OGV Energy - Issue 63 - December 2022 - Risk & Safety Management

DECAUGUST 2022 - ISSUE 2020 63

UK’s No. ENERGY SECTOR

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PUBLICATION

RISK & SAFETY MANAGEMENT

GLOBAL ENERGY NEWS WORLD PROJECTS MAP MONTHLY THEME INNOVATION & TECH RENEWABLES CONTRACT AWARDS ON THE MOVE DECOMMISSIONING STATS & ANALYTICS LEGAL & FINANCE EVENTS

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Brimmond - QHSE Aberdeen STC Insiso - Salus Technical Re-Gen Robotics - RenewableUK 3t Transform

EXPANSION, INVESTMENT & DIVERSIFICATION THE FUTURE IS BRIGHT FOR BRIMMOND

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COVER SPONSOR P.04 OGV COMMUNITY NEWS P.08 PEOPLE IN ENERGY P.10 GLOBAL ENERGY NEWS P.11 4

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WORLD PROJECTS MAP P.20 MONTHLY THEME P.22 INNOVATION & TECH P.28

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RENEWABLES P.32

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CONTRACT AWARDS P.34 ON THE MOVE P.36 DECOMMISSIONING P.38 27

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STATS & ANALYTICS P.40 LEGAL & FINANCE P.42

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EVENTS P.43

KENNY DOOLEY MAIN EDITOR Welcome to the December edition of ‘OGV Energy Magazine’, where this month our theme is on ‘Risk & Safety Management’, as we head towards the Christmas holidays.

Our front cover partner this month is Brimmond Group and you can read all about their transformational year on pages 4 & 5, which included new board appointments, the absorption of their sister company and diversification into new markets.

We also have contributions from Viper Innovations, Zync360, QHSE Aberdeen, PIM Ltd, Re-Gen Robotics Salus Technical and STC Insiso.

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.

Happy Christmas!

Kenny Dooley

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

4

AN IMPORTANT YEAR FOR BRIMMOND This year has been an important one for Brimmond, the Aberdeenshire-based provider of hydraulic, lifting and mechanical equipment and services.

Starting the year off strong, Brimmond secured UK distributorships with KAMAT pumps and Heila Marine Cranes - both critical components to the company’s continued diversification - and has continued to go from strength to strength reporting its highest-ever turnover of £6 million.

Significantly in 2022, Brimmond integrated the divisions of its business by absorbing sister company Rigrun Europe. The company, which also rebranded after dropping ‘Group’ from its title, announced Tom Murdoch as Managing Director of the newly unified entity in June.

Reflecting on the company’s recent journey, Tom said: “Unifying the business has created a stronger organisation, more capable of achieving growth in domestic and international markets as demand for our services continues to increase.

“The rebranding and restructure followed a successful year as we celebrated our 25th anniversary and secured contracts spanning the renewables, nuclear and marine sectors. It’s been a busy but very substantial year for us. Looking towards the end of March for the next financial year, we have an incredible pipeline of projects we are very close to securing.”

www.ogv.energy I December 2022

Key to this growth, Brimmond is in the process of implementing a new ambitious strategy to diversify into new markets including marine, aquaculture and renewables.

To further strengthen its board, in addition to Tom, as well as Operations Director Stewart Findlay and Technical Director Alan Glennie, Nigel Jenkins has recently been appointed as Non-Executive Director.

Nigel, who specialises in business improvement and growth, has been integral in the development of the new three-year strategy, as Tom explains: “Nigel has an outstanding business track record and brings a wealth of experience and knowledge to Brimmond’s board, particularly in functions and processes that grow businesses and generate revenues.”

With a 25-year history in tailor-made design and manufacture of safe and cost-saving machinery for a wide range of sectors, oil and gas remains pivotal to Brimmond’s core business.

Tom adds: “Oil and gas will continue to be the primary source of income for us. This coming year I’d estimate it to have been 60-70% of the work. However,

diversification is critical as the industry adapts to navigate the energy transition.

We’re actively targeting opportunities for sustainable growth in other sectors and pleased to be increasing both our presence and product offering in emerging lowcarbon markets.

“We have invested a lot of time in the Fit4OffshoreRenewables programme to ensure we can keep up, and excel at, our incoming renewables and energy transition opportunities.

“To support the recent growth, and achieve our objectives within new sectors, we are expanding the Brimmond team. Our people are at the very core of our company – we have a strong track record in the bespoke design and innovative manufacture for a wide range of sectors with a global reach, and this is down to the wealth of experience and calibre of our in-house team. We want to enable them to develop and grow along with the industry.”

Brimmond currently employs 33 members of staff and is looking to recruit another six including engineering roles, a business administrator and a workshop apprentice, with the hope of rolling out an apprentice programme in the future.

COVER FEATURE

Brimmond is on track to beat this year’s £6 million turnover by around 10% with an exciting pipeline of projects and contracts in various sectors lined up for 2023.

Not only does Brimmond invest in its people, but the company has also invested over £1million into various areas of the business, including rental fleet, stock Heila Cranes and the facility.

New rental equipment includes another 175 Tonne Meter crane, capable of 27m of reach and various hydraulic power units. And a dedicated fabrication extension onto their current building in Kintore is also in the works to increase capacity.

Amid an exceptionally busy year, the Brimmond team also found the time to get involved in a variety of creative fundraising activities through its charity partnership with Charlie House.

Throughout the year, Brimmond has continued to boost its efforts to raise awareness and critical funds for the charity, which supports local children with life-limiting conditions, hitting the impressive milestone of £25,000.

Brimmond is on track to beat this year’s £6 million turnover by around 10% with an exciting pipeline of projects and contracts in various sectors lined up for 2023. “We’ve got an exciting new product for a new industry, and it's looking as though next year is going to be a very busy and hugely rewarding year,” concludes Tom. Brimmond designs, manufactures, rents and services a range of hydraulic, mechanical and lifting equipment. The company’s core equipment includes diesel and electric hydraulic power units (HPUs), marine cranes, umbilical reelers, spoolers, flushing units and pump units of all shapes and sizes.

At Brimmond we specialise in the design, manufacture, rental and repair of lifting, mechanical and hydraulic equipment for industry, from our base in Aberdeenshire, Scotland. www.brimmond.com

5

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OGV COMMUNITY NEWS a permanent physical presence in this key growing market. The creation of the local entity, EnerQuip Torque Solutions, to serve the Middle East market from a local base demonstrates commitment to the region but also at a local level, particularly in Abu Dhabi, given the importance of local investment to support In Country Value (ICV) objectives.

EnerQuip announces record new contract award to mark opening of Middle East office

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Maximum Growth in Middle East for Vulcan Completion Products An international leader in the provision of creative solutions for the oil and gas completions market has cemented its commitment to the Middle East with a move to larger premises to accommodate a growing team.

Vulcan Completion Products (VCP) has relocated its regional office to a new, larger office space in Dubai.

From here, the recently expanded team – which now comprises four people – will enhance VCP’s foothold within the Middle East region, which is deemed to be of paramount strategic importance, both historically and in the company’s ambitious growth plans.

Vysus Group gives back to mark its second anniversary Colleagues from across Vysus Group‘s network of offices continue to take part in a range of community and charitable activities, to mark the company’s second anniversary.

Teams have been giving back to local communities by holding food drives, collecting and distributing donations to families in need, taking part in clean-ups, supporting local charities and entertaining residents in care homes.

Multi award-winning North east company EnerQuip has celebrated the landmark opening of its first sales and service centre in the Middle East, and the creation of a strategic alliance with the announcement of a record $2.5 million contract award for delivery to Abu Dhabi in 2023.

The ambitious seven-year-old company has just opened premises in Abu Dhabi, UAE and hired full-time local staff in a move which will establish

Aize announces first location in Houston, U.S. Aker software company Aize establishes Aize Inc. and opens first office outside Europe, in Houston, Texas.

Aize, a provider of software for heavy-asset industries, has announced further expansion into the U.S. market with the opening of a new location at The Ion in Houston.

Aize creates domain-specific software that enables faster and leaner project execution and efficient operations for exploration and production companies. Developed by and for domain experts, the Aize workspace allows users to search, visualise and navigate assets digitally, making collaboration more efficient.

J+S celebrates strong year with global award Subsea controls engineering specialists J+S Subsea have lifted the Operational Support Company of the Year title in the Corporate LiveWire Global Awards.

The Aberdeenshire-based business has taken the top spot in the awards, based on its quality of service, innovation and sustainability initiatives.

Managing director Phil Reid said: “We pride ourselves on understanding customer drivers and priorities so receiving this award is brilliant recognition for our efforts”

In establishing this new entity, EnerQuip has partnered with Al Yaseah Oil & Gas Industry Supplies & Services LLC to harness future opportunities in the region, including the securing of a significant multimillion dollar, multi package deal. The deal will see EnerQuip deliver several packages of their MTU (Mobile Torque Unit) that will be capable of fully automated offline make ups of threaded casing and drill pipe up to 20” diameter, and 120,000ft.lbs of torque.

The latest announcements represent further ambitious steps forward for the company which recently announced a significant expansion to its portfolio thanks to a key product line acquisition.

STATS technology come of age with increase in Australian pipeline market frame agreements Just one year on from establishing a new entity in Australia, pipeline technology specialist STATS Group (STATS), is looking forward to a bright future after securing frame agreements with some of the region’s largest Tier 1 operators.

A wider market understanding of the company’s patented BISEP® double block and bleed isolation technology has laid the foundations for growth which is being realised with contract wins and formal longterm strategic relationships.

Rotech Subsea completes trio of German Offshore Wind Farm cable burial operations Controlled Flow Excavation (CFE) specialist, Rotech Subsea, has consolidated its position as the cable trenching partner of choice for the offshore wind sector, completing three remedial cable burial scopes of work offshore Germany for a European electricity cabling giant. Aberdeen-based Rotech Subsea mobilised its state-of-the-art RS1-2 Hybrid CFE tool for the operations, deploying it at various locations across multiple export cables.

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LOUISE GRADY

Global HSEQ & CMS Manager Energy Resourcing Louise has worked for Energy Resourcing for the past 22 years. Her role from the beginning always involved the Quality aspect later developing into a role that also covers HSE and Contractor Management Service (CMS).

Initially supporting the UK business, Louise has moved into a global role to provide support to all Energy Resourcing regions.

How did you get into the Energy sector and how long have you been working in it?

I started working within the business as a summer placement and once I completed University, I took a full-time role. I have been within the sector for the past 22 years and have done varying roles particularly those related to Quality and HSE.

What does your job involve on an average day?

As I work with all regional locations within Energy Resourcing, my days are not always typical.

Working with time zones and a variety of needs is always a challenge which keeps me on my toes. A lot of my time is spent looking at systems we use to be able to provide resource to our customers.

Having recently implemented system in to all Energy Resourcing locations has meant that I have been able to engage and work with each team to tailor their specific needs for the use of the system.

Alongside this some activity that I often carry out is audit related and where appropriate visiting sites to conduct a HSE safety tour to ensure our contractors are well looked after.

What are main barriers to international growth for ambitious companies and what advice do you have for them?

Looking at this from the role I carry out, systems certainly stands out to me. Having a system that your business uses at all levels and in all locations improves the opportunity to facilitate international growth. Systems being managed at a global level helps to speed up process, move people between countries and ensure we can manage where are contractors are working.

What has been the highlight of your career so far?

For me the fact, I have never felt the need to leave the Company I work for. During my time here I have always held roles that have offered me a lot of variety so no two days are the same. I am also proud of the fact I can now share my knowledge and expertise to support our business on a global level.

What ambitions have you still got to fulfil professionally in your career?

My main goal is to gain ISO 9001 and ISO 45001 on a Global level. Ensuring we are working cohesively and to a worldwide recognisable standard is valuable. As I have for many years ensured we have and maintain these accreditations in our UK business this will allow me to use my knowledge to assist all our regions in achieving this goal.

Who has been the most influential person in your life professionally?

I was mentored by a senior colleague Early on in my career I had a manager who invested a lot of time in supporting me on my career path. He would always push me, guide me and ensure I was enjoying my work. The lessons I learnt from him and the knowledge

I gained over those years are invaluable to me and I will always remember this. I like to think his influence has shaped me with how I engage and work with my colleagues.

Over the next 10 years, what changes would you like to see in the energy sector with respect to D&I? I can clearly see that the sector has made improvements in D&I however there is still a lot of work to be done. Engaging from an early age is something I would like to see more of.

As a mother of a 6 year old daughter I can see small steps at her School and the subjects they are starting to cover even at that age. I think its important that it continues throughout the education system at all levels to help make the industry as diverse as we can.

Given the experience you have now, what advice would you give a graduate just starting his career in the Energy sector?

Make the most of the opportunity, learn as much as you can and have fun along the way!

If you were inviting guests to a dinner party, which 3 people would you invite and why?

Sir Alex Ferguson – as a season ticket holder at Manchester United for the last 30+ years there are so many things I’d love to ask him!

Dame Judi Dench – such an iconic actress and after seeing a recent interview with her I want to learn more and her the amazing stories she has to tell! She would definitely keep the dinner party entertained.

Gino Di Campo – Of course a chef is required to make the dinner! Aside from delicious food, I think he would bring some fun and humour to the table!

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DECEMBER 2022

UK NORTH SEA

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By Tsvetana Paraskova

The hike in the UK windfall tax on the profits of oil and gas operators in the North Sea and its implications for the industry, decommissioning challenges and opportunities, and field and prospect updates featured in the UK oil and gas industry this month.

The UK government raised the windfall tax from 25% to 35%, drawing criticism from the industry and making some firms rethink their investment plans.

In the Autumn Statement in the middle of November, the government said that “The Autumn Statement sets out reforms to ensure businesses in the energy sector who are making extraordinary profits contribute more.”

The Energy Profits Levy will be increased by 10 percentage points to 35% and extended to the end of March 2028, from December 2025, and a new, temporary 45% Electricity Generator Levy will be applied on the extraordinary returns being made by electricity generators. The investment allowance for oil and gas operators will be reduced to 29% for all investment expenditure (other than decarbonisation expenditure), broadly maintaining its existing cash value. The hike in the Energy Profits Levy is expected to raise over £40 billion in total over the next six years, the government said.

After the announcement of higher windfall taxes, the leading industry association, Offshore Energies UK (OEUK), warned that the UK’s offshore industry would be “hit hard by the chancellor’s latest tax changes, which threaten to drive out investors, drive up imports and leave consumers increasingly exposed to global shortages.”

The offshore sector was paying 40% tax on oil and gas production even before the windfall tax was imposed in May. Since then, it has been paying 65%. The latest rise takes the overall tax rate to 75% from January 2023, OEUK said.

Deirdre Michie, OEUK’s chief executive, said that consumers were suffering, and it was right for all sectors to play their part but added: “These tax changes will undermine one of the UK’s most important industries.

The UK offshore industry generates jobs for 200,000 people plus billions of pounds in taxes. The oil and gas it produces buffers the nation against global shortages.

These changes put all those benefits at risk.”

Continues >

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The latest budget, warned OEUK, means much of the necessary investment in all energies could dry up.

“If it does then oil and gas production will plummet so fast that, by 2030, the UK could be forced to import up to 80% of its gas – double the current level,” OEUK said.

Commenting on the new tax, supermajor Shell said it would be re-evaluating its £25 billion planned investment in the UK energy system.

“We're going to have to evaluate each project on a case by case basis,” Shell’s UK Country Chair David Bunch said at the Confederation of British Industry's annual conference in Birmingham on 21 November.

Da

A tenth of UKCS oil and gas expenditure went on decommissioning in 2021, a proportion set to rise to 13.7% this year and to 19% by 2031.

Overall, decommissioning will account for 15% of UK offshore expenditure over the next ten years, OEUK said.

However, an upturn in activities throughout the UKCS will pose a challenge for the UK supply chain.

“Continued pressure from new energies also adds to this challenge as the UKCS battles to meet increasing demand for labour and materials,” OEUK said.

The North Sea industry has made great strides cutting the overall cost estimate for decommissioning, by 25%, or £15 billion, since the start of 2017, but it can go further, the North Sea Transition Authority (NSTA) said on 22 November and challenged the sector to reduce costs by further 10% in next five years.

“When you tax more you're going to have less disposable income in your pocket, less to invest,” Shell’s top executive for the UK said.

In March 2022, Shell revealed plans to invest £2025 billion in the UK energy system over the next 10 years, with more than 75% of this intended for low and zero-carbon products and services.

what had been forecast for the period 20222025.

vid

Bu

n

ch Neptune Energy warned that some of the new development opportunities across its global portfolio “are at risk from potentially poorly targeted windfall taxes, particularly in the UK, Germany and the Netherlands. Neptune is supportive of a fair level of taxation, but mechanisms must not discourage investment in incremental production to support energy security priorities, as well as carbon reduction initiatives.”

EnQuest said in an operations update, “While the recently announced increase and extension of the duration of the Energy Profits Levy is particularly disappointing and threatens the delivery of UK's twin objectives of long-term energy security and decarbonisation, we remain committed to the UK North Sea and delivery of value to our stakeholders.”

At a decommissioning conference in St Andrews on 22 November, OEUK’s chief executive Deirdre Michie warned that the UK’s oil and gas production would drop in the coming years unless it supports energy companies in further North Sea exploration.

“The NSTA is challenging the sector to build on its strong progress by lowering the total estimate for decommissioning redundant platforms, wells and pipelines by an additional 10%, from £37 billion to £33.3 billion, between 2023 and end-2028,” the authority said.

OEUK’s Exploration Insight report showed in November hat unpredictable fiscal conditions are denting the confidence of offshore energy-producing companies to invest and revitalise oil and gas exploration activity.

“The waters off the coast of the UK still contain oil and gas reserves equivalent to 15 billion barrels of oil equivalent (boe), enough to fuel the UK for 30 years, but more investment in exploration is needed to slow down the decline in domestic production to safeguard the nation’s energy security,” OEUK said.

“The decommissioning opportunity is snowballing and could be worth around £20bn to the supply chain between now and 2031,” OEUK said in the report.

Gr At the end of October, NSTA ah am warned the industry that Sw ind ell it would not hesitate to take s action against companies that fail to meet their licence obligations. An investigation has been opened into whether a company, which was awarded a licence in the 28th Licensing Round in 2014, has failed to comply with several obligations, including drilling an exploration well and shooting a 3D seismic survey, NSTA said. Operators must meet their licence commitments to ensure a level playing field for all, the authority noted.

Decommissioning spend is forecast to increase dramatically over the next four years.

Between 2019 and 2021 the average annual spend was £1.23 billion, or roughly two thirds

NSTA also moved to cut red tape and scrap the requirement for Cessation of Production (CoP) reports, which will help industry to make significant savings in time and money.

At the conference, OEUK presented its latest Decommissioning Insight report, which found that more than 2,000 North Sea wells involved in oil and gas extraction are to be decommissioned at a cost of around £20 billion over the next decade.

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“This move frees up time for operators to focus on those core tasks and creates time for NSTA staff to support the energy transition,” Brenda Wyllie, NSTA Area Manager, said.

In company news, Centrica has announced the reopening of the Rough gas storage facility, having completed significant engineering upgrades over the summer and commissioning over early autumn. The work done so far means that Rough is operating at around 20% of its previous capacity this winter, immediately making it the UK’s largest gas storage site once again and adding 50% to the UK’s gas storage volume.

Deltic Energy confirmed that operator Shell UK had started drilling on the Pensacola gas prospect with the Maersk Resilient rig.

“Pensacola is a high impact, potentially play opening prospect and represents what we hope will be the first of many wells as the Company continues to implement its strategy to identify opportunities and discover gas to support the UK's energy needs,” Deltic Energy CEO Graham Swindells said.

Reabold Resources completed the sale of the entire issued share capital of Corallian to Shell for £32 million gross.

Hurricane Energy said in early November that it had decided to launch a formal sale process in order to establish whether there is a bidder prepared to offer a value that the Board considers attractive. Crystal Amber Fund Limited, Hurricane Energy’s largest shareholder with 28.9%, has indicated to the Board its desire to monetise the value of its shareholding, Hurricane Energy said. In an update two weeks later, Hurricane Energy said that the sale process was progressing, “with multiple expressions of interest received from credible counterparties.”

Finder Energy has entered into three farmout transactions with Dana Petroleum for three licences in the Central North Sea. Finder is assigning 40% in each of the three licences to Dana Petroleum, while retaining 60% in them.

“Finder retaining a 60% interest allows for secondary farmouts to secure funding for wells whilst still retaining meaningful levels of participation in any discovery,” the company said.

Wood has been appointed integrated services partner by Centrica Storage for the company’s UK Southern North Sea operations.

The five-year contract includes the provision of engineering, procurement and construction solutions, operations and maintenance services, as well as project management services for the Rough gas field and the Easington Gas Terminal in East Yorkshire.

Wood’s scope also includes working with Centrica Storage to support their ambition to drive the UK’s clean energy transition by redeveloping Rough into the world’s biggest hydrogen storage facility.

BRENT OIL PRICES OVER THE YEARS

THE SOCIAL STRATEGIST

BRENT OIL PRICE DEC 2022 - $96.13

What does your 2023 Digital commercial strategy look like?

Eric Doyle

By Eric Doyle

At many points in my career, I’ve been involved in the management of risk.

From task-based to business risk.

I’ve found the process of identifying, assessing, and mitigating risk, fascinating through the years.

The mere fact that good risk assessment and management saves lives, reduces waste, lowers cost and saves time is impressive enough but, the mindset and process also encourage us think about opportunity.

Opportunities for improvement, for progress and growth.

As time moved on my focus turned to business risk, often centred around cashflow, profit & clients.

I’ve seen some fantastic, active corporate risk registers in my time and some dreadful examples of stale, inactive box ticking exercises. I even remember a time with a board in the 2010s where the Chairman spent 30 minutes arguing that we should remove “Global Pandemic” from our risk register as it was “a ridiculous waste of time focussing any energy on this nonsense”…

Nowadays my focus is on managing modern commercial risk.

Every organisation we talk to is experiencing challenges . Many have problems recruiting good people and retaining the people that they have…but for most the challenge centres round three areas - pipeline - visibility - credibility Pipeline = External sales Marketing = Credibility & visibility Even those organisations that have been fortunate to have had a couple of good years of sales have invariably realised that those days are gone or drying up and, they not only have no pipeline today…but they have no reliable mechanism for regenerating it.

For visibility and credibility, the stark truth is that old techniques don’t work anymore.

That’s not a huge surprise as marketers only one tools, words. You can tell people that your product is amazing/class leading/world beating, and you can say you are ‘customer focused and market leading’…but so can all of your competitors.

The truth is that your prospects (the individuals within your target organisations) are going to make potentially a career-limiting mistake by choosing the wrong supplier and simply giving

them data/arguments/reviews “pricing” that you’re better than the competition doesn’t cut it because the competition are doing exactly the same.

Your commercial world has turned to Digital and knowing how to operate and be successful in your Digital sectors is now crucial.

“As leaders, we are at a crossroads – Analogue or Digital..?”

Do we hold fast and keep doing what we are doing or convert to Digital commercial practices and take what’s rightfully ours...?

The Digital Twin of your sector is already in build. Companies that have rewired their commercial processes to Digital are prospecting, networking, growing communities, building new relationships, and converting all of this to commercial interaction.

1

YEAR AGO

- BRENT OIL PRICE 2021 - $73.71 The price of oil continued a steady rise throughout December last year. This was despite the Omicron variant spreading rapidly, as there were hopes that the COVID-19 variant would have limited impact on global demand heading into 2022.

Earlier in the month, the firm behind the controversial ‘Cambo oil field’ off Shetland announced they were “pausing” the project.

This announcement came following Shell pulled out of the North Atlantic development.

The access point to your commercial future is through Strategic Social Media.

We meet leaderships team from across sectors who tell us they have no pipeline. They tell us they have no leads and are existing on historic relationships with those 1 or 2 clients that “always come to us”.

We show them what modern Digital commerce looks like, how it works and what they should see in return….it answers their problems on revenue, ebitda, recruiting, ,market share….and more.

Then someone usually asks the question “How will we find the time to do this in our already busy days...?”

We hear this a lot.

The subtext in the introduction was “nothing we are doing is working and we are struggling to make ends meet”.

They now see a way ahead but are worried that it’s going to get in the way of all the things that they are doing that aren’t working.

This is why we talk about resetting the commercial brain of the company and the team to Digital.

Becoming the leading technical and commercial Digital influencers in your sector isn’t a ‘bolt on’, it’s the way we need to be working now.

Many of our clients realise this as we go through our programme and begin offloading things that don’t work and redefining their commercial processes for the modern age.

So, as we move into 2023., how does your Digital commercial strategy look?

Are you moving with the times or holding onto old ideas and method…more adverts, more emails, more phone calls?

Are you building Digital communities and ecosystems around your people or are you hoping everything goes back to the way it was…?

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

www.consultcrux.com

5

YEARS AGO

- BRENT OIL PRICE 2017 - $63.81 Brent oil prices spiked to the highest level in two and a half years following news that a major pipeline in the North Sea would shut down for repairs. The forties pipeline was set to be closed for several weeks while its operator, INEOS, repaired a crack in the pipe that had been discovered. The pipeline was responsible for transporting around 40% of the North Sea’s output.

10

YEARS AGO

- BRENT OIL PRICE 2012 - $110.57 The US government’s energy agency decided to adopt North Sea Brent crude as their benchmark for oil forecasts, dropping their domestic benchmark in the process, saying it no longer accurately reflects the price paid for oil by U.S. refineries. The move from the U.S. Department of Energy reflected a migration of large parts of the oil market to Brent.

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ENERGY NEWS

ENERGY NEWS

By Tsvetana Paraskova

Europe Energy Review

By Tsvetana Paraskova

Oil and gas field developments offshore Norway, the UK windfall tax on low-carbon electricity generators, and many low-carbon energy deals marked the last month in Europe’s energy sector.

Oil & Gas Norway’s Equinor and its partners in the Wisting prospect in the Barents Sea have decided to postpone the investment decision scheduled for December 2022. The maturation of the project continues, aiming for an investment decision by end of 2026.

“Many people have been working hard to realise Wisting, and the decision is demanding. However, in the current supplier market postponing the investment decision to ensure an economically sound development and robustness in the execution phase of the project is the right decision. When the pressure in the supplier market subsides, the Wisting project will be possible to execute in a good way,” said Geir Tungesvik, Equinor’s executive vice president, Projects, Drilling & Procurement.

www.ogv.energy I December 2022

Equinor and partners will now further mature the development concept, the power-fromshore solution, and consider new supplier models for Wisting.

The Norwegian company, however, has decided to develop the Irpa gas discovery, formerly known as Asterix, in the Norwegian Sea north of the Arctic circle. Equinor and partners Wintershall DEA, Petoro, and Shell will invest $1.5 billion (14.8 billion Norwegian crowns) to develop the discovery, the plan for which was submitted to Norwegian authorities at the end of November.

The Irpa discovery has expected recoverable gas resources equivalent to 124 million barrels of oil equivalent or the consumption of nearly 2.4 million British households over a period of seven years, Equinor said. The gas field is scheduled to come on stream in the fourth quarter of 2026. There will be joint production from Irpa and Aasta Hansteen through 2031 and then Irpa will continue to produce until 2039.

The gas will be phased into existing infrastructure over Aasta Hansteen and transported to the Nyhamna gas processing plant via Polarled. From there, gas will be transported via the Langeled pipeline system to customers in the UK and continental Europe.

“This is a good day—the development of Irpa will contribute to predictable and long-term deliveries of gas to customers in the EU and the UK,” Equinor’s Tungesvik said.

OKEA became operator of the Brage field with effect from 1 November 2022 after completing a sale and purchase agreement with Wintershall Dea. Through the acquisition, OKEA adds a new operatorship to its portfolio and increases production and reserves by 30-40%.

US firm Excelerate Energy signed at the end of October an agreement with Germany’s Government to charter the floating storage and regasification unit (FSRU) Excelsior

to help provide energy security and supply diversification to Germany while supporting the country’s transition to renewable energy.

“The deployment of the FSRU Excelsior to Germany demonstrates our commitment to strengthening energy security at a time when traditional energy sources have proven unreliable,” said Steven Kobos, President and CEO of Excelerate.

Neptune Energy and its licence partners announced in mid-November that hydrocarbons had been encountered in the Calypso exploration well in the Norwegian Sea. The operations in the reservoir section remain at an early stage and it has yet to be confirmed if commercial volumes are present, said Neptune Energy which views Calypso as an exciting prospect that could be tied-back to existing infrastructure in case of a commercial discovery.

Low Carbon Energy The UK government introduced a 45-percent temporary tax on the extraordinary returns of low-carbon electricity generators, the Chancellor of the Exchequer Jeremy Hunt said in the Autumn Statement.

“The structure of our energy market means high oil and gas prices are driving up the cost of otherwise cheap low-carbon electricity in the UK. The government will introduce a new, temporary 45% Electricity Generator Levy on these extraordinary returns from 1 January 2023. This will help fund government support for energy bills and vital public services,” the UK government said.

For the purposes of the tax, extraordinary returns will be defined as the aggregate revenue that generators make in a period from in-scope generation at an average output price above £75/MWh. The tax will be limited to generators whose in-scope generation output exceeds 100 GWh across a period and will only then apply to extraordinary returns exceeding £10 million. The tax will apply to extraordinary returns arising from 1 January

EUROPE development stage. Full seabed leases are granted at a later stage once applicants have the necessary consents from regulators, such as Marine Scotland, and have secured grid connections and financing.

2023 and will be legislated for in Spring Finance Bill 2023.

The windfall tax on low-carbon electricity generators risks severely damaging investment in vital renewable energy projects, RenewableUK warned after the new tax was announced.

“This windfall tax on low carbon power risks deterring investment, at a time when the Chancellor should be incentivising clean energy. Unlike in oil and gas, under this levy companies which are making significant investments in renewables will get no tax relief and will be hit by a higher windfall rate,” RenewableUK's CEO Dan McGrail said.

“We need to attract more than £175bn in new wind farms and our supply chain over the course of this decade, so we need to make the UK one of the most attractive destinations for private investment in renewables. Ministers now need to work with the industry to ensure that the implementation of these plans ensures a level playing-field, rather than imposing unfair burdens on renewables,” McGrail added.

Scottish Renewables also criticised the tax on low-carbon electricity generators, with Chief Executive Claire Mack saying, “Today’s announcement by the Chancellor damages this country’s reputation as a leader in renewable energy, chiefly by continuing to offer investment allowances to oil and gas extraction while failing to do the same for this industry.”

"This windfall tax on low carbon power risks deterring investment, at a time when the Chancellor should be incentivising clean energy. Unlike in oil and gas, under this levy companies which are making significant investments in renewables will get no tax relief and will be hit by a higher windfall rate" RenewableUK's CEO Dan McGrail said

“We note the exemption for smaller sites, but I would strongly urge the Government to fix this disparity as there is a strong need for tax relief for low carbon investments to help stabilise energy prices and offer long-term energy security. This is crucial for getting investments in renewables moving again following the pause that resulted from the last few months of political and policy uncertainty,” Gordon added.

In projects and deals, Crown Estate Scotland confirmed in early November that all three successful ScotWind Clearing applicants now have seabed option agreements in place meaning that their projects can move into the

The developers of the Ossian Wind Farm off the East Coast of Scotland have identified a potential increase in the overall project capacity, from 2.6 GW to up to 3.6 GW, SSE Renewables said. SSE Renewables as well as Japanese conglomerate Marubeni Corporation and Danish fund management company Copenhagen Infrastructure Partners (CIP) are the developers of the project.

“If realised, this change would position the project among the top five largest floating projects in the world, demonstrating its epic scale,” said David Willson, Senior Project Manager for Ossian.

Eni UK announced the launch of the Bacton Thames Net Zero (BTNZ) Cooperation Agreement, which is aimed at decarbonising industrial processes in the South-East of England and the Thames Estuary area, near London, by means of capturing and storing CO2.

“The UK needs £1.4 trillion to fund its transition to net-zero by 2050. To raise that money, international investors look to the UK Government to provide a stable policy environment which incentivises investment in clean power.”

“While the REA and its members recognise the immense economic challenges facing this country, we would question the wisdom of subjecting the cheaper, greener renewable power sector to a more punishing tax system than its oil and gas counterparts,” said Frank Gordon, Director of Policy at REA.

ENGIE and Google signed at the end of November a 12-year corporate power purchase agreement (PPA) supporting Moray West offshore wind development. ENGIE will provide Google with more than 5 TWh of green power from the Moray West project, a nearly 900 MW offshore wind farm set to begin generating power from 2025, the project’s developer Ocean Winds said.

Solent Local Enterprise Partnership, ExxonMobil, and the University of Southampton announced on 1 November The Solent Cluster, the first major decarbonisation initiative that would substantially reduce CO2 emissions from industry, transport, and households across the Solent and Southern England.

“Additionally, many renewable energy generators on older contracts have sold their power far in advance, so are not benefitting from excess profits from wholesale price rises caused by the cost of gas,” Mack added.

The Association for Renewable Energy and Clean Technology (REA) also criticised the new tax, saying the Government had sent wrong signals to investors with renewable energy taxes which compare unfavourably with the oil and gas sector.

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Equinor said that power production from the first turbine in the floating wind farm Hywind Tampen in the North Sea started on 13 November. The power was delivered to the Gullfaks A platform in the North Sea.

“While the REA and its members recognise the immense economic challenges facing this country, we would question the wisdom of subjecting the cheaper, greener renewable power sector to a more punishing tax system than its oil and gas counterparts,” said Frank Gordon, Director of Policy at REA.

In the UK, Equinor and Centrica signed a cooperation agreement to explore developing a low-carbon hydrogen production hub at Easington in East Yorkshire. Under the plan, the Centricaoperated area at Easington could transition to a low carbon hydrogen production hub over the coming decade.

Equinor also announced its interest in developing gigawatt scale floating offshore wind in the Celtic Sea, with the upcoming Celtic Sea floating wind seabed leasing round in view. As the developer and soon to be operator of two of the world’s first floating offshore wind farms, Equinor views new floating opportunities in the Celtic Sea with great interest. The Crown Estate is planning a seabed leasing round in the Celtic Sea in 2023.

“We are committed to industrialising floating offshore wind and the Celtic Sea is an optimal region for further development of this important technology,” said Catherine Maloney, Head of Business Development, UK Offshore Wind, at Equinor.

16

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US ENERGY REVIEW

By Tsvetana Paraskova Image: Manuel Balce Ceneta/AP

US oil and gas producers and refiners reported strong third-quarter results, drawing renewed criticism from President Joe Biden, while inventories of distillate fuel in America are at their lowest in decades just as the winter heating season begins, and US oil supply growth could be lower than earlier estimates.

www.ogv.energy I December 2022

US President Criticises Record Oil & Gas Earnings President Biden said at the end of October that oil and gas supermajors – which had made $100 billion in profits in the last six months – were “profiteering” from the Russian invasion in Ukraine and not investing enough to bring down petrol prices in the United States.

“I think they have a responsibility to act in the interest of their consumers, their community, and their country; to invest in America by increasing production and refining capacity.

Because they don’t want to do that. They have the opportunity to do that — lowering prices for consumers at the pump,” President Biden said.

“You know, if they don’t, they’re going to pay a higher tax on their excess profits and face other restrictions. My team will work with Congress to look at these options that are

available to us and others. It’s time for these companies to stop war profiteering, meet their responsibilities to this country, and give the American people a break and still do very well.”

President Biden’s comments came a week before the US midterm elections, in which voters were widely expected to be influenced by the high petrol and energy prices and the state of the economy.

Responding to President Biden’s remarks, the American Petroleum Institute (API) released a statement from President and CEO Mike Sommers, who said, “Rather than taking credit for price declines and shifting blame for price increases, the Biden administration should get serious about addressing the supply and demand imbalance that has caused higher gas prices and created long-term energy challenges.”

“Today, the President proposed to raise taxes on the U.S. natural gas and oil industry that is competing globally to produce the fuels

US Americans need every single day. Oil companies do not set prices—global commodities markets do. Increasing taxes on American energy discourages investment in new production, which is the exact opposite of what is needed,” Sommers added.

“American families and businesses are looking to lawmakers for solutions, not campaign rhetoric,” the API’s president and CEO noted.

US Distillate Stocks at Record Lows US inventories of diesel and heating oil have been below averages this year, and now sit at their lowest level for this time of the year since 1951, just as the heating season started and the EU embargo on Russian oil product imports is set to come into force in February 2023.

The historically low stocks have stoked a much steeper increase in diesel prices than the smaller rises in petrol and crude oil prices this year. Since diesel is the primary fuel of the economy and long-haul transportation, the high diesel prices continue to fuel inflation.

In a November overview of the diesel market in the United States, the US Energy Information Administration (EIA) said that strong demand for diesel had led to high prices and tight inventories going into winter. In October 2022, the United States had just 25 days of supply of distillate fuels, the fewest since 2008, according to the administration. To compare, the stocks of diesel in the United States averaged 34 days between 2017 and 2021.

economist Dean Foreman wrote in API’s latest Monthly Statistical Report in November.

“Overall, the October data should demonstrate to energy policymakers that oil, natural gas and natural gas liquids have remained essential to U.S. economic activity and consumer health – as winter begins, OPEC has implemented its announced November production cuts and the Russia G7 price cap plus EU sanctions risk disruptions to global oil markets,” API’s Foreman wrote.

Moreover, households in the US Northeast who rely on heating oil for space heating will see 27% higher bills this winter compared to last winter, the EIA said in its Winter Fuels Outlook in October.

“Our forecast for heating oil margins this winter reflects price pressures that have currently been affecting the U.S. distillate market, including low inventories, low imports, and limited refining capacity,” the EIA said.

Demand for distillates, mainly diesel fuel and heating oil, increased by 12.0% month on month in October despite indications of weaker freight shipping by truck, API’s chief

Overall, US petroleum demand of 20.3 million barrels per day (bpd) in October was marked by the second highest demand for “other oils” (that is, naphtha, gasoil, propane/ propylene) on record since 1965, as well as a 12% monthly increase for distillates. Refining throughput and capacity utilization rates rose to their highest levels for the month of October since 2018, per API’s estimates.

US petroleum demand was solid at 20.3 million bpd in October and also 20.3 million bpd on average for the first 10 months of 2022. The year-to-date average was within 1.3% of its highest level over the past five years.

US petroleum net exports rose to 2.1 million bpd, the highest for any month on record since 1947, according to API. “Overall, the October data should demonstrate to energy policymakers that oil, natural gas and natural gas liquids have remained essential to U.S. economic activity and consumer health – as winter begins, OPEC has implemented its announced November production cuts and the Russia G7 price cap plus EU sanctions risk disruptions to global oil markets,” API’s Foreman wrote.

US Oil Production Growth Slows Down, Gas Output Surprises to the Upside Constraints in the oilfield services sector are set to slow US oil production growth, Enverus Intelligence Research (EIR) said in a report in the middle of November. EIR cut its forecast for US production growth, due to the headwinds created by oilfield services limitations, the risk of recession, and reduced performance from wells drilled recently in the Permian Basin.

Reduced refining capacity in the United States and globally since 2020 is one of the main reasons for low distillate inventories in the United States, the EIA said.

Distillate fuel consumption this year through August remained below pre-pandemic levels but was higher than in 2020. The US Northeast—the combined New England and mid-Atlantic regions—has had even tighter inventories than the US average. Lower inventories have contributed to rising prices in the region.

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“In U.S. gas markets, mild weather through the first half of November has helped storage build, lifting inventories to approximately 3.6 Tcf before winter withdrawals start. On average for winter, we expect a storage deficit to the five-year average of 170 Bcf with prices at $5.30/MMBtu,”

EIR slashed its Lower 48 oil production forecast, and now expects growth of around 450,000 bpd end-to-end for 2022 and 560,000 bpd growth for 2023.

said Jonathan Snyder, report author and a vice president at EIR.

The research firm expects the gas inventory deficit to flip to a surplus by the early summer of 2023, further reducing prices toward $3.50/MMBtu until 2026.

US natural gas supply growth has surprised on the upside, touching 100 Bcf/d sooner than anticipated, EIR said, anticipating now strong growth for 2022 at around 3.4 Bcf/d.

“In U.S. gas markets, mild weather through the first half of November has helped storage build, lifting inventories to approximately 3.6 Tcf before winter withdrawals start. On average for winter, we expect a storage deficit to the five-year average of 170 Bcf with prices at $5.30/MMBtu,” said Jonathan Snyder, report author and a vice president at EIR.

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MIDDLE EAST Energy Review

By Tsvetana Paraskova

OPEC published its annual report with estimates of global energy demand through 2045 and it cut again its demand growth outlook for this year and next, while the largest state oil and gas firms in the Middle East signed major contracts to expand their production and processing capabilities.

OPEC Lowers 2022-2023 Oil Demand Growth Estimates OPEC again revised down its global oil demand growth for this year and next in its Monthly Oil Market Report (MOMR) in November, citing significant global economic uncertainties in the coming months.

The organization led by Middle Eastern producers revised down each of its 2022 and 2023 oil demand growth forecasts by 100,000 barrels per day (bpd) from the previous month’s estimates due to China’s still-strict COVID policy and economic challenges in Europe.

“The significant uncertainty regarding the global economy, accompanied by fears of a global recession contributes

www.ogv.energy I December 2022

We’re always looking for new ways to add value and routinely introduce new technological solutions to make service delivery even simpler, smoother, faster.

to the downside risk for lowering global oil demand growth. In addition, China’s strict adherence to the ‘zero COVID-19 policy’ adds to this uncertainty, making the country’s recovery path even more unpredictable,” OPEC said.

This year, global oil demand growth is expected at 2.5 million bpd in 2022, OPEC said after slashing the fourth-quarter demand projections by nearly 400,000 bpd.

Total oil demand is set to average 99.6 million bpd in 2022, with developed economies in the Americas seeing the highest rise in demand, led by the US on the back of recovering gasoline and diesel demand, the cartel said. Light distillates are also projected to support demand growth this year, OPEC added.

For 2023, OPEC now expects oil demand growth at 2.2 million bpd, down by 100,000 bpd from the growth expected in the October report. World oil demand is set to average 101.8 million bpd, “supported by expected geopolitical improvements and the containment of COVID-19 in China,” according to OPEC. Next year, US demand is expected to exceed 2019 levels, thanks to a recovery in transportation

fuels and light distillate demand. However, OECD Europe and the Asia Pacific are not expected to rise above 2019 consumption levels, the cartel said.

“While risks are skewed to the downside, there exists some upside potential for the global economic growth forecast.

This may come from a variety of sources.

Predominantly, inflation could be positively impacted by any resolution of the geopolitical situation in Eastern Europe, allowing for less hawkish monetary policies,” OPEC noted.

OPEC’s World Oil Outlook: The world needs to add on average 2.7 million boepd annually to 2045 In the World Oil Outlook (WOO) 2022 with projections through 2045, which OPEC launched at ADIPEC, the organization expects the world economy to more than double in size, and global population to rise by 1.6 billion between now and 2045.

Global primary energy demand is forecast to continue growing in the medium- and long-term, jumping by 23% in the period to 2045. Therefore, all forms of energy will be needed to address future energy needs, OPEC said, noting that the world needs to

MIDDLE EAST annually add on average 2.7 million barrels of oil equivalent a day to 2045.

ADNOC set a new Upstream Methane Intensity target of 0.15 percent by 2025—the lowest such target in the Middle East.

With the exception of coal, all major types of energy will see growth through 2045, according to OPEC. Moreover, oil is expected to retain the largest share in the energy mix throughout the outlook period, accounting for almost a 29-percent share in 2045. But renewables – mainly solar, wind, and geothermal energy – are set to expand by 7.1 percent per year on average, significantly faster than any other source of energy.

The oil-exporting nations’ organization expects that globally, oil demand is projected to increase from almost 97 million bpd in 2021 to around 110 million bpd in 2045. Non-OECD countries will drive oil demand growth, expanding by nearly 24 million bpd to 2045, whereas the OECD demand would decline by over 10 million bpd between 2021 and 2045. India is set to be the largest contributor to incremental oil demand, adding around 6.3 million bpd to 2045.

To meet demand, the global oil sector will need cumulative investment of $12.1 trillion in the upstream, midstream, and downstream through to 2045, equating to over $500 billion each year, OPEC said.

ADNOC’s methane intensity target means the company will be ranked in the Gold Standard category, by the Oil and Gas Methane Partnership 2.0 (OGMP 2.0), a multi-stakeholder initiative launched by the United Nations Environment Program (UNEP) and the Climate and Clean Air Coalition, the company said.

“Aramco’s long-term view is that oil demand will likely continue to grow for the rest of the decade, as will the world’s need for more affordable, reliable, and sustainable energy,” Aramco said in the earnings report.

Saudi Aramco Boosts Profit, Generates Record Free Cash Flow Saudi Aramco, the Saudi state giant which is the world’s biggest oil firm in terms of production and market capitalization, reported in November a third-quarter net income that surged by 39% year over year to $42.4 billion, while free cash flow surged to a record $45.0 billion from $28.7 billion for the third quarter of 2021.

“Market conditions slightly softened in the third quarter as continued economic uncertainty driven by inflationary pressures slowed crude oil demand growth. Despite this, Aramco delivered strong earnings and record free cash flow reflecting its ability to generate significant value through its low-cost Upstream production and strategically integrated Downstream business,” Aramco said in the earnings report.

“Aramco’s long-term view is that oil demand will likely continue to grow for the rest of the decade, as will the world’s need for more affordable, reliable, and sustainable energy,” the Saudi oil giant added.

Deals and Contracts Aramco and IBM announced preliminary plans for a strategic collaboration to establish an Innovation Hub in Riyadh, Saudi Arabia. The collaboration aims to use hybrid cloud, AI, and quantum computing to address objectives including circular economy, materials science, supply chain, sustainability, security, and digitization.

In the United Arab Emirates (UAE), Abu Dhabi National Oil Company (ADNOC) announced several deals and contracts over the past month.

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ADNOC and GAIL (India) Limited signed at the end of October a Memorandum of Understanding to explore collaboration opportunities in liquefied natural gas (LNG) supply and decarbonisation, including short and long term LNG sales agreements. The agreement also includes potential optimization of LNG trading activities, the review of joint equity investments in renewables, and the monitoring of greenhouse gasses for LNG cargoes, to support low carbon LNG supplies.

In early November, ADNOC awarded three framework agreements valued at $4 billion for integrated drilling fluids services (IDFS) to support the ongoing expansion of its production capacity.

In the middle of November, ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced the successful closing of its acquisition of Zakher Marine International (ZMI), an Abu Dhabi-based owner and operator of offshore support vessels, with the world’s largest fleet of self-propelled jack-up barges. Financial details of the transaction were not disclosed.

The acquisition extends ADNOC L&S’s regional footprint, broadening its services to include critical support assets for offshore operations, including ZMI’s maiden offshore renewables project in China.

QatarEnergy announced it had selected ConocoPhillips as its third and final international partner in the North Field South (NFS) expansion project, which comprises two LNG mega trains with a combined capacity of 16 million tons per annum (MTPA).

In Qatar, state firm QatarEnergy announced it had selected ConocoPhillips as its third and final international partner in the North Field South (NFS) expansion project, which comprises two LNG mega trains with a combined capacity of 16 million tons per annum (MTPA). Per the agreement, ConocoPhillips will have an effective net participating interest of 6.25% in the NFS project, out of a 25% interest available for international partners. QatarEnergy will hold the remaining 75%.

The Qatari giant also signed in November the longest gas supply agreement in the history of the LNG industry with China Petroleum & Chemical Corporation (Sinopec) for the supply of 4 million tons per annum (MTPA) of LNG to China for 27 years. The contracted LNG volumes will be supplied from QatarEnergy’s North Filed East (NFE) LNG expansion project expected to come online in 2026. The agreement with Sinopec is also the first long-term LNG offtake agreement from the NFE Expansion project, and comes on the heels of QatarEnergy’s conclusion of the formation of eight international partnership agreements for the North Field East and North Field South (NFS) projects, which are expected to come online in 2026 and 2027, respectively.

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WORLD PROJECTS

ENERGY PROJECTS MAP

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1 CHINA

Wushi Oil Field Development CNOOC

$320 million Studies are underway to capture carbon dioxide emitted from power generation at the nearby Datang Leizhou power plant and reinject it into reservoirs at the Wushi oilfield which is currently under development. CNOOC stated that the scheme will be able to store 15 million tonnes of carbon dioxide and enhance oil recovery by 2 million tonnes.

2 USA

4 ANGOLA

Greater Tortue-Ahmeyim Phase 2

Block 15 Redevelopment Project

New Fortress Energy

BP

ExxonMobil

Sembcorp Marine has been awarded a master service agreement for the engineering, conversion, topside fabrication and integration of two Sevan cylindrical drilling vessels into floating LNG facilities. The agreement would include the fabrication and integration of LNG topside modules. The delivery of the first FLNG liquefaction facility is estimated to be in H1 of 2024.

Each FLNG facility will have a capacity 1.4 mtpa.

Joint venture partners BP, Kosmos, Petrosen, SMH and the governments of Senegal and Mauritania are in advanced discussions on the development concept for Phase 2 development of the field. The partnership will select a solution which leverages the infrastructure from Phase 1 and allows the partnership to access attractive gas marketing opportunities.

ExxonMobil has made a discovery at Bavuca South-1 Exploration well, which is part of the redevelopment project. The well encountered 30 metres of high-quality, hydrocarbonbearing sandstone. It is located approximately 365 kilometres northwest off the coast of Luanda and was drilled in 1,100 metres of water by the Valaris DS-9 rig. The discovery is the 18th made in Block 15, and the first since 2003.

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www.eicdatastream.the-eic.com www.ogv.energy I December 2022

3 SENEGAL

Fast LNG 1 Export Terminal

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WORLD PROJECTS 5 ISRAEL

Block 12 – Zeus Discovery Energean

$250 million Energean announced that it had made a commercial discovery with the Zeus exploration well.

Preliminary estimates indicate that the well has discovered recoverable natural gas resources of 466Bcf. The operator is undertaking post-well analysts of the data collected during drilling.

9 TIMOR LESTE TL-SO-19-16 PSC: Chuditch Gas Discovery SundraGas The operator has increased the estimated recoverable gas volumes at the field to 3.6 Tcf. The development concept for the field comprises a floating LNG vessel connected to several offshore platforms at the field.

The development would also include a 140-kilometre carbon dioxide pipeline would connect the field to the Bayu-Undan offshore platform, which is planned to become a carbon capture and storage facility.

6 BRAZIL

Bijupirá-Salema Wells Decommissioning

7 GUYANA

Uaru Oil Field Development Project

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8 AUSTRALIA

Scarborough Gas Field Woodside

Shell

ExxonMobil

$5.7 billion

Helix Energy Solutions has been awarded a contract by Shell for a well plugging and abandonment campaign at the Bijupirá-Salema oil fields. Helix will employ the Q7000 DP3 well intervention vessel for the work.

The contract will start in 2024 and take 12 months.

Modec has been awarded the FEED contract for the Uaru FPSO. The contract is expected to lead to an EPCI award once the project is approved by the government and secures a final investment decision (FID). Should Modec take forward the EPCI it will be the first FPSO contract in Guyana not to be awarded to SBM Offshore.

COSCO Shipping Heavy Industry has started building the hull of the large floating production unit (FPU) destined for Scarborough gas field.

It is mentioned that the hull is set for delivery in H2 2024. It is stated that McDermott has awarded the floater’s topside engineering, procurement and construction work, and the hull-topsides integration to Qingdao McDermott Wuchuan Offshore Engineering (QMW).

$50 million

10 OMAN Marmul and Grater Sarqar Field – Integrated Drilling Services Agreement PDO

$500 million Petroleum Development Oman (PDO) awarded Weatherford International a five-year contract worth more than $500 million to provide Integrated Drilling Services in the Marmul and Grater Saqar fields. The operations are expected to start in the fourth quarter of 2022. This award builds on Weatherford's ongoing collaborations with PDO, where Weatherford will deliver 700+ wells in the Marmul and Grater Saqar fields.

$6 billion

11 MEXICO

Trion Offshore Oil Field Woodside

$11 billion

12 INDONESIA Banyu Urip Infill Drilling Campaign ExxonMobil

Woodside has launched a tender for the supply of the semi-submersible production platform and the floating storage and offloading (FSO) unit at the field. The semi-submersible platform is expected to have an oil processing capacity of 100,000b/d. A final investment decision for the project is expected in 2023.

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$240 million ExxonMobil is planning on spending US$240 million for the planned infill drilling and clastic appraisal program at the Banyu Urip field. The planned program, which involve the drilling of seven infill wells, is planned to commence in 2023.

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RISK & SAFETY MANAGEMENT

Risk Management

IN THE OIL & GAS INDUSTRY

By Tsvetana Paraskova

The energy industry, which has always paid special attention to risk management to ensure safe and reliable operations of oil and gas assets, has faced this year new challenges in managing risks after the Russian invasion of Ukraine.

Risk management – all the processes and precautions to ensure continuity and stability of production and all other operations – now has to cope with increased physical threats to infrastructure, higher risks of cyber attacks, and the impacts of highly volatile prices and sudden tax changes on financial performance. In addition, in the extreme market volatility and very high uncertainty regarding both supply and demand of oil and gas in the near term, companies face more work on managing financial and supply and demand risks.

www.ogv.energy I December 2022

Risks Have Multiplied Since the Russian Invasion of Ukraine

price volatility. That is certain to create more work at risk management departments.

“In my nearly 30 years of looking at oil markets, I can't think of a time when geopolitically there was as much uncertainty over potential high and low points in terms of prices, supply and demand,” Raad Alkadiri, Managing Director, Energy, Climate & Resources, at Eurasia Group, said in a KPMG insight about the top risks facing the oil and gas industry this year.

The war in Ukraine has had a direct impact on the oil and gas markets, as Russia stifled pipeline gas supply to Europe while the EU, the UK, and the US are banning imports of Russian crude oil and products by sea.

The Russian invasion of Ukraine has created a lot of uncertainties about supply, while slowing global economic growth and China’s zero-COVID policy continue to weigh on the demand outlook for the end of this year and well into 2023.

So this year and next, the global energy industry has to contend with heightened geopolitical risks on top of uncertain global economic growth and increased oil and gas

Priorities Have Changed Governments are now looking first to ensure security of supply amid the energy crisis. Just a year and a half ago, decarbonization was the top priority of developed nations and energy investors. But the Russian invasion in Ukraine, the first war fought in Europe since World War II, has drastically changed priorities.

“The world needs a Paris-style agreement for the energy trilemma – not just emissions.

That’s what I took away from this year’s ADIPEC conference in Abu Dhabi,” bp’s chief executive Bernard Looney said in early November.

RISK & SAFETY MANAGEMENT

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“Yes, societies need an energy system that is lower carbon – that’s imperative. But they also need one that is secure and affordable. And unless we focus on all three parts – security, affordability AND lower carbon – we won’t build an energy system that works,” Looney added.

Physical Risks To Assets Grow Along with working to meet current oil and gas demand, companies globally have increased vigilance and are monitoring energy assets more than ever as a precaution to increased risks to their physical integrity. This is especially true for oil and gas assets offshore Norway, especially after the explosions at the Russiato-Germany gas pipelines Nord Stream 1 and Nord Stream 2 in the Baltic Sea, just outside Danish and Swedish waters. The explosions were caused by sabotage, according to the early findings of the ongoing investigation, Sweden said in the middle of November.

After the explosions, which occurred at the end of September, Norway – Western Europe’s largest producer of oil and gas – posted in early October soldiers from its Home Guard to protect energy infrastructure. Soldiers from the Home Guard provide increased security at petroleum facilities in the counties of Rogaland, Vestland, and Møre og Romsdal, the Norwegian Armed Forces said.

The deployment of the soldiers comes after Norwegian police requested assistance from the Army to prevent incidents. The Army is ready to post soldiers at more facilities if the police request it, the Armed Forces said.

Norway started increasing security at its energy facilities after spotting drones flying over oil and gas assets and after the explosions on the lines of the Nord Stream pipeline in the Baltic Sea. On September 26, the Petroleum Safety Authority Norway (PSA) of Norway urged increased vigilance by all operators and vessel owners on the Norwegian Continental Shelf, after companies operating offshore Norway

had recently given warnings or notifications of a number of observations concerning unidentified drones or aircraft close to offshore installations.

Cyber Risks Have Increased Since the end of September, the Norwegian police have investigated several reports of drones of unknown origin flying over oil or gas processing plants and facilities in the country.

Norway has arrested several people in connection with drones spotted over facilities in the country, Prime Minister Jonas Gahr Støre said at the end of October.

Norway’s police and national security are working together to defend the country against cyber threats, he added.

“It is a real and serious threat, including to the oil and gas industry,” the prime minister added.

Half a world away, in Saudi Arabia, the world’s biggest oil firm in terms of both production and market capitalisation, Aramco, says that cyber security risks are now one of the biggest threats.

“Another emerging challenge is cyber-security.

Cyber-attacks are one of the top risks we face at Aramco – on a par with natural disasters or physical attacks,” Saudi Aramco’s chief executive officer Amin Nasser said during a speech at the Global AI Summit 2022 in Riyadh in September.

“But while these attacks are growing in scale and severity, AI is helping fend off some of the threat.

So our efforts should not only focus on greater efficiency or deeper customer insights, but also on security and resilience,” Nasser added.

“We have deployed machine learning techniques to predict and prevent safety hazards, monitor emissions, avoid breakdowns, optimize energy use, and predict potential cyber-threats,” Aramco’s top executive noted.

In Europe, cyber risk remains a major vulnerability, according to Akshay Joshi, Head of Industry and Partnerships, Centre for Cybersecurity, World Economic Forum.

“Experts warn that should the energy sector come under significant and sustained cyberattacks, the consequences could be rather devastating. The ongoing war has brought new risks, physical and cyberattacks, often combined as a hybrid threat,” Joshi wrote at the end of October.

Lindy Cameron, CEO of the UK’s National Cyber Security Centre, said at the end of September, “we shouldn’t assume that just because the conflict has played out in one way to date, it will continue to go the same way.”

“There is still a real possibility that Russia could change its approach in the cyber domain and take more risks – which could cause more significant impacts in the UK,” Cameron said in a keynote speech at the Chatham House security and defence conference 2022.

The world and the energy industry entered a new era this year after the Russian invasion of Ukraine. Risk management will be paramount to all energy organisations to protect themselves against financial, physical, supply-demand, geopolitical, and cyber security risks.

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RISK & SAFETY MANAGEMENT

RISK MANAGEMENT An essential element of any Management System

QHSE Aberdeen, based in Westhill, Aberdeen, provide consultancy and advisory services across a range of sectors including oil and gas, food and drink and Information Technology, and helps organisations develop and maintain their business management systems to meet ISO standards.

Risk management is an essential element of any Management System. ISO standards, require an organisation to adopt a “riskbased thinking approach” to determine the requirements to efficiently mitigate the risks associated with the implementation and maintenance of a management system.

This approach allows the organisation to determine the critical processes and extent of documented information required to develop an effective and mature system.

Risk-based thinking Risk is the effect of uncertainty, which might be positive or negative. Positive effects may lead to opportunities which could be exploited. On the other hand, negatives effects may have a damaging or harmful impact on the organisation, its people, or its property.

www.ogv.energy I December 2022

ISO management standards now generally contain the requirement to plan and implement actions to address risks and opportunities.

The FMEA (Failure Mode Effects Analysis) method, is an example of a “risk-based thinking” technique. It is a step-by-step approach which identifies potential failures i.e., initial risks, in tasks including design as well as in process, product or service, and allows the organisations to better control, monitor, and measure the residual risk, within the system.

In business, the aim will be to optimise the taking of risks, not to eliminate them, thus achieving improved results and preventing negative effects. It is Organisations only by taking some degree of that have identified risk that an organisation will be able to survive and grow. risks and committed

Although the organisation is not required to have a formal risk management to the effective programme, the principles The adoption of an ISO management of those contained in ISO 31000 (Risk Management System is a management: Principles & strategic decision that helps risks will be better Guidelines) provides useful an organization to improve prepared to deal information for those seeking its overall performance and with them a more formal approach to risk to provide a sound basis for its management, perhaps as part or sustainable development initiatives. overall governance arrangements. As a Many organisations implement a minimum, an organisation will need to: formal Quality management system after finding that their customers (in both the private and public sectors) want assurance that the products and services they are • Identify risks and opportunities looking to purchase or obtain will meet their requirements for quality.

• Analyse and prioritise risks and opportunities, deciding what is and is If your organisation could benefit from an not tolerable ISO Management System, then give the • Plan how to address risks by, i.e , experts a call, founded by David Rusling avoiding them altogether, mitigating and Angela Scott in 2015, QHSE Aberdeen negative effects, accepting the risk in have experienced a significant increase in order to pursue an opportunity, or sharing demand for Implementation of Management with another party, such as though Systems and all other QHSE services, insurance including their popular ISO INTERNAL AND LEAD AUDITOR COURSES. • Implement planned actions • Check the effectiveness of the actions taken

A strong team of Lead Auditors with a broad range of experiences and a wealth of knowledge are on hand to answer all your questions.

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. www.qhseaberdeen.com

RISK & SAFETY MANAGEMENT most logical and safe way to clean tanks. The number of man hours onsite is more than halved and the requirement for rescue teams outside the tank is greatly reduced.

SOLVING THE CHALLENGES

Thanks to our highly standardised and selfcontained operation process, the cleaning schedule is very precise, allowing clients to reasonably estimate the amount of time needed for cleaning any given tank.

of safety, manpower and time

Ensuring sound working practices is our highest priority at Re-Gen Robotics, to strive to protect people and the environment. Our technological innovations and new ways of thinking are all revolutionising the approach we are taking to eliminate accidents, harm to people and to reduce the environmental impact of our operations.

Re-Gen Robotics tank cleaning systems solve all the problems of safety, manpower, time and effective utilisation of resources connected with cleaning of oil tanks. Productivity is enhanced and tanks can be brought into operation again more quickly.

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Our unique, closed loop cleaning system can reduce cleaning time by up to 70 per cent, significantly decreasing downtime and loss of production whilst storage tanks are not operational. The robots have the power to clean the largest oil tanks with minimum hassle.

We understand the complexities of the environments and our customers’ high value assets and facility and with in-depth project experience in the most hazardous environments we are equipped to meet and exceed all our clients’ expectations.

The entire tank cleaning operation is recorded on CCTV from the ATEX cameras and is made available to the client upon completion of the works. All files are date and time stamped to ensure the process is traceable for auditing purposes.

Using Re-Gen Robotics tank cleaning solutions has very clear advantages for tank terminals; Personnel who carry out manual tank cleaning are exposed to physically and psychologically demanding shifts and increasing work demands and constraints, over and above those experienced by your average worker. The amount of man hours spent onsite on these activities, directly influences the number of reported incidents and injuries.

The innovations we are developing are based on existing and evolving customer needs, we’ve set a new bar in safety processes and are receiving excellent client feedback on service, quality and delivery.

Accordingly, using robotic equipment to carry out works in hazardous confined spaces is the

For more information and to see our robots in action, visit www.regenrobotics.com

When it comes to high hazard safety, nothing should be left to chance, at Re-Gen Robotics, we’re providing a realistic and proven alternative to ‘man entry’ tank cleaning.

MANAGING RISK ... WITH INTEGRITY

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VISUALISATION: GIVING YOU THE EDGE IN RISK MANAGEMENT Using Innovative Digitalisation Solutions, we capture and create a comprehensive digital twin of your asset and our secure ZynQ visualisation software will integrate with your existing data and systems to centralise and streamline: • SAFER OPERATIONS • RISK IDENTIFICATION AND REDUCTION • MANAGEMENT OF CHANGE • PREDICTABILITY ON COSTS AND SCHEDULE • OPERATIONAL EFFECTIVENESS • BUSINESS CONTINUITY

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RISK & SAFETY MANAGEMENT

How a policing career

LED TO PREVENTING INDUSTRY INCIDENTS

By Alan Smith, Head of Investigations at STC INSISO

A question I’m frequently posed is: “What’s the difference between investigating a crime like murder and investigating a workplace fatality?”

The primary objective in solving a crime is simple - what occurred and who was responsible. The question of why the offender did what he or she did may be interesting, but not an essential element of the investigation.

Conversely, in an industrial setting, what occurred remains important, but the key objective is in seeking to understand why. Unlike a crime, there is no guilty intent in a workplace incident, so the investigative objective is to understand why on a particular day, a task or activity that typically gets performed well failed, often spectacularly and tragically.

What the Circus

TAUGHT US

By David Jamieson, Salus Technical

How often do you think there is a hydrocarbon release offshore each year? How many offshore inspections significantly fall below the standard expected by the regulations?

The answers may shock you. There is a release on average once every three years. One in four inspections find aspects significantly under-par.

Towards the end of my policing career, I had exposure to numerous offshore fatalities where we supported the HSE in carrying out investigations. I observed a pattern in that these incidents did not happen without any warnings or signals.

These root causes, if left untreated, will at some point become active and materialise to cause harm somewhere in the organisation.

Whilst this is predictable, where exactly they will appear, and what type and level of harm they will inflict, is not. Why therefore, would you not want to proactively identify and root them out?

There are a few rules worth sharing about root causes:

Often in the preceding weeks, months, even years, there will have been near-miss incidents, failed inspections, or audit non-conformances which were effectively red flags that sadly got overlooked and became lost.

• They never work in isolation but always team up.

• They can manifest themselves in varying incident types such as safety, reliability, or quality.

Alan Smith

Root Cause Analysis (RCA) is an industry wide technique that is typically utilised reactively when a serious or high potential incident occurs. These events are thankfully rare, so likewise, the application of RCA is similarly rare. A good thing you may say but I have an opposing view.

I obviously don’t want to see more frequent incidents, but I do want to see more frequent and smart application of RCA. At any given time, an organisation will have what are known as dormant root causes lurking or hiding in its

• The level of damage they inflict is dependent on context and circumstance.

STC INSISO’s root cause learning tool COMET® differentiates itself in that it is proactive in the inspection and audit space, versatile in its application to multiple incident types, and scalable in that it can be applied efficiently in high volume, low consequence incidents.

Consider COMET® as the perfect organisational preventive medication to turn your Root Cause Analysis into Root Cause Learning.

To find our more, visit: www.cometanalysis.com

Enter Joseph Strauss. If his project only killed 34 people, it would've been deemed a success, from a safety perspective. He was responsible for building the Golden Gate Bridge in 1933. At the time, the standard for safety was that for every $1 million you spend, you should expect one fatality. Having spent $35 million, they came to reason that those 34 deaths would be a relatively small fatality figure.

Joseph had other ideas, though. He wanted this project to be the exception despite the age-old excuse of lack of money to invest in improving safety standards. He introduced the compulsory use of wearing a hard hat, implemented strict site discipline, and not only this, but this was the first to introduce safety nets after a visit to the local circus had inspired him. The nets were a success, soon patented by the company and used throughout construction projects even to this day, almost 90 years later.

Despite this, when surveyed, two-thirds of managers in the energy industry revealed that there had been safety training cancelled or delayed at their company due to the pandemic. We know that the pandemic has also had a negative impact on competency management and maintenance backlog.

But this story can have a happy ending. Every single one of us has the power to make a positive process safety impact and reduce the risk of major accidents.

systems, operations and processes. Consider them akin to an organisational virus or a latent medical condition.

Another important and more relevant question which I’ve been asked is: “Crime Prevention is a long-established strategy in UK Policing, but is there a similar strategy in industry for Incident Prevention?”

Repeat incidents, and the regret they bring, are the curse and the fear of industry.

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Fortunately, we are working at a time where there are far higher safety standards, but at a time not without incident. Unfortunately, many thousands of lives have been lost following major accidents across many industries. I like to think about Joseph Strauss and the way he sought to raise the bar and improve, to never accept that a small number of fatalities is okay.

He was able to look at the risk, understand what the risk was, and then take the action needed to raise the bar. In Salus Technical’s online course, we invite attendees to also think of how they can emulate Joseph Strauss' mindset and raise the bar.

We shouldn’t wait for someone else to take action. Every single one of us has the power to make that change to prevent major accidents.

19 men fell into the nets accidentally, yet none of them died. That's a step change in safety.

Salus Technical have built an online Process Safety Awareness course that gives individuals and companies the tools that they need to help prevent major accidents. The training is online and covers all of the key aspects of Process Safety and gives actionable advice that can be applied from day one.

Salus Technical is a process safety software and consultancy firm which works with customers to help them understand and manage the risks of major accidents For more information visit: salus-technical.com

28 INNOVATION & TECHNOLOGY ZONE SPONSORED BY

The UK’s largest innovation funding consultancy Leyton is an international consulting firm that helps businesses leverage financial non-dilutive incentives to accelerate their growth and achieve long lasting performance.

www.leyton.com

MANAGE THE SAFETY, TRAINING COMPLIANCE, LEARNING, SKILLS GAPS, AND COMPETENCE OF YOUR WORKFORCE

At the core of the 3t Transform platform is a range of connected cloud-based software tools, designed to manage the safety, training compliance, learning, skills gaps, and competence of your workforce. Coupled with our pioneering, cost effective, learning technologies that improve workers’ knowledge, skills, and performance, our platform enables your workers to constantly improve through self-initiated learning, which can be accessed anytime, anywhere.

“We offer a complete solution for workforce development and training, ensuring our customers are at the heart of every solution we provide. We have taken a consultive approach, listening to your biggest challenges, and built technology-driven solutions that create safer, smarter workers and increase your operational efficiency.”

Training and Competence Management Software Our platform of Management Software is packed full of powerful features that enable the timely delivery of your workforce training, all from the convenience of one central, cloud-based platform. Our software includes state-of-the-art Training Management, Learning Management and Competence Management Systems, where you can simply and effectively manage and improve the training, compliance, safety and competence of your entire workforce.

www.ogv.energy I December 2022

We simplify your access to these complex incentives. Our combined teams of highly skilled Tax and Technical specialists,

enhanced with cutting-edge digital tools developed internally, maximise the financial benefits for any type of businesses.

With compliance always front of mind, we have been delivering optimal services for our clients for over 24 years. This provides peace of mind that you will always receive the maximum benefit, without taking risks.

Video-learn: Reducing contact time and safeguarding the health of employees during COVID-19 has been vital. Cloud-based learning has proven critical in continuing training and learning during this time and in an ever-changing world businesses will increasingly rely on distance learning in the future.

Blended Learning Technologies E-learn: We have thousands of off-the-shelf, industry-accredited E-Learning courses available at 3t Transform, accessible on demand, 24/7, on mobile, desktop or tablet.

Each course is SCORM compliant and includes a mix of theory and assessments to enhance engagement.

“We are specialists in creating bespoke content, tailored to your exact needs, and have a proven track record of designing and delivering engaging learning content that improves knowledge retention.”

Linsey Horberry, Head of Learning and Development Micro-learning app - R3: Our ground-breaking R3 platform is based on the principles of spaced repetition learning and delivers microlearning quizzes tailored to each worker.

Designed to repeatedly test on-the-job skills and knowledge, this helps to reduce future training costs, increase learner engagement through gamification and improve knowledge retention. R3 also offers powerful reporting capabilities, providing detailed feedback about each learner.

R3 has already been used by high profile companies like McDonalds and TUI, to name a few.

Virtual-reality training and digital twin creation: Our virtual reality platform has transformed both training and learning in the workplace.

We specialise in creating realistic, immersive learning environments which replicate realworld scenarios and procedures allowing your workers to test their skills and knowledge in a safe setting.

Video is a great tool for breaking down complex information into bite-sized, simple, easy to understand visuals. Content-rich and engaging video-based learning allows standardised training to be delivered across multiple personnel easily and quickly. Theory backed up by practical demonstrations builds knowledge and pause and replay modules mean delegates can learn at their own pace. 3t Transform also provides multilingual versions for global teams, all accessed via our Learning

Management System.

Augmented Reality: 3t Transform’s AR platform allows you to bring to life digital interactive scenarios or workplace processes in your realworld environment. You then use the AR mobile app to interact with the ‘digital’ scene that can take your learning to a new level of interaction and engagement.

Simulators: We also offer a range of advanced portable simulators, tailored to the oil & gas industry, that allow your workers to test and retest their skills in safety, maximising human performance, competence, and efficiency.

All our simulators connect with the other learning technologies and software for a truly blended learning experience.

“3t Transform is truly transforming training with technology. There is no other business able to provide a holistic technology training solution, vastly decreasing the time taken to demonstrate a compliant and competent workforce while drastically reducing training and associated costs. All the while delivering a proven and robust system that can be accessed anywhere globally with full offline capabilities.”

Sally Finnie, VP

Using our powerful digital twin technology, we can recreate customers assets and sites in exact detail in the virtual world.

This training is unrivalled for engagement and memory retention, “VR can deliver a 75% increase in delegates’ learning retention when compared with standard methods.”

For more information, visit www.3t-transform.com

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OUR DIGITAL INDUSTRY

SPONSORED BY

About Sword Dave Bruce, CEO at Sword, has led the business since 2015, following successfully building other technology businesses serving the energy sector. Here he talks to us about what matters most when building a data-driven business.

www.sword-group.com

As the North Sea’s largest provider of data and digital services, Sword focuses on solving 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 and people engagement, together with modern ways of working to give confidence that the right decision is made every time.

Dave Bruce

A CONVERSATION WITH OUR PEOPLE FOCUSED CEO What is the biggest challenge facing your customers?

All of our customers want to deliver greater value through the deployment of technology.

Whether the aim is to reduce cost, increase productivity, minimise risk, or assure compliance, organisations have to achieve it all whilst still focusing on their core operations. To make things even more challenging this often entails significant business process change, often of processes developed over many years.

Our customers have huge amounts of data and contained within it a wealth of business insight that they need to inform their decision making.

In short, the key is to ensure that any data used by the business is trusted and accessible to the right people at the right time, enabling people to make informed, data driven decisions at a pace that works for the business.

The biggest challenge to achieving this is the global shortage of technology skills, a situation that is currently complicated by a lack of energy sector domain expertise needed to successfully design and implement these solutions.

The industry is finding graduates are moving further afield due to the perceived lack of opportunities in the UKCS and the recent years of turbulence have seen many people tempted away from the sector, with the shift to remote working during Covid only compounding the issue.

How does Sword help solve customers’’ challenges?

The first thing we need to do when helping our customers is listen. All too often suppliers are looking to sell a particular solution or technology. At Sword we firmly believe that the key is to understand the business needs, with the technology deployed being a secondary factor in the decision-making process. Too many people want to sell “the answer” before fully understanding the problem.

We combine digital skills with relevant domain expertise to ensure we provide people who understand our customers’ business and can quickly identify the key issues and propose relevant solutions.

www.ogv.energy I December 2022

Our teams possess highly attractive skills, We strive to keep up to speed with the and we believe that in order to retain rapidly changing technology landscape so them we must provide a highly attractive that our customers don’t need to and to employee proposition. This is something ensure we have the right pipeline of talent that we have invested heavily in this year to support our customer’s ever-changing and will continue to do as we further needs and requirements. As a services develop our people strategy. business it always comes down to the quality of your people, and we are working extremely hard Having been given the "Engaging with Sword to ensure we attract, retain opportunity to develop a and develop our team. career over many years means that you have in the energy sector I access to the those The key factor in our feel strongly that we success to date has must continue to attract working directly on your been the opportunity young talent into our project but the collective for our people to grow sector. and develop inside our knowledge and experience organisation. Career We are currently of our wider team.” development is vital employing record numbers in retaining our people of graduates and school and we continually aim to leavers and offer first-class on provide opportunities to work in the job training to everyone who challenging and rewarding areas of our comes on board. business, providing opportunities for growth and development for everyone who wants it.

In addition to this as part of our buy and build strategy, we will continue to look for What behind-the-scenes benefits complementary acquisitions to round out do customers gain when engaging our offerings.

Sword?

Our core business is technology, and that allows our people to experience a wide range of technology assignments as well as the opportunity to knowledge share across the group ensuring that we provide you with a wellrounded view. Engaging with Sword means that you not only have access to those working directly on your project but the collective knowledge and experience of our wider team.

We are constantly evolving and investing in our people to ensure that we meet their development needs and career goals as well as ensuring our workforce is aligned with the direction in which our customers businesses are evolving.

How are you building the digital workforce of tomorrow?

We are an employer that values talent and strives to give people the opportunity to grow their careers, skills and abilities with us, whilst ensuring we have the right pipeline of talent to support our customers’ evolving needs.

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

When you look around at other technology businesses, what’s different about Sword?

I believe we have created a culture at Sword that is different from many, we have a strong set of core values that ensure we care about our staff and customers. I’m a great believer in treating everyone equally regardless of the position they hold. We encourage our staff to be open and honest at all times.

We class ourselves as a Business Technology solutions provider which means we focus on the business challenge we are trying to solve and bring domain expertise to the party, while many other providers have a product or solution they are trying to promote.

Of course, we’re on a journey and are far from the finished article however every day we strive to make things better and provide a great service to our customers and staff.

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RENEWABLES

CORPORATE PARTNER

www.renewableuk.com

RenewableUK members are enabling a just transtion to a net zero future. Focusing on continuous improvement around the three pillars of our Just Transition Tracker - People, Place and Planet These inspiring companies are a true showcase of the best that our industry has to offer.

WINNERS RECOGNISED For the Inaugural Global Offshore Wind Awards The first Global Offshore Wind Awards took place in October this year, presented by the industry’s leading renewable energy association – RenewableUK. The Awards were an opportunity to recognise organisations and individuals for their outstanding contributions to the sector, celebrating achievements and inspiring others to innovate for the future.

Dan McGrail, CEO of RenewableUK, commented: “When the sheer will and ingenuity of our people is put to the test, we accomplish extraordinary things. We put massive turbines in the middle of the sea to withstand the most extreme conditions, and generate sustainable power which will save the planet and costs less than every one of the alternatives. AND, we get better and better at every year – innovating, creating, inventing whilst giving opportunities to young people all across the country to prosper in our industry. And I reckon that, and so much more of what we do, is worth celebrating!”

We take a closer look at the Award winners and the projects and strategies they implemented that have earned them their accolades.

Offshore Wind Health & Safety, and Wellbeing For Dogger Bank Offshore Wind Farm, Equinor has created and implemented protocols that put health & safety at the very centre of site development to greatly reduce the risk of incidents. This included changes in the design of everything from turbines to foundations and service operation vessels. According to the judges, of particular note was the removal of more than a million offshore lifts over the project’s lifespan, as well as 10 years’ worth of craning. Health & safety has clearly been a priority during planning and execution of the project, embodying industry best practice and driving standards higher.

www.ogv.energy I December 2022

Performance and Reporting Transparency Working with various offshore wind developers, Daniel Smith was the lead for Royal HaskoningDHV’s work on Ensis.

Dan replaced post-content monitoring of offshore wind assets by spreadsheet with the web-based Ensis app, designed to extract information from DCO documentation and auto-generate a commitment register. The use of automation was key to enhancing the quality of post-content monitoring in a simple yet highly effective way.

Social Impact Tony Quinn of Offshore Renewable Energy Catapult has been integral to the social change experienced in the Blythe area, having been involved in several projects.

These include the development of the Blythe STEM Hub, which engages with over 2,500 young people in local schools to promote and support education in relevant topics (science, technology, engineering and mathematics).

Tony has also helped to establish the Energy Central Learning Hub, providing a new education, training and skills facility.

Equality and Inclusivity Another win for Offshore Renewable Energy Catapult, they demonstrated their impact on equality, diversity and inclusion with some

truly inspiring personal journey statements, internal groups and external awards. With seven diversity groups – including interfaith, women and LGBTQ+ Allies – the organisation is a shining example of what it means to champion equality and inclusivity in the modern offshore wind industry.

Offshore Wind Energy Skills EDF Renewables collaborated with Pembrokeshire College to deliver “Destination Renewable” by Gwynt Glas – a two-year course that concludes in a formal qualification for students aged 16 to 18-years-old. A fantastic educational initiative, this project offers a pathway into the low-carbon solution sector for young people with a passion and talent for sustainability and technology. It also serves to help build the next generation of the renewable energy workforce, strengthening relationships between industry and academia.

Supply Chain Innovation This category celebrated the world’s first on-turbine electrical charging point, which was designed, built and tested by MJR Power & Automation, alongside their partners. Such a project facilitates the decarbonisation of the operation and maintenance phase of offshore wind farms, drastically reducing emissions. It is an exceptional example of

RENEWABLES

recognised for taking on and diligently managing crucial but commercially sensitive policies. The judges praised her commitment to her team and the advancement of the industry as a whole.

the kind of innovation and forward-thinking that is driving the green energy market towards an even more sustainable and productive future.

Aspiring Leader Angus Binnian from Vattenfall received this accolade for the “massive amount of enthusiasm and initiative” that he has shown throughout his early career. Even while still studying, Angus became a peer mentor providing wind farm design sessions at local schools and colleges, as well as getting involved with the local STEM initiative.

Offshore Wind Project of the Year There are many offshore wind projects around the world that deserve recognition for everything they have achieved. The Moray East Wind Farm, Ocean Winds, is particularly impressive, generating enough energy to power 40% of households in Scotland.

Just Transition Champion Creating transformative career opportunities, Xodus delivered X-Academy – an initiative that provides salaried placements for 26 participants to gain industry-led experience in developmental work. The project addressed many of the challenges of transitioning in green energy, including financial support for individuals and a keen emphasis on equality, diversity and inclusion (EDI).

Future Leaders As the UK’s offshore wind sector grows, we will need more leaders who can trailblaze a path to the net zero world we aspire to.

Helen Thomas from RWE has proven to be one such leader of the future, having been

Having been established in 2002, the site has been developed over the years in order to utilise cross-sector technology and skills, and pioneer an innovative approach for offshore wind. In particular, the site has pushed the boundaries for water depth and distance to generate exceptional energy output.

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Offshore Wind Gamechanger The RecyclableBlade from Siemens Gamesa is the world’s first recyclable blade, innovatively fabricated from a new type of resin. This is a significant development given the industry’s strive for a more sustainable and circular economy, and it may prevent hundreds of thousands of turbine blades from being sent to landfill. Racing ahead of both demand and legislation, this is an excellent example of how organisations are raising standards of their own volition, driven by a passion and belief in what the sector stands for.

We will be looking at some of these projects and initiatives in greater detail in the coming months, but this goes to show the calibre of innovation, passion and drive that exists across the offshore wind industry. RenewableUK is delighted to have received many very worthy nominations in each category of these Awards, demonstrated by the announcement of several Highly Commended honours in different areas.

An Outstanding Contribution Award was also given to Benj Sykes – Vice President, Offshore, Head of Environment, Consenting & External Affairs at Ørsted – who was praised as an inspirational leader and committed advocate for our industry.

Congratulations to all winners of the inaugural Global Offshore Wind Awards once again. To stay up-to-date with the latest news, updates and innovations in the industry, become a member of RenewableUK today!

For more information, please visit www.renewableuk.com For details of the 2023 events, access the full calendar on the website

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CONTRACT AWARDS

SPONSORED BY

Infinity Partnership: Your Partner in Business Infinity Partnership is an award-winning, multi-disciplinary accountancy and business advisory practice, with a proactive approach to customer service.

www.infinity-partnership.com

Subsea7 awarded contract offshore Trinidad and Tobago Subsea7 announced the award of a contract to Subsea Integration Alliance to support the development of bp’s Cypre project, a gas development located offshore Trinidad and Tobago. Subsea7’s scope of the awarded Subsea Integration Alliance contract is substantial.

Subsea7’s scope covers the concept and design, engineering, procurement, construction and installation of a two-phase liquid natural gas tieback to the Juniper platform through dual flexible flowlines and a manifold gathering system, along with topside upgrades.

Design, engineering, and project management will commence immediately at Subsea7’s offices in the USA, with offshore installation planned for 2024.

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.

Craig Broussard, Vice President for Subsea7 US, said: “We have been working closely with bp and our suppliers at the earliest possible stage to help develop and deliver an integrated SPS and SURF solution that optimises cost and efficiency, to accelerate first gas.”

Olivier Blaringhem, CEO for Subsea Integration Alliance said: ”bp’s Cypre project is a prime example of our ability to harness the key strengths of Subsea Integration Alliance; Subsea7 with its expertise in executing complex EPCI projects, and OneSubsea’s fast-track distribution of subsea production systems.

Combined, we are delivering a refined solution which enables early first gas.”

Saipem wins $800 mln offshore deals in Middle East and West Africa

Shelf Drilling lands five-year deal for another jack-up rig complete an upgrade and contract preparation project in the United Arab Emirates.

David Mullen, Chief Executive Officer of Shelf Drilling, remarked: “This award in the Middle East further demonstrates our customers’ confidence in Shelf Drilling to deliver safe and efficient operations and also represents an attractive opportunity for us to expand our footprint in this growing region, which will benefit the company and all stakeholders.”

Offshore drilling contractor Shelf Drilling has been awarded a long-term contract for one of its jack-up rigs, which will carry out operations in the Arabian Gulf.

While announcing this five-year contract for the Harvey H. Ward jack-up rig, Shelf Drilling explained that the contract value for the firm period, including mobilisation revenue, is approximately $192 million.

In addition, this deal includes a two-year option.

The start-up of operations is planned for late March 2023. Prior to starting this contract, the Harvey H. Ward jack-up rig is scheduled to

www.ogv.energy I December 2022

The 1981-built Harvey H. Ward jack-up rig had its previous upgrade in 2011. This rig is of a Friede & Goldman L-780 Model II design. It is capable of operating in water depths of up to 300 ft and can accommodate 108 people.

This deal comes a little over a month after Shelf Drilling secured another five-year contract for operations in the Arabian Gulf, which will be undertaken by the company’s premium jack-up rig, which was acquired from India’s Aban Offshore earlier this year.

The offshore drilling contractor also recently bought five jack-up rigs from Noble and has already secured an extension for one of these rigs. The rigs included in the agreement were Noble Hans Deul, Noble Sam Hartley, Noble Sam Turner, Noble Houston Colbert, and Noble Lloyd Noble.

Italian energy contractor Saipem has won five offshore drilling contracts in the Middle East and Western Africa worth about $800 million, it said.

In the Middle East, two contracts concern drilling units to be chartered by third parties, with a third relating to the extension of an existing contract.

In West Africa, Saipem was awarded contracts for operations off the Ivory Coast, expected to start in the fourth quarter of 2022, and for an Eni-operated Angola offshore project slated to start next year.

Saipem has now agreed about 1.6 billion euros ($1.66 billion) of new contracts in offshore drilling since the start of this year, it said.

Last month the company beat analyst expectations for third-quarter results and raised its 2022 guidance, with CEO Alessandro Puliti saying the group was ahead of schedule on delivery of business plan targets.

CONTRACT AWARDS Billions to be spent on decommissioning the UK's oil and gas infrastructure — industry group Offshore Energies UK (OEUK), the leading representative body for the UK’s offshore energy industry, predicts billions of pounds will be spent to decommission the infrastructure that has kept the UK’s energy flowing for the past 50 years, according to a report published by the group.

OEUK's Decommissioning Insight report is predicting a surge in decommissioning activity over the next three to four years.

Decommissioning is the process of withdrawing offshore energy infrastructure from use once it’s no longer needed or at the end of its lifecycle.

The report looks at the sector’s performance

ASCO Wins over £10m in Contracts with NORM Solutions Business

for 2021 and the challenges and opportunities in the decade ahead. It will be launched November 22 at OEUK’s annual Offshore Decommissioning Conference.

The growing demand for the service will generate billions of pounds worth of work for UK companies, especially for energy communities based near the central and northern North Sea. Such opportunities also bring challenges – including spikes in demand for supply chain services, along with competition for resources and skills generated by the expansion of renewables.

“The decommissioning opportunity is growing, as well as demand for supply chain services,” Ricky Thomson, OEUK’s decommissioning manager, said. “With the right action from the industry, billions of pounds worth of work could be scored for industrial communities across the country.

ASCO’s state-of-the-art NORM decontamination facility, based in Aberdeen, is fully authorised by the Scottish Environment Protection Agency (SEPA), and is designed to operate at the highest standards when treating hazardous materials.

ASCO has secured four new contracts for NORM decontamination and disposal services with major operators, worth more than £10million.

Chris Lloyd, head of environmental and decommissioning at ASCO, said: "Since ASCO acquired full ownership of NORM Solutions in 2019, the business has gone from strength to strength.

NORM Solutions, part of ASCO's environmental service division has won multi-year contracts with four leading operators to provide safe management and decontamination of naturally occurring radioactive material (NORM) on North Sea installations as they are decommissioned.

“The quality of our facilities and the professionalism of our team at NORM Solutions has played a major part in these contract successes and we greatly appreciate our customers faith in the services we deliver.”

NORM Solutions will handle the receipt and decontamination of all types of offshore materials and equipment, safely cleaning the items to be returned offshore or recycled. They will also handle NORM-contaminated sludges and liquids, repackaging these for safe onward transport and disposal. The contracts will be further supported by deploying ASCO's radiation protection supervisors, who manage the offshore processes required to identify and safely store and offload any contaminated material.

We have unique facilities which, together with ASCO's other service lines of logistics, materials management and supply base services, provide a fully integrated solution for our customers.”

The UK continental shelf has led the way in global decommissioning activity for the past decade and as this activity ramps up further, combined with a renewed focus on exploration and production, Mr Lloyd anticipates continued growth at NORM Solutions to service increasing demand in the market.

“We must collaborate across energies to make sure we can capture the lion’s share of work in the UK and make the most of this decommissioning surge.”

Seadrill-Sonangol JV seals $327m drillship deal in Angola

Offshore driller Seadrill has secured a new drillship extension through Sonadrill, the company’s joint venture with an affiliate of Sonangol, for twelve wells in Angola at $402,500 per day.

The 2019-built Sonangol Libongos will execute the contract for an undisclosed client estimated to be worth around $327m.

The contract starts in the fourth quarter of 2022, with a firm term of approximately 25 months. The floater was previously earning $228,800 per day.

“Sonadrill is the number one rig operator in Angola and this new contract will generate significant free cash flow for the joint venture which will ultimately flow to Seadrill and Sonangol as shareholders,” said Simon Johnson, Seadrill’s chief executive.

There are currently three drillships bareboat chartered into Sonadrill, a Seadrill-owned unit, the West Gemini and two Sonangolowned units, the Quenguela and Libongos, both managed by Seadrill.

CONTRACT AWARDS SPONSORED BY

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To feature new senior hires and appointments within your organisation, please contact Jordan Clarke, Head of Marketing & BD at Norman Broadbent. +44 (0) 7912 564 797 / jordan.clarke@normanbroadbent.com

ON THE MOVE

SPONSORED BY

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

Michael Diamond, Client Partner Michael is the Managing Director for Norman Broadbent’s operations in Scotland and leads our global practice focused on private capital and investors.

He has over 14 years’ experience in executive search, talent advisory and leadership consulting, and has supported a range of organisations from earlystage, high-growth ventures to major listed companies. Michael is particularly well known for his work with private equity and venture capital investors, across the energy, climate and industrial technology markets. Michael is the Managing Director for Norman Broadbent’s operations in Scotland and leads our global practice focused on private capital and investors. He has over 14 years’ experience in executive search, talent advisory and leadership consulting, and has supported a range of organisations from early-stage, high-growth ventures to major listed companies. Michael is particularly well known for his work with private equity and venture capital investors, across the energy, climate and industrial technology markets.

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Al Cook, Executive Vice President for Exploration and Production International, has notified Equinor that he will resign to become CEO of a company outside the energy industry

To secure a good hand over to his successor, Cook will continue in his current position in Equinor until no later than 1 April 2023.

“I would like to thank Al for his contribution to focusing and optimising our international oil and gas business, and I congratulate him on his new appointment,” says Anders Opedal, president and CEO of Equinor.

“I am grateful for the opportunity I have had to contribute in shaping and delivering Equinor's strategy of becoming a broad energy company.

And I am particularly proud of the performance improvements we have delivered together. After years of commuting between Norway and the U.K., I now look forward to living with my family in London. But I remain a huge supporter of Equinor’s leadership in the energy transition,” says Al Cook.

Cook joined Equinor in 2016. From May 2018 until January 2021, he held the position of executive vice president for Global Strategy & Business Development. Prior to this he was senior vice president in Development & Production International overseeing operations in Angola, Argentina, Azerbaijan, Libya, Nigeria, Russia and Venezuela.

www.ogv.energy I December 2022

EnerMech has strengthened its senior leadership team with the appointment of Phil Ogden as Chief Human Resources Officer

Phil joins the business with over 30 years of experience, including over 15 years in senior leadership positions with energy industry specialists Kentz, SNC-Lavalin, Honeywell, and his most recent employer Johnson Controls, where he was Vice President of Human Resources for Europe, Middle East, Africa and Latin America.

He holds a master’s degree in Business Administration and is a graduate member of the Chartered Institute of Personnel and Development (UK).

Heading up the global human resources team, Phil is accountable for leading group HR strategy, initially focused on global resource delivery and talent development in support of EnerMech business growth. Phil will be based in our UAE operations.

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Chris Smith, Partner

Aberdeen headquartered EnerMech promotes Alison Hazell to marketing and communications director

EnerMech has bolstered its senior management team with the promotion of Alison Hazell into the newly created position of marketing and communications director.

Based at the firm’s Aberdeen headquarters, Alison’s new role has been confirmed at a pivotal time for the business as it progresses its strategic plan that will drive the sustainability and growth of the business, delivering value to clients in both new and existing end markets and geographies.

In the quest for accelerating the company’s growth in core markets as well as renewables, nuclear, infrastructure, defence, semiconductors, Alison will implement a new group-wide marketing plan to underpin its ongoing ambitions.

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ICR announces new senior appointment to head up Inspection and Integrity division

ICR has strengthened its leadership team with the appointment of Antonio Caraballo as Director. He joins ICR to support the global growth of ICR’s inspection and integrity management business and reinforce the multiskilled engineering team. An esteemed industry professional, in his previous role Antonio led the multidiscipline integrity management division for INEOS FPS while also acting as Pipelines Technical Authority. He has a strong track record of developing transformational change in organisations and processes.

ON THE MOVE

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KCA Deutag announce the appointment of Alaina Ramsay to the post of KCA Deutag Group General Counsel effective from 1st November 2022

Alaina has over 20 years of commercial and corporate legal experience, having held numerous senior roles with various drilling and oilfield service providers. This includes Transocean, an international drilling contractor and most recently in the Middle East, with Abu Dhabi National Oil Company (ADNOC) where she was General Counsel for ADNOC Drilling and helped secure the company listing in Abu Dhabi.

KCA Deutag Chief Executive Officer Joseph Elkhoury commented: “We look forward to welcoming Alaina to the team. Her functional, geographic and industry experience will greatly benefit the Group as we continue to transform and grow our business in core geographies in the Middle East and other key international markets.”

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Brimmond, the Aberdeenshire-based provider of hydraulic, lifting and mechanical equipment and services, has strengthened its board with the appointment of Nigel Jenkins

Nigel, a qualified Engineer, who specialises in business improvement and growth with expertise in leadership and business management, will take on the role as a Non-Executive Director of Brimmond as the company implements its new ambitious strategy.

Brimmond recently integrated the divisions of its business by absorbing sister company Rigrun Europe. The newly unified entity is moving forward with an ambitious three-year strategy to diversify into new markets including marine, aquaculture and renewables, and achieve growth in domestic and international markets.

Brimmond Managing Director Tom Murdoch said Nigel has been critical in implementing the new strategy while working with the wider team to set viable and valuable KPIs to monitor all areas of the business.

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Weatherford Appoints Executive Vice President of Operational Excellence

He said: “Nigel has an outstanding business track record and brings a wealth of experience and knowledge to Brimmond’s board, particularly in functions and processes that grow businesses and generate revenues.

Girish Saligram, Weatherford President and Chief Executive Officer, commented, "We are pleased to welcome Chuck to our Executive Leadership team. He is a proven leader with demonstrated results, which make him ideally suited to drive further alignment, collaboration, and coordination across our operating functions as the Company continues to deliver strong results and customer satisfaction."

“Unifying the business created a stronger organisation more capable of achieving growth in domestic and international markets. Following a successful year with our highest ever turnover of £6 million, we have been implementing specific strategies, objectives and targets to build upon our 25-year history as a leading provider of specialist hydraulic and mechanical equipment.”

Nigel said “I am delighted to be working with Tom and the wider Brimmond team at a key time in their evolution. They have fantastic clients who genuinely value Brimmonds outstanding people, engineering skills and delivery focussed ethos. To further develop, we have created a compelling vision underpinned by a clear market orientated strategy with everyone in the company contributing. I am really impressed by the whole team and am greatly look forward to supporting future growth”.

includes overseeing one of the company’s commodities trading desks in Stamford, CT and, prior to returning to the U.S., as Senior Vice President, Crude, Liquids and Products inNorway. Morris has been a leader in the company’s priority focus on sustainability. She holds a Bachelor of Science degree in Chemical Engineering from Villanova University.

Weatherford International plc ("Weatherford" or the "Company") has appointed Charles "Chuck" Davison, Jr. as Executive Vice President of Operational Excellence, effective September 30, 2022.

Mr. Davison brings 25 years of experience in growing and transforming international technology-focused businesses in oil and gas services, energy infrastructure, and industrial, consumer, and engineered products. Mr. Davison joins Weatherford from Strike, LLC., where he served as President and CEO. Prior to that, he was the Chief Operating Officer for Oceaneering International for over two years.

“We are delighted to collaborate with Nigel and are looking forward to his continued and increased involvement in the company as we build our brand."

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Equinor announces that Molly Morris will serve as the new President of Equinor Wind US, who will take on a new exciting opportunity within Equinor

Morris joined Equinor in 2008 and has since taken on a variety of important roles in the company. Currently serving under Espedal Kindem as Special Advisor, Morris has held multiple leadership positions within Equinor, both in the U.S. and in Norway. Her experience

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“One of my main priorities has been to build a strong leadership team and to find a local successor for my position to continue shaping and guiding the development of our US renewables business. Molly has established a strong track record of success in each position she has held at Equinor and is ideally placed to take on this role,” said Siri Espedal Kindem, President Equinor Wind US. “As Special Advisor for the past five months, she has had the opportunity to learn about the growing renewables business and become deeply involved in the development of Equinor’s offshore wind business in the US, ensuring a smooth leadership transition.”

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DECOMMISSIONING

SPONSORED BY

www.wellsafesolutions.com

SAFE, SMART & EFFICIENT The complete package for well decommissioning Well-Safe Solutions provides a ground-breaking approach to the safe and cost-efficient decommissioning of on and offshore wells. We offer a specialist well abandonment service that allows operators to meet the challenges and regulatory imperatives around decommissioning, while significantly reducing costs.

£20bn to be spent on decommissioning North Sea oil and gas installations in the next decade, predicts Offshore Energies UK It is estimated around 2,100 North Sea wells will be decommissioned over the next decade – around 200 per year – at an average cost of £7.8m per well.

In 2021 a tenth of UKCS oil and gas expenditure went on decommissioning. This proportion has risen to 14% in 2022 and is set to rise to 19% by 2031. Over the next ten years, expenditure on decommissioning is predicted to total £19.7 billion, with well decommissioning comprising nearly half of this spend.

Over 75% of total decommissioning spend will be within the central North Sea, (stretching from Yorkshire to the northern tip of Scotland), and the northern North Sea, (covering an area north of Scotland and east of Shetland and Orkney). The surge in work could particularly benefit industrial communities on adjacent coastlines, especially around Teesside, Humber, Aberdeen and Inverness. Decommissioning in the Irish Sea will generate more economic benefits in places like Merseyside.

Over two thousand North Sea wells involved in oil and gas extraction are to be decommissioned at a cost of around £20bn over the next decade, says a new industry forecast.

The wells have played a crucial role in providing the UK with the energy to keep homes warm, run businesses and power vehicles.

Offshore Energies UK (OEUK), the leading representative body for the UK’s offshore energy industry, has published its latest Decommissioning Insight report (22 November).

Decommissioning is the process of withdrawing offshore energy infrastructure from use once it’s no longer needed or at the end of its lifecycle.

The report finds UK decommissioning is expanding fast and predicts a surge in activity over the next 3-4 years. It says the sector will continue growing as other emerging offshore energy technologies, like offshore wind farms, also require the service.

www.ogv.energy I December 2022

However, the growth in other renewable energies, such as offshore wind, could cause bottlenecks in demand for decommissioning services, the report says.

It means the offshore wind, carbon capture and storage, and oil and gas sectors will need to work together and be transparent about planned projects to make sure the opportunity is properly managed.

OEUK Decommissioning Manager Ricky Thomson said: “The UK’s decommissioning sector is snowballing and will continue growing for years to come.

“But this poses a challenge as well as an opportunity. The growth of renewables and demand for decommissioning services and expertise will create increasing pressure for resources.

“This is a great problem to have and it’s vital this opportunity is properly managed across the sector so that UK firms can capture the lion’s share of this £20bn opportunity.

“With the right support from government and action from the industry, the UK could make major gains from decommissioning, as well as retain thousands of jobs for this growing sector.”

Journalists are invited to attend a virtual media briefing on Monday November 21 to find out more about the report, followed by a Q&A session. We would be grateful if you can confirm your attendance in advance with OEUK’s Communications team: media@oeuk.org.uk.

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James Fisher Decommissioning have a vision to be the go-to well abandonment and decommissioning partner to our clients, delivering a full range of services and equipment across decommissioning project life spans – from plugging and abandonment to pipeline clearance and structural removal.

An exciting development in this space is the launch of our vessel based subsea well abandonment tool SEABASS. SEABASS is a revolutionary, single trip mechanically locking system for the abandonment of category 2 wells. It meets global market criteria and is designed to deliver cost and time efficiencies compared to existing alternatives. SEABASS is designed to remove contaminants and provide barriers to allow the well site to return to its original environmental state.

By incorporating SEABASS into our existing full back deck capabilities, whether combining with our ultra-high pressure abrasive water jet cutting, for example, a single vessel and multi-skilled team delivers cost and time efficiencies, reduces deck and POB space, improves assurance and safety while significantly reducing a projects carbon footprint. This positions James Fisher Decommissioning to deliver a single-source solution, reducing contractual complexity and enabling multi-well and multi-operator campaigns, encouraging collaboration along with more efficient and effective use of vessels – one vessel, one team.

The design team behind the SEABASS tool have extensive experience in well plug and abandonment operations and have come up with a solution that answers the most common concerns raised by clients.

“It is currently a very exciting time for James Fisher Decommissioning.

The acquisition of Subsea Engenuity Ltd in June 2021 enabled us to develop new technology and we’re hoping the SEABASS is the first of many. There’s a great excitement around the company and we’re looking forward to showcasing it to all of our clients. The real adventure starts offshore this December where SEABASS will be part of a wells campaign in the North Sea.” Richard Henderson, Engineering Director, James Fisher Decommissioning.

DECOMMISSIONING SPONSORED BY

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STATS & ANALYTICS

STATS & ANALYTICS PROVIDED BY

Field Development Update

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.

Offshore O&G-related engineering, procurement, and construction (EPC) contract award value in the last 30 days was estimated at US$4 billion, bringing the year-to-date total to US$40.6 billion (excluding letters of intent). EPC award value was predominantly driven by contract awards to Saipem for Saudi Aramco's Abu Safah field and QatarEnergy's North Field Compression Phase One project.

There has been a 32% downward revision in anticipated offshore EPC spend in 4Q 2022 compared to last month's outlook, driven by Equinor's decision to delay the final investment decision (FID) on its Wisting project until 2026. The operator stated that global inflation in the supply industry and uncertainty of execution capacity due to the war in Ukraine were the primary reasons for the delay. Furthermore, major EPC contract awards for QatarEnergy's Ruya and the North Field South (NFS) developments have also been delayed due to the Qatar 2022 FIFA World Cup.

www.westwoodenergy.com

Offshore Field Development available from

SubseaLogix & PlatformLogix SubseaLogix PlatformLogix

New Fortress Energy (NFE) awarded Sembcorp Marine a master service agreement for the engineering and conversion of two Sevan cylindrical drilling vessels to floating liquified natural gas (FLNG) units. The first unit is expected to be deployed on Pemex's Lakach project, which the Mexican regulators recently approved following a revision to its development plan. This FLNG EPC award for the first unit has led to an increase in total FPS throughput capacity sanctioned in 2022 by approximately 12.5 kboepd.

Approximately US$20 billion in offshore EPC contract award value is forecast for the remainder of 2022, driven by Equinor and Aker BP's investment offshore Norway for projects including the NOAKA development and the Skarv satellite projects. Looking into 2023, Westwood anticipates offshore O&G-related EPC spend to total US$86 billion, with the Americas accounting for 27%, whilst Africa and Western Europe will account for 14% and 8% respectively.

Offshore Rig Update The global committed jackup count totalled 394 units in October, two higher than the previous month. The marketed available and cold stacked jackup counts now stand at 41 and 54, respectively. Marketed, committed utilisation and total fleet utilisation stands at 91% and 81%. There were 21 new fixtures made during the month, with a total of 15,550 drilling days. More than 50% of these fixtures came from the Middle East, followed by 38% from the North America region.

The global committed semisubmersible (semi) count dropped by three to 64 this month.

There are 17 available rigs and 14 cold stacked units in the fleet. Marketed, committed utilisation declined from 82% to 79%, while total fleet utilisation fell to 68%. There were five new fixtures with a total of 1,390 drilling days during the month. Most notably, Petrobras awarded LOIs for multi-year contracts to Ocyan (Norbe VI) and Diamond Offshore (Ocean Courage) to work off Brazil commencing in 3Q 2023.

Finally, drillship demand stayed constant from September at 76 units, leaving only six units available in the market, while another 15 rigs are cold stacked. Marketed, committed utilisation and total fleet utilisation dipped slightly to 93% and 78%, respectively. There were six new contracts signed in October, totalling 6,272 drilling days. Petrobras was responsible for five of the six awards, all LOIs for work commencing between 1Q and 3Q 2023 offshore Brazil.

Offshore O&G EPC Awards

$billions 100

Expected

90

Sanctioned

80 70 60 20.5

50

86.3

40 30 44.6

20 10

41.9

40.6

2021

2022

16.5

0 2019

2020

2023

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

Subsea Tree Awards

#XTs 2022

215

2021

31

47

3

Sanctioned Firm Probable Possible

165

FPS Throughput Additions by Year of Sanction kpoepd 2500

LNG

Gas

Liquids

2000

www.ogv.energy I December 2022

0 2019

2020

2021

2022

2023

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

11.2

10.8

9.7

9.2

Shell

ENI

9.0

8.6 Other

11.6

TotalEnergies

17.9

CNOOC

21.4

QatarEnergy

39.7

ExxonMobil

119.8

Woodside

Finally in the Netherlands, RWE Renewables was awarded the rights to develop the 760 MW Hollandse Kust West Site VII wind farm via a subsidy-free tender. The wind farm will be developed by RWE’s project company, Oranje Wind Power II. As part of the project plans, surplus electricity produced from the wind farm will be used to power green hydrogen production on land and floating solar panels will also be incorporated to use the ocean space more efficiently.

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Saudi Aramco

Dominating headlines was news that the US Department of the Interior announced an offshore wind lease sale to be held on 6 December 2022 for areas on the Outer Continental Shelf (OCS) off central and northern California. The sale will be held by the Bureau of Ocean Energy Management (BOEM). A total of five lease areas with the potential to produce over 4.5 GW of offshore wind energy will be offered via a competitive auction.

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Equinor

Since the last update, Siemens Gamesa signed two contracts for the three Hai Long wind farms, located offshore Taiwan. The first contract covers the supply of 73 SG 14-222 DD offshore wind turbines across the three projects and the second contract is a 15-year turbine service agreement with an option to extend this to 20 years. The 300 MW Hai Long 2a, 232 MW Hai Long 2b and 512 MW Hai Long 3 wind farms are being developed by a consortium of Yushan Energy, Northland Power, and Mitsui & Co.

1500

Petrobras

Offshore Wind Update

Offshore Energy Services Dashboard November / October 2022

RigLogix

Offshore Rigs available from Global Rig Count Jackups

Drillships

14

15

Jackups

Semisubs

Drillships

November 1

November 1

November 1

724.7

91.4

130.8

October 1

October 1

October 1

743.3

90.5

131.9

41

489

6

95

17

Jackups

RigLogix

Backlog Month-on-Month (Rig Years)

Semisubs

54

41

97

Drillships

Semisubs 64

76

394

Contracted

Available

Stacked

Regional Rig Count Month-on-Month (November vs October) Jackups

Semisubs

Drillships 2.1

US GoM

SE Asia

South America

Arabian Gulf

Global Rig Utilisation

Jackups

-0.9

-1.2

-2.9

Global

NW Europe

US GoM

SE Asia

South America

Semisubs

Drillships

60% 50%

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

40%

80% 70% 60%

Effective Total

50% 40%

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

70%

90%

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

80%

Arabian Gulf

100%

90% 85% 80% 75% 70% 65% 60% 55% 50% 45% 40%

90%

-1

Arabian Gulf

NW Europe

0.3

-0.3

South America

Global

0.6

-0.3 -2.9

SE Asia

-2.9 -0.1

NW Europe

Arabian Arabian Gulf Gulf

-0.3 -1.2

Global

South South America America

-0.9

Arabian Gulf

SE Asia SE Asia

-0.3 -1.3

South America

US GoM US GoM

-2.9 -2.5

SE Asia

NW NW Europe Europe

0.6 -2.9

US GoM

-1.2 -1.5

NW Europe

-0.9

Global

Global Global

-0.3 -0.5

2.1

4.4

US GoM

2.1

1.9 -2.9

WindLogix

Offshore Wind available from

WindLogix

Offshore WTG Awards (excl. Mainland China)

#WTGs 1800

Expected

1600

Awarded

4%

1400

4% 4%

14%

16%

1200

17%

Awarded by OEM

1000

56%

Expected by Region

800

16%

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

44%

42

LEGAL & FINANCE

Laura Petrie, Parnter, Brodies.

CHANGE IS INEVITABLE.

CHANGE IS CONSTANT.

In the late 19th century Benjamin Disraeli stated that change is both constant and inevitable, and it has never been a truer statement than today when considering the UK energy industry.

The more things change, the more they stay the same?

However, as we move into 2023, none of the changes and challenges being faced in the current market are new. The industry has come through wars in the 1980s and 1990s, it has survived market peaks and crashes in the same period, it has confronted supply and demand issues including living through blackouts and shortages in the 1970s, and it has experienced regulatory change as a constant and inevitability throughout.

Ensuring that a business survives through changeable times is dependent, in part, on conducting legal housekeeping and health checks regularly.

Small changes make a big difference

What simple things can help insulate a business against change?

• Annual review of contracting practices and policies, including a review of live contracts, helps to keep a company at the top of its game when managing risk and liability.

Frequently, overarching framework agreements are put in place between operators and suppliers which are then relied on for extended periods of time with limited further review.

While there is a benefit to the stability these agreements bring in respect of pricing, all too often they will have been negotiated by team members who have moved on and may even be frequently ignored in favour of bespoke terms being used for individual projects. This leads to extra time and costs being incurred and varying terms and conditions applying between the same parties. Conducting a contract audit on a regular basis can help clear out old terms and highlight where amendments may be required, ensuring that if the market changes, the company's preferred terms are in place.

• One of the most important assets a company has is its people. Utilising the right engagement structures ensures that good people can be retained and rewarded appropriately. Similarly, where issues arise, the appropriate structures mean that these issues can be addressed swiftly. Using standardised engagement tools (such as Workbox by Brodies) can ensure consistency and a clear process for those in people management as well as a transparent approach for all team members.

www.ogv.energy I December 2022

Laura Petrie

• Environmental, social and corporate governance became energy industry buzzwords in the last five years as investors and the general public sought greater transparency and accountability in the actions of energy related businesses. Establishing clear policies in relation to environmental and societal matters ensures that an organisation can effectively manage its public image while coordinating its activities in a strategic manner.

Internal management and application of those policies is equally important and clarity on governance documents (such as company articles, shareholder agreements or directors' engagement letters) ensures that decision making can be carried out efficiently. Auditing and reviewing these policies and internal documents annually ensures an organisation remains agile and responsive.

• Management of international strategy can play a key part in addressing changes. Whether it is in establishing overseas markets or streamlining existing international portfolios, understanding the local market and local laws means an organisation can make timely and cost-effective decisions. Ensuring that the right contacts and local support are in place as early as possible means that when the inevitable changes occur, no time is lost.

The times they are a-changing Bob Dylan got it right when he narrated the changes the world faced in the mid-1960's and the world is facing similar changes now.

As often as things change, there is very little that is wholly new. Instead, change comes in cycles.

So, as 2023 looms, we can draw comfort that similar issues to those the energy industry faces today have happened before.

Effective planning and preparation can help us all stay ahead of the curve and meet those changes head on.

Experts in travel management Delivering unique and valuable travel

EVENTS

43

UPCOMING GLOBAL EVENTS 2022-2023 ENERGY FROM WASTE CONFERENCE DEC 5-6 - LONDON, UK

management solutions for companies operating in the Energy sector.

ENERGAIA DEC 7-8 MONTPELLIER, FRANCE

FUTURE LEADERS

GET IN TOUCH

DEC 7 LIVERPOOL & LONDON

ICMETDM 2022 DEC 9-10 HAMBURG, GERMANY

SNEC PV POWER EXPO DEC 27-29 SHANGHAI, CHINA

SCOTTISH RENEWABLES OFFSHORE WIND CONFERENCE 2023 JAN 25-26 GLASGOW, UK

TANZANIA READY FOR BUSINESS FEB 1-3 DAR ES SALAAM, TANZANIA

WIND ENERGY IRELAND ANNUAL CONFERENCE FEB 21-23 DUBLIN, IRELAND

SUBSEA EXPO 2023 FEB 21-23 ABERDEEN, UK

SPRINT ROBOTICS ASIAPACIFIC SUMMIT 2023 MAR 22-23 SINGAPORE

LARGE SCALE SOLAR EUROPE MAR 28-29 LISBON, PORTUGAL

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VIEW ALL EVENTS AT www.ogv.energy/events

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