Tuesday, 31 May 2016

Sercel Delivers Two 508XT Land Acquisition Systems to One of the Largest Russian Oil Service Companies - 31/05/2016

Sercel Delivers Two 508XT Land Acquisition Systems to One of the Largest Russian Oil Service Companies

CGG announced today that Sercel has delivered two of its new-generation 508XT land seismic acquisition systems, representing a total of 12,000 channels, to Bashneftegeofizika, one of the largest oil service companies in the Russian Federation. 

The Sercel 508XT land acquisition system was selected for its unique game-changing cross-technology (X-Tech®) architecture which combines the benefits of cable and wireless systems in a single platform. Since the launch of the 508XT, more than 100,000 channels have been delivered worldwide to Sercel clients, including to two megacrews currently operating in the Middle East that are consistently achieving record-setting production levels.

The system will first be deployed by Bashneftegeofizika in June on a 3D survey project with difficult access in hilly and forest-covered terrain. Both 508XT systems will then be deployed later in the year for winter season operations.

Pascal Rouiller, Sercel CEO, said: “We are particularly pleased to deliver our 508XT acquisition system to such a long-standing Sercel client as Bashneftegeofizika. Their first deployment will take place in challenging terrain, where the 508XT’s full monitoring capabilities combined with its fault-tolerant architecture will be of great benefit for operations.”

Rustem Yavdatovich Adiev, General Director, Bashneftegeofizika, said: “Both 508XT systems will be used for the multiple seismic projects we are planning in the Russian Federation over the coming years. We are confident that the latest Sercel system, with its lighter weight and lower power consumption, will be of key benefit for our operations where field personnel logistics and equipment deployment are very challenging.”

Characterize Fractures and Stress with Anisotropic Inversion - 31/05/2016

Characterize Fractures and Stress with Anisotropic Inversion

New software capabilities provide more information for fuller reservoir understanding
by CGG

Selecting the best drilling locations in all types of reservoirs depends on successfully tackling complex subsurface challenges. To address the tough technical issues involved, CGG GeoSoftware has launched the latest version of its Jason 9.5 advanced reservoir characterization software.  Many new capabilities for anisotropic inversion, depth inversion and broadband reservoir characterization build on and improve Jason’s unique technology that reveals essential reservoir facies and rock property information. 

In naturally fractured reservoirs, better identification of fractures, differential stress and reservoir architecture is key to improving drilling and production results. Jason-patented workflows improve characterization of reservoirs with significant anisotropy and realize the full value of azimuthal seismic data.  

Within the Jason® solution portfolio, Anisotropic Inversion offers more options for improved anisotropy property estimates calibrated to well control. Now you can analyze anisotropic behavior of the rocks using your pre-stack isotropic modeling and inversion. In bandlimited seismic data, the Jason technique allows you to calculate azimuthally-sectored trend models based on the analysis of a first-pass inversion.

Producing better information on anisotropy magnitude and direction is helpful to a fuller understanding of the reservoir. Large-scale fractures may be visible on regular 3D seismic data and can be seen with seismic attributes like coherency and curvature and with the GeoSoftware product, FaultFractureSpark. However, smaller sub-seismic fractures and stress manifest themselves at seismic scale through anisotropy. By studying the azimuthal behavior of the reflections in wide-azimuth data you can characterize their orientation and intensity.

Within Jason, CGG GeoSoftware has implemented a method to calculate the effective elastic parameters in any azimuthal direction. With these effective elastic parameters and isotropic AVO modeling, you can accurately predict the azimuthal seismic amplitude behavior as a function of angle or offset. Moreover, as the character of the azimuthal bias in the inverted elastic parameters is known, these can be analyzed in a special tool that performs a regression to the predicted azimuthal behavior of the elastic properties from azimuthally-sectored pre-stack inversions.

Failure to account for anisotropy results in incorrect amplitude of estimated wavelets, especially on far offsets; biased estimates of elastic parameters; and inversions that do not match well control. The impact is strongest on the density. Fortunately, the technically sophisticated geoscience technology within Jason can help avoid this situation.

To help you find out more about how these innovative techniques can help with tough drilling and reservoir development decisions, CGG GeoSoftware is offering daily presentations and demos on demand on EAGE booth #1250.

Thursday, 26 May 2016

Three wells for the price of one - 26/05/2016

Three wells for the price of one  

Old and partly lost slots that were given up as providers of new production triggered new solutions for Snorre B. The result was three wells with an average price of NOK 170 million, compared to NOK 490 as reference base.

Drilling & well (D&W) has recently delivered three new wells on the North Sea Snorre B field, contributing strongly to the corporate goal of «radical change» to reduce the breakeven for new wells.

The three wells, C-2, C-3 and C-4, have boosted Snorre B production by 30%.

“We estimate the price per barrel for these wells to be well below USD 10. Snorre B is currently producing around 80,000 barrels per day, which is a very satisfactory result. Together with D&W we have found the right drilling targets for our wells, and when we add a predictable and long-term drilling plan allowing optimisation and higher efficiency, we have the success factors,” says Oddmund Rismyhr, acting head of Snorre Petec.

New ideas – new possibilities

“This had not been the outcome if the slots had not been so bad at the outset, forcing us to be innovative. Due to a damaged C-3, for example, we applied a simplified casing design. This resulted in a short and quick well,” says Johan Dahl, head of D&W planning.

The cost reduction recipe involved a standardised and simplified well design – a standard completion design for all wells. The same type of drilling fluid was also applied to allow reuse. By carrying out the same operations in series they also saved a lot of time and resources, as they were able to complete all stages – drilling, lower completion, upper completion and Christmas tree setting – three times when they first started the operations.

“If we drill only one well, we must rent equipment and send it back to shore, while the remaining completion equipment and drilling fluid must be sent to shore when we are done. In this case we did the same operations three times, saving much time, improving use of resources and reducing costs and rental time. We also save a lot on mobilisation costs and logistics,” he says.

“At the same time we learn a lot from each well, which is reflected in the reduction in time spent on sub-operations during the process,” says Dahl.

Took advantage of the good weather season

The planning leader points out the good cooperation between D&W and Petec, which allowed them i.e. to include weather considerations in their planning. Normally they experience 35% waiting on weather during the months of the year with the most demanding weather conditions. Operations in bad weather often lead to major downtime incidents. This has been avoided and consequently they have succeeded at their first attempt.

“Earlier we wanted to start production immediately, and it was therefore not considered to adapt operations to the weather conditions. But we realise that when we make a good plan that takes this aspect into consideration and has a long-term perspective we achieve higher production sooner than we did before. If we had done like we did in the old days, we would not have been able to deliver more than two of these three wells, with the starting point we had at that time,” says Dahl.

Aiming for perfection

For the D&W community on Snorre there is only one reference base that matters.

“We are only looking at how close to a «perfect well» we can get,” says Ilhan Løwen, drilling superintendent of D&W.

This is the result of the best sub-operations completed in wells previously and combined in a fictitious reference well.

“We have made it a little difficult for ourselves by including reference wells from the field start-up all the way back in 2001,” he continues.

The «perfect well» time consumption for C-4, C-3 and C-2 was 49, 46 and 69 days respectively. The actual time consumption was 58, 58 and 91 days. The costs were NOK 168, 149 and 193 million. The average price in the period 2009–2013 was NOK 490 million.

Tuesday, 24 May 2016

‘Smart’ Efficiency Key to a Resilient Offshore Sector, urge Industry Experts - 24/06/2016

‘Smart’ Efficiency Key to a Resilient Offshore Sector, urge Industry Experts

GCC Countries Look Offshore to Boost Oil and Gas Production; 
Abu Dhabi On Track with USD 25 Billion Offshore Investment 

ADIPEC 2016 Prepares to Host Region’s Largest Waterfront Offshore & Marine Zone, with more than 100 Exhibitors  

Global Offshore Drilling Rigs Industry Expected to Reach USD 102 Billion by 2019: Industry Report

Abu Dhabi, UAE – 24 May 2016 – Maximising efficiency without compromising on safety and quality is crucial to creating a sustainable offshore sector in today’s economic environment, experts urged ahead of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2016).

According to a recent study by research firm Markets and Markets, the global offshore drilling rigs industry is expected to grow from an estimated $65.77 billion in 2014 to $102.47 billion by 2019, at a CAGR of 9.27 per cent, representing a sizeable investment in a sector that continues to play an instrumental role in the growth of emerging energy markets. 

The same report indicates that the progress of the offshore rigs market largely depends on growing exploration activities across the globe. Recent discoveries of oil and gas reserves in remote areas, along with increasing technological advancements in terms of equipment, have made drilling operations more feasible and cost-effective, according to the research.

In the region, offshore projects are still on track as countries work towards meeting capacity targets. This includes a USD 25 billion (AED 92 billion) investment in offshore oil projects planned by the Abu Dhabi National Oil Company (ADNOC) through to 2020, part of the UAE’s strategy to boost its total oil output capacity to 3.5 million barrels per day (bpd) by 2017-18. It is estimated offshore reserves will account for approximately 50 per cent of total oil production in Abu Dhabi by 2018 as a result of this continued investment.

The Abu Dhabi Marine Operating Company (ADMA-OPCO), a subsidiary of ADNOC, is currently operating two major fields – Umm Shaif and Lower Zakum, one of the world’s largest oilfields. The company is also developing three new fields: Nasr, Umm Lulu, and Satah Al Razboot, with a targeted production capacity of 750,000 bpd from the five fields. 

In line with ongoing global and regional investments in offshore production, ADIPEC 2016 will be hosting the second edition of its highly anticipated Offshore, Marine and Heavy Equipment Exhibition and Conference. The purpose-built quayside exhibition and conference theatre makes ADIPEC 2016 host to one of the world’s most exclusive waterfront offshore and marine showcases.

Following its successful launch last year, the dedicated zone is set to attract more than 100 exhibiting companies as global industry professionals come together with the common goal of bringing best practice to what has been traditionally recognised as a complex sector.

Mr Ali Khalifa Al Shamsi, CEO of Al Yasat Petroleum Operations Company and ADIPEC 2016 Chairman, said: “Significant developments in technology have allowed us to safely and efficiently tap into deepwater reserves which were previously considered inaccessible. However, today’s market presents new challenges, and we must continue to enhance efficiencies without compromising on health, safety, or the environment. By combining global expertise with a unique showcase of offshore products and services, ADIPEC provides an ideal platform for stakeholders to collaborate towards creating a sustainable, more resilient offshore sector.”

Situated on the waterfront at the Abu Dhabi National Exhibition Centre (ADNEC), ADIPEC’s Offshore, Marine and Heavy Equipment Zone is only 150 metres away from the main floor, with a jetty that extends 500 metres long. Sprawled across 4,500 square metres of space, the dedicated zone will feature a display of everything from rigs, vessels, and subsea drilling equipment, to pipelines, and tools for reservoir production and mapping.

The waterfront area will also feature offshore vessels that can be toured by visitors, providing real insight into not only how equipment fares in situ, but also offering a more practical understanding of the issues faced by marine craft and offshore equipment operators. 

Christopher Hudson, President – Global Energy at dmg events, organisers of ADIPEC, said: “With about one-third of the world’s oil supplies coming from offshore wells, technology and innovation will continue to play a pivotal role in driving efficiency and best practice in the offshore sector.”

“The mooring and quayside exhibition space at ADIPEC allows visitors to witness a host of incredible offshore equipment, tools, and technologies in their native setting. It also enables exhibitors to present their products in an engaging environment to a relevant audience, adding a new dimension to the way both participants and attendees experience the event,” Hudson added.

Taking place at a purpose-built waterside theatre, this year's Offshore and Marine Conference will be led by the Society of Petroleum Engineers (SPE). The forum will feature a series of CEO Sessions, Plenary Sessions, as well as Technical Sessions, bringing a host of world-leading experts to discuss critical industry issues. Topics include geology, reservoirs and exploration, drilling and completion challenges, as well as emerging and advanced technologies, offshore vessels and platforms, materials performance, and floating production systems. 

Established as the world’s most influential exhibition and conference for the oil and gas industry, ADIPEC has a longstanding track record of bringing together globally celebrated luminaries and experts to discuss challenges and opportunities in the energy sector. The annual four-day event will take place from 7-10 November 2016 at ADNEC.

Thursday, 19 May 2016

Gazprom and Thai oil and gas company PTT sign Memorandum of Understanding - 19/05/2016

Gazprom and Thai oil and gas company PTT sign Memorandum of Understanding

Alexey Miller, Chairman of the Gazprom Management Committee, and Tevin Vongvanich, President and Chief Executive Officer of the Thai state-owned company PTT, today signed in Saint Petersburg the Memorandum of Understanding on cooperation in the oil and gas industry.

The signing ceremony was held in the presence of Dmitry Medvedev, Prime Minister of the Russian Federation, and Prayut Chan-o-cha, Prime Minister of the Kingdom of Thailand.

A working meeting between Alexey Miller and Tevin Vongvanich also took place today. The parties addressed the potential avenues for cooperation. Among the topics discussed were the collaboration prospects for hydrocarbon development, joint LNG projects, LNG and LPG trading, and exchange of experience in the oil and gas industry.

Statoil awarded considerable position in 23rd licensing round - 19/05/2016

Statoil awarded considerable position in 23rd licensing round 

The Ministry of Petroleum and Energy has awarded five licences to Statoil in the 23rd licensing round, four as operator and one as partner.

“The Norwegian continental shelf (NCS) is the core of Statoil’s business, and we are very pleased with the award in the 23rd licensing round, which will strengthen our exploration portfolio. Gradually opening up new areas is crucial for us to maintain profitable and high-level production up to and beyond 2030,” says Arne Sigve Nylund, Statoil’s executive vice president for Development & Production Norway.

The award covers five commitment wells – one in the vicinity of Statoil’s existing position, and four in the southeastern part of the Barents Sea, providing access to interesting acreage in a new area on the NCS.

“We will now be able to explore a very interesting area in the Barents Sea. There is always uncertainty related to probability of discovery in new areas. But if we make a discovery, it may involve considerable resources. Exploring in such areas and making substantial discoveries are vital if the NCS is to maintain its production,” says Jez Averty, Statoil’s senior vice president for exploration on the NCS.

“We have built on our 40 year-long history in North Norway, and our long experience from Barents Sea exploration. A large Statoil team has worked for 24 months to improve this application, and I am very proud of the effort made by everyone across Statoil that has led to this award,” says Averty.

“Based on in-house work and seismic data acquisition in 2013 and 2014 Statoil is well prepared for exploration drilling. Through the Barents Sea Exploration Collaboration (BaSEC) the industry has laid the groundwork for conducting safe and cost-effective drilling. We expect to drill the first well already in 2017, and will cooperate with our partners to reach this goal,” says Averty.

“We regard this award as a great opportunity, and strongly believe that if we find sufficient resources we will be able to develop them profitably,” concludes Averty.

In the 23rd licensing round Statoil has been awarded new exploration licences in the following areas:

30 % share and operator for exploration licence PL859 (blocks 7335/1,2,3; 7336/1; 7434/7,8,9; 7435/9,10,11,12; 7436/10)
40 % share and operator for exploration licence PL857 (blocks 7132/1,2,3,6; 7133/1,4; 7232/10)
35 % share and operator for exploration licence PL855 (blocks 7324/5,6; 7325/4,5)
40 % share and operator for exploration licence PL854 (blocks 7322/3; 7323/1)
20 % share for exploration licence PL858 (blocks 7234/3, 6; 7235/1,2,3,4,5)

Wednesday, 18 May 2016

Drilling permit for well 30/4-3 S in production licence 040/043 - 18/05/2016

Drilling permit for well 30/4-3 S in production licence 040/043

The Norwegian Petroleum Directorate (NPD) has granted Total E&P Norge AS a drilling permit for well 30/4-3 S, cf. Section 8 of the Resource Management Regulations.

Well 30/4-3 S will be drilled with the Mærsk Intrepid rig at position 60°30'22.44"N and 2°0'53.37"E in production licence 040/043.

The drilling programme for well 30/4-3 S relates to the drilling of a wildcat well. Total E&P Norge AS is the operator with an ownership interest of 51 per cent, Petoro has 30 per cent and Statoil Petroleum AS has 19 per cent.

The area in this licence consists of a part of block 30/4. Production licence PL 040 was awarded in the 3rd licensing round on 1 April 1975, and PL 043 was awarded on 31 Dec. 1975. This is the third exploration well to be drilled within the licence area. A total of 16 wells, including sidetracks, have been drilled in the Martin Linge area.

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

Drilling permit for well 16/5-6 – Production licence 776 - 18/05/2016

Drilling permit for well 16/5-6 – Production licence 776

The Norwegian Petroleum Directorate has granted Tullow Oil Norge AS a drilling permit for wellbore 16/5-6.

Wellbore 16/5-6 will be drilled from the Borgland Dolphin drilling facility at position 58°32’40.45’’ N and 02°31’45.5” E.

The drilling programme for wellbore 16/5-6 relates to the drilling of a wildcat well in production licence 776. Tullow Oil Norge AS is the operator with an ownership interest of 40 per cent. The licensees are Concedo ASA with 20%, Wintershall Norge AS with 20% and Petoro AS with a 20% ownership interest. Production licence 776 was awarded in 2015 (APA 2014).

The area in this production licence is located in the central part of the North Sea, and consists of parts of blocks 16/5, 6, 8 and 9. The well will be drilled about 30 km south of the Johan Sverdrup field. This is the first well to be drilled within the production licence area.

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

Tuesday, 17 May 2016

Brexit could drain investments from UK energy grids - 17/05/2016

Brexit could drain investments from UK energy grids

By Lewis Crofts, Chief Correspondent at Mlex, leaders in offering exclusive market insight, analysis and commentary

Currency volatility resulting from a UK vote to leave the EU could prompt many companies to withdraw investment from British energy­grid projects, a leading environmental expert said today.

The comments from a director of environmental think tank E3G follow warnings by Moody’s Investors Service that energy­grid projects may find it more difficult to secure financial backing if the UK votes for “Brexit.”

Currency volatility resulting from a UK vote to leave the EU could prompt many companies to withdraw investment from British energy­grid projects, a leading environmental expert said today.

Jonathan Gaventa, a director of UK environmental think tank E3G, said that projects to link Britain’s energy network with mainland Europe may struggle to secure financial backing if the UK exits the bloc.

His comments echo findings by Moody’s Investors Service, which said in March that utilities, telecom operators, airlines and drugmakers would be hit hardest by the fallout of a “Brexit”.

Moody’s found that uncertainty about “interconnectors” that link the UK market to mainland Europe could affect companies such as National Grid, which see these installations as drivers of economic growth.

Businesses are expecting “volatility and large movements on currency either way after June,” Gaventa told journalists in Brussels. As a result, a “significant proportion of energy companies are [already] deferring investment.”

He added that he “had heard mention of” temporary withdrawal of investment in the UK because of currency uncertainty. UK citizens will go to the polls on June 23, to vote whether Britain should remain an EU member.

Gaventa referred to a UK industry report last month that found only a quarter of energy companies surveyed felt they could make business decisions with an upcoming referendum.

In an interview with MLex last month, the European Commission’s former energy policy director, Philip Lowe, said projects would probably go ahead regardless of the referendum result, because of “strong commercial interest in some of these links”.

But Gaventa said today that there is an “increased risk and uncertainty over what market conditions planned grid connections will operate under in the future,” and this will concern investors. Although the UK is planning power­network ventures with non­EU countries, he added, the decisions made at either end of those cable lines or gas pipelines “impact the project.”

“Revenue streams are based on trading law certainty,” he said, adding that he expects there to be a “prolonged period of uncertainty” under an exit scenario.

The UK has connected 4 gigawatts of its generating capacity across its borders. Planned infrastructure ventures could see that tripling by 2022, Gaventa said.

CGG Registered by CNH to Estimate Reserves in Mexico - 17/05/2016

CGG Registered by CNH to Estimate Reserves in Mexico

CGG has announced that its Mexican entity, CGGVeritas Services de México S.A. de C.V. (CGG), has become one of only a small number of companies to be registered by Mexico’s National Hydrocarbons Commission (CNH) as an independent third party qualified to audit and certify Mexico’s reserves, either for oil and gas operators or directly for the CNH. 

CGG GeoConsulting’s Robertson petroleum reservoir & economics group specializes in a wide range of geoscience, reservoir engineering, facilities engineering, and economics consultancy services. It has a specialist certifier level and considerable experience in conducting audits using the Petroleum Resources Management System (PRMS), the international standard for defining and reporting petroleum reserves and resources. 

Registration of CGG’s auditing and reporting expertise will apply to all of Mexico’s oil and natural gas resources from conventional to unconventional in both offshore and onshore settings. 

Jean-Georges Malcor, CEO, CGG, said: “CGG has over twenty-five years of operating history in Mexico, during which time it has consistently taken the lead in introducing the latest geological, geophysical and reservoir technologies to support Mexico’s exploration, development and production challenges. It therefore seems fitting that, with our wider geoscience capabilities, we can now extend this role as a registered reserves auditor for Mexico.”

Monday, 16 May 2016

Statoil farms into Turkey onshore acreage - 16/05/2016

Statoil farms into Turkey onshore acreage

Statoil has entered a binding letter agreement into two exploration licenses in the Thrace region in the European north-western part of Turkey.   

Statoil will have a 50% interest in the Banarli licences, while the operator Valeura Energy Inc., a Canadian exploration company listed on the Toronto Stock Exchange will keep the remaining 50%. The shallow formations above 2,500 meters will be 100% retained by Valeura.

The work programme in the licences consists of several phases, where the first includes the commitment of drilling one exploration well, with planned spudding late 2016 or early 2017. The exploration phase will test unconventional gas potential in the deep parts of the basin.

The exploration licenses cover an area of approximately 540 km2 in proximity to existing infrastructure in a region where gas has been produced since the 1920s.

“Entry into the north-western part of Turkey is in accordance with our exploration strategy to build a diverse portfolio of low commitment frontier opportunities with impact potential,” says Erling Vågnes, senior vice president for Statoil`s exploration activities in the Northern Hemisphere.

“We look forward to explore the licenses further together with the operator Valeura, and we are optimistic with regards to the potential. If successful, this is an opportunity that will play to Statoil`s strengths in drilling and reservoir management”, says Vågnes.

The agreement is pending governmental approval, which is expected by the end of September 2016. 

Thursday, 12 May 2016

Trelleborg’s Revolutionary ‘Hose-in-Hose’ Technology Opens a New Door to LNG Accessibility - 12/05/2016

Trelleborg’s Revolutionary ‘Hose-in-Hose’ Technology Opens a New Door to LNG Accessibility

First of its kind Cryoline floating LNG hose-in-hose transfer system improves safety and lowers operator costs – improving access to low emission LNG fuel

Trelleborg’s fluid handling operation, the leading supplier of innovative flexible bonded hose solutions for the crude oil, chemicals and Liquefied Natural Gas (LNG) offshore industries, today highlighted the areas where its ‘game changing’ Cryoline hose-in-hose transfer system for LNG will enable the extended use of environmentally friendly LNG fuel, optimize the safety of its transfer, and significantly lower operator and supplier costs.

The cryogenic floating hose system enables rethinking of the conventional wisdom in LNG ship-to-shore transfer for regasification, liquefaction and terminal storage, as well as for gas power generation projects. It also offers a more viable and innovative alternative to existing ship-to-ship transfer systems, ensuring higher safety and operability standards through optional increased distances between vessels. And in utilizing ariel hoses with large inner diameters ranging from 16 to 20 inches, operators have a greater choice of configuration, more flexibility, and a less strenuous replacement to conventional ship-to-ship systems.

Gianni Sicuro, global director for Trelleborg’s fluid handling operation, said: “As a Group, we pride ourselves on being able to offer the most innovative and high quality products to ensure safety. We have achieved that again in re-thinking LNG transfer and challenging the status quo. Cryoline hose-in-hose transfer system (with its full extended range from 6 to 20 inches diameter) is truly a ‘game changing’ technology, which will contribute to making it easier and cheaper to transfer LNG. It fulfils our philosophy of providing our customers with feasible solutions that improve productivity levels, protect the environment, save valuable resources, and make a genuine difference to the bottom line for operators and suppliers.
“In today’s challenging markets, optimizing operability is crucial. Trelleborg’s cryogenic floating hose is the only solution that could potentially offer up to 80% in operating cost reductions compared with traditional transfer solutions, equating to significant savings.”

Vincent Lagarrigue, head of product management for Trelleborg’s fluid handling operation, added:  “The  Cryoline floating hose was more than seven years in development and validation, and is the first floating hose of its kind to receive the coveted EN1474-2 accreditation. Meeting the standard means that we are part of a transformation in the way that LNG can be handled. It will help make safer ship-to-ship transfer possible at a potentially lower cost, and in particular, in the small-scale LNG market, it can fulfill the operators’ desire to open up new markets in remote areas and negate the needs for costly on-shore infrastructure. We expect this hose-in-hose transfer system to be truly revolutionary.

“The market has been looking for some time for an option to transfer LNG to remote locations. Indonesia, for example, has set a target of 100% electrification by 2019, with gas playing an important role in meeting this target. This hose-in-hose transfer system will make this possible as LNG can be transferred directly without the need for infrastructure such as jetties.”

Key applications for the Cryoline hose-in-hose transfer system include:

Ship-to-shore configuration
The cryogenic floating hose system enables rethinking of the conventional wisdom in LNG ship-to-shore transfer. Unloading and loading of LNG presently relies on the construction and availability of complex infrastructure, such as a permanent jetty with breasting and mooring dolphins, fenders and loading arms. Trelleborg’s Cryoline floating hose transfer solution enables direct connection from ship-to-shore, with installation in potentially just a few days, while ensuring the highest standards of safety. In negating the high cost of infrastructure captital expenditure, Trelleborg’s latest transfer solution offers a cost-effective and flexible alternative to the present way of transferring LNG.

Ship-to-ship floating configuration (FSRU)
Cryoline hose-in-hose technology offers a more viable and innovative alternative to existing ship-to-ship transfer systems, ensuring higher safety and operability standards as the distance between the vessels can be increased in both ship-to-ship and tandem transfer. With Trelleborg’s floating cryogenic hoses, vessels can be moored as much as 300 to 500 meters away from a storage unit, allowing for ship-to-ship transfer in deeper waters in even the most challenging conditions.
                                                           
Ship-to-Ship aerial configuration
Cryoline hoses will be available with large inner diameters ranging from 16 to 20 inches. This will provide operators with a greater choice of configuration, more flexibility and a less strenuous replacement to conventional ship-to-ship systems. For example, in ship-to-ship aerial transfer, only three of Trelleborg’s 16-inch Cryoline hoses need be used, instead of ten eight-inch hoses; reducing handling time by as much as 60%.                                         

During the development of the Cryoline hose-in-hose technology, several full scale hose prototypes were successfully tested in both static and dynamic conditions at Trelleborg’s research and development facilities for hoses in Clermont-Ferrand, France. Most of the tests took place in cryogenic conditions at -196 °C/ -321 °F and in these floating hoses were able to demonstrate their ability to withstand fatigue resistance in even the most hazardous conditions.

Diversity lands steady performance at Aberdeen Harbour - 12/05/2016

Diversity lands steady performance at Aberdeen Harbour

Activity at Aberdeen Harbour remained steady throughout 2015 resulting in the port recording a 9.7% increase in turnover, up from £28.9million in 2014 to £31.7million in 2015. Pre-tax profit was also up by 21% at £15.03million, compared to £12.4million the previous year.  

A 6% drop in vessel numbers, from 7,937 to 7,428 is consistent with the trend for newer, larger multi-purpose vessels using the port, which is evidenced by the marginal drop in overall vessel tonnage at 27.5million tonnes, down only 2.1% from 28.1million tonnes in 2014.

Aberdeen Harbour chief executive, Colin Parker said: “The region has seen considerable change over the last 12 months and the repercussions of this have also had an impact on the Harbour. While the high levels of traffic we have experienced as a result of the North Sea oil and gas sector has slowed, we are witnessing growth in other areas, which only goes to demonstrate the diversity of traffic using the port.” 

In 2015 the port handled its largest ever grain shipment at 16,500 tonnes. This figure in itself is greater than the overall tonnage of grain shipped in 2013 and has given rise to an average of 70,000 tonnes of grain shipped per year throughout 2014 and 2015. 

Aberdeen Harbour welcomed traffic from 39 countries throughout 2015, which included new links with Indonesia and Libya. Regular routes to the Northern Isles remained strong, with the Serco Northlink passenger and freight services to Orkney and Shetland contributing to a 2.9% increase in  passenger numbers to 158,226 from 153,756 the year before. 

“In 2015, we welcomed vessels from new routes, extending our reach and connecting Aberdeen with a wider global audience,” added Mr. Parker. “We also continue to see a trend for larger vessels across all sectors. In March of this year, the HHL Rio de Janerio became the longest vessel to call into port, at 168.5metres. The biggest single vessel tonnage was also recorded in 2015 at 20,643 tonnes. This is a key driver for the potential expansion of Aberdeen Harbour into Nigg Bay, particularly as we see increased investment in decommissioning activity and growing interest from the cruise ship industry.

“We have had great focus in 2015 on maintaining our cost base, which has allowed the rate increases applied in the last 12 months to be converted directly into profit – thereby contributing significantly to the revenue and borrowing capabilities required to support these expansion plans. The proposed deep-water quays at Nigg Bay would complement the existing capabilities, experience and established suite of service providers, already in place at the current Harbour, while opening up the port to new market potential.” 

Although the possible expansion of Aberdeen Harbour into Nigg Bay is still a feasibility study, the three main elements of the required planning consent application, a Harbour Revision Order, Marine Licenses and Planning Permission in Principle have been submitted. A final decision on the project is expected this autumn.

“This is a critical time for Aberdeen and its future,” continues Mr. Parker. “The timing of the development gives us a great opportunity to build on our current traffic flows, anchor decommissioning activity in the North East of Scotland and continue to build on our strong international links.” 

Oil & Gas Africa 2016 Conference – Focus on Logistics - 12/05/2016

Oil & Gas Africa 2016 Conference – Focus on Logistics

The world’s oil and gas industry is probably experiencing its most tumultuous period since the infamous oil crisis of 1973. However, instead of severe oil shortages and sky-high prices, current market turmoil is due to the inverse - Middle East wells pumping at maximum capacity with concomitant low prices.

Demand for oil and gas from markets in Africa remains high. But low crude prices combined with poor physical infrastructure, inadequate logistical solutions and onerous government regulations have blunted investment in oil and gas field development. As a result, some African governments such as Tanzania and South Africa are reappraising their oil and gas legislation. These are just some of the challenges that will be covered at the Oil & Gas Africa Conference 2016, which takes place on 13 and 14 July at the Cullinan Hotel, V&A Waterfront, Cape Town.

Eliminating Supply Chain Waste
“According to Adrian Gonzalez of Talking Logistics.com, energy companies are placing growing emphasis on finding and eliminating waste in their supply chains,” says conference spokesperson Simon Barry.

“This conference is taking a fresh look at overcoming logistical and regulatory barriers and exploring strategies to lower the cost of doing business in Africa, which would certainly entice investors to the sector, despite the current low oil price.”

The Oil & Gas Africa 2016 Logistics Conference features a large panel of almost 20 local and international experts covering a diverse array of logistics-related fields, specifically focused on the broad oil and gas sector, but with particular relevance to the African industry and its challenges.

“Panellists will offer delegates a number of relevant insights on the current and possible future condition of the African oil and gas sector,” adds Barry.  “One of the most anticipated speakers is Hugh Kennaway of Matthews Daniel International, who will discuss onshore energy insurance in developing jurisdictions; what it covers and what affects the ‘promise to pay’.”

Smarter Procurement, Supply Chain Resilience
World Bank energy consultant Simon O’Toole will present a non-technical overview of the history and geographical distribution of global oil assets. Acclaimed logistics consultant Lars Greiner will provide guidelines to ‘Smarter Procurement’ models and local content solutions for onshore and offshore supply chain resilience.”

Panel speakers will also discuss the various configurations of land-based, maritime and aviation resources. Mick Fry and Ian Mcluskie of CHC Helicopters will illustrate the increasing role of air support in offshore oil and gas supply chains, such as aviation logistics, search and rescue and medical evacuation. Mike Litson of Litson & Associates will examine air travel safety versus required maintenance standards costs in the oil and gas and resources sectors.

The main conference topics are:
·         New Energy Futures – Transformation of the Oil and Gas Sector
Chris Bredenhamm – Partner at PwC: Africa Oil & Gas Advisory Leader
·         Latest News from Petroleum Agency SA
Dave van der Spuy – Manager, Geochemistry: PASA
·         International and National Laws, Liability, Litigation and Corruption
Kenny Paton – Director, African Exploration & Production, Oil & Gas: Webber Wentzel
·         The Industry in 10 Years’ Time
Simon O'Toole – Independent Exploration and Survey Specialist: World Bank
·         Supply Chain Challenges of Cleaner Fuels Roll-out in SA
David Sineke – Analyst: Engen; Cyril Stevens – Transition Facilitator: Engen
·         Logistics Bases and the Benefits of Free Zones
Laura Peinke: Executive: Business Development - Saldhana IDZ
·         Bimodal Logistics – Road AND Rail
Mike Daniel: RSSA
·         Thinking Differently About Logistics in Emerging Markets Land-Sea Supply Chains
Shirley Schmidt  – Director, Afrishore Shipping
·         Oil & Gas Insurance in Developing Jurisdictions
Hugh Kennaway – Independent consultant: Matthews Daniel International
·         Smarter Procurement Models & Local Content Solutions, Onshore & Offshore Supply Chain Resilience – Lars Greiner: Independent Supply Chain Consultant
·         CSR and How it can Achieve Goals and Add Value
Charlene Holm – Key Accounts Manager: Intertek Business Assurance
·         Aviation Safety & Regulatory Oversight
Mike Litson – Managing Partner, Litson & Associates
·         Aviation Support and Search & Rescue
Mick Fry – Director, Sales/Commercial; CHC Helicopter
Ian McLuskie: Senior Manager: CHC Helicopter
·         Air Logistics
Paul Hurst – Managing Director: Solenta Aviation
·         Operations Communication Support, Asset Tracking and Crisis Response
Steve Light – Head of Business Development: Globecomm SA
·         Challenges and Approaches to Operating in North Africa
Mike Lord – Chief Operating Officer: RedMed Group

“This conference is an essential event for any oil and gas sector stakeholders exploring opportunities in Africa,” adds Barry. “We are honoured that the City of Cape Town is a prime sponsor of this vital event.”

Wednesday, 11 May 2016

Aker Solutions ASA: Mandatory Notification of Trade - 11/05/2016

Aker Solutions ASA: Mandatory Notification of Trade

Aker Solutions ASA today bought 110,000 own shares at an average price of NOK 30.1421 per share.

The shares were acquired on the Oslo stock exchange as part of the company's share purchase program for employees. This gives Aker Solutions a new holding of 1,347,311 own shares.

Danbro agrees UK’s biggest-ever cloud accounting deal to give thousands free access to FreeAgent - 11/05/2016

Danbro agrees UK’s biggest-ever cloud accounting deal to give thousands free access to FreeAgent

National accountancy firm Danbro has signed the biggest-ever cloud accounting deal which will give thousands of self-employed individuals and small businesses across the UK free access to the award-winning FreeAgent platform. 

Under the groundbreaking partnership, 4,000 of Danbro’s freelancer, consultancy and micro-business clients will be able to manage their business finances by accessing the popular FreeAgent platform for free. The partnership is believed to be the single-largest deal involving any UK cloud accounting provider.

John Thorburn, director of Accountancy Services at Danbro, said: “This is a fantastic deal for Danbro’s customers and allows them to manage their money on the go while also giving them access to a wealth of innovative tools and applications.

“We have big growth ambitions and a reputation for using the latest technology to help our clients work more effectively and save money. While our clients will see no changes to the service they receive, this deal with FreeAgent will allow us to do even more for them and ensure they can concentrate on making a success of their businesses.

“This is the biggest cloud accounting deal signed in the UK and demonstrates the scale of our own ambitions. By giving people free access to FreeAgent’s innovative software alongside Danbro’s expert service, we’re confident we can help the self-employed sector to flourish.”

Under the deal, Lytham-based Danbro will offer clients the opportunity to use FreeAgent as their preferred cloud accounting system, providing them with a user-friendly method of managing their expenses, invoicing, banking, time tracking, project management and tax forecasting. This will enable Danbro to work even more effectively with clients and provide deeper, expert insights into their business accounts.

Ed Molyneux, CEO and co-founder of FreeAgent, said: “We’re thrilled to announce this partnership with Danbro, which is not only our biggest deal, but also the largest of its kind ever in the UK cloud accounting sector. Many more of their clients will soon join those who are currently benefiting from the FreeAgent platform, which highlights our mutual commitment to supporting micro-businesses and providing them with the best possible tools to manage their accounts. 

“Danbro is one of the leading, rapidly-growing accountancy firms in the UK who share many of the same values as FreeAgent does for helping clients run better businesses and understand their finances. It’s great to be partnering with them and we look forward to working together in the years ahead.” 

Chevron, Marathon and Anadarko to Unite with IBM, GE and EMC for Upstream and Digital Opportunities - 11/05/2016

Chevron, Marathon and Anadarko to Unite with IBM, GE and EMC for Upstream and Digital Opportunities

With the current climate leading to OPEX cuts and reduced staff, there is an increased pressure on all operators to have more lean production operations in order to remain profitable. Under such circumstances, operators like Chevron, Marathon and Anadarko are increasingly seeing the value of leveraging technology to allow them to stay afloat and are partnering with companies like GE, IBM and EMC.

The benefits of leveraging digital technology are clear: by ensuring the right data is delivered to the right people at the right time, operations staff are able to make more effective decisions which will have a positive impact on their production. As BP recently wrote: a time of lower prices, revenues and capital spending, digital technologies – including sensors, data analytics and automated systems – stand out as the leading contributors for reducing costs.

Key areas of focus for operators to reduce costs lie in running effective remote operations centers, leveraging data and software to give them operational visibility. Another key priority is in leveraging analytics and IOT to understand the condition of their equipment and prevent failures, therefore cutting costs. 

Analysts forecast the global big data market in the oil and gas sector to grow at a CAGR of 30.67% during the period 2016-2020 and Rigzone recently declared that big data scientists and software engineers were one of the few job opportunities set to grow in oil and gas. All of these facts point towards an area of the industry which continues to provide opportunities to operators and service companies alike during tough times.

Upstream operators and technology providers will be gathering for the Data Driven Production Conference (7-8 June, Houston) to leverage this opportunity. Operators will be sharing insight on their digital programs include Statoil, Chevron, Shell, Anadarko, Murphy, ConocoPhillips, Noble, Exco, Marathon. They will be meeting with technology providers with solutions to their operational challenges such as GE, Siemens, IBM, EMC, Rockwell Automation and Schneider Electric.

Key Highlights of the Data Driven Production Conference (7-8 June, Houston)

  • Network with 200 other data driven experts from the upstream and digital community. Companies on board include Chevron, Shell, Anadarko, GE, IBM, Siemens and more
  • Exclusive insight from Anadarko, Murphy Oil and Exco into their success and challenges in running their onshore Remote Operations Centers
  • Insight into the analytics programs from Chevron and Noble Energy- understand how they are optimizing production and making the analytics ‘buzz’ word a reality 


  • Hear from the most cutting edge technology companies, such as EMC, GE and IBM on the leading analytic and IOT technology opportunities

The event is already 30% up in attendance on last year, with Marathon, Apache and Chevron all sending large delegations

Tuesday, 10 May 2016

Amarinth delivers $1.2M of API 610 high flow pumps to Fjords Processing for produced water treatment on FPSO Catcher - 10/05/2016

Amarinth delivers $1.2M of API 610 high flow pumps to Fjords Processing for produced water treatment on FPSO Catcher

Amarinth, a leading company specialising in the design, application and manufacture of centrifugal pumps and associated equipment to the Oil & Gas, petrochemical, chemical, industrial and power markets, has delivered $1.2M of API 610 overhung high pressure, high flow, low-shear duplex pumps to Fjords Processing for produced water treatment duties aboard the FPSO Catcher which is currently being assembled in Singapore and destined for the Premier Oil operated Catcher field in the UK North Sea.

Discovered in 2010, the Catcher field is located 180 kilometres east of Aberdeen in the North Sea and is expected to produce 96 million barrels of oil with a peak production rate of around 50,000 barrels of oil per day. The field will be operated by Premier Oil using the Floating Production Storage and Offloading (FPSO) Catcher, with production starting in 2017. The hull for FPSO Catcher is being built by Japan’s IHI and upon delivery the topsides and the hull will then be assembled in Singapore.

The produced water treatment plants being supplied to FPSO Catcher by Fjords Processing specified pumps with an 80m head but a high flow rate of 920m3 per hour, which meant impeller sizes of over 0.5m. Such large pumps are usually configured as expensive between bearing pumps but Amarinth used its experience and expertise to select a much more cost-effective overhung design that could meet the duties.

Typically, such large overhung pumps would be operating at the hydraulic limits for this type of pump but Amarinth’s robust high-quality design ensured that the pumps were exceptionally well-balanced with tight concentricity tolerances thereby keeping vibration within the API 610 project specifications and noise levels below 85 dB(A). Most of the pumps were also supplied with dual seals and Plan 53B seal support systems.

In addition to the demands of the high pressure and flow, the pumps were required to exhibit low-shear properties in order that the produced water treatment plants could separate and capture oil from the water before returning the cleaned water to the sea. For produced water treatment plants to work efficiently it is crucial that the mixing of oil and water being pumped must be minimised, preventing restructuring and emulsification during the transfer of the fluid through the separation system. Amarinth has undertaken extensive research and development into low-shear pump design and so was also able to apply this experience to this project.

Oliver Brigginshaw, Managing Director of Amarinth, commented: “We are delighted to have supplied Fjord Processing with these pumps which meet the required duties but at a considerable cost saving over what would have been traditionally proposed. Our active research and development programme continues to extend the duty envelope for centrifugal pumps enabling us to meet the ever increasing demands of the oil and gas industry as it produces oil and gas from more challenging fields.”

Warm or Cold? The Hunt for Answers to the Drilling Dilemma Remain Elusive - 10/05/2016

Warm or Cold? The Hunt for Answers to the Drilling Dilemma Remain Elusive

Drilling contractors are being advised to consider the full picture of costs as they make increasingly tough choices surrounding preservation and lay-up for out-of-contract mobile drilling units. Should they demobilise the full crew and protect the asset with vapour corrosion inhibitors and dehumidification, known as cold stacking? Or should they warm stack – keeping the drill ship, semi-submersible or jack-up in a state of readiness with key personnel and to a reduced corrosion and humidity control package? A cold stacked rig which is unmanned or has a skeleton crew may be, on the face of it, a more financially appealing option as oil prices continue to remain within the “nothing works at $30 - $50 a barrel” bracket; especially when expensive routine maintenance can be deferred.

While the costs of cold stacking a mobile offshore rig are undoubtedly considerably cheaper than warm stacking – estimates of day costs for a cold stacked jack up rig are less than $5,000 and can be lower in the region of $3,500 a day if the cold stacked rigs are clustered – while a warm stacked rig – idle but partially crewed and fully maintained – is closer to the $20,000 a day range.

But are the cost savings as clear as these figures make out?

One of the key issues facing drillers as they grapple with this dilemma is how to ensure that a cold stacked mobile drilling unit is an adequately protected asset which remains viable once the market strengthens.

Allan Durham, Director of CSL Presserv, a leading preservation and mothballing contractor explains, “This industry is seeing an unprecedented rise in the volume of mobile drilling units coming off contract with no mid-term redeployment in sight. There’s a growing sentiment that we will experience lower oil prices for longer and E & P companies globally are focusing on preserving cash and low cost/near- term production.

“Without the adequate investment in a robust preservation programme in place for out-of-contract drilling assets, the costs of bringing these rigs back into production when there is a more positive economic landscape within the industry, could be far higher than predicted.  The global drilling industry needs an economical solution to protect these units for a minimum of 24 months with options to extend to 36 months and beyond until demand for mobile drilling rigs returns to 2013/2014 levels. Drilling companies need a preservation specification ideally based on vapour phase technology and dehumidification. This standard of preservation will protect drill ships, semis and jack ups for extended periods of time and keep them in a state of readiness with the minimum of mechanical maintenance needed.

“Current technology provides that even in a cold stack environment with no crew, a mobile drilling unit will remain corrosion free for 24-36 months with no retreatment requirement and minimal reactivation costs.

“However, although on the face of it, cold stacking is a more cost effective option, it also has its inherent problems. A warm stacked rig, with experienced crews who are familiar with the equipment and its operation, know how to run a unit efficiently. Losing these key staff and contractors if the rig is cold stacked, will leave a void once the market turns. We know we have an ageing workforce, but with age comes experience and this will prove very difficult to find when the time comes to bring these rigs back to full operation.

“Careful consideration has to be given to warm stacking versus cold stacking; although the initial costs are higher in a warm stack mode, the chances are the equipment on-board will be better maintained and less liable to the effects of dormancy than that of cold stacking.  It should also be borne in mind that a return to service for a cold stacked drilling unit could mean repair costs to equipment that would normally be run at periodic intervals, whereas redeployment of a warm stacked rig would done from operational expenditure.

“Forecasting and strategizing on how many rigs to warm or cold stack requires a crystal ball. Who could have predicted, on Monday 3 May, that oil prices would rise that week following supply disruption due to the Canadian wild fire? And who, on Thursday 5 May could predict how long this unexpected supply disruption would support oil prices? And with 55% of all the jack up rigs being built before the 1990s what is their future after cold stacking?

“Drilling contractors need to think carefully about asset protection and investing in competent preservation contractors. Many preservation companies which have never before been involved in stacking – and who have seen turnover from their other services significantly affected by the downturn - are now adding a range of preservation offerings to their capabilities. In many cases it will be the drilling contractors who end up paying for badly preserved and often damaged equipment and systems. Cutting corners on a preservation programme may bring short term savings during a period of unprecedented downturn, but a disproportionate price tag is likely when the unit is reactivated. The selection of a reputable contractor who has a longstanding track record in this specific area is imperative.”

CSL Presserv is part of the Presserv group which has designed preservation specification based on vapour phase technology and dehumidification that will protect drill ships, semis and jack-ups for extended periods and keep them in a state of readiness with the minimum of mechanical maintenance needed.

LEADING SUPPLIER WARNS OIL AND GAS BUSINESSES CAN ONLY RETAIN COST AND TIME BENEFITS BY USING ACCREDITED PROVIDERS - 10/05/2016

LEADING SUPPLIER WARNS OIL AND GAS BUSINESSES CAN ONLY RETAIN COST AND TIME BENEFITS BY USING ACCREDITED PROVIDERS

A leading supplier to the oil and gas industry has warned sector businesses trading internationally that choosing appropriate freight forwarding and logistics partners is now more vital than ever.

Leeds-based Tudor International Freight said industry participants are set to lose significant cost and speed benefits once the EU’s Union Customs Code legislation takes effect on 1 May, unless they employ a logistics partner who holds Authorised Economic Operator (AEO) accreditation. A mere 300 UK-based organisations currently enjoy full AEO status, which is awarded by HM Revenue & Customs (HMRC). 

The internationally-recognised AEO quality mark confirms a provider’s role in the international supply chain is secure and its controls and procedures meet demanding efficiency and compliance standards. Companies with full authorisation can enjoy benefits when transporting goods overseas, including a faster application process for customs authorisations and a reduction in the level of financial guarantees required.

Providers with full AEO status enjoy these advantages across the EU and in other countries with which it has mutual recognition agreements, including the USA, Japan and China.

Tudor recently joined the ranks of organisations with full AEO accreditation.

David Johnson, the company’s managing director, said: “We’re delighted to have become an AEO. Most of the other organisations with full status are large worldwide multinationals, which makes our achievement - we operate from just one site - all the more impressive.  

“Specifically, suppliers with full accreditation can now help clients in the oil and gas industry benefit from a faster application process for simplified customs procedures, such as Inward and Outward Processing Relief and Customs Warehousing.

“Inward Processing Relief is a method of obtaining relief from customs duties and VAT charges. It applies to goods imported from outside the EU, processed and exported to countries outside the EU. Outward Processing Relief allows you to temporarily export goods for processing or repair in a non-EU country and pay no or only partial duty when re-importing them.

“Full AEO status means you also qualify for a reduction in the level of financial guarantees required to operate certain procedures. These include the use of a duty deferment account, which enables goods to be cleared through customs without being delayed pending payment of customs duty and import VAT liability. This will allow companies like ours to pass on significant savings to oil and gas industry customers.” 

Mr Johnson said full AEO status, in addition to delivering financial and speed advantages for clients, confirmed a business’s operations met exacting standards. As part of its own accreditation process, for example, HMRC visited Tudor’s head office several times to review its customs processes and procedures and carry out transaction testing with staff members from different departments.

He said: “Among the many aspects of our operations HMRC examined with a fine tooth comb were our customs compliance history, commercial and transport record keeping, financial solvency and practical professional competence.

“We also had to demonstrate security and safety standards adequate for protecting the international supply chain. This requirement covered areas such as physical integrity and access controls, logistical processes and the handling of specific types of cargo, plus personnel and business partner vetting procedures.”

Monday, 9 May 2016

Have your say on the key issues facing the energy industry - 09/05/2016

Have your say on the key issues facing the energy industry

POWER-GEN Europe launches second annual ‘state of the power industry’ survey

POWER-GEN Europe and its co-located event Renewable Energy World Europe, the leading conference and exhibition for the international power and renewable industries, today invites industry professionals to give their thoughts on the issues that matter to them as part of the annual POWER-GEN Europe Confidence Index.

This comprehensive pan-European report, gives a voice to the industry, assists in strategic decision making and gives unique insight into the continent’s power sector.

Speaking to the industry, Nigel Blackaby, Conference Director for POWER-GEN Europe, says: “The Confidence Index gives you – the power industry professional – the opportunity to make your voice heard. Every opinion is valuable. The survey results will provide executives with valuable insights to make informed decisions about the best approaches, technologies and strategies going forward.”

Over 700 participants expressed their opinion and influenced energy industry decision-makers last year – including participants from Advanced Power, Exxon Mobil, Siemens and GE.

The Index revealed that professionals saw the growing share of renewables in the energy mix as the most important issue facing the European power sector in the short term. The issue slipped to second place, behind energy storage, as the forecast expanded to 20 years.

30 per cent of those that downloaded the 2015 Index stated that it was to ‘assist in making strategic decisions about their European business.
70 per cent used the Index to ‘gain insights into the European power market’.

This year’s Index results will allow the industry to begin tracking trends in industry confidence, and to compare changes year-on-year.

Blackaby continues: “The POWER-GEN Europe Confidence Index is unique because it voices the collective opinions of power industry professionals themselves, above those of independent analysts and forecasters. This makes it truly grounded and a valuable guide to the future of our industry.”

Have your say on the sector and share your vision for the future – complete the online comprehensive questionnaire – on the POWER-GEN Europe website.

As an alternative to the online survey, you can also complete the questionnaire at POWER-GEN Europe and Renewable Energy World Europe in Milan from 21st to 23rd June, where there will be a dedicated Confidence Index booth 4HA57 on the exhibition floor.

Information relating to the dividend issue for fourth quarter 2015 - 09/05/2016

Information relating to the dividend issue for fourth quarter 2015 

Stock Market Announcement
Key information relating to the dividend issue (scrip dividend programme) to be carried out by Statoil ASA (OSE:STL, NYSE:STO) in relation to payment of dividend for fourth quarter 2015.
Date on which the terms and conditions of the dividend issue were announced: 14 April 2016

Last day including right: 11 May 2016

Ex-date: 12 May 2016

Record Date: 13 May 2016

Date of approval:  11 May 2016

Maximum number of new shares: 160,000,000

Subscription price: For shareholders on Oslo Stock Exchange (Oslo Børs) the subscription price shall be set to the volume-weighted average share price on Oslo Stock Exchange of the last two trading days of the subscription period for the dividend issue, with a deduction for a discount of 5%. The subscription price may not be lower than NOK 50 or higher than NOK 500 per share. For ADR-holders under the ADR program in the US, the subscription price shall be equal to the subscription price for the shareholders on Oslo Stock Exchange converted into USD based on an average of the Central Bank of Norway’s USD exchange rate over the last two trading days of the subscription period. The subscription price may not be lower than USD 5 or higher than USD 50 per share.

Will the rights be listed: No

Other information:
The subscription period shall commence at the latest on or about 30 May 2016. The subscription period shall be at least 10 business days.

This information is published in accordance with the requirements of the Continuing Obligations.

Thursday, 5 May 2016

80:20 awarded multiple North Sea contracts worth £25 million - 05/05/2016

80:20 awarded multiple North Sea contracts worth £25 million

Procurement specialist 80:20, a Peterson company, has had a successful start to 2016 securing a number of new contracts in the UK worth a combined value of £25 million.

The procurement services projects have been awarded by a number of key oil and gas operators and include two successful re-tenders, each for a further three years. The company will deliver strategic sourcing and supply chain management, working closely with the operators to provide an innovative service using its e-solutions software which has a record of delivering added value. 

Peterson utilises in-house developed systems designed to enable the sharing of data that is often absent in our market place. This brings the benefits of faster response times, more accurate reporting, real time updates, improved cost visibility and centralised capturing of information.  

Managing director Paul Dorward said: “We have had an extremely positive start to 2016, particularly in this difficult market. Our use of innovative commercial and technology solutions has been the driving force behind these wins. 

“We have a highly skilled team of procurement experts and are committed to continuing the development of our people. We have a strong affiliation with the Chartered Institute of Procurement and Supply (CIPS) which is recognised worldwide as the standard for top quality procurement professionals and we believe this is key to clients entrusting 80:20 to deliver their procurement services.” 

The contract wins come as the company continues to grow its international footprint with the opening of a new base in Houston, Texas. Adrian Quick has been appointed as business manager, responsible for the company’s operations in the US. He joins a further two employees in the Houston office with additional hiring plans already in motion in response to growing business.

The company currently employs 36 people worldwide with bases in the UK, Netherlands, Norway, Trinidad and Malta.

Specialist Services achieved 5 million man-hours without Lost Time Injuries - 05/05/2016

Specialist Services achieved 5 million man-hours without Lost Time Injuries

Specialist Services Group has announced their recent achievement of impressive 5 million man-hours of work in their UAE facilities without Lost Time Injuries

Specialist Services Group achieved impressive 5 million man-hours of work in their facilities in Dubai and Abu Dhabi without any Lost Time Injury (LTI). This significant and remarkable milestone has been reached in the period between February 2015 and March 2016, during which there have been no recordable cases of LTI in their yards and offices. 

In the currently challenging oil & gas market, Specialist Services have been working on their processes optimisation, existing products innovation and new product development projects. These have been carried out with their customers’ needs in mind, which mostly include the requirement for globally compliant and transferrable fleets and product customisation, with a special focus on higher specification related to health and safety.

“During the last few years we have implemented various initiatives to manage and improve the safety of our employees and visitors. As a result, we have received various recognitions from renowned certification bodies and clients. Among others, we have been awarded an Appreciation Certificate by the Head of Public Health and Safety Department of Dubai Municipality in 2014, an Appreciation Award from Yokogawa in 2015 and a recognition from Zakum Development Company (ZADCO) just this month for demonstrating excellent HSE performance during our work on their UZ-750 project,” said Ian Rogers, Chief Executive Officer at Specialist Services.

With one of the Specialist Services core values being to pursue quality and safety in all aspects of their work, this outstanding achievement represents a further confirmation of the exceptional working environment in the company already compliant with ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007. 

“In addition to our innovation and optimisation activities, we are achieving excellent results in quality and safety, which are reflected in an increase in customer satisfaction. In the last few years we have been further improving our safety records in line with our goals and some of our employees have also been recognised by our customers for their outstanding performance in health, safety and environment activities. The 5 million man-hours without LTI achievement is a further confirmation of these successful efforts from everyone in our team,” concluded Chris Ridley, Group Sales and Marketing Director at Specialist Services.

Specialist Services Group
Specialist Services Group is a global supplier of modular buildings and packaging solutions for people and equipment in the oil and gas industry. Established in 1982 and with head office in Dubai, the company has developed an international capability in design, engineering, manufacture, installation and support across a broad range of products and services. Over the last 34 years Specialist Services Group has developed into a highly resourced, responsive global company with international facilities in Dubai, Abu Dhabi, Aberdeen, Singapore, Perth and Houston from where they are able to support clients’ requirements worldwide.