OGV Energy - Issue 55 - April 2022 - New Energy by OGV Energy

APRAUGUST 2022 - ISSUE 2020 55

UK’s No. ENERGY SECTOR

PUBLICATION

THE NEW ENERGY ISSUE

GLOBAL ENERGY NEWS

FEATURING

WORLD PROJECTS MAP

ETZ - ANYbotics - TWEFDA QHSE Aberdeen - Stena Drilling VROC - Re-Gen Robotics Sword Group

OIL-PRICE P.14

The Russian invasion of Ukraine causes energy markets to hit skyrocketing prices, supply deficit and generalised uncertainty

RENEWABLES P.32

The UK's targets of 40GW by 2030 and up to 125GW by 2050 are a cornerstone of the country’s journey to a net-zero carbon economy

MONTHLY THEME RENEWABLES INNOVATION & TECH CONTRACT AWARDS DECOMMISSIONING ON THE MOVE STATS & ANALYTICS LEGAL & FINANCE EVENTS

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Read on page 4

OGV Energy Media Group, in partnership with Energy Transition Zone, are delighted to invite you to the 'Data-Driven Energy Transition' event on Thursday April 28th at TECA. We will be exploring how a coherent data-driven strategy, coupled with the implementation of new technologies are catalysing the gateway to a more sustainable energy future. Delegates will be able to hear the latest thinking from industry bodies, academic institutions, energy operators and technology companies on how the energy sector is preparing itself for transformation to a zero-carbon industry by 2050. Participation from organisations such as Energy Transition Zone, the Net-Zero Technology Centre, the Global Underwater Hub, the North Sea Transition Authority, ORE Catapult, Robert Gordon University and more will ensure thought-provoking discussion and debate.

SPONSORSHIP AND EXHIBITION OPPORTUNITIES AVAILABLE, CONTACT: daniel.hyland@ogvenergy.co.uk

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CONTENTS

COVER PARTNER

04 - ETZ - Repositioning the North East of Scotland as the Net-zero Energy Capital of Europe

COMMUNITY NEWS 08 - Latest updates from our OGV Community members

GLOBAL ENERGY NEWS 11 - UK North Sea 14 - Europe 16 - US 18 - Middle East

WORLD PROJECTS MAP

20 - EIC - World's latest project updates

MONTHLY THEME 22 - New Energy Is Gaining Momentum 24 - TWEFDA: Combined wave energy converter & green storage 25 - QHSE: Managing environmental and carbon footprint 26 - ANYbotics: ANYmal X —Transforming inspection in oil & gas and chemicals

INNOVATION & TECH ZONE 22

28 - Re-Gen Robotics: Disruptive innovation in the oil tank cleaning sector 29 - Stena Drilling: Developing ideas through an innovative culture

OUR DIGITAL INDUSTRY 30 - Sword Group: Simplifying how you use data today A modern data platform

TECHNOLOGY ANNUAL 31 - VROC: Automated AI data solutions

RENEWABLES

32 - SSE Renewables Floating wind – why delivery requires a balanced mix of ambition and pragmatism

EVERY MONTH 34 - Contract Awards 36 - On the Move 38 - Decommissioning 40 - Stats & Analytics 42 - People in Energy 44 - Legal & Finance 46 - Community Partner 47 - Events

KENNY DOOLEY MAIN EDITOR Welcome to the April edition of OGV Energy Magazine, where this month our theme is on ‘New Energy’. We are thrilled to be showcasing some of the supply chain’s products and services that are helping to reduce cost, optimise efficiency and facilitate more sustainable outcomes for the energy sector, in a global environment that clearly needs support in this area to stabilise its future. This month we are delighted to welcome the newly launched Energy Transition Zone Ltd (ETZ) as our front cover partner and you can read all about how they will helping the energy supply chain to catalyse their efforts towards the energy transition inside. We also have insights from Anybotics, QHSE Aberdeen, Sword Group, VROC and Stena Drilling.

WISH TO CONTRIBUTE TO NEXT MONTH'S PUBLICATION? Contact us to submit your interest: daniel.hyland@ogvenergy.co.uk

The rest of this month’s magazine as always provides you with a review of the Energy sector in the North Sea, Europe, the Middle East, the US and Australasia along with industry analysis and project updates from Westwood Global Energy Group, the EIC and Renewables UK. Lastly, in partnership with Energy Transition Zone Ltd, we are hosting ‘The Data-Driven Energy Transition’ event on Thursday April 28th at TECA in Aberdeen from 9am – 5pm, so please come down and join us for what promises to be a fantastic event!

VIEW THE OGV MAGAZINE ONLINE AT www.ogv.energy/magazine

COVER FEATURE

ETZ LTD CEO, MAGGIE MCGINLAY,

DISCUSSES REPOSITIONING THE NORTH EAST OF SCOTLAND AS THE NETZERO ENERGY CAPITAL OF EUROPE

All of us who live in North East of Scotland are acutely aware how reliant our economy has been on a worldclass oil and gas sector. For almost 50 years the region has made a massive contribution to the UK’s economic productivity and energy requirements and, in doing so, has sustained thousands of jobs in and across Aberdeen and Aberdeenshire. The industry is now maturing, and, in the context of an unprecedented climate emergency, there are widespread calls from government and industry for energy transition activities to be accelerated. It is sobering to reflect that the UK oil and gas industry lost around 35,000 direct and indirect jobs in the last 18 months, many of which were across the North-East, so the scale of challenge is stark. We want to harness the skills and experience of those 50 years and put it towards a world leading hub for renewables energies – offshore wind, green and blue hydrogen, carbon capture and storage– creating a long term and sustainable industry base that allows the North-East to re-position itself as the net-zero energy capital of Europe. This is exactly what ETZ Ltd, the not-for-profit organisation I’m privileged to lead, has been established to do. We operate on the basis of no commercial gain and with one over-riding goal; to protect and create as many jobs as possible ensuring a sustainable and vibrant future for the North East and the people who live and work here. The Energy Transition Zone is a vital project that will allow Aberdeen and the North East to achieve this ambition. The reality, however, is that we face stiff competition from ports around the UK and rest of Europe who are trying to emulate our plans but I’m very clear that we cannot and must not let Aberdeen lose out on this. If we were to, we should truly fear for the future of the city and region. We are progressing at pace to ensure this doesn’t happen and work is already underway to repurpose and refurbish key locations within the existing industrial sites in Aberdeen which will be at the heart of the thriving cluster within the Energy Transition Zone.

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Critical to the Zone’s success will be our ability to attract specialist high-value manufacturing to support the massive opportunity the ScotWind leasing round provides. The Crown Estate decision to approve developments that will generate 24.8GW of offshore wind power, a significant increase on the anticipated 11GW, is hugely encouraging and it’s great to see the Scottish Government’s recognition of the sheer scale of the opportunity before us. 18GW of power announced, representing over 70% of all successful bids, are within 100

nautical miles of Aberdeen and therefore this region is ideally placed to become a globally recognised hub supporting the high value manufacturing, operations and maintenance and innovation required to deliver these developments at pace. The Energy Transition Zone will also be home to a brand new National Floating Offshore Wind Innovation Centre allowing the North East to harness its first mover credentials and maximise the significant floating offshore wind opportunity. This is particularly important given the massive 14.6GW of floating offshore wind power announced.

COVER FEATURE Maggie McGinlay, CEO at Energy Transition Zone Ltd (left) Nicola Sturgeon, First Minister, Scotland (centre) Sir Ian Wood, Chairman of ETZ Ltd (right)

The scale of the offshore wind opportunity is a key reason why we are taking forward the development of the Energy Transition Zone (ETZ) adjacent to the brand new £400 million Aberdeen South Harbour, one of the largest marine projects in the UK. And there are other major opportunities for this region too. A joint venture between Aberdeen City Council and bp, will see bp operate a hub incorporating solar power, green hydrogen production and a refuelling facility for public transport as part of the City’s City aim to become a world-class hydrogen hub. In addition, the oil & gas geology off the North

East coast provides world-class sites for large scale carbon dioxide storage. To accelerate the development of this wide range of exciting opportunities, ETZ Ltd is facilitating the faster development of the Scottish energy supply chain cluster which will be drawing on the largest concentration of energy supply chain companies in the UK from our oil and gas history. This, along with 75% of the world’s subsea engineering capability, will undoubtedly make the North East one of the most attractive locations in Europe for investment in low carbon technologies.

The region has all the right ingredients for success. We have the knowledge and expertise, the financial capital, the offshore infrastructure, and we have a stellar record in delivering offshore solutions. Owing to our proud heritage as a global leader in oil and gas, we have all the tools at our disposal to become a global leader in new energies, significantly contributing to economic diversification across the region and meeting Net-Zero targets. By Maggie McGinlay Chief Executive Offficer ETZ Ltd

ETZ Ltd is a private sector led, not for profit company created to drive forward the vision of transforming the North East of Scotland to become a global leader in energy transition activities and a net exporter of energy transition technologies and skills. Learn more at etzltd.com

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OGV COMMUNITY NEWS OSSO has drawn on over two decades of fluid purification experience to bring a first-class construction offering to the market. The company's advanced water treatment solutions will ensure its customers’ operations are in line with current government environment regulations and run safely – avoiding reportable incidents and reputational damage.

OSSO spearheads construction market launch with new product line and UK facility

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There’s no substitute for experience when it comes to sourcing and placing the best people for energy projects As we emerge from the pandemic, with a rapidly rising oil price and a recognition that oil and gas are vital to security of domestic supply, delayed projects are coming back on stream and new ones are being sanctioned. Inevitably the recruitment market, which had begun to pick up last year, is now heating up dramatically, with fierce competition for skills, particularly in specialist, technical fields such as drilling, wells and completions. Sourcing and placing the right people with the necessary technical experience and expertise can make a real difference to a project. And the consequences of getting it wrong can be far-reaching, even more so in a tight labour market.

Ampelmann launches campaign in Ivory Coast Ampelmann, the Dutch offshore access provider, has signed a contract to support maintenance work on a floating production storage and offloading unit (FPSO) in Ivory Coast (Côte d’Ivoire). An A-type motion compensated gangway has been fitted to MMA Offshore’s DP2 vessel, the MMA Privilege, and has arrived at location. In the coming years, an A-type gangway will ensure smooth and continuous crew change operations from the MMA Privilege to the FPSO.

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OSSO, the specialist fluid temperature control and separation solutions provider, today announces its strategic expansion into the construction market with the opening of its new operating facility in Warwickshire and launch of new specialist products for the sector.

Rovco to invest in SMD’s new EV Work Class ROV system

Over the last year, OSSO has built a dedicated construction team with industry-specific expertise, enabling it to offer customers leading advice on the right products and approach for their projects, as well as full aftermarket service and maintenance care. OSSO will also be offering a CPD accredited training course on the management of water, launching in Q2 2022. The business has developed a suite of innovative, single lift modular solutions that can be combined to tackle the highest expected flow rates and water treatment challenges. The products are designed to be deployed on construction sites to tackle the common industry issue of waste water in an efficient, cost effective and environmentally sustainable way.

Industry Experts Lead New Training Service

World leading subsea equipment manufacturer Soil Machine Dynamics Ltd (SMD) and intelligent offshore services provider Rovco Ltd have signed a Letter of Intent (LOI) for next generation EV Work Class ROV (WROV) technology. SMD will provide Rovco with a new Atom EV high performance electric WROV, which will be the first of a fleet of vehicles designed to interface with Rovco’s latest computer vision and AI capabilities, offering a smarter way of working to drive efficiency and lower project costs. This solution enables Rovco to offer a step change in autonomous services to its clients, powered by its technology spin-off, Vaarst.

Add Energy, the international energy consultancy, has launched its industry first training academy, specialising in drilling and well engineering, operations and maintenance, as well as safety and risk management. This announcement strengthens its commitment to upskilling and training workforces across the globe.

Ashtead Technology completes first significant subsea monitoring project using LUMA™ modems

Debut for Rotech Subsea’s RS1-3 purpose-built cable trencher in the Baltic Sea sets new standard for controlled flow excavation

International subsea equipment rental and solutions specialist Ashtead Technology has successfully completed its first significant subsea monitoring project using Hydromea’s LUMA™ high-speed through-water wireless optical modems since signing their global rental partnership last year.

Led by experts from the energy firm, The Add Energy Academy has been designed to enhance knowledge and skills of workforces to enable businesses, which are operating across the energy sectors, to be safe, efficient, and effective.

Deploying its hotly anticipated new cable trenching tool - the RS1-3 - on its first commercial assignment, Aberdeen-based subsea suspended jet trenching and controlled flow excavation (CFE) specialist, Rotech Subsea, has completed a post-lay burial campaign for a series of multiple cable joints on a major offshore wind farm in the Baltic Sea.

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ENERGY NEWS

APRIL 2022

UK NORTH SEA

Energy Review By Tsvetana Paraskova

The oil and gas authority’s name change to reflect efforts in the energy transition, the state of the North Sea offshore industry in the wake of the Russian invasion of Ukraine, and a number of field development updates featured in the UK North Sea oil and gas news flow this past month.

The UK Oil and Gas Authority changed on 21 March its name to the North Sea Transition Authority (NSTA) to reflect its evolving role in the energy transition. The NSTA will continue to play a vital role in ensuring energy security as the body which stewards the oil and gas industry, both on and offshore, with energy transition issues already playing a significant and increasing role in the organisation’s day-to-day activities. “Investment in the North Sea is therefore vital, but the increasingly polarised debate shook industry confidence, putting billions of pounds worth of capital expenditure at risk,” said Dr Andy Samuel, Chief Executive of the North Sea Transition Authority. “The UKCS can still attract investors and is open for the right business. We are stewarding a good number of oil and gas developments in line with our net-zero test, ensuring cleaner production, while bolstering energy security and giving the UK options,” Samuel added. The UK’s underwater industry generates revenues of £7.8 billion, 43% of which are attributable to exports, and directly and indirectly employs 45,000 people. Emerging sectors such as offshore floating wind, CCUS, and hydrogen production offer future growth potential and opportunities to support the UK’s energy transition and net-zero ambitions, the Global Underwater Hub said in a white paper in March. A significant contributor to the UK economy, the industry directly supports £11 billion of gross value add (GVA) per annum. “With its market leading position, the UK’s underwater industry is arguably one of the country’s biggest opportunities for growth over the next 15 years, and one that can help accelerate our net-zero ambitions,” the paper reads. “The UK’s underwater supply chain SMEs, the backbone of innovation in addressing industry demand, are driving forward capabilities which are highly transferable into marine and offshore renewables and other sectors,” according to the paper. Flaring in the UK North Sea fell by 19% in 2021, building on a 22% decrease the previous year, new analysis by NSTA showed in early March. Production facilities cut their flaring by 6 billion cubic feet (bcf), to 26 bcf, a reduction equivalent to the annual gas demand of 130,000 UK homes.

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It means that offshore flaring volumes dipped to their lowest annual level on the authority’s records, while an all-time monthly low was set in June 2021. “As we transition, the UK needs a stable supply of domestic oil and gas to minimise reliance on imports and bolster energy security. To ensure that production is as clean as possible, the OGA is holding the sector to account, including on flaring and venting, through close monitoring and benchmarking and proactive stewardship,” NSTA’s Samuel said.

Continues >

"OSSO is a value focused provider of specialist fluid temperature control and separation solutions."

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ENERGY NEWS

Offshore Energies UK (OEUK) warned in its Business Outlook 2022 that production would fall by up to 15% annually unless there is rapid investment in new infrastructure. “This decline is much faster than the predicted reduction in UK energy demand so, if there is no such investment then, by 2030, we will be reliant on other countries for at least 80% of our gas and 70% of our oil. That gap will have to be filled by imports, meaning the UK will become ever more dependent on other countries,” OEUK said. The report revealed that for the first time, Norway has become the UK’s primary source of gas – supplying the UK with more gas than came from the UK Continental Shelf in 2021. The energy transition “will only happen if our policymakers can create and sustain the right environment for long-term investment across all forms of energy production. To achieve that we need stable long-term regulatory policies, clear and predictable fiscal policies and improved political alignment across all the countries and parties of the UK,” CEO Deirdre Michie said in the introduction to the outlook. In response to calls for the First Minister to support increased oil and gas production as the impact of the Russian aggression in Ukraine is expected to lead to rising gas prices, compounding the cost of living crisis, OEUK’s Michie commented: “If we are going to deliver a fair and managed transition that also ensures security of energy supply, we need both rapid investment in renewable energy plus investment to sustain the production of oil and gas.” UK North Sea production continues to decline, and without fresh investment, the country will only increase its reliance on oil and gas imports while it goes through the energy transition, she added. “The UK offshore industry is changing and is already investing in renewable fuel and technology to harness power from wind and hydrogen to help decarbonise energy in the medium to long term. But in the short term it remains the case, whether we like it or not, that 85% of UK homes are reliant on gas, while 32 million vehicles on the road continue to require petrol and diesel for transport needs,” Michie noted. OEUK also responded to calls for a windfall tax on the UK’s energy providers, warning that such a tax risks adding a UK supply crisis to a global price crisis. “The Europe-wide gas shortages are a stark reminder of why the UK should safeguard its own offshore sector – otherwise we risk heaping a supply crisis on top of an existing price crisis,” OEUK’s Michie said. Capital expenditures in the North Sea have slumped in recent years, falling by more than 90% since 2014. “If that lack of investment in platforms, pipelines and other infrastructure, were to continue, then production would decline in coming years – just when we most need our own oil and gas supplies,” Michie noted.

UK North Sea “It means a windfall tax would actually be the worst thing for consumers because it would discourage energy companies from making all those vital investments. That would reduce our energy security and make us even more dependent on imports from places like Russia and the Middle East,” she added. The UK’s offshore energy industry welcomed a speech by Prime Minister Boris Johnson warning that it would be “crazy” to shut down North Sea oil and gas production in the face of global shortages and price spikes. “So we welcome the prime minister’s comments and would ask his government to work with us on the practical steps needed to encourage energy companies to invest in new fields and wells on the UK’s continental shelf,” OEUK’s Michie said.

UK gas developer IOG plc is backing out of a gas sale agreement with Gazprom Marketing & Trading Limited (GM&T) with immediate effect. Last year, IOG signed a gas sale agreement with the Gazprom unit to sell its equity production from the Elgood and Southwark fields in the North Sea up to October 2023. A few days later, IOG said it had executed a new gas sales agreement with BP Gas Marketing Limited for its equity gas from all of the Saturn Banks Phase 1 fields (Blythe, Elgood, Southwark), plus the Nailsworth and Elland fields which are part of Phase 2, on a long-term basis with break clauses after September 2023.

Deirdre Michie, CEO, OEUK

Commenting on Chancellor Rishi Sunak’s Spring Statement and forecasts by the Office for Fiscal Responsibility, Michie said that “Our industry needs long term confidence in the UK, allowing us to make major investment decisions in both oil and gas production and the new low carbon technologies including Carbon Capture and Storage, hydrogen and offshore wind.”

In response to Vladimir Putin’s illegal invasion of Ukraine, the UK will phase out imports of Russian oil by the end of the year, the government said on 8 March. “This transition will give the market, businesses and supply chains more than enough time to replace Russian imports – which make up 8% of UK demand,” Business and Energy Secretary Kwasi Kwarteng said. A week before that, the UK banned Russian ships from UK ports, including any vessels owned or operated by anyone connected to Russia and authorities will also gain new powers to detain Russian vessels. In company news, Shell said it plans to invest £20 billion to £25 billion in the UK energy system over the next 10 years. More than 75% of the investment – which is subject to board approval and supporting policy – would go to low and zero-carbon products and services, including offshore wind, hydrogen, carbon capture utilisation and storage (CCUS), and electric mobility. “Shell cannot act alone. Investing this money requires urgency of action across government to deliver the enabling policy and business case frameworks. These must address both the supply and demand side of the energy transition (in areas such as hydrogen and CCS, for example),” Shell UK Country Chair David Bunch said.

Commenting on IOG’s final audited results for 2021, CEO Andrew Hockey said in mid-March:

“Last year saw an immense effort by the whole IOG team to progress towards production, culminating in the safe and successful delivery of First Gas from the Blythe and Elgood fields on 13 and 15 March 2022 respectively.” Neptune Energy announced on March 1 its aim to go beyond net-zero and store more carbon than is emitted from its operations and the use of its sold products by 2030. International energy logistics provider Peterson has signed a new contract with Shell to provide supply base services from the Port of Lowestoft. The new contract follows the expiry of a 7-year-old contract and strengthens the long-term partnership between Peterson and Shell in this region. Serica Energy said on 17 March that production had restarted from the Rhum field following the successful operation with a Diving Support Vessel to replace a faulty component in the Rhum Subsea Control Module which had necessitated a temporary shutdown of Rhum production. Harbour Energy plc expects its 2022 production at 195,000-210,000 boepd, which would be some 15% higher than in 2021, the company said in its 2021 results release. Harbour Energy’s production stood at 219,000 boepd to the end February. Waldorf Production has entered into a binding agreement with a wholly-owned subsidiary of MOL Hungarian Oil and Gas Plc for the acquisition of some of MOL’s UK subsidiaries comprising their entire UKCS business. The key UKCS assets being acquired include non-operated interests of 20% in the Greater Catcher Area, 50% in the Scolty and Crathes fields, as well as 21.83% in the Scott and 1.59% in the Telford licences.

Centrica, the owner of British Gas, is exiting gas supply deals with Gazprom and other Russian firms “as a matter of urgency.”

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BRENT OIL PRICES OVER THE YEARS April Review

YEAR AGO

- BRENT OIL PRICE 2021 - $66.71 The UK’s newest upstream oil and gas operator, Harbour Energy, was on the look-out for acquisitions as it looked to build a “material” offshore position in at least one region beyond the North Sea. CEO, Linda Cook, confirmed she expected production from its portfolio of around 200,000 b/d of oil equivalent over the year.

5 Eric Doyle

The Social Organisation

- BRENT OIL PRICE 2017 - $55.66

Ever since there was just a few of us wandering the world, we realised that if we formed a group and talked to each other we had a better chance of not being eaten by a wild animal that day.

Patrick sees a social organisation as resetting the focus on more humanised relationship with many groups of people. Being a social organisation allows Cyberhawk to develop trust with people who can help their business, not only prospects…everyone who can and will be involved with their business. They are using their social organisation to build a sense of internal and external belonging as well as making themselves stand out from their competition.

Forming communities in the shape of clubs, societies, unions, Facebook groups, WhatsApp groups are all ways that we can be social. Being social is a survival instinct, so much so that we don't even need to "think" about a person, we "know".

The social organisation uses social media as the centre point of the organisation, not only for Sales and Marketing but for recruitment, for supply chain, for personnel development, for operational, and technical influence for leadership example…for everything.

Social Media has changed our world and the great thing about social media is in its description…it's social.

I asked Patrick what changed for Cyberhawk since they became a social organisation…

We train and coach companies how to become Social Organisations. This is when you start to see Social Media as more than just a series of point solutions, it’s when you put it right at the heart of our organisation… all disciplines, all functions.

“The daily information overload we are all subjected to prevents us from discerning the right from wrong and not easily identifying a business’s unique selling points. Since we’ve become a social organisation, our communication has evolved and simplified, allowing us to diversify and get closer to our audience, this in turn has helped us expand our marketing outreach and strengthen existing relationships”.

One of our clients, Patrick Saracco, who is the Chief Revenue Officer at Cyberhawk explains it well. “A social organisation recognises that building a more humanised relationship with all of its stakeholders from customers to investors and employees, develops trust and a sense of belonging to differentiate from an ever-growing digital marketplace.”

YEARS AGO

As more elements of our commercial life turn to digital, its important we take control and enjoy the benefits of becoming social organisations.

Eric is a Co-Founder of Crux Consultancy Limited who train and coach cross sector B2B teams in the art and science of Social Selling & Influence.

Environmental groups claimed Shell’s plans to decommission one of the North Sea’s most iconic fields could breach international law. The oil giants lodged plans to decommission the Brent field, they wanted to leave the legs of three platforms in place rather than removing them, but environmentalists claimed the plans were not detailed enough to be accepted. President Trump expanded oil and gas drilling off U.S. shores, lifting restrictions in the Arctic and Atlantic oceans, that were put in place by former President Obama.

YEARS AGO

- BRENT OIL PRICE 2012 - $118.76 A Gas leak from Total’s Elgin gas field in the UK North Sea continued to leak but engineers installed diverter equipment to lead the flow away from the production platform in order to make it safer to get on board and tackle the leak. President Obama tightened regulations on the oil and gas industry in the United States, requiring drillers to capture emissions of certain air pollutants from new wells. These regulations looked to support Obama’s plea to support the oil and gas sector in a safe manner for the environment.

ENERGY NEWS

The Russian invasion of Ukraine and its consequences on the energy markets with skyrocketing prices, supply deficit, and international majors announcing they would pull out of Russia was the biggest theme in the European energy market in the past month. The war also threw the progress to net-zero emissions and ways to reduce Europe’s dependence on Russian oil and gas into sharp relief.

Europe

Energy Review By Tsvetana Paraskova

Oil & Gas Days after Russia invaded Ukraine, the top European oil and gas firms raced to announce they are withdrawing from joint ventures and assets in Russia. UK supermajor bp was the first to announce it would divest from Russia. In just a few days, many other Western oil majors followed suit. bp said it would divest its 20% stake in Russian giant Rosneft. bp chief executive Bernard Looney resigned from the board of Rosneft with immediate effect. The other Rosneft director nominated by bp, former bp CEO Bob Dudley, also resigned from the board. As a result of the exit from Rosneft, bp expects to report a material non-cash charge with its first quarter 2022 results, probably around $25 billion. The war in Ukraine “has caused us to fundamentally rethink bp’s position with Rosneft. I am convinced that the decisions we have taken as a board are not only the right thing to do, but are also in the long-term interests of bp,” CEO Looney added. Shell also said it would exit its equity partnerships with Gazprom entities, including the Nord Stream 2 gas pipeline project, its 27.5% stake in the Sakhalin-II LNG facility, its 50% stake in the Salym Petroleum Development and the Gydan energy venture. “We cannot – and we will not – stand by,” Shell’s CEO Ben van Beurden said, referring to Russia’s invasion of Ukraine as “a senseless act of military aggression which threatens European security.” A few days later, Shell apologised for buying Russian oil after the war broke out and said it intended to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased

www.ogv.energy I April 2022

manner, aligned with new government guidance. As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut its service stations, aviation fuels and lubricants operations in Russia. Norway’s Equinor also decided to stop new investments into Russia, and to start the process of exiting its Russian joint ventures. Equinor will not enter any new trades or engage in transport of oil and oil products from Russia, the company said, noting that it would complete the delivery of four cargoes in March, contracts for which it had signed in January. TotalEnergies of France also condemned the Russian invasion but stopped short of announcing a withdrawal. TotalEnergies will no longer enter into or renew contracts to purchase Russian oil and petroleum products, in order to halt all its purchases of Russian oil and petroleum products as soon as possible and by the end of 2022 at the latest. The company, which does not operate any oil and gas fields or any LNG plants in Russia, said it would provide no further capital for the development of projects in Russia.

TotalEnergies, however, will not be trying to divest its minority stakes in Russian assets because “The current environment of European sanctions and Russian laws controlling foreign investments in Russia would prevent TotalEnergies to find a non-Russian buyer for its minority interests in Russia. Abandoning these interests without consideration would enrich Russian investors, in contradiction with the sanctions' purpose.” Wintershall Dea wrote off financing of Nord Stream 2 and will not advance or pursue additional projects in Russia. OMV of Austria said it would no longer pursue investments in Russia, and will undertake a strategic review of its 24.99% interest in the Yuzhno Russkoye field. This review comprises all options including possibilities to divest or exit. Supply concerns and Vladimir Putin’s idea that “hostile” countries – including all of the EU and the UK – should pay in Russian roubles for gas sent European gas prices to record highs, while the UK and the EU were drafting strategies to reduce and eventually eliminate dependence on Russian energy supply. The European Commission proposed a plan to make Europe independent from Russian

Europe fossil fuels well before 2030, starting with gas. The plan, REPowerEU, will seek to diversify gas supplies, speed up the roll-out of renewable gases, and replace gas in heating and power generation. This can reduce EU demand for Russian gas by two thirds before the end of the year, the EC said in early March. Norway allowed Equinor and its partners to increase gas production from the Troll, Oseberg, and Heidrun fields, with high output maintained through the summer months. Equinor has also decided to postpone turnarounds on the Oseberg field from May to September this year in order to accelerate production. "In this highly challenging situation we do our utmost to deliver as much as possible to our customers, enabling them provide homes and companies with gas. We are pleased that we, together with the authorities, our partners and Gassco, now ensure that we can export more gas this summer, while increasing the robustness of gas exports,” said Irene Rummelhoff, executive vice president, Marketing, Midstream & Processing. Also in Norway, Neptune Energy and partners announced at the end of February drilling had commenced on the Hamlet exploration well in the Norwegian sector of the North Sea.

Low-Carbon Energy

In UK onshore wind, RenewableUK called for the UK and devolved Governments to boost the UK’s onshore wind capacity as a key part of the nation’s strategy to cut dependence on gas and move to low-cost, home-grown energy sources. The UK can more than double its total onshore wind capacity from 14 GW now to 30 GW by 2030 and this would add £45 billion to the economy and support 27,000 jobs. Ørsted has signed an agreement to sell for £3 billion a 50% ownership stake in its 1.3 GW Hornsea 2 Offshore Wind Farm to a consortium comprising AXA IM Alts, acting on behalf of clients, and Crédit Agricole Assurances. Hornsea 2 off the Yorkshire coast is currently under construction and will become the world’s largest offshore wind farm once commissioned later in 2022. Successful ScotWind partners, ScottishPower and Shell, said they are set to invest a total of £75 million to help the supply chain and businesses support the growth of the offshore wind industry in Scotland.

The UK’s total pipeline of offshore wind projects now stands at 86 GW – more than eight times the current operational capacity

The number of green jobs in Scotland has fallen in recent years, according to data from the Office of National Statistics (ONS) through 2020. In low-carbon energy, Crown Estate Scotland said regarding the ScotWind leasing process that it is committed to taking all appropriate action not to support trade and investment activity with Russia. “Crown Estate Scotland has carried out an initial check of applicants for Russian ownership and/or registration. This initial check did not uncover any Russian ownership or registration,” it said. In the UK, the Industry and Regulators Committee said in a report in early March that the Government is likely to miss its target for reducing emissions to net-zero by 2050 unless it puts in place credible plans which are needed to encourage essential investment by consumers and businesses. “The Government must act urgently to explain how the transition to net-zero will be funded,” said the report and added: “Ensuring security of energy supply alongside responding to climate change must remain a key priority for the Government.” The Crown Estate completed at the beginning of March phase two of its ongoing engagement with the market and stakeholders, seeking input to plans for up to 4 GW of floating wind leasing in the Celtic Sea. The stakeholders shared views on preferred floating wind technology types, how to deliver a coordinated grid solution, and the need for investment in both UK supply chain and port infrastructure to help realise the scale of the ambition of the programme. A UK net-zero power system by 2035 is achievable, National Grid said in a report, presenting an analysis that suggests that even on a winter’s day with low winds and very little sunshine such a power system is achievable, albeit with some legacy fossil fuel generation as a reserve. The technology needed is available today or will be attainable with continued innovation, National Grid said, but noted that “it is a massive endeavour and success is uncertain.” The UK’s total pipeline of offshore wind projects now stands at 86 GW – more than eight times the current operational capacity, new research published by RenewableUK showed at the end of March.

Aberdeen City Council and bp signed a joint venture agreement to develop the city’s hydrogen hub. Aberdeen City Council and bp have committed £3 million for initial design work with a final investment decision for the phase one facility build expected in early 2023, with first production targeted for 2024. bp will also invest £1 billion in UK EV charging infrastructure over 10 years in its the largest-ever EV charging expansion.

Centrica Business Solutions has secured the development rights for a fully consented 30-MW 2hr battery storage plant in Aberdeenshire that will help maximise the use of renewable energy in the Scottish North Sea. The site in Dyce is located near a connection for North Sea offshore wind farms and will contribute towards managing network constraints. Copenhagen Infrastructure Partners (CIP) and Alcemi announced a partnership for the development, construction, and operation of a 4 GW portfolio of energy storage assets across the UK, supporting the integration of renewable energy capacity and the transition to net-zero by 2050. Italy’s energy and telecom cable systems provider Prysmian Group has been awarded a contract worth around €1.2 billion by NeuConnect Britain Limited and NeuConnect Deutschland GmbH for the turn-key design, manufacturing, installation, testing and commissioning of a 725 kilometre submarine interconnector that will directly link the German and UK electricity grids for the first time. German LNG Terminal and Shell signed on 23 March a Memorandum of Understanding on the import of LNG through the planned terminal in Brunsbüttel. Under the agreement, the companies agreed that Shell would make a long-term booking of a substantial part of the Brunsbüttel terminal’s capacity for the import of LNG.

ENERGY NEWS

ENERGY REVIEW

By Tsvetana Paraskova

US oil and gas activity accelerated in the first quarter of 2022 as the nearterm outlook improved significantly, but uncertainty also spiked amid the soaring and volatile energy prices in the wake of Russia’s war in Ukraine. The US Administration called on domestic producers to boost oil output – if they can – to help ease the upward pressure on international crude oil prices and US petrol prices. The US oil industry supported the Administration’s ban on imports of Russian oil, LNG, and coal and urged policymakers once again to advance US energy leadership and expand domestic production to counter Russia’s influence in global energy markets.

www.ogv.energy I April 2022

US US Oil & Gas Expansion Accelerates Activity in the oil and gas sector accelerated in the first quarter of 2022, the quarterly Dallas Fed Energy Survey showed. According to responses from executives, the business activity index — the survey’s broadest measure of conditions for energy firms in Texas, northern Louisiana, and southern New Mexico — jumped from 42.6 in the fourth quarter to 56.0 in the first quarter of 2022, which is its highest reading in the survey’s six-year history. Oil production growth accelerated, with the index surging from 19.1 in the fourth quarter to 45.0 in the first quarter. Similarly, the natural gas production index advanced 14 points to 40.0. Inflationary pressures also increased as costs rose for a fifth quarter in a row, the survey showed. Among oilfield services firms, the index for input costs increased from 69.8 to a record high of 77.1. Only one of the 50 responding oilfield services firms reported lower input costs this quarter. Oilfield services firms reported improvement across all indicators, with high indexes for equipment utilisation, operating margins, and prices received for services. “Six-month outlooks improved significantly, with the index climbing from 53.2 last quarter to 76.3, a record high. The outlook uncertainty index also jumped from -1.5 to 31.9, suggesting uncertainty became much more pronounced this quarter,” according to the survey.

Administration Urges Firms for More Oil As It Bans Russian Imports Less than two weeks after the Russian invasion of Ukraine started, the US banned imports of Russian oil, liquefied natural gas, and coal to the United States. “The United States is able to take this step because of our strong domestic energy infrastructure and we recognise that not all of our Allies and partners are currently in a position to join us,” the White House said. “We’re working closely with Europe and our partners to develop a long-term strategy to reduce their dependence on Russian energy as well,” US President Joe Biden said, commenting on the ban. A day after the ban, US Secretary of Energy Jennifer Granholm said at the CERAweek 2022 energy conference in Houston: “We are on a war footing—an emergency—and we have to responsibly increase short-term supply where we can right now to stabilise the market and to minimise harm to American families.”

Oil demand in the United States has increased steadily along with the economy

In comments to the survey, executives at E&P and oilfield services firms said that the Russian war in Ukraine will continue to wreak havoc on oil markets and that the US Administration needs an honest dialogue with the industry. One E&P executive even said in comments to the survey that “Our company’s main concern is the administration’s war on hydrocarbons.” The managers at the US firms also flagged continued limited access to sources of capital and debt. While activity has accelerated considerably, there are limiting factors to how fast US oil production could grow, executives said. “Labor and equipment shortages, along with inflation in oil country tubular goods and shortages of key equipment and materials, will limit growth in our business and U.S. oil production. In particular, truck drivers are in critical shortage, perhaps due to competition from delivery services,” one manager noted. Another manager, at a services firm, said: “So much uncertainty makes it, for me at least, virtually impossible to predict anything beyond this afternoon. There is uncertainty domestically, globally and regulatorily.”

“We’re serious about decarbonising while providing reliable energy that doesn’t depend on foreign adversaries. That means we’ll walk and chew gum at the same time. So yes, right now, we need oil and gas production to rise to meet current demand,” Secretary Granholm said.

The American Petroleum Institute (API) welcomed the White House’s decision to ban Russian energy imports. “The industry has already taken significant and meaningful steps to unwind relationships, both with respect to assets in Russia, as well as imports of Russian crude oil and refined products. We share the goal of reducing reliance on foreign energy sources and urge policymakers to advance American energy leadership and expand domestic production to counter Russia’s influence in global energy markets,” API President and CEO Mike Sommers said in a statement. Todd Staples, president of the Texas Oil & Gas Association, said, commenting on the Russian war in Ukraine and the skyrocketing energy prices: “This crisis should be a wakeup call that we need strategic American energy policy that treats oil and natural gas as an asset and not a liability. The suffering of consumers at the pump underscores the importance of domestic energy production, and American consumers are feeling the repercussions of cancelled pipeline projects, delayed approvals for permits and the discouragement of additional expansion, poor decisions all exacerbated by the war.”

Demand Outpaces Production Oil demand in the United States has increased steadily along with the economy, while supply lacked the workforce and supply chain foundation, financial backing, and supportive energy policies required for production to keep pace, API’s chief economist Dean Foreman said, commenting on the latest API Industry Outlook for Q1 2022. Concerns remain that Russian oil and gas flows could be disrupted in the near future, through physical disruptions, sanctions that prohibit flows, or if Russia decides to wield its energy as a weapon by withholding it from the global market, Foreman noted. “As such, the health and viability of U.S. production growth, both for crude oil and natural gas, could be critical to global management of risk and uncertainties posed by Russia,” he said. The US industry’s capital expenditures supporting U.S. and global crude oil and natural gas production rose by nearly one-third to US$56 billion between the third and fourth quarters of 2021. However, this $56 billion in Q4 2021 was well short of the $71 billion expenditures in Q4 2019, before the pandemic. “The most assured path to support U.S. consumers and help keep the economy on track is to support U.S. crude oil and natural gas production. This has been a recurrent, if not indelible, theme through the 2020 downturn and its recovery since then,” Foreman commented. US oil production is set to grow in coming months as both private and large public E&P operators will continue to raise drilling activity, Enverus Intelligence Research said in a report at the end of March. Drilling activity at large US independent producers has already risen by around 15% since November 2021, and Enverus believes continued moderate increases are likely — and warranted — based on pre-war price expectations. At the same time, private operators are currently taking advantage of the outsised rates of return and are raising their share of horizontal drilling to nearrecord levels. “Should long-dated prices move over $90/ bbl, another step-change in activity would be justified. The E&P industry can return to strong growth while remaining profitable and environmentally responsible,” according to the Enverus report.

“Private operators have been and will continue to take advantage of the outsised returns, and we believe continued drilling activity increases from large U.S. independents are likely and warranted,” said Farzin Mou, lead report author and vice president at Enverus Intelligence Research.

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By Tsvetana Paraskova

Middle Eastern oil producers and the OPEC+ group they are part of continued with their planned moderate monthly production increase despite the Russian invasion of Ukraine and the skyrocketing oil prices and the potential of a supply deficit the war has brought. OPEC put its demand growth forecast for 2022 under assessment, warning of a potential slowdown in global oil demand. As a result of high prices and regional benchmarks, as well as a tight global market, Saudi Arabia, the world’s largest crude oil exporter, raised the prices of its crude to Asia in April to all-time high premiums over the Dubai/Oman benchmark, off which Saudi supply to Asia is being priced. In addition, the biggest oil company in the world, Saudi Aramco, posted bumper profits amid rallying oil prices and signed several deals to expand its downstream presence in China, while the state energy firms of the United Arab Emirates (UAE) and Qatar announced partnerships to grow upstream, downstream, and in alternative energy sources such as hydrogen.

www.ogv.energy I April 2022

OPEC+ Leaves Production Unchanged Despite $100-Plus Oil In early March, the OPEC+ alliance in which Russia is a key member left its oil production plan intact, deciding to raise output by 400,000 barrels per day (bpd), and without mentioning the Russian invasion of Ukraine. During the meeting, “it was noted that current oil market fundamentals and the consensus on its outlook pointed to a well-balanced market, and that current volatility is not caused by changes in market fundamentals but by current geopolitical developments,” OPEC said in a statement.

According to the production schedule for April provided by OPEC, the OPEC+ alliance’s collective quota is 41.697 million bpd. The leaders of the pact, Saudi Arabia and Russia, each have a quota of 10.436 million bpd for April. Following the OPEC+ meeting, and amid expected strong demand for Middle Eastern crude in the wake of buyers’ shunning of Russian oil, Saudi Arabia raised the prices for its crude going to Asia in April by more than $2 per barrel, and some grades are being sold at a record-high premium over the Oman/Dubai prices. The price of the flagship Saudi grade, Arab Light, was hiked to $4.95 a barrel over Oman/Dubai—an all-time high differential for this type of crude.

Middle East OPEC Warns Of Slowdown in Demand Growth In its Monthly Oil Market Report, OPEC warned of a potential slowdown in global oil demand growth this year, due to the war in Ukraine that sent energy prices skyrocketing, inflation accelerating, and supply chains disrupted once again. The Organisation of the Petroleum Exporting Countries left its outlook of global oil demand growth at 4.2 million bpd, “for the time being”, but flagged “the extremely high uncertainty surrounding global macroeconomic performance.”

“We are also investing in CCS, renewables and low-carbon hydrogen production - supporting the global energy transition and advancing our net-zero ambition,” he added. In March Saudi Aramco also awarded a major contract to Schlumberger for integrated drilling and well construction services in a gas drilling project. The integrated project scope encompasses drilling rigs and technologies and services, including drill bits, measurement while drilling (MWD) and logging while drilling (LWD), drilling fluids, cementing, and completing wells.

Aramco has also signed over the past month deals to boost its presence in China. An Aramco subsidiary signed a Memorandum of Understanding (MoU) with As of the end of March, China Petroleum & Chemical Corporation (Sinopec) for OPEC still expected potential downstream world oil demand to collaboration in China. The exceed pre-pandemic two companies also plan to support Fujian Refining levels on average and Petrochemical Company, this year Ltd in conducting a feasibility study into the optimisation and expansion of capacity.

“Looking ahead, and given the latest developments, which are still only beginning to unfold, it is clear that uncertainty will dominate in the remaining months of 2022: i.e.: uncertainty with regard to the scope and impact of the current geopolitical turmoil, restrictions and restructuring of production and trade flows, uncertainty on to what degree this will impact inflation and oil demand, and how this will serve to accelerate the drive towards energy transition, particularly in Europe,” OPEC said in its report. “Given this unprecedented level of uncertainty, the forecast for total global oil demand growth for 2022 also remains under assessment at 4.2 mb/d, until more clarity prevails,” the organisation added. As of the end of March, OPEC still expected world oil demand to exceed pre-pandemic levels on average this year, “However, this forecast is subject to change in the coming weeks, when there is more clarity on the farreaching impact of the geopolitical turmoil.”

Contracts and Partnerships Saudi Arabia’s state oil giant Aramco reported on 20 March a net income of $110.0 billion for 2021, up from $49.0 billion for 2020, as oil prices rebounded last year from the 2020 slump in the pandemic. Free cash flow more than doubled to $107.5 billion from $49.1 billion. The world’s largest oil company confirmed an annual dividend of $75 billion, including $18.8 billion for the fourth quarter of 2021. Capital expenditure in 2021 stood at $31.9 billion, up by 18% compared to 2020, primarily driven by increased activities in relation to crude oil increments, Tanajib Gas Plant, and development drilling programs. Aramco expects capital expenditure to be around $40-50 billion in 2022, with further growth expected until around the middle of the decade.

Aramco announced in March the final investment decision to participate in the development of a major integrated refinery and petrochemical complex in Northeast China. Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco, North Huajin Chemical Industries Group Corporation, and Panjin Xincheng Industrial Group, will develop the liquids-to-chemicals complex. The project, which will include 300,000 bpd refinery capacity and petrochemical units, is expected to start operations in 2024.

ADNOC also awarded framework agreements valued at $658 million for cementing services as it continues to invest in drilling growth and expanding its crude oil production capacity. The framework agreements were awarded to Haliburton, Baker Middle East, Emirates Western, NESR Energy Services, and Emjel Oil Field Services (Emjel), following a competitive tender process. The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years. ADNOC moved to expand its strategic partnerships in hydrogen with leading German companies by signing MoU and joint study agreements with firms in Germany to accelerate and deepen collaboration in clean hydrogen. “We remain committed to working with likeminded partners across the public and private sectors to implement tangible projects that will supply the world’s energy needs, while reducing carbon emissions and the carbon intensity of the energy that supports our everyday lives,” said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO. Qatar, one of the world’s largest exporters of LNG, said at the end of March after a meeting with German officials that the German government had taken swift and concrete actions to fast-track the development of two LNG receiving terminals in Germany.

Based on the German plans to boost LNG imports, Germany and Qatar agreed that their respective commercial entities would re-engage and progress discussions on long term LNG supplies from Qatar to Germany, QatarEnergy said.

In the UAE, Abu Dhabi National Oil Company (ADNOC) signed an agreement with methanol producer Proman to develop the UAE’s first world-scale methanol production facility at the TA’ZIZ Industrial Chemicals Zone in Ruwais. The natural gas to methanol facility will have an annual capacity of up to 1.8 million tonnes.

“We recognise that energy security is paramount for billions of people around the world, which is why we continue to make progress on increasing our crude oil production capacity, executing our gas expansion program and increasing our liquids to chemicals capacity,” said Aramco President and CEO Amin Nasser.

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POLAND - Equinor MFW Baltyk II and MFW Baltyk III Offshore Wind Farms $4.6 Billion

Siemens Gamesa has been chosen as the preferred supplier for the MFW Baltyk II and MFW Baltyk III projects. The manufacturer will supply its SG 14-236 DD model, which has 14MW nominal power and can reach up to 15MW capacity with Power Boost. The agreement represents the first offshore wind preferred supplier agreements announced in Poland.

MALAYSIA - Petronas Kerteh Low Carbon Hydrogen Facility $850 Million

AUSTRALIA - ExxonMobil Longford Carbon Processing Plant $150 Million

COLUMBIA - Copenhagen Infrastructure Partners

Petronas and ENEOS Corporation have partnered to deliver a feasibility study for the production of low carbon hydrogen from Petronas' existing facilities with a capacity of 50,000 tonnes per annum. The hydrogen will be converted to methylcyclohexane (MCH) for export by 2027 to Japan to be distributed through ENEOS' refineries. A final investment decision is expected by the end of 2023.

ExxonMobil has announced plans to capture and reuse carbon dioxide from its operations in Australia’s offshore Gippsland basin.

Copenhagen Infrastructure Partners and the city of Barranquilla have signed a memorandum of understanding (MoU) for the development of a 350MW offshore wind farm.

www.ogv.energy I April 2022

The company has announced that Air Liquide has started construction works of a processing facility to capture and recycle CO2 from ExxonMobil’s Longford gas conditioning plant.

Barranquilla Offshore Wind Farm

$1 Billion

The development could attract investment of up to $1 billion.

BRAZIL - Enauta Energia Atlanta Heavy Oil Field $1.2 Billion OneSubsea has been awarded a contract to supply the subsea system which will include the subsea pumps and subsea trees. During February the operator made a final investment decision on the field development which will require a total investment of $1.2 billion.

6 NORWAY - AkerBP Krafla Oil Field (Noaka Development) $500 Million Subsea 7 has been awarded the FEED study for the marine installation work. Work which is set to begin immediately will see project management and engineering taking place at Subsea 7 offices in Stavanger and Aberdeen. Once the project reaches FID, Subsea 7 are expected to be announced the EPCI contractor with offshore installation activities to take place in 2024, 2025 and 2026.

WORLD PROJECTS

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SAUDI ARABIA - Saudi Aramco Shadun Field $500 Million

Saudi Aramco has announced five discoveries located in four different regions. The Shadun-1 well has a flow of gas at a rate of 27 MMcf/d with 3,300 barrels of condensate. The Shehab-1 well gas a flow of gas at a rate of 31 MMcf/d. the Shorfa-2 well has a flow of gas at a rate of 16.9 MMcf/d with 50 barrels of condensate. The Umm Khansar-1 well has a rate of 2 MMcf/d with 295 barrels of condensate while the Samna-2 well has a rate of 5.8 MMcf/d with 24 barrels of condensate.

PAPUA NEW GUINEA Arran Energy Stanley Gas Field $300 Million

INDONESIA - MedcoEnergi Paus Biru Gas Field $100 Million

USA - Ocean Winds Humboldt Floating Offshore Wind Farm $750 Million

Arran Energy has selected Azota Gas Processing as the EPC contractor for the upstream production facility which will have a throughput capacity of 90 MMcf/d of gas and 2,800 boe/d of condensate.

Partner in the development, Cue Energy, announced that the final investment decision is expected to be reached in July/August once commercial discussions are finalised. A development concept of a single well with a minimum facilities wellhead platform and 27-km pipeline tie-in to the Oyong facilities is being proposed.

The California Energy Commission (CEC) has given approval for a US$10.5 million grant aimed at renovation work at the Port of Humboldt Bay. Planned to be redeveloped as the Humboldt Bay Offshore Wind Heavy Lift Marine Terminal, the facility will support future wind developments offshore California. The wind farm has a proposed capacity of 150MW and will comprise of 15 turbines.

The contract will be formally awarded once the final investment decision is reached which is expected before the end of Q1 2022.

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INNOVATION

New Energy Is Gaining Momentum By Tsvetana Paraskova

Renewable energy and renewable biofuels and hydrogen were already gaining momentum even before the Russian war in Ukraine. Now the UK, the US, and the European Union are determined to free themselves from Russian energy dependence and overhauled their energy security and strategy plans, which rely on acceleration of clean energy usage. Faster energy transition presents its own challenges, considering the tight supply chains in key minerals and critical rare earth elements vital for battery pack manufacturing. Inflation in the costs of steel and polysilicon, combined with high energy prices globally, could reverse a decade of cost cuts and slow down the rollout of wind and solar projects due to higher costs and supply chain bottlenecks.

Record Renewable Installations and Clean Energy Investments Despite rising costs for key materials used to make solar panels and wind turbines, additions of new renewable power capacity rose to 290 gigawatts (GW) in 2021, surpassing the previous all-time high set in the previous year, according to the latest edition of the IEA’s annual Renewables Market Report from December 2021. By 2026, global renewable electricity capacity is expected to jump by more than 60% from 2020 levels to over 4,800 GW – equivalent to the current total global power capacity of fossil fuels and nuclear combined. Renewables are set to account for nearly 95% of the increase in global power capacity through 2026, with solar PV alone providing more than half, the IEA said.

Investment in renewable energy sources and technologies hit a new record in 2021 and is set to remain strong in coming years as many major economies have pledged to achieve net-zero emissions by 2050. Moreover, over the past few weeks many Western governments have committed to reduce or entirely eliminate their dependence on Russian fossil fuels after Europe’s dependence on Russian energy tied its hands and it cannot afford to impose bans on oil, gas, and coal imports from Russia after Putin’s invasion of Ukraine.

www.ogv.energy I April 2022

Still, faster deployment in all clean energy sectors is needed in a scenario where the world achieves net-zero by 2050, the agency added. Policy makers need to address challenges in permitting, grid integration, grid availability, and remuneration for offtakers in order to accelerate clean energy installations and usage, according to the IEA. Installations and battery demand are set to jump by the middle of this decade, analysts say.

NEW ENERGY For example, rooftop solar PV installations are set to surge in the next three years, with total capacity reaching 94.7 GW by 2025, Rystad Energy said in an analysis in March. Rooftop installations have jumped by 64% in five years, rising from 36 GW in 2017 to 59 GW in 2021 and now represent 30% of the total global solar capacity. “Small scale solar PV, including residential, commercial and industrial (C&I), and off-grid projects, are gaining momentum supported by economics and policies, with China, Japan, Germany, the US and Australia emerging as key markets. Key drivers for the high uptake in the residential sector include high retail electricity costs, low system costs, high FiTs and the available roof space,” said Gero Farruggio, Rystad Energy’s head of renewables research. The net-zero ambitions could lead to a global surge in battery demand, which could jump 15 times by 2030 compared to 2021, Rystad Energy said in another report in March. “Battery demand growth is inevitable as the energy transition quickens, but global supply will fall short without substantial investment or improvements in battery technology in the immediate future,” said Marius Foss, head of global energy systems at Rystad Energy. In 2021, global investment in the energy transition set a new record of $755 billion, thanks to rising climate ambition and policy action from countries around the world, the Energy Transition Investment Trends 2022 report by research firm BloombergNEF (BNEF) showed in January. Investment rose in almost every sector covered in the report, including renewable energy, energy storage, electrified transport, electrified heat, nuclear, hydrogen, and sustainable materials. Only carbon capture and storage (CCS) recorded a dip in investment, though there were many new projects announced in 2021.

wider society have unanimously condemned the conflict. If that same collective will and resolve can be harnessed to tackle climate change, a 1.5 °C pathway might just be achievable,” Flowers wrote, noting that decarbonisation could be the answer to energy security.

“If we want to diversify our energy sources and reinforce American energy independence, encouraging solar and storage deployment and investing in domestic manufacturing is the best opportunity we have to double down on clean, and reliable energy,” SEIA said.

While Europe will certainly look for alternatives to Russian gas – on which it collectively depends for more than one-third of its gas supply – it has also pledged to accelerate renewable energy and biofuels and hydrogen usage to reduce overall dependence on imports.

The UK, for its part, said it would phase out by the end of the year imports of Russian oil in response to Vladimir Putin’s illegal invasion of Ukraine.

“A major shift will be that countries double down on low-carbon energy to bolster energy security. That means more renewables, nuclear and hydrogen. Importers won’t fall into the trap of becoming too dependent on imported fuels – they’ll want a range of suppliers,” WoodMac’s Flowers said. The European Commission proposed in early March a plan to make Europe independent from Russian fossil fuels well before 2030, starting with gas, in light of Russia's invasion of Ukraine. The plan will seek to diversify gas supplies, speed up the roll-out of renewable gases and replace gas in heating and power generation. This can reduce EU demand for Russian gas by two thirds before the end of the year, the Commission said. “We must become independent from Russian oil, coal and gas. We simply cannot rely on a supplier who explicitly threatens us,” Commission President Ursula von der Leyen said. “The quicker we switch to renewables and hydrogen, combined with more energy efficiency, the quicker we will be truly independent and master our energy system,” von der Leyen added.

Executive Vice-President for the European Green Deal, Frans Timmermans said: “Renewables are a cheap, clean, and potentially endless source of energy and instead of funding the fossil fuel industry elsewhere, The net-zero they create jobs here. Putin's ambitions could war in Ukraine demonstrates the urgency of accelerating our lead to a global clean energy transition.”

Russian imports account for 8% of total UK oil demand, but the UK is also a significant producer of both crude oil and petroleum products, in addition to imports from a diverse range of reliable suppliers beyond Russia including the Netherlands, Saudi Arabia, and USA, the government said. “Renewables are the quickest and cheapest route to greater energy independence. They are invulnerable to Putin’s manipulations. He may have his hand on the taps for oil and gas. But there is nothing he can do to stop the North Sea wind,” UK Prime Minister Boris Johnson wrote in an opinion piece in The Telegraph in the middle of March. UK Business and Energy Secretary Kwasi Kwarteng commented on the role the UK North Sea operators will play in the UK’s energy security: “Our North Sea oil and gas sector has been a major industrial success story for decades, providing jobs, tax revenue and energy security. We will continue to back this vital sector to maximise domestic production while we transition to cheap, clean, home-grown power.” Most Scottish voters support building more renewable energy projects in Scotland to tackle climate change, with 74% saying they would think favourably of a political party which puts a strategy in place to do this, with only 6% against, according to Polling published by RenewableUK at the end of February.

“The energy transition is well underway, and moving faster than ever, but governments will need to mobilise much more surge in battery finance in the next few years if we are to get on track for netThe Commission also continues demand zero by 2050,” Matthias Kimmel, its investigation into the gas Head of Energy Economics at market in response to concerns BNEF, said in a statement. about potential distortions of Governments Revise Energy Strategies competition by operators, notably To Cut Reliance on Russia Russia’s gas giant Gazprom. Governments, especially those in Europe, have realised they need to mobilise a lot of effort and increased financing for clean energy solutions in order to reduce their reliance on Russian energy, in the aftermath of the Russian invasion of Ukraine. The war in Ukraine could accelerate decarbonisation, Simon Flowers Chairman and Chief Analyst at Wood Mackenzie, said a week after Putin ordered troops into Ukraine. “Achieving net-zero depends on unity and global cooperation. Governments, companies and

The UK and the US are also looking to accelerate renewable power installations, alongside relying on their domestic oil and gas supplies or supplies from countries other than Russia. The White House finally asked the US oil producers to raise production if they can, although renewables rollout and the green agenda continue to be pillars of President Joe Biden’s energy strategy in the long term. After the US banned imports of Russian energy, the U.S. Solar Energy Industries Association (SEIA) noted in a blog post that “there is growing consensus that we can no longer rely on foreign adversaries for our energy needs.”

“Building new onshore wind projects is also one of the cheapest ways to generate new power, so in the long term these projects will also help to reduce the UK’s dependence on fossil fuels, including volatile international gas prices,” RenewableUK’s Chief Executive Dan McGrail said, commenting on the poll.

NEW ENERGY

TWEFDA:

Combined wave energy converter & green storage What if instead of decommissioning old assets, you could invest in re-purposing them for clean energy generation and storage?

ES-Wave devices

Find out more at

www.twefda.com TWEFDA Hub

Wave Energy

Storing Green Energy

Waves can travel for extremely vast distances. In fact, if nothing stops them, they will travel forever. This means that we can find waves where there is no wind which means that virtually, wave energy can be at a given place almost at any time. The best thing about wave energy is that it will never run out because waves are renewable. They don’t depend on seasons and they can always be counted on.

The TWEFDA Hub would act as a green energy storage hub. The energy stored in the ES-Wave devices can be used to deliver energy to the grid when it is needed and the excess energy can also be transformed into hydrogen and accumulated in storage tanks on the TWEFDA Hub.

Harnessing Wave Energy The ES-Wave device was designed to harness unprecedented levels of energy and its portability can allow for it to be sitting in different locations. It is technically a point absorber wave energy converter when acting as a generator and works similarly to a Pumped Hydro when acting as an energy storage device. The working strategy behind the technology also allows the device to be working on a 24/7 basis.

A large grid of energy storage assets could create a reliable network of nodes which would help secure the energy storage needs of the national grid and even become a part of the refuelling infrastructure necessary to sustain the future's fleet of hydrogen or electric vessels.

Recommission not Decommission

Using the tidal range, the machine can potentially deliver to the energy provider (usually the national grid) even more energy than what was absorbed from it.

The possibility of re-using old existing assets, which would otherwise simply be decommissioned, makes this technology a great investment opportunity; rather than spend millions of pounds on removing the old asset and cause environmental damage to the existing marine life, the already factored-in decommissioning costs can be diverted into giving the asset a new life and purpose thus transforming the operation into a highly productive intervention rather than a mere removal process.

The capacity factor for wind farms was about 37.4% in 2018 reaching 63% with the avant-garde Haliade-X. The estimates for the capacity factor for the ES-Wave are over 80% as a generator and close to 100% by using its dual capabilities.

With the growing need for clean and reliable energy storage and the world moving towards a greener and more sustainable future, this technology could provide a great solution for many old assets which are reaching their existing end-of-life utility.

www.ogv.energy I April 2022

NEW ENERGY

Managing Environmental and Carbon Footprint In October/November 2021 Glasgow hosted the 26th UN Climate Change Conference of the Parties (COP26), 197 nations of the world were represented at the conference. The COP26 Goals are aimed at change on a national level but identify that “We can only rise to the challenges of the climate crisis by working together.” The week before COP26 we saw the public’s interest and demand for more action on climate change which culminated in marches and protests during the week of COP26. With public interest growing in climate change action, it will begin to show itself in consumer habits which will translate itself into a need to shift supply chain values to more environmentally conscious behaviors and attitudes. Regardless of which industry your business operates in, it is likely there will be more of an incentive to become more sustainable and environmentally conscious. There is a recognition, especially among consumers, that to protect the natural environment, keeping it clean and unpolluted, stewardship from industry and businesses will play an ever increasing and important role. With supply chains likely to face increasing scrutiny on environmental matters such as sustainability, carbon neutrality or becoming carbon zero, the expectations from consumers alongside local, national, and even international legislations can quickly become overwhelming, trying to maneuver and manage the expectations, requirements and legislation while trying to operate your business.

Since COP26 there has been a push within industry and business to become carbon neutral, the most common way to achieve this is to offset. PAS 2060 is the only internationally recognised standard for carbon neutrality. PAS 2060 maps the four key stages to carbon neutrality, measurement, reduction, offsetting, and documentation. At the end of the process verification as a carbon neutral business can be achieved. The PAS 2060 follows on from existing standards such as ISO 14001 and PAS 2050 that deal with the emissions of products throughout their lifespans. The PAS 2060 standard allows your business to strengthen relationships with customers and contribute to the fight against climate change. An important part of the PAS 2060 process is that the standard allows the company to purchase carbon credits to offset their carbon emissions, but it requires that the offsets meet certain criteria, and the company cannot receive PAS 2060 verification using offsetting alone but must have a carbon emission reduction plan in place.

Implementation of an environmental management system such as ISO 14001, the international standard for environmental management systems (EMS), can help formulate and maintain your EMS. Implementation of an EMS can help to control your environmental aspects, reduce impacts, and ensure legal compliance.

Industry and business can also benefit from signing up to initiatives such as SME Climate Hub which is “a global initiative that aims to mainstream climate action in the small to medium sized business community and enable SMEs to build resilient businesses for the future.”

ISO 14001 saw a 5.5% increase in worldwide certificates in 2020 which highlights that industry and business have identified the need to become more environmentally conscious, the Statistics come from the most recent ISO Survey. (https:// www.iso.org/the-iso-survey.html)

As an environmentally conscious business, QHSE Aberdeen have signed up to the SME climate hub and have completed the process of becoming a carbon neutral certified business.

Your Business can benefit from certification to the ISO 14001 standard. The certification offers benefits to organisations, regardless of industry or sector, by providing a specific framework for implementing relevant sustainable practices.

With our business being the implementation and maintenance of Management systems for our customers, we have begun to see an increased interest in either implementing

a standalone IS014001 environmental management system or incorporating it into the customers’ existing ISO9001 & ISO45001 systems to create an integrated management system (IMS). We have also seen an increased interest in implementing the PAS2060 standard to help customers achieve carbon neutrality. We have helped the customer with the process of measurement, reduction, offsetting, and documentation which leads to their verification as a carbon neutral business. QHSE Aberdeen’s team of qualified and experienced consultants are available to assist with your needs whether that is implementing an ISO 14001 EMS or incorporating the EMS into your existing management systems, we can also assist if you want to move your business towards achieving carbon neutrality by utilising the PAS2060 standard

Journey to carbon neutrality

Define scope and set methodology Measure

Independent Verification

Demonstrate carbon efficiency improvement

and calculate carbon

Journey to Carbon Neutrality

Create Carbon Neutrality Statement

Document GHG inventory

Create Carbon Reduction Plan Offset Carbon

QHSE Aberdeen provide a Consultancy and Advisory service to organisations of all sizes and sectors that require assistance in the development & implementation of robust Management Systems. We operate internationally with clients from all corners of the world. For more information visit www.qhseaberdeen.com

NEW ENERGY

The Ex-proof legged robot ANYmal X, performing repeated autonomous inspection missions at potentially hazardous Oil & Gas and Chemical facilities.

ANYMAL X -

Transforming Inspection in Oil & Gas and Chemicals

ANYbotics, the Swiss robotics company, introduced ANYmal X, the world's first Ex-proof legged robot. ANYmal X now makes it possible for the Oil & Gas and Chemical industries to automate routine inspections, thereby increasing safety and operational effectiveness. ANYmal X extends the leading mobility, autonomy, and inspection intelligence of ANYbotics' robotic inspection solution. Specifically designed and certified for safe usage in hazardous and potentially explosive environments, ANYmal X is an industry breakthrough.

www.ogv.energy I April 2022

ANYmal X Transforms Routine Oil & Gas and Chemical Inspections Oil & Gas and Chemical operations are complex, and safety is paramount. Plant operators pay special attention to infrastructure where flammable and potentially explosive matter is processed. Ensuring availability and safety in these operationally intricate facilities requires frequent inspections and detailed monitoring. Often, inspections must be performed in or close to potentially hazardous environments, and therefore all on-site equipment must be Ex-certified as safe for use in potentially explosive atmospheres. This means that any equipment used in these areas must be guaranteed not to cause an explosion, even with high levels of combustible substances present. ANYmal X, the recently launched Ex-certified, legged robotic inspection solution, is driving an inspection transformation. Operators in Oil & Gas and Chemicals can now include safe, autonomous, and highly mobile robots in their inspection and workforce planning.

Industry-Wide Impact towards Scaling Robotic Integrations ANYmal X was unveiled together with PETRONAS at OTC Asia in Malaysia on March 22, 2022. At the event, PETRONAS and ANYbotics signed a commercial agreement to scale ANYmal X deployments to their upstream and downstream facilities and to promote the utilisation of ANYmal X across the industry up until 2025. “Several partners are including ANYmal X in their inspection and workforce planning. We are thrilled about this industry-wide impact to improve the safety and efficiency of operations in Oil & Gas and Chemicals through our robotic solution,” Péter Fankhauser, CEO, ANYbotics. Customers intend to deploy 300+ units during the next few years. Given the extensive, early interest in ANYmal X, ANYbotics is planning for additional deployments this year.

“For a first time, ANYmal X closes an important technical gap, conducting automated inspections in very complex environments, with stairs and tight passages, and this in combination with Exzones, that’s a novelty!,” Peter Welter, Automation Manager, BASF. For Oil & Gas and Chemicals, robot inspection solutions reduce HSE risks and OPEX, including the high cost of moving inspection specialists offshore. With autonomous robotic inspections, plant operators benefit from reductions in manual work, less hazardous environment exposure of people, no facility inspection shutdowns, less unplanned downtime, improved workflows, better data tagging, automatic reporting, and generating insights that enable swift operations adjustments.

ANYmal X builds on the advanced mobility of four legs to navigate complex structures consisting of industrial stairs, steps, and narrow passages.

Strategic Customers Lead the Way through the ANYmal X Early Adopters Program To ensure the seamless introduction of inspection robots to their operations, ANYbotics developed an exclusive early adopters program for strategic customers. The program underpins the cross-functional embracing of robotics and prepares partner organisations for 2023 scaling. Central to the program are numerous ANYmal X trial deployments at customer facilities. The program includes workshops, operational safety training, security, and standard operating procedures, as well as priority access to 2023 ANYmal X production deliveries. "Our offshore and onshore assets require Excertification in certain areas. Robots moving in these areas would therefore need to be certified. For this reason, we are taking part in the ANYmal X onboarding program,” Anders Røyrøy, Principal Researcher Automation, Equinor. Global energy company PETRONAS has been spearheading the integration of autonomous, legged Ex-certified robots with the needs of the oil and gas industry by partnering with ANYbotics to co-develop ANYmal X since 2019. Additionally, several global operators have already signed up for the ANYmal X early adopters program , including Equinor, the Norwegian-based energy company, present in 30 countries, Petrobras, the Brazilian-based, global Oil & Gas producer operating 67 platforms, Woodside, the leading Australian-based natural gas producer, and Shell, the London-based global group of energy and petrochemical companies. “As Petrobras offshore platforms are large and complex assets, we need detailed and up-to-date information to keep a proper maintenance plan. ANYmal X can be an autonomous plant surveyor, an on-demand inspector and an important tool to respond to safety incidents,” Gustavo Levin, R&D Manager, Petrobras. Partners define ANYmal X’s mission tasks together with ANYbotics. Tasks include visual inspections and automated readouts of analog instruments such as gauges, liquid level, and lever positions, advanced thermography and vibration analysis of equipment, as well as 3d scanning of the infrastructure. In addition, ANYmal X is equipped with gas detection sensors to monitor the presence of Methane, Carbon Monoxide, Hydrogen Sulfide, and several other gasses. ANYmal X integrates as an end-toend solution through its software API with asset management software and digital twin platforms such as Cognite Data Fusion (watch demo) and Woodside Fuse for automated reporting.

ANYmal X — A Remarkable Engineering Achievement Until now, Ex-certified robots were bulky, slow, and lacked the mobility required to navigate the complex, multi-level nature of industrial facilities. The ANYbotics team developed ANYmal X with identical performance, functionality, speed, and mobility to that of ANYmal (Gen. D), their leading non-Ex inspection robot. ANYmal X is powered by AI and approved according to the IECEx and ATEX certification standards for usage in Zone

A world first, resulting from years of research, ANYmal X is IECEx and ATEX certified for use in potentially explosive environments. YouTube video: https://youtu.be/wOWa8oQ7L2Q

1 explosive atmospheres. The challenge of packing all inspection capabilities and performance into an Ex-proof robot system was a serious undertaking and required ANYbotics to completely rethink how they develop robots. “Having ANYmal X Ex-certified up to Zone 1 will really enable us to bring the robot very close to our process area, and that’s where you create value,” Iskandar Al-Thani Mahmood, Manager (Robotics), PETRONAS. For safe usage in hazardous and potentially explosive environments, all systems need protection against any gas ignition. Robots work with motors, electronics, batteries, and in ANYmal X’s case, self-contained systems. Temperature control therefore requires complex thermal management. No suitable components exist yet, so ANYbotics developed the necessary high-performance components for their advanced thermal management system. In addition, the ANYmal X drivetrain needed multiple-redundancy protection. Such systems are not typically found in robots, so the team effectively re-engineered standard heavy machinery protocols to meet their weight, mobility, and Ex-requirements. All optics and sensors are fully functional and simultaneously, totally protected, impact-resistant, and highly ruggedised. This means ANYmal X can inspect and navigate autonomously in Ex-conditions. Furthermore, their latest next-generation controller makes operating ANYmal X easy and intuitive. The control software is tablet agnostic, which means that operators can use their existing industrial Ex-rated tablets.

“Integrating autonomous robots into Oil & Gas and Chemical workforces is now not only possible, but effortless,” Mario Mauerer, CTO Hardware, ANYbotics.

Learn about Automating Routine Inspections in the Oil & Gas and Chemicals Industries To support significant early interest in ANYmal X, ANYbotics is hosting a dedicated webinar for the Oil & Gas and Chemicals industries in April. The webinar will cover current technologies, the impact of automating routine inspections in the Oil & Gas and Chemicals industries and deploying ANYmal X in potentially explosive environments. In addition, ANYbotics will lead an interactive discussion with early adopters and leading Oil & Gas and Chemicals operators regarding their automated robotic inspection experiences and insights. The webinar is titled “Robotic Inspection in the Oil & Gas and Chemicals Industries” and registration information is available online at www.anybotics. com/webinar-sign-up-roboticinspection-in-oil-gas-and-chemicalsindustries/

INNOVATION & TECHNOLOGY SPONSORED BY

The UK’s largest innovation funding consultancy Our expert teams work in close partnership with thousands of businesses each year to maximise the financial benefit they receive from R&D Tax Credits, Grants, and other innovation funding schemes. In the past year alone, we have helped our clients successfully claim more than £200m in tax relief to support their future growth.

www.leyton.com

Re-Gen Robotics

Disruptive innovation in the oil tank cleaning sector Fintan Duffy, Managing Director of Re-Gen Robotics discusses how innovation and disruption are the defining features of his business model, and how they are critical to his company’s mission. As agents of change, we mean to disrupt the sector to offer a safer, better quality, new value offering to the tank cleaning sector. The stages in the cycle of disruption affirm that; the newcomer develops a better system; the industry ignores the newcomer; brand recognition grows; the industry bullies newcomer; the industry adopts and improves; consumers reap benefits. It can be incredibly difficult to launch innovative products to corporations because middle managers are often resistant to change. They fear they have more to lose in making a bad decision than they have to gain by making a The good one. However, Re-Gen Robotics is an outlier, our products and service yield such sustainable differentiation that we can’t be ignored.

Prior to launching our new 100 per cent ‘No Man Entry’ technology, the only tank cleaning option available to oil and gas terminal operators was to send personnel inside colossal fuel tanks with highly explosive atmospheres, using breathing apparatus and chemical suits. Despite the necessary safety precautions and confined spaced entry procedures enforced, accidents and fatalities were still commonplace due to human error and industry apathy.

That was until Re-Gen Robotics launched our Zone 0, EX certified, remote controlled, 100% ‘No Man Entry’ robotic tank cleaning company to the market. The fully submersible robots are designed to operate in the most inhospitable environments and with specialised access cranes, remote camera systems and engineering expertise, any size or shape of oil, gas or chemical tank can be cleaned. Our patented tank cleaning service is transforming safety within the tank cleaning

Shell has committed to end manned tank cleaning across its operations by the end of 2022, with other oil majors committing to end it by 2025.

Our transformational technology delivers entirely new scale, reliability and flexibility at a cost that upends the old industry model. What we have created is a truly reimagined product and service that makes tank cleaning inconceivably better than anything that has gone before.

fully submersible robots are designed to operate in the most inhospitable environments

Companies in the tank cleaning sector have rarely innovated, competitors haven’t seemed to recognise that the disruption cycle is perpetually turning, because until now, it has turned so slowly.

www.ogv.energy I April 2022

industry and is adding value to our clients’ reputations and bottom line.

The market has been redefined and is waking up to the capabilities of our new technology and service. We have gradually built a major position in the mainstream tank cleaning sector as it in turn, makes a seismic shift in attitude towards safety.

It has taken hard work and perseverance to get Re-Gen Robotics’ offering over the line, challenging the industry mindset with discourse, onsite demonstrations and by engaging with likeminded customers keen to enhance their onsite safety.

So far Re-Gen Robotics has eliminated 11,000+ hours of confined space entry cleaning in oil and gas tanks. Over 40 tanks consisting of white oil, black oil and distillate tanks in gas plants have been cleaned and we have completed the first worldwide, 100% no man entry tank cleans for oil majors such as Shell, P66, Valero and Vermilion, among others. As the sole, authorised operator of 100% no man entry tank cleaning technology in the UK, we are gathering priceless on the ground intelligence, that gives us the ability to detect and understand clients’ requisites, the willingness to engage in substantial and transformational innovation, and the agility to capitalise on opportunities when they arise.

Now that they have a trusted no man entry cleaning service they can rely on, the oil majors have adopted this method as their only preference for tank cleaning, it now sits at the core of their safety strategy.

Our teams’ greatest skill set is their ability to translate new intelligence into working technology at pace, far swifter than any competitor could ever keep up with. We are constantly improving our products and service and growing aggressively with acute focus upon our sector.

By replacing confined space crews, they are seeing clear advantages for their terminals; fixed costs, reduced paperwork and permits (Re-Gen Robotics is classed as a medium risk contractor) and no requirement for capital outlay or standby rescue teams.

Nothing is final, nothing is permanent, you can’t stop the wheels of change. The most important element of our business model is having a coherent viewpoint about the forces at work and ensuring we have the capability to modify our plan, if necessary.

INNOVATION & TECH SPONSORED BY

INNOVATION & TECHNOLOGY

Stena Drilling

Developing ideas through an innovative culture PEOPLE The company’s innovation culture begins with highly skilled teams both on and offshore. Subject Matter Experts are provided opportunities to develop ‘skills for the future’ through comprehensive training and competency programmes. In turn, this knowledge and experience is used to further improve the business, which has a positive impact on the delivery of wells for Clients. Building an innovative culture in an organisation is key to long-term sustainable success. It provides the organisation the ability to internally generate ideas, and then turn those ideas into solutions that add value. In an offshore drilling environment, an innovative culture benefits the drilling contractor and the operator through improved HS&E and operational performance.

Those involved directly with processes are the ones who have the deepest understanding of the challenges and problems encountered during performance. By allowing employees the space and opportunity to consider these challenges, innovative solutions are developed. Stena Drilling encourages this type of questioning and creativity, and because of this it is clear within the organisation that everyone feels that change is possible. Regular and proactive communication to all employees that innovations Stena Drilling can come from anywhere and, is driven by three more importantly, anyone in the organisation nurtures this core values; Care, innovative culture. The mindset Innovation & within Stena Drilling is ‘if someone comes up with a good Performance idea - why wouldn't it work and how can the barriers be reduced?’

Stena Drilling, an ultra-deepwater offshore drilling contractor with a global footprint, is driven by three core values; Care, Innovation & Performance. Innovation is in Stena Drilling’s DNA, and the development of an innovative culture means that there is a constant generation of ideas within the organisation, with employees always tasked with considering how processes can be improved. These ideas can be small tweaks to critical path operations offshore driven by front line employees, but also large-scale capital investments in new technologies that drive the company forward as a leader in offshore industry. Stena Drilling understand that innovation stems from People, Process & Technology working together harmoniously, and over the course of a number of years has developed a process of Ideate, Implement, Test, Deploy and Repeat to nurture innovation.

PROCESS With a proactive innovative culture developed, another natural barrier to innovation is ineffective process. Recognising this, Stena Drilling have developed an innovation process designed to leverage the unique core competencies of our onshore and offshore teams. Emphasis is placed on innovations being a cross departmental activity, to minimise silos across the organisation and encourage diversity of skills and thought. This allows for clear and rapid communication of innovative thinking within the organisation. When

a promising idea is developed, the use of an agile methodology enables Stena Drilling to rapidly spin up teams to work directly on the project to take the ideas from concept to reality in a short timeframe. The innovation process also caters to understanding long term strategic trends and market forces to help the organisation better understand what the guiding stars for Innovation should be. As an example, Stena Drilling recently embarked on a companywide process of envisioning the offshore drilling market in 2030. The project explored future trends in the energy sector, looking at how Stena Drilling’s current core competencies could be leveraged and pivoted to add value in a time of change and challenge. This framework for developing long term innovative thinking has helped to define the future strategic priorities of the organisation and understand how the company’s current internal innovation process can be geared towards this. A key element in the success of this project came from the involvement and engagement of a wide range of our employees. This allowed for greater diversity of thought, whilst ensuring greater ownership and empowerment to our employees for all future innovations.

TECHNOLOGY With mindset and process addressed, one of the final challenges for generation of innovative ideas is having a suitable platform for submission of ideas. At the heart of Stena Drilling’s innovation process is the innovation platform, which is open to all employees. Using a bespoke digital technology, individuals can share innovative ideas with a clear explanation as to what benefit this can provide to the company and end-client. The software platform ‘Nexus’ encapsulates the principles of innovation at Stena Drilling; allowing innovations to be input that can add value from anywhere and anyone in the organisation. The software, which is now available for purchase for external organisations due to its success internally, provides an easy platform for the submission of ideas from both onshore and offshore. When determining the value of innovation to the business, Stena Drilling look to three key drivers of success: improving safety, enhancing performance, and improving the service offering to clients. There are numerous innovations that have been successfully ideated, implemented, tested, and deployed that have delivered significant lasting value to the business. As would be expected, these innovations come in many shapes and sizes. Some are minor modifications, such as the modification of processes and equipment to remove personnel from dangerous (red zone) areas offshore, while others are more significant leading to significant capital investment and a change to Stena Drilling’s value offering to clients. Recent examples of these ‘company shifting’ ideas include increased investment in automated drilling technologies, the decision to become the leading deepwater Managed Pressure Drilling contractor and investment in digital twin technologies to further improve already impressive operational uptime performance. Ultimately however, each successful innovation cumulatively drives Stena Drilling to the forefront of technology in the Energy sector.

Innovation and technology are critical to future-proofing our assets. Stena Drilling continues to invest in R&D to improve services offered to our clients. In collaboration with governmental agencies and trusted partners inside and beyond the energy industry, we seek to better understand and develop distinct technologies. For more information visit www.stena-drilling.com

OUR DIGITAL INDUSTRY SPONSORED BY

Who is Sword? Lise Parker, Sword’s UK Data & AI Practice Lead has worked in the technology industry for more than 30 years. She is responsible for the ongoing development and delivery of data solutions that make a strategic difference to our customers in energy. Lise leads a team of certified data professionals and the practice operates in several business sectors throughout the UK.

www.sword-group.com

As the North Sea’s largest provider of digital services, Sword focuses on building solutions to the industry’s most critical business technology challenges by enabling our clients to capture, manage, and utilise data to make informed decisions. This is supported by technology adoption, people engagement, and modern ways of working to give confidence that the right decision is made every time.

Lise Parker

SIMPLIFYING HOW YOU USE DATA TODAY A Modern Data Platform The UKCS Data and Digital Maturity survey conducted in 2020 identified that “Data is the foundation of digital, governed, accessible and connected datasets provide the basis for digital to add value”. The study also identified that increased availability and access to data, improving the quality of data and broadening the level of insights from data were three of the top digital value drivers for the industry. ‘Data-driven’ is a term we hear every day, but what does it mean? All organisations in the energy industry use data to operate, but very few can use data as an accessible strategic asset and embed it within their culture to empower their business with its capabilities. Business leaders have a critical role in unlocking the potential for data in their business and investing not only in technology but also in people and skills. At Sword, we recognise this challenge and have been working with industries to develop a scalable and cost-efficient solution that enables a simplified path to deliver digital data insights at an enterprise level. Over the past 18 months, Sword’s customers have realised the value of increased operational performance and flexibility from new data products and services, consolidating financial reporting, daily production, emissions and POB in as little as eight weeks through the use of Modern Data Platforms. Our Modern Data Platform solution ‘Tillit’ makes data a trusted asset.

Our Tillit Modern Data Platform democratises, simplifies and automates data mining from multiple sources. It stores it securely making it readily available to the business to conduct data modelling and reporting with trend analysis, forecasting and predictive analysis across the enterprise environment. Even with today’s technology advancements, working with data requires domain experience and the ability to interpret business needs. Developing a modern data platform allows for business decision making at the same time as managing all principles of data governance. Having delivered multiple Modern Data Platform implementations, we understand that many organisations have vast data sources and this is a sizable challenge when striving to make data a trusted asset. Sword builds trust with our customers by being pragmatic, flexible, and offering assurance through our experience in planning and delivering analytics solutions.

A Modern Data Platform consists of carefully selected tools based on their competitive positioning and advanced capabilities for our customers’ data-driven programs. Sword continually assesses the technology landscape to select the best tools for the task at hand. We are a leading provider of cloud technology solutions and one of the few partners, able to successfully deliver a Modern Data Platform through Microsoft’s ‘cloud adoption framework’ in Azure Synapse, Power BI and Azure Purview.

We designed the Tillit framework to support our customers regardless of their level of data maturity. Whether our customers are in the initial phases of assessing or planning or ready to adopt an advanced program in data science it’s important to align to the strategic goals and vision of the organisation. Data-driven transformation is not technology out of the box and is never straightforward. Knowing what tools to use combined with domain expertise and technical excellence, underpinned by a proven framework simplifies the outcome with actionable insights and supports the journey to become a data-driven organisation. Do you have confidence in your data and the insights available to you? Being Data-driven maximises a combination of technology, processes and people for fact-based and experience-based decision making. Trusted data today is a necessity. Fulfilling the need for basic reporting should be at the forefront of every new project and not an afterthought. Putting data first is the only way a business will improve operationally, commercially, and gain a competitive advantage. Now is the time to make the simple decision in placing data at the top of your priorities.

www.ogv.energy I April 2022

For more information, visit www.sword-group.com

INNOVATION & TECHNOLOGY ANNUAL 2022

VROC AI VROC is an Industrial Big Data and Artificial Intelligence company. Our unique approach democratises data analytics and equips operators and engineers with real-time critical insights for increased reliability, safer worksites, predictive maintenance, and optimised processes. Our automated end-to-end AI pipeline is an enterprise solution enabling both data experts and SMEs to access their asset data, build and run AI models to target specific outcomes and receive automated insights and alerts without the need for programming or coding. VROC = intelligent insights for smarter decisions.

Company Details Website: www.vroc.ai Email: solutions@vroc.ai Tel: +44 7758 120495 Address: Provender House, 37 Waterloo Quay, Aberdeen, Scotland, AB11 5BS

Technology Development stage: Commercial Launch date: 2016

AUTOMATED AI DATA SOLUTIONS Scalable AI for tangible business value: • Reduce maintenance costs with AI predictive maintenance • Improve asset reliability and performance with optimisation insights • Reduce flaring and emissions • Avoid unplanned shutdowns • Empower remote teams with real time insights and alerts • Early interventions with easily identified root causes and contributing factors • Accurate time to failure predictions providing better planning of maintenance and spares • Holistic analysis of the asset detects contributions from seemingly un-connected processes • Modernise your data historian using VROC’s DataHub4.0 • Enterprise solution for the performance management of multiple assets with ease • Start generating business value in as little as four weeks

AI tools to empower your existing team: Engineers Discover when the next failure or undesirable event is likely to occur with your equipment or process. Receive alerts on potential upcoming failures or changes in asset behaviour, allowing you to investigate, plan and prioritise maintenance and manage budgets. Without coding or programming experience, engineers can easily produce AI models that match their objectives, and customise dashboards to monitor equipment status, not only today, but into the future. At VROC, we understand that for Engineers it’s not about the data or the technology, it’s about generating accurate insights to help improve day-to-day business and technical decisions and outcomes.

Data Scientists

INNOVATION &

TECHNOLOGY

IN ENERGY ANNUAL

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Instead of spending enormous amounts of time wrangling and manipulating data, and then struggling to productionise models, VROC’s platform with its inbuilt AutoML and MLOps features, automates the end-to-end AI pipeline. Our scalable pipeline allows data scientists to put large-scale models into production, enabling them to focus their time on highly complex business challenges and tailored solutions, which will deliver the greatest business value.

IT and Data Engineers Managing legacy servers, historians and databases is a complex job with many stakeholders. Ensuring data integrity and quality is challenging even with the largest teams. VROC’s distributed historian, DataHub4.0, uses a modern microservices approach, making it fast, scalable, and reliable, so you can meet the requirements of your stakeholders while reducing your overhead costs. With a modern approach to your industrial big data storage needs, you can help democratise the use of data within your organisation and scale your digital transformation.

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Floating Wind – why delivery requires a balanced mix of ambition and pragmatism The UK’s targets for offshore wind expansion are ambitious and exciting. Installed offshore wind capacity targets of 40GW by 2030 and up to 125GW by 2050 are a cornerstone of the country’s journey to a Net-Zero carbon economy. If the UK is to achieve these goals and in so doing reach the stated objective of 60% UK content, then we must build out a manufacturing and logistics infrastructure at a national scale well beyond anything previously seen, even in the heady days leading up to peak oil. The speed with which floating offshore wind has become a major element within future capacity plans has come as a surprise to many. It is only a few years since the consensus view at conferences was that our industry had much left to do to create a mature and competitive indigenous supply chain for fixed wind. Only then, they thought, with lessons learned, disruptive technologies proven and economies of scale delivered for fixed wind, could industry realistically hope to deliver floating wind at an acceptable price per MW/Hour. Today, conference speakers talk openly and with conviction about floating wind deployments of over 100 foundations per project being delivered with the next 10 years. A sector still currently progressing demonstrator and early-stage projects is voicing ambitions to assemble floating foundation at a rate of 2 – 4

units a month. The market potential is undeniable and one only needs to look at the recent ScotWind licensing round where 15GW of an allocated 25GW are based on floating wind developments. There is broad agreement that this and other initiatives such as INTOG and developments in the Celtic Sea will require the installation of between 1000 – 1500 units making the need for port infrastructure development for floating wind increasingly urgent. It is unlikely that 60% local content will become a mandated requirement so the infrastructure and manufacturing capability our industry develops must be competitive, viable and commercially sustainable in the long-term. Our UK ports sit at the very heart of this investment and are vital to the successful development of our industry supply chain and the UK’s delivery on energy policy. This is the third toll of the bell for the UK supply chain in terms of wind energy development. Through the initial introduction of onshore wind right up to today’s major offshore wind developments the UK supply chain has mainly lost out to overseas manufacturers offering lower costs. Developers have been heavily criticised for buying abroad but the reality is that it is a choice driven by necessity. A highly competitive CfD strike price and an absence of UK manufacturing capability has left little option but for developers and their main EPCI contractors to look overseas. Floating wind is thought by many as the “last chance saloon” for a long-term renaissance in UK manufacturing and few would disagree. With one chance remaining and high stakes to play for our industry must proceed with care, mindful of the sensitivities which will determine our success or failure in maximising the opportunities that lie ahead.

Collaboration

Steve Chrisholm - Director of Operations and Innovation*

www.ogv.energy I April 2022

Collaboration – Will be key to the mature and considered build out of infrastructure but needs a sea change in thinking. The current culture, generated by a highly competitive CfD process, has permeated down through the layers of supply chain. It is not conducive to the early and

open collaborative discussions on resource sharing that are the hallmark of industries with greater maturity. The larger commercial floating wind projects will be too big for one port to accommodate and will need a group of ports to work together to provide the quayside space and laydown areas needed for manufacture, assembly and load out. Much emphasis is placed on the structural foundations and WTG’s (wind turbine generators) but the reality is that the mooring systems will also require a lot of space for marshalling and logistics. A culture of collaboration is needed that starts with developers at the earliest stages of Concept and FEED and then cascades out through the supply chain. Ports cannot be all things to all people and must pick their niche as best fits their location, natural attributes and development potential.

Completion & Diversity Not all ports will be created equal and nor should they be, for there needs to be diversity in the supply chain to ensure investment creates the maximum breadth of capability. Whilst we need capacity and capability, we should take care that we create a healthy level of competitive tension but not at the risk of oversupply. No-one wants or can afford to see new facilities lying idle a few years from now through lack of contracts because too many businesses chased after the same market segment. The line between a buoyant market segment and one which is oversupplied and engaged in a commoditised race to the bottom on pricing is a fine one and to be avoided at all cost. Through the balanced approach described above it is expected that we will see a range of port offerings. Some will achieve Freeport status or equivalent and be the nucleus of Superhubs accommodating manufacture and assembly with a cluster of related businesses co-located on site. Others in strategic locations will develop value propositions best suited to their location and attributes focusing on foundation or WTG assembly and some level of localised manufacturing. O&M capability will likely be developed amongst smaller ports without the deeper water depths and extensive land mass essential for manufacture and assembly. If this balance can be achieved then the message is clear, there is enough work out there for everyone.

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"Perhaps it time to talk less about being there and more about the development of the plans and strategies that will get us there." Steve Chrisholm - Director of Operations and Innovation*

Innovation When it comes to manufacturing and assembly UK businesses will struggle to compete with areas of the world enjoying lower labour costs and more relaxed working regulations. Where the UK can and must compete is through innovation. By developing new processes and techniques and being first to market we can reduce the CAPEX and OPEX costs of floating offshore wind and seek to drive down cost on a year-on-year basis. Innovation must not be solely restricted to metalworking and allied trades and we must encourage new thinking in the areas of project controls, documentation and production planning. In this way we can develop healthy businesses with long term sustainability that create and sustain well paid jobs. Industry should not expect any subsidies or premiums for UK content for such a path is a slippery slope towards unsustainability. We must compete on an open market because then we can then look beyond UK projects to the exploitation of export opportunities around the world, akin to those already enjoyed through the exploitation of technical excellence in oil and gas. Equally we must accept that to make the project numbers work financially, there is always likely to be a proportion of components for UK projects which will be sourced overseas. Even these will create valuable employment in assembly and ongoing operations and maintenance.

Pace of Development Cannot be unrealistically ambitious. We are barely beyond the point of early-stage projects such as Kincardine and Hywind, both highly successful and a credit to the innovators who delivered them, but already we are talking about floating

The Port of Nigg - East Quay Expansion

offshore wind projects of 3GW being built by the end of the decade. There must be a suitable level of pragmatism to balance out the level of ambition that is naturally produced by the scale of the opportunity. Industry will require to take a staged approach. Ports need time to clear and prepare further land and to build additional quayside. The factories and assembly businesses that base themselves in port will need time to be constructed and to ramp up to peak efficiency, sometimes as much as three years from opening. Perhaps it time to talk less about being there and more about the development of the plans and strategies that will get us there.

Equipment Standardisation Equipment Standardisation – There will come a point where industry considers that getting industrial manufacturing and assembly to the required scale is being held back by the constant emergence of competing foundation designs and the ongoing drive towards always bigger and better turbines. The fact is that there are just too many foundation designs, from the highly credible and cost effective to the not so. There quickly needs to be a process of technical and commercially driven natural selection that sees choice narrowed down to a limited number of options so that optimised procedures and processes for serial production can be developed, adopted and then continuously improved through application. The desire for increased power generation per turbine is well understood but given the interaction of forces between WTG and foundation such development brings an ongoing process of structural analysis and validation, all of which prevents industry from locking on to a particular solution and doubling down on serial delivery. Would it get more GW installed faster if industry adopted a 15MW design and placed a greater number of them as standardised units rather than chasing for new 18, 20 and greater MW devices? For WTG OEM’s and foundation designers the desire to be market leading is understandable but maybe now is the time to pick winners and consolidate around preferred solutions. In summary, let’s develop a ports infrastructure that has the optimum blend of competitive choice and diversity of goods and services to balance supply and demand whilst ensuring any one vertical doesn’t become too crowded for long term sustainability. Thereafter, if as an industry we learn to collaborate, position ourselves and stay at the forefront of innovation in delivery whilst standardising around a limited choice of best-in-class technical solutions, we should be well placed to reap a full harvest from the unique opportunity presented to us by floating offshore wind.

*The opinions shared in this article are the Author’s own and do not necessarily reflect the views and opinions of the Global Energy Group business.

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Baker Hughes awarded contract for Plaquemines LNG project

Infinity has been a five-time winner at the British Accountancy Awards and has been a three-time finalist at the Scottish Accountancy Awards in recent times.

Baker Hughes manufactures, tests, and transports the pre-assembled and fully integrated modular turbomachinery units for Venture Global LNG at its manufacturing and assembly facilities in Italy. As part of the scope, Baker Hughes will also provide field services to assist in commissioning of the supplied equipment. The order builds on an award from 4Q21 for Baker Hughes to provide power generation and electrical distribution equipment for the comprehensive power island system of Venture Global LNG’s Plaquemines LNG project.

Baker Hughes has been awarded a contract and granted notice to proceed by Venture Global LNG to provide an LNG system for the first phase of the Plaquemines LNG project in Louisiana, US. The highly-efficient liquefaction train system (LTS) supplied by Baker Hughes is modularised, helping to lower construction and operational costs with a ‘plug and play’ approach that enables faster installation.

“We are delighted to continue our strong collaboration with Venture Global LNG. The Plaquemines LNG project is another great example of our extensive experience with modular LNG to provide fully integrated compression and power solutions,” said Rod Christie, Executive Vice President of Turbomachinery & Process Solutions at Baker Hughes. “As an energy technology company, Baker Hughes’ role is to provide the most efficient and lower carbon technology solutions to meet our customers specific needs, and LNG is a critical part of the energy future. We see a new LNG cycle emerging and expect demand will remain robust in the coming years.”

Saipem, awarded an offshore drilling contract by Aker BP worth 325 million USD enhanced mooring capabilities. Scarabeo 8 meets the highest standards of the most stringent rules and regulations, and it has proven track records in working with most recognised Oil Companies in the challenging North Sea environment, from West Norway to the Barents Sea.

Saipem has been awarded a contract by Aker BP for a drilling campaign offshore Norway. The operations are expected to start from the end of Q4 2022, upon termination of the works in which Scarabeo 8 is currently engaged. Scarabeo 8 is a Saipem semisubmersible drilling rig able to work in harsh environments. It is a dual derrick deep water unit with a dynamic positioning system and with

www.ogv.energy I April 2022

The contract duration is three years for an approximate value of 325 million dollars. The contract also includes the option of two oneyear extensions and encompasses potential upsides among which a performance bonus scheme and a mechanism of rate adjustment to market rates from the third year onward. Saipem previously worked successfully with Aker BP in 2018. This new long-term contract further consolidates the collaboration with the Norwegian company, also including the use of innovative solutions to deliver increasingly efficient, safe and environmentally focused operations.

Petrofac secures North Sea contract extension with Spirit Energy Petrofac, a leading international service provider to the energy industry, has been awarded a two-year Operations and Late Life Asset Support contract extension with Spirit Energy, building on its decade-long relationship with the Operator. The contract includes the provision of Operations and Maintenance support for Spirit Energy’s York platform in the Southern North Sea, and Engineering, Project, and Consultancy services for all of the Operator’s North Sea assets. Petrofac has supported Spirit Energy’s assets since 2012. From 2018 to 2019, it took part in preparation work for the decommissioning of the Operator’s Audrey and Ensign platforms. Nick Shorten, Chief Operating Officer for Petrofac’s Asset Solutions business, said: “The renewal of this key contract is demonstrative of the successful working relationship our respective teams have developed over the past ten years and the value Petrofac has been able to add in the late life operations phase. Our support of Spirit’s recent life extension project on York, which has increased production by three to four years, is a great example of this. We look forward to continuing in this vein.”

Subsea 7 awarded substantial contract Subsea 7 announced today the award of a substantial contract that will be recorded in the backlog of our Subsea and Conventional business unit in the first quarter of 2022. The award, made to a consortium including Subsea 7, comprises engineering, procurement, construction, and installation (EPCI) of offshore facilities, subsea pipelines, and associated infrastructure. Project management and engineering will commence immediately, and offshore activities are scheduled to commence in Q3 2024. No further details are disclosed at this time due to contractual obligations.

CONTRACT AWARDS AGR engaged by Emperor Energy to progress permitting of Judith-2 well off Australia AGR’s Well Management division has secured a new contract with Emperor Energy Limited (‘Emperor’) on its Judith-2 appraisal well off the coast of Victoria, Australia. AGR’s Well Management experts in Perth will progress the preparation and submission of necessary applications to the Australian National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) to gain approval to drill the Judith-2 appraisal. The well is planned for the Judith Gas Field located in permit Vic/P47 in the Gippsland Basin, 40km offshore from the Orbost gas plant. Emperor holds 100% in the permit. AGR’s initial work scope will include preparation of an Environment Plan for drilling the Judith-2 appraisal well, preparation of an Environment Plan for geological and geophysical testing of the Judith-2 wellsite to accommodate a jackup drill rig, and completion of the necessary engineering and environmental studies to facilitate the environmental plans. It will also include overall project management and engineering to further progress the basis of design of the drilling programme. Once the necessary regulatory approvals are in place, AGR will provide final well design, procurement, contracting and drilling operational services for the Judith-2 well. The contract award follows Emperor’s very positive results achieved from new 3D seismic

North Star wins £100 million emergency vessel support work in UKCS North Star has been awarded a raft of new contracts totalling more than £100 million to support new and existing clients in the UK Continental Shelf with its fast-response emergency fleet, purpose built to protect personnel working on offshore oil and gas platforms. These significant new wins are a combination of new clients and new asset locations, as well as continuations secured with operators the 135-year-old maritime company has worked with since the 1980s. With additional year charter options, this marks North Star’s most sizeable emergency response rescue vessel (ERRV) order book in recent years. The company is the North Sea’s largest emergency response vessel operator with 41 ERRVs in its overarching fleet which are currently assigned to support 50 offshore oil and gas installations in the region, delivering reliable, uninterrupted, around the clock assistance, 365 days a year.

across the field and Amplitude Versus Offset (AVO) analysis indicating the presence of gas conforming to structural closure in the primary objective Judith and Longtom reservoir sands. An additional play has also been identified from AVO analysis in Kipper and Golden Beach sands (tied back to the nearby Kipper-1 well), with the potential for an updip extension into Vic/P47 of the producing Kipper Gas Field.

TechnipFMC scores FEED contract in Norway

The proposed Judith-2 appraisal well will test the primary Judith and Longtom sands as well as test the new Kipper and Golden Beach sand play, when drilled in 2023. Andy Perchard, VP APAC of AGR, (pictured) said “We are delighted to be continuing our relationship with Emperor Energy. The AVO results have further demonstrated the high quality prospect that the Judith-2 well represents. We look forward to working closely with Emperor as we progress towards a 2023 drilling date. The contract with Emperor builds on what has been a fantastic start to the year with AGR Well Management securing multiple projects across the globe from Brazil to the Gippsland Basin. The breadth of services provided to our clients ranges from regulatory support, peer reviews, CCS expertise to the provision of Well Project Management for a number of upcoming drilling projects. Andy commented further, “It is fantastic to be involved in so many projects globally and also to be able to offer the full spectrum of AGR’s services to our clients. It genuinely shows our ability to manage any scope of work and is a testament to the depth and breadth of our offering at AGR. This is what separates AGR from its competitors, not only are we the world’s largest independent Well Management provider but our business has also evolved over the years to provide a true engineering consultancy to our clients in support of their needs.”

Offshore engineering giant TechnipFMC has signed a deal with OMV Norge for the subsea production system (SPS & SURF) front-end engineering and design (FEED) for the Iris Hades field in the Norwegian Sea. The contract is worth around NOK30m ($3.4m) and includes an option for engineering, procurement, construction and installation (EPCI). “This contract award is an important milestone for the project. Our objective is to submit the plan for development and operation to the authorities at the end of 2022”, said Knut Mauseth, general manager for OMV in Norway. The Iris Hades field is located close to the Morvin field. The development concept for the gas/condensate discovery is a four-slots subsea template with three producing wells tied back to the Equinor-operated Åsgard B platform. OMV is the operator with 30% working interest. The partners are Equinor 40%, DNO Norge 20% and Spirit Energy 10%.

With strategic locations in Aberdeen, Newcastle and Lowestoft, the business employs 1,400 personnel across the UK, including 140 deck and engineering cadets enrolled in its three-year training programme, now in its 26th year. It is also a key member of the UKCS ERRV Association. To enhance its ongoing growth, North Star has undertaken an in-depth sustainability study across its existing 47-strong offshore infrastructure support vessel fleet to help decarbonise its tonnage, enhance operational performance, and meet its net-zero 2040 target. It has also invested a six-figure sum in the fleet management software tool Sertica as part of its digitisation strategy to streamline the business and support further efficiencies. Matthew Gordon, North Star CEO said: “Winning these significant ERRV contracts worth £100 million demonstrates the industry’s ongoing confidence in our highly effective and reliable fleet which continues to provide a safe place in case of an incident for the thousands of people working out at sea on oil and gas assets every hour of every day, solidly across the year.

“North Star has supported the offshore energy sector for the past 40 years and we have an unrivalled expertise and high quality ERRV fleet. I’m proud to say that we have never left any client’s offshore workforce unsupported, ensuring there is always a vessel on standby to enable any crew changes, help to replenish stores on the installation, or support regular maintenance. “The North Sea is still a very competitive landscape, and we recognise the need for continual investment in our fleet and services to ensure we deliver value and efficiencies to remain market leading. As part of this, we have looked to optimise our operations with a new maritime fleet management system and begun the process of decarbonising our entire fleet.”

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www.normanbroadbent.com We have a simple and straightforward objective: to help our clients manage and successfully drive change, mitigate risk, grow, and succeed.

John Begley John is a Managing Director for Norman Broadbent Group and leads our industrial practice. He has over 20 years’ experience across Executive Search, Research & Insight, and Leadership Advisory (Leadership Development, Psychometric Evaluation, and Leadership Assessment). During his career, John has worked with business leadership teams across the UK, Europe, Middle East, US and Asia Apcific, primarily in the Industrials space. John works closely with companies of all sizes and ownership structures including pre-revenue startups, private equity-backed, privately and publicly owned, Aim listed, and International PLCs.

Ana Fonseca Nordang

2 Devyani Vaishampayan

Norman Broadbent welcome Non-Executive Director & Audit Chair

Norman Broadbent is delighted to welcome Devyani Vaishampayan to the team. Devyani is joining us as a Non-Executive Director & Audit Chair, and brings a wealth of experience around leadership, culture, and talent management. She is currently CEO of the HR TECH partnership, which runs the Human Capital Digital Innovation Hub, focussing on producing Digital/AI solutions to human capital challenges. She is also a Non-Executive Director and REMCO member with The Law Society and the British Quality Foundation. Prior to this, Devyani has been an international and multi-sector FTSE 30 Group CHRO and board member effectively leading large, diverse, and multi-billion dollar complex organisations through transformational change. She has held global roles in successful organisations across various industries such as Citibank, AT&T, British Gas, Rolls Royce, and BSI. Having lived and worked in China, Singapore, and Europe (and managed teams in the Americas & Middle East) she is very international in her outlook. Devyani is considered a thought leader around the Future of Work, Inclusive Leadership, Digitisation of the workforce and is a well-known speaker at business events. She has received multiple international awards for her work.

www.ogv.energy I April 2022

Equinor announces Senior Vice President of Renewables

Equinor has promoted Ana Fonseca Nordang to the role of senior vice president, renewables. Nordang transfers to the new role, having been executive vice president, people & organisation since 1 June 2021. She will report directly to Equinor executive vice president for renewables, Pål Eitrheim. Fonseca Nordang joined Equinor in 2009 and has held various leadership roles across the company.

Sarah Walers

AFBE-UK announces tenth member of advisory board

Aksel Stenerud will replace Ana Fonseca Nordang as executive vice president, people & organisation from 1 March. Aksel Stenerud joined Equinor in 2008 and holds the position as Vice President for global employee relations in the corporate People and Organisation staff function. Aksel has strong background from leading the People and Organisation function in Development and Production International (201821) and Development and Production Norway (2014-18). Before his international career in Human Relations, Stenerud was an officer in the Royal Norwegian Airforce and graduated from the Norwegian Air Force Academy in 1994.

KCA Deutag announce Senior Vice President HR & Shared Services

Sarah Walers joins KCA Deutag as SVP HR and Shared Services. Sarah has over 25 years strategic HR & Organisational Development experience within Oil & Gas, Retail and the National Health Service industries. Sarah joins KCA Deutag from Cenovus Energy.

Chris Shanaghey

John Begley, Managing DIrector

Alex Aclimandos

Gulf Marine Services (GMS) appoints Alex Aclimandos as Chief Financial Officer

Gulf Marine Services (GMS), has announced the appointment of Alex Aclimandos as its Chief Financial Officer. GMS is a company providing jack-up service vessels for the offshore oil, gas, and renewables industries Mr Aclimandos has a wealth of progressive international financial management experience gained in over 27 years with first‐ tier companies viz. Procter & Gamble, ABB, and Alvarez, and Marsal.

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Between 2011 and 2020 Tim Dodson was executive vice president for exploration at Norwegian oil and gas giant Equinor. He took up the role of vice president strategy execution in global strategy and business development but left the state-owned oil company last year.

Sinead Gorman

Shell announces the appointment of Sinead Gorman as CFO

Sinead Gorman will replace Jessica Uhl, effective 1st April 2022. She will become a member of both Shell’s Executive Committee and Board of Directors. Sinead is currently Executive Vice President, Finance in Shell’s global Upstream business. She started her career as a civil engineer before embarking on a finance career when she joined Shell in 1999. Since then, she has held several increasingly senior finance roles in all Shell’s major businesses, in Europe, North America and latterly globally. A British national, she will be based in London.

Mr Dodson has now been appointed as a director at North Sea player NEO Energy.

New European Offshore (NEO) Energy has appointed Tom Dodson to its board of directors

1 2 Paal Eikeseth

Aker Solution Appoints Paal Eikeseth as New EVP of EMM

To enhance the business, Paal Eikeseth has been appointed as executive vice president (EVP) of Aker Solutions’ Electrification, Maintenance and Modifications (EMM) business segment. In his new role, Eikeseth will be part of the company’s executive management team, reporting to CEO Kjetel Digre. Paula Harris

Oilfield services firm Hunting submits plans for nonexecutive director

Oilfield services firm Hunting has submitted plans for shareholder approval for Paula Harris, formerly the director of global stewardship at the oilfield giant, to join as a non-executive director. Ms Harris spent more than 33 years with Schlumberger before retiring in 2020. Hunting shareholders will vote during the annual general meeting on April 20. Educated as a petroleum engineer at Texas A&M, Ms Harris worked in offshore field operations before progressing into leadership roles in training, sales and ultimately environmental-social sustainability. Ms Harris is also senior vice president of community affairs for the Houston Astros. London and Houston-headquartered Hunting manufactures high-end downhole metal tools and components to extract oil and gas across a well’s lifecycle.

Based in Aberdeen, the company is making significant waves in the UK oil and gas sector and last year it completed its acquisition of ExxonMobil’s North Sea assets.

Geir Tungesvik

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Equinor annouced Geir Tungesvik as Senior VP for Project development in the Projects, Drilling and Procurement business area

Westwood Global Energy Group appoint Teresa Wilkie to its RigLogix team as Research Director

With over a decade of experience under her belt as an analyst and product manager in the energy industry, Teresa is returning to Westwood following a previous fouryear tenure working across the suite of rig intelligence services. Alongside her legacy with the Group, Teresa will also be bringing considerable expertise from her time at IHS Markit and Esgian (Bassoe Offshore), predominantly focused on the offshore rig market alongside several years’ experience tracking the subsea vessel and accommodation rig markets. The news comes at a time of significant talent acquisition for Westwood. With 11 new analyst hires made in the last six months alone in the UK and Singapore, Teresa’s appointment cements Westwood’s ambition to strengthen provisions across a range of its specialisms including Energy Transition, Offshore Energy Services, Northwest Europe, and Global Exploration & Appraisal. Terry Childs, Head of RigLogix, Westwood, said: “Teresa re-joins the RigLogix team at an exciting time, following the launch of the RigLogix Advanced upgrade options and Westwood’s continuing drive to support our clients with actionable energy transition intelligence. In her new enhanced role as Research Director of RigLogix, Teresa is going to be a key member of our team and brings a wealth of knowledge, experience and insight into the offshore rig market.”

From August to year-end 2020 Tungesvik was acting Executive Vice President for the then business area Technology, Projects development, Drilling and Well. Tungesvik joined the company in 1987 and is a very experienced leader from positions within the upstream business. He is educated a petroleum engineer from Norwegian University of Science and Technology.

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Teresa Wilkie

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Oil and gas companies, Ocyan and Petrobras sign a contract worth R$ 900 million sector, that is, Ocyan will act in the dismantling of subsea equipment. The contract between Ocyan and Petrobras is an important milestone for the oil and gas company, not only for the integration of Ocyan in a new segment, but also for the value of the contract signed with Petrobras, which totals R$ 900 million and will focus on the service of removing subsea equipment from three Petrobras platform ships.

Ocyan, formerly Odebrecht Óleo e Gás, will provide services to Petrobras for the subsea dismantling of platform-ship infrastructure Since 2018, Ocyan, formerly Odebrecht Oléo e Gás, has resumed negotiations with Petrobras. In 2021, the oil and gas companies reconnected through a contract worth tens of millions of reais. This year, Ocyan will start to integrate in the subsea decommissioning

The former Odebrecht Oil and Gas will provide services to Petrobras involving the removal of pipelines with vessels coupled to winches. After that, it is necessary to clean the waste ducts. In total, there are 275 km of pipelines and 20 thousand tons of infrastructure. After being cleaned and treated, the steel will be sold as scrap.

Through the contract signed with Petrobras, the former Odebrecht Óleo e Gás is in charge of the maintenance and operation of ships and platforms, and the chartering of which the company owns. There are currently five rigs, platforms on which oil wells are drilled and two platform ships.

According to the president of Ocyan, Roberto Bischoff, the contract between the oil and gas represents the resumption of Ocyan in the decommissioning market. “It was always important for us to come back. There are market niches and we believe that we can offer the best alternative for certain customer profiles, in the niches of independent and medium-sized oil producers”, explains Roberto Bischoff.

According to Exam, Ocyan will be in the subsea decommissioning sector. Therefore, the company will act in the dismantling of subsea equipment, such as platforms on the way to be retired and pipelines for ships.

The coming years should also be positive for Ocyan and for the oil and gas sector in Brazil, for the president. In Roberto's view, some factors show that the Petroleum will receive special attention.

Woodside and Santos pushed to disclose multibillion-dollar clean up ‘time bomb’ “Investors must demand greater transparency on when infrastructure will reach end of life and the major assumptions driving estimated provisions,” he said. Mr Gocher said the actual cost to decommission facilities in Europe’s North Sea was found to be 76 per cent higher than the estimated cost. Woodside and Santos face shareholder votes to reveal the cost to decommission their facilities as activists broaden their assault on the oil and gas industry beyond emissions and the warming climate. The Australasian Centre for Corporate Responsibility (ACCR) has filed shareholder resolutions with Australia’s two largest petroleum companies for them to disclose audited cost estimates to decommission each of their facilities. A 2021 federal government-backed study estimated the industry must spend $56 billion by 2050 to decommission assets in Australian waters, with half the work starting this decade. ACCR climate and environment director Dan Gocher said these costs were a “time bomb” for the industry.

www.ogv.energy I April 2022

Santos and Woodside record $US3.0 billion and $US2.1 billion respectively for decommissioning liabilities. Woodside’s exposure to decommissioning will increase significantly if its shareholders approve the purchase of BHP’s petroleum assets that include two ageing and sprawling assets: a 50 per cent stake in ExxonMobil’s Gippsland operation and an additional one-sixth share of the North West Shelf LNG project operated by Woodside. Santos also has significant obligations onshore from its decades of activity in the Cooper Basin and a share of declining oil production on WA’s Barrow Island. Its Bayu Undan platform in Timor Leste waters will likely cease production by 2023. Both producers will release their 2021 annual reports this week. Any revisions to

decommissioning obligations will be closely watched after a year when both the federal government made selling out of old assets more difficult and independent regulator NOPSEMA clamped down on continual delays to decommissioning. The ACCR has also filed resolutions requesting Woodside and Santos to cease any advocacy incompatible with limiting global warming to 1.5 degrees “including advocacy relating to the development of new oil and gas fields.” Meanwhile, Friends of the Earth-backed Market Forces has called on the companies to disclose how their capital spending aligns with global emissions reaching net-zero by 2050. In 2021, Santos sanctioned the $US3.6 billion Barossa development to supply its Darwin LNG plant and Woodside approved a $US12 billion project to develop the Scarborough gas field off WA and expand its Pluto LNG plant. Market Forces campaigner Will van de Pol said the companies’ expansion plans threaten to waste investor capital on projects that would be stranded by the transition to cleaner energy.

DECOMMISSIONING DOF Subsea scores multiple new contracts Norwegian engineering and marine services player DOF Subsea has secured multiple new contracts within renewables and oil & gas in the North Sea.

are decommissioning contracts, and DOF Subsea said it is planning to deploy multiple vessels in-field during the execution.

The Oslo-listed company said the projects, to be delivered in 2022, total more than 185 vessel days, excluding any optional work. Skandi Acergy, Skandi Constructor, Skandi Hera and selected third-party vessels will be utilised in the offshore execution phases.

DOF Subsea has also received several new frame agreements. One deal will see, DOF Subsea deliver continuous survey services for a renewables project in Taiwan throughout 2022. The company has also sealed a frame agreement with a major North Sea operator, unlocking access to DOF Subsea`s integrated services within the inspection, maintenance and repair, construction, SURF and decommissioning.

All awards include project management, engineering, procurement and logistics, which will be delivered by the company’s teams across Bergen and Aberdeen. Several of the awards

Global Maritime completes Marine Warranty Surveying Decommissioning Scope and bridges have been transported and loaded in at Able UK, Hartlepool where they will be dismantled for recycling. Robert Askins, London Operations Manager: “Global Maritime are delighted to achieve this significant milestone. Working collaboratively with the client to complete this complex decommissioning campaign safely and efficiently is a testament to our strong working relationship.”

Global Maritime recently completed the Marine Warranty (MWS) scope for decommissioning the LOGGS Complex in Southern North Sea.

The five bridge linked platforms were removed with Saipem vessel “S7000”. The operations were supported by the vessel “North Sea Giant”. All jackets, topsides

Global Maritime is a marine, offshore and engineering consultancy that specialises in marine warranty, dynamic positioning and engineering services. Known for innovation, practical experience, operational excellence and safety. Global Maritime has a proven track record in delivering the world’s most successful marine and offshore projects.

Veolia/Peterson to dismantle North Sea jacket for Allseas Lerwick Harbour in Shetland, northern Scotland, will host another North Sea decommissioning project. Allseas has commissioned the Veolia/ Peterson partnership to dismantle and recycle CNR International’s Ninian Northern platform jacket, which will be removed from the Ninian field in the UK northern North Sea. The 83-m (272-ft) tall steel jacket, weighing around 8,500 metric tons (9,370 tons), will be delivered by Allseas’ Pioneering Spirit next month. Recently Veolia/Peterson completed decommissioning of a 14,500-metric ton (15,983-ton) topside for the same platform, the largest handled to date at Lerwicks’ Dales Voe base, recycling over 98% of the materials. As with the topside, the jacket will be removed in a single lift and transferred ashore at the base from a barge. Decommissioning of the jacket should take around eight months to complete.

DECOMMISSIONING SPONSORED BY

In France, the government officially launched two tenders for the development of floating wind projects. Each project will have a capacity of 250 MW and they each include an option to be expanded by a further 500 MW. The winning bidders are scheduled to be selected in 2023 and both wind farms are expected to come online in 2030.

www.ogv.energy I April 2022

Westwood’s 2022-23 outlook assumes a $65/bbl Brent oil price Westwood’s 2022-23 outlook assumes a $65/bbl Brent oil price

Subsea Tree Awards

Subsea Tree Awards #XTs Subsea Tree Awards #XTs #XTs 2022 6 2022 6 2022 6 2021 2021 2021

65 65 65

87 87 87

123 123 123 Sanctioned Sanctioned Firm Sanctioned Firm Firm

175 175 175

37 37 37 Pre-Order Pre-Order Probable Pre-Order Probable Probable

FPS Throughput Additions by Year of Sanction FPS Throughput Additions by Year of Sanction kpoepd FPS Throughput Additions by Year of Sanction kpoepd kpoepd

2500 2500 2000 2500 2000 1500 2000 1500 1000 1500 1000 500 1000 500 0 500 0 0

LNG Gas LNG LNG Gas Gas

2019 2019 2019

2020 2020 2020

2021 2021 2021

2022 2022 2022

2023 2023 2023

Offshore O&G EPC Awards 2022-26 by E&P Offshore O&G EPC Awards 2022-26 by E&P $billions to be awarded Offshore O&G EPC Awards 2022-26 by E&P $billions to be awarded $billions to be awarded

30.5 19.6 14.2 14.0 12.5 12.3 11.1 10.0 30.5 19.6 14.2 14.0 12.5 12.3 11.1 10.0 30.5 19.6 14.2 14.0 12.5 12.3 11.1 10.0

8.6 8.6 8.6

7.4 7.4 7.4

123.2 123.2 123.2 Other Other Other

Dominating headlines were results from the recent New York Bight offshore wind auction round which generated a record-breaking US$4.37 billion in revenue for the US treasury. A total of 25 companies and consortiums had been pre-qualified by the US Bureau of Ocean Energy Management (BOEM) to participate in the auction, which took over three days and 64 bidding rounds. The winning bidders include a joint venture of RWE Renewables and National Grid, a joint venture of EnBW and TotalEnergies, a joint venture of Shell and EDF Renewables, Ocean Winds, Invenergy Wind Offshore and Mid-Atlantic Offshore Wind. The awarded lease areas will account for at least 5.6 GW of offshore wind capacity. $8,831 was paid on average per acre making this the most expensive offshore wind lease auction round in the US based on an average price per acre basis.

14.4 10.9 14.4 10.9 14.4 10.9 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2020 assumes 2021 a $65/bbl 2022 Brent2023 Westwood’s2019 2022-23 outlook oil price

BP BP

Since the last update, a total of 100 MW of capacity advanced into the EPCI stage, with FID taken on the 100 MW Hanlim development offshore South Korea. A total of 18 WinDS5500 5.5 MW turbines will be installed at this project, with the turbine supply contract already firmed up with Doosan Heavy Industries & Construction back in 2Q 2021.

41.5 41.5 41.5

64.9 64.9 64.9

Offshore Wind Update

43.0 43.0 43.0

TotalEnergies TotalEnergies TotalEnergies

A total of 62 drillships were under contract in February, and marketed utilisation increased to 79.3%, its highest mark since January 2020. Currently, there are 16 available marketed units, with another 17 units cold stacked. The drillship fleet did not register any attrition this month, but one newbuild unit, the Cobalt Explorer, was delivered. There were five new drillship fixtures for the month, four of which were in the US GoM. Those four deals averaged 360 days in duration and saw an average dayrate of $333,750. The fifth fixture was for the aforementioned Cobalt Explorer, which will work long-term for owner/operator TPAO offshore Turkey.

61.8 61.8 61.8

Chevron Chevron Chevron

Global semisubmersible (semi) total utilisation continued its decline since December last year, falling to 48.8% in February with 49 rigs contracted. The total semi fleet currently stands at 101, 18 of which are cold stacked. One semi was sold for scrap this month, the Noble Clyde Boudreaux, while Diamond Offshore’s Ocean Valor was sold for non-drilling use. A total of 1,730 days (4.7 rig years) contracts were awarded with an average dayrate of $262,400/day. The latter was a sharp improvement over January, when the average rate for new fixtures was $224,250.

Expected Expected Sanctioned Expected Sanctioned Sanctioned

80 80 70 70 70 60 60 60 50 50 50 40 40 40 30 30 30 20 20 20 10 10 10 0 0 0

QatarEnergy QatarEnergy QatarEnergy

The global jackup rig count declined by two rigs to 344 in February. Effective utilisation, which excludes cold stacked rigs, was 81.2%, continuing its run above 80%. The number of available, marketed jackups is at 80, while another 67 units are cold stacked. On the supply side, one jackup, Valaris 37, exited the global fleet. There were 13 new fixtures registered for the month with an average fixture rate of $79,964, slightly higher than the $75,000 average in January. The 13 new contracts in February accounted for a total of 2,491 drilling days (6.8 rig years) awarded.

$billions 80

ShellShell Shell

Offshore Rig Update

Offshore O&G EPC Awards Offshore O&G EPC Awards $billions Offshore O&G EPC Awards $billions

CNOOC CNOOC CNOOC

In Brazil, OneSubsea was awarded the contract to supply the subsea production systems for the development of Enauta’s Atlanta field, whilst Yinson signed a firm contract for the provision, operation and maintenance of the OSX-2 floating production, storage and offloading (FPSO) unit to be installed on the field. Following the completion of the FPSO EPC work scope, Yinson will have the option to exercise a two-year operation and maintenance (O&M) agreement or a 15-year time-charter agreement accompanied by an O&M agreement for the same duration. In China, Dongfang Cable announced it has won the bid to supply static umbilical for CNOOC’s Lingshui 25-1 gas development.

www.westwoodenergy.com

ExxonMobil ExxonMobil ExxonMobil

In a month dominated by global reaction to the war in Ukraine, Brent crude oil price has occasionally traded above $120/bbl, as uncertainty over possible supply disruption persists after the US ban the import of Russian oil following the invasion of Ukraine. Despite high oil prices during the period under review, engineering, procurement and construction (EPC) award activity has been somewhat muted, with announced EPC contract value totalling approximately US$400 million as of 17 March 2022. This brings the total announced EPC award value year-to-date to approximately US$10.9 billion. The key highlight for the period under review is the announced final investment decision (FID) on Eni’s Baleine field offshore Ivory Coast on a fast-track development timeline, five months after discovery. The field start-up is scheduled for late 2023, with Eni stating that the project will be the first development in Africa at net-zero emissions (Scope 1 and 2).

Westwood Global Energy Group are specialist providers of detailed market intelligence for the offshore energy sector, covering; offshore rigs, production facilities, subsea equipment, subsea services, offshore marine and offshore renewables and power.

Woodside Woodside Woodside

Field Development Update

PROVIDED BY

Equinor Equinor Equinor

STATS & ANALYTICS

Petrobras Petrobras Petrobras

Offshore Energy Services Dashboard February / March 2022 Offshore Rigs available from

RigLogix

Global Rig Count Jackups

RigLogix

Backlog Month-on-Month (Rig Years)

Semisubs

Drillships 17

March 1

592.3

93.4

117.0

February 1

614.2

92.6

117.2

490.7

Jackups

100.5

95.1

Semisubs

Drillships

344

Contracted

Available

Stacked

Regional Rig Count Month-on-Month (March vs February )

0.3

SE Asia

Latin America

-1.9

Mar-21

SE Asia

May-21

Jan-21

US GOM

Nov-20

NW Europe

Jul-20

Global

Sep-20

Mar-20

Arab Gulf

May-20

Latin America

-0.4

0.4

-4.3

Jan-20

SE Asia

-0.3

-0.5

Nov-19

US GOM

0.7

Jul-19

NW Europe

2.2

Sep-19

-0.4

-1.9

Global

85.00% 80.00% 75.00% 70.00% -1.3 -0.3 65.00% 60.00%

Global

Latin Arab Gulf America

NW Europe

US GOM

Arab Gulf

Global Rig Utilisation Total 85%

Effective 85%

75%

80%

70%

80%

75%

65%

70%

75%

60%

65%

70%

55%

60% 55%

50%

Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21 Jun-21 Aug-21 Oct-21 Dec-21 Feb-22

Feb-22

Oct-21

Dec-21

Aug-21

Jun-21

Apr-21

Feb-21

Oct-20

Dec-20

Jun-20

40% Aug-20

45%

40%

Feb-20

Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21 Jun-21 Aug-21 Oct-21 Dec-21 Feb-22

60%

50%

45%

Apr-20

65%

available from

WindLogix

Offshore WTG Awards (excl. Mainland China) #WTGs 2000

Expected

1800

Awarded

2% 4%

12%

1600

18%

1400

17%

Awarded by OEM

1200 1000

54%

Expected by Region

800

18%

600

25%

400 200 0 2019

2020

2021

2022

2023

Siemens Gamesa

Vestas

General Electric

Goldwind

Ming Yang

Other

STATS & ANALYTICS SPONSORED BY

West Europe North America Asia East Europe & FSU

46%

PEOPLE IN ENERGY SPONSORED BY

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PEOPLE IN ENERGY

NEIL BRADY

Energy Transition - Director, Worley Neil has worked on large engineering, procurement, and construction (EPC) projects alongside operation and maintenance (O&M) contracts for over 20 years. Neil joined Worley in 2017 as the Managing Director of Scopus (a Worley subsidiary), followed by moving into the role of Managing Director of Operations - Sweden. During Neil’s time in Sweden, he discovered his passion to drive the energy transition movement forward and is delighted to now take on the role of Energy Transition Director. Neil is focused on how Worley capitalise on the vast experience within the EPC and O&M business operations and transfer this experience into the wider energy transition, and how this can be used to achieve net-zero and deliver a more sustainable world.

How did you get into the energy sector and how long have you been working in it? Whilst I am delighted to be working within the energy sector, my career began within the legal industry. I then made the decision to go back to University at 27 and studied for my master’s in Information Technology, where I satisfied my passion for technology and digital transformation. Through this learning, I realised how the world of digital could change the energy sector. After finishing my degree and moving into energy, I decided to study for my master’s degree in project Management with the School of Engineering at Aberdeen University.

www.ogv.energy I April 2022

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What does your job involve on an average day? The most overused word in our industry right now is collaboration, but it is at the heart of everything we do at Worley and what I do every day. I am currently sponsoring a portfolio of projects in Sweden, which encompasses successful collaboration between our offices in Aberdeen, Doha, India, and Sweden. A lot of my day is spent communicating with the different offices and finding solutions for our customers to solve their challenges. I am also part of the Aberdeen leadership team, where we oversee all operations within Aberdeen.

Is upskilling a key focus for the energy sector right now? If so, is there enough communication about this? Upskilling is a key focus as there are a lot of opportunities for people to transition from working in conventional energy, into new energy roles. For those who wish to transition, I encourage them to have the courage to leave their comfort zone and apply their skillsets to these new emerging projects. It is also a liberating time for the next generation, who have a passion to change the Energy sector and there has been a lot of communication within the industry on how the younger generation can be involved. We have recently hired graduates and apprentices, which shows Worley’s commitment to the next generation who we believe can drive change. Unlocking brilliance in these people and supporting them to make change, is a key driver within our company. There can never be enough communication on the importance of the people within our industry, as without the people we cannot go through the transition.

What does the next 5 years look like for the energy industry? The next five years are going to be incredibly exciting. Aberdeen is going to be a key renewable hub within the Energy industry. I think everyone in the industry would agree that COP26 in 2021 was a game changer. It highlighted to achieve net-zero, we need change, and we need it to happen at a rapid pace. This is going to require a huge amount of collaboration and cooperation. If the pandemic has taught us anything, it’s that global collaboration can be achieved

on a scale we probably would never have thought possible. The key to progress is to collaborate across the whole supply chain. We need to develop repeatable-scalable modular solutions with a ‘design once, build many times’ mentality. It is also key that as we go through the changes needed within the energy sector, safety remains at the forefront of our minds.

What has been the highlight of your career so far? I was thrilled to be a finalist for the 2019 Industry Leader Award at The Press and Journal Energy Voice Gold Awards. However, I would say the highlight for me is to currently be at the forefront of changing the future for our clients. It is a great time to be involved within the energy sector as we see so many positive changes which will make the world a greener place to live.

Given the experience you have now, what advice would you give a graduate just starting their career in the energy sector? Do not be afraid to drive change. If you have an idea, share it. The energy sector has gone through so many changes, you can never fear change. Also, be confident enough to plan out where you want to be in 5 to 10 years and move roles to gain new learning experiences. Lastly, ensure you learn about the other projects, disciplines, and people you are working with. Expand your knowledge so you can see how your decisions affect others.

What ambitions have you still got to fulfil professionally in your career? My focus right now is to develop an in-depth knowledge of the energy transition, focus on how I can help drive change and more importantly how Worley can become an industry leader within the UK. To fulfil my career, I hope that by 2050, we will still be driving cars, flying planes and heating our homes, but our cars will be electric and gliding silently around our cities. I envisage our planes will be zero emission, allowing us to fly guilt-free and our homes will be heated by cheaper, reliable, and power drawn from the winds of the North Sea. I firmly believe Worley has a huge part to play throughout this journey.

PEOPLE IN ENERGY SPONSORED BY

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Your Challenge – Our Solution

LEGAL & FINANCE

Vanessa Castillo, Senior Solicitor

Objection Overruled – but what next? The recent judicial review of the OGA Strategy has been dismissed on all grounds but the judgement still leaves the door open for future objections to be raised. What were the key points of the judgement and which areas might oil and gas companies need to focus on to ensure they minimise the risk of being challenged in the future?

The challenge In May 2021, three campaigners, under the group 'Paid to Pollute', challenged the OGA Strategy through a judicial review on two grounds: • First, that the inclusion in the strategy of the definition of "economically recoverable" frustrates the purpose of "maximising the economic recovery of UK petroleum". Particularly, the claimants argued that the exclusion of any reference to the tax breaks available to oil & gas companies in the definition of "economic recoverability", in the OGA Strategy demonstrated a failure by the OGA to identify that the OGA itself is not maximising the revenue available from taxing the industry. This failing was then not economically beneficial to the UK as a whole and is, consequently, unlawful. • Second, that the adoption and application of the OGA Strategy was irrational in light of the UK's net-zero target. Always contact your lawyer for advice. You may also need to contact your insurer if arrestment is an insured risk.

The decision On 18 January 2022 the application was dismissed on all grounds.

obliged to maximise the expected net value of economically recoverable petroleum not the volume expected to be produced." The Court also made several comments on deficiencies of the expert evidence provided by the campaigners. The Court considered that the evidence did not comply with the requirements of the Civil Procedure Rules and the statements failed to draw clear distinctions between facts and opinion.

What does this mean to the OGA and the oil & gas industry? It is likely that campaigners will continue to utilise the courts to scrutinise the role of the government and the regulatory entities in the restriction of emissions by oil & gas companies, as well as potentially taking direct action against oil and gas companies. While the Court dismissed the argument of the irrationality of the OGA Strategy in light of the UK's net-zero target. The consultation document issued by BEIS in December 2021, which looked at designing a climate compatibility checkpoint for future oil and gas licensing in the UKCS, reaffirms that OGA is seriously addressing concerns that continuing licensing may be incompatible with the UK's climate objectives, but that there needs to be an initiative to find solutions to this issue.

In respect of the first claim, the Court held that it was unlikely that Parliament intended the Court, and not the expert regulator, to determine the best method of economic assessment. Therefore, the definition of "economically recoverable" in the context of maximising economic recovery was a matter to be determined by the OGA. Additionally, the Court determined there was no error in the approach taken by the OGA given that the pre-tax methodology does maximise economic welfare and is in the interests of the UK as a whole. On the second claim, the Court affirmed OGA’s position that the claim oversimplified the strategy and the OGA's economic assessment to the point of misunderstanding it, as the assessment to be performed does not necessarily result in maximised extraction: "relevant persons are

www.ogv.energy I April 2022

Vanessa Castillo, Senior Solicitor

What should oil and gas companies do next? Oil and gas companies need to ensure they are fully compliant with licence terms and environmental obligations. Vigilance in the application of their own policies and procedures in relation in relation to these terms is also more essential than ever before. With the recent announcement that the UK is to recommence licensing, oil and gas companies should be ready for the even greater environmental scrutiny that will likely now be inherent in the next licensing round.

COMMUNITY PARTNER The workshops aim to raise aspirations, develop employability and business skills and give an insight into university life and the University of Aberdeen Business School. The initiative has several aims, including addressing attainment issues among young people, attracting people from all backgrounds to higher education, providing work experience opportunities for University students with the Football Club and AFCCT.

University of Aberdeen and AFC Community Trust renew partnership The University of Aberdeen and AFC Community Trust’s successful partnership dedicated to supporting north-east communities and young people has been renewed for another year. As the region recovers from the pandemic, the initiative between the University and AFC Community Trust (AFCCT) and AFC, which began in 2018, has never been more important and will enable a range of engagement activities for young people including workshops in local schools and student placement opportunities. The partnership agreement will see the University of Aberdeen Business School work with AFCCT colleagues to deliver fun and engaging workshops for primary and secondary school pupils in Aberdeen and Aberdeenshire, where pupils are tasked with designing creative marketing plans and sales strategies, using football clubs as examples.

Professor Peter Edwards, Vice Principal Regional Engagement and Regional Recovery, said: “Partnership working is essential to the Covid-19 recovery and the many current challenges facing our communities in the north-east. This partnership has been hugely positive for the area and I’m excited that we will be able to build on the good work going forward. “Our founding principle is to be ‘open to all’ and part of that is engaging with our communities to encourage people from all backgrounds into higher education. We are delighted to once again be joining forces with the North East’s own football team to work together to improve life experiences and provide opportunities for our young people. “The University and AFC are both committed to supporting our local communities and I’m looking forward to watching this partnership continue to grow and go from strength to strength over the next year.” Robbie Hedderman, AFC Business Development Manager, added: “Our partnership with University of Aberdeen continues to be the perfect example of the positive impact a collaborative approach to education can have in our local community. “As a Club and Trust we strive to raise the aspirations of our young people and this approach aligns with the University’s overarching desire to be ‘open to all’, encouraging people from a wide variety of backgrounds into higher education.

“The fun and engaging workshops in local schools have been very well received by primary and secondary pupils and we look forward to seeing this partnership flourish as it continues to provide real opportunities for young people in the north-east.” AFCCT Chief Executive Liz Bowie said: “We are delighted to be continuing our successful partnership with the University of Aberdeen. “AFCCT utilises the love of Aberdeen Football Club to engage young people in their education, working in numeracy, literacy, business and STEM subjects, in addition to physical and mental wellbeing. We work with over 12000 children in 25 schools across the region, driven by our aim to close the poverty attainment gap and raise the aspiration of the young people we work with. Partnering with the University of Aberdeen opens the eyes of many children to the possibilities of higher education and all that affords. “I am looking forward to seeing the many positive impacts of this strong partnership on the young people in our community in the year ahead.”

PiPElinE Pig lOcating nOn-intrusivE Pig signallErs PiPElinE Data lOgging anD tEsting BEsPOkE sOlutiOns

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WORLD SUSTAINABLE ENERGY DAYS 2022 6-8 APRIL - AUSTRIA

VENTUR – THE TRAVEL PARTNER Specialists in connecting people through travel, ventur’s expertise in partnering with businesses in the oil and gas industry is second to none. In May this year, the travel management specialist formerly known as Traveleads, unveiled its new identity as part of a business transformation to elevate standards of service and deliver clients a premium, tailored travel management experience. Following in-depth research which highlighted that customers truly valued the firm’s expertise, consultative approach and relationships with the team, the new identity of ventur – the travel partner was revealed, bringing together the decades worth of experience, efficiency and accessibility with a commitment to creating a culture of success and adding even more value to customers’ travel programmes. Here, we chat to client services director – corporate, Maggie Monteith, about the company’s exciting year and plans for the months ahead.

TELL US A LITTLE MORE ABOUT VENTUR As Ventur, it’s important to us that we’re constantly evolving to meet and exceed customer needs – that’s what makes us The Travel Partner. Customers are always at the heart of what we do, whether it’s understanding the often-urgent nature of enquiries, ensuring travellers are safe or simply helping them navigate a complex travel landscape, they can rely on our expert team to get them to their ‘there’ seamlessly. We help them travel safely wherever they need to be – whether they’re travelling to industryleading conferences, carrying out essential work or building relationships with business associates across the world, we’re here to help them every step of the way.

LISTEN TO VENTUR FURTHER

Featuring guests such as tennis legends Tim Henman OBE and Judy Murray OBE to CEOs including Anthony Gruppo of Marsh Commercial and Steve Birch of Sky Betting and Gaming, the podcast takes a deeper dive into how – and why – successful people reach their accomplishments. Plus, with life-changing advice from global life coaches such as Brian Tracy and Anil Gupta to stories of mindset and determination from the likes of Jasmine Harrison, the youngest woman to row the Atlantic solo and Dr Neslyn Watson-Druée CBE who arrived in the UK at 19, working her way up to become Chairman of NHS Kingston, Ventur Further is the perfect dose of weekly motivation. Available on major podcast streaming services, including Apple Music and Spotify, Ventur Further is sponsored by luxury boutique hotel brand, Dakota Hotels, which has locations in Leeds, Manchester, Edinburgh and Glasgow. Ventur Further can be found on ventur.partners/ podcast. Follow Ventur on LinkedIn, Twitter, Instagram and Facebook for further updates.

TRAVELLING TO ADIPEC WITH VENTUR Fully vaccinated travellers can now fly to Abu Dhabi without the need for quarantine. Contact us at hello@ventur.partners, call +44 (0)113 245 7745 for more information on the below package*: •Return economy class flights from Aberdeen to Abu Dhabi via Amsterdam •Five nights’ accommodation at the Four Star Yas Island Rotana Hotel, including daily breakfast and complimentary Yas Beach access (classic room) •Return private car airport transfers in Abu Dhabi •Complimentary shuttle bus operation from the hotel to the ADIPEC show •Price from £1,175.00 per person (twin share) •Sole traveller supplement £400.00

11-12 APRIL - THE NETHERLANDS

E-TECH EUROPE, BATTERY INDUSTRY EUROPE 12-13 APRIL - ITALY

WIND ENERGY IRELAND 2022 13-14 APRIL - IRELAND

ENERGY TECH SUMMIT 2022 26-27 APRIL - POLAND

E-MOBILLITY CHARGING INFASTRUCTURE EUROPE 2022 26-28 APRIL - GERMANY

BUSINESS NETWORK FOR OFFSHORE WIND 26-28 APRIL - NEW JERSEY, USA

YOUNG PROFFESSIONALS GREEN ENERGY AWARDS 2022 28 APRIL - GLASGOW, UK

OFFSHORE TECHNOLOGY CONFERENCE 2022

Alternative hotels and flights options are available including departures from Edinburgh and Glasgow, please contact us for latest prices and also for upgrade supplements.

2-5 MAY - TEXAS, USA

*Please note, all details and costs will be subject to availability at the time of booking.

GREEN HYDROGEN 5 MAY - SHEFFIELD, UK

Discover more about Ventur at ventur.partners

Compelling insights, inspirational people and stories of growth are being shared on Ventur’s weekly podcast, Ventur Further. With new episodes released every Tuesday, Ventur Further sees Ventur’s board advisor, Peter Wilcock, invite guests from musical, sporting, business and adventure-seeking backgrounds to discuss career journeys, life stories and their personal inspirations.

FUTURE OF ENERGY

EUROPEAN BIOMASS CONFERENCE & EXHIBITION 9-12 MAY - MARSEILLE

Discover how we can transform your business travel at ventur.partners email workwithus@ventur.partners or call +44 (0)113 245 7745

VIEW ALL EVENTS AT www.ogv.energy/events

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OGV Energy - Issue 55 - April 2022 - New Energy

Articles inside

UK North Sea Energy Review

US Energy Review

Objection Overruled- But what next?

CONTRACT AWARDS

SSE Renewables Floating Wind – why delivery requires a balanced mix of ambition and pragmatism

PEOPLE IN ENERGY

Simplifying How You Use Data Today- A Modern Data Platform

VROC: Automated AI data solutions

University of Aberdeen and AFC Community Trust renew partnership

Stena Drilling: Developing ideas through an innovative culture

Re-Gen Robotics: Disruptive innovation in the oil tank cleaning sector

ANYbotics: ANYmal X —Transforming Inspection in Oil & Gas and Chemicals

OGV Community News

TWEFDA: Combined wave energy converter & green storage

New Energy Is Gaining Momentum

Europe Energy Review

QHSE: Managing Environmental and Carbon Footprint

World Projects

Middle East Energy Review

ETZ LTD CEO discusses respositioning the North East of Scotland as the Net-Zero capital of Europe