when continuous well flow rates are available, following the tie-in of these wells into production lines.

All Dejour cash calls have been paid.

Dejour has a 25% working interest at Kokopelli. The production from the liquids rich Williams Fork is very important, but the successful establishment of robust gas volumes from the high pressure Mancos would alter significantly both the production profile and reserve value of Dejour’s interests.

“We will be very pleased to see the added production (estimating 500+ BOE/day net to Dejour) from this core project into the sales pipe in Q3 with multi-zonal potential. We thank our Operating Partner for their successful efforts in negotiating cost reductions for this phase of the project.  In addition, our Woodrush project is delivering increased oil production, a direct result of executing on our mandate for excellence in reservoir management.  With expanded access to low cost credit, Dejour is positioned to achieve its’ 2015 production objectives. We are now prioritizing the development of other key holdings in our resource portfolio,” stated Robert L. Hodgkinson, Chairman & CEO.

Local Content Front And Center For Browse FLNG Development - 07/07/2015

Local Content Front And Center For Browse FLNG Development

Woodside Energy Ltd. and OneSubsea®, a Cameron (NYSE: CAM) and Schlumberger (NYSE:SLB) company, jointly announce that OneSubsea has been awarded a front-end engineering and design (FEED) contract for the proposed Woodside-operated Browse FLNG Development offshore northwest Australia.

A dedicated team of OneSubsea experts, operating out of OneSubsea's Perth city office, will now work collaboratively with Woodside to fully define and determine the optimal subsea production system design and equipment requirements for the Browse FLNG Development.

The contract will involve up to 20 locally employed people working on the subsea scope over the next 12 to 18 months as Woodside prepares for a final investment decision (FID).

The scope was tendered to internationally and locally based suppliers. OneSubsea was selected with a competitive proposal reflecting the current economic climate.

Woodside CEO Peter Coleman said the contract award is the first of a number anticipated to be awarded in the future to Australian-based engineering firms, manufacturers and suppliers associated with the subsea elements of the Browse FLNG Development.

"Our local content commitment is focused on working with Australian-based suppliers with world-class capabilities to partner with us on our operations and developments," he said.

In 2013, OneSubsea opened a state-of-the-art life-of-field facility in Kewdale, Western Australia that was built to support Woodside and other operators in the region. The facility will be key in the development of this project.

Jack Moore, Chairman and CEO of Cameron, a parent company of OneSubsea, said, "engaging early with clients in the project life cycle is key to determining the optimal, cost- effective solution that aims to maximize project returns in the current economic environment. This has been our approach with Browse and we are excited to have been selected for this award."

"Through further collaboration with Woodside on this important FEED, we will be able to apply the wide breadth of expertise OneSubsea has to provide the optimal range of field development options that align with the project's goals," he said.

The contract award is the first under OneSubsea's frame agreement with Woodside signed in January 2014.

Under the terms of the five-year frame agreement, OneSubsea is qualified to supply subsea equipment and services, including subsea engineering services and life of field services, for selected Woodside developments offshore Australia.

The Browse FLNG Development is proposing to commercialize the Brecknock, Calliance and Torosa fields - collectively known as the Browse resources – which are estimated to contain gross (100%) contingent resources (2C) of 15.4 trillion cubic feet (Tcf) of dry gas and 453 million barrels of condensate1.

Woodside is targeting a FID on the proposed development in the second half of 2016.

Gazprom and BASF hold meeting of Coordinating Committee for Strategic Cooperation - 07/07/2015

Gazprom and BASF hold meeting of Coordinating Committee for Strategic Cooperation

Gorno-Altaisk hosted another meeting of the Coordinating Committee for Strategic Cooperation between Gazprom and BASF.

The meeting was led by the Committee Co-Chairmen – Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Hans-Ulrich Engel, Member of the BASF Board of Executive Directors. Attending the meeting was also Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee.

The Coordinating Committee members addressed the performed projects of Gazprom and BASF/Wintershall in the area of natural gas exploration, production and transmission. Additionally, the meeting heard information concerning the joint actions in the sci-tech sector, petrochemistry, energy efficiency upgrade as well as staff training and skills development.

Special consideration was given to the development of the Yuzhno-Russkoye field, which produced a total of 177 billion cubic meters of gas since commissioning. The success of the project for developing the Achimov deposits of the Urengoy field was also highlighted. The volume of gas production there accounts for 12.9 billion cubic meters today. Both projects are progressing on schedule and follow the development plan.

As part of the companies' cooperation in petrochemistry, the meeting paid attention to the interim results of the joint efforts within the Action Plan for 2014–2015 covering the enhanced oil recovery with a focus on chemical methods, associated petroleum gas, gas treatment, petrochemicals, chemistry of construction materials and polymers.

The Coordinating Committee also touched upon the sci-tech cooperation, pointing out such promising areas as the effective development of gas and gas condensate fields, improved operation and maintenance of gas mains and compressor stations, up-to-date methods and tools of operations control as well as environmental protection.

In addition, the Committee members addressed the results of skill development efforts. All in all, 213 staff members from both companies participated in joint seminars in 2014.

At the end of the meeting the parties reviewed action plans for joint programs in 2015 as well as new forms of cooperation and future projects.

Monday, 6 July 2015

The first subsea wet gas compressor in the world at Gullfaks - 06/05/2015

The first subsea wet gas compressor in the world at Gullfaks  

After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Gullfaks C platform in the North Sea.
In May and June Gullfaks subsea compressor project (GSC) completed successful structure and module installation campaigns for the subsea station. The compressors were installed at the end of June. 

Subsea wet gas compression at Gullfaks C will add 22 million barrels of oil equivalent, and extend plateau production by about two years.
“The installation campaigns have been successfully performed by Subsea Seven,” says project manager Bjørn Birkeland. The project has now entered the last phase, testing and preparing for hand-over and start-up in the last quarter of this year. 

“This is the first compressor of its kind in the world. It is a milestone, not just towards the compressor start-up, but also for Statoil’s subsea factory visions,” says Steinar Konradsen, owner representative for the project.

Testing of the complete compressor station still remains, but this work is underway and the project is on schedule. 

Considerable preparations for the start-up of the subsea compressor have been made on Gullfaks C as well. This work, performed by Apply Sørco, is now in the final stages.

The compressor represents a robust and flexible measure to improve oil recovery (IOR) for the Gullfaks licence. The compressor will now be hooked up between the L and M subsea templates and Gullfaks C. It is also possible to tie in other subsea wells to the compressor through existing pipelines.  

This may have benefits far beyond the assumptions at the basis for the project decision.

“Subsea wet gas compression is a game changer for subsea processing, and an important technology to increase recovery also on other fields,” Konradsen emphasises.

The protective structure and compressor station were installed in early May by the heavy lift vessel Oleg Strashnov. On 26 June the compressor and cooling modules were lowered into place from the Seven Viking.

The plant will be tied back to the Gullfaks C platform in the late summer and autumn.

Two important projects

The Gullfaks technology solution is a wet gas compressor which does not require any treatment of the well stream before compression. 

Subsea compression provides a greater effect than a conventional topside compressor. In addition the platform avoids extra weight and space required by a topside compression module. 

Statoil is currently implementing two subsea compression projects at Åsgard and Gullfaks on the Norwegian continental shelf (NCS) together with its licence partners. The projects represent important pieces of the jigsaw puzzle of designing the subsea factories of the future.