OGV Energy - Issue 54 - March 2022 - Innovation & Technology

MAR 2022 - ISSUE AUGUST 2020 54

UK’s No. ENERGY SECTOR

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PUBLICATION

INNOVATION & TECHNOLOGY

GLOBAL ENERGY NEWS

FEATURING

WORLD PROJECTS MAP

Proserv - Stena Drilling Cognite - QHSE Aberdeen - Restrata Net Zero Technology Centre Sword Group - OGA

MONTHLY THEME RENEWABLES INNOVATION & TECH CONTRACT AWARDS DECOMMISSIONING ON THE MOVE STATS & ANALYTICS LEGAL & FINANCE EVENTS COVER FEATURE Proserv’s cutting-edge digital strategy and its disruptive new technology for offshore wind, ECG™, come under the spotlight READ ON PAGE 4

THE INNOVATORS

State-of-the-art simulators dedicated to improving the safety and wellbeing of lifeboat coxswains.

Established in 2013, SAFER Training provides customers with a wide range of tailored services and products that improve the quality, consistency and rigour of competence development, learning content and training delivery - whilst adhering to best practice and international accreditations and standards.

Led by Managing Director, Ian McMillin, SAFER Training is strategically located in Dyce, Aberdeen and works closely with operators in the oil & gas and maritime sectors to provide essential training and consultancy services related to health, safety, and environmental areas.

Consulting with industry, it was clear we needed to invest in a second fully immersive, motion enabled (Free Fall) simulator to in help reduce risk by improving workers' overall competency in a controlled environment. Using the simulators, coxswains can navigate diverse scenarios -which mimic offshore conditions - whilst gaining valuable practical experience without running the risk of injury to the lifeboat operators.

SAFER Training and Virtual Marine are the market leaders setting standards in safety, training and competence of lifeboat coxswains in the Oil, Gas, & Maritime sectors through our state-of-the-art, simulator technology.

SAFER Training's lifeboat simulators are approved by DNV-GL and industry standards body (OPITO) to deliver Offshore Lifeboat Coxswain Further Training (Twin Fall and Free Fall) as well as being recognised by the International Maritime Organisation's STCW and MODU Codes.

Working in partnership with Canadian firm Virtual Marine, the technology allows for more realistic lifeboat training for both offshore and maritime workforces; meaning employees can be better prepared for emergency evacuation situations. Lifeboat Coxswains are exposed to a variety of training outcomes - from time of day and various sea states to varied weather conditions and emergency evacuations - which enable them to improve specific boat handling skills including pre-launch inspections, communications, launching procedures and towing and pacing other vessels under realistic scenarios that the coxswains potentially can encounter offshore.

SAFER Training also offers a desktop simulation model, which is ideal for workplace competence affording repetitive learning and skills development at the user's own pace at their place of work.

Additionally, by adopting the use of simulation there are no constraints as to where or when we can train in a risk-free environment resulting in improved safety for delegates and them having more time at the helm and the advantage of being able to practice various manoeuvres that they cannot normally practice during conventional methods of training due to the inherent risks.

Ian McMillin commented: "In recent years there has been greater focus on competence and maintenance checks when it comes to coxswains and the lifesaving appliances the coxswains are being asked to operate in the event of emergency evacuation from an installation or vessel, which makes our company's focus on critical safety training more important than ever."

BOOK YOUR TRAINING TODAY! T) +44 (0) 1224 467 340 E) info@safer-training.com W) www.safer-training.com

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CONTENTS

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COVER PARTNER

04 - Proserv’s cutting-edge digital strategy and its disruptive new technology for offshore wind, ECG™, come under the spotlight

COMMUNITY NEWS

08 - Latest updates from our OGV Community members

GLOBAL ENERGY NEWS 11 - UK North Sea 14 - Europe 16 - US 18 - Middle East

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08

WORLD PROJECTS MAP

20 - EIC - World's latest project updates

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24

MONTHLY THEME

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22 - Innovation and increased use of technology have become integral parts of the global energy industry in recent years 24 - Cognitte: Data drives more sustainable and profitable industrial operations 25 - Restrata: Cloud technology is breaking barriers to emergency response 27 - QHSE Aberdeen expert: Prepare for the upturn by ensuring compliance

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28 - Stena Drilling: Developing ideas through an innovative culture 29 - Net Zero Technology Centre: Innovation and Technology Closing in on Net-Zero

INNOVATION & TECH ZONE 30 - Cavitas Energy: targeted downhole heating specialist 31 - Aize: Industry software That Solves The Worker’s Problems

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34

OUR DIGITAL INDUSTRY 32 - Sword Group: An interview with a Data-Driven CTO

RENEWABLES 34 - Renewable UK - Building the hydrogen future of Wales and beyond

EVERY MONTH 36 - Contract Awards 38 - On the Move 40 - Decommissioning 42 - Stats & Analytics 44 - Legal & Finance 46 - Community Partner 47 - Events

KENNY DOOLEY MAIN EDITOR Welcome to the March edition of OGV Energy Magazine, where this month we have an “Innovation and Technology” theme.

We are thrilled to be showcasing some of the interesting supply chain technologies that are helping to reduce cost, optimise efficiency and facilitate more sustainable outcomes for the energy sector, in a global geo-political environment that clearly needs support in this area to stabilise its future.

This month we are thrilled to welcome Proserv as our front cover feature and you can read our interview with Director Digital Innovation - Stuart Harvey and Director of BD for renewables - Paul Cook on pages 4 and 5.

We also have insights from the Net Zero Technology Centre, Stena Drilling, the OGA, Restrata, Cognite, Sword Group, QHSE Aberdeen, Cavitas Energy and Aize.

Wish to feature in the upcoming OGV Energy publication focused on NEW ENERGY? Contact us to submit your interest: daniel.hyland@ogvenergy.co.uk

The rest of this month’s magazine as always provides you with a review of the Energy sector in the North Sea, Europe, the Middle East, the US and Australasia along with industry analysis and project updates from Westwood Global Energy Group, the EIC and Renewables UK. Lastly, don’t forget to check out our new ‘OGV Energy Live’ show on March 24th at 2pm where we will be speaking with our contributors to this months magazine in more detail on a live LinkedIn show!

Follow the QR code for more details VIEW THE OGV MAGAZINE ONLINE AT www.ogv.energy/magazine

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COVER FEATURE

AHEAD OF THE CURVE: Proserv’s technology roadmap on the advance

OGV Energy’s Operations Director Dan Hyland talks to Proserv Controls’ Paul Cook and Stuart Harvey about their role in the company’s evolution.

A Proserv technician surveys an offshore wind farm

Last month global controls technology leader Proserv was in the news as it announced another significant win for its team. Followers of the company’s activities might have assumed it was a further success for its subsea business, with its independent and highly reliable control systems, or perhaps for its expanding Middle East topside service operation, regular partners with the region’s NOCs. But no. Proserv had hit the headlines with its first major win for its disruptive holistic cable monitoring system (CMS) for offshore wind – ECG™. The solution has been selected by DEME Offshore to monitor the entire inter-array cabling on phases A and B of the Dogger Bank Wind Farm, set to become the world’s biggest offshore wind farm on completion.

The award marks a real statement of intent for Proserv’s pivot into renewables and its broader technology roadmap, laid down in 2019.

about empowering the engineering teams so they can optimise their campaigns and enhance the performance of assets to give them a competitive edge over other operators.”

Harvey is keen to highlight a new digital offering that he is developing and exemplifies work he is doing on this with a leading independent operator in the Gulf of Mexico. Proserv’s new service will access the operator’s data historian, which stores all information from across the entire asset, and put it to work.

Proserv hit the headlines with its first major win for its disruptive holistic cable monitoring system (CMS) for offshore wind – ECG™

Paul Cook, Director of Business Development – Renewables, and Stuart Harvey, Director of Digital Innovation, are at the heart of Proserv’s push towards a path where digital technology enhances, and extends, its current offering across the energy sector and sustainable energy represents an increasingly central area of activity.

Harvey leads Proserv’s digital-centric strategy for expanding its existing solutions in its current, and potentially new markets, as well as the creation of further revenuegenerating offerings. Building innovative technology tie-ups has been a key focus, with Harvey forging a strategic alliance with Intelligent Plant, a software engineering firm, in late 2020 with open data access and analytics at the heart of their business model.

“Putting data to work means connecting specific applications and configuring them so that analytics are running continually in an automated and disciplined way. It is these analytics which provide the early indicator of something beginning to fail or a piece of equipment performing poorly, or even human error in a process.

“The work doesn’t stop there. We are leveraging innovative human factors design philosophies for HMI (human machine interface) visualisation.”

Harvey emphasises that Proserv recognises the need to reimagine HMIs and visualisation if it is to keep pace with the amount of data modern equipment and systems are now capable of producing.

“We understand there is only so much information a human can absorb effectively and we’re responsible for maximising that performance. It is for that reason we’ve been exploring and adopting new innovative HMI design philosophies such as those used by NASA and SpaceX. “Improvements in human performance delivered by new HMI designs are key if, as an industry, we’re to maximise value from digitalisation. We are already visualising 40% more data points on an HMI compared to legacy designs while at the same time seeing users’ response times, engagement and technical understanding significantly improve.”

All about the data There is an established logical sequence around effective real-time monitoring of an asset’s condition and integrity, providing insights on the information received and then the ability to take proactive decisions and action, ahead of time, to optimise and maintain performance – but for Harvey the glue that binds all this together is real-time quality data, and lots of it: “Our philosophy is to continually analyse data with the objective of detecting events before they reach the control room. Our intention is to support operators with early route cause analysis and interception strategies. Ultimately, it is

www.ogv.energy I March 2022

Proserv team members working on one of the company's monitoring solutions

COVER FEATURE which operate in silos and process data in isolation, lacking real-time monitoring and effective, intuitive data interpretation. These leave operators with only a limited view of cable condition and integrity, thus impacting their decision-making abilities around maintenance and operational expenditure.

By contrast, ECG™ harnesses synchronous, real-time monitoring across multiple assets, and continuous automated data analysis. Uniquely, the solution offers electrical distributed sensing due to Synaptec’s passive electrical and mechanical sensor systems. As ECG™ continues to evolve, machine learning will be applied to detect small deviations in cable performance, even within normal operating parameters, indicating potential future issues requiring action.

Proserv’s holistic system answers a “critical need” in the market according to Cook and ScottishPower Renewables has thrown its weight behind the technology in the form of industrial sponsorship.

Stuart Harvey, Director of Digital Innovation, Proserv Controls

Proserv is known for its independence and flexibility and Harvey’s new digital offering reflects the company’s ethos:

“I see ECG™ as becoming the go-to technology for monitoring subsea cables within offshore wind and being the default standard for the whole methodology.

There is no defined standard right now, and traditional approaches are simply not adequate. This is why up to 80% of insurance claims in the industry are attributed to cable faults. So, we need to bring in a solution that will act as a differentiator.”

Cook says the contract win on such a landmark project as Dogger Bank should act as a “catalyst” for ECG™ across the wider sector:

“We have a world-class EPCI company as our direct customer, in DEME Offshore, “This approach and service is entirely OEM agnostic and and we have two major offshore wind developers and operators in SSE and can be applied across any legacy system. It is flexible Equinor adopting this technology as a world first. too: we can simply provide notifications of anomalies picked up through the data, or we can couple that with domain knowledge and personnel, around control “These guys are leading the field in adopting new innovations logic enhancement, for instance. We have tuned to get offshore wind where it needs to be regarding lowering the control logic on compressor systems The crossover costs, helping to reduce CO2 emissions and increasing safety. to enhance performance and reduce CO2 Dogger Bank stands as a blueprint for the application of new, between Paul Cook and emissions.” bold technologies that will essentially drive this segment Harvey stresses the digital service applies as much to greenfield sites as mature ones, and offers an opportunity for offshore wind:

Harvey’s priorities is strong, with real-time data capture underpinning meticulous monitoring and potential

forwards.”

For both Proserv colleagues challenging established thinking and offering disruptive new methods can face some initial hesitancy but Stuart Harvey observes that “attitudes are changing and a more open, agnostic approach is building around data access and technology.”

“Could you imagine if we had deployed modern analytics technologies on O&G intelligence outputs assets when they were installed 40 years ago?

Paul Cook believes such philosophies are vital, “It's easy to say, The millions of dollars that could have been ‘we've done it like this before, so we’ll do it like that again because saved on life extension studies and inspections. we know what to expect’ but that stifles innovation and Perhaps that’s something for the renewables industry to stifles progress.” consider? As I fully expect wind turbines being built today with a 25-year design life to have that extended to 30 years plus, and to do this safely and cost effectively we need to be analysing the data now.”

An ECG™ for cable assets The crossover between Paul Cook and Harvey’s priorities is strong, with real-time data capture underpinning meticulous monitoring and potential intelligence outputs. Collaboration has also been integral to Cook’s development of the ECG™ CMS. Cook suggests a technology consortium alongside Synaptec and BPP Cable Solutions, driven by Proserv, has represented the very best of innovation: “There is virtually no crossover between the three companies; we are very much experts in our respective domain fields but what brings us together is one common area: cables.

“Proserv is not historically a cables company but what we do have is expert knowledge in system integration, sensors, software and data. Likewise, for Synaptec, power system networks, instrumentation applied to high voltage cables, and then BPP Cable Solutions, with real, expert domain knowledge in cable data interpretation and condition.”

The partners have combined their skills to supply a technology far superseding current traditional systems

Paul Cook, Business Development Director - Renewables, Proserv Controls

Providing leading controls technologies to enhance performance, optimise assets and extend life right across the energy sector.

For more information visit: www.proserv.com

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Petrofac awarded 2 Contracts worth $100m Petrofac, a leading provider of services to the global energy industry, has been awarded two new contracts with Cairn Oil & Gas, Vedanta Limited, India's largest private oil and gas exploration company. With a combined value of approximately US$100 million, the wins include Petrofac's first significant Operations and Maintenance (O&M) contract in-country; evidencing its geographical growth strategy in action.

Uganda Contract Marks Important First For Enerquip An Aberdeen-based company which specialises in the manufacture of torque machines has marked a significant landmark by securing its first ever contract to supply equipment to Uganda. Building on a successful end to 2021 which included securing $2 million of deals, Enerquip has further strengthened its export credentials by securing a $500,000 scope of work to supply an existing customer in a new location with a containerised make-up and breakout unit. It is expected that the contract will not only secure jobs at Enerquip’s Aberdeen and Caithness premises, but also accelerate an ongoing recruitment drive which particularly seeks technical engineering and design personnel to help fulfil an already healthy 2022 order book.

STC INSISO announce successful first year following merger Aberdeen-based STC INSISO has reported a turnover figure of £3.8million in their first year since STC Global and INSISO merged in early 2021, an increase of £1million compared to the separate companies combined previous years.

The amalgamated problem-solving company has welcomed 14 new clients over the past 12 months, including HS2 Euston, East West Rail, Peel Ports and Sky Futures.

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Selected by Cairn to provide integrated O&M services in support of its upstream oil and gas facilities, Petrofac will supply expertise at the Ravva Oil and Gas field in the Krishna Godavari Basin, in coastal Andhra Pradesh. The duration of the contract is four-years, with an option to extend by 12 months.

The scope of work includes full O&M of the facility, including offshore platforms, subsea pipelines and the onshore processing terminal.

Cairn has also selected Petrofac to undertake a lump-sum engineering, procurement, and construction (EPC) project to support the provision of Well Hook– up and Surface facilities for the Raageshwari Deep Gas (RDG) Field, in Barmer, Rajasthan. Executed on a fast-track basis, the main scope of work includes bringing online additional wells, augmentation and modifications to handling and treatment facilities including electrical, instrument control, and safety and protection systems. This follows a previous lump-sum EPC contract, valued at approximately US$233 million, which Cairn awarded to Petrofac in April 2018 for its RDG Field Development Project. This was safely and successfully completed, with the plant's 72-hour Performance Guarantee Test Run in June 2021.

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Nick Shorten, Chief Operating Officer for Petrofac's Asset Solutions business said: "The award of these contracts both deepens our footprint in India and supports the geographical growth of our Asset Solutions business, as it leverages more than 25 years of operations and maintenance expertise in India for the first time.

We look forward to supporting Cairn through the safe and high-quality execution of these latest scopes which, in line with our local delivery model, will be supported by our world class engineering centres in Chennai and Mumbai."

Speaking on the contracts, Prachur Sah, Deputy Chief Executive Officer, Cairn Oil & Gas, Vedanta Ltd. said: "Petrofac has earned a global reputation for its engineering excellence in execution of projects for the upstream oil and gas sector.

Cairn's association with Petrofac furthers our longterm vision of optimisation of asset operations and achieving profitability. We are confident that this partnership will further strengthen our execution and operational excellence, enabling us to actualise our vision of adding 500 kboepd and doubling domestic crude production capacities."

Hiretech Strategy Focuses On Growth

Maritime Developments (MDL) is manufacturing a new 4-track tensioner to support global pipe and flex lay operations.

Aberdeenshire based rental firm Hiretech Limited has made a number of key strategic developments as it focuses on continued growth for 2022.

The system is based on MDL’s patented and DNVapproved TTS-4/140 Tensioner Series design, with upgrades to increase handling capacity.

The company, which offers equipment rental and personnel supply to support hydraulics, well service, pipeline, chemical cleaning, decommissioning, subsea and renewable activities, is focusing on increasing market share both in the UK and overseas.

With significant overseas trade achieved to date across Africa, the Caspian, South East Asia and the Middle East, Hiretech is committed to further increasing its foothold in the international market, to over 40% towards its annual turnover. The firm has been pursuing strategic global partnerships to support its overseas ambitions.

The design upgrades include an extended track contact length of 4.074m, together with increased squeeze capability of 44.7-tonne per meter per track, which allows for an increased line pull capability of 51-tonne and an improved coefficient of friction (CoF) of 0.07.

Exceed Managed Pressure Resources reports “strong, sustainable” growth in 2021 Exceed Managed Pressure Resources, the Managed Pressure Drilling (MPD) arm of Aberdeenheadquartered well management and performance improvement specialist Exceed, has announced a 230% rise in revenue during 2021.

The Lowestoft-based company, established by MPD experts James Parr and Jim Doran in 2016, was acquired by Exceed in 2019.

Global growth prompts graduate recruitment at Salus Technical Since launching its software solution for streamlining risk assessment last year, process safety firm Salus Technical has broadened its customer base across a range of major hazard industries around the globe, and now counts users of its cloud-based software across 6 different time zones, including South America and New Zealand. The firm’s consultancy services are also sought-after, with contracts signed to support operators and service companies with process safety training and operations across the UK.

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ENERGY NEWS

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MARCH 2022

UK NORTH SEA

Energy Review

By Tsvetana Paraskova

Contracts and project developments, calls for a windfall tax on North Sea operators, and the need of more domestic oil and gas supply to ensure energy security were key themes in the UK offshore industry this past month.

Following the bumper profits bp and Shell announced for 2021, in bp’s case, the highest annual profit in eight years, calls from environmental campaigners and the opposition Labour Party intensified on the UK government to impose the so-called windfall tax on North Sea operators, to help raise more revenues for mitigation of the soaring energy bills for households.

“These profits are a slap in the face to the millions of people dreading their next energy bill.

BP and Shell are raking in billions from the gas price crisis while enjoying one of the most favorable tax regimes in the world for offshore drillers. And these are the same companies responsible for pushing our world closer to catastrophic climate change. This isn't right,” Greenpeace UK’s head of climate Kate Blagojevic said in a statement.

Rachel Reeves, Shadow Chancellor of the Exchequer and Labour MP for Leeds West, said that while bp announced their highest profits in 8 years, many people’s energy bills hit the roof and called for the government to back Labour's plan for a one-off windfall tax on North Sea oil and gas producer profits.

Scotland’s First Minister, Nicola Sturgeon, backed the idea of a windfall tax, saying that energy firms posting massive profits should “absolutely” pay more.

“I want the chancellor and the UK government to be looking at all options,” Sturgeon said.

The UK government opposes a windfall tax on energy producers.

A windfall tax on oil and gas will not solve the energy crisis, Tim Eggar, chairman of the Oil and Gas Authority (OGA), wrote in an op-ed in the Daily Telegraph in early February.

“A windfall tax would not have tackled the global supply and demand dynamic that caused prices to spike. It would have weakened industries’ ability to invest in delivering the gas we rely on to heat our homes, but also in the renewable energy projects we badly need to reduce this dependence,” Eggar wrote.

“Gas produced in the UK has less than half the emissions of imported LNG, generates tax receipts and employment opportunities, and enhances our security of supply in an increasingly unstable world,” OGA’s Chairman noted.

UK Business and Energy Secretary Kwasi Kwarteng supported the North Sea oil and gas industry, saying on 9 February “Turning off North Sea oil and gas would put energy security, British jobs and new industries at risk - and we’d just end up importing more from abroad. This has to be a transition, not extinction.”

Continues >

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ENERGY NEWS

UK North Sea

On 14 February, the offshore energy industry’s leading trade body started its next phase and rebranded to Offshore Energies UK. This move sees OEUK evolving its oil and gas remit to also champion the interests of members in hydrogen, carbon capture and storage and offshore wind, the association said.

Petrofac to support future well construction and intervention campaigns, the service provider said.

TotalEnergies has signed an agreement to sell to Kistos Energy Limited a 20-percent interest in the Greater Laggan Area fields and in the Shetland Gas Plant in the UK, as well as interests in several nearby exploration licenses, the French major said on 31 January. The Greater Laggan Area comprises the Laggan, Tormore, Glenlivet, Edradour, and Glendronach fields, located around 140 kilometres west of the Shetland Islands.

Development of the fields was launched in 2010 and production start-up was achieved in 2016. Production from the 20-percent interest sold to Kistos Energy Limited was about 8,000 barrels of oil equivalent per day in 2021, TotalEnergies said.

Offshore Energies UK’s members will continue to produce the oil and gas the UK will still need to support its energy security, as well as jobs and the economy. “However, these companies are also already involved in some of the most cutting-edge low carbon projects across the country, including HyNet North West, Acorn Hydrogen & CCS, Equinor’s Dogger Bank wind farm, West Anglesey Tidal Energy Project, Hywind Scotland, Drax Zero Carbon Humber Projects, OGCI Climate Investments and Net Zero Teesside,” OEUK said.

“Our members are now building on their oil and gas heritage to make the UK a global centre of green energy excellence that will help achieve net zero, while powering homes and industries,” said Deirdre Michie OBE, Chief Executive of Offshore Energies UK.

Engineering and maintenance contractor Bilfinger UK has secured a major contract to deliver fabric maintenance campaign services on TotalEnergies’ Elgin and Franklin platforms in the UK Central North Sea. The contract supports a 270-day campaign on the installations and will start in March 2022, creating 300 fixed-term positions, said Bilfinger, which will provide fabric maintenance, scaffolding, and rope access personnel.

“While our members are accelerating these newer energies, they will also dramatically reduce the emissions associated with producing the oil and gas that will continue to be an essential part of the UK’s increasingly diverse energy mix,” Michie added.

In company news, the fracking controversy in the UK ended after Cuadrilla said it would plug and abandon the UK’s only two horizontal shale gas wells, as ordered by the Oil and Gas Authority.

Cuadrilla’s parent company AJ Lucas announced on 9 February that Cuadrilla would permanently seal the two shale gas wells drilled at the Preston New Road (PNR) Lancashire shale exploration site, despite concerns about the impact this will have on energy supply.

“Shale gas from the North of England has the potential to meet the UK’s energy needs for decades to come, yet ministers have chosen now, at the height of an energy crisis, to take us to this point,” Cuadrilla’s chief executive officer Francis Egan said in a statement.

Decom Engineering have invested over £250,000 in the opening of a new 6,000 square feet facility in Aberdeenshire. The company will use the new base for equipment testing and storage, hosting customer trial days, and will enable faster deployment of assets and services to its clients working in the UK North Sea, Decom Engineering said at the end of January.

International service provider to the energy industry, Petrofac, announced at end-January a five-year contract extension for Well Management and Well Operator Services with NEO Energy. Petrofac will provide a five-year framework for Well Management and Well Operator support for 27 wells across the Affleck, Balloch, Dumbarton, Lochranza, and Finlaggan fields located in the UK Central North Sea. The contract also positions

Tim Eggar, OGA Chairman

"Gas produced in the UK has less than half the emissions of imported LNG, generates tax receipts and employment opportunities, and enhances our security of supply in an increasingly unstable world,"

Stena Drilling has signed a contract with TotalEnergies for the mobile offshore drilling unit Stena Spey. The operations for Stena Spey in the UKCS are expected to begin between 16 March 2022 and 15 April 2022, with an estimated total scope duration of 120 days, Stena Drilling said on 11 February.

Norwegian oil and gas operator DNO ASA said in its 2022 spending and outlook update that it would participate in drilling the highly anticipated Edinburgh exploration well in the UK and six additional prospects offshore Norway this year.

Hibiscus Petroleum expects that a joint project team based in Aberdeen will be formed in March 2022 to progress the development to first oil at the Marigold Cluster in the UK North Sea. The first oil date for phase 1 of the joint development is now expected to be late 2024 at the earliest, Hibiscus Petroleum said in a Corporate and Business Update on 17 February. The development of the Sunflower and Kildrummy discoveries are planned as tiebacks to the Marigold infrastructure in subsequent project phases, the company said.

Neptune Energy announced on 22 February a series of contract awards totalling nearly £3 million to support ongoing operations at its operated Cygnus Alpha and Bravo platforms in the UK Southern North Sea. The awarded work scopes cover diving support vessel services, helicopter services, and general inspection activities. The work will support maintaining high levels of gas production from the facility, which is capable of producing 6 percent of UK domestic gas demand, Neptune Energy said.

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Gartner’s Future of Sales research shows that by 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.

This is because 33% of all buyers desire a sellerfree sales experience – a preference that climbs to 44% for millennials.

Remember, this is across sector, this is relevant to all of us who rely on selling products and services to other businesses.

Our research has found commonality in the basic aims of any business we have worked with, across all sectors.

Over the last few years, we’ve collated enough data to be able to condense this down in to 4 key areas that every business wants: • • • •

Access to target markets Credibility in those markets Meaningful connection with prospects Commercial Interaction

Connecting and building relationships with key people – we do this at scale and with strategy… another step up.

Then we build in influence. Creating rich and diverse content which educates, inspires, challenges and entertain our growing network and engage in conversation with key people. All of you are doing this, not just the marketing or salespeople…the whole team.

The 2021 LinkedIn-Edelman B2B thought leadership impact report is an excellent report which saw Edelman and LinkedIn collaborate on the fourth annual B2B Thought Leadership Impact Study to examine how thought leadership influences perception and buying behaviours among B2B decision-makers (link below).

The report says…

"64% of buyers say that and organisation thought leadership content is a more trustworthy basis for assessing its capabilities and competency than its marketing materials and products sheets".

It goes on to say…

These 4 basic requirements are the roots of all B2B business success and in 2022 this is anchored in how we use Social Media.

“63% of buyers also say that thought leadership is important in providing proof that an organisation genuinely understands or can solve your business challenges".

Now more than ever, it's time to put a digital first strategy in place and that means you and your team becoming expert in Social Selling & Influence on Social Media.

Social Selling & Influence is about mobilising your team’s presence and behaviour on Social Media to build influence, make connections, grow relationships and trust, which leads to conversations, commercial interaction, and growth.

Then we start growing your network.

Your buyers want your team’s thought leadership, we can’t hope to achieve this level of connection and qualification with brochures and flyers.

This needs new thinking and a new approach.

Eric Doyle

All of this must be tethered to commercial interaction and growth. Every keystroke that you and your team make on social media should be anchored in strategy, speak to a defined financial outcome, and be linked to its attribution in pipeline. We must be able to link all we are doing in marketing to an attribution in our pipeline and Social Selling & Influence is the leading measure.

You start to take control of the digital narrative in your chosen sectors – We call this ‘Digital Dominance’.

This is about affecting real a real business transformation, to make a valuable, measurable, and scalable contribution to the revenue and ebitda profile of your business, we need habits and behaviours to change.

We need new process, new language, a new framework, new thinking, and new action.

In the past, large companies held the advantage in marketing…. they could afford to spend more money so they would scoop up all the prime advertising space, have the biggest stand the show and appear in the centre features of every important trade journal.

It all starts to build:

Times have changed…. People are winning the battle of the brands and they are doing it on Social Media.

This means if you and your colleagues are being smarter with Social Media, you can and will take ownership of the digital share of voice in your sectors.

It all starts with a strategy.

We set a strategy that builds you and the team towards a position of digital dominance. We outline the barriers and the levers, we highlight the assets, and we create a Social Media mission for the team.

We optimise the profiles of the team. This means their profiles will be buyer centric and digitally optimised, they will have profiles that are working for them when they are asleep.

•

Qualified relevance - Your marketplace recognises and your team.

•

Trusted advisor status - You are recognised as experts.

•

Pipeline, growth & inbound - More opportunities.

•

Recruitment opportunities – People want to work with Social organisations.

A significant difference we see with companies who are Social Selling & Influence is the whole team approach.

The whole team creating influence and connecting with people who can buy your products or services, people who can influence an engagement and people who can amplify your message.

The results? Increased pipeline and reduced costs…and all of that whilst eating into the market share of your competitors.

In 2022 its important you give your team all the digital skills they need to network, protect, and close business online, regardless of your sector.

Eric is a Co-Founder of Crux Consultancy Limited who train and coach cross sector B2B teams in the art and science of Social Selling & Influence. www.consultcrux.com

BRENT OIL PRICES OVER THE YEARS March Review

1

YEAR AGO

- BRENT OIL PRICE 2021 - $68.00 The UK Government offered to help the North Sea oil and gas industry with a joint investment of up to £16bn to help support 40,000 North Sea jobs. In return, the industry promised to cut down carbon emissions by 50% by the end of the decade. As part of this, ministers would allow oil drillers to keep exploring the North Sea for new reserves.

5

YEARS AGO

- BRENT OIL PRICE 2017 - $51.19 ConocoPhillips agreed to sell oil sands and western Canadian natural gas assets to Cenovus Energy Inc for $13.3 billion. This seen Calgary-based Cenovus double their production to the equivalent of 588,000 barrels of oil per day.

The North Sea is a crown jewel for the UK’s economy but following a crash in 2014, the sector had been hurting over the past few years. However, in March 2017 there was more optimism as Oil & Gas UK claimed that operators in the North Sea would start seeing profits again.

10

YEARS AGO

- BRENT OIL PRICE 2012 - $127.96 A record-breaking month saw the price of oil per barrel reaching the heights of $127.96 which also caused complaints about the price of gas/petrol. Petrol prices in the UK hit record prices (breaking the £1.40 mark) with stations running out.

In the United States, Barack Obama continued to come under fire over their own rising ‘gas’ price – reaching $3.87. This issue was causing concerns over Obama’s chances of a second term in the White House.

14

ENERGY NEWS

Oil & Gas Germany halted the Russia-led gas pipeline project Nord Stream 2 after Russian President Vladimir Putin recognised two separatist regions in eastern Ukraine and deployed troops there.

“We now have to reassess the dramatically changed situation: This also applies to Nord Stream 2,” German Chancellor Olaf Scholz said on 22 February, adding that “The certification cannot take place now.”

The pipeline construction is complete, but Nord Stream 2 was awaiting regulatory clearance from Germany and a review by the European Union over its compliance with EU energy regulations. In wake of the escalation in Ukraine, Germany suspended the certification process.

Italy’s Eni and Point Resources Holding, shareholders of Norwegian oil producer Vår Energi AS with 69.85 percent and 30.15 percent, respectively, said at the end of January they intend to launch an initial public offering for Vår Energi and for the company to apply for a listing on Oslo Børs. The IPO will provide access to the Norwegian and international capital markets, allow the company to diversify its ownership structure, and create a strong long-term shareholder base, Eni said.

“The operation is part of Eni's strategy of enhancing its assets in order to free up new resources to be allocated to accelerate the energy transition strategy,” the Italian major noted.

Norway’s Minister of Petroleum and Energy, Marte Mjøs Persen, officially opened Equinor’s Martin Linge field, which came on stream in June 2021.

“The field is now producing very efficiently.

With current prices, investments in the field will be recovered in full during 2022,” said Equinor’s CEO Anders Opedal.

In a setback for its LNG project, Equinor announced at the end of January that the start-up of Hammerfest LNG plant was pushed from 31 March 2022 to 17 May 2022, “due to continuing consequences from Covid-19 and operational restrictions.”

Equinor also said that the Wisting project in the Barents Sea is expected to take up investments in the range of NOK 60 – 75 billion ($6.7 billion - $8.4 billion) as it presented an impact assessment of the field’s development and operation. Equinor expects to finalise the development and operation (PDO) plan at the end of 2022. The Wisting discovery is of considerable size, containing close to 500 million barrels of oil equivalent, the company says.

“The chosen concept is robust and adapted to Barents Sea operation, while at the same time well suited for Norwegian suppliers to be able to compete for major assignments,”

www.ogv.energy I March 2022

Europe

Energy Review

By Tsvetana Paraskova

New oil and gas projects in Norway’s offshore industry and many green energy developments across the UK and Europe were the highlights in the energy sector in Europe over the past month, as tensions remained high in the Russia-Ukraine crisis. said Siv Irene Skadsem, vice president for new assets on the Norwegian continental shelf (NCS).

Another major producer on the NCS, Aker BP, said in early February that the Norwegian Ministry of Petroleum and Energy had approved the Plan for development and operation for Kobra East & Gekko (KEG) in the Alvheim area. The KEG development will help extend the lifetime of the Alvheim field, improve production, and reduce unit costs, said Aker BP, operator of the field. Total investments in the project are expected at around NOK 8 billion (close to $1 billion) and production is scheduled to start in the first quarter of 2024. Recoverable reserves in KEG

are now estimated at around 50 million barrels of oil equivalents.

Aker BP plans to drill 13 exploration wells in 2022, with unrisked volume potential estimated to around 250 mmboe net to Aker BP, the company said in its Q4 results and 2022 outlook release.

Services provider Aker Solutions raised its 2022 full-year guidance as it expects a tight supply-demand balance to result in an attractive investment environment for the company’s customers, supported by greater confidence in the oil-price environment. Based on the secured backlog and market activity, revenue is now seen up by more than 20 percent from 2021.

Europe Low-Carbon Energy

Additional policy is needed for large-scale deployment of LDES in Great Britain, the report found. In addition to direct support such as establishing an adapted Cap & Floor mechanism, investments in LDES can be enabled by reforms to strengthened market signals, the research said.

The number of green jobs in Scotland has fallen in recent years, according to data from the Office of National Statistics (ONS) through 2020.

The report was commissioned by Engie, SSE, National Grid ESO, Copenhagen Infrastructure Partners (CIP), Highview Power, Foresight, Gilkes Energy, Drax, Invinity Energy Systems, Field, and Intelligent Land Investments Group.

The number of estimated full-time equivalent jobs in Scotland’s “low carbon and renewable energy economy” fell from 21,700 in 2019 to 20,500 in 2020, a figure which is down from 24,000 back in 2016, the Low Carbon and Renewable Energy Economy Survey showed.

In company news, Nuseed and bp entered into a 10-year strategic agreement enabling Nuseed to accelerate the expansion of its Nuseed Carinata sustainable production program. Under the agreement, bp, or its affiliates, will purchase Nuseed Carinata oil to process or sell into growing markets for the production of sustainable biofuels.

The Scottish Trade Union Congress (STUC) called for actions to boost green job growth.

“Workers were promised the Saudi Arabia of renewables, but all they got was a desert,” STUC General Secretary Roz Foyer said.

“We are getting sick and tired of reading promises of a bright new green jobs future when the truth is we have fewer than we did eight years ago, and the number continues to fall.”

The UK and Scottish governments announced on 14 February an agreement to establish two new Green Freeports in Scotland.

bp has also bought a 30-percent stake in Green Biofuels Ltd (GBF), the UK’s largest provider of hydrogenated vegetable oil (HVO) and will work with the company to help decarbonise businesses across the construction, freight, off-road, and marine industries.

Aberdeen City Council’s city growth and resources committee decided in early February to pick bp to be the Joint Venture partner to deliver the ambitious Aberdeen Hydrogen Hub which will build a solar power facility connected to a green hydrogen production and refuelling facility.

Crown Estate Scotland announced on 22 February the proposed details of its Innovation and Targeted Oil and Gas (INTOG) offshore wind leasing process. Under this process, developers will apply for the rights to build small-scale innovative offshore wind projects of less than 100 MW, as well as larger projects connected to oil and gas infrastructure, to provide electricity and reduce the carbon emissions associated with those sites.

Eni UK has signed 19 memoranda of understanding (MoUs) with as many companies interested in the opportunity to have their emissions captured, transported, and stored in Eni UK’s depleted hydrocarbon reservoirs as part of the HyNet North West project, the Italian energy firm said in early February.

The European Parliament called for increasing offshore renewable energy sources in a report MEPs voted in mid-February on how to deploy offshore wind more quickly.

ILI Group has started the initial planning phase for a Pumped Storage Hydro project at Loch Awe, which will be able to supply 1.5 GW of power for up to 30 hours, enough to power 4.5 million homes and could offset 200 Million tonnes of CO2e over its lifetime.

The report stresses that meeting the 2030 and 2050 targets requires faster deployment of offshore renewable energy, but maritime space and coasts must be managed more sustainably, the European Parliament said.

The UK and Scottish governments announced on 14 February an agreement to establish two new Green Freeports in Scotland. The new hubs will support the regeneration of communities across Scotland and will bring jobs and prosperity, the UK government said, adding that the Green Freeports will have net-zero targets at the heart as prospective bidders will have to make a pledge to reach Net Zero by 2045.

“Major sea port operators are absolutely committed to developing freeports that deliver regeneration, high quality jobs and support the transition to a net-zero economy,” said Tim Morris, CEO of the UK Major Ports Group, which welcomed the agreement.

The UK will need up to 24 GW of Long Duration Electricity Storage (LDES) – equivalent to eight times the current installed capacity – to integrate wind power into a secure Net Zero electricity system, a new report from Aurora Energy Research showed in February.

Lightsource bp targets to increase its presence in Italy by investing in the country’s Central North regions. Lightsource bp, an equal joint venture between Lightsource and bp, has signed partnerships with Solar IT and TEP Renewables for a total of 400 MW of photovoltaic projects, of which 163 MW are expected to enter into operation between 2023 and 2024.

Octopus Hydrogen and BayWa r.e. have agreed to collaborate on innovative green hydrogen production facilities at renewable project sites across the UK. The strategic partnership will see Octopus Hydrogen install electrolysers, compression, and mobile hydrogen storage alongside selected BayWa r.e. solar and wind projects.

Tim Morris

Neptune Energy and RWE are accelerating green hydrogen production in Dutch North Sea by agreeing to develop the offshore green hydrogen project "H2opZee" ahead of 2030. H2opZee is a demonstration project which aims to build 300-500 MW electrolyser capacity in the North Sea to produce green hydrogen using offshore wind. The hydrogen will then be transported to land through an existing pipeline.

Sweden’s Vattenfall and Norwegian company Seagust have formed a joint venture to bid for offshore wind areas in Norway’s upcoming licensing rounds expected to take place this year. The joint venture intends to bid on licences in both the Utsira Nord and Sørlige Nordsjø II areas in the North Sea. The joint venture represents Vattenfall’s entry into the Norwegian wind power market.

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ENERGY NEWS

US

ENERGY REVIEW

By Tsvetana Paraskova

US oil and gas production is rising as prices rally and private shale firms boost capital spending and output. The biggest shale play, the Permian, is seeing record-high crude oil production, while overall US crude output is set to average an all-time high in 2023, the US Energy Information Administration (EIA) says.

However, cost inflation, labour shortages, and the pledge from many large public independent producers not to boost oil production by more than 5 percent annually could spoil the more optimistic estimates of US output growth this year and next.

www.ogv.energy I March 2022

US US Oil & Gas Production Rising Chevron’s CEO Mike Wirth said on the Q4 earnings call that the supermajor’s production in the Permian would rise by around 10 percent this year compared to 2021.

ExxonMobil, for its part, raised its production in the shale play from 2020 to 2021 by over 25 percent, chief executive Darren Woods said, adding that “Our expectation, as we go into 2022, is to grow another 25%.”

Exxon’s production in the Permian rose by nearly 100,000 oil-equivalent barrels per day to around 460,000 bpoed in 2021.

Private operators are also boosting production, as they are not constrained by Wall Street to keep spending in line.

“This group – which we refer to as ‘Private Drillers, Inc.’ – controls only 15% of Permian oil production, but has been the main growth driver since the 2020 crash,” says Pablo Prudencio, Senior Research Analyst, US Lower 48 Supply, at Wood Mackenzie.

Private operators have grown their production since the initial COVID-induced crash, but the already depleted drilled but uncompleted (DUC) well inventories and rising service costs could moderate the Permian production growth, WoodMac said in a recent report.

As public operators focus on returning more cash to shareholders and heed Wall Street’s concerns, the private producers saw the window of opportunity to grow their production.

“As a result, private operators have grown in scale and now control enough production to influence the trajectory of future Permian supply,” WoodMac’s Prudencio said.

However, private operators alone will not control enough production to have a sizeable impact on oil prices, the consultancy notes.

Low DUC inventories, financing, and potential M&A will be the key factors that would determine the pace of output growth from private operators this year, according to WoodMac.

Large Public US Independents Hold The Line While private firms drill more, many of the large listed independents, including Pioneer Natural Resources and Continental Resources, say they will not boost spending and production above the already announced targets, even at record-high triple-digit oil prices.

Pioneer Natural Resources' chief executive Scott Sheffield said on Pioneer's call on 17 February, referring to production growth: “Long term, we're still in that 0% to 5%. It's going to vary. We're not going to change, as I said, at $100 oil, $150 oil, we're not going to change our growth rate. We think it's important to return cash back to the shareholders.”

“In regard to the industry, it's been interesting watching some of the announcements so far, the public independents are staying in line.

I'm confident they will continue to stay in line,” Sheffield said.

“People that are growing at 15% to 20% are going to run out of inventory fairly quickly,” the executive added.

Continental Resources CEO Bill Berry said on the Q4 earnings call in mid-February: “We project generating flat to 5% annual production growth over the next five years as we have previously noted.”

According to WoodMac’s Pablo Prudencio: “Public independent operators’ drilling budgets remain stubbornly inelastic to rising oil prices, as all focus has shifted to improving financial health, generating free cash flow and returning cash to investors.”

Production Records

17

New wells are expected to break the 1,000 boepd threshold in 2022 for the first time on record, rising from the 974 boepd achieved in 2021.

“Average daily production levels have steadily climbed since 2010, closely aligned with the horizontal well length, which is expected to reach 9,500 feet in 2022,” Rystad Energy says.

“The Permian is now entering a three-mile lateral era. Such long wells were viewed as inferior for their high finding and development costs in some deeper zones just a few years ago, but modern equipment and completion methods allow extended reach wells to spread across the entire basin,” noted Artem Abramov, head of shale research at Rystad Energy.

Supply Chain Bottlenecks, Cost Inflation Could Slow Growth If oil prices reach and remain at around $100 a barrel – a possibility that many analysts are now entertaining – US tight oil production could grow by up to 2.2 million bpd, Rystad Energy forecasts.

Still, US crude oil production is forecast If oil prices reach and remain around to rise to an average of 12.0 $100 per barrel, total production million bpd in 2022, and to from the core shale regions 12.6 million bpd in 2023, – the Permian, Eagle Ford, which would be recordNiobrara, Bakken, and high production on an New wells are Anadarko – would hit annual-average basis. expected to break the 9.9 million bpd by the The previous annual fourth quarter of 2023, average record of 1,000 boepd threshold marking a 2.2 million 12.3 million bpd was bpd surge from the in 2022 for the first set in 2019, the EIA same quarter in 2021, said in its Shorttime on record, rising according to Rystad Term Energy Outlook Energy.

(STEO) for February. from the 974 boepd

achieved Natural gas production is set to average 96.1 Bcf/d for all of 2022, driven by natural gas and crude oil price levels that the EIA believes will be sufficient to support enough drilling to sustain production growth. EIA expects production to rise to an average of 98.0 Bcf/d in 2023.

US liquefied natural gas (LNG) exports are also on a growing trajectory, expected to average a record 11.3 Bcf/d for 2022, up by 16 percent compared to 2021. The forecast reflects EIA’s assumptions that global natural gas demand would remain strong and that expected additional US LNG export capacity would come online.

Natural gas liquids (NGL) output from processing plants in the US hit a new record high in November 2021, reaching 5.84 million barrels per day (bpd) as a result of a recovery in Gulf of Mexico supplies after Hurricane Ida and improved ethane recovery, Rystad Energy said in early February. This surge has helped push total US hydrocarbon liquids output to more than 17.3 million bpd, almost back to pre-Covid-19 levels, the independent energy research company said.

New well productivity in the Permian will also set a record this year, following a jump in lateral well length, Rystad Energy research showed at the end of January.

in 2021.

However, supply chain bottlenecks, soaring prices of frac sand, skilled labour and trucker shortages, and cost inflation could slow growth, the energy research firm says.

“Although high prices would in theory trigger a burst in tight oil production, acute supply chain bottlenecks, a lag between price signals and its impact on production, and winter weather-related disruptions will slow growth.

Added to this are expectations that spot sand prices will rise to a $50-$70 per ton range – a level unheard of in the industry’s modern history – which will hit operators’ wallets,” Rystad Energy’s Abramov noted.

US oil and gas production has recovered from the pandemic-inflicted slump, but now it has to contend with higher costs and supply chain constraints which could dampen the most optimistic growth estimates.

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ENERGY NEWS SPONSORED BY

Smart Procurement At Craig International, procurement isn’t just about processes, products and numbers. We promote a culture of ownership among our people, who are trusted to get on with the job on your behalf. We’re proud of how we serve clients.

www.craig-international.com

We’re always looking for new ways to add value and routinely introduce new technological solutions to make service delivery even simpler, smoother, faster.

By Tsvetana Paraskova

Investments in technology, an offshore gas discovery, and OPEC’s latest views on the global oil market featured in the oil and gas industry in the Middle East in the past month. The OPEC+ alliance of Middle East-dominated OPEC and non-OPEC producers led by Russia continued to increase their overall production quota, but the group has been significantly under-producing compared to targets, widening the gap between intended and actual oil supply, which tightens the market.

OPEC+ Rubberstamps Another Output Increase At the regular monthly meeting on 2 February, OPEC+ decided to increase monthly production levels by another 400,000 barrels per day (bpd) in March, for a total production quota for the group at 41.294 million bpd.

The two leaders of OPEC+, Saudi Arabia and Russia, will each have 10.331 million bpd production target.

Despite yet another boost in nameplate production quotas, OPEC+ is already lagging behind by an estimated 900,000 bpd from targets and the gap will likely grow in coming months as more members hit their capacity to pump crude oil, analysts say.

www.ogv.energy I March 2022

Middle East

19

The market continues to question the ability of the OPEC+ alliance to ramp up overall production as much as quotas allow. Signs have started to emerge that Russia could be close to capacity and many African OPEC producers are struggling to produce to quotas.

In addition, the higher the production, the less spare capacity the group has, exposing the oil market to heightened volatility in case of sudden supply disruptions. According to many analysts and investment banks, only two Middle Eastern members of OPEC, the organisation’s top producer, Saudi Arabia, and the United Arab Emirates (UAE), have spare capacity to further increase production.

“Chronic Underperformance” from OPEC+ The gap between OPEC+ output and its target levels surged to a massive 900,000 bpd in January 2022, estimates from the International Energy Agency (IEA) showed in its monthly Oil Market Report for February.

“If the persistent gap between OPEC+ output and its target levels continues, supply tensions will rise, increasing the likelihood of more volatility and upward pressure on prices. But these risks, which have broad economic implications, could be reduced if producers in the Middle East with spare capacity were to compensate for those running out,” the IEA said.

“If OPEC+ cuts are fully unwound, world oil output could rise by 6.3 mb/d in 2022. That would erode effective spare capacity, which could fall from 5.1 mb/d to 2.5 mb/d by year-end,” the Parisbased agency noted.

The IEA described the underwhelming supply boost from OPEC+ as “chronic underperformance” and in the middle of February, when oil prices hit $95 per barrel, the IEA’s Executive Director Fatih Birol urged the group to narrow the gap between actual production and target levels and “hopefully provide more volumes to the market.”

OPEC: Near-Term Oil Demand Prospects “Certainly on the Bright Side” OPEC’s Monthly Oil Market Report for February showed that the organisation raised its crude oil production by just 64,000 bpd in January 2022, well below the 254,000-bpd increase in output allowed under the OPEC+ deal.

The report also showed a more optimistic view from OPEC about oil demand in 2022. Although the organisation only slightly raised its oil demand estimate by 10,000 bpd, it expressed confidence that global oil demand will continue to rebound to average 100.8 million bpd this year, which would exceed the pre-COVID level from 2019.

Of note are some of the optimistic forecasts – with the caveat that no harsh mass lockdowns will be imposed this year – in which OPEC said “As most world economies are expected to grow stronger, the near-term prospects for world oil demand are certainly on the bright side.”

“The main challenges for 2022 remain the containment of the COVID-19 pandemic and any resulting restrictive measures, supply chain disruptions, inflation, and labour shortages that could dampen economic growth,” the organisation noted.

“Nevertheless, upside potential to the forecast prevails, based on an ongoing observed strong economic recovery with the GDP already reaching pre-pandemic levels, supported by fiscal stimulus, and global trade levels reaching an all-time high in volume terms.

Moreover, mobility is expected to gain further momentum, particularly with regard to the travel and tourism sector,” OPEC said.

In company news, national oil giants Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) announced several deals and a new offshore discovery off Abu Dhabi.

Saudi Aramco has bought 7.4 percent in industrial software innovation firm Cognite, by buying all of Aker BP’s shares in the company, Cognite said in early February.

Cognite is a digitalisation partner of Aramco in the Middle East, currently aiding in digitalsing and improving the efficiency of Saudi Aramco’s operations through Cognite’s Industrial Data Platform.

“To have the world’s leading energy company invest in Cognite is a strong show of faith in our trajectory, and in the value of contextualised, actionable data as the foundation to shape a more efficient, more sustainable industrial future,” John Markus Lervik, CEO and co-founder of Cognite, said in a statement.

Saudi Aramco also officially launched a US$1-billion venture capital fund, Prosperity7 Ventures, planned to be a global financial venture capital fund, with a long-term view to support the development of next-generation technologies and business models. Investments of the VC fund include early-stage enterprise, blockchain, financial and industrial technologies, healthcare, and education solutions.

In the UAE, Abu Dhabi’s oil firm ADNOC has created a new, wholly-owned subsidiary, ADNOC Murban RSC Ltd, which will become the primary debt capital markets issuing and rated entity for ADNOC Group. ADNOC Murban intends to closely monitor market conditions and explore potential funding opportunities, ADNOC said at the end of January.

In early February, ADNOC announced the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Italy’s Eni, indicate between 1.5 and 2 trillion standard cubic feet (TSCF) of raw gas in place, ADNOC said.

“After completing the well drilling in Q2 2022, the size of the well final findings will be assessed,” said Eni, which holds a 70-percent stake and is the operator of Offshore Block 2.

The block was awarded to Eni in January 2019 as a result of the first-ever competitive bid round for exploration blocks launched by ADNOC. PTT Exploration and Production Public Company Limited (PTTEP) of Thailand holds the remaining 30 percent in the block.

“The discovery of material natural gas resources in Offshore Block 2 underscores how ADNOC’s expanded approach to strategic partnerships is enabling us to accelerate the exploration and development of Abu Dhabi’s untapped hydrocarbon resources and create long-term value for the UAE, in line with the Leadership’s wise directives,” said Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO.

WORLD PROJECTS

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SPONSORED BY

Energy projects and business intelligence in the energy sector

www.eicdatastream.the-eic.com

The EIC delivers high-value market intelligence through its online energy project database, and via a global network of staff to provide qualified regional insight. Along with practical assistance and facilitation services, the EIC’s access to information keeps members one step ahead of the competition in a demanding global marketplace.

The EIC is the leading Trade Association providing dedicated services to help members understand, identify and pursue business opportunities globally.

It is renowned for excellence in the provision of services that unlock opportunities for its members, helping the supply chain to win business across the globe.

The EIC provides one of the most comprehensive sources of energy projects and business intelligence in the energy sector today.

2 1

USA - ExxonMobil Houston Ship Canal CCS Innovation Zone $100 Billion

Shell, Air Liquide, and BASF have expressed an interest in joining the project, which aims to capture up to 50mtpa of CO2 by 2030 and 100mtpa by 2040. Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66, and Valero are among the 14 companies that have publicly expressed their support for the project.

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UAE - Eni Block 2 Concession – Gas Discovery $500 Million

UGANDA - TotalEnergies/CNOOC Lake Albert Developments – (Tilenga, Kingfisher and EACOP) $10 Billion

INDONESIA- Pertamina

Through the drilling of the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession ADNOC has announced the discovery of between 1.5 – 2 trillion standard cubic feet of gas in place.

Petrobras has found traces of natural gas at the 1-BRSA-1382DRJS well at Três Marias.

PT Pertamina is planning to apply CCUS EOR at its Ramba Field.

The discovery was enabled by the utilisation of an ongoing 3D seismic survey.

www.ogv.energy I March 2022

The well was located at a water depth of 2,223 metres. Três Marias is planned to feature a 150,000b/d FPSO linked to eight production wells and eight water-alternatinggas (WAG) injection wells.

Ramba CCUS EOR Project

$50 Million

The feasibility studies for the CO2 and Flooding EOR Project are expected to be completed in 2022, to be followed by a pilot phase in 2022-2026. FEED-FID and construction will be completed in 2026-29 period with production expected Q1 2030.

NAMIBIA - Shell Graff Oil Field $250 Million Shell has made a light oil discovery at its Graff-1 well in Orange Basin offshore Namibia.

Shell is the operator and its partners are QatarEnergy and NAMCOR. The well was spud in December 2021, using the Valaris-owned DS-10 drillship, and was completed in early February 2022.

6 AUSTRALIA - Beach Energy Otway Gas Project $9 billion

Beach Energy has awarded a contract to JDR for the subsea works related to the expansion of the Otway Gas Project. Under the contract, JDR will supply four subsea umbilicals ranging from 400 metres to 4,360 metres in length, and termination hardware, including hydraulic and electrical flying leads.

The umbilicals will form part of a subsea production system used to produce natural gas at Beach's Thylacine and Geographe fields.

WORLD PROJECTS

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USA - Beacon Offshore Energy Shenandoah Oil Field US$2.7 Billion

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Subsea 7 has been awarded the contract for the engineering, procurement, construction, installation, and commissioning (EPIC) of subsea equipment such as structures, umbilicals, and production and gas export flowlines. The scope of Subsea 7 work also includes the wet tow and hook-up of the semi-submersible FPS to the field, as well as the installation of the mooring system.

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INDIA - Cairn Raageshwari Deep Gas Field $6 Billion

BRAZIL - Petrobras Buzios Oil Field (Phase 7 – P-78 FPSO) $4.6 Billion

CANADA - LNG NEWFOUNDLAND AND LABRADOR (LNG NL) Grassy Point FLNG Project $10 Billion

Petrofac has been awarded an EPC contract to support the provision of well hook-up and surface facilities.

TechnipFMC has been awarded

by Petrobras the project's EPCI services for SURF equipment.

Project registration documentation has been field by the developer which mentions that McDermott is the projects EPCM partner.

The work scope includes bringing on stream additional wells, augmentation and modifications to handling and treatment facilities including electrical, instrument control, and safety and protection systems.

The contract's value is calculated to range from US$500m to US$1bn. Flexible pipes, umbilicals, subsea structures and part of the rigid pipes will be manufactured in Brazil.

Pre-FEED studies will start in 2023, with FEED to take place in 2025-26. A final investment decision is expected in 2025, with start-up in 2030.

WORLD PROJECTS SPONSORED BY

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22

INNOVATION

INNOVATION AND TECHNOLOGY IN ENERGY

By Tsvetana Paraskova

Innovation and increased use of technology have become integral parts of the global energy industry in recent years as more and more oil and gas sector companies look to streamline operations and prepare for a low-carbon energy future.

Digital transformation has been a key tool in energy to reduce downtime, cut costs, and perform remote work and inspection in harsh offshore environments. As all oil and gas firms look to remain relevant in the energy transition, they are exploring opportunities in innovation and research and development (R&D) into ways to monitor and reduce emissions from operations, make carbon capture affordable and green hydrogen production cheaper, or produce more sustainable shipping and aviation fuels.

Going forward, technology and innovation will play an increasingly important role in the energy transition and the energy industry’s efforts to offer more low-carbon energy solutions to customers.

Oil & Gas Industry Boosts Technology Investments By the end of this decade alone, oil and gas firms globally are set to spend as much as US$15.6 billion on digital technologies, as they look to overcome commercial, operational, and existential challenges, technology intelligence firm ABI Research said in a report in December 2021.

Technology and digital transformation could help oil and gas companies analyse the condition of their assets, support action plans to expand low-carbon operations and renewable energy production, and prepare for the inevitable volatility of energy commodity prices, ABI Research notes.

Safety of operations and securing assets against cyber threats are key priorities for the energy sector, which is also seeking to proactively prepare for the energy transition.

www.ogv.energy I March 2022

“Safety and Security are top priorities for Oil & Gas operators. Data analytics allied with IoT platforms have become essential to identifying issues ahead of time such as pipeline degradation, wellhead performance, and pollution from gas flares.

Increasingly, however, network security is rapidly becoming a concern for both the C-suite and Governments,” said Michael Larner, Industrial & Manufacturing Principal Analyst at ABI Research.

Spending on security services is expected to rise by a compound annual growth rate (CAGR) of 8.1 percent from 2021 to 2030 and reach an annual spend of US$640 million at the end of the decade, ABI Research’s analysis has found. Expenditure on by oil and gas companies on Internet of Things (IoT) devices and application platforms is forecast to top US$5 billion in 2030 with data analytics spend approaching US$2 billion, the technology intelligence firm reckons.

“The role of technology is evolving from helping Oil and Gas firms monitor their large, complex, and dangerous operations to helping them optimise their facilities to handle the volatility in their operating environments,” ABI Research’s Larner says.

The same technology intelligence firm estimated earlier in 2021 that spending on Big Data and analytics in the oil and gas industry was a total of US$156 million in 2020, up by 36.8 percent compared to 2018. The oil and gas IoT core analytics service revenue is estimated to grow to US$712.7 million over the next half decade, according to ABI Research.

“Instead of developing analytics capabilities in-house, more and more enterprises are turning to supplier

& TECHNOLOGY

23

Energy Sector Embraces Technology and Innovation Oil and gas companies are employing digital technologies in their core businesses, and at the same time, they are working in partnerships on innovations that would make low-carbon energy solutions feasible and scalable.

For example, TotalEnergies deployed at the end of 2020 a surveillance robot at its gas plant in the Shetland for a long-term test in a world first autonomous ground robot for oil and gas operations.

In 2021, TotalEnergies started producing sustainable aviation fuel (SAF) at its La Mède biorefinery in southern France and its Oudalle facility near Le Havre.

The development of SAF is one of the strategic paths TotalEnergies is pursuing to meet the challenge of carbon neutrality, as biojet fuels help reduce CO2 emissions from air transportation, it said.

“As a broad energy company, we support our customers by providing innovative solutions to reduce their emissions. This commitment is fully aligned with Total’s climate ambition to get to net zero emissions by 2050,” said Bernard Pinatel, President of Refining & Chemicals at TotalEnergies.

Shell and bp also pursue SAF development, with bp entering a SAF collaboration deal with British Airways and Shell announcing its ambition to produce around 2 million tonnes of SAF a year by 2025. Shell also aims to have at least 10 percent of its global aviation fuel sales as SAF by 2030.

vendors are continually competing for the top O&G contracts by offering an end-to-end solution and expanding their marketplace portfolios toward the edge,” Dubrova added.

According to ResearchAndMarkets, global IoT revenue in the energy sector will reach US$59 billion by 2025, up from US$34 billion in 2019.

“IoT can be the backbone of digital transformation in the O&G sector,” ResearchAndMarkets said in a report in February 2022.

advanced analytics and Artificial Intelligence (AI) PaaS/SaaS offerings enabled through extensive cross-industry collaborations,” said Kateryna Dubrova, Research Analyst at ABI Research.

“Partnership examples include Total Oil and Google Cloud, BP and Azure, and Seeq and Saudi Aramco. Simultaneously, the leading IoT

“With internet connectivity being available on a larger scale and the hardware costs decreasing, the technology is a more attractive prospect for O&G companies. Ultimately, O&G companies cannot afford to bypass digitalisation, with IoT being a key technology in this process,” says ResearchAndMarkets.

Apart from IoT, AI, and data analytics, the energy sector is increasingly using robotics and automation, augmented reality (AR) and virtual reality (VR), and 3D modelling and visualisation to increase safety, reduce operational costs, and help with geological exploration of oil and gas resources.

Many of the large oil and gas producing companies also take part in carbon capture utilisation and storage (CCUS) technology and projects and hydrogen production initiatives.

Some of the many examples include Aberdeen City Council picking bp to be the Joint Venture partner to deliver the Aberdeen Hydrogen Hub, which will build a solar power facility connected to a green hydrogen production and refuelling facility, or Equinor, Shell, and TotalEnergies investing in the Northern Lights project — Norway’s first licence for CO2 storage on the Norwegian Continental Shelf.

Companies are also expanding the use of drones for surveillance and detection of methane leaks from facilities as many energy firms have already pledged net-zero emissions from operations by 2050 and look to use technology to manage and mitigate emissions.

Innovation and technology will be crucial for oil and gas firms which aim to strengthen their core business and advance low-carbon solutions to thrive in the energy transition.

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INNOVATION & TECHNOLOGY Industrial transformation success requires three key things:

1. Make digital transformation and sustainability core parts of your strategy, owned by the CEO and board.

2. Make data available across the value chain, merging information from OT and IT systems, so you can apply algorithms and AI to optimise operations.

3. Make capturing value at scale a top priority, and ensure that applications are deployed across the enterprise for greater profitability and sustainability.

DATA DRIVES MORE SUSTAINABLE and profitable industrial operations

In our consumer lives, we have access to all the data we need. But in the industrial world, that’s not the case.

The lack of access to data in industry leads to lower profitability, a larger environmental footprint, and greater risk. This is because industrial data is stuck in independent and unconnected silos, and not available for better decision-making.

The

Go beyond proofs of concept Too often, companies approach digitalisation too narrowly to make an impact. They may have a proof of concept to show potential value, but they struggle to scale it. If we want to capture value at scale, a robust data architecture is essential. This makes it possible to contextualise data from all systems, giving it meaning and empowering users with a unified model of industrial reality— one that both humans and algorithms can use to optimise and automate industrial operations.

It’s time to liberate the data and put it to work At Cognite, we help solve industrial data challenges with our Industrial DataOps platform, Cognite Data Fusion. This platform liberates data from different systems and then connects it together. This enables anyone, whether they’re on an oil rig at a factory, to fuse together data and extract meaning from it—converting the raw data into real business value. It’s a giant step toward more profitable and sustainable operations, helping industry move closer to the consumer world in how it uses data to make a difference.

lack of access to data in industry leads to lower profitability, a larger environmental footprint, and greater risk

We need to move asset-heavy industries closer to where consumer applications are today. Think about the navigation systems we use in our everyday lives. These applications combine data from multiple sources, enabling the consumer to easily check store hours, restaurant ratings, and estimated travel time from a single interface. It gives them a unified view of what’s going on.

We need to do the same for industry, so we can access necessary and meaningful data in one place, rather than through multiple systems.

Data opens the door to greener and more profitable operations At a time when the climate emergency tops the global agenda, digital transformation and sustainability must be at the core of any industrial strategy. Industrial players aim to optimise production while minimising their environmental footprint. This requires data from IT systems, maintenance systems, along with information about the operations at any given time. Only once this information is combined can companies begin optimising processes, reducing their carbon footprint, and maximising production.

www.ogv.energy I March 2022

Turn industrial data into business value - Innovate faster, make smarter decisions, and scale successes with Cognite Data Fusion™, the leading Industrial DataOps platform.

For more information visit www.cognite.com

INNOVATION & TECHNOLOGY

25

CLOUD TECHNOLOGY IS BREAKING BARRIERS TO EMERGENCY RESPONSE

The accelerated adoption of digital technology across the energy sector is transforming how teams work together, drive performance and reduce risk.

Nowhere is this innovation more needed than during an emergency.

Restrata has launched a new product to help companies manage any emergency that they are faced with. The new cloudhosted software is focused on the complex challenges of the energy and industrial sectors but applicable anywhere.

Restrata Platform Incident & Crisis Manager creates a unified view of any incident or crisis for the entire organisation to ensure teams understand, collaborate, and respond in real-time. Built as part of the Restrata Platform, the new product connects data onsite and across the organisation, enabling incident and crisis management teams to effectively manage the emergency on a single, connected platform. The cloud-hosted Software as a Solution (SaaS) technology provides the common operating picture needed to make the right decisions quickly.

Botan Osman, Restrata CEO

requires teams to be able to act instantly.

That’s why we’ve created a solution that ensures teams can access all of the data they need from one platform. The Restrata team is in the unique position of having both the technical and operational expertise in house to deliver an innovative product that meets those ever-increasing demands.”

What sets Restrata’s solution apart is that it finally provides clients with a way of connecting all the data they need on one platform, and presents it across intuitive, customisable dashboards.

Botan Osman, Restrata’s CEO, said: “The true transformative power of cloud-based SaaS and IoT, lies not only in how we access data but in changing how teams work together, breaking down barriers to collaboration to ensure that no matter where they are, response teams have the right information and the right time so that the right decisions can be made faster.

The speed and complexity at which an emergency in the energy sector can unfold

• Brief summary: Concise updates provide a summary of how the incident is unfolding, the response priorities throughout, as well as any tasks allocated at each point to the right people at the right time.

• Improved mapping: The mapping feature gives a visual representation of all locations and events connected with the incident and gives information of personnel at each of them.

A Connected Digital Future While many companies have already moved away from the traditional approach of wall charts, pens, paper, and written logs, most current digital solutions are little more than a lift-and-shift approach – moving the same physical data to siloed digital solutions which support the different elements of a response such as logistics, HR, environmental, admin, media response.

• Eliminate duplication: Data is either ingested in real-time or only entered once and is automatically replicated in relevant sections such as events, contacts, and tasks, allowing tasks to be prioritised.

Key benefits of Restrata Platform Incident & Crisis Manager • Streamline workflow: Eliminate friction by bringing all essential data and tools together on one easy-to-use, powerful platform.

Now, the entire team has a real-time view of personnel locations and the unfolding situation.

• Enhance people management: An Associated Locations function enables personnel to be tracked easily if they move onshore or to nearby assets, ensuring personnel are looked after until they are released from the incident.

• Improve communication: Teams have instant access to every briefing log to help them keep up-to-date with an incident as it develops, allowing for more efficient management of live tasks, information escalation to the crisis management team, and access to approved media releases.

Headquartered in London with offices in Aberdeen and Dubai, Restrata’s mission is to digitise people safety and asset security to maximise business resilience. It does this by connecting people, assets, and operations through a single platform hosted in the cloud which transforms workplace safety and security.

Restrata’s dedicated emergency response centre in Aberdeen is the leading outsource emergency response provider to the North Sea market and was the first to roll out Incident & Crisis Manager across its operations which has supported the North Sea and wider energy market for a decade.

The solution will also be rolled out to more than 20 energy and industrial companies and is now commercially available.

As well as extensive experience of working with the energy sector, Restrata also works with clients in a range of industries including oil and gas, energy, engineering, mining, renewables, manufacturing, and large-scale events.

Restrata Platform connects decision makers in global organisations to information on the ground for better safety and security decision making.

For more information visit: www.restrata.com

WATCH OUR INTERVIEW VIDEO AT SUBSEA EXPO 2022

any of

INNOVATION & TECHNOLOGY

27

PREPARE FOR THE UPTURN

by ensuring compliance, says QHSE Aberdeen expert

Energy firms can prepare for improving fortunes across the industry by ensuring they have the right systems in place.

• David Rusling, managing director at QHSE Aberdeen, said that companies can gain a competitive advantage by ensuring that processes are fit-for-purpose. He believes that by taking a strategic approach to integrated management systems now, businesses can reap the rewards of improved performance and profitability.

David, a qualified engineer and lead auditor with 20-plus years’ experience, specialises in building and maintaining customer relationships through the development of value-added QHSE management systems.

He commented: “Our approach is centred around the continuous development of solutions that help organisations achieve significant process improvements and cost-savings.

“Generally, before we start working with a new client, they have a limited amount of documentation without any formal structure in place. For instance, they may have a vendor list but no clear controls in place to identify who is critical to the organisation, and how they are monitored and controlled.

“A management system brings clarity to a company’s operations. By going through the rigours of implementing an integrated management system, organisations can demonstrate to their clients a genuine commitment to doing business in the correct way.”

Firms can utilise several practical measures which will help streamline workflows, increase confidence among staff and supply chains, and provide complete scalability to support business growth.

Businesses should also carry out regular audits of their processes and systems to provide assurance that they are still relevant to the evolving needs of its staff and customers.

Cut-out inefficiencies by implementing an ISO management system

•

Upskill your workforce with internal auditor training

•

Ensure your organisation is compliant with GDPR and health and safety legislation

•

Check your carbon footprint and get verified to PAS 2060

•

Reduce waste and cost, while improving quality and service

QHSE Aberdeen recently supported a client, operating in the oil & gas and renewables sectors, develop an effective set of policies and processes that would ensure compliance.

Working in partnership, David and the team helped create a robust ISO integrated management system, encompassing ISO 9001, ISO 14001 and ISO 45001 for quality, environmental, and health and safety disciplines. Following two stages of UKAS audits, the company was recommended for certification.

David added: “As a relatively young company, having recently moved into its first office, management recognised the need to have ISO

certification to progress successfully through tendering processes.

“The business could foresee the potential workload looming due to the increase in the price of crude oil and committed to being proactive in outsourcing the development and implementation of an integrated management system, utilising the knowledge and expertise of the QHSE Aberdeen team.

“Our client was delighted with the outcome, our service, and the potential for future prospects due to the new certification. It has since been awarded a front-end engineering design (FEED) contract to provide all control and instrument engineering support for a large overseas greenfield project.

“The new system has brought immediate benefits as the company has been able to win work and gain access to additional frameworks and vendor lists, as well as being more streamlined, user-friendly and responsive to the needs of the business as it scales up.”

QHSE Aberdeen specialises in the creation and implementation of robust quality, health and safety, and environmental management systems that not only comply with the latest ISO standards, but help clients document their operations in a logical, no-nonsense way.

Led by directors David Rusling and Angela Scott, QHSE Aberdeen is trusted by clients locally and around the world because of its professional approach; encompassing the expertise of a large organisation with the personal touch of a small company.

“A management system brings clarity to a company’s operations”

Here, David has outlined five key steps that businesses can implement to ensure their operations are “upturn ready”.

The business, located in Westhill, delivers ISO auditor courses and is due to resume classroom-based learning from May. For more information, please visit www.qhseaberdeen.com or contact info@qhseaberdeen.com / 01224 735369

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INNOVATION & TECHNOLOGY

Stena Drilling

Developing ideas through an innovative culture PEOPLE The company’s innovation culture begins with highly skilled teams both on and offshore.

Subject Matter Experts are provided opportunities to develop ‘skills for the future’ through comprehensive training and competency programmes. In turn this knowledge and experience is used to further improve the business, which has a positive impact on the delivery of wells for Clients.

Building an innovative culture in an organisation is key to long-term sustainable success. It provides the organisation the ability to internally generate ideas, and then turn those ideas into solutions that add value. In an offshore drilling environment, an innovative culture benefits the drilling contractor and the operator through improved HS&E and operational performance.

Those involved directly with processes are the ones who have the deepest understanding of the challenges and problems encountered during performance. By allowing employees the space and opportunity to consider these challenges, innovative solutions are developed. Stena Drilling encourages this type of questioning and creativity, and because of this it is clear within the organisation that everyone feels that change is possible. Regular and proactive communication to all employees that innovations Stena Drilling is can come from anywhere and, driven by three more importantly, anyone in the organisation nurtures this core values; Care, innovative culture. The mindset Innovation & within Stena Drilling is ‘if someone comes up with a good Performance idea - why wouldn't it work and how can the barriers be reduced?’

Stena Drilling, an ultra-deepwater offshore drilling contractor with a global footprint, is driven by three core values; Care, Innovation & Performance.

Innovation is in Stena Drilling’s DNA, and the development of an innovative culture means that there is a constant generation of ideas within the organisation, with employees always tasked with considering how processes can be improved. These ideas can be small tweaks to critical path operations offshore driven by front line employees but also large-scale capital investments in new technologies that drive the company forward as a leader in offshore industry.

Stena Drilling understand that innovation stems from People, Process & Technology working together harmoniously, and over the course of a number of years has developed a process of Ideate, Implement, Test, Deploy and Repeat to nurture innovation.

PROCESS With a proactive innovative culture developed, another natural barrier to innovation is ineffective process. Recognising this, Stena Drilling have developed an innovation process designed to leverage the unique core competencies of our onshore and offshore teams. Emphasis is placed on innovations being a cross departmental activity, to minimise silos across the organisation and encourage diversity of skills and thought. This allows for clear and rapid communication of innovative thinking within the organisation. When

a promising idea is developed the use of an agile methodology enables Stena Drilling to rapidly spin up teams to work directly on the project to take the ideas from concept to reality in a short timeframe.

The innovation process also caters to understanding long term strategic trends and market forces to help the organisation better understand what the guiding stars for Innovation should be. As an example, Stena Drilling recently embarked on a companywide process of envisioning the offshore drilling market in 2030. The project explored future trends in the energy sector, looking at how Stena Drilling’s current core competencies could be leveraged and pivoted to add value in a time of change and challenge. This framework for developing long term innovative thinking has helped to define the future strategic priorities of the organisation and understand how the company’s current internal innovation process can be geared towards this.

A key element in the success of this project came from the involvement and engagement of a wide range of our employees. This allowed for greater diversity of thought, whilst ensuring greater ownership and empowerment to our employees for all future innovations.

TECHNOLOGY With mindset and process addressed, one of the final challenges for generation of innovative ideas is having a suitable platform for submission of ideas. At the heart of Stena Drilling’s innovation process is the innovation platform, which is open to all employees. Using a bespoke digital technology, individuals can share innovative ideas with a clear explanation as to what benefit this can provide to the company and end-client.

The software platform ‘Nexus’ encapsulates the principles of innovation at Stena Drilling; allowing innovations to be input that can add value from anywhere and anyone in the organisation. The software, which is now available for purchase for external organisations due to its success internally, provides an easy platform for the submission of ideas from both onshore and offshore.

When determining the value of innovation to the business, Stena Drilling look to three key drivers of success: improving safety, enhancing performance, and improving the service offering to clients. There are numerous innovations that have been successfully ideated, implemented, tested, and deployed that have delivered significant lasting value to the business.

As would be expected, these innovations come in many shapes and sizes. Some are minor modifications, such as the modification of processes and equipment to remove personnel from dangerous (red zone) areas offshore, while others are more significant leading to significant capital investment and a change to Stena Drilling’s value offering to clients. Recent examples of these ‘company shifting’ ideas include increased investment in automated drilling technologies, the decision to become the leading deepwater Managed Pressure Drilling contractor and investment in digital twin technologies to further improve already impressive operational uptime performance.

Ultimately however, each successful innovation cumulatively drives Stena Drilling to the forefront of technology in the Energy sector.

www.ogv.energy I March 2022

Innovation and technology are critical to future-proofing our assets. Stena Drilling continues to invest in R&D to improve services offered to our clients. In collaboration with governmental agencies and trusted partners inside and beyond the energy industry, we seek to better understand and develop distinct technologies.

For more information visit www.stena-drilling.com

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INNOVATION AND TECHNOLOGY Closing in on Net Zero Anticipating the future has never been more important than today. This is true at all levels, planetary, country, organisational and even individual.

The technology landscape is evolving, and exciting trends are on the horizon to enable the transition to net zero. Businesses need to develop the ability to understand them and translate them into business strategies.

The building blocks are in place, but we need rapid change to spur an upheaval of our energy system in line with the 1.5°C target. We need investment in innovation and technologies across the energy sector, from optimised manning and offshore wind to data and artificial intelligence, creating opportunities for many businesses. Bill Gates expects the emergence of climate technology to generate "eight to ten Teslas, a Google, an Amazon and a Microsoft".

In the oil and gas industry, optimised manning and the transition of personnel from hazardous offshore working environments to a more remotely operated onshore model plays a key role in decarbonising the UKCS basin and helping the industry achieve its Vision 2035 net zero objectives. As part of the Net Zero Technology Transition Programme, the Net Zero Technology Centre's Offshore Manning Optimisation (OMO) project will serve as a "lighthouse project" that will both inspire and equip the broader industry with the tools, technology, techniques, and approaches required to successfully employ remote operations technology and optimised manning practices in brownfield operations in the UKCS. The project will cover multiple deliverables from workforce modelling, change management

their use of artificial intelligence, and commercial models to machine learning and robotics. testing technologies such For example, the recent RangL as digital twins, robotics, and 'The Optimal Pathway to Net Zero automated systems. Widespread Luca Corradi by 2050' AI challenge, run by the remote operation of UKCS assets Alan Turing Institute, used classical would result in reduced operational and machine learning techniques and expert cost, extended asset life, improved production knowledge to find optimal deployments for efficiency and reduced CO2 emissions. technologies, such as offshore wind, blue and green hydrogen, and carbon capture and However, 70% of offshore oil and gas CO2 storage (CCS). These technologies will be emissions in the UKCS comes from on-site instrumental in reaching the UK's target of net power generation. To mitigate this, offshore zero by 2050. wind and energy storage technologies for deep water are rapidly developing. The Crown Estate Investment and innovation in hydrogen and Scotland (CES), Innovation and Targeted Oil CCS technologies will be vital to decarbonise and Gas (INTOG) leasing round will enable the manufacturing sector. The UK's Hydrogen offshore wind development specifically to Strategy identified hydrogen as a key solution provide low carbon electricity to power oil in decarbonising hard-to-abate industries, and gas installations by the mid-2020s. This including chemicals, cement, steel and iron. leasing round offers a collaborative opportunity in Scottish waters to decarbonise oil and gas Decarbonising these sectors is a monumental operations. The projects will enable project undertaking essential to meeting net zero developers and the supply chain to advance targets. To help realise the ambition, Scotland's technology development and gain experience Net Zero Roadmap (SNZR) project, part of a in advance of ScotWind, which pledged a multigovernment funded challenge, aims to develop billion-pound supply chain investment in 17 a roadmap setting out how Scotland's industrial Scottish offshore wind projects. These projects clusters can move towards net zero by 2040. will also support the delivery of decarbonisation The project explores a set of decarbonisation targets within the North Sea Transition Deal scenarios, including hydrogen generation, (NSTD) and Offshore Wind Sector Deal and be CCUS, fuel switching, and electrification, to a key enabler of Scotland's energy transition ensure the most appropriate technologies are ambition. They will unlock investment, create selected and implemented at the right time. export opportunities, and kickstart innovation.

The project focuses on a cluster of industrial activity on the East Coast of Scotland, including Data will be a key enabler to achieve net zero. many of the largest industrial sites, equating to The development of digitally enabled smart 80% of Scotland's industrial CO2 emissions. cities around the world has demonstrated the value of integrating, visualising, and analysing All of these technologies are evolving, but the data from multi-sectoral monitoring devices pace is too slow. The International Energy Agency to optimise the efficiency of city operations (IEA) states that the development of most clean and services, minimise environmental impact, energy technologies is lagging behind. and connect to citizens. Also, part of the Net Zero Technology Transition Programme, the As government and policymakers spark the Data for Net Zero (D4NZ) project, is a first requirement for innovation, organisations for the offshore energy sector, delivering the must be agile enough to adjust and transform, world's first Smart Energy Basin. Utilising an embrace technology, and make decisions integrated suite of data science, visualisation based on trusted data and analysis. and modelling tools, the Smart Energy Basin Companies that can embrace change, and will be a digital copy of the entire energy basin. adjust accordingly, will thrive. The Net Zero It will be utilised to accelerate a range of Technology Centre helps companies navigate cross-sectoral decision-making approaches for trends and developments to help create their energy integration. roadmap to net zero.

While digital technology has come a long way, During these times of change, risk and the best is yet to come. Many companies are opportunity, agile must become a mindset. investing in digital technologies, increasing

30

INNOVATION & TECHNOLOGY SPONSORED BY

The UK’s largest innovation funding consultancy Our expert teams work in close partnership with thousands of businesses each year to maximise the financial benefit they receive from R&D Tax Credits, Grants, and other innovation funding schemes.

www.leyton.com

In the past year alone, we have helped our clients successfully claim more than £200m in tax relief to support their future growth.

TARGETED DOWNHOLE HEATING SPECIALIST

Cavitas Energy Formed in 2016, Cavitas Energy is a leading expert in downhole thermal applications. A UK based ISO 9001 registered engineering company, focused on providing innovative services and value adding solutions to the energy industries.

The company’s technical team consists of experienced engineers and geoscientists who together provide innovative and tailored solutions to their expanding global client base.

Cavitas are best known for developing the world’s highest energy density downhole heater called THOR, with applications in viscous oils, flow assurance, natural gas, and low enthalpy geothermal. THOR provides reliable and controlled heat downhole, making viscous and waxy crudes act like easier to produce light oil, revolutionising development plans, lowering the carbon footprint and requiring less CAPEX for wells and facilities, all while increasing production.

Company Details Website: www.cavitas.co.uk Email: info@cavitas.co.uk Tel: +44 (0)1224 032585 Address: Unit 21, Denmore Road Aberdeen, AB23 8JW

Technology Development stage: Live Launch date: 2016

INNOVATION &

TECHNOLOGY

IN ENERGY ANNUAL

202 2 www.ogv.energy I March 2022

C

avitas’ innovative downhole heater, named THOR, is revolutionising thermal applications whilst reducing the carbon emissions compared to traditional methods. THOR provides: • In-situ near wellbore heating • Up to 500% production increase in heavy oil • Flow assurance in wax and asphaltene • Increase pump efficiency and run life over 50% • Restoring production in liquid loaded gas wells • Unblocking pipelines and risers Cavitas’ heater emits only 1.51 gC02/MJ during operation, which is around 20 times less than traditional thermal operations such as steam floods in Kern, California at 29.33 g/MJ. THOR’s high (90%) efficiency and targeted heat downhole also keep fuel costs low.

Over 40% of the global remaining oil is heavy, which is most effectively developed by thermal operations. THORs low carbon barrels could have a vast impact on the global goal of keeping Climate Change below 2°C.

Reliable Mechanical Downhole Heating THOR’s mechanical design offers the highest downhole heat energy density on the market, up to 55 kW/m, which is 50-100x greater than typical electrical cable heaters. The tool itself is significantly shorter and lighter than alternatives, which is easier to deploy and retrieve.

THOR’s ingenious mechanical design avoids the reliability issues that plague ‘Electric Cable Heaters’, e.g. hot spots at splices.

THOR’s fully sealed design avoids free gas and solids shock loading, a key failure mechanism of pumps.

The downhole tooling requires no maintenance on its 3-5 year run life and can be monitored remotely, where traditional methods will require Maintenance Technicians on site 24/7.

The small topside footprint of a VSD, Transformer and Junction Box make it ideal for offshore or remote wells.

The flexible rental model can allow Operators to receive a return on investment in 50 days or less.

Cavitas’ active design team and innovative spirit means THOR can be fully customised to suit all requirements that the operator has.

Fully unlocking the potential of their wells in an environmentally friendly way.

INNOVATION & TECHNOLOGY

Aize Aize was founded in 2020 with a vision to fundamentally change how capitalintensive projects and operations are performed. Developed by and for domain experts, the Aize workspace allows users to see, navigate, collaborate and work on assets digitally. The company is building on 30 years of software experience and 180 years of industrial heritage as part of the Norwegian Aker group. Aize is based in Norway and the UK.

INDUSTRY SOFTWARE That Solves The Worker’s Problems

W

e founded Aize in 2020, and already benefit from solid industry collaborations. We root our mission to transform the industry in five decades of world-leading offshore industrial expertise.

With Aize, we are now creating one core product with modules and functionality that will serve heavy-asset industries throughout their life cycle.

For us, the worker is in focus The Aize workspace lets your data collaborate so that your people can collaborate in real-time, eliminating unnecessary paperwork and physical meetings freeing up time for every industry worker to do their actual job.

Our goal: To create industrial software enabling one single source of truth for companies and experts building, operating and collaborating on heavy assets, enabling them to utilise the digital twin in the best way possible.

For workers in EPC Aize lets you coordinate capital-intensive projects together in real-time. Streamline all communication and relevant data involved in designing, constructing, and commissioning heavy assets into a single source of truth.

Aize empowers contractors, vendors and partners to make unified decisions based on the same information. A combination of 3D visualisation, advanced information modelling and Google-like search experience will help you understand data in actual context, driving efficiency and profitability of greenfield developments as a result.

For workers in operations Aize is a collaborative, shared workspace bringing entire heavy assets to its operator’s fingertips. Running an operating facility can be capital-intensive and requires solid control over maintenance and safety. That’s why Aize provides a single access point to all engineering data by integrating internal and 3rd party apps. As a result, operators are always a few clicks away from determining the overall asset performance, enabling them to act quickly and confidently.

3 things you should know about Aize

Company Details Website: www.aize.io Email: info@aize.io Tel: +44 (0) 7522 729412 Address: Building 2, Aberdeen International Business Park, Dyce Drive, Aberdeen, AB21 0BR, United Kingdom

1. Our job is to keep every industry worker involved in heavy-asset projects or operations in the know and help them excel at their job.

2. Digitalisation is not the goal in itself.

We work to create a simpler, more creative and more productive every-day for industry workers, empowering them to spend less time looking for information and more time on critical tasks. Aize helps build more sustainable and competitive companies, both large and small.

3. We focus on our domain because we genuinely believe the change in the oil and gas industry is essential to changing everything.

Building a more sustainable future will take time. We are doing our part in speeding up the process by starting in the industry we believe is most influential at the moment.

Find out more about Aize at www.aize.io

Technology Development stage: Commercial Launch date: 2020

INNOVATION &

TECHNOLOGY

IN ENERGY ANNUAL

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www.sword-group.com

Who is Sword?

Greg Anderson, Sword CTO has worked in the technology industry for over 15 years. He is responsible for Sword’s technical strategy and assuring data and digital solution design across all their industry verticals.

As the North Sea’s largest provider of digital services, Sword focuses on building solutions to the industry’s most critical business technology challenges by enabling our clients to capture, manage, and utilise data to make informed decisions. This is supported by technology adoption and people engagement, together with modern ways of working to give confidence that the right decision is made every time.

We know that digital in all its guises is a key enabler, not only for business growth but for ensuring sustainability. Over the past five years, we have listened intently and refined our services in response to emerging technology and lessons learned from our project and service delivery teams.

AN INTERVIEW WITH A DATA-DRIVEN CTO Tell us about your current role and how you have seen the adoption of digital over recent years.

I have always been passionate about how technology can improve business outcomes and am fortunate to apply this in my role as Chief Technology Officer for Sword Group UK. I have the opportunity to work with some exceptionally talented colleagues, delivering innovative and forwardthinking solutions across multiple industry verticals such as energy, public sector, retail, and financial services.

We have seen a significant acceleration in our energy customers embracing digital and data-driven solutions over the last 18 months. By sharing the knowledge and expertise we have gained from other sectors that are further along in their digital adoption journey and benefitting from our collective lessons learned, I’m excited to see how the energy sector evolves throughout 2022.

How do digital and data challenges in other industries differ from those of the energy industry?

Greg Anderson, Sword CTO

As a result, our strategic direction is focused on how we support our customers by starting at the foundations, and our significant investment in skills and experience across our Sword practices enable us to support our energy customers on every step of their data-driven journey.

How does Sword stay on top of horizon scanning with the pace at which technology moves?

We understand the importance of staying up to date with emerging technology and approaches, as many of our customers look to us to help bridge that gap in their knowledge. It can be a full-time job to keep up with changes in platforms such as Microsoft’s cloud-based PowerPlatform or Azure Synapse Analytics, so it comes down to focusing on what is fit for purpose for our customers.

“We know that digital in all its guises is a key enabler, not only for business growth but for ensuring sustainability.”

Other sectors have similar challenges to energy when it comes to digital adoption and becoming data-driven.

However, in energy, we typically encounter much more diverse data sources, higher data velocity, and greater data veracity than we do in other sectors. We have seen other sectors embrace cloud computing, from a platform and infrastructure perspective, quicker than energy. Typically, this has led to faster innovation than on-premises-centric environments as cloud platforms can enable more rapid delivery of data-driven solutions.

Levelling up the industry in this space is less daunting now due to the advancement of Modern Data Platforms and Azure Synapse analytics which we deploy using our data-centric “Tillit” framework. This focuses on establishing confidence, faith, and trust in data, enabling the business to make trusted data-driven decisions.

As one of a select group of fully managed Microsoft partners in the UK, we invest heavily in maintaining close alignment with our Microsoft counterparts responsible for technology platforms. We regularly hold knowledge sharing sessions both internally and externally to ensure our solution practices remain ahead of our industry’s needs.

This investment allows us to maintain relevancy and enables us to help our customers compare and contrast the benefits that digital solutions will bring, whilst also understanding any gaps in supporting technology.

What is Sword’s focus in 2022?

Today’s technology landscape is complex and diverse. Sword recognises the importance of having the right skillsets across data, platforms, security, development, and change to deliver the types of solutions our customers need.

2022 is going to be all about building on strong data foundations and truly embedding digital into the business.

Organisations are starting to understand what digital transformation specifically means to them. It’s going to be fascinating to see how they choose to mature their data-driven roadmaps and build on the digital solutions momentum driven by the COVID-19 pandemic.

Can you tell us about Sword’s strategic direction, how you help position this for your customers, and its impact on the industry?

We are focused on doing the right thing for our customers, ensuring we deliver the services and support we have become known for in the energy sector over the last 20 years.

Throughout our organisation, from IT services and information management to digital solutions, we are ultimately focused on placing the right data in the right hands at the right time.

www.ogv.energy I March 2022

For more information, visit www.sword-group.com

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BUILDING THE HYDROGEN FUTURE OF WALES AND BEYOND

RenewableUK – the UK’s largest renewable energy trade association – speaks to Guto Owen about the current and future development of hydrogen in Wales and how skills can be transferred from traditional energy industries to support growth.

makes it an attractive area for government investment. In Wales, the situation appears ripe for the picking, as Guto Owen, co-ordinator of HyCymru, the Wales Hydrogen Trade Association, and Director of Ynni Glân, a fuel cells and hydrogen consultancy – comments:

What’s the project?

“Wales is essentially a microcosm for the global hydrogen industry. We have domestic energy sources, especially large-scale offshore wind from our shared resource with Ireland, and markets for everything from industry to transport to heating and power, with associated infrastructure to connect it all. As such, it is possible to deploy and develop technologies and strategies in Wales that can be scaled up for other countries and markets. We’ve made progress and there is much to learn from and co-operate with other countries to design our approach in the future. We can also connect to the worldwide hydrogen economy through Milford Haven, the UK’s largest energy port.”

Green hydrogen produced from renewables is often heralded as the renewable fuel of the future. Why? Because it is the ultimate solution to green energy in its production and application across multiple sectors, and can help solve the integration challenge of renewables into the energy mix.

Current plans have established a target of 5GW of low carbon hydrogen capacity by 2030, which is the equivalent to replacing the gas consumed by 3 million households in the UK each year, and will be used to support sectors ranging from heavy transport to industry, in addition to supporting transport and heavy industry. As is true throughout the renewable energy sector, the potential for thousands of new jobs and various export opportunities in green hydrogen production

www.ogv.energy I March 2022

Milford Haven: Energy Kingdom (MH:EK) is an innovative project designed to explore the realistic possibilities for a decarbonised, smart local energy system. With collaboration between electrolyser, solar, onshore wind,

offshore wind and biomass energy solutions, it is looking to develop efficiencies with local community and industry. A global trailblaser, the project incorporates hydrogen-ready technologies in housing and commercial buildings, alongside intelligent hybrid heating systems, fuel cell cars and a flexible trading platform that lowers costs.

Most recently, RWE announced a project to build further on the potential for hydrogen linking to the floating offshore wind sites in the Celtic Sea. The organisation has been investigating opportunities for the production and supply of green hydrogen at the Pembroke Power Station with the installation of a 100MW electrolyser. This would push boundaries within the sector on several fronts, given the size of the technology and the potential to supercharge green hydrogen production for a local network. As the survey is forecast to run until March 2022, the soon expected results could be the start of some interesting conversations in the area.

Also, in progress elsewhere in Wales is a feasibility study for a hydrogen hub at Holyhead, including a hydrogen production plant and fuelling/distribution centre led by community enterprise Menter Môn. Findings so far suggest potential to cater for local heavy transport businesses at a supply rate of over 400kg/day by 2022/23, with the opportunity to expand over time. A 1-2MW pilot project has been designed at Parc Cybi to test the realities of a hydrogen hub, which will explore scale-up opportunities and connection with other emerging projects in Wales, Ireland and the rest of the UK.

Guto Owen

RENEWABLES Though Wales is clearly well-positioned for growth in hydrogen production and processing, there are still challenges that need to be overcome and which can support Welsh Government objectives, as Guto goes on to explore:

“Finally, a supportive regulatory framework would be very beneficial to Wales. This would get us ahead of the game by nurturing and attracting business and investment which can support the Welsh Government’s decarbonisation ambitions but also as a platform for export growth.”

“When it comes to building a workforce for the future of The hydrogen market remains promising given its potential hydrogen, we have to consider whether there are enough to rapidly decarbonise many sectors across the global people with the right skills to fulfil the necessary roles. Where economy and to improve the economics and security specific knowledge or capabilities are lacking, we of supply of a renewables dominated energy need to ensure that provision of training or system. Guto considers the benefits that the retraining is ready to prevent a skills gap from industry could bring to Wales in the near and hindering rapid market growth. This will long-term future: require collaboration between colleges and The hydrogen education providers, in partnership with market remains “It’s now recognised that you cannot governments and companies directly. decarbonise national economies without We ned a clear strategy and structured promising given its hydrogen. Green hydrogen is particularly pathways for personal development so potential to rapidly attractive as it provides an option of that individuals can build a successful, purely renewable energy production. In well-paid career while supporting the decarbonise many Wales, we can produce a lot of green future of the industry and strengthening sectors across the hydrogen for our internal markets. But the global economy. What’s more, all global economy there is also potential to share exports, this needs to be done quickly – we don’t especially in partnership with Ireland, with want students graduating with skills for the rest of the UK and European markets too, industries that are dying out. Instead, we opening up new opportunities for income and need to be ahead of the curve and educating a trade for many years to come.” workforce for the needs of businesses and sectors are emerging.

There are many industries that could benefit from green “The second major challenge we need to consider is the hydrogen, though it is difficult as of yet to predict which off-taking situation. Markets must be established for the will scale-up first. Heavy transport is likely to be among the hydrogen produced and we need to ensure that the sector is first to transition, with others such as industry, power and as competitive as possible. Costs are becoming favourable, heating looking to make the change in the coming years especially given the recent price rises in traditional fuel too. The speed of the transition will depend on government sources like oil and gas, but there is still scope to scale up and decisions around subsidy support and wider policy needed reduce costs further. This applies in Wales and the rest of the to accelerate the deployment of green hydrogen project and UK, as well as around the globe. drive down costs.

RENEWABLES

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Infinity Partnership: Your Partner in Business Infinity Partnership is an award-winning, multi-disciplinary accountancy and business advisory practice, with a proactive approach to customer service.

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ASCO look towards a promising year ahead with major contract awards worth £200m

Infinity has been a five-time winner at the British Accountancy Awards and has been a three-time finalist at the Scottish Accountancy Awards in recent times.

UK Head of Commercial and Business Management, Jamie Marr, commented: “2021 presented many challenges for the business community, but we signed the year off in a solid position, consolidating our place as the leading integrated logistics and materials management provider. The recent securing of contracts is testament to our experienced team and strong performance record at ASCO. “We are capable of providing an integrated endto-end solution and we continue to be aligned in our aim to build an exceptional reputation within the global energy market. Our customercentric approach plays a pivotal part in the increase of work and our expansion into new markets and locations.

Global integrated logistics and materials management company, ASCO, has announced multiple significant contract wins with major North Sea operators for various scopes of work including the provision of quayside logistics, materials management, ship agency, receipt and dispatch services, supply and management of marine gas oil, marine, environmental and aviation services. Several of the contracts were secured in the last four months and have a combined value of approx. £200m over the next three years, marking a successful Q4 for 2021 and an excellent start to 2022.

We aim to lead the way as the industry moves towards a net zero future, and the plans that we have in place will remain supportive of our objectives of operating more efficiently and sustainably, offering low carbon services and solutions to our clients.”

Despite challenging market conditions, ASCO has shown great resilience, bringing changes to its operations, launching an Operations Control Centre (OCC) to improve service delivery and drive efficiencies whilst firmly executing its sustainability roadmap to achieve a 30% CO2 reduction target by 2024.

Havfram awarded new contract in Egypt the provision of a high specification LCV with associated construction crew, WROVs, underdeck carousel and VLS services, as well as support to the load out operation in Norway and various engineering tasks in support of the project.

Havfram announced today that it has been awarded a contract for SURF support work in Egypt for Saipem. The contract will see Havfram deploy a Laying and Construction Vessel (LCV) offshore Egypt to the Zohr field in 2022.

Havfram will support Saipem with their installation of 160km of umbilical product in over 1,400m water depth on the Zohr North development. The scope of work includes

www.ogv.energy I March 2022

Havfram will make use of the Viking Neptun, which is well suited to deepwater umbilical installation and construction support operations.

The vessel is chartered to Havfram in 2022 to support several projects in various regions.

“We are pleased that Saipem selected Havfram to assist on their activities on the Zohr project for Petrobel and we look forward to executing the project in a safe and efficient manner,” says Odd Stromsnes, CEO of Havfram. “2022 will see Havfram execute a number of projects in Africa and the Mediterranean, a long standing key region for the company.”

Aker Solutions seals contract extension with Equinor Norwegian energy services company Aker Solutions has signed a three-year contract extension to an existing maintenance and modifications frame agreement with Equinor. The deal for work on oil and gas installations offshore Norway is worth between NOK2bn ($227m) and NOK3bn ($341m).

Aker Solutions has delivered maintenance and modifications work for Equinor on this frame agreement since the first quarter of 2016. Work under the extension option will start after the completion of the existing period during the first quarter of 2023.

The contract provides work for Aker Solutions’ operations in Trondheim, Bergen and Stavanger in particular, and will be managed from the company’s offices in Trondheim. It will be booked as order intake in the first quarter of 2022 in the electrification, maintenance and modifications segment.

“We will keep our strong focus on safety, low-carbon solutions, as well as continuous improvements and increased productivity in the work we deliver. This contract award is a great testament to the quality of service our teams have provided over many years,” said Linda L. Aase, executive vice president and head of Aker Solutions’ electrification, maintenance and modifications business.

Prosafe awarded BP contract in Trinidad and Tobago Offshore accommodation vessel specialist Prosafe has secured a contract with BP for floatel Safe Concordia in Trinidad and Tobago.

The 2005-built semisub will provide gangwayconnected operations at Cassia C platform offshore Trinidad.

The firm contract will be approximately 160 days in direct continuation of the floatel’s current contract at Cassia C, estimated March 24, 2022, through to and including August 31, 2022.

The value of the contract firm duration is $19.4m and BP has an option to extend the charter for up to four weeks.

CONTRACT AWARDS

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Archer awarded contract extension for platform drilling services with Equinor

ConocoPhillips books jack-up rig for Sarawak operations Malaysian offshore services provider Icon Offshore has secured a drilling contract with oil major ConocoPhillips for operations offshore Sarawak, Malaysia.

Icon Offshore informed that its subsidiary company, Oilfield Services Sdn Bhd (IOSSB) formerly known as Perisai Offshore, had received a letter of award from ConocoPhillips for the provision of a jack-up rig for ConocoPhillips Sarawak’s 2022 drilling campaign.

ConocoPhillips issued the letter of award on 23 December 2021 to IOSSB for the provision of the Icon Caren rig to drill three wells plus one well.

The contract is expected to start in the second quarter of 2022 and it has an estimated value of $9.6 million.

The Icon Caren rig was previously known as Perisai Pacific 101 before it was purchased by Icon Offshore from Perisai Petroleum in a deal announced in 2020 for a reported price tag of about $40 million.

In early 2021, the rig won a contract from Petrofac for a primary period of 180 days with firm eight wells, and with an optional three wells extension. Come September 2021 and the rig secured more work off Malaysia, which was scheduled to start in October 2021 for a period of 120 days for four wells.

The Icon Caren is a high specification jack-up rig capable of operating in a water depth of 400 feet, with a drilling depth capability of 30,000 feet. It was built by Sembcorp Marine’s PPL Shipyard in Singapore and delivered in July 2014.

Archer has been awarded a two-year contract extension for platform drilling services as Equinor exercises the first of three two-year extension options following the original fouryear contract.

The extension will commence on 1 October 2022 in direct continuation of the current contract.

The extension covers all the rigs which Archer is currently the incumbent contractor for, which include Statfjord A, B and C, Gullfaks A, B and C, Grane, Njord, Sleipner A, Snorre A and B, and Visund.

Dag Skindlo, CEO of Archer, commented: "We are delighted to continue our operations for Equinor in the North Sea for an additional 2 years. We have over time shown safe and strong operational performance. Archer is dedicated to further develop our OneArcher operating model to provide Equinor with safe, efficient and costeffective solutions while contributing to both Archer's and Equinor’s ESG roadmap.”

Neptune Energy awards £3M contracts to support gas production at Cygnus Neptune Energy announced a series of contract awards totalling almost £3 million to support ongoing operations at its operated Cygnus Alpha and Bravo platforms in the UK Southern North Sea. The awarded workscopes cover diving support vessel services, helicopter services and general inspection activities.

The work will support maintaining high levels of gas production from the facility, which is capable of producing 6% of UK domestic gas demand.

Neptune Energy’s Director of Operations for the UK, John Moffat, said: “We are continuing to work with our partners across the supply chain to ensure continued safe and efficient operations at Cygnus, which is strategically important for domestic gas supply to the UK.” The latest awards follow the announcement of two contract extensions to Petrofac for operations & maintenance and engineering at Cygnus which came into effect at the beginning of 2022.

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ON THE MOVE Norman Broadbent

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Jochen Eickholt

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Siemens Gamsea Renewable Energy announces appointment of Jochen Eickholt as CEO and member of the executive board

Mr Eickholt joined the Siemens Energy executive board in January 2020 where he is responsible for the Power Generation and Industrial Applications businesses as well Asia-Pacific and China. During a career with Siemens spanning more than 20 years, Mr Eickholt has held several senior management positions including Chief Executive Officer of Siemens Mobility, and Chairman and Managing Partner of the Siemens Portfolio Companies.

Matt Street

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Chris O’Shea, Chief Executive of Centrica has been announced as the new Chairman of the Board of Spirit Energy.

Chris is an experienced company executive with extensive experience of complex, multinational organisations inside and out of the energy sector.

McDermott International Ltd announce the appointment of Michael McKelvy as President and CEO

McDermott International Ltd have announced that Michael McKelvy has been appointed President and CEO, effective January 2022. Mr McKelvy has more than 30 years’ experience working in the engineering and construction industry in the US and international markets including the Middle East and Europe. He was previous President and CEO at Gilbane Building Company since 2014.

Matthias Bausenwein

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AFBE-UK announces tenth member of advisory board

Craig Shanaghey, President of Operations Services for Europe, Middle East & Africa (EMEA) at global consulting and engineering firm Wood, becomes the tenth member of the AFBE-UK advisory board. Craig is also chair of OGUK’s Diversity and Inclusion Task Group, and is a member of the Energy Leaders’ Coalition, a group of executive leaders in the UK committed to driving diversity in their organisations and their sectors more broadly.

McDermott International Ltd announce the appointment of Michael McKelvy as President and CEO

BP has hired an executive from Danish wind power firm Orsted (ORSTED.CO) to head a new offshore wind division as the British energy company restructures its renewable businesses to help drive its transition away from fossil fuels. Matthias Bausenwein, who stepped down on Jan. 20 as president for Asia Pacific for Orsted, the world's largest offshore wind farm developer, will join BP in the second half of 2022, the British company said in a statement to Reuters.

Chris Shanaghey

Chris O'Shea

Chief Executive of Centrica announced as the new Chairman of the Board of Spirit Energy

www.ogv.energy I March 2022

Michael McKelvy

Alex Aclimandos

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Gulf Marine Services (GMS) appoints Alex Aclimandos as Chief Financial Officer

Gulf Marine Services (GMS), has announced the appointment of Alex Aclimandos as its Chief Financial Officer. GMS is a company providing jack-up service vessels for the offshore oil, gas, and renewables industries Mr Aclimandos has a wealth of progressive international financial management experience gained in over 27 years with first‐tier companies viz. Procter & Gamble, ABB, and Alvarez, and Marsal.

ON THE MOVE

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John Pearson

John Pearson, Chief Operating Officer of Petrofac’s New Energy Services business joins OGUK’s board

John Pearson, Chief Operating Officer of Petrofac’s New Energy Services business joins OGUK’s board as it focuses on accelerating oil and gas industry efforts to deliver low carbon energy to the UK. Mr Pearson has overall accountability for growing Petrofac’s global portfolio in low carbon projects including wind, hydrogen, Carbon Capture Usage and Storage (CCUS), plus initiatives that convert waste to energy. Previously, John lead Petrofac’s global operations and brownfield projects business and was the Company’s Chief Corporate Development Officer, responsible for driving transformation of activities including technology, engineering and the energy transition. Prior to this, he spent 28 years in senior management roles at Amec Foster Wheeler and five years at Chevron.

Phil Kirk

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Europe Chief Executive of Harbour Energy steps down

Europe chief executive of Harbour Energy (LON:HBR) has announced that he will be stepping down with effect from 27th February. Mr Kirk founded Chrysaor in 2007, which with the backing of private equity firm EIG Global Energy Partners acquired large North Seafocused oil and gas portfolios from Shell (SHEL.L) in 2017 and ConocoPhillips (COP.N) in 2019 for a total of nearly $6 billion.

In 2021, Chrysaor acquired Premier Oil in a reverse takeover which allowed it to list on the London Stock Exchange under the name Harbour Energy, in which Kirk became head of the European operations. Harbour is today the largest North Sea producer with around 200,000 barrels of oil equivalent produced daily. The Premier Oil acquisition gave Harbour assets in other regions including Southeast Asia and Mexico.

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WOODSIDE ENERGY Meg O’Neill, CEO of Woodside Energy has announced the executive team that will lead the company following the proposed merger with BHP’s petroleum business, targeted for the second quarter of 2022.

Fiona Hick has been nominated to lead Australian Operations, based in Perth. Ms Hick joined Woodside in 2001 and has been EVP of Operations since 2019, prior to 2019 she held positions including VP Health, Safety, Environment and Quality and SVP Strategy, Planning and Analysis. Ms Hicks is also the President of the Chamber of Minerals and Energy of Western Australia.

Shiva McMahon has been nominated to lead International Operations, based in Huston. Current General Manager of Australia Production Unit at MHP Petroleum, Ms McMahon has previously held the role of BHP Petroleum’s VP Finance. With a career of over 25-years within the industry, before joining BHP she held roles at BP including CFO for Castrol and Head of the Upstream Executive Office.

Julie Fallon has been nominated to lead Corporate Services, based in Perth. Joining Woodside in 1998, Mr Fallon is currently Acting SVP Corporate and Legal. Mr Fallon has 29-years of industry experience and previous Woodside roles including SVP Engineering, SVP Pluto Business Unit and SVP Audit.

Mark Abbotsford has been nominated to lead Marketing and Trading, based in Perth.

Mr Abbotsford joined Woodside in 2002 and has a career, spanning 20 years, in commercial, marketing, trading and merger & acquisition experience. Mr Abbotsford is currently Woodside’s VP Marketing, Trading and Shipping.

Andy Drummond has been nominated to lead Exploration and Development, based in Houston. Mr Drummond, who joined BHP on 2013, is currently VP of Sustainability and Innovation for BHP Petroleum, overseeing Environment, Social and Governance; Health, Safety and Environment and innovation activities.

Matthew Ridolfi has been nominated to lead Projects, based in Houston. Mr Ridolfi joined BHP in 1991 and is currently VP of Major Developments with accountability for global major developments and all business including Australia, the UK and the USA.

Shaun Gregory has been nominated to lead New Energy, based in Perth. Mr Gregory joined Woodside in 1995 and currently holds the role of EVP Sustainability and CTO, overseeing advancements in LNG, data science, AI and digital transformation.

Tony Cudmore has been nominated to lead Strategy and Climate, based in Pert. Joining BHP in 2014, Mr Cudmore is currently Group Sustainability and Public Policy Officer for BHP Group. Mr Cudmore serves as a Director of the BHP Foundation and has lead BHP’s work in climate and sustainability.

Daniel Kalms has been nominated to lead Merger Integration activities after completion of the proposed merger, based in Perth. Mr Kalms joined Woodside in 2001 and was previously Woodside’s SVP Corporate and Legal and SVP Development Planning. He also held the role of Pluto Plant Manager and oversaw the start-up of the Pluto LNG facility.

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Woodside and Santos pushed to disclose multibillion-dollar clean up ‘time bomb’ Mr Gocher said the actual cost to decommission facilities in Europe’s North Sea was found to be 76 per cent higher than the estimated cost.

Santos and Woodside record $US3.0 billion and $US2.1 billion respectively for decommissioning liabilities.

Woodside and Santos face shareholder votes to reveal the cost to decommission their facilities as activists broaden their assault on the oil and gas industry beyond emissions and the warming climate.

The Australasian Centre for Corporate Responsibility (ACCR) has filed shareholder resolutions with Australia’s two largest petroleum companies for them to disclose audited cost estimates to decommission each of their facilities.

A 2021 federal government-backed study estimated the industry must spend $56 billion by 2050 to decommission assets in Australian waters, with half the work starting this decade.

ACCR climate and environment director Dan Gocher said these costs were a “time bomb” for the industry.

“Investors must demand greater transparency on when infrastructure will reach end of life and the major assumptions driving estimated provisions,” he said.

Woodside’s exposure to decommissioning will increase significantly if its shareholders approve the purchase of BHP’s petroleum assets that include two ageing and sprawling assets: a 50 per cent stake in ExxonMobil’s Gippsland operation and an additional onesixth share of the North West Shelf LNG project operated by Woodside.

Santos also has significant obligations onshore from its decades of activity in the Cooper Basin and a share of declining oil production on WA’s Barrow Island. Its Bayu Undan platform in Timor Leste waters will likely cease production by 2023.

Both producers will release their 2021 annual reports this week. Any revisions to decommissioning obligations will be closely watched after a year when both the federal government made selling out of old assets more difficult and independent regulator NOPSEMA clamped down on continual delays to decommissioning.

The ACCR has also filed resolutions requesting Woodside and Santos to cease any advocacy incompatible with limiting

global warming to 1.5 degrees “including advocacy relating to the development of new oil and gas fields.”

Meanwhile, Friends of the Earth-backed Market Forces has called on the companies to disclose how their capital spending aligns with global emissions reaching net-zero by 2050.

In 2021, Santos sanctioned the $US3.6 billion Barossa development to supply its Darwin LNG plant and Woodside approved a $US12 billion project to develop the Scarborough gas field off WA and expand its Pluto LNG plant.

Market Forces campaigner Will van de Pol said the companies’ expansion plans threaten to waste investor capital on projects that would be stranded by the transition to cleaner energy.

“Woodside and Santos have not only rejected investors’ demands for alignment with global climate goals, they’ve actually moved in the complete opposite direction,” he said.

Santos told the market it disclosed decommissioning provisions “transparently and accurately,” its advocacy was consistent with the Paris Agreement, and it was “wellplaced to address the risks and seize the opportunities of the global transition to ever cleaner energy and fuels over coming decades.”

“New supply investment is essential to provide energy security and affordability for customers as the world moves to a low-carbon future,” the company said.

Global Maritime completes Marine Warranty Surveying Decommissioning Scope Global Maritime recently completed the Marine Warranty (MWS) scope for decommissioning the LOGGS Complex in Southern North Sea. The five bridge linked platforms were removed with Saipem vessel “S7000”. The operations were supported by the vessel “North Sea Giant”. All jackets, topsides and bridges have been transported and loaded in at Able UK, Hartlepool where they will be dismantled for recycling.

Robert Askins, London Operations Manager: “Global Maritime are delighted to

www.ogv.energy I March 2022

achieve this significant milestone. Working collaboratively with the client to complete this complex decommissioning campaign safely and efficiently is a testament to our strong working relationship.”

Global Maritime is a marine, offshore and engineering consultancy that specialises in marine warranty, dynamic positioning and engineering services. Known for innovation, practical experience, operational excellence and safety. Global Maritime has a proven track record in delivering the world’s most successful marine and offshore projects.

DECOMMISSIONING Russell Borthwick: Case for windfall tax misses point I HAVE great news – most of us are getting £12,750 this year.

Better yet, the taxpayer is picking up the bill.

Sounds great, doesn’t it? Well, it does, until I put some context around it. You see, the free money I’m telling you about is actually the personal allowance we get before income tax kicks in. Important context, this. Without it, people can easily be misled.

Did you see the headlines about those big oil companies making billions of pounds in profits? It gets worse – according to Channel 4 News – who told us that these oil companies are also currently “receiving money from the taxpayer” to pay for decommissioning work as older North Sea fields cease production. Outrageous.

Or so it appears, until a little context is placed around the claims, which are being pedalled by the campaign group Uplift. So here is that context. Currently oil and gas fields are ‘ring fenced’ for tax purposes and as such effectively operate as individual profit and loss centres. Each field therefore has its own ‘tax account’ within the tax system.

Owing to the fact that decommissioning tax reliefs can only be claimed when decommissioning spends are incurred companies will, over their productive life, effectively have ‘overpaid taxes’ and so will be in a ‘tax credit’ situation at cessation of production.

Filing for these tax reliefs in recent years when income streams have been low has attracted tax rebates against previous taxes on profits, paid in line with standard business taxation practices. This can give the appearance that the government is

paying towards decommissioning, but it is actually just a ‘rebalancing’ of the tax accounts. It is not cost, it is cashflow.

What Uplift did, with a knowing wink, was juxtaposition annual global earnings of oil majors against aggregated UK tax paid over the latter stages of operation, which is not just unfair, but intentionally misleading.

These reliefs should be viewed in the context of taxes paid over the lifetime of a field. The UK Government has received net tax revenues of over £330billion from the oil and gas sector since 1970, although the industry has “contributed nothing” according to Uplift. To me, it seems pretty clear that the industry has, in fact, made an unprecedented contribution to the UK Exchequer over the last five decades.

A balanced report on Channel 4 would have also outlined that between £45bn and £77bn of decommissioning costs are being directly borne by operators, with a further £24bn of reliefs making up the smaller portion of the estimated bill (National Audit Office figures). Of this £24bn figure, £12.9bn is tax which has effectively been overpaid by operators and needs rebalanced, as outlined above.

The rest of that sum (£11.1bn) is future tax revenue which will be forgone because of operators’ profits being reduced by decommissioning expenditure, which is classed as capital expenditure. This is essentially monies that were never due, so to characterise them as having been paid out to oil companies is, again, misleading.

An easy comparison would be the £12,570 personal allowance referenced earlier.

Would you class this as money “paid to you” by the taxpayer, or tax you were never required to pay? It is, of course, the latter.

The picture painted by Uplift was designed to support the flawed case for a windfall tax on North Sea operators. But it totally misses the point that these very same oil businesses are those that have the capital and are investing at scale in the new solutions like CCS, hydrogen and offshore wind that will see this country playing a leading role in the energy transition enabling carbon targets to be achieved.

Aberdeen & Grampian Chamber of Commerce has repeatedly called for a reasoned debate about the future of the UK’s domestic energy sector. That will never happen in the absence of proper context and where we have major broadcasters running unbalanced puff pieces based on the opinion of protest groups without doing the necessary due diligence on the content.

Russell Borthwick is chief executive of Aberdeen & Grampian Chamber of Commerce.

Repsol Sinopec Resources UK hands in decom plans for the Saltire platform Repsol Sinopec handed it’s proposal to regulator OPRED, covering the removal of the topsides, a wellhead protection unit and associated pipeline.

The platform jacket is subject to separate plans.

The plans which would start in Q2 2027 include the removal window for the Saltire topsides, which weigh more than 12,000 tonnes.

following a commercial tendering process.

Saltire lies around 125 miles northeast of Aberdeen, with the wider area including the namesake field along with the Chanter and Iona fields.

The processed oil was exported to the Piper B platform and from there sent on the Flotta terminal facilities. Gas was exported to the St Fergus terminal in Aberdeenshire.

The firm said it would endeavour to combine the removal programme with others, given the opportunity, to reduce mobilisation costs.

The platform was installed in 1992 in around 145 metre water depth and produced through until 2014 when production was suspended and then ultimately ceased altogether in 2016.

It added that the Saltire A topsides will be fully removed via a heavy lift vessel and returned to shore for recycling. However, a final decision on decommissioning method will be made

Iona was discovered in 1981 and started up in 1997, while Chanter, which lies about 2.5 miles away from Saltire was discovered in 1985 and began production in 2006.

DECOMMISSIONING SPONSORED BY

41

Offshore Energy Services Dashboard January / February 2022 Offshore Energy Services Dashboard January Offshore Energy Services Dashboard January/ February / February2022 2022

42

Offshore Field Development available from Offshore Field Development available from

STATS & ANALYTICS PROVIDED BY

SubseaLogix SubseaLogix

www.westwoodenergy.com

SubseaLogix SubseaLogix PlatformLogix PlatformLogix

PlatformLogix PlatformLogix

Offshore O&G EPC Awards Offshore O&G EPC Awards $billions $billions 8080

Westwood Global Energy Group are specialist providers of detailed market intelligence for the offshore energy sector, covering; offshore rigs, production facilities, subsea equipment, subsea services, offshore marine and offshore renewables and power.

Westwood Westwood Global Energy Global Energy Group Group

7070

Expected Expected Sanctioned Sanctioned

6060 5050 62.7 62.7

4040

62.1 Field Development Update 62.1 3030 Brent crude oil spot prices averaged $86.5/bbl in January and has traded above $90/ 42.9 41.8 bbl since 3 February 2022. This positive momentum has certainly been reflected in the 2020 42.9 41.8 oil & gas sector, with announced offshore engineering, procurement and construction (EPC) contract award worth approximately $10.5bn year-to-date. However, E&Ps remain 1010 14.4 disciplined with capex allocation as they look to invest in economically prolific projects.

14.4 10.5 10.5 Given this, TotalEnergies announced it will not take a final investment decision (FID) on the 0 0 ultra high-pressure North Platte project in the US GoM, resulting in a US$1.2bn downward 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 revision to forecast EPC award value in 2022. The operator also announced it will relinquish its operatorship and its 60% stake in the field with immediate effect. However, field partner Westwood’s 2022-23 outlook assumes a $65/bbl Brent price Equinor has expressed its commitment to developing the project.

Westwood’s 2022-23 outlook assumes a $65/bbl Brent oiloil price Notable contract awards announced of late include TechnipFMC’s SURF award for Petrobras’ Buzios 6 project that will host the P-78 floating production, storage and offloading (FPSO) unit. In Brazil, Yinson signed a firm contract with Petrobras for the 22.5year charter, operations and maintenance of the Maria Quitéria FPSO to be deployed on Petrobras’ Jubarte field, following a letter of intent (LOI) issued to Yinson in November 2021. In the US GoM, Subsea 7 announced the award for subsea installation services for Beacon Offshore’s Shenandoah development. The work scope includes the EPCIC of subsea equipment including structures, umbilicals, production and gas export lines.

Furthermore, Subsea 7 will also be responsible for the wet tow and hook-up of the floating production semisubmersible (FPSS) to the field and mooring system installation.

Offshore Rig Update The global jackup rig count edged up by two rigs to 350 in January. Effective utilisation, which excludes cold stacked rigs, was 82.5%, the highest recorded since January 2015.

The number of available, marketed jackups is at 74, while another 66 units are cold stacked. Eight rig years of drilling work was awarded this past month, with an average global fixture dayrate of $75,000.

Subsea Tree Awards Subsea Tree Awards

#XTs #XTs

2022 13 2022 13

157 157

2021 2021

118 118

41

Sanctioned Sanctioned Probable Probable

175 175

41

Firm Firm Possible Possible

FPS Throughput Additions Year Sanction FPS Throughput Additions byby Year ofofSanction

Global semisubmersible (semi) total utilisation continued its decline, falling to 49.2% in kpoepd January, despite a supply reduction. The last time semi utilisation fell this low was over a kpoepd year ago. Total semi supply fell by 10% from 112 to 101 between January 2021 and the 3000 LNG end of January 2022. The number of contracted units in January 2022 totaled 51. Despite 3000 Gas LNG 2500 the drop in utilisation, two, three-year contract signings for Petrobras resulted in 8.6 rig Gas Liquids years of contract backlog awarded. For the month, the average fixture rate was $224,000. 2500 2000 Liquids 2000

1500 A total of 60 drillships were under contract in January, and marketed utilisation continued 1500 its upward trend. Since November 2021, utilsation climbed from 72% to 77%. Currently, 1000 there are 18 available marketed units, with another 17 units cold stacked. For the first 1000500 month of the year, there had been no attrition and just one new fixture. While there were 500 0 293 days of contract backlog added in January, the average fixture rate for the lone fixture 0 was $295,000, a large increase from the $217,000 average in December 2021. Another substantial rise in the average dayrate is expected for February.

www.ogv.energy I March 2022

2022 2022

2023 2023

BP

Petronas Petronas

BP

Shell Shell

Chevron Chevron

QatarEnergy QatarEnergy

CNOOC CNOOC

ExxonMobil ExxonMobil

7.4 7.2 30.2 19.6 14.3 14.0 12.4 11.1 10.4 9.9 7.4 7.2 30.2 19.6 14.3 14.0 12.4 11.1 10.4 9.9

Other Other

123.5 123.5

Woodside Woodside

In Italy, the first of 10 MySE 3.0-135 wind turbines were installed at the 30 MW Taranto wind farm, marking MingYang’s first steel in European waters. Meanwhile, a 5 GW target of installed offshore wind capacity has been set by the US state of Louisiana. The target was approved by the state’s Climate Initiatives Task Force, and it is aiming to achieve this target by 2035.

2021 2021

$billions to be awarded

Equinor Equinor

In the UK, noteworthy is the granting of the highly anticipated development consent to Vattenfall’s 1.8 GW Norfolk Vanguard wind farm, enabling the developer to move forward with the development in conjunction with its 1.8 GW Norfolk Boreas project. Norfolk Vanguard initially received a consent in July 2020, but this was quashed by the High Court in February 2021. The UK government also announced that it will hold yearly Contracts for Difference (CfD) subsidy auctions starting from March 2023 when the fifth CfD round opens, moving away from its current practice of executing bi-yearly auctions.

2020 2020

Offshore O&G EPC Awards 2022-26 by E&P Offshore O&G EPC Awards 2022-26 by E&P $billions to be awarded

Petrobras Petrobras

Offshore Wind Update Since the last update, a total of 162 MW of capacity advanced into EPCI stage, with FID taken on the 132 MW South Fork development offshore USA and the 30 MW Leucate project offshore France. A total of three V164-10.0MW turbine orders associated with the latter project were placed, with orders for South Fork’s 12 SG 11.0-200 DD turbines already firmed up in 4Q 2021.

2019 2019

43 Offshore Energy Services Dashboard January / February 2022 Westwood Westwood GlobalEnergy Energy Global Offshore Energy Services Dashboard January / February 2022 Offshore Group Group

Offshore Rigs Rigs available available from Offshore

RigLogix RigLogix

Backlog Month-on-Month Month-on-Month (Rig (Rig Years) Years)

Global Rig Count Jackups Jackups

Semisubs Semisubs

66 66

Drillships Drillships

18 18

74 74

24 24

490 490

Jackups Jackups

19 19

Semisubs Semisubs

Contracted Contracted

February February 11

February February11

January January 11

January January 11

January January11

614.2 614.2

Available Available

92.2 92.2

116.9 116.9

95 95

51 51

17 17

Drillships Drillships 60 60

34 34

350 350

February February 11

18 18

102 102

54 54

RigLogix RigLogix

Stacked Stacked

629.0 629.0

87.3 87.3

121.2 121.2

Regional Rig Rig Count Count Month-on-Month Month-on-Month (February Regional (February vs vs January) January)

Global NW Global Europe NW Europe

US GOM US GOM

SE Asia SE Asia

80% 80%

Jan-20 Jan-20 Mar-20 Mar-20 May-20 May-20 Jul-20 Jul-20 Sep-20 Sep-20 Nov-20 Nov-20 Jan-21 Jan-21 Mar-21 Mar-21 May-21 May-21 Jul-21 Jul-21 Sep-21 Sep-21 Nov-21 Nov-21 Jan-22 Jan-22

75% 75%

Global Global

USUS GOM GOM

SE SE Asia Asia

Europe NWNW Europe

Effective Effective

Latin Arab Gulf America Latin Arab Gulf America

Arab Gulf Arab Gulf

-0.4 -0.4

Latin America Latin America

-0.3 -0.3

85% 85% 80%

80% 75% 75% 70% 70% 65% 65% 60% 60% 55% 55% 50% 50% 45% 45% 40% 40%

available from available from

Jan-20 Jan-20 Mar-20 Mar-20 May-20 May-20 Jul-20 Jul-20 Sep-20 Sep-20 Nov-20 Nov-20 Jan-21 Jan-21 Mar-21 Mar-21 May-21 May-21 Jul-21 Jul-21 Sep-21 Sep-21 Nov-21 Nov-21 Jan-22 Jan-22

75% 75% 70% 70% 65% 65% 60% 60% 55% 55% 50% 50% 45% 45% 40% 40%

Total Total

Jan-20 Jan-20 Mar-20 Mar-20 May-20 May-20 Jul-20 Jul-20 Sep-20 Sep-20 Nov-20 Nov-20 Jan-21 Jan-21 Mar-21 Mar-21 May-21 May-21 Jul-21 Jul-21 Sep-21 Sep-21 Nov-21 Nov-21 Jan-22 Jan-22

85% 85%

Arab Gulf Arab Gulf

Latin Arab Gulf America Latin Arab Gulf America

Latin America Latin America

Mar-21 Mar-21

May-21 May-21

Jan-21 Jan-21

SE Asia SE Asia

SE SE Asia Asia

Nov-20 Nov-20

US GOM US GOM

Global Rig Utilisation Global Rig Utilisation

70% 70% 65% 65% 60% 60%

1.3 1.3

0.5 0.5

USUS GOM GOM

Jul-20 Jul-20

NW Europe NW Europe

NWNW Europe Europe

Global Global

Sep-20 Sep-20

May-20 May-20

Latin Arab Gulf America Latin Arab Gulf America

-2.4 -2.4

Global Global

SE Asia SE Asia

Jan-20 Jan-20

US GOM US GOM

Mar-20 Mar-20

NW Europe NW Europe

0.1 0.1 -1.2 -1.2

Nov-19 Nov-19

Global Global

3.9 -3.9 -

1.3 1.3

Jul-19 Jul-19

2.5 -2.5 -

85.00% 3.5 85.00% 3.5 80.00% 80.00% 0.575.00% 0.575.00% 70.00% 70.00% 65.00% 65.00% 60.00% 60.00%

Sep-19 Sep-19

1.9 1.9

WindLogix WindLogix

WindLogix WindLogix

Offshore WTG Awards (excl. Mainland China) Offshore WTG Awards (excl. Mainland China) #WTGs #WTGs 1800 1800 1600

1600 1400

Expected Awarded Expected

Goldwind 5% Goldwind General5%

Awarded

Electric General (GE) Electric 17% (GE) 17%

1400 1200 1200 1000 1000 800 800 600

Vestas 18% Vestas 18%

600 400

Ming Yang Other 4% 2% Ming Yang Other 4% 2%

Awarded by OEM by Awarded OEM

Siemens Gamesa Siemens 54% Gamesa 54%

East Europe & FSU 13% East Europe & FSU 13% Asia 17% Asia 17%

Region

400 200 2000 0

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

Expected by Region by Expected

North America 25% North America 25%

STATS & ANALYTICS SPONSORED BY

West Europe West 45% Europe 45%

44

LEGAL & FINANCE

Duncan MacLean (Partner) and Sarah Polson (Associate)

What to do if your ship is arrested in Scotland – a Shipowner's perspective

Sarah Polson (Associate)

A ship arrest refers to a scenario in which a ship may be arrested and held under judicial authority as security for debt because a claim for payment of a sum of money has been made against it or its owner. Scotland has its own court system and has a different process for arresting a vessel to that in England therefore as a shipowner you need to consider the type of advice you will need in this situation.

Review the ship arrest papers If papers are served on the ship, review and retain all the papers to see why your ship has been arrested, and on what authority. The key point is that the creditor having the vessel arrested will need to have raised a court action with the relevant arguments and documents presented to the court in order to obtain the warrant to have the ship arrested in Scotland. In order to arrest a ship in Scotland, certain criteria must be met: A. The ship itself is the subject of the

dispute and the defending party must own at least one share in the ship or be the bareboat charterer; or

B. Even if the ship is not the subject of the dispute it can still be arrested if all shares in the ship are owned by the debtor who is defending party.

Always contact your lawyer for advice. You may also need to contact your insurer if arrestment is an insured risk.

Consider if there is a valid claim against you Has the action been raised against the correct entity? The three types of ship arrest and some of the valid claims for ship arrest are noted below:

1. Arresting to found jurisdiction. Where the

ship is located in Scotland, that is sufficient to obtain warrant to arrest the ship to establish jurisdiction for the relevant Scottish Court to hear the case. However, arresting the ship for this reason will still require there to be a separate arrestment "on the dependence" of the court action raised for the claim as noted in point 2 below.

2. Arrestment on the dependence in an action 'in personam'. This is an arrestment granted as part of a court action and is the most common type relating to assets owned by the debtor,for example, in a case seeking security for a debt owed by a shipowner.

Various circumstances (established

www.ogv.energy I March 2022

under statute) permit arrestment on the dependence including damage done or received by any ship, any agreement relating to the use or hire of any ship whether by charterparty or otherwise, liability for payment of wages of a master or member of the crew of a ship, but do not include every debt of the debtor.

3. Arrestment 'in rem'. Here the claim is

directed against the ship itself, enforcing a right against it which can trump a mortgage even if the owner has changed since the claim arose. Actions ‘in rem’ would be used to enforce a maritime lien in Scotland, for example, covering crew wages, claims for salvage and for damages arising from a collision at sea.

What if the ship arrest is wrongful?

In Scotland, an arrest is at the risk of the pursuer (claimant), so a wrongful arrest claim can result in damages being awarded against the arresting party, without the need to show that the arrestment was exercised maliciously or without probable cause. Therefore it is important for the shipowner to obtain advice as soon as the warrant is received.

Duncan MacLean (Partner)

What if the arrest is valid?

If the arrest is considered valid, it is important to take steps to ensure an expeditious release of the vessel, as having a vessel detained can have a significant financial impact.

As the shipowner, you will require to give security to the creditor to secure the release.

There are various forms that this could take, for example, a P&I Club undertaking or a bank guarantee.In short, if you are the owner of a vessel under ship arrest, you should:

1. Review and retain all the papers.

2. Liaise with your lawyer and provide all relevant papers about the underlying dispute.

3. Consider if the arrest is valid, and whether the action been raised against the correct entity.

4. If you are advised the arrest is wrongful,

consider your right to a claim for damages.

5. If the arrest is valid, arrange for security which will allow the vessel to be released pending the resolution of the underlying dispute.

45

DATA “an incredibly valuable resource for businesses and other organisations"

By Nic Granger, OGA Director of Corporate and CFO The recent UK National Data Strategy recognised data as “an incredibly valuable resource for businesses and other organisations”. This isn’t news to the energy sector, in the 2014 Wood review, the importance of data was key; “the ready access to timely data is a prerequisite for a competitive market and this is even more important in an industry which relies on good data to create value.”

The OGA has always treated data as a critical asset for the UK Continental Shelf (UKCS). We were given a strong mandate in the Energy Act 2016 to enable the collection, retention and ultimately disclosure of data that would enable the industry, including the supply chain, to create the greatest value.

Digital Strategy The OGA’s 2020 digital strategy aims to build and embed a culture of digital excellence across industry whilst developing public trust in open and transparent quality data and platforms. A key to this is unlocking data value through advanced analytical tools and using OGA influence to unlock further the value for the industry and supply chain.

The NDR provides all users with immediate free access to data that was previously expensive and time-consuming to retrieve. The data is useful in decision-making including exploration, production efficiency and the drive to net zero – particularly the identification of potential sites for carbon storage.

This has led to data being made available through several platforms, which we plan to integrate into a single point of entry; the Digital Energy Platform.

This data is freely available to the energy sector supply chain, industry and academia and will become ever more critical as we transition to a low carbon economy, for example, through identifying potential locations for carbon storage sites.

Energy Pathfinder

Open data The open data site makes OGA data freely available to everyone to use and republish and can be viewed through a GIS interface, download direct or through APIs. With access to licence information, well information, production data, various exploration studies, pipeline and infrastructure data the portal has over 50million API hits a year.

NDR The National Data Repository (NDR) enables reporting by industry of key data and provides free public access to 180TB of online and a further 150TB offline industry data, including well, geophysical, and other petroleum licence data. Using cloud-based technology the NDR has increased the easily available data fivefold, making more than 50 years’ worth of crucial North Sea data available – helping companies make better informed decisions to guide their transition to net zero.

This portal allows industry and supply chain to identify contract opportunities from across the offshore energy section in the UKCS. Extensively redeveloped in 2021, the portal has more than 1,000 subscribers, including details of operators and Tier 1 suppliers so smaller companies can bid for sub-contracts, opportunities for collaboration for innovative solutions and see forward work plans for upcoming tenders.

Recently released interactive decommissioning dashboards also help the supply chain keep abreast of medium-term work, including heavy-lift vessel owners, drilling contractors, subsea specialists, onshore dismantling firms and waste managers.

What’s next We continue to work towards creating our single easy-to-use OGA digital energy platform integrating our digital and data offerings and work with other parts of the offshore energy sector including the creation of a cohesive Offshore Energy Digital and Data Strategy with Energy Systems Catapult and other offshore energy organisations.

46

COMMUNITY PARTNER

AFC Youth Academy hosts Katoni Cup The Aberdeen FC Youth Academy proudly saw the return of its elite 5v5 indoor tournament, the Katoni Cup, hosted at Aberdeen Sports Village at the end of last month following a two-year absence due to COVID restrictions.

In partnership with long-running event sponsor, Katoni Engineering, the highly competitive tournament saw Club Academy Scotland teams from the U13’s (2011) age category compete to win the coveted Katoni Cup. A huge success in previous years, the event has attracted the top teams in Scotland, with the 2022 edition featuring Celtic, Dundee, Hamilton Accies, Heart of Midlothian, Hibernian, Ross County, and Rangers who joined for the first time this year.

CEO at Katoni Engineering, James Bream, said: “We are delighted to have seen the return of the Katoni Cup. This tournament truly reflects our values in supporting the development of young talent in Aberdeen to reach their maximum potential, as this will only benefit our region.”

“The talent on show at the tournament is always outstanding, this weekend was no different and it makes for a brilliant community event.”

The tournament was a fun filled afternoon with music between matches providing added atmosphere. Celtic came out on top as the Katoni Cup winners, while the hosts Aberdeen won the Katoni Shield. With some outstanding talent on show, Hamilton Accies took home both Player of the Tournament categories. Kai Stevenson won Goalkeeper of the Tournament and Paul Francis was voted Player of the Tournament.

The return of the Katoni Cup was a significant milestone for AFC Youth Academy following two years of restricted activity as AFC Foundation Phase Manager, Liam McGarry, explained.

He said: “Sadly, due to the pandemic we have been unable to host the Katoni Cup for a number of years, so it was fantastic to be in a position to host the fourth edition of the tournament. It’s always been a huge success with the competing teams.”

“The tournament is a showcase event for us where the best players in the country at that age group are able to display their technical and creative ability in a competitive environment.”

“As a Club we are very proud to host events like this in Aberdeen and I think it is testament to the standard of the tournament that all teams who have previously competed returned this year and we continue to receive very positive feedback.”

“We are extremely grateful to Katoni Engineering for their continued support. They remain committed to playing their part in helping us nurture and develop the top talent in the north-east of Scotland.”

Robbie Hedderman, Business Development Manager for Aberdeen Football Club added: “Katoni Engineering believe in helping the next generation of young people in Aberdeen to achieve and to be the best version of themselves and it wouldn’t be possible to run a tournament of such a high standard without their support. Aberdeen Football Club are proud to continue a relationship with such a community focused business.”

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GLOBAL EVENTS THE FUTURE OF THE NORTH SEA: ENERGY TRANSITION TO NET ZERO SUMMIT 2-3 MAR - ABERDEEN, UK

VENTUR – THE TRAVEL PARTNER Specialists in connecting people through travel, ventur’s expertise in partnering with businesses in the oil and gas industry is second to none.

In May this year, the travel management specialist formerly known as Traveleads, unveiled its new identity as part of a business transformation to elevate standards of service and deliver clients a premium, tailored travel management experience.

Following in-depth research which highlighted that customers truly valued the firm’s expertise, consultative approach and relationships with the team, the new identity of ventur – the travel partner was revealed, bringing together the decades worth of experience, efficiency and accessibility with a commitment to creating a culture of success and adding even more value to customers’ travel programmes.

Here, we chat to client services director – corporate, Maggie Monteith, about the company’s exciting year and plans for the months ahead.

TELL US A LITTLE MORE ABOUT VENTUR As Ventur, it’s important to us that we’re constantly evolving to meet and exceed customer needs – that’s what makes us The Travel Partner.

Customers are always at the heart of what we do, whether it’s understanding the often-urgent nature of enquiries, ensuring travellers are safe or simply helping them navigate a complex travel landscape, they can rely on our expert team to get them to their ‘there’ seamlessly.

We help them travel safely wherever they need to be – whether they’re travelling to industryleading conferences, carrying out essential work or building relationships with business associates across the world, we’re here to help them every step of the way.

LISTEN TO VENTUR FURTHER

Featuring guests such as tennis legends Tim Henman OBE and Judy Murray OBE to CEOs including Anthony Gruppo of Marsh Commercial and Steve Birch of Sky Betting and Gaming, the podcast takes a deeper dive into how – and why – successful people reach their accomplishments.

Plus, with life-changing advice from global life coaches such as Brian Tracy and Anil Gupta to stories of mindset and determination from the likes of Jasmine Harrison, the youngest woman to row the Atlantic solo and Dr Neslyn Watson-Druée CBE who arrived in the UK at 19, working her way up to become Chairman of NHS Kingston, Ventur Further is the perfect dose of weekly motivation.

Available on major podcast streaming services, including Apple Music and Spotify, Ventur Further is sponsored by luxury boutique hotel brand, Dakota Hotels, which has locations in Leeds, Manchester, Edinburgh and Glasgow.

Ventur Further can be found on ventur.partners/ podcast. Follow Ventur on LinkedIn, Twitter, Instagram and Facebook for further updates.

TRAVELLING TO ADIPEC WITH VENTUR Fully vaccinated travellers can now fly to Abu Dhabi without the need for quarantine.

Contact us at hello@ventur.partners, call +44 (0)113 245 7745 for more information on the below package*: •Return economy class flights from Aberdeen to Abu Dhabi via Amsterdam •Five nights’ accommodation at the Four Star Yas Island Rotana Hotel, including daily breakfast and complimentary Yas Beach access (classic room) •Return private car airport transfers in Abu Dhabi •Complimentary shuttle bus operation from the hotel to the ADIPEC show •Price from £1,175.00 per person (twin share) •Sole traveller supplement £400.00 Alternative hotels and flights options are available including departures from Edinburgh and Glasgow, please contact us for latest prices and also for upgrade supplements. *Please note, all details and costs will be subject to availability at the time of booking.

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Compelling insights, inspirational people and stories of growth are being shared on Ventur’s weekly podcast, Ventur Further.

With new episodes released every Tuesday, Ventur Further sees Ventur’s board advisor, Peter Wilcock, invite guests from musical, sporting, business and adventure-seeking backgrounds to discuss career journeys, life stories and their personal inspirations.

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At AIS Survivex we are passionately focused on allowing people to fulfil their potential, be better prepared and more confident in their job role to maximise their career opportunities.

Ultimately we want to make the energy industry as a whole safer, smarter and more efficient through better training.

#OILANDGASJOBS We work in partnership with energy sector companies and recruiters to host regular careers events...

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Newcastle, Dyce, Altens, Montrose & Quayside. training@ais-survivex.com 0330 202 0569 AIS Survivex is part of 3t Energy Group.