Natural Gas Daily: May 13th, 2020
Nigeria LNG Inks Train 7 EPC Contracts
Nigeria LNG has awarded a group of engineering companies the contracts for engineering, procurement and construction for its seventh train: Italy's Saipem, Japan's Chiyoda and Korean Daewoo have picked up the contracts, as a joint venture, of which Saipem owns 60%.
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The Big Picture:
- Nigeria LNG is owned by state Nigerian National Petroleum Corporation, Anglo-Dutch Shell, French Total and Italian Eni.
Neptune Claims World Drilling First
UK independent Neptune Energy claimed a world first for an offshore well operation, when it drilled two wells at the same time at the Fenja field in the Norwegian North Sea. It used Subsea's West Phoenix drilling rig, designed for that purpose, but it said many other rigs were able to do this: it just had not been tried before.
The Big Picture:
- "The current challenges in the market encourage us to re-think the way we do things safely, efficiently and with lower carbon emissions," it said.
UK, Norwegian Operators Defer Almost All 2020 FIDs
The outlook for the Norwegian and UK offshore zones looks bleak, with almost all final investment decisions (FIDs) scheduled for this year having been deferred as a result of the market collapse.
The Big Picture:
- Prior to the Covid-19 pandemic, Oslo-based Rystad Energy tells NGW it expected 14 projects to be approved on the UK shelf this year. Decisions on all but one of these projects have been delayed.
Norway Takes $41bn from Oil Fund to Boost Economy
The Norwegian government plans to withdraw nearly $41.4bn from its national oil fund to help pay for a revised budget plan this year, it said on May 12, describing the economic hit from the Covid-19 crisis as the country's "most severe setback ever in peacetime."
The Big Picture:
- Oil and gas exports typically account for around 20% of Norway's budget revenues, but their contribution is forecast to more than halve this year, due to the collapse in oil prices and the cuts Norway has imposed cuts to production.
Somalia to Launch Offshore Round
Somalia is preparing to launch its first offshore licensing round, offering up rights to seven blocks, its ministry of petroleum and natural resources said on May 12.
The Big Picture:
- The hope is that the country's offshore, with its wide variety of geological plays, will propel the country to the premier league of east African resource holders, such as Mozambique or Tanzania.
- Somalia in March agreed on an initial roadmap with a joint venture between ExxonMobil and Shell on offshore exploration and development.
Uniper, Wartsila Switch German Plant to Gas
German utility Uniper and Finnish technology firm Wartsila are to build a gas-drive power plant for Bremen, using nine gas-drives, which will significantly contribute toward converting SWB's energy generation from hard coal to natural gas.
The Big Picture:
- The conversion from coal to gas will allow SWB to cut CO2 emissions by up to three quarters.
