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The state-firm of Venezuela has signed a deal with US’ Erepla in order to support its country’s declining crude oil output. Erepla is partly owned by Florida Republican and was registered in November last year. The US firm will invest up to $500 million for three Venezuelan oil fields in return of which it will be provided with a portion of crude produced.
Paz Oil, Israel's largest refined oil products distributor, has announced that it has extended its contract for two years with the Palestinian Authority. This contract extension is regarding the sales of petroleum products in the West Bank and Gaza Strip. Paz Oil will also provide maintenance and equipment under the agreement which will last till the end of year 2020.
National Petroleum Construction Co. (NPCC) of Abu Dhabi informed that the company has won a construction contract from Kuwait Oil Company. The contract is of $231 million. Under the scope of this contract, NPCC will have to build facilities in order to reduce crude salinity. These facilities will be built at the four oil gathering stations that are operated by Kuwait Oil.
EPC giant, TechnipFMC has concluded the construction of a new ammonia production unit, “Ammonia 4”, executed for Duslo, as part of the Agrofert group. The 1,600 tpd Ammonia 4 unit, which has an estimated operating life of 40 years, utilises Haldor Topsoe’s latest-generation technology. The plant successfully met performance criteria in July. The new unit is operating in the existing fertilizer complex located in Sal’a, in Slovak Republic.
French supermajor, Total and Chinese state-owned CNOOC have modified the sale and purchase agreement for LNG supply, inked in 2008. While the contract volume has been increased from 1 Mtpa to 1.5 Mtpa of LNG, the term of the contract has been extended from 15 years to 20 years. The move will further strengthen the cooperation between the firms in the liquefied natural gas business.
Equinor has awarded a 5-month contract to Maersk Drilling AS and the Maersk Intrepid rig. These companies will provide operational support on the Martin Linge field. Maersk Intrepid rig has a deal until April 2019 which has now been extended to two one-month contracts. Four new two-month extension options will also be provided to the Interpid. The deal is estimated more than £30 million.
Europe’s Prosafe has been awarded a £14.3million contract by BP. Prosafe will grant the charter of the Safe Zephyrus accommodation vessel at the Clair Ridge platform. The contract is of five-month and will start from May next year. The contract has an extension option of one month. CEO of Prosafe said “The Safe Zephyrus’ track record of gangway connected operations is second to none since her delivery in 2016,”
Securing contracts from Permian, Alaska through the Bakken and then Louisiana’s onshore energy contract, Wood has won a string of new contracts in US midstream this year. These contracts are worth about £190m, and will create about 1,000 new jobs. CEO of Wood’s Asset Solutions Americas commented “These contracts show the strength and expertise of Wood to deliver a diversified portfolio of energy,”
Mozambique’s government informed that it has signed an oil exploration agreement with ExxonMobil and Rosneft. The energy regulator of Mozambique, National Petroleum Institute said that the government is planning to get into similar agreements with Sasol of South Africa and Itlay’s Eni. These energy firms will drill a minimum of 10 wells which is expected to lead to an investment of as much as $700 million.
Bayport Polymers has awarded a contract to McDermott International, Inc. for the development of its new High-Density Polyethylene (HDPE), the Borstar Bay3 Project in Texas. Bayport is a JV of Total Petrochemicals & Refining USA and Novealis Holdings LLC. McDermott’s scope of work includes engineering, procurement, fabrication and construction. The capacity of the plant is 625,000 tons/year. The plant will be ready in 2021.
The subsea production system for Petrobras’ Mero 1 project will be supplied by Norway’s Aker Solutions. The subsea production system, which will consist of 12 vertical subsea trees, will be manufactured at the São José dos Pinhais and Rio das Ostras facility. The Norwegian energy service company is already working on the project, with deliveries scheduled for 2020. The subsea production system will be hooked up to Guanabara FPSO.
Aker Solutions has informed that the company has entered into a five-year agreement with BP in Angola, effective from Q3 of present fiscal year. The contract will see Aker Solutions supply brownfield modifications, maintenance and operations support for BP’s Greater Plutonio and PSVM fields offshore Angola. Aker will also provide engineering, procurement, and construction services on the floating production, FPSO vessels at each field for brownfield projects.
Offshore innovative solutions developer, Trendsetter Vulcan Offshore (TVO) has signed an agreement with Norway’s SubseaDesign AS. Under this agreement, TVO will give all the rights of marketing and commercialization of its patent Tethered BOP design to SubseaDesign. The BOP, which mitigates the challenges of wellhead fatigue and wellhead strength will be then used in Norwegian sector of the North Sea.
Cenovus Energy, has signed a three year deal to transport heavy crude by rail to the US Gulf Coast. The agreement is to transport over 100,000 bpd of crude. The Canadian National Railway Co. will start transportation from the fourth quarter and Canadian Pacific Railway will take over the shipping part from the second quarter of next year. Recently, the pipeline holdup has negatively affected the oil prices in Canada.
India is looking forward to close an oilfield deal with Russia during October 5 annual submit, to be held between President Vladimir Putin and Prime Minister Narendra Modi. This would be India’s chance to form a strategic partnership with Russia through energy ties. If sources were to be believed, Indian hydrocarbon firms already have their investments in Vankorneft oil field of Russia and can further invest in Vankor cluster.
Cyprus-based Prosafe SE secured a $12 million contract for the semi-submersible accommodation vessel, Safe Caledonia. Prosafe signed the contract with a major oil and gas operator. The vessel will provide accommodation support in the UK sector of the North Sea. The four month duration contract commences in April 2019, with up to two months of options.
Norwegian oil services company, Aker Solutions has bagged a contract from Petrobras for the oil and gas fields in the Campos basin. Under the scope of this deal, offshore production units for Campos’ basin Operational Unit (UO-BC) will be renovated, repaired and upgraded by Aker Solutions. CEO of Aker commented on this agreement and said that the company is pleased to expand its business in Brazil.
Houston based Cheniere Energy has entered into a 15-year agreement with one of the world’s largest oil trader, Vitol Inc. Under the scope of this agreement, Cheniere will supply 700,000 tonnes of LNG to Vitol every year starting from 2018. Cheniere's Sabine Pass terminal in Louisiana increased its output and helped the United States come out as the major LNG exporter in the last two years.