tag:blogger.com,1999:blog-39771041208103860532024-03-13T20:53:28.683+00:00Crude Oil Facilitators BlogThe Blog for Crude Oil Facilitators Website.Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.comBlogger2731125tag:blogger.com,1999:blog-3977104120810386053.post-74012997462051730012021-06-29T23:04:00.017+01:002021-06-29T23:04:10.284+01:00TechnipFMC Wins Subsea Contract for Petrobras’ Búzios 6-9 Fields<p class="meta"><span class="" itemprop="author">OE staff</span></p>
<meta itemprop="datePublished" content="2021-06-29T17:16:50.0000000" /><span class="date">June 29, 2021</span>
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<div class="image active" readability="10"><img src="https://images.oedigital.com/images/maritime/w600/jonathan-landes-president-subsea-technipfmc-124002.png" alt="Jonathan Landes, president, Subsea, at TechnipFMC (Photo: TechnipFMC)" />
<p>Jonathan Landes, president, Subsea, at TechnipFMC (Photo: TechnipFMC)</p>
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<p>TechnipFMC said on Tuesday it has been awarded a subsea contract by Petrobras for the Búzios 6-9 fields, located in the deepwater Santos basin offshore Brazil.</p>
<p>TechnipFMC, which called the award is "substantial", worth between $250 million and $500 million, will supply subsea trees with controls, electrical and hydraulic distribution units, topside systems, and installation and intervention support services with rental tooling for deployment in 2,000 meters water depth. Delivery is expected to begin in the first quarter of 2023.</p>
<p>Jonathan Landes, president, Subsea, at TechnipFMC, said, “The Búzios 6-9 fields are major developments in Brazil, and we are very honored to support Petrobras in this subsea project, which further strengthens our long-term partnership. This contract demonstrates TechnipFMC’s unique ability to deliver comprehensive solutions that meet clients’ needs and leverages our expertise in the pre-salt field.</p>
<p>“Sustainability will be at the core of our project delivery. All of the subsea trees will be manufactured at our facilities in Brazil, which are powered entirely from renewable energy sources.</p>
<p>“This contract arrives only weeks after achieving our recent milestone of manufacturing and delivering 700 trees in-country – a further testament to our long-term commitment in Brazil, where local content makes up over 97 percent of our workforce.”</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-35293769321653376922021-06-29T23:04:00.015+01:002021-06-29T23:04:08.994+01:00Mexico's Pemex Unlikely to Get Credit Rating Upgrade, Moody's Says<span class="date">June 29, 2021</span>
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<p>(Photo: CC BY-SA 4.0 Cvmontuy / Wikimedia Commons)</p>
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<p>Ratings agency Moody's Investors Service said on Tuesday that a credit upgrade of Mexican state oil company Petroleos Mexicanos is unlikely given its consistent negative free cash flow generation, despite a recovery in oil prices.</p>
<p>Moody's said that its Ba2 credit rating for Pemex, as the company is known, includes the assumption of "very high government support in case of need and very high default correlation between Pemex and the government of Mexico."</p>
<p>"An upgrade is unlikely given the negative outlook for Mexico's Baa1 rating and Moody's expectations for continued negative free cash flow for Pemex," Moody's said in a statement.</p>
<p><em>(Reporting by Anthony Esposito, Editing by Rosalba O'Brien)</em></p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-10224245961301290852021-06-29T23:04:00.013+01:002021-06-29T23:04:08.572+01:00Ailing Crewman Medecaved from Accommodation Barge off Puerto Rico<span class="date">June 29, 2021</span>
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<p>A Coast Guard helicopter crew rendezvous with the 400-foot DB Superior Performance barge June 28 2021, approximately 140 nautical miles south of Ponce, Puerto Rico during the medevac of a barge crewmember who was experiencing possible cardiac distress. (Photo: U.S. Coast Guard)</p>
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<p>An ailing crewmember was medevaced from a a 400-foot accommodation barge Monday, approximately 140 nautical miles south of Ponce, Puerto Rico, the U.S. Coast Guard said.</p>
<p>Watchstanders at Coast Guard Sector San Juan received a call from the DB Superior Performance barge reporting a medical emergency for a 46-year-old crewmember who was experiencing possible cardiac distress and required specialized medical care ashore. At the time of the emergency, the tugboat Crosby Leader was towing the barge on a voyage from Brazil to the U.S.</p>
<p>Coast Guard watchstanders directed the launch of an MH-60T Jayhawk helicopter from Air Station Borinquen to conduct the medevac. Upon arriving on scene, the helicopter crew lowered their rescue swimmer, along with a rescue basket, who worked with the crew to secure patient and hoist him aboard the aircraft.</p>
<p>The Coast Guard helicopter transported the patient to the Fernando Luis Ribas Dominicci Airport in San Juan, Puerto Rico, where awaiting Emergency Medical Service personnel received and transported him to the Pavia Hospital in San Juan.</p>
<p>“The crew was put together on extremely short notice, however everyone did their part to ensure a successful outcome despite the challenging conditions,” said Lt. Shea Smith, Coast Guard MH-60T aircraft commander for the case. “This goes to show the importance of standardization within the aviation community. It was a great case with an excellent outcome. We are happy we could help a fellow mariner in distress get to a higher level of care.”</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-4810105107741125322021-06-29T23:04:00.011+01:002021-06-29T23:04:08.120+01:00Siem Offshore's CFO Resigns<p class="meta"><span class="" itemprop="author">OE Staff</span></p>
<meta itemprop="datePublished" content="2021-06-29T11:55:37.0000000" /><span class="date">June 29, 2021</span>
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<p>Siem Garnet - Credit: Sean Boyce/MarineTraffic.com</p>
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<p>Norwegian offshore vessel owner Siem Offshore said Tuesday its CFO Dagfinn B Lie had decided to resign.</p>
<p>He'll remain with Siem Offshore until September 30, 2021.</p>
<p>"The company would like to thank Mr. Lie for his contribution and devotion to the company for the past 14 years, and we wish him good luck with new endeavors," Siem Offshore said without providing further details behind the CFO's decision to resign.</p>
<p>Earlier this month, Siem Offshore sold two AHTS vessels Siem Garnet and Siem Diamond for further trading outside the offshore shipping industry. </p>
<p>The company <strong>said at the time its objective was to reduce debt</strong>, and that surplus cash after debt repayment on the two vessels sold would be used for additional debt repayment on the 8 remaining AHTS vessels in accordance with the restructuring plan agreed with its secured lenders in May.</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-68566547168801994952021-06-29T23:04:00.009+01:002021-06-29T23:04:07.238+01:00Offshore Technology Conference Speakers Announced<div><img src="https://images.oedigital.com/images/maritime/w800/credit-elnuradobestock-123990.jpg" class="ff-og-image-inserted" /></div>
<p>The Offshore Technology Conference (OTC), one of the world's largest offshore energy technology-focused events, on Tuesday announced the names of executives participating in this year’s Opening General Session panel and first-ever Executive Dialogue series. </p>
<p>The event, held annually in Houston, and canceled last year to the coronavirus outbreak, will this year be held in mid-August.</p>
<p>According to the organizers, the Opening General Session panel and the first-ever Executive Dialogue series will discuss the role of the offshore sector in meeting global energy and sustainability challenges and creating new, viable pathways to achieve net-zero by 2050.</p>
<p>"OTC serves as a critical forum for the leading industry experts to discuss, debate and deliberate the innovations and technologies shaping the next generation of offshore resource development,” said <strong>Leigh Ann Runyan</strong>, Executive Director, OTC. </p>
<p>"Right now, the industry is at an inflection point as energy companies are tasked with meeting increasing demand, while helping facilitate a low-carbon future. This year, we look forward to engaging our tableau of speakers in meaningful conversations about these challenges and other critical issues facing the offshore energy sector.”</p>
<p>The Opening General Session will be held Monday, 16 August from 9:00-10:30 a.m. CST and the Executive Dialogue Series will take place throughout the day on Monday, 16 August and Tuesday, 17 August.</p>
<p><strong>Opening General Session Panelists:<br /></strong></p>
<p>During the Opening General Session, panelists will discuss the potential pathways for achieving mid-century climate goals and the role of the offshore sector in deploying low-carbon energy technologies and reducing our global carbon footprint.</p>
<p> Abdulrahman Abdulla Al Seiari, Chief Executive Officer – Abu Dhabi National Oil Company (ADNOC) Drilling<br />
Amy Bowe, Head of Carbon Research – WoodMackenzie<br />
Jonathan Landes, President Subsea – TechnipFMC<br />
Bill Langin, Senior Vice President – Deepwater Exploration, Shell<br />
Erik Milito, President – National Ocean Industries Association (NOIA) (Moderator)</p>
<p><strong>Executive Dialogue Presenters:</strong></p>
<p>The Executive Dialogue Series is a new 2021 initiative aimed at engaging executives at the top of their respective fields in thoughtful discussions about the innovations, corporate shifts, and policies needed to drive the future of offshore energy and the energy transition forward.</p>
<p> Damian Bednarz, External Affairs Director – EnBW (co-presenting)<br />
Dr. David Callender, President and Chief Executive Officer – Memorial Hermann Health System<br />
Peter Green, Deputy Laboratory Director, Science and Technology – National Renewable Energy Laboratory<br />
Katie Mehnert, CEO – ALLY Energy<br />
Ester Morales, Executive Director – Clean Energy Leadership Institute*<br />
Bill Vass, Vice President Engineering – Amazon Web Services<br />
Daryl Wilson, Executive Director – Hydrogen Council<br />
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OTC 2021 will be held as a hybrid event at NRG Park in Houston 16-19 August 2021 and will include both in-person and virtual programming. </p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-23225112185017342402021-06-29T23:04:00.007+01:002021-06-29T23:04:06.478+01:00Engineering Firm Wood to Pay $177M to Settle Amec Foster Wheeler's Brazil Bribery Case<div><img src="https://images.oedigital.com/images/maritime/w800/creditluanadobestock-123988.jpg" class="ff-og-image-inserted" /></div>
<p>UK-based engineering firm John Wood Group, also known as Wood, on Monday said it had reached agreements with authorities in the UK, Brazil, and the U.S. to resolve their respective bribery and corruption investigations into the past use of third parties in the legacy Amec Foster Wheeler business.</p>
<p>The U.S. Department of Justice last week that Amec Foster Wheeler, a subsidiary of John Wood Group plc (Wood), had admitted to paying bribes to officials in Brazil in exchange for an approximately $190 million contract to design a gas-to-chemicals complex.</p>
<p>According to the company’s admissions, as cited by DoJ, between 2011 and 2014, Amec Foster Wheeler conspired with others, including an Italian sales agent affiliated with a Monaco-based intermediary company, to pay bribes to decision-makers at Petrobras in order to win an approximately $190 million contract from Petrobras to design a gas-to-chemicals complex in Brazil called Complexo Gás-Químico UFN-IV. </p>
<p>The company, through certain of its employees and agents, took acts in furtherance of the scheme while located in New York and Texas, and earned at least $12.9 million in profits from the corruptly obtained business, the DoJ said.</p>
<p><strong>$177 million</strong></p>
<p>Under the terms of the settlement agreements announced by Wood on Monday, Wood agreed to pay compensation, disgorgement and prejudgment interest, fines, and penalties totaling $177 million. </p>
<p>The payment will be phased over the next three years with approximately $62 million to be paid in the second half of 2021, and the remaining amount will be paid in installments in 2022, 2023, and 2024. </p>
<p>"The resolutions relate to historical conduct which occurred before Amec plc acquired Foster Wheeler AG in November 2014 and prior to the combined firm's acquisition by Wood in October 2017. Wood cooperated fully with all authorities in their investigations, which is reflected in the cooperation credit that Wood received from the authorities in their respective resolutions," Wood said.</p>
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<p>In relation to the UK, a three-year deferred prosecution agreement ('DPA') relating to the use of third-party agents for bribery and corruption in five countries by Foster Wheeler has been agreed with the SFO and was the subject of a preliminary Crown Court hearing Monday. Wood and the SFO will seek final judicial approval of the DPA from the Court on 1st July 2021.</p>
<p>Wood has also entered into a three-year DPA with the U.S. Department of Justice DOJ, a cease & desist order with the SEC, and leniency agreements with a term of 18 months with the Brazilian authorities, all in relation to the historical use of third-party agents for bribery and corruption in connection with winning a project in Brazil.</p>
<p>"Assuming that final judicial approval is received in the UK, it will officially conclude these investigations into the legacy Amec Foster Wheeler business," Wood said.</p>
<p><strong>Robin Watson</strong>, Chief Executive, Wood, said: "The investigations brought to light unacceptable, albeit historical, behavior that I condemn in the strongest terms. Although we inherited these issues through acquisition, we took full responsibility in addressing them, as any responsible business would. </p>
<p>"Since our acquisition of Amec Foster Wheeler, we have cooperated fully with the authorities and have taken steps to further improve our ethics and compliance program from an already strong foundation. I'm pleased that, subject to final court approval in the UK, we have been able to resolve these issues and can now look to the future."</p>
<p><strong>Roy Franklin</strong>, Chair, Wood, said: "The historical conduct that led to these investigations does not reflect the values of Wood that unite us as a global team. The resolutions underline why we attach such importance to upholding the highest standards of ethics and compliance in all parts of the world where we operate, and why we continue to invest in strengthening our governance in this area."</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-49742218525227152562021-06-29T23:04:00.005+01:002021-06-29T23:04:05.882+01:00Enauta's Output Doubles as Barra Exits Atlanta Field Offshore Brazil<div><img src="https://images.oedigital.com/images/maritime/w800/petrojarl-credit-teekay-123985.jpg" class="ff-og-image-inserted" /></div>
<p>Brazilian oil company Enauta said Monday it had completed the transfer of a 50% stake in the Atlanta offshore field, previously held by Barra Energia. </p>
<p>Enauta in April said it had received regulatory approval to take full ownership of the Atlanta offshore oil field in Brazil, following the decision by its <strong>partner Barra Energia to exit the field located in the Santos Basin.</strong></p>
<p>The Atlanta Field currently produces via two wells connected to Petrojarl I FPSO, with plans for a third well to resume operations in the coming weeks. </p>
<p>Following the acquisition of Barra's stake, the oil production reported by Enauta will double from around 9,000 to 18,000 barrels of oil per day immediately, achieving nearly 22,500 barrels of oil per day after the entry of the third well, which will represent an all-time high oil production for Enauta, the company said.</p>
<p>Additionally, Enauta said that activities were underway to expand the water treatment capacity of the FPSO and increase oil production, with the first phase expected to be concluded by the end of this year. </p>
<p>"Furthermore, Enauta is evaluating the possibility of anticipating the drilling of the fourth well in the Field," it added.</p>
<p>Also, Enauta said Barra would pay it $ 43.9 million for the future abandonment of operations for the three wells and the decommissioning of existing facilities in the Atlanta Field this month.</p>
<p>Teekay Petrojarl I, the FPSO currently at the field, had spent almost three decades working in the North Sea, before moving to Brazil, where it started production at the Atlanta field in 2018.</p>
<p>Enauta said earlier this year that it was working to further develop the field via a new FPSO for which it launched a tender in March.</p>
<p>Enauta in March said it expected the bidding process for the full field development FPSO would take 10 to 12 months to complete, with companies with proven experience in developing similar projects invited to take part.</p>
<p>The bidding considers an FPSO with a capacity to process 50 thousand barrels of oil per day, to which 6 to 8 producing wells will be connected, including the 3 wells already in operation in the Early Production System (EPS).</p>
<p>According to Enauta, the bidding process considers the adaptation of an existing FPSO, which has never been deployed, made possible by an exclusive agreement for 12 months with an option to purchase signed by Enauta.</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-5836826672259731302021-06-29T23:04:00.003+01:002021-06-29T23:04:05.249+01:00Norway: Equinor's Breidablikk Field Development Plan gets Approval<span class="date">June 29, 2021</span>
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<p>The Norwegian government has approved Equinor's plan for the development and operation of the Breidablikk field in the North Sea, off Norway.</p>
<p>Equinor estimates it will take around NOK 18.6 billion (around $2,17 billion) to develop the field. Production from the field is scheduled to start in the first half of 2024.</p>
<p>Equinor and its partners Petoro, Vår Energi, and ConocoPhillips Skandinavia, filed the development plans for the area to the authorities in September 2020. The estimated recovery from the field is around 200 million barrels of oil.</p>
<p>"The development of one of the largest undeveloped oil discoveries on the Norwegian continental shelf (NCS) will create substantial value for Norwegian society and the owners, while securing high activity and jobs for many years ahead,” says <strong>Arne Sigve Nylund,</strong> Equinor’s executive vice president for Projects, Drilling and Procurement.</p>
<p>Equinor said that 70% of the value creation in the development phase goes to Norwegian companies, and contracts totaling NOK 8 billion ($934,4 million) have already been awarded to companies in Norway.</p>
<p>The Breidablikk development will include a subsea solution of 23 oil-producing wells from four subsea templates. The field will be tied back to the Grane platform for processing before the oil is piped to the Sture terminal. The production will be monitored by digital tools from Equinor’s integrated operations center at Sandsli.</p>
<p>“There are still large resources left in the ground and we have a world-class infrastructure on the NCS. The Breidablikk development shows how a competent Norwegian petroleum industry keeps developing innovative, cost-effective and future-oriented solutions with good social economy,” says Kjetil Hove, Equinor’s executive vice president for Exploration and Production Norway.</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-70546920532435419942021-06-29T23:04:00.001+01:002021-06-29T23:04:04.451+01:00Vattenfall to Build Giant Warehouse for Wind Turbine Components in Esbjerg, Denmark<div><img src="https://images.oedigital.com/images/maritime/w800/credit-vattenfall-123979.jpg" class="ff-og-image-inserted" /></div>
<p>Wind farm developer Vattenfall said Tuesday it would build its largest warehouse in Northern Europe with critical main components and spare parts for wind turbines at the Danish Port of Esbjerg.</p>
<p>The 2,100 sqm indoor warehouse and an 8,200 sqm outdoor storage facility will serve wind farms in Great Britain, Scandinavia and Northern Europe when ready in 2022.</p>
<p>"It is from this central warehouse facility in Esbjerg that the major part of Vattenfall’s wind farms in Northern Europe will be supplied with critical main components such as gearboxes, generators, transformers, shafts and blades as well as the main components necessary for bringing the electricity on shore such as array cables and switchgear. The warehouse will be a supplement to the dedicated warehouses that will still serve the individual wind farms," Vattenfall said.</p>
<p>”The Port of Esbjerg is the ideal place for us to build such a warehouse due to its central location in Northern Europe and the professional way the port is operated. It will provide economies of scale compared to having vital main components stored at several smaller locations, and it is a central part of our ambition to see growth in wind farms across Northern Europe,” says<strong> Pia Bonding</strong>, Head of Integrated Operations at Vattenfall.</p>
<p>According to Vattenfall, the company is operating more than 1,300 onshore and offshore wind turbines in Northern Europe dispersed across farms from Northern Sweden over Denmark to Germany and the Netherlands. </p>
<p>"Already today, the farms are monitored from Vattenfall’s local control room in Esbjerg and in future the town will also be the hub for a central warehouse for these wind farms," the company said.</p>
<p><strong>Dennis Jul Pedersen</strong>, CEO of the Port of Esbjerg, said: "It was a condition for Vattenfall that the building was close to the quay. It is part of the port’s strategy to be able to deliver this type of solution, and the former ferry terminal has been laid out for this type of activity,” says.</p>
<p>The construction work will begin at the end of June this year, and is expected to be completed some ten months later. After that, the warehouse has to be stocked and made ready for operation in June 2022.</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-9594349519539333342021-06-29T14:06:00.013+01:002021-06-29T14:06:04.131+01:00Nigeria's Senate to Present Long-awaited Oil Overhaul Bill for Passage<p class="meta"><span class="" itemprop="author">Camillus Eboh and Libby George</span></p>
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<p>Nigeria's senate will present a long-awaited<span data-qa-component="highlight-text"> oil </span>overhaul bill to the full chamber for passage on Tuesday, according to an order paper seen by Reuters.</p>
<p>The president sent the bill to the National Assembly in September last year, and presentation to the full chamber means the senate is ready to pass the package, although the timeline of passage was not immediately clear.</p>
<p>The bill aims to modernize Nigeria's petroleum industry and attract a shrinking pool of global fossil fuel investment dollars. Observers had hoped the political alignment of the presidency and the National Assembly would break a cycle of failure that has stalked overhaul efforts for 20 years.</p>
<p>But the House has not updated its timeline for considering the bill, and sources told Reuters the chamber could be a bigger obstacle to quick passage.</p>
<p>There are demands for big changes to the bill, including from community leaders seeking an increased share of revenue, could push its passage into late this year.</p>
<p>(Reporting by Camillus Eboh and Libby George, writing by Libby George; Editing by Bernadette Baum)</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-30933834235203978052021-06-29T14:06:00.011+01:002021-06-29T14:06:03.558+01:00Shell Takes Technical Developer Role at Acorn CCS Proejct<div><img src="https://images.oedigital.com/images/maritime/w800/credit-acorn-123976.png" class="ff-og-image-inserted" /></div>
<p>Oil and gas major Shell is taking the role of Technical Developer for the Acorn Carbon Capture and Storage (CCS) Project in Scotland, the partners in the project said Tuesday.</p>
<p>The carbon capture and storage project in the UK, run by Storegga, Shell, and Harbour Energy, includes the CO2 capture project at St Fergus and the transport and storage project which will transport CO2 offshore from St Fergus through the existing Goldeneye pipeline to the Acorn CO2 Storage Site – a large volume of sandstone rock, found over 2.5km under the seabed, approximately 100km offshore from St Fergus.</p>
<p><span>As Technical Developer, Shell will be assuming responsibility for the technical planning and execution of these CCS projects using its capability and experience in major infrastructure developments. </span></p>
<p><span>"These projects establish St Fergus as the hub for the Scottish Cluster as a key enabler in the transition to low carbon energy, and create growth potential for future CO2 transportation and storage," the partners in the project said.</span></p>
<p>Storegga, through its subsidiary Pale Blue Dot Energy, will continue as the Lead Project Developer for Acorn.</p>
<p>Based at the St Fergus gas terminal in North East Scotland, Acorn CCS plans to repurpose existing gas pipelines to take CO<sub>2</sub> directly to the offshore storage site.</p>
<p>Acorn CCS Phase One would see around 300,000 t/yr of existing CO2 emissions from the St Fergus gas terminal captured, dried, compressed and sent through the Goldeneye pipeline to be injected into the offshore site.</p>
<p>According to information on the project's website, the first phase of Acorn CCS offers a low capital cost start, that can be delivered by the mid-2020s – establishing the critical CO<sub>2</sub> transport and storage infrastructure required for the wider Acorn build-out including Acorn Hydrogen and the import of CO<sub>2</sub> to St Fergus from ships at Peterhead Port and from Scotland’s industrial Central Belt.</p>
<p>The project is funded and supported by industry partners (Storegga, Shell and Harbour Energy), the UK and Scottish Governments and the European Union. It is led by Storegga's Pale Blue Dot Energy with Shell now working as the Technical Developer for the Acorn CCS Project.</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-57747145163896009972021-06-29T14:06:00.009+01:002021-06-29T14:06:02.843+01:00TotalEnergies Books Shelf Drilling Jack-up for Nigerian Drilling Campaign<div>
<p class="meta"><span class="date">June 29, 2021</span></p>
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<p>Oslo-listed drilling firm Shelf Drilling has secured a contract for the Baltic jack-up rig with TotalEnergies in Nigeria.</p>
<p>TotalEnergies local subsidiary Total E&P Nigeria Limited will use the jack-up drilling rig for five wells, plus extension options.</p>
<p>The contract for the ABS-classed rig is planned to start in June 2021 and will last for 380 days, excluding extension options. Shelf Drilling did not share the financial details.</p>
<p>The Baltic, of the Marathon LeTourneau Super 300 design, was built in 1983 and upgraded in 2015. It can operate in water depth of up to 375 feet,(114.3 meters).</p>
<p>Shelf Drilling acquired the rig - previously known as GSF Baltic - from Transocean in 2012, after Transocean agreed to sell 38 jack-ups to Shelf. The sale marked Transocean's exit from the shallow water drilling business.</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-2220586857570986122021-06-29T14:06:00.007+01:002021-06-29T14:06:02.246+01:00Australia's Oil Industry Slams 'Extreme' Levy for Timor Sea Field Decommissioning<div><img src="https://images.oedigital.com/images/maritime/w800/illustration-credit-simonpeteradobestock-123971.jpg" class="ff-og-image-inserted" /></div>
<p data-testid="paragraph-0">Australia's oil industry lobby group on Tuesday slammed as "extreme" the amount the government has proposed as a levy on all of the country's offshore oil producers to cover the cost of decommissioning an offshore field.</p>
<p data-testid="paragraph-1">The levy was announced in May, catching the industry by surprise but the details on the per barrel charge were not announced. However, a discussion paper posted on the Department of Industry's website on June 24 said a charge of A$0.48 ($0.36) per barrel would be imposed. </p>
<p data-testid="paragraph-2">"To slug an entire industry A$0.48 per barrel and not put an end date on it is over the top," said Andrew McConville, chief executive of the Australian Petroleum Production and Exploration Association (APPEA).</p>
<p data-testid="paragraph-3">The levy, to apply from July 1, is being imposed to cover the cost of removing facilities and rehabilitating the Laminaria-Corallina oil fields in the Timor Sea as the fields' owner, Northern Oil & Gas Australia (NOGA) collapsed in 2019.</p>
<p data-testid="paragraph-3">A spokesman for Resources Minister Keith Pitt said discussions with the industry on the levy are due to continue through July.</p>
<p data-testid="paragraph-3">The government has not said how much it expects decommissioning to cost but analysts have said it could be well above an early estimate of A$250 million ($190 million).</p>
<p data-testid="paragraph-3">McConville said the government should look for ways to cut the costs and consider other ways to recover those costs.</p>
<p data-testid="paragraph-3">The government's latest forecast for oil production in the year to June 2022 is 322,000 barrels per day, most of which is offshore.</p>
<p data-testid="paragraph-3">Australia's offshore oil producers include Chevron Corp, Exxon Mobil Corp, Royal Dutch Shell, Inpex Corp, Eni, TotalEnergies, BHP Group, Woodside Petroleum, and Santos.</p>
<p data-testid="paragraph-3">Chevron, Exxon and Shell have all said they oppose having to pay the levy when they never had a stake in the fields NOGA operated.</p>
<p data-testid="paragraph-10">"We'll continue to work with the government on the direction it goes in, but we don't support the levy," Shell's Australia Chairman Tony Nunan said at a Credit Suisse conference on June 9.</p>
<p data-testid="paragraph-11">($1 = 1.3238 Australian dollars)</p>
<p>(Reporting by Sonali Paul; Editing by Christian Schmollinger)</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-62869336202636708812021-06-29T14:06:00.005+01:002021-06-29T14:06:01.680+01:00Saipem Charters Ultra-deepwater Drillship from Samsung Heavy Industries<div><img src="https://images.oedigital.com/images/maritime/w800/-123969.jpg" class="ff-og-image-inserted" /></div>
<p>Italian oilfield services giant Saipem has chartered a newbuild drillship directly from South Korea's Samsung Heavy Industries shipyard.</p>
<p>Saipem expects the drillship - named Samsung Santorini - to be delivered in November 2021, when the Italian firm will take the 7th generation rig on a two-year charter. </p>
<p>No dayrate details have been shared. Recent fixtures for 6th/7gen rigs saw dayrates in the $190.000-$210.000 per day range, according to Bassoe data.</p>
<p>While Saipem did not explicitly say it, the Samsung Santorini is a drillship previously ordered by Ocean Rig, a drilling firm that Transocean acquired in 2018. <strong>In September 2019, Transocean canceled</strong> the orders with Samsung for two newbuild drillships - the Ocean Rig Santorini and the Ocean Rig Crete.</p>
<p>Back to Saipem's charter of the 228 meters long rig. The Italian company, which offers all kinds of services in the energy market, including engineering, construction, installation, and drilling, said the drillship charter deal would allow it to strengthen the competitiveness of its fleet without investing in new assets.</p>
<p>Still, Saipem said the contract with Samsung included an option for Saipem to buy the ship. This option can be exercised at the discretion of Saipem depending on the trend of demand. Saipem did not talk about purchase prices. VesselsValue estimates the current value of the drillship at around $255 million.</p>
<p>"The Samsung Santorini is a seventh-generation drillship equipped with two 7 cavities anti-eruption devices (Blow Out Preventer – BOP), the highest standard for ultra-deepwater drillships," Saipem said.</p>
<p>The drillship is capable of operating at water depths up to 12,000 feet (over 3,500 meters). </p>
<p>"The vessel holds the latest solutions in the field of digitalization and automation that guarantee high standards of safety and respect for the environment that place it at the top of the offer in terms of technology for ultra-deep-water projects," Saipem said.</p>
<p>Marco Toninelli, COO Drilling Offshore said: "Samsung Santorini enters the Saipem fleet with an innovative rental agreement and expands its offer with one of the best latest generation drillships, capable of carrying out operations with the best safety standards and protection of the surrounding marine environment. </p>
<p>"Santorini increases our production capacity and allows us to meet the demand for new contracts at a stage in which Saipem's current offshore drilling fleet has almost full contractual coverage for the next few months.”</p>
<p>This will be the third drillship in the Saipem fleet, joining the Saipem 12000 and Saipem 10000 ultra-deepwater drillships.</p>
<p>Saipem’s offshore drilling fleet includes ultra deep-water and deep-water units capable of operating at depths of over 3,000 meters; a high-specifications jack-up for operations at a depth of up to 375 feet; a standard jack-up for operations up to 300 feet; and a barge tender rig.</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-86302753126068801402021-06-29T14:06:00.003+01:002021-06-29T14:06:00.875+01:00PXGEO Buys Fugro's OBN Subsidiary Seabed Geosolutions<p class="meta"><span class="" itemprop="author">OE Staff</span></p>
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<p>Seabed Geosolutions' Manta OBN - Credit: Seabed Geosolutions</p>
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<p>Offshore seismic surveyor PXGEO has completed the acquisition of Fugro's subsidiary Seabed Geosolutions, a company specializing in Ocean Bottom Node surveys.</p>
<p>"The acquisition includes a substantial ocean bottom node inventory, handling equipment, related technology, intellectual property and project backlog. In addition, a significant number of personnel responsible for the successful delivery of over 44,000 sq. km. of OBN projects have accepted employment with PXGEO," PXGEO said. It did not say how many people exactly had joined the company.</p>
<p><strong>Duncan Eley</strong>, CEO of PXGEO said: "This is a key milestone for PXGEO, enabling us to provide both towed streamer and OBN geophysical services to our global client base. The acquisition also brings an important portfolio of proprietary OBN technology to the company. </p>
<p>"PXGEO is currently engaged on two flagship projects: an OBN crew and assets deployed in South America; and the PXGEO 2, our 14-streamer seismic vessel, acquiring data on a 4D project in East Asia. Both projects have successfully mobilized and are well-positioned to deliver safe, efficient and high-quality outcomes for the respective clients," Eley said.</p>
<p>Fugro first announced the agreement to sell Seabed Geosolutions to PXGEO back in March.</p>
<p>The company at the time said the agreed price was $16 million.</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-54422038143136295712021-06-29T14:06:00.001+01:002021-06-29T14:06:00.084+01:00AqualisBraemar LOC Wraps Work on Sable Project in Canada<div><img src="https://images.oedigital.com/images/maritime/w800/photo-photographic-courtesy-exxonmobil-canada-123967.jpg" class="ff-og-image-inserted" /></div>
<p>AqualisBraemar LOC, energy and marine industry consultants, said Tuesday it had wrapped up its work on the Sable Project decommissioning and removal campaign off the coast of Nova Scotia, Canada.</p>
<p>The Sable Offshore Energy Project was developed in the late 1990s and produced more than two trillion cubic feet of natural gas and liquids before production finished on December 31, 2018.</p>
<p>AqualisBraemar LOC was appointed in 2017 by ExxonMobil to act as marine warranty surveyor to ensure the safe removal and transatlantic transportation of seven platforms including topsides and jackets with a combined total weight in excess of 45,000 mt.</p>
<p>The work was led and executed by AqualisBraemar LOC’s Canadian operation, with support from the group’s global decommissioning team including the UK, for the load-in operations.</p>
<p>"Over 6,000 hours in total were spent on the project, with the majority executed in 2020, in the midst of the pandemic. The last shipment arrived in the UK in early 2021. Ninety-nine per cent of the material will be recycled," AqualisBraemar LOC said.<br />
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Ewan Browell,</strong> Head of AqualisBraemar LOC’s Canadian operations said: "Sable was a large and complex project in that it consisted of seven platforms and subsea infrastructure at five different locations." </p>
<p>Dutch offshore installation and removal firm Heerema Marine Contractors, using its giant semi-submersible crane vessel Thialf, late last year said it had completed an eight-month-long campaign to remove the Sable Project’s offshore platforms for ExxonMobil in Canada.</p>
<p> The campaign entailed the Engineering, Preparation, Removal, and Disposal (EPRD) of seven platform topsides, seven jackets and 22 conductors. A total of five barge loads carrying Sable platform components, weighing approximately 48,000 metric tons, were towed across the Atlantic by the Heerema tugs Kolga and Bylgia.</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-34716265251289837362021-06-29T14:05:00.005+01:002021-06-29T14:05:59.377+01:00Spirit Energy's Morecambe Bay Platforms Arrive at CessCon Yard for Decommissioning<p>CessCon Decom, a Scotland-based firm specializing in decommissioning of oil and gas structures, has taken delivery of the DP3 and DP4 offshore platforms from Spirit Energy’s Morecambe Bay development in the East Irish Sea.</p>
<p>Allseas’ single-lift vessel Pioneering Spirit delivered the two topsides to CessCon Decom's Energy Park Fife Facility. The topsides were transferred to Allseas’ Iron Lady barge in the River Forth before being offloaded across the quay to the dismantlement area.</p>
<p>The contract to decommission, decontaminate, dismantle, and recycle the DP3 and DP4 assets involves the processing of up to 23,000 tonnes of material at our Energy Park Fife Decommissioning Facility in Fife, Scotland.</p>
<p>The DP3 and DP4 installations which previously produced part of Spirit Energy’s Morecambe Bay gas fields – installed in the 1980s – were removed from the East Irish Sea earlier this year after a campaign to plug and abandon the platforms’ 12 wells.</p>
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<p>The DP3 and DP4 offshore platforms first produced gas in 1985 when the South Morecambe field came online. The area continues to produce from the Central Morecambe, North Morecambe, DP6 and DP8 platforms.</p>
<p>Johan Paauwe, Project Manager at Allseas said: “While the DP3 and DP4 topsides are relatively light in contrast to Pioneering Spirit’s single-lift capacity, this project gave us another chance to showcase the vessel’s capability. The motion-compensated lift technology proved hugely effective in the shallow waters of Morecambe Bay, renowned for strong currents and challenging tidal conditions. For both topsides, it was a couple of hours from arrival in the field to safe execution of the lifts."<span class="fr-img-caption fr-fic fr-dib"><span class="fr-img-wrap"><img src="https://imagesedit.marinelink.com/images/storage/w600h400/credit-allseas-123531.jpg" /><span class="fr-inner" spellcheck="false">Credit: Allseas</span></span></span></p>
<p>“It’s the first time we’ve delivered assets to a yard in mainland Scotland for recycling. The first-class communication and synergy from all parties facilitated a safe and seamless load-in to the CessCon yard.”</p>
<p>Lee Hanlon, CEO of CessCon Group said: “Bringing the Pioneering Spirit to mainland Scotland for the first time was a significant achievement, the meticulous planning, and engineering by all parties ensured that the offload and set-down was executed safely, and on schedule. We will now commence dismantlement and recycling operations with a reuse and recycling target of 98% (by weight) of all materials, in line with our circular economy strategy, and we look forward to delivering a safe, efficient, and environmentally responsible project together with Spirit Energy and Allseas.”</p>
<p>Donald Martin, Decommissioning Projects Manager at Spirit Energy, said: “With some of the infrastructure in Morecambe Bay having been built by Scottish fabrication yards, it feels fitting that the first platforms to be removed from the East Irish Sea will now be decommissioned and dismantled by a new yard in Fife.</p>
<p>“It has been a collaborative effort from Spirit, Allseas, CessCon, and all of our supply chain partners to get to this point, and we look forward to seeing CessCon’s team at work as they recycle or reuse the vast majority of material from these two platforms.”</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-85747997843070229552021-06-29T14:05:00.003+01:002021-06-29T14:05:58.946+01:00Australia: Santos Starts Dorado Offshore Field FEED<div><img src="https://images.oedigital.com/images/maritime/w800/dorado-concept-credit-carnarvon-petroleum-123965.jpg" class="ff-og-image-inserted" /></div>
<p>Australian oil and gas company Santos on Tuesday announced the start of Front-End Engineering and Design (FEED) for the Dorado field development in the Bedout Sub-basin, offshore Western Australia. Contracts are expected to be awarded in the next few months, Santos said.</p>
<p>Dorado is an oil and gas project which is planned to be developed in two phases. Phase 1 development involves the production of oil and condensate through a well head platform (WHP) and floating production, storage, and offloading facility (FPSO). Phase 1 has an estimated gross capital cost of approximately US$2 billion, assuming a purchased FPSO, Santos said.</p>
<p>"The selected concept of an FPSO and WHP allows for the optimal integrated development of both the gas and liquids resource and retains sufficient flexibility to support future exploration success. Gas will be reinjected in the initial phase to enhance oil and condensate recovery," Santos said.</p>
<p>Phase 2 of the project located in Commonwealth waters, around 160 kilometers north of Port Hedland, will then develop the significant natural gas resources in the Bedout Sub-basin and provide future backfill supply to Santos’ current WA domestic gas infrastructure assets.</p>
<p>Santos Managing Director and Chief Executive Officer Kevin Gallagher said Dorado is expected to have an initial gross oil production rate of between 75,000 to 100,000 barrels per day of "high-quality crude that is expected to earn a premium to regional pricing benchmarks."</p>
<p>"Entering FEED for the Dorado project is a significant milestone and has the project on schedule for a final investment decision around mid-2022, building on the investment decision on the Barossa gas project earlier this year,” Gallagher said.</p>
<p>"Dorado is on track to be the first development in the Bedout Sub-basin, with its high-quality reservoirs and shallow-water setting, making it a very cost-competitive project globally.</p>
<p>“Dorado is also a very low CO2 reservoir with approximately 1.5 percent CO2, and with all gas reinjected in the initial phase, making it one of the lowest emission intensity oil projects in the region.</p>
<p>“After the initial phase of liquids production, gas export from the development allows for a future source of supply into our domestic gas infrastructure in Western Australia.</p>
<p>“Potential nearby tie-in opportunities, starting with the Pavo and Apus prospects to be drilled early next year, could be easily tied-back into the Dorado infrastructure and materially increase the value of the project, due to the very low cost of development,” Gallagher said.</p>
<p>FEED contracts for the FPSO and WHP design are being finalized and are expected to be awarded over the next few months, Santos said.</p>
<p>"This follows the competitive pre-FEED phase of the project where top-tier contractors have been engaged for these major work packages," the company said.</p>
<p>Santos has an 80 percent interest in the Dorado project and is the operator. The remaining interest is held by Carnarvon Petroleum.</p>
<p>To remind, Carnarvon in August last year said that the pre-FEED competition for the supply of an FPSO for the Dorado project was well advanced with BW Offshore, Modec, and Altera (formerly Teekay).</p>
<p>Santos is currently seeking interest from the market to sell down a non-stake in Dorado and potentially other WA oil assets.</p>
<p><span>Carnarvon, which owns a 20 percent stake, said it has engaged advisers to fund its share of the development and will formally engage with financiers once FEED contracts for the FPSO and WHP have been finalized. </span></p>
<p><span>"There continues to be strong market interest in the project. </span>Preparation of the Offshore Project Proposal and Field Development Plan is also well advanced," Carnarvon said.</p>
<p>Carnarvon Managing Director and CEO, Mr Adrian Cook, said: “The Dorado project is a world class resource and we are very pleased to commence FEED. This is an important step which has us on track to achieving a Final Investment Decision around mid-2022.”</p>
<p>“This will be the first development in Bedout Sub-basin, containing high-quality reservoirs and fluids in shallow water which we expect to result in strong returns for our shareholders. We are also on track to test two large exploration targets near Dorado that have the potential to materially<br />
add value to the Dorado project.” </p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-28766261895899247362021-06-29T14:05:00.001+01:002021-06-29T14:05:58.558+01:00Fred. Olsen Ocean, Shimizu in Offshore Wind Pact<div><img src="https://images.oedigital.com/images/maritime/w800/image-hareide-marinetraffic-123964.jpg" class="ff-og-image-inserted" /></div>
<p>Fred. Olsen Ocean (FOO), including its subsidiaries Fred. Olsen Windcarrier (FOWIC) and Global Wind Service (GWS), on Tuesday announced a partnership with Shimizu Corporation (Shimizu) to support growth and development in the offshore wind industry in Japan and worldwide. </p>
<p>"The partnership between these organizations marks an important milestone as it brings together FOO's specialist knowledge, experience and capabilities as a global leader in offshore wind turbine installations, and Shimizu's leading strengths in construction activities and in-depth knowledge of the Japanese market," FOO said.</p>
<p>"Together, the combined expertise, experience, assets, and related supply chains of these two organizations will be valuable for the development of offshore wind," FOO added.</p>
<p>Fred. Olsen Ocean highlighted Japan's ambitious targets to develop 10 GW of offshore wind power by 2030.</p>
<p>"As a clear indication of their commitment to help reach these goals, Shimizu will take delivery of its own jack-up installation vessel in late 2022," FOO said.</p>
<p>Under this partnership and exclusivity agreement, Fred. Olsen Windcarrier will be the leading partner for installation projects involving Shimizu's vessel outside Japan, while Shimizu will be the leading partner for installation projects within Japan. </p>
<p>"With a deep understanding of operating jack-up installation vessels, FOWIC will support Shimizu with the planning and execution of upcoming offshore wind project installations in Japan and support with training of key personnel for safe and efficient operation. FOWIC and GWS will be the preferred suppliers for Shimizu with FOWIC supplementing Shimizu vessel capacity in Japan when needed. For markets outside Japan, FOWIC will represent and market the Shimizu vessel," FOO said.</p>
<p>Alexandra Koefoed, Chief Executive Officer of Fred. Olsen Windcarrier, said: "We are very pleased to be working with such a renowned organization as Shimizu, and excited to be playing such an important role in Japan's renewable energy sector. There is great potential not only in the partnership of our two businesses, but also in what we can offer to the offshore wind industry." </p>
<p>Toru Yamaji, Vice President of Shimizu, said: "We could not have chosen a better partner to further our capabilities in the Japanese offshore wind market, and abroad. Together, Fred. Olsen Ocean and Shimizu will offer a breadth of specialist knowledge, assets and services for wind farm developers worldwide."</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-28457342031895699302021-06-28T20:04:00.019+01:002021-06-28T20:04:29.095+01:00GE Names Jan Kjaersgaard as Chief of Offshore Wind Business<span class="date">June 28, 2021</span>
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<p>Jan Kjaersgaard (Photo: GE Renewable Energy)</p>
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<p>General Electric Co named Jan Kjaersgaard as the new chief executive of its offshore wind business, effective Monday.</p>
<p>He will succeed John Lavelle, who is retiring after 40 years with the company.</p>
<p>Kjaersgaard has previously served as the chief executive of Siemens Wind Power Americas, and was heading the cement business at FLSmidth & Co A/S before joining GE.</p>
<p>Lavelle plans to stay on board to assist with the transition of responsibilities over the next several months.</p>
<p>Under Lavelle, GE installed the first ever offshore wind farm in the United States and expanded the presence of the business in Europe, China and Japan, the company said in a statement.</p>
<p><em>(Reporting by Shreyasee Raj; Editing by Devika Syamnath)</em></p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-129795504083606162021-06-28T20:04:00.017+01:002021-06-28T20:04:28.753+01:00Repsol Sinopec Extends Bleo Holm FPSO Charter Until 2024 End<span class="date">June 28, 2021</span>
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<p>Bleo Holm FPSO - Credit: Bluewater</p>
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<p>FPSO specialist Bluewater has secured a contract extension for its Bleo Holm FPSO with Repsol Sinopec Resources UK Limited and its JV Partner RockRose Energy.</p>
<p>The FPSO, deployed in the UK, will see the contract extended until December 31, 2024. Repsol Sinopec will have further options to extend the charter.</p>
<p>The Bleo Holm FPSO is located in UKCS Block 13/28a on the Blake and Ross Fields, 72 miles northeast of Aberdeen, since 1999.</p>
<p>José Luis Muñoz, Repsol Sinopec CEO said: "I am very pleased that this contract has been extended. In alignment with the Oil & Gas Authority’s MER UK Strategy this is a clear demonstration of our commitment to the North Sea and is a timely development to encourage further investment, increase production and facilitate life extension for the area, all while remaining focussed on emissions reduction opportunities.”</p>
<p>Hugo Heerema, CEO of Bluewater said: "We are pleased to have secured this contract extension, which facilitates field life extension. This contract extension is a win-win for ourselves and our client."</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-87621061707908985212021-06-28T20:04:00.015+01:002021-06-28T20:04:28.212+01:00Fugro Builds Geo-Data Platform for Atlantic Shores Offshore Wind<div><img src="https://images.oedigital.com/images/maritime/w800/illustration-credit-fokkeadobestock-123952.jpg" class="ff-og-image-inserted" /></div>
<p>Dutch offshore survey company Fugro has completed the first phase of a 2-year contract with Atlantic Shores Offshore Wind (Atlantic Shores) to build and manage a centralized, cloud-hosted Geo-data repository for Atlantic Shores' lease development off the coast of New Jersey in the US.</p>
<p>According to Fugro, the web-based engagement platform was recently delivered and uses Fugro’s Gaia technology to provide Atlantic Shores and its stakeholders with a single source of updated Geo-data and documentation. </p>
<p>"Fugro will maintain the Gaia solution until 2022 to help Atlantic Shores achieve streamlined decision‑making and an accelerated project schedule," Fugro said.</p>
<p>To develop the Geo-data repository, Fugro is integrating public datasets and historical project data with real‑time field data, including information from Fugro’s ongoing metocean, geophysical, geotechnical, and environmental programs, Fugro explained.</p>
<p>"The approach is facilitating real‑time tracking of the site characterization effort, along with an updated ‘digital twin’ ground model of the lease area. This information is accessible to project stakeholders 24/7 without the need for specialized software or GIS experience; it also includes a data deliverable portal for downloading post-processed datasets," Fugro said.</p>
<p><strong>Deanne Hargrave,</strong> Geoscience Manager for Atlantic Shores, said: “Atlantic Shores is thrilled to leverage Fugro’s Gaia solution for visualizing and sharing our wealth of geophysical, geotechnical, and environmental data internally with our project team and externally with our stakeholders. Engineering decisions are facilitated, enhanced, and expedited from the instant information access that Gaia provides to our team. This comprehensive data solution is advancing the way we work collaboratively and encouraging complete utilization of the valuable datasets.”</p>
<p><strong>Edward Saade</strong>, President of Fugro in the US, said: “We are pleased to expand our work with Atlantic Shores through this contract and look forward to demonstrating the value of truly integrated Geo-data products and services using Fugro’s Gaia technology for the offshore wind market. As a US industry leader, Atlantic Shores has the potential to make a significant impact to our country’s energy transition, work that aligns perfectly with our own purpose to help build a safe and liveable world.”</p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-10375448936678754702021-06-28T20:04:00.013+01:002021-06-28T20:04:27.488+01:00Can the Caspian Still Compete for Upstream Capital?<p><span class="" itemprop="author">Ashley Sherman, Principal Analyst on Wood Mackenzie’s Russia and Caspian Upstream Team</span></p>
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<p>The Caspian region – home to 6 million barrels of oil equivalent per day of liquids and gas production – has been near the forefront of the global energy sector since the 19th century. It is core to most of the majors and has a resource base that should be primed for longevity.</p>
<p>But the landlocked region risks facing an upstream investment crisis in the 2020s. This could shape the strength of hydrocarbon-dependent economies like Azerbaijan and Kazakhstan for decades to come.</p>
<p>So, what’s created an investment cliff-edge, and can it be avoided with new reforms?</p>
<p>In our base-case view, marketed oil and gas production in the Caspian region will grow in the 2020s. This is largely because of phases that are commissioned or under execution at the dominant megaprojects. However, 2030 upstream development capital expenditure looks set to be less than half its 2019 level of almost US$20 billion (in 2021 terms).<img src="https://imagesedit.marinelink.com/images/storage/w633h429/image004-bf00.jpg" class="fr-fic fr-dib" /></p>
<p>These figures exclude upside from new exploration success. Prospective volumes remain high thanks to the quality of the subsurface. But the largest such opportunities face their own obstacles to commercialization. This includes BP and SOCAR’s new, potentially giant, Shafag Asiman deepwater gas find in Azerbaijan.</p>
<p>The region’s upstream investment mix mirrors its top-heavy production profile. The majority of spend is at the five majors led megaprojects in Kazakhstan (Kashagan, Karachaganak and Tengizchevroil) and Azerbaijan (ACG and Shah Deniz).</p>
<p>We see three key factors contributing to the looming cliff edge: </p>
<p><strong>The megaphase era is ending</strong></p>
<p>Unlike between 2000 and 2020, there is no “elephant-sized” brownfield development FID imminent. Kazakhstan’s US$45 billion Tengizchevroil expansion (FGP-WPMP) is winding down annual investment from its peak in 2018-19.</p>
<p>The Chevron-led megaphase is the most recent to sustain regional capital expenditure. It could be the last, as the majors target quite different future portfolios and even more robust project returns.</p>
<p><strong>FID-ready greenfield options are lacking<br /></strong><br />
Caspian upstream investment suffers from a chronic lack of diversity. Brand-new major capital projects that are ripe for evaluation are few and far between.</p>
<p>The region does not lack for discovered undeveloped resources. But, when it comes to new larger-scale greenfield projects, especially gas, the commercial case is often far from compelling.</p>
<p>Upstream growth projects require the majors, but may struggle to attract them</p>
<p>The region’s upstream sector needs highly experienced IOCs because of the complexity of its largest prizes. But those companies are managing their future upstream investment more tightly than ever before. For the majors in the region:</p>
<p>• Base megaproject operations largely remain close to the core of the core.</p>
<p>• Large-scale discretionary investment options struggle to meet key commercial hurdles. Without significant optimization, breakeven prices are typically too high and payback periods too long.</p>
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<strong>So what needs to change?<br /></strong><br />
<strong>Lower costs – doing projects differently<br /></strong></p>
<p>Too many major capital projects of the past have suffered cost blowouts and delays. New investment must be nimbler, weaken the region’s cost premium and enable early monetization from shorter capital cycles.</p>
<p>Pre-tax economics are a fundamental challenge. Most of the largest pre-FID projects – brownfield and greenfield – do not generate a before-tax IRR above 20%. For greenfield developments, basic synergies must finally come to the fore.</p>
<p><strong>Higher investor share – governments focusing on economic multipliers<br /></strong><br />
There is no easy solution. In Kazakhstan, our bespoke analysis of a large model offshore oil field shows that no single tax or regulatory lever can bring a project to commercial competitiveness and a 15%+ post-tax IRR. This would take a complex combination of fiscal incentives and operator-led project optimizations.</p>
<p>This is not to say that governments should attract investment for its own sake. Instead, it recognizes the economic multiplier effects that large-scale projects bring. Especially if local content is high.</p>
<p><strong>Lower carbon – linking decarbonization and upstream priorities<br /></strong><br />
Regional governments increasingly share the net-zero ambitions of their largest international investors. New large-scale projects must fit the bill.</p>
<p>For the majors, regional decarbonization is a portfolio play too. Several have already taken wind and solar positions, benefitting from their lengthy regional experience.</p>
<p>A pressing challenge is to bring together the two sides of the investment picture – upstream and carbon-neutral. In our view, host governments should proactively create fiscal incentives to support both streams of investment.</p>
<p><strong>Gas monetization – unblocking options to unlock value<br /></strong><br />
The region’s vast gas resources should be a blessing amid the energy transition, from deepwater Azerbaijan to Central Asia’s prolific basins. But, even as exports rise and exploration shifts towards gas, upstream economics largely remain liquids-driven.</p>
<p>There are clear competitive challenges for uncontracted Caspian gas in core export destinations – the EU for Azerbaijan and China for Central Asia. Furthermore, governments are too accustomed to cheap gas at home.</p>
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Domestic reforms are needed. This would boost the rationale for optimizing upstream development concepts, substituting major capital projects with incremental tie-backs to existing infrastructure.</p>
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<strong>Regional cooperation – reducing the reliance on Majors<br /></strong><br />
Given the technical and financial obstacles at the Caspian’s largest projects, regional NOCs are not yet equipped to take greater operating responsibility. But recent progress between Azerbaijan and Turkmenistan for the long-disputed offshore Dostlug field shows how cross-border partnerships could spread the capital load and foster collaboration.</p>
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<strong>Kazakhstan’s Kashagan oil giant will be a regional bellwether<br /></strong><br />
Thoughts about the Caspian’s upstream competitiveness often lead to Kashagan, and for good reason. Its long-term development plan must resolve multiple commercial and technical conundrums.</p>
<p>There are immediate milestones to ponder, not least the need for Kashagan’s updated full-field development concept to receive official approval later in 2021. This will enable studies to continue on a mix of pre-FID phases to boost oil production capacity.</p>
<p>Work over the next few years will truly test the majors’ appetites for another long-lead investment project in the Caspian region. If Kashagan expansion is to be realized, it will be thanks to successfully addressing the challenges.</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-91164751697950138822021-06-28T20:04:00.011+01:002021-06-28T20:04:26.984+01:00Eco Atlantic Joins ExxonMobil's Canje Block Off Guyana<p>Oil and gas company Eco Atlantic has agreed to acquire a stake in JHI Associates, which owns a share in the Canje block, offshore Guyana, where ExxonMobil is drilling for oil.</p>
<p>Eco will acquire up to a 10% interest in JHI and appoint Keith Hill, a non-executive Director of Eco, to the JHI Board. </p>
<p>"The transaction provides Eco with immediate exposure to a current active drilling program in the Canje Block offshore Guyana," Eco said.</p>
<p> The Canje Block is operated by ExxonMobil and is held by working Interests partners Esso Exploration & Production Guyana Limited (35%), with Total E&P Guyana B.V. (35%), JHI Associates (BVI) Inc. (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%).</p>
<p>Founded in 2011, JHI has been described as a Guyana pure-play deepwater exploration company.</p>
<p>In 2014, JHI teamed up with Guyana-based Mid-Atlantic Oil & Gas Inc. ("MOGI") which was awarded the Canje Block in 2015. </p>
<p>In 2016, ExxonMobil joined the Canje Block as Operator, and in 2018 TotalEnergies farmed into the Block. Five years of extensive technical and seismic data analysis led to the Canje partners identifying multiple drillable prospects and successfully applying for a multi-well drilling permit.</p>
<p>The 2021 multi-well exploration program on the Canje Block seeks to test the extension of the prolific hydrocarbon system which has resulted in over 9 billion barrels of oil equivalent of recoverable resources being discovered by ExxonMobil and its partners Hess and CNOOC in the adjacent Stabroek Block since 2015.</p>
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<p>"This transaction will increase Eco Atlantic's presence in the Guyana-Suriname basin to include a three-well drilling programme, with the first two firm wells on the Canje Block drilling in 2021 and at least one on the Orinduik Block, subject to partner approval," Eco saud,</p>
<p>The Jabillo-1 well is currently being drilled on the Canje Block utilizing the Stena Carron drillship with results expected in July.</p>
<p>The Sapote-1 well is scheduled to be drilled later this year in Q3 by the Stena DrillMax in the eastern portion of the Canje Block, which Eco will also have exposure to through its now shareholding in JHI.</p>
<p>"Eco has subscribed for 5,000,000 new common shares in JHI at a price of US$2.0 per share, representing 6.4% of JHI's enlarged share capital "), and has been issued a warrant to subscribe for a further 9,155,471 new common shares in JHI at an exercise price of US$2.0 per share for a period of eighteen months (the "JHI Warrant"). If the JHI Warrant is exercised in full, Eco will hold an interest, ceteris paribus, of 10% in JHI on a fully diluted basis," Eco said.</p>
<p>As at December 31, 2020, JHI had net assets of approximately US$46.3 million and recorded a net loss of approximately US$8.28 million.</p>
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<p>"The two-well drilling program currently underway on the Canje Block offers Eco near-term, low-risk exploration drilling catalysts with significant upside. JHI is carried on the costs for the drilling of the first well, Jabillo-1 and would also be carried for an offsetting appraisal well in the case of a discovery on Jabillo-1. The Canje Block partners have also committed to drill the Sapote-1 well later this year in Q3 2021," Eco said.</p>
<p>Gil Holzman, Co-Founder and Chief Executive Officer of Eco Atlantic, commented:"After a period of thorough technical analysis of the Canje block, by both our team at Eco and our strategic partners at Africa Oil Corp we are delighted to advise the market on this exciting transaction, and to be back drilling with results expected imminently." </p>
<p>"The carried Jabillo-1 well is underway and is expected to reach target in the coming few weeks, providing our shareholders with high impact near term catalysts.</p>
<p>"While we eagerly anticipate resuming drilling activity on our Orinduik block next year, pending partner approvals, and we have made sure to preserve sufficient funding for that, we are very excited that we now have two imminent Guyana wells in our portfolio as well as additional multiple prospects inventory on the Canje Block. Since 2014, Eco has strongly focused on the hydrocarbon potential offshore Guyana, and this strategic deal with JHI marks the beginning of a wider presence and potential increased future collaboration in the basin."</p>
<p> <span class="fr-img-caption fr-fic fr-dib"><span class="fr-img-wrap"><img src="https://imagesedit.marinelink.com/images/storage/w500h505/jhideckmap20200911-webcanjeblockwebppt-43ab.png" /><span class="fr-inner" spellcheck="false"> Credit: JHI</span></span></span></p>
<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0tag:blogger.com,1999:blog-3977104120810386053.post-86955855912856639722021-06-28T20:04:00.009+01:002021-06-28T20:04:26.236+01:00Qatar Petroleum Hires Banks for Jumbo Bond Sale<p class="meta"><span class="" itemprop="author">Yousef Saba</span></p>
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<p>Offshore installations in Qatar - File Photo: Qatargas</p>
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<p>Qatar Petroleum has hired a group of banks to arrange a four-tranche issuance of U.S. dollar-denominated bonds, a document showed, for what will be its debut public bond sale months after it signed a contract to boost its liquefied natural gas output.</p>
<p>The bond sale will comprise conventional tranches of five, 10 and 20 years, as well a 30-year Formosa portion, the document from one of the banks on the deal and reviewed by Reuters showed.</p>
<p>Formosa bonds are sold in Taiwan by foreign borrowers and denominated in currencies other than the Taiwanese dollar.</p>
<p>The document did not give any indication on the size of the deal but sources have previously told Reuters the planned debt sale could raise up to $10 billion.</p>
<p>Qatar Petroleum (QP), one of the world's top liquefied natural gas (LNG) suppliers, hired Citi and JPMorgan to coordinate the issue.</p>
<p>They, along with BofA Securities, Deutsche Bank, Goldman Sachs, HSBC, MUFG, QNB Capital and Credit Suisse, will arrange investor calls starting on Monday.</p>
<p>QP's fundraising comes as energy companies in the region seek different means to raise cash after they were hurt last year by the double shock of the COVID-19 pandemic and oil prices collapsing.</p>
<p>QP signed a contract in February for the first phase of its North Field LNG expansion project, which aims to boost Qatar's LNG output by 40% a year by 2026. </p>
<p>(Reporting by Yousef Saba Editing by Kim Coghill and Mark Potter)</p>
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<div class="blogger-post-footer">This is the blog for <a href="https://crudeoilfacilitators.com/">Crude Oil Facilitators</a> Website publishing latest <a href="https://blog.crudeoilfacilitators.com/">crude oil news</a> and articles.</div>Crude Oil Facilitatorshttp://www.blogger.com/profile/03035202187352823648noreply@blogger.com0