DOCSLIB.ORG

Oil & Gas Journal

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Oil & Gas Journal MAR. 4, 2019 | USD 15 International Petroleum News and Technology | www.ogj.com CAPITAL SPENDING UPDATE US OLEFINS UKRAINE OFFERS NEW PSAS IEA UPDATES EOR PROJECTS, OUTPUT IMPROVING NAPHTHA CRACKING MARCELLUS-UTICA OPTIONS 190304OGJc1-c5.indd 1 2/26/19 3:08 PM Oilwell Supply North Sea Cables Norge AS Texas Mill Supply United Distribution Capital Valves National Supply Wallace Company Machine Tools Supply Bovaird Supply MacLean Electrical Union Supply Wilson Supply Midco Odessa Pumps & Equipment Republic Supply Continental EMSCO Highland Pump & Supply Colorado Valve & Controls DOSCO/TS&M Van Leeuwen USA Texas Oil Works CE Franklin HOMCO Supply Mannesmann International Alloys Power Service Inc. OAASIS Group Rye Supply Tyler Dawson Energy Delivered.™ Dupré Supply Challenger Industries, Inc. Since 1862, a diverse legacy of quality companies has gathered strength and now Mid-Valley Supply S&D Supply stands as the single global source for energy industry products, market-focused applications Mid-Continent Supply and total supply chain solutions. DNOW has the unmatched scope and scale to never stop delivering value so clients can accelerate their businesses and surpass their goals. DISTRIBUTIONNOW.COM © 2019 DistributionNOW. All rights reserved. DistNow_OGJ_190304 1 2/18/19 10:50 AM 190304OGJc1-c5.indd 2 2/26/19 3:09 PM CONTENTS Mar. 4, 2019 Volume 117.3 GENERAL INTEREST SPECIAL REPORT CAPITAL SPENDING UPDATE IEA: Crude oil quality matters amid lower supply Growth of US upstream 26 spending to decelerate in 2019 Conglin Xu Queensland’s CSG-LNG plants unlikely to reach full capacity 20 Rick Wilkinson 27 Capital investment continues BP lets rig contract for Ironbark wildcat to increase in Latin America off Western Australia Siddhartha Sen Rick Wilkinson 28 24 APLNG to buy Ironbark coal seam gas prospect from Origin Energy Rick Wilkinson 28 Aramco forms combine for $10-billion Chinese refining complex Robert Brelsford 29 Meridian Energy plots grassroots refinery for Permian basin Robert Brelsford 29 REGULAR FEATURES INTRODUCING NAPE: Croatia opens licensing round in NEWSLETTER 6 Dinarides onshore area LETTERS/CALENDAR 12 OIL & GAS Paula Dittrick JOURNALLY SPEAKING 16 30 EDITORIAL 18 COMMUNITY, MAR. 4, 2019 | USD 15 COVER SERVICES/SUPPLIERS 56 an Oil & Gas Journal online International Petroleum News and Technology | www.ogj.com Devon Energy Corp. plans by yearend to sell STATISTICS 58 service enabling you to CAPITAL SPENDING UPDATE or spin-off its heavy oil properties in Canada MARKET CONNECTION 61 comment on articles, US OLEFINS and gas production in the Barnett shale to ADVERTISERS INDEX 63 communicate with OGJ focus on US oil. The moves will help Devon EDITOR’S PERSPECTIVE/ editors, and meet meet a cost-cutting target of at least $780 specialists in your field. WATCHING GOVERNMENT 64 million/year by 2021. Concentrating on US UKRAINE OFFERS NEW PSAS IEA UPDATES EOR PROJECTS, OUTPUT oil, Devon expects to achieve production For instructions and to sign IMPROVING NAPHTHA CRACKING MARCELLUS-UTICA OPTIONS growth of 13-18% in 2019 with 10% less up, go to upstream capital than in 2018, self-funded www.ogj.com/ at an oil price of $46/bbl if service and sup- oilandgascommunity. ply prices don’t increase. Photo from Devon Energy. 190304OGJ001-005.indd 1 2/28/19 12:22 PM MARCH 5–7, 2019 | SAN ANTONIO, TX USA HENRY B. GONZALEZ CONVENTION CENTER | WWW.SUBSEATIEBACKFORUM.COM Owned & Presented by: Supported by: Hosted by: Produced by: SSTBDev_Petro_180219 1 2/19/18 2:55 PM 190304OGJ001-005.indd 2 2/28/19 12:22 PM UKRAINE LICENSING ROUNDS FIG. 1 BELARUS POLAND Dnipro-Donets basin RUSSIA US NGPL PRODUCTION FIG. 1 Pre-Carpathian basin 2017 7 Kharkiv History Projections Lviv UKRAINE 6Rollava Ivano- Frankivsk 5 East Carpathian MountainsChernivtsi 4 Southwest MOLDOVA 3 Million b/d 2019 PSAs 2019 licenses Kherson 2 North Black Sea basin31 Valid contracts:* 49 Other US Exploration Odessa 1 ROMANIA Black Sea Azov Sea E&P Production T E C H N O L O G Y . 0 PSA 2000 2010 2020 2030 2040 2050 *Exploration licenses cover 5 years onshore, 10 years offshore, combined E&P licenses cover 20 years onshore, 25 years offshore, productionSource: licenses US cover Energy 20 Information years. Administration Source: GoUkraineNow EXPLORATION & DEVELOPMENT DRILLING & PRODUCTION PROCESSING TRANSPORTATION Ukraine outlines latest IEA updates EOR project US olefins industry turns US DOE details concessions, production- data, doubling output to face global market Marcellus-Utica sharing agreements forecast Dan Lippe ethane, petrochemical Roman Opimakh 34 36 options 31 49 In-depth phase characterization improves naphtha cracker emulsion breaking Fabrice Cuoq Jérôme Vachon 44 MARCH 5–7, 2019 | SAN ANTONIO, TX USA HENRY B. GONZALEZ CONVENTION CENTER | WWW.SUBSEATIEBACKFORUM.COM Owned & 44 Presented by: Supported by: Hosted by: Produced by: SSTBDev_Petro_180219 1 2/19/18 2:55 PM 190304OGJ001-005.indd 3 2/28/19 12:22 PM HRM FOR THE OIL & GAS INDUSTRY OGJ® In Houston Steven Tobias Hess Corp., Houston Shree Vikas ConocoPhillips Co., Houston Vice President and Group Publisher Clark White Targa Resources Inc., Houston Paul Westervelt, [email protected] Colin Woodward Woodward International Ltd., Durham, UK Editor Bob Tippee, [email protected] Managing Editor-News Steven Poruban, Editorial Offices [email protected] Managing Editor-Technology Christopher E. Oil & Gas Journal Smith, [email protected] 1455 West Loop South, Suite 400, Upstream Technology Editor Paula Dittrick, Houston, TX 77027 [email protected] Tel 713.621.9720; Fax 713.963.6285 Downstream Technology Editor Robert Brelsford, www.ogjonline.com [email protected] Senior Editor-Economics Conglin Xu, Corporate Officers [email protected] President and Chief Executive Officer Editor-News Mikaila Adams Mark C. Wilmoth [email protected] Executive Vice President, Editorial Assistant Vannetta Dibbles, Corporate Development and Strategy, [email protected] Jayne A. Gilsinger Chief Operations Officer Pennwell Media, In Tulsa Robert Brighouse Statistics Editor Laura Bell, Subscriber Service [email protected] Art Director Clark Bell, Knowledge Marketing, PO Box 47570, [email protected] Plymouth, MN 55447 USA Creative Director Jason Blair, USA inquires: 800-869-6882 [email protected] International inquires: 512-982-4277 410 Pages/Hardcover/2016 Senior Illustrators Mike Reeder, Chris Hipp Email: [email protected] Production Director Charlie Cole Senior Audience Development Manager Production Manager Shirley Gamboa Emily Martin, [email protected] Ad Services Manager Cary Shipley Custom Article Reprints In Washington Rusty Vanderpool Washington Editor Nick Snow, [email protected] Order Your Copy Today! [email protected] Tel 703.533.1552 Office (918) 831-9144 Editorial Advisory Board Pat Dennler Motiva Enterprises LLC, Port PennWell Corporate Headquarters An in-depth look at human Arthur, Tex. Doug Elliot Bechtel Hydrocarbon Technology 1421 S. Sheridan Rd., Tulsa, OK 74112 resource management for all aspects Solutions/IPSI (Advisor), Houston of the oil and gas sector. Managing Fernando Feitosa de Oliveira Pasadena Refining System Inc., Pasadena, Tex. Human Resources in the Oil & Gas Andy Flower Independent Consultant, Industry will help: Caterham, UK Michelle Michot Foss Bureau of Economic ï Guide managers in the oil and gas Geology’s Center for Energy Economics, The University of Texas (Houston) sector on how to better manage Michael Lynch Strategic Energy & Economic their employees Research Inc., Amherst, Mass. Tom Miesner Pipeline Knowledge & Develop- ï Explain ways to deal eff ectively with ment, Houston Ralph Neumann Badger Midstream Energy LP Member Alliance for Audited Media & American the complexities of globalization Kent F. Perry RPSEA, Houston business Media Ignacio Quintero Chevron Pipe Line Co., ï Describe numerous ways to foster a Houston safety culture Andrew J. Slaughter Deloitte Services LP, Houston John Thorogood Drilling Global Consultant LLP, ï Show how eff ective management Insch, Scotland of human resources can improve project success ï Explain how human resources will Oil & Gas Journal® (ISSN 0030-1388). Oil & Gas Journal is published 12x per year - monthly the first Monday of each month in print and other Mon- recruit and train the next wave of days in digital form by PennWell® Corporation, 1421 S. Sheridan Rd., Tulsa, OK 74112. Periodicals postage paid at Tulsa, OK 74112 and at additional industry workers and leaders during mailing offices. SUBSCRIPTION PRICES: in the US: 1 year $112; Canada: 1 year $122; all other countries: 1 year $173. Digital Premium, worldwide: 1 year $89. Single copies are $15 each. Discounts are available for group subscriptions and 2-year or 3-year terms. Inquire within to: OGJ@kmpsgroup. the ìGreat Crew Changeî com for additional rates. Send payments to: Oil & Gas Journal, PO Box 4362, Chicago, IL 60680-9969. These rates apply only to individuals holding responsible positions in the petroleum industry. Publisher reserves the right to refuse non-qualified subscriptions. POSTMASTER: Send address cor- rections to Oil & Gas Journal, PO Box 47570, Plymouth, MN 55447, USA. Oil & Gas Journal and OGJ is a registered trademark. ©PennWell Corporation 2019. All rights reserved. Return Undeliverable Canadian Addresses to: P.O. Box 1632, Windsor, ON N9A 7C9. Oil & Gas Journal and OGJ is a registered trademark. © PennWell Corporation 2019. All rights reserved. Reproduction in whole or in part without permission is prohibited. We make portions of our subscriber list available to carefully screened companies that offer products and services that may be important for your work. If you do not want to receive those offers and/or information via direct mail, please let us know by contacting us at List Services Oil & Gas Journal, 1421 S. Sheridan www.pennwellbooks.com Road, Tulsa OK, 74112. Printed in the USA. GST No. 126813153. Publications Mail Agreement no. 40612608. 800-752-9764 SinoCat_OGJ_190304 1 2/21/19 10:03 AM 190304OGJ001-005.indd 4 2/28/19 12:23 PM HRM13v_Petro_160226 1 2/26/16 2:30 PM SinoCat_OGJ_190304 1 2/21/19 10:03 AM 190304OGJ001-005.indd 5 2/28/19 12:23 PM Mar.
Load more

Recommended publications
  • Nigeria Last Updated: May 6, 2016
    Country Analysis Brief: Nigeria Last Updated: May 6, 2016 Overview Nigeria is currently the largest oil producer in Africa and was the world's fourth-largest exporter of LNG in 2015. Nigeria’s oil production is hampered by instability and supply disruptions, while its natural gas sector is restricted by the lack of infrastructure to commercialize natural gas that is currently flared (burned off). Nigeria is the largest oil producer in Africa, holds the largest natural gas reserves on the continent, and was the world’s fourth-largest exporter of liquefied natural gas (LNG) in 2015.1 Nigeria became a member of the Organization of the Petroleum Exporting Countries (OPEC) in 1971, more than a decade after oil production began in the oil-rich Bayelsa State in the 1950s.2 Although Nigeria is the leading oil producer in Africa, production is affected by sporadic supply disruptions, which have resulted in unplanned outages of up to 500,000 barrels per day (b/d). Figure 1: Map of Nigeria Source: U.S. Department of State 1 Nigeria’s oil and natural gas industry is primarily located in the southern Niger Delta area, where it has been a source of conflict. Local groups seeking a share of the wealth often attack the oil infrastructure, forcing companies to declare force majeure on oil shipments (a legal clause that allows a party to not satisfy contractual agreements because of circumstances beyond their control). At the same time, oil theft leads to pipeline damage that is often severe, causing loss of production, pollution, and forcing companies to shut in production.
    [Show full text]
  • Middle East Oil Pricing Systems in Flux Introduction
    May 2021: ISSUE 128 MIDDLE EAST OIL PRICING SYSTEMS IN FLUX INTRODUCTION ........................................................................................................................................................................ 2 THE GULF/ASIA BENCHMARKS: SETTING THE SCENE...................................................................................................... 5 Adi Imsirovic THE SHIFT IN CRUDE AND PRODUCT FLOWS ..................................................................................................................... 8 Reid l'Anson and Kevin Wright THE DUBAI BENCHMARK: EVOLUTION AND RESILIENCE ............................................................................................... 12 Dave Ernsberger MIDDLE EAST AND ASIA OIL PRICING—BENCHMARKS AND TRADING OPPORTUNITIES......................................... 15 Paul Young THE PROSPECTS OF MURBAN AS A BENCHMARK .......................................................................................................... 18 Michael Wittner IFAD: A LURCHING START IN A SANDY ROAD .................................................................................................................. 22 Jorge Montepeque THE SECOND SPLIT: BASRAH MEDIUM AND THE CHALLENGE OF IRAQI CRUDE QUALITY...................................... 29 Ahmed Mehdi CHINA’S SHANGHAI INE CRUDE FUTURES: HAPPY ACCIDENT VERSUS OVERDESIGN ............................................. 33 Tom Reed FUJAIRAH’S RISE TO PROMINENCE ..................................................................................................................................
    [Show full text]
  • America's Energy Corridor Year Event 1868 Louisiana's First Well, an Exploratory Well Near Bayou Choupique, Hackberry, LA Was a Dry Hole
    AAmmeerriiccaa’’ss EEnneerrggyy CCoorrrriiddoorr LOUISIANA Serving the Nation’s Energy Needs LOUISIANA DEPARTMENT OF NATURAL RESOURCES SECRETARY SCOTT A. ANGELLE A state agency report on the economic impacts of the network of energy facilities and energy supply of America’s Wetland. www.dnr.state.la.us America’s Energy Corridor LOUISIANA Serving the Nation’s Energy Needs Prepared by: Louisiana Department of Natural Resources (DNR) Office of the Secretary, Scott A. Angelle Technology Assessment Division T. Michael French, P.E., Director William J. Delmar, Jr., P.E., Assistant Director Paul R. Sprehe, Energy Economist (Primary Author) Acknowledgements: The following individuals and groups have contributed to the research and compilation of this report. Collaborators in this project are experts in their field of work and are greatly appreciated for their time and assistance. State Library of Louisiana, Research Librarians U.S. Department of Energy (DOE) Richard Furiga (Ret.) Dave Johnson Ann Rochon Nabil Shourbaji Robert Meyers New Orleans Region Office Louisiana Offshore Oil Port (LOOP) Louisiana Offshore Terminal Authority (LOTA) La. Department of Transportation and Development (DOTD) Louisiana Oil Spill Coordinator’s Office, Dr. Karolien Debusschere ChevronTexaco and Sabine Pipeline, LLC Port Fourchon Executive Director Ted Falgout Louisiana I Coalition Executive Director Roy Martin Booklet preparation: DNR Public Information Director Phyllis F. Darensbourg Public Information Assistant Charity Glaser For copies of this report, contact the DNR Public Information Office at 225-342-0556 or email request to [email protected]. -i- CONTENTS America’s Energy Corridor LOUISIANA Serving the Nation’s Energy Needs……………………………………………... i Contents…………………………………………………………………………………………………………………………………………….. ii Introduction………………………………………………………………………………………………………………………………………… iii Fact Sheet………………………………………………………………………………………………………………………………………….
    [Show full text]
  • BP Executive: True Test of Downturn Will Come During Recovery
    2016.otcnet.org Tuesday, May 3 | Houston, Texas | THE OFFICIAL 2016 OFFSHORE TECHNOLOGY CONFERENCE NEWSPAPER | DAY 2 BP Executive: True Test Fiery Ice of Downturn Will Come Takes Center During Recovery Stage n Leading experts to discuss advances n Energy demand is expected to increase by one-third by 2035, but oil and gas in E&P testing of gas hydrates during companies need to start looking at hydrocarbons as products to streamline. Wednesday luncheon. BY DARREN BARBEE “It’s how we will improve through BY JENNIFER PRESLEY the productivity of our oil sector and magine the oil and gas world as an assembly line, put costs on a downward curve.” t is the ice that burns, and it is more than an industrial Ichurning out cubes of oil and natural gas. Assem- For instance, BP’s Mad Dog Ihazard plugging pipelines. It goes by many names—fire bly lines are efficient. Changes mean swapping out Phase 2 project in the Gulf of Mex- in the ice or fiery ice being two of the more popular descrip- one part—not the entire system. Industrial and avia- ico went through about $10 billion tors. Gas hydrate is the curious clathrate formed by natural tion companies typically cut costs annually. But on the in cost trims, Looney said. gas and water. Found in the Arctic and in the deepwater hydrocarbon conveyor belt, cost efficiency doesn’t seem “This was a $20 billion project, continental margins around the globe, the energy poten- to follow any logical pattern. Bernard Looney and we’ve brought it down to under tial of this other unconventional hydrocarbon is keeping “In oil and gas, specifically the upstream, costs as we $10 billion with expected returns researchers busy unlocking its secrets to better understand know tend to follow oil price and in general have trended improved despite a lower oil price,” he said.
    [Show full text]
  • Ice Crude Oil
    ICE CRUDE OIL Intercontinental Exchange® (ICE®) became a center for global petroleum risk management and trading with its acquisition of the International Petroleum Exchange® (IPE®) in June 2001, which is today known as ICE Futures Europe®. IPE was established in 1980 in response to the immense volatility that resulted from the oil price shocks of the 1970s. As IPE’s short-term physical markets evolved and the need to hedge emerged, the exchange offered its first contract, Gas Oil futures. In June 1988, the exchange successfully launched the Brent Crude futures contract. Today, ICE’s FSA-regulated energy futures exchange conducts nearly half the world’s trade in crude oil futures. Along with the benchmark Brent crude oil, West Texas Intermediate (WTI) crude oil and gasoil futures contracts, ICE Futures Europe also offers a full range of futures and options contracts on emissions, U.K. natural gas, U.K power and coal. THE BRENT CRUDE MARKET Brent has served as a leading global benchmark for Atlantic Oseberg-Ekofisk family of North Sea crude oils, each of which Basin crude oils in general, and low-sulfur (“sweet”) crude has a separate delivery point. Many of the crude oils traded oils in particular, since the commercialization of the U.K. and as a basis to Brent actually are traded as a basis to Dated Norwegian sectors of the North Sea in the 1970s. These crude Brent, a cargo loading within the next 10-21 days (23 days on oils include most grades produced from Nigeria and Angola, a Friday). In a circular turn, the active cash swap market for as well as U.S.
    [Show full text]
  • Naftogaz of Ukraine 2014 Annual Report
    NAFTOGAZ OF UKRAINE 2014 ANNUAL REPORT New Ukraine Europe New rules Market Transparency Naftogaz Reform Europe New Ukraine Europe New rules Naftogaz Market Europe New UkraineNew Transparency Reform Ukraine Naftogaz New rules Europe Naftogaz New Ukraine Market Naftogaz Europe New Ukraine Reform Transparency Naftogaz EuropeReform Europe Naftogaz New Ukraine New rules Transparency New rules Transparency New rules Europe Transparency New Ukraine Naftogaz New rules Europe Market Reform Reform Naftogaz Market Reform TransparencyNew rules Reform Europe New rules Market Reform Transparency New Ukraine Transparency Transparency Naftogaz New Ukraine Naftogaz New rules Reform NaftogazTransparency Market New rules Reform Europe Reform Naftogaz New rules Europe Naftogaz New Ukraine Transparency Market Transparency New rules Naftogaz Transparency Reform Europe New rules Market New Ukraine New Ukraine Transparency New rules New rules Market Market New Ukraine Europe Transparency Reform Europe New Ukraine New Ukraine Naftogaz Transparency New rules Reform New rules Naftogaz New rules New Ukraine Reform Market Europe New rules ReformNaftogaz Transparency Europe Reform Naftogaz Transparency Reform MarketNaftogaz Reform Naftogaz New rules Naftogaz New Ukraine Market Market Naftogaz Transparency Transparency Reform Europe Transparency New rules New rules New rules Reform New Ukraine Market Transparency New rules Naftogaz Market Europe Changing for the future Ukraine’s gas transmission Entry capacity: EUROPE’S LARGEST GAS MARKETS, 2014, bcm NAFTOGAZ AT A
    [Show full text]
  • The Impact of the U.S Fracking Boom on the Price of Oil and on Arab Oil Producers
    The Impact of the U.S Fracking Boom on the Price of Oil and on Arab Oil Producers Lutz Kilian University of Michigan CEPR Background ● Shale oil production became possible because of technological innovation (horizontal drilling, hydraulic fracturing (fracking), microseismic imaging). ● The rapid expansion of U.S. shale oil production was stimulated by the high price of conventional crude oil after 2003, which made this new technology competitive. ● Since then efficiency gains in shale oil production have lowered its cost, allowing continued production at much lower oil prices. ● Because the price of oil has remained low since 2015, shale oil producers are experiencing increased operating losses and financial stress. The Role of Refineries ● Crude oil is being consumed by refineries that turn crude oil into refined products such as gasoline, diesel, heating oil, jet fuel and heavy fuel oil. ● Not all refineries are alike. Their technical configuration determines which type of crude oil they can process. ● Changing an existing configuration is costly. The Refining Industry in Transition A few years ago, the global refining industry expected a growing shortage of light sweet crude oil worldwide: 1. Refiners along the Texas Gulf Coast invested in new technology that allowed them to become the world leader in processing heavier crudes. This allowed them to process lower priced crudes imported from Saudi Arabia, Venezuela and Mexico. 2. Refiners along the East Coast began to shut down existing refineries for light sweet crude oil in anticipation of a growing shortage of light sweet crude oil. The Glut That No One Saw Coming After 2010 shale oil was shipped in ever increasing quantities from the interior of the country to the U.S.
    [Show full text]
  • Sierra Leone, the Under-Explored Conjugate
    SPECIAL TOPIC: RESERVOIR MONITORING Sierra Leone, the under-explored conjugate Ben Sayers1, David Contreras1 and Ahmed Tejan Bah2 give an overview on the oil and gas prospectivity of Sierra Leone. Introduction 2200 km margin only 20 wells have been drilled in water depths Sierra Leone is a West African country situated between the greater than 500 m. Using the analogy from equatorial African Republic of Guinea and the Republic of Liberia. The country has discoveries, it appears that the highest potential may be in the approximately 8 million people who speak the national language of deep waters on the slope and continental rise of the Brazilian English, although many local dialects derived from a tribal past are margin.’ (GeoExpro, 2011) still spoken. The country has a dense tropical rainforest and wet- Fast-forwarding to 2021, we are now looking for the dis- land environment making it a host to a great diversity of flora and coveries along the northern South American coastline to see fauna, as well as sandy white beaches. The country was originally where the highest potential could lie in West Africa. Sierra named Serra Leoa, which is Portuguese for ‘Lioness Mountains’, Leone, which has more than 400 km of Atlantic coastline can referring to the Lion Mountains near the capital of Freetown. be tectonically-reconstructed back to fit with the Guyana Basin. Following a study in 2016, about 12% of the population of Sierra Obviously, the exploration success in that region has led to truly Leone had access to electricity, of that 12%, 10% was in the capital world class oil discoveries (9 Bbbls at the date of publication, Freetown, from the remaining 90% of the country, which equates but with ever-growing satellite discoveries could be as large as to 7.2 million people, only 2% have access to grid-fed electricity 15 Bbbls), which should be waiting in their eastern twin in Africa.
    [Show full text]
  • BP Mad Dog 2
    Mad Dog 2 production pipeline end terminal BP Mad Dog 2 OUR PROJECT Field Information VALUES CLIENT Project at a glance The Mad Dog field is located approximately 190 miles offshore in the Southern Green BP The contract scope awarded to Subsea 7 covers engineering, procurement, Canyon area of the Gulf of Mexico (GOM). Mad Dog is a deep-water field in a water depth construction and installation (EPCI) of the subsea umbilicals, risers and flowlines ranging from approximately 1,370m - 2,200m. Oil reserves have been discovered within Safety (SURF) and associated subsea architecture. the existing Mad Dog field that are outside the reach of the existing Spar drilling rig and Schlumberger OneSubsea, Subsea 7's Subsea Integration Alliance partner, has been therefore new subsea and surface facilities are required to exploit the new reserves. awarded the Subsea Production Systems contract. Source: Modified from BP.com Full project information overleaf Integrity Highlights • First substantial project in the US • Multi-centre project with project Sustainability to use Subsea 7’s Swagelining management and engineering polymer lining technology. taking place in Houston, Texas with • First project to install in-house support from Subsea 7’s Global Performance designed steel lazy wave riser Project Centres in London and Paris. systems. Pipeline fabrication and Liner support supplied from Glasgow, Scotland. • The lazy wave risers will be wet stored onto the seabed and then • Delivered in close collaboration with Collaboration recovered and hung off onto Schlumberger OneSubsea, Subsea 7's the FPU following tow-out and Subsea Integration Alliance partner. mooring. Innovation Our Differentiators Culture Creativity Relationships Reliability Solutions www.subsea7.com© Subsea 7, February 2019.
    [Show full text]
  • Ukrainian M&A Review 2018
    Ukrainian M&A Review 2018 February 2019 KPMG in Ukraine kpmg.ua Ukrainian M&A Review 2018 1 Contents Overview 2018 2019 in Review Outlook 04 08 14 Methodology Appendices Continued reform is the key to FDI 18 Crossing the M&A tax border 22 In good times and bad 24 A long road to privatisation 26 28 29 © 2019 KPMG. All rights reserved. 2 Ukrainian M&A Review 2018 Introduction Despite global economic headwinds and the inevitable uncertainty the elections will bring, we remain cautiously optimistic that provided government policy remains consistent and fiscally responsible, Ukrainian M&A will deliver a third consecutive year of growth in 2019, albeit probably in low single-digits. Ukrainian M&A recorded a second Ukraine’s economic recovery Since launching the first Ukrainian consecutive year of double-digit continued in 2018, with GDP growth M&A Review, we have invested growth in 2018, with 80 transactions to be around 3.3 per cent for the heavily into our Deal Advisory announced, representing a 19 per year. Although sluggish at times, the capabilities to ensure that we remain cent increase over the previous government made further progress at the forefront of developments on year, and a total of USD1.8 billion with its reform agenda during 2018, the local market, so that we are able invested, up by 78 per cent on 2017. most notably by passing legislation to help our clients to successfully to implement a functioning anti- execute their M&A strategy. We Although domestic buyers took corruption court. Agreement of the continue to responsibly promote an even firmer hold of Ukrainian IMF Stand-by Agreement at the end Ukraine as an investment destination M&A in 2018, accounting for around of 2018, should provide investors and to play our part in the sustained two-thirds of deal value and deal with further reassurance about the development and transformation of volume, international investors economic outlook for the country.
    [Show full text]
  • Subsea Sampling Systems MARS Multiple Application Reinjection System Configurations
    Subsea Sampling Systems MARS multiple application reinjection system configurations APPLICATIONS Almost all technical and economic studies in the oil industry require an understanding of the reservoir ■ Production monitoring fluids. MARS* multiple application reinjection system sampling technology enables the capture of ■ Reservoir modeling and management a representative, uncontaminated sample from multiphase flow, in which the sample has the same molecules in the same proportions as the flow at the sampling point where all three phases are ■ Flow assurance in equilibrium. ■ Well intervention ■ Each phase is enriched and captured individually to collect sufficient volume of sample from ■ Subsea processing strategically chosen phase-rich sampling points. ■ EOR ■ No pressure or temperature drop should occur during sampling to maintain equilibrium BENEFITS between phases. ■ Enables representative subsea sampling ■ Each phase is captured and physically or mathematically recombined for reservoir fluids properties. throughout life of field ■ Mitigates risk and enhances flow assurance management ■ Optimizes multiphase flowmeter calibration and performance ■ Increases production and recovery rates ■ Reduces capex FEATURES ■ Flexibility for integration into subsea hardware and for various sampling applications ■ Three-phase representative sampling from multiple wells in a single dive ■ Phase detection and enrichment ■ Complete chain of custody throughout sample journey ■ Proven technology ■ Ideal solution for greenfield architecture ■ Retrofit
    [Show full text]
  • Pre-Conference Ice Breaker, Monday 22Th October
    Subsea Controls Down Under Conference 2018 Post-event Report By Ian Wilson, SUT Perth Branch Committee Member Pre-Conference Ice Breaker, Monday 22th October At 6pm delegates boarded the Crystal Swan for a cruise on the Swan river. Rob Bush of Yokogawa Australia opened the conference with a welcome address. Everyone enjoyed an evening of networking, canapes and drinks before disembarking at 9pm for some rest. SCDU 2018 Post-event Report 1 of 24 | P a g e Day ONE Tuesday 23rd October 2018 0915 Welcome by Rex Hubbard, SUT Perth Branch Vice Chairman Rex acknowledged our Major Sponsors: Viper Innovations and Woodside Energy, Ice Breaker sponsor, Yokogawa Australia and Event Partners, One Subsea, Pressure Dynamics and Shell Australia. It was mentioned we had 106 participants from 8 different countries and 20% from Opcos. The Conference Theme is “Technology, Reliability & Availability through Collaboration” 0925 Welcome to Country by Irene Stainton, INPEX SCDU 2018 Post-event Report 2 of 24 | P a g e Session A - Chaired by Ross Hendricks, TechnipFMC 0935 Keynote presentation by Miranda Taylor, CEO NERA “Cluster isn’t a dirty word: How innovative business models are changing the collaboration in landscape across Australia’s energy resources sector” Australia does not have a track record for commercialization of new technology, NERA want to change that. Australia needs a cultural change to gain the benefits of collaboration around innovation. Two innovation drivers are AI and big data. Australia does great things, but we fail to co-ordinate these
    [Show full text]