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Dnv Gl Oil News

16 Dec 2020

DNV GL Scores Work at BHP's Trion FPU

Frank Ketelaars, Regional Manager, Americas, DNV GL - Oil & Gas

Australian oil and gas company BHP, working to develop the Trion field offshore Mexico, has hired DNV GL to verify that the new infrastructure built for the Trion project is compliant with local and global safety, as well as other requirements. BHP acquired the Trion asset in Mexico’s first-ever Deepwater Bid Round in 2016. The Trion field encompasses an area of 1,285 square kilometers and is located in the deep waters of the Perdido belt. BHP is the operator holding a 60% interest in the development and PEMEX is the non-operating partner with a 40% interest.Last week…

01 Sep 2020

OCIMF Publishes New Guidance on DP System Failures

Adobe Stock

A new information paper on assurance of dynamic positioning (DP) system failure mode and effects analysis (FMEAs) seeks to improve the process of identifying all possible consequences and failures of DP systems.Entitled ‘Dynamic Positioning Failure Mode and Effects Analysis Assurance Framework, Risk-based Guidance’, the new information paper has been published by the Oil Companies International Marine Forum (OCIMF), a global voluntary association, providing expertise in the safe…

27 Feb 2020

Tubes and Piping Most Prone to Failure -Report

Š Vlad Warsaw / Adobe Stock

When it comes to components failures in the maritime and oil and gas industries, tubes and piping are the top offenders, new research published by classification society DNV GL reveals.After reviewing more than 1,000 failure cases accross its network of five specialist laboratories in the U.S., Europe and Asia, DNV GL identified that, of the components examined, more than a quarter (27%) of failures occur in tubes and piping, and a fifth (20%) in rotating machinery. Fasteners…

20 Jan 2020

Oil, Gas Players Optimistic on Profits

Companies  in the oil and gas sector are optimistic about their ability to achieve their financial targets for 2020, according to a survey from standards agency DNV GL.While the sector’s growth hangs in the balance for 2020, oil and gas leaders are optimistic that they will weather the storm, drawing on hard-earned cost efficiencies from the past five years to make margin.Some 64% predict their organizations will hit profit targets this year (largely consistent with 62% in 2019), and nearly half (46%) say their companies would still achieve acceptable profits if the oil price were to average less than USD50 per barrel. This is a large proportion…

07 May 2019

DNVGL: New Mooring Line Solution for Offshore Ops

DNV GL has developed a solution that is designed to reduce the risk of offshore floating vessel mooring line failure going undetected by replacing physical sensors with a machine learning algorithm that accurately predicts line failure in real time.The Norwegean company's Smart Mooring solution addresses growing industry concern about the high frequency of mooring line failure, and a vessel’s subsequent loss of station. Over the past two decades, more than 20 incidents have been reported globally involving failure of permanent mooring systems on floating structures.In the most severe cases, vessels have drifted and risers have ruptured…

21 Jan 2019

US Oil and Gas Industry Confidence Surges

Senior oil and gas professionals in the United States are among the world’s most confident about the outlook for the sector in 2019, as companies prepare for significant increases in capital expenditure (capex) over the coming months.According to a new research published by DNV GL, 85% of sector leaders in the US are optimistic about the industry’s growth prospects in the year ahead, up sharply from 60% in 2018. This compares with three quarters (76%) reporting confidence among respondents globally.Full of confidence, and buoyed by favourable government energy policies, the majority (71%) of senior oil and gas professionals in the US agree that more large…

21 Jan 2019

AsiaPac Oil and Gas Industry Looks Up

Confidence in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL, the technical advisor to the oil and gas industry.According to a new research from DNV GL, three quarters (76%) of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own organizations’ prospects has also risen from 59% last year to 74% in 2019. These rises in confidence come alongside intentions to spend more in the year ahead. A third (34%)  of industry leaders in the region expect to increase capital expenditure in 2019, up from just 20% in 2018.

21 Jan 2019

China’s Oil and Gas Industry to Focus on Environment Impact

China’s oil and gas industry is set to reinforce efforts to reduce environmental impacts of its projects and operationsin 2019, said a research.According to a new research from DNV GL, six in ten (61%) senior oil and gas professionals in China say their organizations are actively preparing for the transition to a lower carbon energy mix compared to 51% globally. Industry leaders’ focus on decarbonization aligns with the Chinese government’s new ‘Blue Sky’ plan to tackle air pollution by reducing emissions of sulphur and nitrogen oxides and other pollutants by at least 15% from 2015 levels by 2020. The technical advisor to the oil and gas industry said that these findings appear in A test of resilience, the technical advisor’s ninth annual report on the outlook for the oil and gas industry.

15 Nov 2018

MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL

The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa (MENA) region will remain the main global supplier of oil and gas for decades to come."Among its forecasts for 10 global regions, DNV GL’s Outlook sees the MENA region accounting for most onshore conventional gas production in the lead-up to 2050, while North America will continue to dominate unconventional gas production.

24 Oct 2018

Oil and Gas Demand to Peak in 2023 and 2034: DNV GL

The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050However, new oil fields will be needed until at least the 2040s, while new gas developments will be required beyond 2050. DNV GL’s Outlook predicts that operators will favour production from a greater number of smaller reservoirs with shorter lifespans, lower break-even costs and reduced social impact compared to those currently in operation.“Most easy-to-produce, ‘elephant’ oil and gas fields have been found and are already in production. Smaller reservoirs will likely be harder to explore and develop commercially.

23 Oct 2018

Technology Centre Mongstad Sign MoU with DNV GL for CO2 Capture Technology

The world’s largest testing facility for carbon capture, Technology Centre Mongstad (TCM), has signed a collaborative agreement with DNV GL to deliver advisory and verification services for CO2 capture technology.According to a press release from the quality assurance and risk management company, the new global advisory partnership will offer advisory and verification services at TCM`s facilities on the west coast of Norway and other worldwide carbon capture projects.Carbon capture and storage (CCS) is the only available technology for mitigating climate change in certain industries such as cement production and the use of oil and gas.“We have been working with both CCS and verification of new technologies for the energy sector for a long time.

09 Sep 2018

Global Oil Demand to Peak in 2023

While DNV GL’s model predicts global oil demand to peak in 2023, demand for gas will continue to rise until 2034. New resources will be required long after these dates to continue replacing depleting reserves. DNV GL’s 2018  Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050, predicts global upstream gas capital expenditure to grow from USD960 billion (bn) in 2015, to a peak of USD1.13 trillion in 2025. Upstream gas operating expenditure is set to rise from USD448 bn in 2015 to USD582 bn in 2035, when operational spending will be at its highest.“The energy transition will be made up of many sub-transitions. Our Outlook affirms that the switch in demand from oil to gas has already begun.

09 Aug 2018

Gas to Become World's Primary Energy Source by 2035

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today.Gas will become the largest single source of energy from 2034.DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency. The fossil fuel share of the world’s primary energy mix will reduce from 81% currently to 52% in 2050.Demand for oil will peak in 2022…

01 May 2018

Oil and Gas Industry Looks to Digitalization

New research from DNV GL, the technical advisor to the oil and gas industry, reveals that 46% of senior professionals in the sector believe there has been underinvestment in inspection and maintenance of infrastructure and equipment in recent years. Just a quarter (28%) said that they expect to increase spending on safety in 2018. 61% will maintain current budgets and 5% plan to cut investment. The findings appear in The State of Safety, a special report from DNV GL’s research on the outlook for the oil and gas industry in 2018. Based on a survey of 813 senior sector players, the report also affirms expectations for digital technologies to bridge the gap between long-term cost efficiency and enhanced safety in projects and operations.

14 Mar 2018

DNV GL Opens LNG Test Center

DNV GL opens LNG test center. The facility, at the organization’s existing renewable energy technology and gas laboratory site is the first type of facility with a capacity compatible for the downstream sector. Its capacity is up to 250kg of liquefied gas and boasts a heat exchanger that allows the temperature of the LNG – and therefore its boil-off – to be precisely regulated. Johan Holstein, Head of gas testing and analysis at DNV GL – Oil & Gas, said the testing of new sensor technology to rapidly identify the composition of LNG would be a priority. “The current accredited technology, gas chromatography, can take 3-5 minutes to show the composition of LNG,” Holstein explained.

15 Nov 2017

Offshore Pipeline Standard Update by DNV GL

The most used and recognized offshore pipeline standard in the world has been updated to reflect the latest pipeline research and developments by DNV GL, the quality assurance and risk management company, and other leading industry players. The standard, previously called DNV-OS-F101 is now renamed DNVGL-ST-F101. Around 65% of all new projects globally are designed according to the standard, first issued in 1976. The new revision reflects the conclusions of joint industry projects (JIPs) by DNV GL and other leading industry players such as DNV GL’s JIP providing guidance for installation of rigid and flexible pipes, umbilicals and power cables.

10 Nov 2017

DNV GL, Chrysaor Pact for North Sea Operations

DNV GL has secured a combined engineering services agreement with Chrysaor Holdings Ltd. to deliver a unique range of services to the company in support of its North Sea Operations. Chrysaor recently completed the acquisition of a package of assets in the UK North Sea from Shell for a price of $3.0 billion. The transaction sees Chrysaor become the leading independent E&P company in the UK. It currently has more than 400 staff working in the UKCS. Hari Vamadevan, Regional Manager UK & West Africa, DNV GL - Oil & Gas says: ”We are delighted that we have been given the opportunity to work with Chrysaor and the hope is, that the agreement will form part of long term continuous relationship. Chrysaor now holds stakes in 10 fields and blocks, including the BP-operated Schiehallion.

17 Oct 2017

First phase of DNV GL Led Offshore Cable and Pipeline Project completed

The first phase of the DNV GL’s Joint Industry Project (JIP) which focuses on the development of a new design and certification standard for equipment for pipeline and cable offshore operations has been completed. "The JIP, focussing on the development of a new design and certification standard for equipment for pipeline and cable offshore operations, aims to reduce uncertainty, cost, increase efficiency and safety throughout the lifecycle of the equipment," said a press release. Pipeline and cable operations is a dynamic field of technology, with multiple players, leading to a level of complexity and lack of standardisation in the most common terms used within the oil and gas industry. The building blocks and functional groups in the pipeline and cable operation deck spread.

27 Sep 2017

DNV GL Creates Digital Solutions Organization

Elisabeth Heggelund Tørstad (Photo: DNV GL)

DNV GL announced it is creating a specialized Digital Solutions organization that will set out to capture the opportunities that lie in data sharing, advanced analytics, automation, and machine learning as well as addressing challenges related to data quality and security. Elisabeth Heggelund Tørstad will leave her post as CEO for DNV GL’s Oil & Gas business to head the new Digital Solutions business, which will consist of 1,000 digital experts. She will be based at DNV GL headquarters in Høvik, Norway as a member of the Executive Committee for the DNV GL Group.

27 Sep 2017

Hovem Named CEO of DNV GL Oil & Gas

Liv Hovem (Photo: DNV GL)

Liv Hovem will step in as CEO of DNV GL’s Oil & Gas business area from January 1, 2018. She will be based at the DNV GL – Oil & Gas headquarters in Høvik, Norway as a member of the DNV GL Group's Executive Committee reporting to Group President and CEO Remi Eriksen. Hovem succeeds Elisabeth Tørstad, who has been appointed CEO of DNV GL’s new Digital Solutions business area. Hovem has been with DNV GL since 1988, most recently as Regional Manager for Continental Europe, the Middle East and India in DNV GL’s Oil & Gas business.

05 Sep 2017

Gas to Become World's Primary Energy Source by 2035: DNV GL

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today. Gas will become the largest single source of energy from 2034. DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency. The fossil fuel share of the world’s primary energy mix will reduce from 81% currently to 52% in 2050.

04 Aug 2017

DNV GL's Tørstad Talks Energy Trends

Elisabeth Tørstad (Photo: DNV GL)

When Elisabeth Tørstad took the helm as CEO of DNV GL - Oil & Gas in late 2013, the price of a barrel of NYMEX (WTI) crude oil was more than $100. Today, that price has been halved, and the 40-month period between her ascension to the top post and our meeting with her in Houston in May 2017 has been arguably the most tumultuous in the oil industry’s history. Tørstad shares with Maritime Reporter & Engineering News her insights on the market going forward. With the energy slump entering its fourth year…

10 Jul 2017

Huge Potential for LNG in Iberian Peninsula

With the global fuel sulphur limit of 0.5% entering into force in 2020, the interest towards LNG as a marine fuel is increasing. One of the main obstacles to the accelerated uptake of LNG, however, is the uncertainty regarding future market volumes for LNG. DNV GL has addressed this issue in a recent market study on the future LNG market in the Iberian Peninsula, as part of driving the development of an EU-wide network of LNG refuelling points. DNV GL conducted the market study on behalf of the six-year CORE LNGas hive project1, which aims to provide an investment plan for LNG fuelling in Spain and Portugal. The 33 million Euro project is coordinated by Enagas, and co-funded by the European Commission.