S02 ORA 6 2020 News 1_ORA Master Template - 2016 New 10/12/2020 14:15 Page 6
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ISSUE 6 2020 • WWW.OILREVIEWAFRICA.COM
Future hydrogen projects could unlock US$400bn of spending for service industry
Siemens, ProFlex partner on pipeline leak detection Image Credit: Rystad Energy Service Cube
RYSTAD ENERGY INDUSTRY analysis reveals that green and blue hydrogen projects that are poised to be developed could unlock US$400bn worth of spending for the service industry between 2020 and 2035. Of the total pipeline, Rystad Energy has recently projected that around 30GW of green hydrogen capacity is expected to be operational by 2035. Blue hydrogen initiatives are also growing in popularity, with several mega-projects being discussed at present. For all of these planned projects to be realised, substantial investments would need to be made over the next few years. For the projected development that Rystad Energy expects through 2035, as much as US$400bn worth of investments would need to be deployed into the hydrogen market globally. The figure excludes separate carbon capture and storage
Rystad Energy projections of hydrogen related spending 2020-2035, in US$bn.
(CCS) development contracts, which could reach US$35bn for Europe alone. Transport and infrastructure will take the largest share, as this market segment is forecast to reach an attractive total of US$130bn. Facility construction costs are next on the list, with suppliers
targeting an estimated US$120bn. Equipment costs will reach some US$70bn, while engineering costs and maintenance, modifications and operations (MMO) will amount to around US$25bn each. All other categories of costs are calculated at below US$10bn per segment.
Eco Atlantic re-issues all Namibia offshore licenses ECO ATLANTIC OIL & Gas Ltd has successfully negotiated the reissuance of its four licences in the Walvis Basin, Offshore Namibia conditional to customary final government signature. The company has agreed
terms and conditions and been awarded the four new Petroleum Exploration Licenses (PELs) on its existing offshore blocks, leading to the expansion of its acreage position. Eco has negotiated the Image Credit: Adobe Stock
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Eco has negotiated the reissuance and establishment of a new 10-year life cycle for each of the four PELs.
reissuance and establishment of a new 10-year life cycle for each of the four PEL’s. Each license has a participation of a standard 10% working interest (WI) with NAMCOR. Eco has also negotiated and established a 5% WI with local Namibian business partners on each block. Azinam Group also participates in a minority capacity on the Cooper, Sharon and Guy Blocks. With the establishment of the new PELs, the company has doubled the size of its Guy block acreage, increasing the potential for new prospective targets in the deeper horizon to the west of the block. The new PELs cover approximately 28,593 sq km, with more than 2.362bn boe of prospective P50 resources.
SIEMENS ENERGY HAS collaborated with Houston-based ProFlex Technologies to provide spontaneous leak detection services for pipeline operators. As part of the agreement, Siemens Energy has exclusive access to ProFlex Technologies’ digital Pipe-Safe advanced leak detection technology. The technology combined with Siemens Energy’s Internet of Things (IoT) system will enable operators to reduce the environmental risk associated with the operation of their infrastructure by minimising unplanned releases of the product to the ecosystem. The solution leverages remote pressure monitoring and complex data processing algorithms to rapidly detect and localise pipeline leaks within +/-20 feet of their location. It is particularly relevant for companies that operate aging infrastructure, enabling detection of small leaks in pressurised lines transporting virtually any type of liquid or gas medium (e.g., natural gas, crude oil, water, petrochemicals, etc.). Specific applications include long-distance oil and gas transmission lines (such as multinode systems); production gathering networks at well sites; and offshore production risers. The pressure pulses generated by the leak are identified, and the location of the leak can be precisely determined. These data can be transmitted to mobile devices or back to a central location using the latest cloud-based technology. Immediate action may be taken to repair the leak.
