oil

People

ITB appoints new assessor to its team

04/11/2014

Aberdeen-based training and consultancy firm ITB Competence Assurance has appointed a new assessor. Michael Morrison will join the competency specialists with more than 20 years’ experience in the offshore oil and gas industry. The Aberdeen-based organisation is one of a select band of OPITO approved competency and training specialists working with oil and gas clients worldwide.

Oil & Gas

Santos completes first major gas processing hub

04/11/2014

Australian energy firm Santos has completed the first of three major gas processing hubs in its Queensland gas fields. The hub is now fully operational, as commissioning of Santos GLNG’s two other major processing hubs continues. It follows the delivery of first gas into the Santos GLNG (Gladstone Liquefied Natural Gas) pipeline last month.

Americas

Technip wins petrochemical contract

04/11/2014

Technip has entered a contract deal to supply its proprietary ethylene technology and process design package (PDP) for a grassroots cracker in a US-based petrochemical complex. The technology will be used for the proposed ASCENT (Appalachian Shale Cracker Enterprise) complex, which is currently being evaluated by Odebrecht and Braskem in Parkersburg, West Virginia.

Oil & Gas

New regulator will cost millions for offshore industry

04/11/2014

The offshore industry is due to be hit with a £200million bill over the next two decades to help pay for Aberdeen’s new North Sea regulator. The UK Government confirmed yesterday that it plans to give itself new powers next summer to levy oil and gas firms in order to fund the body. Ministers also revealed that the number of officials dedicated to overseeing the North Sea sector would rise from 59 at present to about 145 as the Oil and Gas Authority gets up and running in Aberdeen. The creation of the new regulator was recommended after a major review was held into the future of the offshore industry, led by the businessman Sir Ian Wood.

Oil & Gas

Snorre – milestone revamp makes headway

04/11/2014

Just over a year ago, Statoil decided that it wanted to press ahead with redeveloping the Snorre field in the North Sea t o enable production to continue through to 2040 and perhaps beyond. An evaluation of the “Snorre 2040” project had been carried out with examination of two development concepts: a subsea development with continued use of the Snorre A and B platforms or a project that involved a new platform tied in to Snorre A and B.

Opinion

Opinion: Iraq . . . a nightmare with no clear end in sight

04/11/2014

Iraq is now more violent than at any time since the bloody 2006-2007 insurgency period. The country experienced an average of almost 80 violent incidents a day between July and September. Hundreds, possibly even thousands of people are being killed every month and there are no signs that the conflict will rescind in the near future. As violence continues to rage, the energy sector remains concerned with developments affecting Kurdish Regional Government (KRG) territory, as well as oilfields in the south. International military assistance has bolstered the position of the Kurds and for now, this will act as a major safeguard for the region's interests.

Oil & Gas

Pipeline company isolates hydrocarbon pressure in GOM

04/11/2014

A pipeline services specialist successfully isolated hydrocarbon pressure for 79 days while a gas valve upgrade project was carried out in the Gulf of Mexico. TD Williamson (TDW) was originally asked by a major oil company to isolate a 16-inch gas riser, which was connected to a major subsea gas pipeline network in order to replace a valve in 2012. However the network operator then asked for three additional valves to be installed, and a launcher extension was added to help facilitate inline inspection tool runs.

People

Iona Energy adds four new appointments to its team

03/11/2014

Independent oil and gas company Iona Energy has made changes to its senior management team. The company, which has a number of assets in the North Sea, announced four new appointments. Robert Gair will join the team from Trinity Exploration and Production as chief financial officer and Kevin Holley has become its corporate controller.

Market info

Foster Wheeler profits drop in Q3

03/11/2014

Foster Wheeler's profits have slumped with the company’s income down by half in its third quarter results. The company announced its income from operations was $25.4million, compared with $48.9million the same time last year. Shares are currently sitting at an individual price of $0.25, compared to a cost of $0.50 during the third quarter of 2013.

Oil & Gas

Norway’s Barents Sea exploration breakthrough bonanza

03/11/2014

Seven wells are currently active on the NCS . . . six exploration; one appraisal. Four are North Sea, two Norwegian Sea and one in the Barents. There are nine active development/production wells utilising mobile units in the sector, all North Sea. There are 38 units on the NCS . . . six on E&A duties and nine on D&P drilling. In addition, eight fixed platform D&P wells were operating as October closed. Of the remaining 23 MODUs, three are stacked in port, including the XL Enhanced 2, which is a new-build; the remaining 20 are either mobilising between drilling locations or working on in-field operations.

Europe

Fighting for a North Sea future that should be great

“If you look at the assets that we’ve held the longest, like Thistle, the Dons where we have the (FPSO) Northern Producer, and Heather, we’re having a very good year,” says Enquest’s North Sea president, Neil McCulloch. “We’re doing well on the regulatory side of things too; had inspections around our facilities this year . . . some of the oldest in the North Sea. “While you never get an entirely clean bill of health, we’ve done very well with no prohibition notices, no improvement notices; just some support for the way we go about our business. It’s about doing simple things very well, repeatedly. And that’s a core value at Enquest.

Africa

Ophir Energy continues takeover talks with Salamander

03/11/2014

Takeover talks for Salamander Energy are still ongoing, after the board of Ophir Energy confirmed it has sent a letter outlining its vision for a potential deal. Ophir Energy said it there is a “compelling strategic logic” for the two businesses to work together. In a statement the company said a deal would create enhanced operating capability in both Africa and South East Africa.

Opinion

Opinion: Will falling oil prices compound activity decline in the UKCS?

03/11/2014

At the time of writing this article, the Brent crude oil price benchmark had fallen to $85 from $115 in June on concerns of abundant global oil supply and weakening demand. Goldman Sachs, the international investment bank, earlier in the week released a price prediction of $80 for 2015 having reduced this from $100 previously. Markets are spooked and bearish sentiment is plaguing the energy sector. Concerns are that the cost and operational challenges we have witnessed in 2014 in the UKCS, compounded with commodity price reductions, could spell a difficult time for investment and activity in our home market.

Africa

Falcon wins shale licence in Karoo Basin

03/11/2014

Irish explorer Falcon Oil and Gas has been awarded a shale gas exploration licence in South Africa’s Karoo Basin. The company announced its application had been approved by the Petroleum Agency of South Africa (PASA). In December 2012, the company announced it would be working exclusively with Chevron Business Development South Africa for a period of five years on jointly obtaining exploration licences.

Oil & Gas

Technip nets US ethane contract

03/11/2014

Technip has been awarded an engineering and procurement contract by Sasol for eight furnaces at its ethane cracker and derivatives complex in Louisiana. The award is for proprietary Ultra Selective Conversion (USC) furnaces which will be used at Lake Charles in the Southern state. The company’s operating centre in Houston will execute the project.

Oil & Gas

Can scoops £4m North Sea contract

Fairfield Energy has awarded a £4million contract to Can Group to provide asset integrity services on its North Sea Dunlin platform. The Aberdeen-based Can has also announced international expansion. The three-year contract with Fairfield Energy will be led by Engteq, the group’s integrity engineering division, that will provide services such as inspection management and data analysis, with Can’s operations division providing inspection execution and ancillary services on the pressure systems and structures. The Aberdeen-based Can has also announced international expansion. The three-year contract with Fairfield Energy will be led by Engteq, the group’s integrity engineering division, that will provide services such as inspection management and data analysis, with Can’s operations division providing inspection execution and ancillary services on the pressure systems and structures.

Renewables/Energy Transition

Future collaboration for offshore wind

01/11/2014

Businesses interested in offshore wind will have the chance to get involved in a technology innovation programme. A seminar in Inverness will look at how companies in the Highlands and Islands can collaborate and tackle the high costs affecting the industry. The organisers of the event are Energy North, the Carbon Trust and Scottish Development International.

Market info

First rise in Q3 profits at Chevron for three years

31/10/2014

Chevron's profits have risen for the third quarter income for the first time in three years. The oil major credited refining costs as one of the key factors in boosting their revenue. However the company did see a slight drop in its sales and operating revenues for the third quarter, pulling in $52billion, compared with $57billion last year.

Health & Safety

Deal struck for framework in China

31/10/2014

A deal has been struck been struck at the China International Diving, Salvage and Offshore Summit for a new Cooperation Framework Agreement. It was signed by the International Marine Contractors Association (ICMA), the Association of Diving Contractors International (ACDI), and the China Diving and Salvage Contractors Association (CDSA).

Oil & Gas

Songa Offshore signs loan agreement

31/10/2014

Songa Offshore has signed loan agreements for its last two Cat D drilling rigs, the company announced. The $1.1billion deal is for the Songa Encourage and Songa Enabler and consists of a revolving pre-delivery financing of $90million per rig and a post-delivery financing of $550million per rig.

Australasia

Cambay Field discoveries higher than expected

31/10/2014

Australian explorer Oilex has announced significant progress at its Cambay Field in India. The company said the hydrocarbon liquid to gas ratio (LGR) found during flowback at the Cambay Field was an estimated 250% higher than expected. During flowback it has been 100 bbls (oil barrels) of liquids per MMscfd (Million Standard Cubi Feet Per Day) of gas.

Special Features

Calling all ‘Young Energy’ students

31/10/2014

Oil and gas students have one final chance to enter into an industry wide competition and meet Scottish Energy Minister Fergus Ewing and more than 150 senior representative from across the industry. In the run up to skills week Opito has been engaging with people across the industry by giving them the chance to submit a photo with the caption #Iamoilandgas when posting a photo on Facebook or Twitter.