Chevron Wraps Sale of Malampaya Field Stake
U.S. oil major Chevron has completed the exit from the Shell-operated Malampaya gas project offshore the Philippines with the sale of its 45% non-operating interest in the field to Udenna Corporation. The sale deal was signed in October 2019.The Malampaya natural gas field lies about 50 miles (80 km) northwest of the Philippine island of Palawan. Net daily production during 2019 averaged 136 million cubic feet of natural gas and 3,000 barrels of condensate.Produced from fields at water depths of about 2…
DNV GL Completes Due Diligence of World’s Largest Offshore Wind Farm
DNV GL has successfully completed a lenders’ technical due diligence on Ørsted’s Hornsea Project One, the world’s largest offshore wind farm with a total capacity of 1.2 GW.The project, which is currently under construction, consists of 174 7 MW Siemens Gamesa wind turbines and is located 100 km offshore, making it the furthest offshore wind farm in the UK. The exceptional distance is made possible by an innovative electrical transmission system using the world’s first offshore reactive power compensation mid-station, enabling power to be transmitted 100 km to shore.Working in close collaboration with Ørsted and the lenders, legal, financial and insurance advisors…
Legislators Call for US-flag LNG Carriers
New legislation proposed this week would require up to 30 percent of U.S. liquefied natural gas (LNG) exports to travel on U.S.-flagged vessels. The U.S. is expected to continue ramping up its LNG exports in the coming years and become a net exporter by 2020, yet there are currently no U.S.-flag carriers to carry the cargo. “We’re the most powerful nation in the world, but 99 percent of our trade travels on foreign-flagged ships,” said Congressman John Garamendi (D-Fairfield, Davis…
Xodus Appoints New Operations Director For London
International energy consultancy Xodus Group has appointed Alistair Porter as Operations Director for London to drive forward business across the company’s technical and commercial activities. Based in London, Mr Porter has been with Xodus since it was founded seven years ago and previously held the role of Global Process and Facilities Director where he managed a team of 130 engineers. As Operations Director for London, he will be responsible for growing the financial and operational performance of the London Business Unit.
Offshore Service Industry – New Analysis of Technology, Service Integration
Frost & Sullivan white paper analyzes the convergence of repair and service models with a focus on offshore structure inspection, compliance, rehabilitation. The oil and gas industry continues to accelerate, carrying memories and repercussions of the recent past within this progressive momentum. Organizations are compelled to face and address issues head-on to avoid catastrophic reoccurrences that could quickly become a reality without adequate and preventative mechanisms in place. This drive toward reliability and safety in turn accelerates technological R&D efforts toward cost efficiency and interoperability due to the increasing restraints evolving in the marketplace.
Freeport Harbor Improvement Project Meeting to be Held at Port
Representatives of Port Freeport will meet with a delegation of Congressional staffers and representatives from the U.S. Army Corps of Engineers to tour the Port and discuss the viability of the Freeport Harbor Improvement Project that includes the plan to deepen the federal channel up to 60 feet and widen it up to 600 feet. Thus far, Port Freeport has received wide-spread, bi-partisan support for this critical project from the Texas delegation as well as the Governor's office of Federal Affairs in Washington. At 60 feet, Port Freeport will be the deepest-draft port on the Gulf of Mexico. Project plans will also include the feasibility of widening the Port’s Jetty and Entrance Channel to accommodate larger vessels and two-way vessel traffic.
