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Technology & Innovation

Drilling for savings

How energy, resources and marine companies can reduce costs By Peter Brady and Martin Lonergan* ALTHOUGH conditions seem to be improving in global oil markets, experience over the past years reveals that companies in the energy, resources and marine (ERM) sectors must continue to streamline processes to keep costs in control. Travel remains a key function for these companies to maintain their operations at rigs, fields or mines, which still

Study forecasts a boost in Asia Pacific oil and gas investments

CONFIDENCE in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL. The study found that 76% of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own

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