Mc dermott| Petropipe

McDermott Awarded EPFC Contract for Storage Tanks in Canada

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McDermott International Ltd. announced CB&I Storage Solutions has been awarded a large* contract by a major EPC contractor for the engineering, procurement, fabrication and construction (EPFC) of 14 tanks in Burnaby, British Columbia. The tanks are part of the Trans Mountain Expansion Project, which will increase the nominal capacity of the Trans Mountain Pipeline System from 300,000 to 890,000 barrels of oil per day.

The scope of the contract includes 14 flat-bottom atmospheric storage tanks of various sizes up to 185 feet (56.4 meters) in diameter. The engineering and installation of the tanks will be performed by Canadian workers.

“This award demonstrates the confidence major international contractors place in our world-class storage and EPFC solutions,” said Cesar Canals, Senior Vice President of CB&I Storage Solutions. “For more than a century, CB&I Storage Solutions has maintained a strong track record of execution excellence in Canada.” 

The award will be reflected in McDermott’s second quarter 2020 backlog.

*McDermott defines a sizeable contract as between USD $50 million and $250 million.

CB&I Storage Solutions is the world’s leading designer and builder of storage facilities, tanks and terminals. With more than 59,000 structures completed throughout its 130-year history, CB&I Storage Solutions has the global expertise and strategically-located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach to design and build infrastructure solutions to responsibly transport and transform oil and gas into the products the world needs today. From concept to commissioning, our expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. It is called the “One McDermott Way.”

Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include approximately 40,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.

Source: McDermott News

ADNOC news

UAE finds new natural gas field between Abu Dhabi, Dubai

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The United Arab Emirates on Monday announced the discovery of a natural gas field containing 80 trillion standard cubic feet of gas between Abu Dhabi and Dubai.

Authorities said the new Jebel Ali field would help the Emirates become more energy independent, as the UAE now imports natural gas from Qatar for electricity.

Leaders of Abu Dhabi and Dubai witnessed the signing of an agreement between Abu Dhabi National Oil Company (ADNOC) and Dubai Supply Authority for the exploration and development of the gas resources.

Qatar has continued to supply its Gulf neighbour with gas via the Dolphin pipeline, despite being blockaded by the UAE and three other Arab nations over a years-long political dispute. 

In June 2017, Saudi Arabia, the UAE, Bahrain and Egypt imposed a land, air and sea blockade on Doha, accusing it of “supporting terrorism”.

Qatar has repeatedly and vehemently denied the allegation.

The agreement with Qatar “reinforces ADNOC’s commitment to ensuring a sustainable and economic gas supply and achieving gas self-sufficiency”, said the firm’s CEO, Sultan al-Jaber.

ADNOC and the Dubai Supply Authority will explore and develop the shallow gas field, which spans some 5,000 square kilometres (1,930 square miles), ADNOC said.

Monday’s statements gave no details on the timeframe for the new gas resources to come on stream or the estimated cost of the projects.

Shallow gas resources are reserves found trapped not too deep from the surface but they need advanced technology for production.

Qatar is the world’s largest liquefied natural gas (LNG) producer.

It produces and supplies the globe with 42 million metric tonnes of LNG annually. Most of this gas is pumped from the North Field, which is part of the world’s largest gas field that is shared between Qatar and Iran.

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Rosneft Prepares to Lead Massive $157 Billion Arctic Oil Project

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Rosneft is preparing to lead an Arctic oil field development project that will cost an estimated $157 billion (10 trillion rubles).

Reuters quoted Russia’s Deputy Energy Minister Pavel Sorokin as announcing the price tag of the Vostok Oil project to media last week, adding that the Kremlin had already agreed on a tax relief package that would help with the Artic oil and gas push.

The Vostok Oil project will include already producing fields as well as untapped ones, and Rosneft will develop them along with partner Independent Petroleum Company. The tax relief for this project alone could reach some $940 million (60 billion rubles) annually, the chief of the tax department of Russia’s Finance Ministry said.

The tax relief package for the energy industry has been the subject of heated debate in political circles because at the same time that the Kremlin is lending its generous support for oil and gas, it is hiking other taxes, on citizens, and extending the retirement age as part of a delayed and highly unpopular retirement system reform.
Alexei Sazanov, the head of the tax department at Russia’s finance ministry, told reporters at the same event on Friday that tax benefits for Vostok Oil could cost up to 60 billion roubles per year. The comments by Sorokin and Sazanov were embargoed until early on Monday.

Russia’s budget surplus, projected at 1.7% of gross domestic product this year, is expected to shrink to 0.2% in 2022, partly due to the various supports offered to the energy sector, a cornerstone of budget revenue.

Source: https://www.rosneft.com/