Energy News Update to 22/12/22.Canada Rig Count is down 103 from last week to 96
U.S. Rig Count is up 3 from last week to 779 with oil rigs up 2 to 622, gas rigs up 1 to 155 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 103 from last week to 96, with oil rigs down 92 to 32, gas rigs down 11 to 64.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 22 December 2022 | 779 | +3 |
| Canada | 22 December 2022 | 96 | -103 |
| International | November 2022 | 910 | -1 |
Petrofac, a leading provider of services to the global energy industry, and Empresa Nacional de Hidrocarbonetos (ENH), Mozambique’s state-owned energy exploration and production company, have formed a Joint Venture (JV) for the provision of training services.
Designed to support nationalisation goals across the country’s expanding energy industry, ENH’s stake in the JV has been determined at 51% and Petrofac’s at 49%. The partnership will provide training and competence management solutions for Mozambique’s domestic onshore and offshore developments, as the country continues its transformation from a natural resource producer to an energy and industrial giant, and the largest LNG producer in sub-Saharan Africa. Read More
Petrofac issues the following pre-close trading update for the year ending 31 December 2022.
Continued strong performance in Asset Solutions and IES offset by challenges in E&C
Expect a full year EBIT loss in E&C of approximately US$190 million for 2022, yielding a total Group EBIT loss of approximately US$100 million
Reflecting adverse commercial settlements, further unrecovered cost overruns in the legacy portfolio and cost increases on the Thai Oil Clean Fuel joint venture contract
We will seek, working closely with our Thai Oil joint venture partners, to mitigate those increases over the remainder of that contract in addition to seeking to realise other portfolio upsides
Six legacy E&C lump-sum contracts were completed or substantially completed (1) in the second half
Asset Solutions on track to deliver full year EBIT margin of 5-6%
Robust IES performance driven by high production, operational performance and oil prices
Positive outlook for the recovery in E&C and continued growth in Asset Solutions, with a healthy total Group pipeline of US$68 billion scheduled for award in the next 18 months
Pipeline includes bids submitted of US$5.5 billion, and a further US$1.5 billion where we are at preferred bidder stage
Net debt was US$396 million (2) at 15 December 2022, with cash management partly offsetting the delays in E&C contract awards and the unrecovered cost overruns in the E&C legacy portfolio during the second half Read More
Production starts at Tinrhert Field Development project in Algeria
Our client Sonatrach has announced the completion of production start-up of the Tinrhert to Ohanet gas field in Algeria.
Petrofac’s scope of work has included a new inlet separation and compression centre, extending the existing Central Processing Facility which we were involved in delivering in 2002. The commissioning completion of the surface facilities from has led to a production level of 4.5 million m3/day of gas, 500 tons/day of LPG and 800 tons/day of condensate, exceeding the expected forecasts for the project. Read More
Iberdrola has entrusted Ingeteam with the supply and commissioning of the largest solar power plant in Europe to date. It is the Francisco Pizarro solar plant, located in Cáceres, which reflects Iberdrola’s commitment to providing its projects with local technology.
With an installed capacity of more than 590 MW, the solar power plant is already in operation and generating enough energy to power 334,400 households a year.
Ingeteam provided its technology via the supply of 92 power stations, 312 solar inverters, the power plant controller (PPC), and electricity substation and solar power plant connection works, thanks to the expertise of its team of commissioning technicians.
Jesús Echarte, commercial director of Ingeteam’s solar power business, emphasised that “this project is very important for Ingeteam, as it has further strengthened our long-standing and very good commercial relationship with Iberdrola. It has also allowed us to play the role we like best: that of a technology partner, where we accompany the customer in all phases of project development. Read More
Ingeteam’s cutting-edge technology is to enable the immensity of the ocean floor to be observed close-up in a more sustainable fashion, thanks to the electrical equipment that the company is to supply to the Spanish Oceanographic Institute for the Odón de Buen, which is to be Spain’s largest marine research vessel.
This highly specialised equipment features the latest technology in green propulsion, which will enable the Odón de Buen (named after the founder of the Spanish Oceanographic Institute) to run in complete silence. This is essential for ocean observation and working with scientific echo-sounders. The vessel also has low CO2 emissions to minimise its impact on and disturbance of marine organisms.
Ingeteam is currently manufacturing the Indar electric motors and Ingedrive power converters for the vessel’s main and tunnel drive propulsion units. In all this means 2 motors and 6 power converters with different ratings, enabling gas emissions into the atmosphere to be reduced. The company is also to supply the propulsion control system for the vessel, which is designed to increase the efficiency of the main and auxiliary propulsion units.
The technological solutions developed by Ingeteam for this vessel will help to make it possible for the first time to study marine ecosystems, habitats and the ocean floor anywhere in the world, including the areas around the poles, at depths in excess of 6000 m. The vessel is to be 85 m long and 18 in width, with a range of 50 days. There will be room on board for a 500 m2 laboratory. Its cost is close to €85 million, and construction is under way at the Astilleros Armón shipyard in Vigo. The vessel is to come into service in 2025, in a further landmark in the solid links between the two companies as they seek to lead the worldwide oceanographic market. The Odon de Buen is to have a clearly global, multi-purpose remit. It will enable projects to be diversified in areas such as marine biology, geology and fishing, to name but a few. Read More
The Abu Dhabi Ports Group has signed a deal with National Marine Dredging Company Group to set up a new joint venture company that will conduct offshore surveys and subsea services in the UAE, across the GCC region, as well as in select international markets. The new joint venture titled “Safeen Surveys and Subsea Services”, will offer a unique portfolio comprising offshore surveys (geophysical and geotechnical), trenching, and dredging support services. Additionally, it will provide integrated subsea services, such as commercial diving services, remotely-operated vehicles, and unmanned inspections vessels, along with the provision of customised, cost effective and innovative solutions tailored for offshore operations related to the oil, gas and renewable energy sectors. The deal was signed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, and Yasser Zaghloul, Group CEO at National Marine Dredging Group. “Safeen Surveys and Subsea Services will deliver exceptional experience and expertise in the marine and diving services for our UAE clients to take advantage of This in turn further supports the leadership’s efforts to foster a sustainable, diversified, and knowledge-based economy,” Al Shamisi said. For his part, Zaghloul commented, “By combining our expertise with our long-term partner, AD Ports Group, the new company will offer the most advanced and innovative offshore surveys and diving solutions to different types of environments and across wider geographies. This will without a doubt contribute to NMDC Group’s ongoing growth and expansion strategy as it further strengthens its reputation as a global EPC and marine dredging major.” Captain Ammar Mubarak Al Shaiba, CEO of Safeen Feeders and Acting CEO of the Ports Operating Company at AD Ports Group, added, “The new joint venture will take the offshore surveys and subsea services towards new horizons by combining the excellent track record of both organisations and implementing novel innovations across some of the most region’s most demanding active projects.” Read More
INEOS received a gold sustainability score from EcoVadis, the world’s most trusted provider of business sustainability ratings.
The overall rating, covering the companies global operations, puts INEOS into the top 8% of companies in the sector demonstrating an advanced management system in terms of environment issues, ethics, labour and human rights, and sustainable procurement.
INEOS scored particularly well on its environmental performance. In this category it was placed it into the top 6% of companies in the sector. This environmental performance rating reflects INEOS’ commitment to pursue science-based greenhouse gas emission reduction targets, where INEOS roadmaps to net zero focus on switching to green power and clean fuels, capturing CO2 and switching to recycled or bio-feedstock. INEOS is also committed to reducing plastic waste, as demonstrated in its pledge to a new circular approach to plastics production. Read More
Vestas has received a 37 MW order for a wind park in Italy. The contract includes the supply and installation of six V162-6.2 MW wind turbines, as well as a 10-year Active Output Management 5000 (AOM 5000) service agreement.
“We are glad to see how the advanced modularity of the EnVentus platform continues to contribute to the expansion of wind energy in Italy. The wide range of turbine configurations of this new platform will allow us to meet different market demands more efficiently, and we expect it to have a key role in the country’s energy transition over the next decade”, says Francesco Amati, Vestas General Manager Italy and Turkey. Turbine delivery is expected by the third quarter of 2023 whilst commissioning is planned by the fourth quarter of 2023. Read More
Vestas has received a 126 MW order for the Bord na Móna Derrinlough Wind Farm Project in Ireland. The order includes a total of 21 V150-6.0 MW EnVentus wind turbines with a site-specific hub height of 110m for a site in County Offaly, located in the Irish midlands.
The order includes supply, installation, and commissioning of the turbines, as well as a 20-year Active Output Management 5000 (AOM 5000) service agreement, designed to ensure optimised performance of the assets.
Derrinlough at 126 MW is the largest wind project to successfully clear the recent RESS-2 Auction and once installed, it will be the largest single wind farm installation in Ireland. This order also marks the first deployment of the V150-6.0 MW EnVentus technology project for Vestas in Ireland. Read More
Vestas has received a 108 MW order from Infinergy UK to power the Limekiln project in the United Kingdom.
The order includes supply, installation, and commissioning of 24 V136-4.5 MW turbines at a tip height of 150m, as well as a 20-year Active Output Management 5000 (AOM 5000) service agreement.
“Vestas are proud to work with Infinergy for the first time in the UK, and we are excited to yet-again supply the V136-4.5 MW for the UK market,” says Juan Furones, Vice President Sales for Northern and Central Europe at Vestas. “We are pleased to contribute to the UK’s Net-Zero ambitions through our industry-leading wind energy solutions and strong partnership with our customers.”
The site is located around 13 miles west of Thurso in the Scottish Highlands. The delivery and installation of the wind turbines are expected to occur in the second quarter of 2024 with the commissioning scheduled for the third quarter of 2024. Read More
LEVC (London Electric Vehicle Company) today begins a momentous new chapter, setting its brand direction for the coming decade and beyond, with a new strategy to become a leading zero-carbon mobility technology company.
Building on unrivalled heritage in purpose-built vehicles – LEVC has manufactured the iconic London taxi for more than 70 years – the company’s new strategy will see it grow beyond manufacturing the world’s most advanced taxi, the TX. LEVC is today announcing its commitment to deliver smart, green, safe and accessible mobility solutions to more people than ever before.
Underlining this commitment, LEVC UK today reveals its new senior management team, who will implement the new strategy. The new appointments will maximise the engineering, marketing and production expertise that exists at the firm’s state-of-the-art home in Ansty, UK, backed by the global resources of parent company Geely Holding Group. Read More
National Marine Dredging Company Group has reported net profit growth of 74.4 per cent, reaching Dhs403m in H1 2022, compared to its net profit of Dhs231m during the same period in 2021. The group’s revenue increased by 8.5 per cent to Dhs3.546m compared to its revenue of Dhs 3.269m in the first half of 2021. The total assets of the group are now at Dhs13.32bn, a growth of 3 per cent over the total assets in 2021 at Dhs12.92bn. The group’s business continued to grow and expand during the first half of 2022, with significant progress made in major strategic projects such as the Hail and Ghasha field works with the Abu Dhabi National Oil Company, long-term agreements with Saudi Aramco, and the Etihad Rail project. NMDC’s ambitious expansion plans have also increased the percentage of revenues generated from projects outside the country to 42 percent of total revenues in the first half of 2022. Mohamed Thani Murshed Ghannam Alrumaithi, NMDC’s chairman, said: “We were able to maintain our outstanding results and growth rates in profits and revenues, which indicates the success of our strategic expansion, whether in terms of new business areas or geographical footprint, as well as efficient performance in implementing strategic projects in the UAE, Saudi Arabia, and Egypt, as part of our rapidly expanding diversified portfolio.” Engineer Yasser Zaghloul, group CEO, added: “We are eager to achieve strong and positive levels of growth and complete projects with the utmost efficiency and perfection, in order to solidify the group’s leading position in engineering, procurement and construction, and marine dredging. “We are excited to continue our expansion strategy and enter new areas and markets, and that is why we are investing in enhancing the capabilities of our advanced marine fleet. The establishment of Safeen company is also a great example of our ongoing pursuit of partnerships that achieve business diversification and support our growth plans.” Read More
The European Investment Bank (EIB) is providing a EUR 120 million loan to Repsol to support the construction and operation of the first advanced biofuels production plant at the company’s facilities in Cartagena, (Region of Murcia). The plant will produce second generation and advanced biofuels from different types of waste primarily from the agri-food industry, such as used cooking oils, as part of the transition process towards a more circular economy. Construction work began in March this year and is scheduled for completion in the second half of 2023.
While second-generation biofuels are derived from a broad range of biogenic residues including used cooking oils, certain animal fats and vegetable oils that cannot be used as food or are derived from crops that do not compete with food, advanced biofuels are produced specifically from a subset of biogenic feedstocks listed in Part A of Annex IX of the REDII directive.
These biofuels are a sustainable solution for all segments of mobility, especially for those that have no other alternative to decarbonize their activity, such as maritime, long-distance or aviation transport. They can reduce net CO2 emissions by between 70% and 90% compared with the traditional fuels they replace. The EIB financing will also support research programs for advanced biofuels technologies conducted at Repsol’s Technology Lab in Madrid.
The production plant will be located within the premises of Repsol’s industrial complex in Cartagena, Region of Murcia – an EU cohesion region. The plant will process 300,000 tons per annum (tpa) of lipidic residues for the production of up to 250,000 tpa of 2nd generation or/and advanced biofuels for the transport sector. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $79.11 | Up |
| Crude Oil (Brent) | USD/bbl | $82.98 | Up |
| Bonny Light | USD/bbl | $80.34 | Up |
| Saharan Blend | USD/bbl | $80.50 | Up |
| Natural Gas | USD/MMBtu | $5.42 | Down |
| OPEC basket 21/12/22 | USD/bbl | $79.36 | Up |
Repsol has signed the acquisition of Asterion Energies from European infrastructure fund Asterion Industrial for €560 million plus up to €20 million in contingent payments. The transaction is an important milestone in Repsol’s ambition to become a global player in renewable energy and strengthens the company’s position in key markets in Europe.
Asterion Energies manages a portfolio of renewable projects mostly under development totaling 7,700 megawatts (MW) in Spain (84%), Italy (12%), and France (4%), all of which are stable markets with high development potential.
Asterion Energies’ asset portfolio includes 4,900 MW of PV solar and 2,800 MW of wind generation, of which 2,500 MW are at an advanced stage of development or under construction. In addition, Asterion Energies has an expert team with experience in the development of renewable and power storage assets that will be incorporated into Repsol’s ambitious growth project in this business. Read More
Shell Catalysts & Technologies offers two leading carbon capture technologies: The CANSOLV CO2 Capture System and ADIP ULTRA. The test at TCM will involve a proprietary amine-based solvent that is part of the CANSOLV CO2 technology. It is expected that this will be then qualified for delivery to carbon capture and storage (CCS) projects around the world.
Shell Catalysts & Technologies has previously carried out two test campaigns at TCM, in 2014–15 and 2016. One of its technologies has been chosen for Hafslund Oslo Celsio’s full-scale capture plant at Klemetsrud, Oslo, Norway. This project is part of the large Norwegian full-chain CCS project named Longship and, following the planned start-up in 2026, 400,000 tons of CO2 emitted by Celsio each year will be captured and permanently stored in the Norwegian shelf.
Nick Flinn, VP Decarbonisation Technologies, Shell Catalysts & Technologies, says, “We are very pleased to continue using TCM’s excellent facilities and expertise. The purpose of the next campaign is to make a final test and verification of this upgraded solvent that will be introduced to the market.” Read More
Egypt and Greece are calling on Turkey and Libya to scrap an energy exploration agreement that critics say violates exclusive economic zones off the Mediterranean coast.
On October 3, Libya and Turkey signed yet another memorandum of understanding (MoU) regarding future bilateral scientific, technical, legal, administrative and trade cooperation on land and sea in the realm of hydrocarbons. Reinforcing this, a group of high-level Turkish officials – including Foreign Minister Mevlut Cavusoglu – passed through Tripoli.
What the MoU means in Libya
The agreement continues the process that began in November 2019, when Tripoli was under siege with Fayez al-Serraj as prime minister. Today, the Government of National Accord (GNA) no longer exists, and in its place, in March 2021, the Government of National Unity (GNU), chaired by Abdul Hamid Dbeibeh, took office. Then, with the old MoU, signed under the authority of the GNA, maritime borders between Libya and Turkey in the Mediterranean Sea were defined bilaterally, parallel with security and military cooperation agreements. With the latest signing of the MoU, now by the GNU, those agreements have entered the implementation phase in which Turkey will play a leading role with its fleet of four drilling vessels to search for hydrocarbon deposits.
The new MoU was styled as a “win-win” deal for both administrations by Foreign Minister Cavosoglu. However, other nations were not of the same view, calling the Mediterranean waters exploration agreement illegal and a “threat to regional stability,” according to Egyptian Foreign Minister Sameh Shoukry, backed by his Greek colleague Nikos Dendias.
The European response was not long in coming, via a statement from the European Parliament that the Turkey-Libya maritime deal “must be scrapped as it foresees illegal drilling activities in the exclusive economic zones of other countries, including those of Cyprus and Greece. The text was adopted by 47 votes in favor, nine against with five abstentions. Read More
The Chair of the Shareholders’ Nomination Board of Neste Corporation changes. Director General Kimmo Viertola of the Ownership Steering Department in the Prime Minister’s Office of Finland has been the Chair until 22 December 2022 and as of 23 December 2022, the Chair will be Senior Ministerial Adviser, Financial Affairs Maija Strandberg of the Ownership Steering Department in the Prime Minister’s Office of Finland. In line with the stock exchange release published on 6 September 2022, the other members of the Shareholders’ Nomination Board are: Timo Sallinen, Senior Vice President, Investments of Varma Mutual Pension Insurance Company; President and CEO Jouko Pölönen of Ilmarinen Mutual Pension Insurance Company and Matti Kähkönen, the Chair of Neste’s Board of Directors.
The members of the Nomination Board are elected annually and their term of office ends when new members have been elected to replace them. The largest shareholders entitled to elect members to the Nomination Board are determined annually on the basis of the registered holdings as of the first weekday in September in accordance with the detailed rules included in the Charter for the Nomination Board.
The Shareholders’ Nomination Board will forward its proposals for the 2023 Annual General Meeting of Shareholders to the Board of Directors by 31 January 2023. Read More
RWE, one of the UK’s leading electricity generators, and operators of one of the most efficient fleet of gas plants in the UK, has entered into a development partnership with Harbour Energy the UK’s largest independent oil and gas producer. The partnership will enable RWE to investigate options to capture, transport and store CO2 from RWE’s gas fired power stations via Viking CCS (formerly V Net Zero), Harbour Energy’s CO2 transport and storage network.
RWE is looking at carbon capture as a viable solution to deliver decarbonised, reliable and dispatchable power stations that are in the vicinity of the proposed CO2 networks or have access to shipping facilities like Viking CCS
The projects in development are the retrofit of state of the art carbon capture technology at the 1.7GW Staythorpe CCGT, near Newark and a new build H Class CCGT at an RWE owned site on the Humber. The partnership could lead to the transportation and storage of captured CO2 from these sites. The captured CO2 would be transported to the site of the former Theddlethorpe Gas Terminal. It would then be transported 140 kilometres to Harbour Energy’s depleted Viking gas fields in the North Sea, 9,000 feet beneath the seabed, for secure permanent storage. Read More
RWE has signed up Port of Blyth as Offshore Construction Base for its 1.4 gigawatts (GW) Sofia Offshore Wind Farm, one of the world’s largest offshore wind projects.
Commissioned in December 2000, Blyth was home to the UK’s first offshore wind turbine pilot project, operated at the time by E.ON Climate and Renewables, whose activities have since become part of RWE. Turning full circle, Blyth will now be central to managing the offshore construction activities of RWE’s most modern and cutting-edge offshore wind farm, Sofia, located 195km off the UK coast on Dogger Bank, and which is progressing well with onshore works.
The new-build Offshore Construction Base (OCB) will be located at Port of Blyth’s recently redeveloped Bates Clean Energy Terminal, and will become the management centre for the RWE project’s vessels and logistics throughout the offshore construction phase in 2024. It will be managed and maintained by Port of Blyth in support of the project throughout the three-and-a-half years’ construction period. Read More
RWE and Forschungszentrum Jülich want to demonstrate how that can work in the Rhenish lignite mining district. The plan is to generate solar power in tandem with agricultural and horticultural activities on about seven hectares of recultivated land at the edge of Garzweiler Mine in Titz-Jackerath in the district of Düren in North Rhine-Westphalia. The research project is funded by the state of North Rhine-Westphalia through the progres.nrw programme.
Agrivoltaics offers major potential for the energy transition in Germany
For Germany to be able to achieve its climate targets, land must be made available for the expansion of solar power and innovative plans must be developed. In addition to Floating-PV plants on lakes, agrivoltaics (“Agri-PV”) offers major potential for expansion. Fraunhofer ISE assumes a technical potential of up to 2,900 gigawatts (GWp) in Germany. Agri-PV is the simultaneous use of land for electricity generation and food production or animal husbandry with potential synergies between these different uses. That applies in particular when solar modules protect crops from excessive sunlight or hail, possibly even allowing for crop yields to be increased. At some plants it is also possible to collect rainwater from the PV modules and use it for irrigation. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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