Gas Fields News

28 Nov 2019

Petronas Names Second FLNG in S. Korea

Image: Petronas

Malaysian oil and gas company Petronas named its second floating liquefied natural gas (LNG) facility, the PFLNG Dua, in a ceremony in Geoje, South Korea.The floating LNG facility is designed to extract gas from deepwater gas reservoirs in depths up to 1,500 meters.With PFLNG Dua, the national oil and gas company of Malaysia owns and operates two floating LNG facilities, following the success of PFLNG Satu which has been in operation since 2017. This achievement demonstrates Petronas’…

22 Nov 2019

FPSO Vessel Revenue to Reach $8.30Bln by 2026

Pic: MODEC

The global floating production storage and offloading (FPSO) vessel market is expected to grow at a robust rate of 11.80% during the forecast period 2016 to 2026. Additionally, the revenue in the global FPSO vessel market is projected to reach up to US$8.30bn by the end of 2026.Growing demand for alternative sources of oil due to continual depletion of existing oil reserves drives the global FPSO vessel market, said a report by Transparency Market Research Market (TMR).On the basis of geography, Latin America held a large share until 2016.

31 Oct 2019

New 3D Geophysical Survey Vessel Named

Seismic vessel Tansa (Photo: NYK Group)

On September 29, a delivery ceremony for a new 3D geophysical seismic survey vessel was held at the port of Tokyo and attended by NYK chairman Tadaki Naito.The new vessel, Tansa, will be operated by Ocean Geo-Frontier Co. Ltd (OGF), a company jointly owned by NYK and others.Through a consignment service agreement with OGF and JOGMEC, NYK is entering the geophysical survey business at the most upstream part of the energy value chain and making efforts to accumulate experience and…

05 Sep 2019

India and Russia Sign Energy Deals

IndianPrime Minister, Narendra Modi and the President of Russian Federation, Vladimir Putin at the Joint Press Statements, at Vladivostok, in Russia on September 04, 2019. Photo: PIB

India and Russia have agreed on a five-year roadmap to step up cooperation in the hydrocarbon sector, including investment, not only in exploration and production in each other's oil and gas fields but also in downstream projects.India invited Russian companies to invest in its oil refining and petrochemical projects as the two nations vowed to increase energy cooperation going beyond LNG supplies and stakes in Russian oil and gas fields.According to a joint statement issued after India Prime Minister Narendra Modi's annual bilateral summit with Russian President Vladimir Putin in Vladivostok…

05 Sep 2019

SHI, Zvezda Partner in Arctic LNG 2 Carriers

Arctic LNG 2 project of Novatek. Image: Novatek

South Korean shipbuilder Samsung Heavy Industries (SHI) has announced that it has signed a contract to assist Russian shipyard Zvezda Shipbuilding Complex with the construction of icebreaker LNG carriers for the Arctic LNG 2 project.According to a statement, SHI is selected by Zvezda Shipyard as the partner for the construction of Arctic LNG carriers in Russia thanks to SHI's expertise and technological prowess.The two sides have also confirmed the establishment of a joint venture for cooperation on shuttle tankers where SHI has the highest market share…

26 Aug 2019

U.S. To “Drown The World” In Oil

Image: Global Witness

A staggering 61% of the world’s new oil and gas production over the next decade is set to come from one country alone: the United States.According to a report by Global Witness, the sheer scale of this new production dwarfs that of every other country in the world and would spell disaster for the world’s ambitions to curb climate change – the effects of which we’re already witnessing through massive heat waves, flooding, and extreme weather.Earlier this year, we crunched the numbers…

12 Aug 2019

PG Flow to Supply Mud Agitators for MMA

MMA Chieftain (Photo: MMA Offshore)

Australian provider of marine solutions and expertise to the offshore oil and gas industry, MMA Offshore orders mud agitators for its AHTS MMA Chieftain, which is operating in the Middle East region.Norwegian pump and liquid handling specialist PG Flow Solutions will supply a set of PG-Submix 80 hydraulically driven mud agitators to the AHTS (anchor handling tug supply vessel), plus hydraulic power unit and control system. This proven solution meets with the stringent demands of Saudi Aramco…

21 Jun 2019

Modec Signs LOI for FPSO with Petrobras

Image: MODEC

MODEC Inc. received a letter of intent (LOI) from Petróleo Brasileiro for the supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel for the Búzios field.The firm time charter period of the contract is 21 years, it said in a press release.The new LOI will be the fifth FPSO deployed at the Búzios field, however it is the first chartered production unit for the region. Búzios is one of the offshore oil and gas fields in Brazil which forms part…

13 May 2019

Oil&Gas Industry Records 1242 Contracts in Q1

Pic: Adnoc

The Oil and Gas industry reported 1242 contracts, of which 1178 were awarded contracts, said Quarterly Oil & Gas Industry Contracts Review.Europe, the Middle East and Africa (EMEA) region recorded the most contracts with 569 contracts, representing around 48% of the total awarded contracts in Q1 2019, followed by Americas region with 366 contracts, accounting for 31% of the total awarded contracts.Upstream sector reported 73% of the total awarded contracts, with 862 contracts.

08 May 2019

QP Issues Tender for LNG Facilities

Pic: Qatar Petroleum

Qatar Petroleum (QP) invites tender for Engineering, Procurement and Construction (EPC) to expand its common lean liquefied natural gas (LNG) storage, and the loading and export facilities for its North Field Expansion (NFE) Project aimed to further develop one of the world’s largest offshore gas fields.The tender package, which was issued to world class contractors, apart from EPC of three LNG storage tanks, calls for compressors to recover tank boil off gas during storage and jetty boil off gas during LNG vessel loading…

08 May 2019

800bln Undiscovered Barrels of Oil and Gas Exist Globally

Graph: Rystad Energy

Total greenfield project sanctioning, summed up to the present day, only accounts for 40% of estimated volumes of offshore projects ever being sanctioned, said Rystad Energy, the  energy research and consultancy headquartered in Norway."Likewise, the brownfield market has only begun, with total historical expenditures accounting for only about 20% of estimated brownfield spend over the projects lifetime, leaving 80% of brownfield spending to the future. And the decommissioning market is still in its nascent form…

22 Apr 2019

BSOG Gets Approval in Offshore Romania

Image: Black Sea Oil & Gas

Romanian-based Black Sea Oil & Gas (BSOG), controlled by private equity firm Carlyle Group, said that it received approval from the Romanian government for the field development plan (FDP) for the Ana and Doina gas fields.The Ana and Doina gas fields make up the Midia Gas Development (MGD) Project, offshore Black Sea.The MGD Project, which is the 1st new offshore gas development project in the Romanian Black Sea to be built after 1989, consists of 5 offshore production wells (1…

15 Apr 2019

Woodside Expands LNG Supply

Pluto LNG. Image: Woodside Energy

Australian exploration and production company Woodside has opened a liquefied natural gas (LNG) truck loading facility at its Pluto LNG project in Western Australia (WA), as it looks to develop the domestic LNG market for remote power generation and transport fuels.The Pluto LNG project is located 190km north-west of Karratha in WA, in the Northern Carnarvon Basin. It processes LNG from the Pluto and Xena gas fields, which have total dry gas recoverable reserve volumes of 4.4 trillion cubic feet (tcf) and 0.6tcf respectively.Following the completion of commissioning activities…

06 Mar 2019

Oman: Gas Production to Surpass Oil by 2023

Graph: Rystad Energy

Oman’s gas production levels are set to surpass oil by 2023 thanks to an impressive surge in the development of gas fields in the sultanate, according to Rystad Energy, the independent energy research and consulting firm headquartered in Norway.“Gas is on the rise in the Arab country on the southeastern coast of the Arabian Peninsula in Western Asia, and this transition is very timely. Oil output declines over the last two years may indicate a point of no return for Omani oil…

03 Mar 2019

Asia: Pertamina, Petronas Join Forces

Image: Petronas

Indonesian state-owned energy company PT Pertamina and Petroliam Nasional Berhad (Petronas) of Malaysia have signed a Memorandum of Understanding (MoU) to develop oil and gas business – upstream and downstream, not only in Indonesia or Malaysia but also in other countries.As per MoU, Pertamina will swap crude produced in its Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Petronas' Indonesian fields of Jabung and Ketapang, said a Reuters report quoting Pertamina sources.Meanwhile…

25 Feb 2019

Environmental Concerns to Lift LNG Demand

File Image: Credit QGTC

China LNG demand soars amid push to reduce pollution; LNG demand to reach 384 mln tonnes in 2020 -Shell.Global liquefied natural gas (LNG) trade is set to rise 11 percent this year as China leads a global drive to reduce pollution and tackle carbon emissions, Royal Dutch Shell said in an annual LNG report on Monday.Shell's forecasts, which see LNG demand rising to 354 million tonnes this year and to 384 million tonnes in 2020, reflect a burgeoning industry with new production facilities opening in Australia…

22 Feb 2019

Australia Leads FPSO Deployment in AsiaPac

FPSO. Pic: Modec

A total of 67 floating production, storage and offloading (FPSOs) vessels are expected to start operations globally by 2025, with Australia leading the Asia-Pacific region.Globally, 67 planned and announced FPSOs are expected to start operations between 2019 and 2025, revealed the report 'Q1 2019 Global FPSO Industry' by GlobalData.Of these, 26 are planned and 41 are announced and of these Australia will account for all FPSOs planned for deployment in Oceania during 2019-2025.In Oceania…

21 Feb 2019

Oi: Tracking 50 Years of Ocean Innovation

Marine Technology Reporter published a supplement to celebrate the 50th anniversary of Oceanology International. Photo: MTR

As Oceanology International celebrates its 50th Anniversary, Marine Technology Reporter explores half a century of subsea technology development and discovery. Oceanology International Americas runs February 25-27, 2019 in San Diego.When Oceanology launched in 1969 in the seaside resort of Brighton the world was a very different place. For a start, Brighton was home to the mods and rockers, who would square off against each other on the town’s elegant seafront. The British currency included shillings and ha’ pennies and man had yet to step foot on the moon.More crucially…

12 Feb 2019

Porthos CCUS Project Getting Ready

Image: Port of Rotterdam

Port of Rotterdam Authority, Dutch natural gas infrastructure and transportation company  Gasunie and Energie Beheer Nederland (EBN) are preparing a CCUS (Carbon Capture Usage and Storage) project, in which COâ‚‚ from industry will be transported to storage sites in depleted gas fields deep beneath the North Sea seabed.The three companies are working together on the preparation of this project under the name Porthos: Port of Rotterdam COâ‚‚ Transport Hub & Offshore Storage.The Porthos…

07 Feb 2019

ADNOC Awards USD1.36bln Contract

Image: ADNOC

State-owned Abu Dhabi National Oil Company has awarded a contract worth Dh5 billion (USD1.36bln) to a UAE-based company for dredging, land reclamation and marine construction for artificial islands being developed as part of its offshore ultra sour Ghasha concession.The contract awarded to the UAE’s National Marine Dredging Company (NMDC) is valued at AED 5 billion (US 1.36 billion) and will achieve substantial In-Country Value of over 70 percent. The Ghasha Concession consists of the Hail…

23 Jan 2019

Offshore Upswing: CNOOC Spend Highest Since 2014

© xmentoys/AdobeStock

China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.The company plans to spend 70 billion to 80 billion yuan ($10.3 billion to $11.8 billion) on exploration and production, CNOOC said in a press release on Wednesday, compared with an expected 63 billion yuan in capital spending for 2018.Beijing has called…

11 Jan 2019

PetroVietnam: Maritime Tensions Weigh on Operations

(Photo: PetroVietnam)

Vietnam's state oil firm PetroVietnam said on Friday that tension in the South China Sea will continue to weigh on its offshore operations this year.The company, formally known as Vietnam Oil and Gas Group targets to produce 12.37 million metric tonnes of crude oil this year, down 11.45 percent from last year's output, it said in a statement.Vietnam and China have been embroiled in maritime disputes in parts of the busy waterway, where China claims 90 percent of the potentially energy-rich maritime territory, which Vietnam calls the East Sea."The complicated developments in the East Sea have h

09 Jan 2019

Jan de Nul Completes Umbilical Installation Offshore Egypt

Jan De Nul successfully completes first major umbilical installation project. Image: Jan De Nul

Marine engineering firm Jan De Nul Group Jan De Nul Group has completed the installation and burial of the two main subsea umbilicals for the exploitation of new gas fields in the West Nile Delta concessions, located in the North Alexandria region, offshore Egypt.According to the company release, specifically for this project, Jan De Nul Group reconfigured its multi-purpose vessel Willem de Vlamingh into an efficient Umbilical Installation Vessel.The two umbilicals, with a total length of 69 km, were loaded in Norway in May 2018 and transported to Egypt.

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

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