Author: omc_admin

(Oil Price) – Back in 2017, oil production in the Permian stood at 2.2 million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. total. Predictions of a looming peak have lately multiplied, but according to Wood Mackenzie, the Permian is not done yet—not if prices improve. To be sure, the boom days seem to be over. Production growth in the most prolific shale play in the United States has been slowing already as production costs climb higher while oil prices slide lower. Most forecasts for the region agree that growth in…

Leading energy companies from Malaysia, Singapore and Vietnam have penned an agreement to evaluate the potential export of renewable energy from Vietnam to its two neighbors via a new subsea cable. Under the deal, an unincorporated consortium between Malaysia’s Petroliam Nasional Bhd. and Tenaga Nasional Bhd., called MY Energy Consortium, will collaborate with a consortium comprising PetroVietnam Technical Services Corp. and Singapore’s Sembcorp. Utilities Pte. Ltd., a joint statement said. “Together, the consortia will focus on unlocking Vietnam’s rich renewable energy resources -particularly offshore wind power – as a source for green electron generation and to supply clean electricity across borders”, the statement…

Valeura Energy has completed an eight-well drilling campaign at License B5/27 (100% operated working interest), offshore Gulf of Thailand, the company announced Tuesday.   “Block B5/27 is a prime example of how with ongoing drilling activity we can continue to commercialise new accumulations to maintain a stable and predictable stream of cash flow from each of our Gulf of Thailand assets,” said Sean Guest, President and CEO of Valeura Energy. “At the same time, we have appraised several additional reservoir intervals which will form the basis of a future drilling campaign on the block.  We expect to demonstrate further…

The Vancouver Fraser Port Authority is planning to dredge an inlet in order to be able to accept fuller oil tankers, sparking concern among local environmentalists.Right now, CBC reported, the Vancouver port can service Aframax vessels that are 80% full due to depth constraints. With the additional dredging, it would be able to accept 100% full Aframaxes, the report said.According to environmentalists, making it possible for fuller tankers to dock at the port is a risky because of the potential for an oil spill. One ocean researcher told CBC that fuller tankers risk hitting the sea bottom—despite the additional dredging,…

French renewable energy producer Solveo Energies announced that it has raised €98 million (USD$111 million) in a new financing round, with proceeds from the financing aimed at accelerating the development of wind and solar projects that will help contribute to France’s carbon neutrality goals. Founded in 2008, Solveo works with local resources and partners to develop, finance, build and operate renewable energy projects. The company currently has 290 MW of assets in operation and under construction, and 2 GW in development, with 320 power plants in operation. Solveo said that the new capital will help it reach an installed capacity…

On a blustery spring day, Thomas Gent is walking through a field of winter wheat on his family’s farm, which straddles the Cambridgeshire and Lincolnshire border. Some of the green shoots reach his knees, while the ground between the plants is covered with clover.Sinking a spade into the soil, Gent grins as he points to the freshly dug clod of earth on the blade. “Look at the root structure,” he says. “It rained 20mm last night. The water has drained down because the soil structure is in the right format.”Unlike the vast majority of farmed fields in the UK, this…

Kongsberg Maritime’s new TTH series reduces downtime and eliminates the need for dry-docking Kongsberg Maritime announces the launch of its new Tunnel Thruster type TTH – the Harmonized series – setting new standards in performance and reliability with a compact, modular design that allows for flexible installation and optimal integration into a wide range of vessel types. “This enhanced and harmonized thruster range was developed based on our experience and expertise of over 60 years,” said Anton Westerlund, VP Product Management, Thruster Systems. “The range offers performance and easy installation, something that is demanded by several vessel segments, and…

ANDY PUBLES, Caterpillar Inc.  Fig. 1. Once drilling has been completed at sites like this one in the Permian basin, multi-well pad completions are now routine, delivering tremendous output but also consuming vast energy. Hydraulic fracturing has revolutionized oil and gas production over the past decade. By unlocking previously uneconomical shale reserves, the United States became a net exporter of natural gas in 2020.i Now, multi-well pad completions are routine, delivering tremendous output but also consuming vast energy—which contributes to higher operating costs, Fig. 1.    Economic pressures, coupled with climate-related goals, are driving continuous evolution in frac pad…

Iberdrola España and Schneider Electric have inaugurated a microgrid developed by Iberdrola España at Schneider’s plant in Barcelona. The plant operated by the French company in Molins de Rei has now become a zero-CO2 factory, Iberdrola said in a media release. Since 2019, Schneider Electric’s facility has enhanced its energy efficiency by 24 percent, with an additional 11 percent improvement expected from a new electric boiler. Additionally, since 2017, the facility has cut down on 2,250 tonnes of CO2 each year, reaching Zero Emissions in Scope 1 and 2, Iberdrola noted. The recently installed microgrid at the plant will further…

The joint venture between Nesma & Partners and Kent plc, NesmaKent Energy Company, has signed a deal with Aramco to start the first phase of the National Engineering, Procurement, and Construction (EPC) Champion Initiative. This marks the joint venture’s first project management consultancy (PMC) contract, Kent said in a media release. The inaugural project will focus on enhancing water handling facilities in the South Ghawar Area, helping Aramco sustain crude oil production and meet its maximum sustainable capacity targets. NesmaKent’s role will be to optimize the process and ensure minimal operational disruptions. Kent noted that Aramco’s National EPC Champion Program was…