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European oil and gas majors spend more on wind and solar power

European oil and gas majors spend more on wind and solar power   European oil giants embarked on $20 billion of low-carbon energy projects in the first quarter of this year, 25 times more than they committed to oil and gas, according to analysis. Eighteen such transactions and projects were announced in a “hive of ‘New Energy’ activity” as the oil groups stepp...

BP to Stop Flaring of Natural Gas in Permian Basin by 2025: WSJ

BP to Stop Flaring of Natural Gas in Permian Basin by 2025: WSJ   BP Plc will spend about $1.3 billion to build a network of pipes and other infrastructure to collect and capture natural gas produced as a byproduct from oil wells in the Permian Basin of Texas and New Mexico, the Wall Street Journal reported. The plans, to be announced Monday, will eliminate routine flaring of natural gas in the oil field by 2025, the paper said. The burning of gas in this way is prevalent in the Pe...

"Decarbonisation Pathways in Energy" EIC Supply Chain Updates

Decarbonisation Pathways in Energy   The EIC is delighted to have joined forces with OGV Energy to deliver a series of informative industry podcasts which will discuss the important topics of the day that are impacting the energy industry here in the UK and globally.  The inaugural podcast discusses decarbonisation pathways with European colleagues, and highlights some of the opportunities and challenges that exist for the supply chain.     Joining us in t...

The new North Sea players riding the wake of the retreating majors

The new North Sea players riding the wake of the retreating majors   Private companies’ share of UK oil and gas production reached nearly a third last year — up from just 8 per cent a decade ago as a new breed of players, often backed by deep-pocketed private equity funds, continues to scoop up North Sea assets from retreating majors and utilities. A recovery in the oil price has triggered $2.5bn worth of deals in the UK North Sea since January in a further “chang...

Worley Wins Services Contract for Phillips 66 Renewable Fuels Project

Worley Wins Services Contract for Phillips 66 Renewable Fuels Project   Worley has been awarded a front-end engineering services contract on April 15 by Phillips 66 to convert its San Francisco refinery in Rodeo, California, into a renewable fuels-manufacturing facility. The project will reconfigure the refinery and produce up to 650 million gallons per year of renewable transportation fuels from used cooking oils, fats, greases and vegetable oils. Once built, the renewable fuels...

UK government is called to withdraw support for Mozambique gas plant due to rising unrest

UK government is called to withdraw support for Mozambique gas plant due to rising unrest   The UK government has been urged to abandon its plan to support a gas export terminal in Mozambique after fears that the project is fuelling unrest in the north of the country. Friends of the Earth, an environmental group, wrote a letter to the government warning that the natural gas plan is only worsening the insurgency in Mozambique’s Cabo Delgado province. They also called on th...

Key jacket foundation contract awarded

Key jacket foundation contract awarded   Harland & Wolff has been awarded a contract by Saipem Limited for the fabrication and load-out of eight wind turbine generator (WTG) jacket foundations. The jacket foundations will service the EDF Renewables and ESB owned Neart na Gaoithe Offshore Wind Farm project located in the outer Firth of Forth in Scotland. The contract schedule is due to commence from 1 July 2021 and is anticipated to create around 290 direct and indirect jobs....

BP prepares to retire Petrojarl Foinaven FPSO in UK

BP prepares to retire Petrojarl Foinaven FPSO in UK   BP has stopped production from the Foinaven field offshore UK as the long-serving FPSO Petrojarl Foinaven nears the end of its 25-year design life. Initially, the company was planning to extend the life of the vessel to 2025 but decided against extension considering the age and the ‘demands of operating west of Shetland’. BP and its partners are now assessing other options to recover the remaining reserves of up t...

New distribution deal!

New distribution deal!   First Integrated Solutions Ltd. are very pleased to announce its new partnership with NEWARC, the UK’s leading manufacturer of MMA, MIG, TIG Inverter Welding Power Sources. This exclusive distribution deal covers the entire geographical region of Scotland. The comprehensive range of cost-effective NEWARC welding equipment is designed for easy operation and maintenance, portability, and reliability - even in the most extreme conditions. First Integr...

“Nexans Aurora Deck Lay Equipment Install Complete

“Nexans Aurora Deck Lay Equipment Install Complete   The installation of the MAATS Tech cable lay equipment package onboard cable laying vessel (CLV) Nexans Aurora has been completed. The MAATS Tech team installed and tested the package which includes the carousel, loading arms, access tower and control cabin at the Ulstein Verft shipyard. According to Nexans, the next step is the heeling test. Nexans signed a deal with Ulstein Verft for the construction of Nexans Auror...

North Sea oil and gas firm pursuing acquisitions in area

North Sea oil and gas firm pursuing acquisitions in area   North Sea-focused Serica Energy is still on the hunt for acquisitions in the area despite seeing profits plunge in the latest year. Serica made £12.5 million profit before tax last year compared with £108.8m in 2019, after feeling the impact of the fall in oil and gas prices triggered by the pandemic and of a setback on a key field. The company stopped production from the Bruce, Keith and Rhum (BKR) fields fo...

Future of historic West of Shetland oil field put in question

Future of historic West of Shetland oil field put in question   BP has suspended production from a historic West of Shetland development amid the challenges posed by the fallout from the coronavirus crisis and the energy transition. The oil and gas giant has stopped pumping oil from its giant Foinaven fields West of Shetland for the time being after deciding not to try to extend the life of the production vessel used on them. Foinaven was the first field brought into production...

Subsea 7 S.A. announces an update to the terms of its $200 million share repurchase programme

Subsea 7 S.A. announces an update to the terms of its $200 million share repurchase programme   Subsea 7 today announced that on 15 April 2021, the Board of Directors authorised a 24-month extension to the Group’s $200 million share repurchase programme, previously announced on 25 July 2019. The extension will expire on 14 April 2023. The terms of the share repurchase programme have been updated in accordance with the authority granted to the Board of Directors at the Extraor...

Oceaneering Rotator Unveils New Topside Chemical Throttle Valve

Oceaneering Rotator Unveils New Topside Chemical Throttle Valve   Oceaneering International’s Rotator business has launched a new high-performance Topside Chemical Throttle Valve (T-CTV) for multiple industries including oil and gas, chemical processing, wastewater treatment, medical, and pharmaceutical. The T-CTV leverages existing field-proven technology to address operational requirements for efficient topside chemical dosing. The T-CTV provides an innovative, cost-effecti...

Ocean Infinity and Gregg Drilling form joint venture

Ocean Infinity and Gregg Drilling form joint venture   Marine robotics company Ocean Infinity and geotechnical drilling experts Gregg Drilling, a subsidiary of Alaska Native Corp. Sealaska, have formed a joint venture (JV) to provide geotechnical services to offshore markets in traditional and renewable energy field developments and cables. The JV combines the expertise and assets of the two companies and will see Gregg Drilling mobilise its seabed drills onto the Armada fleet of u...

Total to defer drilling application for offshore block in South Africa

Total to defer drilling application for offshore block in South Africa   Oil major Total has reportedly decided to delay application for drilling work at the block 11B/12B offshore South Africa. Reuters reported the development citing a letter from SLR, the consultancy that is undertaking the environmental and social assessment for the project. In its letter, the consultancy said: “This letter serves to notify you that TOTAL E & P South Africa BV has decided to postpon...

3t Energy Group appoints industry expert to head up new consultancy division

3t Energy Group appoints industry expert to head up new consultancy division   3t Energy Group is leveraging its extensive expertise in the global energy sector by establishing a new consultancy division headed up by industry professional, Alan Sharp. The new division called, ‘3t Training Solutions,’ will provide a wide selection of specialist consultancy services ranging from helping companies gain new industry accreditations to instructor training, guidance on facilit...

Welltec awarded intervention deal with Petronas

Welltec awarded intervention deal with Petronas   Welltec has been awarded an exclusive three-year contract by Petronas. The agreement, which officially commenced on 1 April, appoints Welltec as the sole provider of downhole conveyance and powered mechanical services in both East and West regions of Malaysia. “It’s a great team effort that has that has led to the award of this exclusive long-term contract with Petronas, and Welltec has demonstrated a strong ability to d...

Serica Energy profits plunge in tough year for sector

Serica Energy profits plunge in tough year for sector   Upstream oil and gas company Serica Energy reported group profit before tax of £12.5m in its 2020 results on Thursday, plunging from £108.8m year-on-year, which it put down to low commodity prices and the Bruce caisson shut-in. The AIM-traded firm reported average net production of 23,800 barrels of oil equivalent per day, down from 30,000 barrels per day in 2019, with the reduction die to caisson repairs in the fi...

Is modular engineering design and construction a solution for cost effective global operations?

Is modular engineering design and construction a solution for cost effective global operations?   The UK energy market is transitioning, oil and gas is in slow decline, decommissioning is focussing on single lift solutions and the renewables market is in significant growth mode, albeit very cost driven. UK energy contractors need to adapt their thinking to focus on cost effective solutions for the UK energy market, while expanding their operations to the global energy markets. B...
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