Contracts NEWS

Iberdrola and Vestas have signed a contract to supply 50 units of the offshore wind turbine V174-9.5 MW for the Baltic Eagle project being developed off the island of Rügen, in German waters of the Baltic Sea. Both parties have also signed a contract for Service and Maintenance of the new turbines. With 476.25 MW installed capacity and spanning a 40 km2 area.

Seadrill Limited announced a new contract has been secured by Sonadrill Holding Ltd, the 50/50 joint venture with an affiliate of Sonangol E.P. Sonadrill has secured a twelve well contract with one option for nine wells and eleven one well options in Angola for the Sonangol Quenguela drillship. The total contract value for the firm portion of the contract is expected to be approximately $131 million with commencement expected in Q1 2022 and running to Q3 2023.

French renewable power producer Qair on Monday announced the commissioning of a ground-based photovoltaic (PV) plant in Morocco that will be supplying Swiss food and drinks giant Nestle SA (VTX:NESN). Located at the site of Nestle Morocco’s factory in El Jadida, the solar park is equipped with 2,600 PV panels that cover a total area of over 7,000 sq m (75,300 sq ft).

Fugro has secured a fourth consecutive contract from Oil & Natural Gas Corporation (ONGC) to provide integrated survey services. Under the contract, Fugro will provide infield developments on the east and west coasts of India. The contract also includes rig positioning, current profile measurements and wellhead searches. Fugro will carry out the services using multibeam bathymetric, shallow seismic profiling, magnetometry and 2D ultra-high resolution.

Acoustic Data has been contracted to deploy its SonicGauge Wireless Monitoring System in a gas field project in North-Africa. The technology will deliver real-time surface readout of downhole pressure and temperature on post-frac well tests via acoustic telemetry at the project which will enable live analysis. This will allow the subsurface teams to make fast and informed decisions regarding the field development, reducing standby time and the associated operating expenditure.

Oil and gas producer, Chesapeake Energy Corp has been slapped with a $48.8 million lawsuit by Pipeline operator Glass Mountain LLC for allegedly defaulting on an oil transportation contract. Shale gas pioneer, Chesapeake had earlier borrowed aggressively to buy and drill properties and started making losses as gas prices toppled. A Chesapeake spokesman didn't respond to requests for comment.

Poland's, PGNiG has decided not to renew the major contract with Russia's Gazprom after it ends in 2022. The company has already notified Gazprom about its "intent to terminate" the contract. This Yamal contract was started in 1996. Currently, two-third of the gas consumed in the nation is delivered by Russia under Yamal. Poland has been long wanting to seize its dependency on Russian gas.

Vitol signed a contract with H-Line and agreed on the execution of a 10-year time charter agreement with a latest LNG carrier. It is a 174 000 m3 vessel which has XDF propulsion and is due for delivery in late 2021. Vitol's LNG head said, "This allows us to optimise our LNG portfolio that includes increasing FOB volumes from different areas that we are actively marketing to our global clients”.

Operational Excellence (Opex) Group has backed a multimillion pound contract with Cnooc. It is a three-year deal for Cnooc International's North Sea assets. Opex will roll out its predictive analysis technology at the Buzzard, Golden Eagle and Scott platforms. Also, ts X-pas service will use data science to monitor all the installations. "We are pleased to have extended our scope across the company’s UKCS assets", said Chief Executive of Opex.

PetroLogistics ll has awarded Gulf coast PDH project FEED contract to Mcdermott International. McDermott will perform the front-end engineering design services for a propane dehydrogenation (PDH) facility at the US Gulf Coast. The design basis of the plant is 500 KTA. "We will pull from our vast expertise in engineering to complete the FEED", said McDermott's Senior VP.

Subsea inspection, maintenance and repair (IMR) firm N-Sea has won three contracts in the Middle East. The combined worth of these contracts is about £12 million. The company has also been chosen for a saturation diving campaign for spool, clamp and riser installations. Headquartered in the Netherlands, apart from offering services to oil and gas, the company also serves the renewable sector.

McDermott has received technology contract from oil guzzler, Indian Oil Corporation Limited (IOCL). The contract pertains to the development of a grass-root Fluid Catalytic Cracking (FCC) unit. It will include technology license, basic engineering, proprietary equipment, training and technical services. The FCC unit will use INDMAX Technology, licensed by McDermott's Lummus Technology and developed in partnership with IOCL.

Schlumberger has been awarded a 20-year subsea equipment and services master contract by Chevron. This contract is for subsea development projects in the Gulf of Mexico. Innovative technologies will also be included in the OneSubsea custom catalog of equipment. “We look forward to continuing our technology collaboration with Chevron to optimize project efficiency and reduce cycle times in its future Gulf of Mexico subsea projects", said OneSubsea's President.

Canada has signed its first binding supply agreement with China. A small-scale Canadian liquefied natural gas (LNG) plant, FortisBC has joined hands with Top Speed Energy Corp and will supply 53,000 tonnes from its Tilbury facility for two years. Though this deal is small, the nation expects much larger deals with operators of bigger new terminals.

The Norwegian engineering firm, Aker Solutions is bidding for contracts worth approximately £5 billion. And two-third of these contracts are for subsea jobs. In the first-half of the current fiscal year, the company won 74 front-end orders, one more than in the same period last year. Also, its revenue rose to 25% in the first half the year.

C-Innovation has received a contract to perform riserless light well intervention (RLWI) activities for BP in the Gulf of Mexico. The initial contract includes both mechanical and hydraulic acid stimulations which will be performed by C-I’s flagship Gulf of Mexico assets. Subsea Manager of C-I said, "We look forward to continuing to grow our relationship with BP by offering unique and cost-effective turnkey solutions”.

Petrofac has been awarded a £60 million procurement services contract by Petroleum Development Oman. This contract is a part of a framework agreement signed by Petrofac in 2017. Regional Manager of the company said, "The procurement and management activities for this project will be undertaken from Petrofac’s Muscat office from where we provide first-class expertise in high-value order management".

A new, five-year contract with BP has been announced by the Bristow Group to support its North Sea operations. “We recognise BP has placed its trust and confidence in Bristow and we are committed to maintaining the highest safety standards every day and at all times”, says the director of UK and Turkmenistan oil and gas. This contract adds further credibility to Bristow’s success in the region.