December | 2019 | | Petropipe

Sonatrach orders a Refinery to Técnicas Reunidas of 3,300 Million Doller

Técnicas Reunidas will close one of the best exercises in its history in terms of contracting after winning in Algeria a contract for the construction of a Sonatrach refinery with an investment budget of about 3,700 million dollars (about 3,336 million euros).

The Algerian state giant has commissioned the turnkey project to Spanish engineering, which leads a consortium with 55%, in which the Korean Samsung participates.

The deep conversion refinery, which will have a capacity of five million tons per year , is located in Haoud el-Hamra, Hassi Messaoud, in the interior of Algeria , and is part of the development and modernization plans promoted by the state company .

The percentage of the work portfolio for Técnicas Reunidas is equivalent to about 2,000 million dollars , which makes the future energy plant one of the five largest contracts in the history of the company controlled by the Lladó family. The contract, which will be signed by local authorities in the coming days, consolidates the change in speed of Técnicas Reunidas in 2019. The workload of the Spanish group will be above 11,000 million euros.

The Spanish-Korean consortium has imposed itself on the final of the contest to the British Petrofac, also with strong interests in the area. Despite the political instability that the country is going through after the resignation of Abdelaziz Buteflika in March 2019 due to strong social pressure, Sonatrach is still the energy giant of North Africa, with an extensive program of investments in the country to modernize and expand its oil and gas plant.

The work of Técnicas Reunidas includes the engineering, provisioning, construction, commissioning and commissioning of the project. Sources close to the contract indicate that the installation includes technologically advanced processing units, among which the treatment of crude, hydrocracker, diesel hydrodesulfurization, naphtha hydroprocessing, catalytic reformation, isomerization and deasphalting, among others. The plant will have an amines recovery unit, a sulfur recovery unit and an effluent treatment plant.

Técnicas Reunidas billed until September 3,428 million, 5% more. Ebitda advanced 68%, to 73 million, with a profit of 24 million, 310% higher.

Source: https://www.tecnicasreunidas.es/en/index/

Subsea 7 Won Contract Offshore US Gulf of Mexico

Subsea 7 announced the award of a sizeable contract by Chevron U.S.A Inc. for the subsea installation services at the St. Malo field, located in the Walker Ridge area of the Gulf of Mexico. The St. Malo field is approximately 250 miles south of New Orleans.

Subsea 7’s scope of work includes project management, engineering, procurement, construction and installation of the multiphase pump system at the St. Malo field, a 14 mile water injection flowline system, inclusive of a Swagelining polymer lined flowline, and the water injection control system.

Project management and engineering will commence immediately at Subsea 7’s offices in Houston, Texas. Fabrication of the water injection flowline and riser will take place at Subsea 7’s spoolbase in Ingleside, Texas, with offshore operations occurring in 2021.

Craig Broussard, Vice President for Subsea 7 US, said, “The St. Malo multiphase pump system and water injection projects award is an important win for the Gulf of Mexico region. It combines the utilisation of our newest pipelay vessel, the Seven Vega, along with Subsea 7’s proven project execution capabilities and Swagelining’s polymer lining technology. In addition, the combination of the SURF scope for Subsea 7 and ongoing subsea equipment delivery by OneSubsea, will allow the Subsea Integration Alliance to work in collaboration with Chevron to unlock the value of an integrated approach to project optimisation.”

Source: https://www.subsea7.com/en/media/company-news/2019/subsea-7-awarded-contract-offshore-us-gulf-of-mexico.html

Saipem Wins Drilling Contracts Worth $1.7B USD

Saipem has been awarded new contracts and extensions on existing contracts in Onshore Drilling and Offshore Drilling for an overall amount of approximately 1.7 billion USD.

The contracts related to the Onshore Drilling Division encompass 19 land-rigs located in the Middle East, with power between 1500 and 2000 HP, and their duration range from three up to ten years. In addition, new contracts and extensions on other existing contracts have been assigned for new works that will be executed in Bolivia, Perù, and Romania.

The contracts related to the Offshore Drilling Division concern activities to be executed in Norway and in Angola.

Stefano Cao, CEO of Saipem, commented: “The award of these contracts proves the solidity and reliability of the operational performance of our Drilling Divisions and further strengthens Saipem’s long-time presence in strategic areas of the world”.

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements.

Source: http://bit.ly/2QqhcyV

KBR Awarded Condensate Refineries Project Contract for Nigerian National Petroleum Corporation

KBR announced that it has been awarded the Project Management Consultancy Services contract by Nigerian National Petroleum Corporation (NNPC) for front-end engineering design (FEED) definition at the NNPC headquarters in Abuja, Nigeria.

Under the terms of the contract, KBR, as co-consultant with the National Engineering and Technical Company Ltd (NETCO) will provide technical consultancy services for four greenfield refineries in the ANOH and Western Forcados area.

This work is expected to be performed over a six-month period with KBR providing strategic advisory consulting on elimination of condensate from oil export streams which will reduce dependency and expense of imported refined products. The work will be conducted from KBR’s Leatherhead office in the U.K. with support from the Middle East and Houston.

The main objective of the project is upgrading gas condensate to valuable refined fuel products. This reduces the country’s dependence on costly imported fuels and is well aligned with KBR’s gas monetization and asset optimization strategies. Together, these strategies provide a valuable, sustainable solution to Nigeria in matters of fuel security, economic development and regional capacity building.

“We are delighted to be part of this strategic project supporting a prestigious partner to deliver the transition to an increasingly sustainable energy solution for Nigeria,” said Jay Ibrahim, KBR President, Energy Solutions – Services. “The work will be undertaken by KBR’s consulting team, where our strategic master-planning capability resides to help customers improve their sustainability, energy efficiency and maximize asset performance.”

KBR is leading the industry to meet the world’s ever-growing energy and chemical demands. From an expanding portfolio of greener, cleaner solutions to its comprehensive feasibility study solutions, KBR is supporting the world’s transition to a clean energy future.

Source: www.kbr.com

L&T Technology Services Wins Multi-Million-Dollar Project in Europe

L&T Technology Services on Monday said it has bagged multi-million-dollar engineering, procurement and construction management project in Europe.

“L&T Technology Services Ltd (LTTS) won a multi-million dollar project from one of the world’s top plastics, chemicals and refining manufacturers, to deliver the entire spectrum of engineering, procurement and construction management (EPCM) services for the expansion of an existing site in Europe,” the company said in a filing to BSE.

The expansion project will be implemented at the customer’s brownfield plant in Germany for over 30 months.

As the strategic engineering partner, LTTS will execute the entire project through an EPCM model, from procurement and supply chain management support to safety aspects and efficient design.

“LTTS has already carried out successful brownfield projects in the USA and we are privileged to extend our engagement with an important customer to the European markets,” Amit Chadha, President, Sales and Business Development and board member at L&T Technology Services said.

The shares of L&T Technology Services were trading at Rs 1,474.60 a piece on BSE in morning trade.

Source: https://www.larsentoubro.com/

Maersk Drilling Won Three-Well Contract Offshore Trinidad by BP

Maersk Drilling has secured a three-well contract for the Maersk Discoverer semisubmersible with BP for development drilling at the Matapal project offshore Trinidad and Tobago. The contract has an estimated duration of 322 days and is expected to commence in July 2020. The value of the firm contract is approximately $78 million, including a mobilization fee. The contract contains an additional one-well option.

“It is obviously exciting for us to see the Maersk Discoverer go to Trinidad for BP, for whom the rig has performed successful operations offshore Egypt for the last six years, including the shallowest water well ever drilled in dynamic positioning mode for both BP and Maersk Drilling, which delivered significant cost savings to the customer,” Morten Kelstrup, COO of Maersk Drilling, said. “We are very pleased that BP is recognizing Maersk Discoverer’s qualities by re-signing the rig for this new campaign.”

The Maersk Discoverer is a DSS-21 column-stabilized dynamically positioned semisubmersible drilling rig, able to operate in water depths up to 10,000 ft. It is currently operating offshore Egypt.

Source: https://keyfactsenergy.com/news/6064/view/

mcdermott-wins-two-gas-field-deals-off-malaysia

McDermott Awarded Technology Contract by Naftna Industrija Srbije in Serbia

McDermott’s Lummus Technology will upgrade existing unit for production of higher value products utilizing Indmax FCC and CDEtbe technologies
– State-of-the-art Indmax FCC Technology, licensed by McDermott’s Lummus Technology and jointly developed with Indian Oil Corporation (IOCL), being implemented.

It has been awarded a sizeable technology contract by Naftna Industrija Srbije (NIS) for the modernization of its existing Fluid Catalytic Cracking (FCC) unit to be implemented at their refinery in Pancevo, Serbia.

As part of this project, McDermott’s Lummus Technology will provide the license and basic engineering for the Indmax FCC technology and a grassroots unit for the production of bioethanol based Ethyl Tertiary Butyl Ether (ETBE). The state-of-the-art Indmax FCC technology, which was jointly developed by Indian Oil Corporation (IOCL) and Lummus, will shift the yield of the existing FCC unit toward production of valuable olefins and higher-octane naphtha. Part of the olefins will be converted with bio-ethanol to ETBE using Lummus’ technology, which is used as a clean, octane-boosting gasoline-blending component.

We are extremely pleased that NIS has again selected Lummus Technology to upgrade their refinery,” said Leon de Bruyn, Senior Vice President of Lummus Technology. “This award represents the first license of the Indmax FCC technology in Europe, demonstrating the increasing interest in Indmax FCC globally. It also demonstrates our ability to supply integrated and optimized solutions to our clients from our broad portfolio of technologies. NIS will benefit from the added process flexibility and improved economics for many years to come.

Previously, NIS has also selected the hydrocracking technology from Lummus Technology’s joint venture, Chevron Lummus Global (CLG), as well as, more recently, Lummus Technology’s delayed coking technology.

McDermott’s Lummus Technology is a leading licensor of proprietary petrochemicals, refining, gasification and gas processing technologies, and a supplier of proprietary catalysts and related engineering. With a heritage spanning more than 100 years, encompassing approximately 3,400 patents and patent applications, Lummus Technology provides one of the industry’s most diversified technology portfolios to the hydrocarbon processing sector.

Forward-Looking Statements
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott’s actual results of operations. These forward-looking statements include, among other things, statements about backlog, to the extent backlog may be viewed as an indicator of future revenues or profitability, and the expected scope of the contract discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.

Reliance Unit Signs Binding Deal with Brookfield for Rs 25,215 crore Investment

Brookfield Infrastructure Partners, the Canadian asset management company, will invest Rs 25,215 crore ($3.55 billion) in the telecom tower assets of Mukesh Ambani’s Reliance Industries in a deal that will help strengthen the balance sheet of Reliance Jio Infocomm.

Reliance Industrial Investments & Holdings Ltd., a wholly owned unit of Reliance Industries, has entered into binding agreements with Brookfield Infrastructure and its institutional partners, which will invest the amount in units to be issued by the Tower Infrastructure Trust, the Indian oil-to-retail conglomerate said in a notice to the stock exchanges on Monday.

“Closing of the transaction is subject to certain regulatory approvals, which are expected shortly,” Reliance added.

Reliance said that after the transaction is completed, the Trust will own 100% of the equity share capital of Reliance Jio Infratel Private Ltd. (RJIPL), the unit that houses the telecom tower assets.

The Trust currently owns 51% of RJIPL, while Reliance Industries holds the remaining 49%. On receiving the funds from Brookfield, the Trust will buy Reliance’s 49% stake, repay Rs 12,000 crore to Jio and clear other financial liabilities of RJIPL. Jio will then transfer Rs 12,000 crore to Jio and clear other financial liabilities of RJIPL. Jio will then transfer Rs 12,000 crore to Reliance against certain financial liabilities owed to the parent company.

Source: http://bit.ly/2tmVfc7

L&T Construction Secures Big Contract from Rail Vikas Nigam for Railway Tunnels, Bridges

The company has been awarded the contract for construction of the main tunnel, with a parallel escape tunnel and ballast-less track that runs inside the main tunnel, of Rishikesh-Karanprayag Tunnel 2, which is located in the Garhwal Himalayan Range and a part of the flagship Golden Quadrilateral railway project.

Infrastructure major Larsen & Toubro’s Maharashtra order book may be at risk as the state government reviews big-ticket infrastructure projects, but the company has recently bagged several significant awards in India and abroad. The heavy civil construction arm of the company, L&T Construction, on Thursday, said it has bagged an order of around Rs 1,000-2,500 crore from Rail Vikas Nigam (RVNL) for construction of tunnels, bridges and formation works in Uttarakhand.

It also won significant contracts (project value between Rs 1,000 crore and Rs 2,500 crore) in power and distribution in the Middle East, including a design, supply and construction order in the United Arab Emirates.

According to analysts, over 9% of L&T’s total order book of infrastructure projects is in Maharashtra. Analysts estimated a potential hit of Rs 19,020 crore on the company as a result of Maharashtra government’s recent decision to review large infrastructure projects.

Source: https://www.larsentoubro.com/

Subsea 7 awarded EPCI contract by Aker BP for the Ærfugl Phase 2 gas field development, Norway

Subsea 7 announced the award of a sizeable contract by Aker BP for the Ærfugl Phase 2 gas field development, located approximately 210km west of Sandnessjøen in the Norwegian Sea.

This EPCI contract is a long-distance tie-back involving the application of Subsea 7’s Electrically Heat Traced Flowline (EHTF) technology for a distance of 13.5km from the subsea location to the existing Skarv infrastructure. Subsea 7 has a long-term subsea alliance agreement with Aker BP.

Project management and engineering will commence immediately at Subsea 7’s offices in Stavanger, Norway. Fabrication of the EHTF system will take place at Subsea 7’s spoolbase at Vigra, Norway with offshore operations taking place during 2020 and 2021.
Monica Th. Bjørkmann, Vice President Subsea 7 Norway said: “This award acknowledges Subsea 7 as a key partner in the delivery of pioneering technology, underlining our proven track record of safe and successful project execution in some of the harshest offshore environments. Electrically Heat Traced Flowlines have been developed by Subsea 7, in collaboration with InterPipe, to deliver leading insulation performance and enable cost-effective long-distance tie-backs. We look forward to continuing our alliance with Aker BP for the development of Ærfugl and future projects.”

Source: https://www.subsea7.com/

Visiongain: Micro LNG Market Set to Grow to $222.7 Million by 2030

Visiongain said in its Micro Liquefied Natural Gas (LNG) Market Forecast 2020-2030 that investments in small scale LNG liquefaction facilities were gaining momentum, which surged the demand for less than 0.1 mtpa micro-scale LNG liquefaction facilities mainly for peak shaving needs.

Low logistics and transportation costs coupled with on-site liquefaction of LNG, i.e. near to the demand centers, surged the investments in the micro LNG business.

According to the company’s report, there are more than 30 operational micro LNG liquefaction facilities with China dominating the micro LNG market in terms of installed liquefaction facilities.

Visiongain assesses that supply-side, demand-side, and installed capacity of the global micro LNG liquefaction will reach $222.7 million in value and five mtpa in terms of installed capacity by 2030.

The company added that the planned and upcoming projects were the driver for the steady growth rate till 2030.

Also, growing investments in the development of economic small-scale LNG liquefaction facilities is expected to benefit the demand for micro LNG in the near future.

Source: http://bit.ly/2PvNojO

RIL Plans to Develop Chemical Facility in Ruwais with Adnoc

Reliance Industries NSE and Abu Dhabi National Oil Company (ADNOC) have signed a framework agreement to explore the development of an Ethylene Dichloride (EDC) facility in Ruwais, the companies said in a joint statement late Tuesday.

The planned unit will help RIL in procuring EDC, a key raw material used in the manufacturing of a polymer product, Polyvinyl chloride (PVC). PVC products are used in the housing and agriculture sectors, and demand for it, particularly in the Indian vinyl market, is expected to grow.

This is a significant step towards Reliance’s commitment to pursue backward integration and will pave the way for enhancing PVC capacity in India to cater to the fast-growing domestic market. This cooperation ideally combines advantaged feedstock and energy from the UAE with Reliance’s execution capabilities and the growing Indian market,” RIL executive director Nikhil Meswani was quoted as saying in the statement.

RIL will provide the planned joint venture operational expertise and

expertise and entry to the large and growing Indian vinyl market, in which it is a key participant.

ADNOC would supply ethylene to the potential JV and provide access to infrastructure at Ruwais in Abu Dhabi. The pact is part of ADNOC’s strategy to expand the downstream portfolio and international market access by 2030.

As per the pact, ADNOC and RIL will evaluate the potential creation of a facility that manufactures EDC adjacent to ADNOC’s integrated refining and

petrochemical site in Ruwais, Abu Dhabi, and strengthen the companies’ existing relationship supporting future collaboration in petrochemicals.

Source: http://bit.ly/2EcXAZf

The US and India New Trunk Pipeline Build to Lead Globally by 2023

The US is expected to lead in terms of global trunk or transmission pipeline length additions for planned and announced (new-build) projects between 2019 and 2023, contributing around 21 percent of global new-build pipeline additions by 2023.

The company’s report, H2 2019 Global Length and Capital Expenditure Outlook for Oil and Gas Pipelines – India and the US Dominate New-Build Pipeline Length Additions, reveals that the US is set to have a planned new-build pipeline length of 14,162km and an announced new-build pipeline length of 20,230km by 2023.

Sunrita Dutta, Oil and Gas Analyst at GlobalData, comments: “Liberty Oil is the largest upcoming pipeline project in the country with a new-build length of 2,172 km. The pipeline is proposed from a pump station in Guernsey to an oil terminal at Cushing VII. It is expected to start operations in 2021.”

India ranks second highest globally, in terms of trunk or transmission pipeline length additions, with a new-build planned and announced pipeline length of 23,344km by 2023. The Jagdishpur-Haldia gas pipeline in India is the major upcoming planned pipeline project with a proposed length of 2,655km. It is expected to start operations in 2020.

Dutta concludes: “Russia stands third globally with a new-build planned and announced trunk pipeline length of 14,669 km by 2023. The Nord Stream 2 gas pipeline project in Russia is the most important planned pipeline in the country and is slated to begin operations in 2020 with a new-build pipeline length of 2,400 km.

Source: http://bit.ly/2PxYYez

Bilfinger bags TRANSCO’s three-year maintenance contract in Abu Dhabi

Mannheim-headquartered construction and engineering firm Bilfinger’s regional arm Bilfinger Middle East has secured a three-year blanket maintenance contract from Abu Dhabi Transmission & Despatch Company (TRANSCO), with the contract being applicable from 2019 to 2022.

The German firm did not reveal the value of the contract, which it said was worth multimillion dollars.

As part of the contract, Bilfinger Middle East will carry out routine maintenance, equipment repair, replacement, and new equipment installation of sodium hypochlorite plants — which includes generation system and dosing system from process water inlet up to injection points — across Abu Dhabi, Al Ain, Northern and Western region in the UAE.

Bilfinger Middle East will also carry out inspection, through which, corrective maintenance — covering repair and replacement — will be implemented by supplying required equipment and performing the required services in a bid to reach full-capacity.

Speaking about the contract, managing director of Bilfinger Deutsche Babcock Emirates, Christopher Barker, said: “This agreement is a leap forward in our affiliation and we only see more optimistic opportunities ahead.”

Source: https://www.bilfinger.com/

Sapura Energy bagged five new contracts valued at RM1.3 billion for its engineering and construction as well as drilling segments

Among the new wins is the submarine rescue service contract for the Royal Australian Navy, which is a first undertaking for the group. Sapura Energy also marked a new entry into Egypt for works in the Gulf of Suez, along with other wins across Malaysia and Indonesia.

The contract wins demonstrate Sapura Energy’s continued pursuit to deepen its presence in existing core markets, break into new markets and expand its scope of services.

The growing orderbook is expected to increase asset utilisation for the group and contribute to improving its financial performance. The group now has 10 key operating centres to execute work strategically around the globe.

Marking a new footprint in Egypt, Sapura Offshore Sdn Bhd has been awarded a subcontract by Pan Marine Petroleum Services Company. The scope of work comprises the installation of six new subsea pipelines in the Gulf of Suez for the Gulf of Suez Petroleum Company, a joint venture between BP plc and Egyptian General Petroleum Corporation, the National Oil Company of Egypt.

Works will be carried out in various locations in the Morgan field, with an expected total pipelay of 57 kilometres.

For its drilling segment, Sapura Drilling Asia Sdn Bhd has secured two new contracts. The first contract is from ExxonMobil Exploration and Production Malaysia Inc for the provision of its tender assist drilling rig, Sapura T-9.

The scope comprises the provision of barge tender assisted drilling rig services for a period of three years at the Tabu field, offshore Peninsular Malaysia.

Sapura Drilling has also been awarded a contract extension by Petronas Carigali Sdn Bhd for the provision of semi tender assisted drilling rig, Sapura Berani (pix). The contract entails the drilling of nine wells at the Sumandak, Erb West and Dulang facilities, offshore Sabah and Peninsular Malaysia.

In Indonesia, Sapura Offshore, in a joint venture with PT Timas Suplindo, has won a contract from ENI East Sepinggan Limited, a subsidiary of multi-national oil company ENI S.p.A. The contract is for engineering, procurement, construction and installation works of two 16-inch diameter offshore rigid pipelines from the Jangkrik facility to a future manifold near Merakes drilling centres.

Works will be carried out at water depths of between 70 metres to 1,400 metres. The total length of the pipeline system is 95 kilometres.

The scope of work includes design, fabrication and offshore installation of foreseen structures, deep water pipeline end terminations and in-line tee systems for the East Sepinggan Block, East Kalimantan in Indonesia.

Undertaking its first contract for The Royal Australian Navy, Total Marine Technology Pty Ltd (TMT), a subsidiary of the group, has been awarded key roles in the submarine rescue service contract by Phoenix International (Australia) Pty Ltd.

TMT has been selected to design and fabricate a remotely operated vehicle, including to design and supply the external propulsion and non-life support-related electrical and control systems as well as the Submarine Rescue Bell.

The rescue system will be accepted into operational service in 2022 and will be one of four air transportable systems in the world.

The “primary mission” of the system is to deliver rescue capability to The Royal Australian Navy’s submarine fleet. The system will also be capable of supporting other submarine operating nations by means of the NATO (North Atlantic Treaty Organisation) standard escape hatch.

Source: https://sapuraenergy.com/

L&T Construction bags Significant Contracts for Various Businesses

The construction arm of L&T has secured orders from prestigious clients in the GCC and various Indian states for its varied businesses.

In the United Arab Emirates, the Power Transmission and Distribution business has secured an order for the design, supply and construction of a 132kV Substation project with associated 132kV cabling works from one of the government utilities.

Additional orders have been won in ongoing projects in the Middle East.

In Maharashtra, an empanelment and rate contract has been awarded to provide off-grid DC solar photovoltaic water pumping systems with standalone lighting systems for farmers in the Aurangabad, Nashik and Pune revenue divisions. These systems will have provision for mobile charging, transfer of automated meter reading and water discharge reading data.

L&T’s Transportation Infrastructure business has secured a major add-on order from an existing client in Qatar for an Expressway.

Additionally, various add-on orders have been received by some existing projects in the Water and Effluent Treatment (WET) and Metallurgical and Material Handling (MMH) businesses.

Source: https://www.larsentoubro.com/

Woodside Is Pressing Ahead With Plans of $6b Senegal Oil Project

Australia’s largest oil and gas producer Woodside is pressing ahead with its plans to develop Senegal’s first oil project, announcing the final field plan has now been submitted to the West African nation’s government for approval.

Describing the move as a “major milestone”, Woodside chief executive Peter Coleman said the project’s development plan was the last outstanding regulatory submission required before Woodside and its joint-venture partners could make a final investment decision later this month.

They look forward to continuing to work with the joint venture, the government, their contractors and other stakeholders to develop this opportunity, which will also be Senegal’s first oil project.

The first phase of the project is to develop 230 million barrels, with first oil targeted for early 2023, according to Woodside.

Senegalese oil producer Petrosen, which has a stake in the Sangomar project, said it was “excited about being in a position to take a final investment decision”.

Financing for the project has faced delays due to an arbitration sought by FAR Limited, which owns a 15 per cent interest in the project. FAR challenged Woodside’s acquisition of a 35 per cent holding from ConocoPhillips in 2016.

In a statement to the stock market on Tuesday, FAR said development of the “world-class” oil field in Senegal could transform FAR from an explorer to one of the biggest Australian-listed oil producers.

The Sangomar field development is anticipated to result in considerable cash generated for FAR and its shareholders from first oil in 2023, a time when FAR will also be one of the largest oil producers on the ASX,” Ms Norman said.

“This is an exciting time for the joint venture, the people of Senegal and FAR shareholders.”

The news comes as a final investment decision on another major Woodside project, the Scarborough gas field development, is a step closer after Woodside and its joint-venture partner BHP announced a deal to process gas at Woodside’s Pluto LNG facility last month.

Woodside and BHP, which has a 25 per cent stake in the Scarborough field off WA’s Pilbara coast, have inked a non-binding agreement that would see BHP make a decision on the project by mid-2020.

Source: https://www.woodside.com.au/

Daewoo E&C Secures US$86 Mil. Prefabrication Yard Construction Project in Iraq

Daewoo Engineering & Construction Co., a major builder in South Korea, said it has won a US$86 million order to set up a prefabrication yard for a tunnel project in Iraq.

Under the deal with the General Company for Ports of Iraq (GCPI), Daewoo E&C will build the Khor Al-Zubair immersed tunnel prefabrication yard by October 2021.

The deal is the fourth construction project that Daewoo E&C bagged in Iraq this year. Since March, the builder has secured $460 million worth of orders in Iraq, including road and terminal construction projects.

The latest order is the first stage of Iraq’s immersed tunnel construction project that aims to connect the Umm Qasr and Al Faw regions in the southern part of the country. Daewoo E&C said it also aims to win the tunnel construction order expected to be placed next year.

Daewoo E&C is the No. 5 builder in South Korea in terms of building capacity. Meanwhile, Daewoo E&C president Kim Hyung directly took care of activities to land the order for the immersed tunnel in Iraq. In addition, the contractor won the fourth-order this year in Iraq alone as it won orders for the construction of an additional breakwater (March), the first phase construction of a container terminal (April) and the construction of an access road (August). Its total contracts amounted to US$460 million.

Source: http://www.daewooenc.com/eng/

KCA DEUTAG WINS $460M OF LAND DRILLING CONTRACTS IN THE MIDDLE EAST, AFRICA AND EUROPE

KCA Deutag announces that it’s land drilling operation has won new contracts worth approximately $460m in the Middle East, Africa, and Europe.

Middle East

Following the announcement made in March that a client had reserved three rigs for an option period, the company confirms that these have subsequently been contracted for two years, with an option to extend by two further years. They have also been equipped with FX-Control, one of our newly launched +veDRILL™ technologies.

In Oman, They have won a three year contract extension, which commences in 2021, for five rigs operating for one of the country’s leading exploration and production companies. These rigs are currently being upgraded with the group’s latest equipment automation features, which are part of KCA Deutag’s +veDRILL™ Future technology range. These aim to remove people from the red zone and reduce invisible lost time.

In addition to this, one of the company’s rigs in Oman has secured a new two year contract with two one year extension options.

KCA Deutag has also been successful in Iraq where two of their rigs have had their contracts extended by one year.

Africa

In Nigeria, KCA Deutag has won a one year contract for one rig with an option to extend by an additional year.

The company has additionally been awarded three contracts in Algeria for four rigs in total. The largest is a three-year contract for two of these rigs, with a two-year extension option. The other two are short drilling programs.

Europe

In the Netherlands, one of the company’s rigs has secured a new contract for a short drilling program with a salt mining company.

As part of the contract and to meet the challenging drilling requirements, the rig is being upgraded with a new 750t Top Drive, supplied by Bentec, KCA Deutag’s manufacturer of drilling rigs and oilfield equipment.

It is also exciting to see the client response to recently launched Well of Innovation Campaign, with a number of the new contracts now incorporating different +veDRILL technologies. The company believe this adds to already strong offering around safe and effective operations and is another reason they are seeing strong demand for our rigs in their core markets.

Source:http://bit.ly/361dTUT

Subsea 7 awarded the contract by Woodside for the execution of Julimar-Brunello project in Australia

Subsea 7 confirmed a substantial contract award by Woodside for the execution of phase 2 of the Julimar-Brunello Project. This contract was awarded to Subsea 7 earlier this year, subject to the final investment decision of the Julimar-Brunello joint venture participants (Woodside and KUFPEC), which has now occurred.

The Julimar field is located approximately 200 km offshore North Western Australia. The full scope of work will be to design, procure, install and commission a 22 km 18” Corrosion Resistant Alloy (CRA) gas transmission flowline and an umbilical system.

The offshore activities will be performed in 2021 using Subsea 7’s reel-lay and heavy construction vessels.

Andy Woolgar, Subsea 7 Vice President Australia and New Zealand, said: “This contract with Woodside reflects what can be achieved with strong collaboration and early engagement. Our solution demonstrates the advantages of having a full range of installation and pipelay capabilities in Australia and illustrates how Subsea 7’s global technology portfolio allows us to deliver cost-effective solutions to our clients around the world.”

Source: https://www.subsea7.com/