Oil And Gas Sector News

31 Jan 2019

744 Ships Scrapped in 2018

Image: NGO Shipbreaking Platform

744 large ocean-going commercial vessels were sold to the scrap yards in 2018, out of which 518 were broken down on South Asia beaches, accounting for a record-breaking 90.4% of the gross tonnage dismantled globally.According to new data released by the NGO Shipbreaking Platform,  at least 34 workers lost their lives when breaking apart the global fleet. The Platform documented at least 14 workers that died in Alang, making 2018 one of one of the worse years for Indian yards in…

21 Jan 2019

China’s Oil and Gas Industry to Focus on Environment Impact

Arthur William Stoddart, Regional Manager of Greater China, Korea & Japan, DNV GL - Oil & Gas

China’s oil and gas industry is set to reinforce efforts to reduce environmental impacts of its projects and operationsin 2019, said a research.According to a new research from DNV GL, six in ten (61%) senior oil and gas professionals in China say their organizations are actively preparing for the transition to a lower carbon energy mix compared to 51% globally. Industry leaders’ focus on decarbonization aligns with the Chinese government’s new ‘Blue Sky’ plan to tackle air pollution…

09 Jan 2019

N-KOM Building Offshore Living Quarters in Qatar

(Photo: N-KOM)

Nakilat-Keppel Offshore & Marine (N-KOM) held a steel cutting ceremony for a new offshore accommodation platform under construction at the Erhama bin Jaber Al Jalahma Shipyard in Qatar.Chief Executive Officer of Nakilat, Eng. Abdullah Al Sulaiti, said, “This ceremony marks a milestone not only for N-KOM but also for Qatar, as this is the first such offshore fabrication to be wholly-constructed locally.”The project scope was awarded to N-KOM by Rosetti Marino, a Italian company providing engineering, procurement and construction (EPC) services to the energy industry worldwide.

19 Dec 2018

Xodus Appoints Phil Cooper as New Director

Photo: Xodus Group

The Scottish energy group Xodus Group has appointed Phil Cooper as a new corporate development director to support the continued growth of the company.The Aberdeen-based international energy consultancy said in a press release that Cooper has more than 35 years of experience and was most recently London general manager at Heerema Marine Contractors where he led a team of engineers engaged in heavy lift and subsea technical activities.Previously, he was the global technology director…

05 Dec 2018

BHGE Inks 3-year Contract with Saudi Aramco

Image: Baker Hughes

Saudi Aramco has awarded major stimulation and well-testing contract to Baker Hughes, a GE company (BHGE). BHGE will deliver a comprehensive well services solution including all cased-hole wireline logging, perforation, well testing, stimulation, fracturing and associated intervention services.By integrating discrete products, services and capabilities into a single offering, BHGE will help Saudi Aramco reduce time, costs and complexity while increasing efficiency.The three-year…

19 Dec 2018

Neptune Energy Indonesia Gets New Managing Director

Eko Lumadyo, Managing Director of Neptune Energy’s Indonesian business. Photo: Neptune Energy

The oil and gas producer Neptune Energy has announced the appointment of Eko Lumadyo as Managing Director of its Indonesian business, based in Jakarta.Lumadyo will join Neptune from Mandala Energy Indonesia, where he is currently Country President and General Manager.Lumadyo has more than 30 years’ experience in upstream oil and gas exploration, development, planning, operations and commercial affairs. He started his career with Unocal as a geophysicist and progressed within the…

12 Nov 2018

Total Wins 40% Stake in Unconventional Gas Concession

Photo: Abu Dhabi National Oil Company

Abu Dhabi National Oil Company (Adnoc) has awarded a 40 per cent stake in the Ruwais Diyab gas concession to French energy major Total.Adnoc group, for which the award is an important milestone to reach the target of 1 Bcfd of unconventional gas production before 2030, said in a press release that it will retain a 60% stake in the concession.Under the terms of the agreement, Total will explore, appraise and develop the concession area’s unconventional gas resources.The agreement…

18 Oct 2018

Carlyle Group Acquires EnerMech from Lime Rock Partners

 Image: EnerMech

Global alternative asset manager The Carlyle Group announces that it has agreed to acquire EnerMech Group Ltd, an international services company providing critical asset support to the energy, infrastructure and industrials sectors, from Lime Rock Partners.The transaction is expected to close in Q4 2018, subject to customary anti-trust and regulatory approvals.Equity for this investment will come from Carlyle International Energy Partners (CIEP), a $2.5 billion fund that invests in the global oil and gas sector outside North America.

24 Oct 2018

Oil and Gas Demand to Peak in 2023 and 2034: DNV GL

Pic: DNV GL

The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050However, new oil fields will be needed until at least the 2040s, while new gas developments will be required beyond 2050. DNV GL’s Outlook predicts that operators will favour production from a greater number of smaller reservoirs with shorter lifespans, lower break-even costs and reduced social impact compared to those currently in operation.“Most easy-to-produce…

19 Oct 2018

LNG Investment Set to Grow

“We’re starting to see a lot more investment in LNG, but if you want to be in you have to start now,” Jim McCaul of International Maritime Associates (IMA)

Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as he is fresh off of a 12-month stint investigating the market in depth."We wanted to take a fresh look at the market, to identify opportunities both in the production and regassification of LNG" is how McCaul, founder of IMA, best describes his team’s 12-month effort to study and report on the industry.

11 Oct 2018

LNG Report: Floating Liquefaction & Regasification

Prelude. Photo: Shell

International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector. Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.

29 Oct 2018

Seacat Services Eyes Growing Offshore Wind Market

(Photo: Seacat Services)

U.K. based offshore energy support vessel (OESV) operator Seacat Services said it has seen unprecedented growth in demand for crew transfer vessel (CTV) services across 2018 in offshore wind.The fourth quarter of 2018, is, atypically, seeing surging demand for offshore wind crew transfer, according to Seacat Services, as it reports its latest operational figures. In the month of October, transfers and charter days exceeded the sum total for 2017, closely following third quarter figures that surpassed company records to date.Seacat said it is seeing rising demand for larger…

28 Nov 2018

Hardide Coating for Subsea Duties

Image: Hardide Coatings

The provider of advanced surface coating technology Hardide Coatings has provided a coating solution for a new tool that will save oil and gas operators millions of pounds per year by extending weather windows for drilling operations.According to a press release from the manufacturer of coatings,  well construction specialist DeltaTek Global selected the Hardide CVD (chemical vapour deposition) tungsten carbide-based coating for the key component of its new ArticuLock tool.ArticuLock…

05 Dec 2018

Aker Solutions, Siemens Join Forces To Strengthen Digital Offerings

Image: Aker Solutions

Norway's Aker Solutions has forged an alliance with the German technology giant Siemens to further develop digital offerings in engineering, operations and services.The global engineering company based in Oslo said that the collaboration focuses on the creation of software applications and joint service offerings including the development of industrial digital twins that will drive efficiency throughout the entire plant lifecycle.In addition, the companies will further develop specific offerings for the oil and gas sector based on Siemens' Comos engineering platform.

26 Jun 2018

Gas to Overtake Oil as Primary Energy Source by Mid-2030s

Photo: DNV GL

Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. Confidence in the case for gas is growing, according to a survey by DNV GL, the technical advisor to the industry. The vast majority (86%) of the 813 senior industry professionals surveyed agree that gas - the least carbon-intensive fossil fuel - will play an increasingly important role in the global energy mix over the next decade, up from 77% last year.

29 Aug 2018

DNV GL on Use of AI in Oil and Gas

Image: DNV GL

As artificial intelligence (AI) systems begin to control safety-critical infrastructure across a growing number of industries, the need to ensure safe use of AI in systems has become a top priority.DNV GL has launched a position paper to provide guidance on responsible use of AI. The paper asserts that data-driven models alone may not be sufficient to ensure safety and calling for a combination of data and causal models to mitigate risk.Entitled AI + Safety, the position paper…

31 Aug 2018

Polaris Acquires Falck Safety Services and Falck Fire Academy

Photo: Falck Safety Training

Polaris and Falck have signed an agreement whereby Polaris will acquire 100 percent of the shares in Falck Safety Services Holding A/S and take over all Safety Services activities in Falck for an undisclosed sales price. This transaction, expected to close during September 2018, also includes the Falck Fire Academy in the Netherlands.Falck President & CEO Jakob Riis said, “We are focusing our business and reducing complexity to build leadership in our core business areas. Safety Services is a leader in rescue and safety training.

04 Oct 2018

Seaspan to Invest $200 Mln into Offshore Vessel Owner Swiber

Image: Swiber

Singapore-based offshore contractor Swiber has signed a $200 million deal with box ship player Seaspan Corporation, just days after it announced the expiry of a term sheet for a share swop arrangement with Australian power generation firm, Interlink Power & Energy Holdings.In a stock exchange announcement, the offshore construction and services group said that it has signed with Seaspan a binding term sheet on October 3, 2018, which is subject to definitive agreements being entered into on mutually agreed terms.

03 Sep 2018

5000th Ship Installed Inmarsat Fleet Xpress

Image: Inmarsat

The 5,000th ship installation of Inmarsat Fleet Xpress, the world’s only high-speed, globally-available Ka-band VSAT service designed for mobility and available from a single operator, is set to be completed by the close of the month.Following its launch in March 2016, Fleet Xpress has emerged as the market-leading pathway to digital transformation as shipping companies seek to deliver improved vessel and fleet efficiency, boost profitability and enhance seafarer wellbeing.The latest data compiled by the respected…

04 Oct 2018

IMA Completes 12-month Study of the Floating Liquefaction and Regasification Market

© Wojciech Wrzesien / Adobe Stock

International Maritime Associates has just completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector.Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.

19 Sep 2018

IUMI: Cautious Optimism for Offshore Underwriters in 2018

James McDonald. Photo:  International Union of Marine Insurance

Although global premiums for the offshore energy insurance sector dipped by 5% in 2017, signs of recovery are on the horizon."We need to apply some caution as the margins between supply and demand are thin but these small margins can create volatility in the market," pointed out International Union of Marine Insurance (IUMI)'s Offshore Energy Committee Chairman, James McDonald.Oil prices have steadily risen by 40% since last year’s IUMI conference and this is starting to drive activity in the oil and gas sector.

20 Sep 2018

Hydra Preparing for Offshore Upturn

The SAT-14 diving system (Photo: Hydra)

Offshore and subsea construction company Hydra said it has entered into the saturation diving market in anticipation of an offshore oil and gas sector rebound.Trevor Davis, president and CEO of the Texas-based company, said Hydra has converted its flagship vessel Subsea Responder and acquired a modular 200msw/12-man saturation diving system to prepare for new projects as the oil and gas industry experiences an upturn.“The oil and gas industry is showing signs of a bounce back [after] reaching a five-year low,” Davis said.

02 Oct 2018

Shipbuilding: Seaspan Shipyards & Building Canada’s Future

(Photo: Heath Moffat Photography)

There’s a shipbuilding resurgence underway in Canada that’s being driven by a long-term multibillion dollar government initiative to rebuild the federal fleet of Royal Canadian Navy and the Canadian Coast Guard vessels and breathe new life into the country’s shipbuilding industry. Seaspan’s Vancouver Shipyards is an active player.Under Canada’s National Shipbuilding Strategy (NSS), the Vancouver, B.C. shipbuilder was selected in 2011 to deliver several types of large non-combat vessels for the Navy and Coast Guard…

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