Petronas Names Second FLNG in S. Korea
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’ strong position in the LNG industry leading the way in innovative solutions to ensure a reliable and secure supply of LNG to meet the growing demand for cleaner energy.
Increased Confidence in CO2 Storage
If we are going to store large volumes of carbon dioxide (CO2) in depleted oil and gas reservoirs beneath the seabed we need to be sure that, in the unlikely event of a leak, we can detect it. A research expedition, carrying a world-first experiment designed to develop methods for the detection and monitoring of leaks, has just returned from the North Sea; it has been declared a great success.Climate change, driven by increasing CO2 levels in the atmosphere, is now a well-established side-effect of human activities that is having profound effects on the Earth’s natural systems.
Engie to Buy Gas from Romania's Black Sea Oil & Gas
Romanian based independent oil and gas company Black Sea Oil & Gas together with its co-venture partners, Petro Ventures Resources and Gas Plus International, announced the signing of the Gas Sales Agreement with ENGIE through its subsidiary Engie Energy Management Romania for natural gas supply from the Midia Gas Development (MGD)Project .Under this agreement, which is subject to Final Investment Decision, ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum period of 10 years in compliance with Romanian law.Expected contractual volumes at project completion represent 0,5 bcm per year.
US DOE Directs $30 Mln to Small Oil, Gas Projects
Six small U.S. oil and natural gas drilling projects will receive about $30 million in federal funding for research and development to help achieve President Donald Trump's policy of boosting output of fossil fuels, the Energy Department (DOE) said on Wednesday. The projects, selected by the DOE under the direction of Congress, are in what is known as unconventional shale development. They currently produce less than 50,000 barrels per day each. Unconventional oil and gas production uses advanced techniques such as hydraulic fracturing, or fracking, and horizontal drilling to reach pockets of resources that are trapped by rock and sand formations.
Changing the Landscape of LNG Production
Successful completion of the Petronas Floating LNG facility (PFLNG) Satu is a milestone for the oil and gas industry and for the Malaysian energy giant. Designed by consortium leader TechnipFMC and fabricated at the Daewoo Shipbuilding and Marine Engineering yard in South Korea, PFLNG Satu achieved the first-ever production of LNG offshore in December 2016. The 365-meter by 60-meter facility processes, produces and offloads LNG in situ, directly above natural gas reservoirs. FLNG allows the monetization of remote, marginal and stranded offshore gas fields that cannot be developed economically via conventional means.
Optimus Seventh Generation Secures Safety Contract with BP
Optimus Seventh Generation, an Aberdeen headquartered behavioral change consultancy, has completed the first phase of a yearlong project with BP to induct all crew and contractors into its Life Extension Project on the Eastern Trough Area Project (ETAP) in the Central North Sea. ETAP is one of the largest and most complex developments in the North Sea, comprising nine oil and gas reservoirs, six of which are operated by BP. The ETAP Life Extension Project (ELXP) will help secure the future of the fields until 2030 and beyond. The initial phase of the project…
BP Safety Contract for Optimus Seventh Generation
Optimus Seventh Generation, an Aberdeen headquartered behavioural change consultancy, has successfully completed the first phase of a yearlong project with BP to induct all crew and contractors into its Life Extension Project on the Eastern Trough Area Project (ETAP) in the Central North Sea. ETAP is one of the largest and most complex developments in the North Sea, comprising nine oil and gas reservoirs, six of which are operated by BP. The ETAP Life Extension Project (ELXP) will help secure the future of the fields until 2030 and beyond.
Bibby Offshore Clinches BP Contract
Bibby Offshore, a leading subsea services provider to the oil and gas industry, has been awarded a multimillion pound contract by BP to replace subsea infrastructure in the Central North Sea. The work is part of the $1billion Eastern Trough Area Project (ETAP) Life Extension Project announced by BP in the summer. ETAP is one of the largest and most complex developments in the North Sea, comprising nine oil and gas reservoirs, six of which are operated by BP. The ETAP Life Extension Project (ELXP) will help secure the future of the fields until 2030 and beyond.
UK’s Quantum Hubs Show Future Technology
Press releases- A packed audience at the Royal Society in London was given sight of the new technologies being developed at the UK’s four Quantum Technologies Hubs yesterday at the first Quantum Technology Showcase. Three hundred delegates from industry, business and government heard how the $411 million UK National Quantum Technologies Program (UKNQTP) was drawing the country’s research base together with industry, research funding bodies and other government agencies to accelerate the transition of new technologies from the laboratory to industry.
First Subsea Gas Compression Plant On Line
Statoil and its partners this week put the first subsea gas compression facility on line at Åsgard in the Norwegian Sea, Statoil announced. Subsea compression will add some 306 million barrels of oil equivalent to total output over the field’s life. This subsea technology milestone opens new opportunities in deeper waters, and in areas far from shore. Recovery from the Midgard reservoir on Åsgard will increase from 67 percent to 87 percent, and from 59 percent to 84 percent from the Mikkel reservoir. Overall, 306 million barrels of oil equivalent will be added.
GE, Statoil Announce Open Innovation Challenge Winners
GE and Statoil’s Sustainability Collaboration announced today the five winners of its inaugural Open Innovation Challenge that focused on addressing the use of sand in unconventional operations. Five Winning Technologies Address Alternatives for Sand in Shale Development: Sand plays a critical role in shale development and the hydraulic fracturing process. The proppant is mixed with water and injected into a formation to “stimulate” or “prop open” the tiny fractures, enabling oil and natural gas to flow freely. Well stimulation requires hundreds of truck trips to transport materials, which increases road wear and traffic as well as noise, dust and emissions.
Canada's New Brunswick Bans Fracking, Plans Study
Lawmakers in New Brunswick voted on Thursday to prohibit fracking in the eastern Canadian province, committing to study the controversial method of extracting oil and gas for one year before reconsidering the ban in 2016. The province's Liberal-led government said it will require five conditions be met before the moratorium is lifted. These include beefed-up environmental and health regulations, a plan for waste water disposal, consultations with aboriginal groups, a royalty structure, and the establishment of a "social license," which is the approval by local communities and stakeholders.
Highest OTC Award for Petrobras
For the third time, Petrobras is set to receive the highest award that an oil company can be given, bestowed by the Offshore Technology Conference (OTC) committee, based in Houston, USA. The OTC Distinguished Achievement Award for Companies, Organizations, and Institutions provides recognition for the set of technologies developed for oil and gas production in the pre-salt layer off the Brazilian coast, where the company achieved a new daily production record on December 21, 2014, extracting 713,000 barrels of oil. The awards ceremony will take place in May in Houston.
Dana Gas Plans for Long Term Growth in Egypt
Successfully Bids for Two New Nile Delta Concessions. Dana Gas is pleased to announce that its wholly owned subsidiary, Dana Gas Egypt, has been awarded the North El Salhiya (Block 1) and El Matariya (Block 3) onshore Concessions in the Nile Delta as part of the 2014 EGAS bidding round held recently in Egypt. The Company will operate the Block 1 Concession Area on a 100% basis. It is expected that exploration success and future production from conventional gas reservoirs in the Block, utilizing Dana Gas Egypt's existing infrastructure, will extend the Company's highly successful gas production business onshore the Nile Delta.
The Big One: Russia's Bazhenov Shale
As U.S. and EU policymakers have imposed targeted sanctions on Russian individuals and firms in response to the crisis in Ukraine, Western companies have sought to insulate their own projects from the political imbroglio and continue developing the country's vast oil and gas resources. Exxon Mobil and Shell have joint ventures with Rosneft and Gazprom respectively to explore and produce shale oil and gas from beneath the swampy plains of Western Siberia and both want to be allowed to continue operating there. It's easy to see why. The West Siberian basin is the largest petroleum basin in the world…
Shale Gas Tech on Display in Aberdeen
New technologies designed to support the development of shale gas reservoirs in the U.K. will be on display at Unconventional Gas Aberdeen 2014 this month. Major service companies Schlumberger and Halliburton are among the exhibitors that will be showcasing technologies focused on direction drilling, reservoir characterization, cementing and stimulation at Aberdeen Exhibition and Conference Centre on 25 and 26 March. The equipment on show tackles a range of issues including well placement, reservoir optimization and well integrity to enable the cost effective production of shale gas in the UK.
