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Saturday, November 17, 2018

Eni News

How Refiners Plan to Grapple With Fuel Oil Output After 2020

© christian42 / Adobe Stock

High-sulphur fuel oil (HSFO), essentially the leftovers of an oil refiner's output, will still flow from refineries around the world even after new rules start up in 2020 curtailing its use in the global shipping fleet, a Reuters survey showed.Sixty percent of the 33 refineries contacted by Reuters in a global survey will still produce HSFO in 2020 although the supply will tighten as 70 percent of these refiners plan to reduce their output.Starting that year, ships will have to use marine fuel…

Iran's Oil Customers in Europe Might Reduce Imports

© compuinfoto / Adobe Stock

European oil companies are not ruling out reducing Iranian oil imports after the threat of new U.S. sanctions, with some expecting banking issues to hinder trade, but there was no rush to immediately cut volumes.U.S. President Donald Trump said on Tuesday the United States was exiting an international nuclear deal with Iran and would impose new sanctions that seek to reduce oil exports from OPEC's third-largest producer.But as of Friday, companies in Europe said they were still taking Iranian oil.

Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040

Eni CEO Claudio Descalzi(Photo: Eni)

Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday.The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator, known as the National Hydrocarbons Commission (CNH), following a landmark 2013 energy opening that has led to more than 100 oil and gas contracts being awarded in a series of auctions.Eni sees initial crude oil production of 8…

MOL Snaps Up Adriatic Gas via Croatian Unit

Image: ENI

MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica. INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months. The transaction covers 4.3 million…

Goliat Oilfield Shut for Maintenance

(Photo: Eni)

Oil production at Eni's Arctic Goliat field off the coast of Norway was shut on Monday for planned maintenance, a company spokeswoman told Reuters.The outage is expected to last for about 10 days, she added.Goliat, the world's northernmost producing oilfield, has a capacity of close to 100,000 barrels of crude per day.(Reporting by Terje Solsvik, editing by Camilla Knudsen)

Offshore Energy: LR Supports Mozambique FLNG Project

An artist's impression of the Coral South FLNG unit. Photo: © Lloyd's Register

The scope of work that LR is undertaking covers design, procurement, certification, construction, integration and commissioning, as well as providing classification services under a risk based inspection regime to the FLNG when it enters into service in 2022.The Coral South field is being developed by Eni in Area Four of the Rovuma Basin, off the coast of Mozambique. The floating liquefied natural gas (FLNG) unit will be Africa’s first floating gas facility. The size, quality and position of the field’s resources are set to transform Mozambique’s economy.

Solstad Farstad Bags Contract with Fairfield Industries

Image: Solstad Farstad ASA

Solstad Farstad ASA (SOFF) has entered into a contract with Fairfield Industries Inc. for the CSV “Normand Tonjer”. The contract will commence in 3Q 2018 and has a duration of one year firm plus two yearly options.Fairfield will use the vessel to support their innovative worldwide ocean bottom seismic survey using node-based technology.Solstad Farstad has updated other contracts too. The key contracts in the subsea construction segment include Far Saga contract extension with Petrobras until 2Q’20…

Bergen Group Merges with Endúr Fabricom

(Photo: Bergen Group)

A merger agreement between Bergen Group ASA and oil service company Endúr Fabricom will create an industrial group based in western Norway with close to 400 employees and an order book exceeding NOK 1 billion. The combined company will have considerable presence in both the oil and gas markets, in maritime service and towards the aquaculture industry.Hans Petter Eikeland, Chairman of the Board at Bergen Group ASA, states that the merger agreement has full support from the company's main shareholders…

Eni Wins Offshore Mozambique Block

Image: Eni

Italian oil and gas major Eni has signed in Maputo the contract for the exclusive exploration and development rights of the offshore block A5-A, in the deep waters of the Northern Zambezi Basin, approximately 1,500 km to the north east of the capital Maputo.With this acquisition, Eni further strengthens its presence in Mozambique, a country that has a strategic relevance for the company, said a press release from the company.The block was awarded to Eni as a result of the participation to the 5th competitive Licensing Round launched by the Republic of Mozambique.

MOL buys Eni's Adriatic Offshore Gas Stakes

Image: ENI

MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica.INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months.The transaction covers 4.3 million…

Lundin Petroleum Says Arctic Oil Test Points to Bigger Reservoir

(Photo: Lundin Petroleum)

Swedish oil firm Lundin Petroleum expects to increase its resource estimate for the Alta discovery in Norway's Arctic region following a successful two-month production test.Finding significant oil reserves in the Norwegian Arctic has been challenging for oil firms, but Alta is among the exceptions along with ENI's Goliat field and Equinor's Johan Castberg discovery.Lundin and its partners are considering developing the discovery as a subsea field connected to a floating production and storage vessel…

Global FPSO Market to Exceed USD 115 bln by 2024.

Image: BW Offshore

Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth.Increase in the conversion of vessel to FPSO to augment the productivity and minimize the capital expenditure may complement the business growth, said a report from Global Market Insights.Converted FPSO market is witnessed to grow over 18%. Comparison with new built…

Guyana Puts Oil Auctions on Hold

(File photo: Hexx Corp)

Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Monday.Since 1999, Guyana has awarded a group led by Exxon Mobil Corp hundreds of oil blocks along Guyana's maritime borders with Venezuela and Suriname. Their finds are turning Guyana, a country with no history of oil production and relaxed energy regulation, into one of Latin America's hottest prospects for oil investments.Exxon…

Bristow Commences New Contract in Barents Sea

Photo: ENI Norge AS

Bristow Norway AS is commencing a previously announced five-year contract today (September 1, 2018), from its Hammerfest base. Bristow will provide helicopter offshore crew change services and search and rescue (SAR) services to support Eni Norway and Equinor."We are very proud of the recognition we have received in securing this work in the Barents Sea," said Area Manager Norway Heidi Wulff Heimark. "This confirms that the work our employees do every day brings results. The contract…

Maersk Drilling Wins Semi-Submersible Rig Contract Offshore Timor-Leste

Image: Maersk Drilling

Maersk Drilling signed on semi-submersible rig Mærsk Deliverer with Eni for exploration well offshore Timor-Leste.Maersk Drilling and Eni JDPA 11-106 B.V. (Eni) as operator of the JPDA 11-106 Joint Venture have signed a one-well contract for the semi-submersible rig Mærsk Deliverer for exploration drilling in the Timor Sea.The estimated duration of the firm contract is two months, expected to commence in March 2019. The contract contains an option for an additional well with an expected duration of an additional two months.The Mærsk Deliverer is currently warm-stacked in Labuan…

Aker Bets on Software Engineers for Its Oil Business

(Photo: Aker BP)

When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one.So instead they set up their own, Cognite, to create digital maps of Aker BP's oil industry assets, integrating data from equipment such as pumps, heat and pressure sensors, maintenance records and even staff rotas to improve efficiency and safety.Less than two years later, Cognite is selling its software to Aker BP's rivals and one competitor…

Shell to Make Final Investment Call on Nigeria Oilfield in 2019

Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria's Bonga Southwest offshore oilfield, a senior company official said on Tuesday.The project, one of the country's largest with an expected production of 180,000 barrels per day, will generate profit at below $50 a barrel, Bayo Ojuli, managing director of Shell Nigeria Exploration and Production Company, told reporters.Shell is currently negotiating a production sharing contract with the Nigerian government which will determine the viability of the project, he said. The negotiations are expected to finish this year.Shell operates the project and ExxonMobil, Total , Eni and the Nigerian National Petroleum Company are partners.(Reporting by Ron Bousso; editing by Jason Neely)

Offshore Cape Three Points Begins Gas Delivery to Ghana

Image: Vitol

Vitol said that the Offshore Cape Three Points (OCTP) integrated oil and gas project offshore Ghana has commenced delivery of gas from the Sankofa field to Ghana National Petroleum Corporation (GNPC).Both Vitol and GNPC are partners in the OCTP project alongside operator Eni. The offshore project is expected to provide stable supplies of cost effective and environmentally friendly, domestic fuel for the Ghanaian power sector, said Vitol.The estimated net cost of gas to Ghana will be less than $4.5/MMBtu…

Eni CEO Claudio Descalzi Meets Angola's president

The President of Angola João Gonçalves Lourenço meets Eni CEO Claudio Descalzi. Photo: ENI

Eni president Claudio Descalzi has met Angola's president Joao Goncalves Lourenco in Luanda to discuss the Italian energy giant's operations in the country.During the meeting with President João Lourenço, Claudio Descalzi said that they discussed the participation of the Italian multinational in the studies and exploration of crude oil and in other sector-related projects.ENI plans to spend billions of dollars in exploration and development of new offshore areas next year, he has informed.In the sidelines of the meeting…

Eni Staying in Cyprus Despite Island's Standoff with Turkey

Italy's Eni will not relinquish its interests in Cyprus, its CEO said on Wednesday, as an uneasy standoff between Turkey and the Mediterranean island lingered over offshore hydrocarbons resources.The Italian state-controlled energy giant had to abandon a scheduled drill for oil and gas south of Cyprus in February because of Turkish military exercises. The broader region has yielded some of the largest natural gas finds worldwide in recent years."I just want to remind (sic) that so far we have invested about 700 million euros in Cyprus. That means that there's strong engagement and commitment towards the country," Eni CEO Claudio Descalzi…

DP World Opens Limassol Passenger Terminal

Photo: DP World

The new cruise passenger terminal at DP World Limassol was inaugurated today by Cyprus President, His Excellency Mr. Nicos Anastasiades; Minister of Transport, Communications and Works, Mrs. Vassiliki Anastassiadou; the Mayor of Limassol, Nicos Nicolaides and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem. The operational opening of the terminal was attended by almost 300 guests and will enable the largest cruise ships in the world to visit the country for the first time.

Cyprus-Egypt Gas Pipeline to Cost $800 mln-$1 bln

A pipeline connecting Cyprus' Aphrodite gas field to Egypt's liquefied natural gas (LNG) facilities will cost between $800 million and $1 billion, Egyptian petroleum minister Tarek El Molla said on Monday. Egypt has rapidly increased its production of natural gas and is hoping to become a hub for exporting to Europe after making a series of big discoveries in recent years. Molla, speaking at a joint news conference with Cyprus energy minister Yiorgos Lakkotrypis, said Cypriot gas would be used in part for domestic consumption and in part for export. Lakkotrypis said a final agreement on the pipeline would be signed as quickly as possible but did not specify when. Egypt is hoping to halt gas imports by 2019 and achieve self-sufficiency.

Egypt Approves Oil Exploration Deal with Eni, Tharwa

© Igor Shkvara / Adobe Stock

Egypt has approved an exploration agreement with Italy's Eni and the Egyptian Tharwa company to search for oil and gas in the Mediterranean off the coast of northern Sinai, the Egyptian oil minister said on Wednesday.Under the deal, Eni and Tharwa will spend $105 million in two stages over six years, which involve drilling one well in the first stage and another in the second, Tarek El Molla told journalists.Reporting by Momen Saeed Atallah, writing by Sami Aboudi

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