Oil & GasSpecial Focus Update
Norway approves USD 18bn of oil and natural gas projects
Petrofac secures ADNOC project
Norway ’ s energy ministry approved oil and gas projects with a total value of more than Kroner 200bn ( USD 18.5bn ) as Europe ’ s biggest supplier of natural gas works to keep up production . The projects , which include Aker BP ASA ’ s Yggdrasil and Valhall PWP og Fenris in the North Sea , as well as Equinor ASA ’ s Irpa in the Norwegian Sea , cover 19 new developments , buildouts of existing fields and increased oil-recovery projects . The Nordic nation has become the biggest supplier of natural gas to Europe in the aftermath of Moscow ’ s invasion of Ukraine , and will likely continue to see strong demand as buyers turn their back on Russian energy . A flurry of development plans was submitted at the end of last year to benefit from pandemic-era tax breaks introduced to maintain investments as demand sank . As many as 55 wells are planned at Yggdrasil . That area is estimated to contain about 650 MMboe , making it one of the biggest development projects on the Norwegian continental shelf in recent years .
Petrofac has been selected by ADNOC Gas Processing , to undertake a significant new Engineering , Procurement and Construction project at its Habshan Complex . The contract is valued at approximately USD 700M and involves the Engineering , Procurement and Construction of a new gas compressor plant . Comprising three gas compressor trains , associated utilities and power systems , the new plant will support ADNOC to substantially increase gas output from the Habshan Complex , West of Abu Dhabi .
Tubacex lease agreement with KEZAD Group
TechnipFMC secures iEPCI™ contract
TechnipFMC has been awarded a significant integrated Engineering , Procurement , Construction , and Installation ( iEPCI™ ) contract by OMV ( Norge ) AS for its Berling gas development project . TechnipFMC will design and install the subsea production systems , controls , pipelines , and umbilicals for the development on the Norwegian Continental Shelf .
Tubacex has signed a land lease agreement with Khalifa Economic Zones Abu Dhabi – KEZAD Group , for the construction of a new pipe finishing and threading plant in the Emirate . This state-of-the-art plant will be erected in a 50,000 m2 plot , and follows the roadmap agreed between Tubacex and the Abu Dhabi National Oil Company ( ADNOC ) for the supply of comprehensive OCTG-CRA ( Oil Country Tubular Goods in Corrosion Resistant Alloys ) solutions used in natural gas extraction . This USD 100M project comes to fruition as the In-Country Value program launched by the Ministry of Industry and Advanced Technology ( MoIAT ) gains traction . The facility will be the first of its kind in the Middle East , with the expected start of operations towards the end of 2024 .
6 Stainless Steel World September 2023 www . stainless-steel-world . net