The OGM Global Energy Magazine

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Table of 12

Yesterday Was the Time to Get Involved in Hydrogen Energy

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5 Bids totalling $238,075,321 MAJOR Offshore WIN for Newfoundland

28

Port of Argentia: Wind Energy to Hydrogen is the next big ‘Thing’

34

Two Greats: Cabot Martin and Judith Bobbitt

42

Friends of Cabot Martin to Raise Funds to Establish “Cabot Martin Award for Research in Regional Policy & Development”

46

BAY du NORD IS A GO

52

West White Rose $2 billion in contracts & thousands of jobs ahead

54

Offshore Newfoundland: Clean Energy Security for the World

60

How Do You Ensure Operations Are Corrosion Proof?

66

ABB’s Subsea Technology Recognized by Independent Research

70

Newfoundland and Labrador: Rebounding Into The New Energy Revolution

Table of 76

Blockchain Key to Cutting Down Oil and Gas Operational Costs

78

Major Merger: World’s Largest Members’ Association for Blockchain Technology

82

Independent Resource Assessments Reveal Oil and Gas Potential Offshore Newfoundland and Labrador Continues to Grow

86

US $13 Million Investment by ABB to Expand Presence in Canada

90

Principle Power to Advance FEED for Wind-to-Hydrogen Dolphyn Project

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5 BIDS TOTALLING $238,075,321 MAJOR OFFSHORE WIN FOR NEWFOUNDLAND

The CanadaNewfoundland and Labrador Offshore Petroleum Board (CNLOPB) is announced the results of Call for Bids NL22-CFB01 (Eastern Newfoundland Region) and Call for Bids NL22CFB02 (South Eastern Newfoundland Region).

Both Calls for Bids were previously approved by the federal and Newfoundland and Labrador governments.

The awarding of exploration licences arising from any Call for Bids is a Fundamental Decision, meaning it is subject to further approvals by the federal and provincial governments.

Five successful bids were received for Call for Bids NL22-CFB01 (Eastern Newfoundland Region), totaling $238,075,321 in work commitments and

covering 1,222,907 hectares. No bids were received for the South Eastern Newfoundland Region Call for Bids.

The sole criterion for selecting a winning bid is the total amount the bidder commits to spend on exploration of the parcel during Period I (the first six-year period of a nine-year licence). The minimum acceptable bid for each parcel is $10,000,000 in work commitments.

Parcels included in Call for Bids NL22-CFB01 can be found in the following map Call for Bids NL22CFB01 Parcels map Offshore safety and environmental protection are paramount in all Board decisions. The CNLOPB supports action by the federal and provincial

governments to address climate change and protect notable marine areas, working closely with governments and others in this regard.

Emissions-related considerations will be assessed as part of the regulatory review process should companies propose specific plans.

Planning, monitoring and assessment of offshore petroleum activities will ensure they occur in a safe and environmentally responsible way. Required regional and/or sitespecific mitigation measures will be undertaken before any petroleum-related operations can begin within a licence area, as conditions of C-NLOPB approvals and authorizations. The timing, spatial extent, and nature of proposed oil and gas

activities, in addition to mitigations already prescribed by legislation or regulation, will determine the level of restriction or mitigation that may be required.

The Eastern Newfoundland Region includes a number of important areas for fish harvesters who fish crab and other species.

The C-NLOPB fully appreciates the importance of both the fisheries and petroleum sectors and will continue to engage with fisheries stakeholders, Fisheries and Oceans Canada (DFO), other federal and provincial agencies and other stakeholders throughout the land tenure process. Like any companies acquiring Exploration Licences, the successful bidders from Call for Bids NL22-CFB01 will be required to engage with fishing interests before any oil and gas activities are authorized.

Parcel 12 also overlaps with a portion of the Northeast Newfoundland Slope Marine Refuge. The C-NLOPB is focused on the protection of environmentally significant areas and will also continue to work

closely with DFO and others in this regard.

As most of these parcels are beyond Canada’s 200 nautical mile zone, additional terms and conditions may be applied (e.g. through legislation, regulations, amendments to licences or otherwise) to the resulting licences from this Call for Bids in order to meet obligations arising pursuant to article 82 of the United Nations Convention on the Law of the Sea.

Subject to bidders satisfying the requirements specified and receiving government approvals, the Board will issue the new exploration licences in January 2023. Further detailed information about these Calls for Bids is available on the C-NLOPB website or C-NLOPB Data and Information Hub.

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TWO GREATS: CABOT MARTIN AND JUDITH BOBBITT

Entrepreneur Judith Bobbitt

Friends of Cabot Martin to Raise Funds to Establish “Cabot Martin Award for Research in Regional Policy & Development” by: David Vardy

BOOM BAY du NORD IS A GO

The Bay du Nord project (BdN) consist of several oil discoveries in the Flemish Pass basin, some 500 km northeast of St. John’s in Newfoundland and Labrador, Canada. The first discovery was made by Equinor in 2013, followed by additional discoveries in 2015, 2016 and 2020.

Confirmed discoveries in 2020 in adjacent exploration licence EL1156 (Cappahayden and Cambriol East) are potential tie-ins in a joint project development. The Bay du Nord discovery is at a water depth of approximately 1170 metres whilst the new discoveries are at approx.

650 water depth.

The oil industry in Newfoundland is about to boom. It is more good news for the oil and gas industry of Newfoundland and Labrador today. Hibernia, Terra Nova, was White Rose, and Hebron are all producing oil. The West White Rose Extension is currently under construction. Now the “sixth significant find” has arrived and will produce oil offshore Newfoundland, Bay du Nord.

Equinor Canada has taken a significant first step to advance the Bay du Nord prospect in the Flemish Pass Basin. They have given the notice to proceed officially. The green light was given to the Bay du Nord project today, where Premier Ball was joined at the announcement by the Honourable Siobhan Coady, Minister of Natural Resources.

Unni Fjaer, Vice President, Offshore Newfoundland, Equinor Canada said, “This marks an important milestone to progress a successful development at the Bay du Nord discovery. This framework agreement provides important clarity and stability as Equinor and our partner Husky Energy work to move this project toward a sanction decision in the coming years. We also welcome our new equity partner, the province’s energy company, to the project.

Equinor’s purpose – to turn natural resources into energy for people and progress for society – means we use our competence and technology to provide energy to a growing population in a safe and responsible way, and the Bay du Nord project presents an opportunity to achieve this offshore Newfoundland and Labrador.”

$14 billion opportunities With reserves of nearly 300 million barrels of oil, Bay du Nord is the first remote, deepwater project in the province’s offshore (500 kilometres from shore and approximately 1,200 metres deep). It opens a new basin – the Flemish Pass and is the first project to be negotiated under Newfoundland and Labrador’s generic oil royalty regulations.

Bay du Nord is a unique opportunity to generate significant value and increase the capacity and global competitiveness of the Newfoundland and Labrador oil and gas supply chain.

In alignment with Equinor’s strategy for a low-carbon future, the Bay du Nord development is designed to optimize energy efficiency.

Equinor and their partners see the opportunity to apply digitalization principles throughout the life of the field in order to improve the efficiency of the development.

The Bay du Nord project has many benefits for the people of Newfoundland and Labrador, including: More than $14 billion in economic activity In-province employment of 22.3 million person hours over the life of the project Estimated $3.5 billion in government revenues; Expected in-province fabrication of 5,000 metric tonnes; Focus on subsea engineering and new fabrication capabilities; A minimum $75 million in research and development, and education and training expenditures over 10 years to position Newfoundland and Labrador as a deepwater centre of excellence; and A project equity stake of 10 per cent.

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West White Rose $2 billion in contracts & thousands of jobs ahead

$Billions of contracts and infrastructure development will commence offshore Newfoundland with the: West White Rose project restarting, Bay du Nord project progressing, new opportunities with land sale plays, and the Terra Nova refurbishment and commencement. It’s very exciting times. Talk about a rebound out of a very dark time.

Newfoundland is poised for great opportunities ahead.

Suncor announced the West White Rose re-start whereby Suncor has increased its ownership in the White Rose asset. In exchange for a cash payment of approximately $50 million from Cenovus to Suncor and in accordance with the conditional agreement announced on September 8, 2021, Suncor’s interest in the White Rose asset increases from 27.5% to 40.0% and in the West White Rose project from 26.1% to 38.6%.

The decision to restart the West White Rose project is the result of a robust project evaluation which included the impact of a finalized agreement with the Government of Newfoundland and Labrador on a competitive royalty framework for the project.

The West White Rose Project joint venture owners are Cenovus (operator), Suncor and Nalcor. First oil from the platform is anticipated in the first half of 2026, with peak production anticipated to reach approximately 80,000 barrels per day (bbls/d), 45,000 bbls/d net to Cenovus, by year-end 2029.

“This project is expected to extend the production life of the White Rose field, securing longterm value for shareholders and the people of Newfoundland and Labrador,” says Shelley Powell, Senior Vice President of Exploration and Production, and In Situ with Suncor.

“The joint venture owners have worked together to significantly de-risk this project over the past 16 months. As a result, we’re confident restarting West White Rose provides superior value for our shareholders compared with the option of abandonment and decommissioning,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “With the project about 65% complete, combined with the work done over the past 16 months to firm up cost estimates and rework the project plan, we are confident in our decision to restart this project in 2023.”

West White Rose The remaining capital required to achieve first oil is expected to be approximately $2.0 billion to $2.3 billion net to Cenovus. This includes construction costs of approximately $1.6 billion to $1.8 billion net to Cenovus for the completion of the West White Rose full platform, and about $400 million to $500 million net to Cenovus for subsea drilling and completions work and the SeaRose floating production, storage and offloading (FPSO) vessel’s asset life extension.

Capital to complete the project is largely offset by deferral of planned decommissioning costs of $1.6 billion to $1.8 billion over the next five years that had been assumed in the business plan presented at Cenovus’s Investor Day in December 2021. Included in the West White Rose Project capital estimate is $120 million net to Cenovus to be spent in 2022 as the company works towards full restart of the West White Rose Project in 2023.

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How Do You Ensure Operations Are Corrosion Proof?

Harber Coatings Applies Material Science To Steel

By Tina Olivero

C

orrosion and erosion are terrifying outcomes that plague workplace equipment and assets in the energy industry. Left unchecked corrosion will ultimately result in excessive operating costs due to corrosion/erosion damages ultimately causing more work in the inspection, repair, maintenance phase of business processes. Corrosion of pipes, production equipment, and industrial assets could make or break the safety of your project.

Mitigating corrosion risk is critical not just in the short term but over the lifelong journey of your assets. So how do you ensure that your industrial projects remain corrosion-free and leave you feeling confident about the safety and production of your assets? This is a question that plagued Ken Wang, President of Harber Coatings.

Ken recalls the years of company growth, “This year, Harber Coatings Inc (HCI) is proud to celebrate 20 years in Canada. HCI has been a leader in Electroless Nickel Coating/Plating since 2002.

The formula for the company’s success comes from transferring academic results into consistent large-scale industrial production whereby the lifetime of assets is corrosion-free and project safe.”

From its humble beginnings in a small workshop in Inglewood, Calgary, today HCI is headquartered in the esteemed Calgary Foothills Industrial Park.

The company is now the industry leader in hightech, peak-performance metal surface protection.

The HCI facility occupies over 20,000 square feet of production area and boasts some of the largest ENC processing equipment in the world.

This location also includes R&D facilities funded by the National Research Council of Canada and continues to develop innovative technologies.

Ken explains the process, “We are proud to say that over the years, Harber has developed a series of highperformance corrosion and erosion protection solutions for the Oil and Gas industry.

In addition to the flagship InnoGuard™ ENC, there are a few other R&D projects ongoing.”

Harber Coatings Inc. has made – InnoGUARDTM 300 series coating products that are based on a unique, proprietary process ensuring the coatings do not flake or peel off even when they are mechanically damaged.

Steel has excellent material properties when guarded against corrosion and other wear challenges, and as such many protective coating options have been developed over the years.

Prominent examples include paint, epoxy, polymer/powder coat, galvanizing, thermal spray, metal overlay as well as ENC/ENP. A persistent challenge for all these established products has been performance in severe environments, specifically the tendency to accelerate the rate of wear once the coating starts to develop damage.

Ken explains how they provide clients with longterm results, “We’ve mitigated corrosion risk and combatted coating failure with HCI’s InnoGuard™ ENC. It is a unique product that has outstanding wear properties and exceptional bonding to the substrate material. This means when failure of the coating eventually occurs, there is no accelerated corrosion from galvanic or crevice corrosion developing underneath the coating.

InnoGuard™ protected parts dramatically extend the life of assets and minimize the risk of unplanned shutdowns.”

Harber Coatings is the world leader in ENC/ENP process by coating performance, production scale, and ESG. HCI’s proprietary coating products do not flake even under severe mechanical impacts. The HCI team specializes in large-scale components such as fulllength tubing and casing pipes. The production is highly efficient and environmentally friendly compared to conventional ENC as there is minimal industrial waste generation.

HCI’s product offerings are further differentiated by a complementary application assessment and performance guarantee.

Specific to each application, HCI provides design alteration advice (if applicable) and a guarantee on the lifespan of the coated component for the specific service condition based on provided design parameters and its database of past applications. This creates certainty in the investment and long-term protection of energy assets.

Harber Coatings Inc. continues to succeed in serving oil and gas clients with high-tech research and development.

ENC (Electroless Nickel Coating), and/or ENP (Electroless Nickel Plating) are foundational cornerstones of long-term corrosion-proofing processes with life-of-asset results.

With unique advantages in transferring academic results to industrial applications, Harber has developed a series of coating solution formulas and proprietary processing technologies that will serve the industrial sector for years to come. Congratulations Harber Coatings Inc on your long-term corrosion success!

ABB’S SUBSEA TECHNOLOGY RECOGNIZED BY INDEPENDENT RESEARCH Leading the way in subsea automation with its underwater control systems and electrification services, ABB received Frost & Sullivan’s 2022 Best Practices Award for Global Oil and Gas Automation Technology Innovation Leadership.

ABB was commended for the development and commercialization of its subsea power conversion and distribution system.

Its technology gives oil and gas companies access to a reliable subsea energy supply of up to 100 megawatts of power over distances up to 600 kilometers into the sea and 3,000 meters of water depth with little maintenance required despite operating at intense pressures and in extreme conditions.

María Agustina de Sarriera, Frost & Sullivan oil and gas analyst, said, “ABB’s visionary and highly innovative solutions are technology advanced within the industry. The company achieved transformational growth in the automation segment via its subsea technologies. It invested in research, design, and development over many years in collaboration with Chevron, Equinor, and Total Energies to develop this innovative power technology subsea system – investing about $100 million over the years.”

Brandon Spencer, president of ABB Energy Industries, commented, “The convergence of automation and electrification is key to reducing carbon emissions in the oil and gas sector. By powering pumps and compressors on the seabed, close to the reservoir, our technology can significantly reduce energy consumption as well as decrease carbon emissions by using power from shore. It has taken years and the dedication of around 200 scientists and engineers from ABB and our partners to make this a reality, and it is fantastic that Frost & Sullivan has recognized our collective achievement and leading technology through this award.”

Assessed by Frost & Sullivan’s global team of Growth Pipeline experts, the Best Practices Award identifies and assesses companies that consistently develop growth strategies based on a visionary understanding of the future and how to effectively address new challenges and opportunities.

Frost & Sullivan also congratulated ABB on securing the $120 million project with Chevron Australia and Aker Solutions to engage in power provision from shore and subsea out to the Jansz-Io field.

The company’s approach to optimizing operational efficiency was also commended, with special mention made of its capital projects and execution methodology – Adaptive Execution™. With digitalization and collaboration at its core, Adaptive Execution was developed to drive greenfield project efficiency. By integrating expert teams, innovative technologies, agile processes, collaborative knowledge, and proven methodologies, it can deliver automationrelated CAPEX savings between 15 percent and 40 percent, reduce startup work hours by up to 40 percent, and compress schedules by up to 40 percent.

Frost & Sullivan Best Practices Awards recognize companies that have developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.

By connecting software to its electrification, robotics, automation, and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries.

ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.

www.abb.com

The five-year, “Maximizing Our Renewable Future” plan has a vision of reducing the province’s fossil fuel use, and delivering affordable and reliable renewable energy to the people of the province and beyond while developing and using its renewable energy resources in a manner that ensures environmental protection, meaningful Indigenous engagement, job creation, and industry growth. This plan is available on IET’s website.

The OGM: Where will oil and gas play a role in energy 10 years from now – 20 years from now?

Andrew Parsons: Well-known and respected sources of energy-market analysis, such as the International Energy Agency and the United States Energy Information Administration, forecast that oil and natural gas could meet approximately 50% of total global energy supply and consumption over the next 10 to 20 years in recent long term scenario outlooks. Even in some of the more stringent pathways forecasted, to achieve netzero CO2 emissions by 2050, oil and natural gas still represent around 30% of the world’s energy supply and consumption mix by 2040.

With the restart of the West White Rose, Terra Nova coming back online this year, and the recent approval of Bay du Nord, the province’s offshore will play a keyrole in helping the province meet global demand for environmentally responsible and geopolitically secure sources of oil.

The OGM: What’s the bestcase scenario for responsible development while mitigating climate impact?

Andrew Parsons: Newfoundland and Labrador have a strong environmental, social, and governance structure, matched with our low emissions per barrel compared to the international average we continue to show our commitment to net-zero by 2050 while managing a just green transition.

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BLOCKCHAIN

Key to Cutting Down Oil and Gas Operational Costs

Ravindra adds: “Companies today are striving to reduce operational costs amid the demand uncertainty brought about by the COVID-19 pandemic and the likely shift towards low-carbon energy sources. In this scenario, blockchain could prove to be a boon for them.

MAJOR MERGER: WORLD’S LARGEST MEMBERS’ ASSOCIATION FOR BLOCKCHAIN TECHNOLOGY Global Blockchain Business Council – the leading global industry association for the blockchain technology ecosystem – has announced a major merger with the world’s leading market standards association for the adoption of cryptocurrencies and digital assets, Global Digital Finance (GDF).

The merger sees the two organizations join their respective resources, assets, and membership, becoming the world’s largest industry association for the blockchain technology and digital assets ecosystem.

The combined association will have nearly 500 institutional members and 178 ambassadors, operating across 95 jurisdictions and disciplines. Global Digital Finance will be renamed GBBC Digital Finance, based in the United Kingdom, with teams predominantly across EMEA and APAC. Sandra Ro, CEO of the GBBC, said: “I am so grateful to our GBBC and GDF communities of changemakers. They are why we exist and drive our mission of educating, advocating, and advancing partnerships to create new opportunities for the many, not the few.

Our global collaboration, scale, and influence will be a game-changer for our members and for Web3 as a whole. I am incredibly excited about the forthcoming positive impact of this combined network across industries and sectors.”

Lawrence Wintermeyer, GDF Board Chair, has been appointed to the GBBC Board of Directors.

He added: “The rapid growth and viability of blockchain, crypto, and digital assets means there is a clear need for

effective, harmonized regulation built on a robust global framework.

Leading global institutions and leaders need to work with each other, with governments, and with regulators to deliver this framework, and there is a vital role for GBBC and GDF to play in facilitating and driving this crucial collaboration.”

David Treat, a Senior Managing Director and Global Metaverse Continuum Business Group & Blockchain Lead at Accenture, said:

INDEPENDENT RESOURCE ASSESSMENTS REVEAL OIL AND GAS POTENTIAL OFFSHORE NEWFOUNDLAND AND LABRADOR CONTINUES TO GROW

Newfoundland and Labrador’s 2022 Independent Oil and Gas Resource Assessments released show a potential of 50.3 billion barrels of oil equivalent (P50 unrisked volumes) in the Eastern and the South Eastern Newfoundland Regions.

The two resource assessments for 2022 are based on new data covering parcels on offer by the CanadaNewfoundland Offshore Petroleum Board (CNLOPB) in the Orphan basin and the southern Salar basin.

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US $13 MILLION INVESTMENT BY ABB TO EXPAND PRESENCE IN CANADA

Principle Power has been contracted by ERM to advance the Front-End Engineering Design (FEED) for a Wind-to-Hydrogen Dolphyn 10 MW demonstrator project off the coast of Aberdeen.

The contract was signed after ERM Dolphyn was awarded £8.62m of funding from the UK Government, via the Low Carbon Hydrogen Supply 2 Competition.

ERM Dolphyn (Deepwater Offshore Local Production

of HYdrogeN) has developed a concept design to produce largescale green hydrogen from floating offshore wind. The ERM Dolphyn concept employs a modular design integrating electrolysis and a wind turbine on a moored floating semisubmersible platform based upon the proven WindFloat® technology by Principle Power to produce hydrogen from seawater, using wind power as the energy

source. ERM and Principle Power have been collaborating on the development of decentralized hydrogen production opportunities since 2019.

“It is now established that to meet net-zero ambitions in the UK and all around the world, hydrogen from offshore floating wind needs to be a significant component in any viable long-term solution for heat, electricity generation, and transport. The ERM Dolphyn project, a firstof-a-kind, is an innovative integrated system combining all the technologies required to bring the latest floating wind and hydrogen production technologies together to enable offshore wind resources to contribute toward hydrogen production at

scale. Principle Power has been instrumental in this process, and we’re delighted to extend our collaboration”, said David Caine, Partner at ERM. The 10 MW demonstrator project is a key step in proving the Dolphyn concept prior to commercial-scale deployment. The demonstrator project is targeting operations in late 2025. Commercial scale projects (300MW+) are under development and expected for operation pre-2030, followed by large-scale (GW) deployment post2030. When fully deployed, at an expected 4 GW total capacity, ERM Dolphyn has the potential to supply energy to heat more than 1.5 million homes with no carbon emissions, thus avoiding the release of millions of

tonnes of CO2 into the atmosphere every year.

100 000 new jobs by 2050 ERM Dolphyn is a core project for the UK’s Hydrogen coast strategy, and it is expected to help generate >10.000 new jobs by 2030 and more than 100.000 by 2050.

Many of these jobs will rely on the world-class skills and knowledge found in the offshore

renewables and Oil and Gas sectors. This massive opportunity is not without challenges: the rapid scaling up of floating offshore wind to meet both governments’ and markets’ energy transformation goals requires an equally massive investment in the entire supply chain. A healthy supply chain, engaged early on, is essential to having a holistic view of each

project’s challenges and achieving the desired cost reductions that will bring floating offshore wind LCoE in line with other forms of energy generation.

“We are pleased to continue our years-long collaboration with ERM on the Dolphyn project, and we are eager to further develop partnerships across the entire supply chain supporting floating offshore wind applications to support and accelerate growth in the UK and globally.

Moving to FEED on the Dolphyn project is a significant milestone towards our collective carbon-free future“, said Gregory-Campbell Smith, Senior Business Developer Manager, Europe at Principle Power.

On the other hand,

getting to the utility-scale requires advancements in modularization and industrialization, for which Principle Power is leveraging its 15 years of experience and lessons learned in precommercial projects such as WindFloat Atlantic (25 MW, Portugal) and KOWL (50 MW, UK) to streamline everything from design concept to manufacturing to installation and load-out.