Gas Production Capacity News

Dubai's shipbuilding and shiprepair company Drydocks World and Norwegian offshore engineering and construction firm Aker Solutions have established a joint venture to upgrade the Petrojarl Knarr FPSO for Equinor's Rosebank offshore oil and gas field in the UK, the Government of Dubai media office confirmed Friday.The joint venture signed its first contract with FPSO owner Altera Infrastructure to upgrade, refurbish, and electrify the FPSO. The vessel will be redeployed at Rosebank field…

Norway's Aker Solutions will upgrade Altera Infrastructure's Petrojarl  Knarr floating production storage and offloading vessel (FPSO) to be redeployed at Equinor's Rosebank field development, offshore the UK. Petrojarl Knarr was built by Samsung Heavy Industries in South Korea and delivered in 2014. It was operating on the Knarr field offshore Norway from 2015 until May 2022.The development concept for the Rosebank field includes the redeployment and reuse of the existing Petrojarl Knarr FPSO owned by Altera.Under a 'substantial' contract with Altera…

Norway's Equinor has confirmed to Offshore Engineer that it has signed an agreement with FPSO owner Altera Infrastructure that could see the Petrojarl Knarr FPSO redeployed at the long-stalled Rosebank project in the UK North Sea. The FPSO is currently producing oil from Shell's Knarr field, offshore Norway, where it has been since early 2015. In April 2020 Shell extended the Knarr contract to March 2022.The Rosebank field, apparently Petrojarl Knarr FPSO's next location, is located 130 km northwest of the Shetland Islands in 1115 m water depth…

Democratic members of Congress from California seized on the oil spill off the state's coast to promote federal legislation to ban all offshore oil drilling, as investigators searched for what caused the pipeline to burst.About 3,000 barrels (126,000 gallons) of crude oil spilled into the Pacific Ocean, killing wildlife, soiling the coastline, and forcing officials to close beaches in several cities in Orange County, just south of Los Angeles. The spill follows dozens of incidents in the Gulf of Mexico following Hurricane Ida, which slammed into the U.S.

Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) have purchased minority interests in the lease and operation of a newbuild floating production, storage and offloading unity (FPSO) from majority owner SBM Offshore. FPSO Sepetiba, formerly known as Mero 2, is currently under construction and will be leased for 22.5 years to Petrobras for deployment at the Mero field in the Santos Basin offshore Brazil. MC acquired 20% and NYK acquired 15.5% ownership interest in the companies.

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.

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.

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…

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.

Royal Dutch Shell has given the go-ahead to develop its Kaikias deepwater field in the Gulf of Mexico, the first such project the oil and gas company has approved in 18 months. Oil companies around the world are emerging from one of the longest downturns in recent decades amid warnings that the drop in investment in recent years may lead to a supply deficit by the end of the decade. Shell said the Kaikias oil and gas project, located some 210 kilometres (130 miles) from the Louisiana coast, will start production in 2019 and generate profits with oil prices lower than $40 a barrel after the company slashed its costs by around 50 percent due to simplified design plans. Oil prices were around $56 a barrel on Tuesday.

Chevron Corporation today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country. The project included an expansion of the existing gas plant to process increased natural gas volumes from the Bibiyana Field, additional development wells and an enhanced gas liquids recovery unit. The project is expected to boost Chevron-operated natural gas production capacity in Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day. In addition, the project is expected to increase the company-operated natural gas liquids production capacity by 4,000 barrels per day to 9,000 barrels per day. Chevron’s Bangladesh subsidiary has a 99 percent working interest in Bibiyana.

In the foreground is the P-52 FPU departing the yard on 11 September 2007. The consortium of Keppel FELS Brasil S/A and Technip Brasil Engenharia, Instalacoes e Apoio Maritimo S/A (Technip), FSTP Pte Ltd, has secured a $1.2 billion contract to build a semisubmersible Floating Production Unit (FPU) for Petrobras Netherlands BV (PNBV). FSTP is a 75/25 consortium company between Keppel Offshore & Marine (Keppel O&M) and Technip. The rig, to be named P-56, is expected to be delivered ex-yard in the last quarter of 2010. P-56 will be a repeat of the P-51 FPU which is currently being built at Keppel FELS Brasil’s BrasFELS yard. With this contract, the total orders secured to-date in 2007 by Keppel O&M is S$6.25 billion.