A Barrel Fulll Archive

31 Jul 2020 EnQuest PLC (together with its subsidiaries, ‘EnQuest’), an independent oil and gas production and development company listed on the London and Stockholm stock exchanges (ENQ.L and ENQ.ST), is pleased to announce it has signed a sale and purchase agreement (‘SPA’) with Equinor to purchase a 40.81% equity interest in the Bressay oil field . Completion of the transaction is subject to the satisfaction of a number of conditions precedent. Under the terms of the SPA and subject to all partner approvals, EnQuest will also assume operatorship of the licences following the plugging and abandonment of the 3/28-1 well by Equinor. The initial consideration is £2.2 million payable as a carry against 50% of Equinor’s net share of costs from the point EnQuest assumes operatorship. EnQuest will also make a contingent payment of $15 million following OGA approval of a Bressay field development plan. There are no gross assets or profit before tax associated with the assets. Highlights 40....

Jan 31, 2017 Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to $3.8bn, including an initial consideration of $3.0bn and a payment of up to $600m between 2018-2021 subject to commodity price, with potential further payments of up to $180m for future discoveries. The package of assets consists of Shell’s interests in Buzzard , Beryl , Bressay , Elgin-Franklin , J-Block , the Greater Armada cluster , Everest , Lomond and Erskine , plus a 10% stake in Schiehallion . Based on the initial consideration received, Shell expects to record an accounting gain on sale against the values of both the Shell and former BG assets included in the package. The decommissioning costs associated with the package are currently expected to be $3.9bn, of which Shell will retain a fixed liability of $1bn and Chrysaor will assume the remaining liability. The deal is subject to partner and regulatory approvals, with completion expected in the second half of 2017. The tr...

11 October 2021 Wood, the global consulting and engineering company, has secured two Front End Engineering and Design (FEED) contracts to support Beach Energy’s Trefoil field development opportunity in the Bass Basin. The potential Trefoil Project is a subsea development at the Trefoil field, with a tie-back to the Yolla Platform . Wood will provide FEED services for both the platform topside modifications, and the subsea and pipeline system that would maximise recovery and extend the lifecycle of the assets. Ralph Ellis, President of Wood’s Operations business in Australia, said: “We are delighted to continue our relationship with Beach Energy to deliver this strategic development. The contract wins demonstrate our strength in engineering and design as well as our detailed understanding of complex offshore brownfields projects and decades of experience in Australia including the Bass Basin and Otway development specifically.” Enda O’Sullivan, Vice President of Consulting at Wood, sa...

 30-Dec-2018 On Sunday, December 30, 2018, the "Maria Energy" newly built LNG Tanker, owned by the Greek shipping company “Tsakos Group”, delivered a 168.000 m3 (1.772.400Mw) spot freight LNG cargo to the Revithoussa Liquefied Natural Gas (LNG) Terminal Station , imported to Greece, following an agreement between Cheniere and DEPA. The first US LNG cargo (coming from shale gas) imported to Greece and the first one to be delivered from Cheniere’s newest LNG Terminal Station in Corpus Christi, Texas, was unloaded in the Revithoussa LNG Terminal Station, using for the first time DESFA’s newest LNG tank of 95.000-m3 storage capacity, which was recently inaugurated by Mr. George Stathakis, Greek Minister for the Environment & Energy. It is estimated that it will take approximately 27hrs for the “Maria Energy” to unload its cargo in all tanks on the island, while it is worth mentioning this is, also, the first time a vessel of this size unloads LNG cargo in Revithoussa. The Re...

 Oct 01 2020 SBM Offshore is pleased to announce that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Payara development project located in the Stabroek block in Guyana. Under these contracts, SBM Offshore will construct, install and then lease and operate the Prosperity FPSO for a period of up to two years, after which the FPSO ownership and operation will transfer to EEPGL. The award follows completion of front-end engineering and design studies, completion of the multi-purpose hull, receipt of requisite government approvals and the final investment decision on the project by ExxonMobil and block co-venturers. The Payara development is the third development within the Stabroek block, circa 200 kilometers offshore Guyana. EEPGL is the operator and holds a 45 percent interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petrol...

12 Aug 2021 The hull for the Prosperity FPSO has arrived safely at the Keppel yard in Singapore. Now, the next phase of construction will commence, with the topside modules being integrated at the yard.  Despite the various challenges posed by the ongoing global pandemic, the unit remains on schedule to be completed in 2024. Drydock activities are scheduled to begin in the 4th quarter of this year, with the installation of major structures that will support the Mooring and Subsea Risers. In keeping the standardization philosophy that guides the Fast4Ward® program, the Prosperity FPSO by in large replicates the design used for the Liza Unity FPSO. This approach has showcased the value of Fast4Ward®, ensuring that the final product is delivered faster to our client ExxonMobil. Once installed, the vessel is intended to produce roughly 220,000 barrels of oil per day and will be able to store around 2 million barrels of crude oil. Once completed, Prosperity will join her sister vessel...

Apr. 18, 2019 Hess Corporation (NYSE: HES) today announced a new discovery offshore Guyana at the Yellowtail-1 well , marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated gross discovered recoverable resource of more than 5.5 billion barrels of oil equivalent on the Stabroek Block. “Yellowtail marks the 13th significant discovery on the Stabroek Block,” said CEO John Hess. “As the fifth discovery in the greater Turbot area, it underpins another major development hub.” Yellowtail-1 encountered approximately 292 feet (89 meters) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,445 feet (5,622 meters) in 6,046 feet (1,843 meters) of water. The well is located approximately 6 miles (10 kilometers) northwest of the Tilapia discovery. The Noble Tom Madden began drilling the Yellowtail well on March 27. It will next drill the Hammerhead-2 well. Exploration and development activities continue at other loc...

Sep. 8, 2020 Hess Corporation (NYSE: HES) today announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent. Redtail-1 encountered approximately 232 feet (70 meters) of high quality oil bearing sandstone and was drilled in 6,164 feet (1,878 meters) of water. The well is located approximately 1.5 miles (2.5 kilometers) northwest of the Yellowtail discovery and is the ninth discovery in the southeast area of the block. In addition to the Redtail-1 discovery, drilling at Yellowtail-2 resulted in the discovery of additional reservoir intervals adjacent to and below the Yellowtail-1 discovery. Yellowtail-2 encountered 69 feet (21 meters) of high quality oil bearing reservoirs, which comprise the 17th discovery on the Stabroek Block. This resource is currently being evaluated for develop...

Apr. 27, 2021   Hess Corporation (NYSE: HES) today announced another oil discovery offshore Guyana at the Uaru-2 well on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of approximately 9 billion barrels of oil equivalent. Uaru-2 encountered approximately 120 feet (36.7 meters) of high quality oil bearing sandstone reservoir, including newly identified intervals below the original Uaru-1 discovery. The well was drilled in 5,659 feet (1,725 meters) of water and is located approximately 6.8 miles (11 kilometers) south of the Uaru-1 well. “The Uaru-2 discovery will add to the discovered recoverable resource estimate of approximately 9 billion barrels of oil equivalent,” CEO John Hess said. “We expect to have at least six FPSOs on the Stabroek Block by 2027, with the potential for up to 10 FPSOs to develop the current discovered recoverable resource base.” Production from the Liza Phase 1 development on t...

3 August 2016 The Tangguh Production Sharing Contract (PSC) Contractors and the Indonesia Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) have today signed agreements with a number of international banks, Indonesian banks and financial institution to finance the Tangguh LNG Train 3 Project , at SKK Migas office in Jakarta. In the signing ceremony today, SKK Migas Chairman Amien Sunaryadi remarked, "For the first time, Indonesian financial institutions are involved in the financing for an LNG project." The commercial tranche loan facilities signed today are part of the US$3.745 billion loan package or equal to Rp 50.557 trillion. In addition to domestic banks and financial institution, the loan package also comes from lenders in China, Japan, Germany, South Korea, France, Singapore, and a multi-lateral agency. These agreements follow the announcement on 1 Juli 2016 for the project's final investment decision by the Tangguh PSC Contractors. ...

August 5, 2016 Chiyoda Corporation (“Chiyoda”, TSE: 6366; ISIN: JP3528600004) is pleased to announce that CSTS, a consortium led by Indonesian EPC Contractor Tripatra with Chiyoda, Saipem and Suluh Ardhi Engineering, has been awarded a contract by BP Berau Ltd. (as the operator of Berau, Muturi & Wiriagar Production Sharing Contracts (“Tangguh”)) for the onshore EPC work for Tangguh Expansion Project (Tangguh LNG Train 3) as detailed below: 1. Client : BP Berau Ltd. 2. Location : Papua Barat, Indonesia 3. Scope : EPC Lump Sum 4. Completion : Fiscal Year 2020 5. Execution Scheme : Consortium of Chiyoda, Tripatra, Saipem and SAE 6. Project Outline : Tangguh LNG Train 3 with a liquefaction capacity of 3.8 million tons per annum (mtpa) will be built at the Tangguh site, which is located in Papua Barat Province of Indonesia, in addition to the existing Train 1 and 2 (3.8 mtpa x 2 Trains). CSTS will commence execution of the EPC work of Tangguh LNG Train 3 in 2016, which also encompass...

 July 1, 2016 We, the shareholders of the Tangguh Production Sharing Contract Partners led by BP, the project operator, today announced that the final investment decision (FID) has been approved to advance the development of the Tangguh Expansion Project in the Papua Barat Province of Indonesia. The decision follows the government of Indonesia’s approval of the Plan of Development II in 2012 and issuance of the project’s environmental and social impact assessment (AMDAL) and environmental permit in 2014. The Tangguh Expansion Project will add a third LNG process train (Train 3) with 3.8 million tons per annum (mtpa) of production capacity to the existing facility (two trains with 7.6 mtpa of production capacity). The project also includes two offshore platforms, 13 new production wells, a new LNG jetty, and supporting infrastructure. The commencement of production is expected in 2020. The Tangguh Expansion Project will play an important role in supporting Indonesia’s growing energ...

November 19, 2018 INPEX CORPORATION (INPEX) announced today that the INPEX-operated Ichthys LNG Project (the Project) hosted an event in Darwin in the Northern Territory of Australia on November 16, 2018 commemorating the commencement of Project operations. The event was attended by His Excellency Shinzo Abe, Prime Minister of Japan, The Honourable Scott Morrison MP, Prime Minister of Australia, Senator the Honourable Matthew Canavan, Australian Minister for Resources and Northern Australia, Hiroshige Seko, Japanese Minister of Economy, Trade and Industry, the Honourable Michael Gunner, Chief Minister of the Northern Territory, representatives of the governments of Japan and Australia, Ichthys LNG buyers, financial institutions involved in the financing of the Project, members of the local communities and other Project stakeholders. Also on November 16, a plaque unveiling ceremony commemorating the startup of the Project’s onshore gas liquefaction plant was held in the presence of Se...

May 22, 2019 Sempra Energy (NYSE:SRE) and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA). The HOA anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for five million tonnes per annum (Mtpa) of LNG offtake from Phase 1 of the Port Arthur LNG export-project under development. It also includes the negotiation and finalization of a 25% equity investment in Phase 1 of Port Arthur LNG. Amin Nasser, Saudi Aramco’s CEO & President, said,“The agreement with Sempra LNG is a major step forward in Saudi Aramco’s long term strategy to become a leading global LNG player. With global demand for LNG expected to grow by around 4% per year, and likely to exceed 500 million metric tons a year by 2035, we see significant opportunities in this market and we will continue to pursue strategic partnerships which enable us to meet ris...

 August 03, 2021 The U.S. Court of Appeals for the D.C. Circuit today remanded to FERC the Commission’s November 2019 approval of two liquefied natural gas (LNG) terminals and associated pipeline facilities in the Brownsville Channel—the Rio Grande LNG and Texas LNG projects. In today’s decision, the court agreed with local organizations that the Commission’s analyses of the projects’ climate change and environmental justice community impacts were deficient under the National Environmental Policy Act and the Administrative Procedures Act, and that FERC had not adequately justified its finding that the projects are in the public interest under the Natural Gas Act. FERC Chairman Richard Glick said today’s court decision reaffirms the urgency behind his push for the Commission to adequately consider the effects of its decisions on climate change and the impacts of building these projects in environmental justice communities. “As I said in my dissents when FERC approved these ...

April 18, 2019 Sempra Energy (NYSE:SRE) today announced that its subsidiary, Port Arthur LNG , LLC, received authorization from the Federal Energy Regulatory Commission (FERC) to site, construct and operate its natural gas liquefaction-export facility under development in Jefferson County, Texas. "With today's FERC order and the commercial momentum of the Port Arthur LNG project, we are one step closer to reaching a final investment decision and delivering low-cost, reliable and clean U.S. natural gas to world markets," said Carlos Ruiz Sacristán, chairman and CEO of Sempra North American Infrastructure. "Port Arthur LNG should help us achieve our goal to become one of the largest exporters of North American liquefied natural gas (LNG). We are grateful to all of our stakeholders for supporting this important infrastructure project that is expected to create thousands of jobs and provide economic benefits for years to come." The Port Arthur LNG project is exp...

19.12.2018 Polish Oil and Gas Company and the American company Port Arthur LNG , a subsidiary of Sempra Energy, have signed a 20-year contract for the sales and purchase of liquefied natural gas. On the basis of the concluded agreement, PGNiG will buy annually 2 million tonnes of LNG (approximately 2.7 bcm after regasification). The purchases will commence in 2023 from the Port Arthur LNG terminal, which will be built in Jefferson County, Texas. LNG purchases will be made on a FOB (Free On Board) basis, with PGNiG responsible for shipping the LNG from the Port Arthur terminal to the final destination. Port Arthur LNG will manage gas pipeline transportation, liquefaction processing and cargo loading, giving PGNiG flexibility in cargo management. PGNiG plans to deliver cargoes to domestic customers in Poland or trade LNG on the global market, once operations commence. “This agreement marks an important step toward Poland’s energy independence and security,” commented U.S. Secretary of E...

03 March 2020 Sempra Energy (NYSE: SRE) and Bechtel today announced that their respective subsidiaries, Port Arthur LNG, LLC and Bechtel Oil, Gas, and Chemicals, Inc., have signed a fixed-price engineering, procurement and construction (EPC) contract for the Port Arthur LNG liquefaction project under development in Port Arthur, Texas. “Building new export infrastructure in the U.S. is critical to providing overseas markets with cleaner fuel alternatives,” said Jeffrey W. Martin, chairman and CEO of Sempra Energy. “Partnering with a world-class construction firm like Bechtel bolsters our execution plan for one of the world’s largest LNG development projects.” Bechtel’s Chairman and CEO Brendan Bechtel said, “We are honored and grateful that Sempra has chosen Bechtel as their trusted partner to help grow Sempra’s LNG business on the Gulf Coast. Together, we will deliver an important, clean and sustainable energy source to the world while creating jobs and building economic opportunities...

2 Jun 2021 Raízen Argentina, Shell licensee, has selected Axens for the modular supply of a FCC gasoline hydrodesulphurization unit Prime-G+® in its Buenos Aires refinery . Raízen Argentina is developing a modernization and expansion program for its existing 110,000 BPSD Buenos Aires refinery to meet more stringent motor fuels specifications by January 1st 2024. Part of this program, downstream the FCC unit, a smart integrated solution based on the Prime-G+® technology was selected to upgrade the gasoline pool quality along with high performance catalysts. This 10,200 BPSD Prime-G+® unit will be delivered in module to enable Raízen to execute the project in a very competitive schedule. This modular solution supplied by Axens derisks project schedule, and typically save up to 6 months while ensuring the adequate performance of the unit. This is achieved by high degree of pre-fabrication and pre-commissioning. On top of that, risks inherent to site activities, including safety, are dra...

May 10, 2021 KBR, Inc. (NYSE: KBR) announced it has been awarded a contract to complete the Front-End Engineering Design (FEED) for BUA Group’s new, modern refinery facility in Nigeria . The award marks the continuation of a strong relationship with BUA Group, a leading agricultural and industrial chemicals conglomerate, after KBR successfully completed the conceptual feasibility study for the project in 2018. The facility will support fuel production for Nigeria’s domestic and regional markets, helping reduce the country’s dependence on imported supplies. Elements of the work will include sulphur removal facilities, water treatment facilities to meet high level environmental standards, and heat integration to ensure long standing efficiency of production. “KBR’s Sustainable Technology Solutions business is committed to helping provide and shape sustainable and efficient solutions to its clients globally,” said Jay Ibrahim, KBR President – Sustainable Technology Solutions. “This contra...

May 13, 2021 JGC Holdings Corporation (Representative Director, Chairman and CEO Masayuki Sato) announced today that JGC Corporation (Representative Director and President Yutaka Yamazaki), which operates the overseas engineering, procurement, and construction (EPC) business of the JGC Group, has been awarded the Pre-Front End Engineering and Design (Pre-FEED) contract for a FLNG (FLNG: floating liquified natural gas) facility project in the Federal Republic of Nigeria as planned by UTM Offshore Limited, a local private company engaged primarily in crude oil sales and construction equipment leasing, and the Nigerian National Petroleum Corporation. This project calls for the Pre-FEED of a FLNG facility with a production capacity of 1,200,000 tons annually using gas from the Yoho Gas Field owned by ExxonMobil and the Nigerian National Petroleum Corporation. After the completion of the Pre-FEED, FEED and EPC phases are planned. This will be the first FLNG facility in Nigeria and is a mi...

May 20, 2021 KBR, Inc. (NYSE: KBR) has announced it will be supporting the development of Nigeria’s first ever Floating Liquefied Natural Gas (FLNG) facility , enabling economic growth and sustainability of the country’s future energy supplies. The award, by UTM Offshore Limited, builds on over 40 years of KBR’s continuous LNG experience and depth of FLNG capabilities. Acting as Owner’s Engineers, KBR will be responsible for a multi-disciplined due diligence review of the Pre-Front End Engineering Design, being completed by Japanese engineering company JGC. UTM Offshore is leading the development of the 1.2 million tonnes per annum FLNG facility in collaboration with LNG Investment Management Services, a subsidiary of Nigeria National Petroleum Corporation. “Through our highly experienced team, rich history in LNG and clear focus on shaping sustainable solutions that support effective energy transition and carbon footprint reduction, we’re excited by the opportunity to support UTM Of...

Aug. 5, 2021 McDermott International, Ltd today announced a contract award for the engineering, procurement, construction and commissioning of a new naptha hydrotreating unit and a new isomerization unit with associated facilities for the Barauni Refinery Expansion Project in Bihar, India, for Indian Oil Corporation Limited. "We welcome the opportunity to work on the expansion of the Barauni Refinery," said Mahesh Swaminathan, Senior Vice President, Asia Pacific. "Evolving the configuration will maximize output, ensure compliance with stringent emissions and quality standards and help meet the increasing energy requirements of India's domestic market." The units treat heavy naptha streams by removing sulphur, nitrogen and metal compounds to produce Bharat Stage-6 compliant gasoline. Bharat Stage-6 compliance produces a cleaner fuel to meet high emissions standards. "This is our second award for the Barauni Refinery Expansion Project, which will bring great...

June 14, 2021 McDermott International, Ltd today announced it has received two separate engineering, procurement, construction and commissioning (EPCC) contract awards from Indian Oil Corporation Limited (IOCL) for the Haldia Refinery and the Barauni Refinery . The first award is an EPCC contract for a new diesel hydrotreating unit and associated facilities for the Barauni Refinery Expansion Project in Bihar, India. The second award is an EPCC contract for the catalytic dewaxing unit and associated facilities at the Haldia Refinery in West Bengal, India. The catalytic dewaxing unit will help produce base oil which can be utilized in finished lubricants. India is the world's third-largest user of finished lubricants but is also, with a deficit of base oil, one of the world's largest importers of base oil. Both projects contribute to greater independence for India's domestic energy needs. "These awards demonstrate our commitment to advancing India's long-term energy...

April 27, 2021 KBR, Inc. (NYSE: KBR) announced that it has received a contract from SAPREF for its Fluid Catalytic Cracking (FCC) Regenerator project at Durban , South Africa. Under the contract, KBR will implement its proprietary Catalyst Regeneration technology that will allow SAPREF to improve the reliability and integrity of the FCC unit by optimizing its catalyst and air distribution. KBR’s scope includes a technology license, basic and detailed engineering, and proprietary equipment. “We are proud to announce that SAPREF has chosen KBR’s leading FCC technology for its project,” said Doug Kelly, KBR President, Technology. “As an FCC industry leader, KBR incorporates continuous innovations in its solutions to help our clients achieve both their business and sustainability goals in the most effective manner.” As a pioneer in FCC technologies, KBR developed the world's first commercial FCC unit in 1942 and has executed over 200 FCC grassroots and revamp projects globally. In addi...

J uly 27, 2021    KBR, Inc. (NYSE: KBR) announced today that it has been awarded technology licensing contracts by PKN ORLEN (PKN) for KBR’s leading Solvent Deasphalting (SDA) and Residue Fluid Catalytic Cracking (RFCC) technologies as part of PKN’s Bottom-of-the-Barrel project for its Plock Refinery in Poland. Under the terms of the contracts, KBR will provide technology licensing and basic engineering design for the SDA and RFCC units. Following a PKN ORLEN final investment decision, the SDA unit will be based on KBR’s market-leading supercritical solvent recovery ROSE® technology and will help PKN ORLEN achieve its operating objectives, producing cleaner upgraded feedstock for the new RFCC unit. For the RFCC unit, KBR will provide its innovative, dual-riser MAXOFIN℠ technology, which uses conventional FCC operating conditions, KBR’s proprietary catalyst additives and state-of-the-art equipment to help PKN ORLEN maximize propylene production from traditional FCC feedstocks ...

June 28, 2021 KBR (NYSE: KBR) announced today that it has been awarded a contract by Raízen Argentina for modernizing the Fluid Catalytic Cracking (FCC) unit at its Buenos Aires Refinery . Under the terms of the contract, KBR will provide a basic engineering package for the FCC New Configuration Project. KBR will offer its industry-leading reaction and catalyst regeneration technologies that will enable Raízen to achieve higher unit profitability, enhanced on-stream availability and a lower carbon footprint. "We are proud to be a part of Raízen's FCC project to modernize the unit," said Doug Kelly, KBR President, Technology. "This project demonstrates KBR's commitment to deliver differentiated technologies that help our clients to meet their performance objectives." "We trust KBR will deliver a state-of-the-art and more environmentally friendly modernization of our FCC unit" said Julio Ramos, Projects Director, Raízen Argentina. As a pioneer in...