Energy Contribution News

OPTION (Optimizing Oil Production by Novel Technology Integration) aims to significantly improve simulation tools for the prediction and control of the flow between the horizontal wells and the reservoir – with a focus on enhancing oil recovery. As part of their investment in the project, DONG Energy will contribute with the complete subsurface dataset from the Siri and Stine fields, located in the Danish sector of the North Sea. Dr Michael Kragh Engkilde, Subsurface Manager of Siri Asset at DONG Energy says: “With our ambition to extend the life of the Siri Area, we are continually investigating opportunities for enhancing production. The joint industry project breeds a close link between industry and academia and as such helps to progress research exploitation and knowledge transfer.

Royal Boskalis Westminster N.V. (Boskalis) reports an increased revenue of EUR 3.5 billion in 2013 (2012: EUR 3.1 billion). Net profit rose sharply to EUR 366 million (2012: EUR 249 million), partly due to a number of extraordinary items amounting to EUR 97 million post tax. Boskalis intends to distribute a dividend of EUR 1.24 per share and intends to start a three-year share buyback program. EBITDA also reached a record high level of EUR 800 million (2012: EUR 567 million) and EBIT was EUR 466 million (2012: EUR 336 million).

Two members of the Gulf Economic Survival Team testified at a U.S. House Natural Resources Subcommittee on Energy & Mineral Resources Oversight hearing. Two members of the Gulf Economic Survival Team – Chett Chiasson, Executive Director of the Greater Lafourche Port Commission and Cory Kief, Director of Business Development for Crosby Tugs – testified on behalf of the offshore industry.The hearing examined the economic importance and energy contribution of the industry, as well as the need to support industry growth through appropriate policies, including robust lease sales. Port Fourchon director Chiasson testified about the importance…