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Technology & Innovation

Deploying your FPSO – the mitigation fiction vs. the technical and regulatory reality

By Nick Cooper and Tim Donisi, Clayton Utz KEY point: A poorly drafted (or non-existent) set-off clause could generate a costly and time consuming dispute about mitigation of loss and redeployment, but contractors can help avoid this pitfall. Like many pieces of equipment in the offshore oil and gas sector, floating, production, storage and offloading (FPSO) vessels are bespoke assets designed and constructed, at great capital expenditure, to comply with

IEA Oil Market Report says industry is heeding the warnings

IN the IEA’s Octoer month’s Report, it noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia and the United States more than compensating for falls in production in Iran, Venezuela and elsewhere. New data show that the pace has accelerated, and this higher output, in combination with Iranian sanctions waivers issued by the US and steady demand growth, implies

Siemens and Bentley Systems announce PlantSight digital twin cloud services

SIEMENS and Bentley Systems have introduced the PlantSight digital solution for providing customers with more efficient plant operations. PlantSight enables as-operated and up-to-date digital twins which synchronize with both physical reality and engineering data, creating a holistic digital context for consistently understood digital components across disparate data sources, for any operating plant. Plant operators benefit from high trustworthiness and quality of information for continuous operational readiness and more reliability. Every

ICON completes world’s deepest CAN-ductor deployment and recovery

THE world’s deepest installation of a CAN-ductor (Conductor Anchor Node suction pile with integrated conductor) well foundation has been completed after being successfully recovered from Woodside Energy’s Ferrand-1 deepwater exploration well in the Carnarvon Basin, offshore Western Australia. The CAN-ductor was designed, supplied, installed and recovered by a venture comprising Norwegian developers Neodrill AS and Australian offshore installation contractor ICON Engineering Pty Ltd using a Siem Offshore Anchor Handling Tug

Programme promotes oil and gas options to female students

FEMALE school leavers are being encouraged to consider engineering careers in the Australian oil and gas sector, thanks to a Perth-based outreach programme targeting high school students. The Women in Subsea Engineering Network (WISE) is currently mentoring 30 female students as part of a week-long Future Engineers Program. The high school outreach program showcases the diversity of opportunities and interesting careers available for female students to consider as they make

How Blockchain can fuel the next boom in the oil & gas industry

By Jan Erik Johannson THE recent turbulence in cryptocurrencies such as Bitcoin and Ethereum has brought blockchain implementation into the public eye. At the same time, CXOs across industries are increasingly recognizing the potential value that blockchain can deliver. In his book, ‘The Fourth Industrial Revolution’, Founder and Executive Director of World Economic Forum, Klaus Schwab, features a survey of 800 executives. 58% of respondents believe that 10% of global

Innovative NT gas strategy welcomed by oil and gas sector

The Northern Territory’s oil and gas industry has welcomed the recent announcement of the Territory Government’s Gas Strategy. Released at the South East Asia Australia Offshore and Onshore Gas (SEAAOC) conference in Darwin, the Gas Strategy outlines a five-point plan to develop the NT’s substantial offshore and onshore gas resources to create new jobs and opportunities for downstream gas-based manufacturing. The plan aims to create a world class hub for

Are You Overlooking a Significant Source of Savings?

Some oil producers are using chemical management and saving up to 10 percent in chemical costs. By Richard Irwin, Senior Product Marketer, Asset Performance, Bentley Systems, Inc.   While oil prices are rising once again after the sharp decline over the last few years, there is still great emphasis on significantly reducing costs across all areas of production, both on and off shore. One area that is often overlooked in

VEEM’s Gyrostabilizers pass international sea trial

AUSTRALIA-based propeller, fin system and gyrostabiliser manufacturer VEEM Ltd reports that leading international ship builder Damen Shipyards Group has successfully undertaken sea trails utilising VEEM Gyrostabilizers on board a Damen Fast Crew Supplier vessel. Over two days in June, Damen hosted international delegates from the offshore renewable and non-renewable industries on board a Damen Fast Crew Supplier 5009 fitted with two VEEM VG260SD Gyrostabilizers and equipped with an Ampelmann L-type