Month June 2016

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Saipem wins $209m Saudi petchem plant deal

Saudi Arabia’s PetroRabig said on Monday it had awarded a construction contract for its Rabigh II expansion project to Italian oil service group Saipem.
PetroRabigh, a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical, said the total cost of the 30-month contract to expand its petrochemicals complex was SR782 million ($208.5 million).
The contract includes a plant to process and recover vanadium and a unit to dispose of caustic soda besides handling of some other facilities, a statement from the firm said.
The Rabigh II expansion project included an expansion of an existing ethane cracker and a new aromatics complex to process more than 2.7 million tonnes of naphtha a year to make higher-value petrochemical products.

Minister: Saudi Aramco could import gas to boost use in energy mix

Saudi Aramco could invest in importing gas into the kingdom, but the priority would be on finding new source of gas domestically through exploration, Saudi Arabia’s energy minister said on Tuesday. Even thought it is the world’s largest oil exporter, Saudi Arabia has struggled to keep pace with domestic gas demand in recent years as increased use from industry and power generation put pressure on supplies.”Gas makes up 50 percent of our enrgy mix now and we aspire to raise this to 70 percent from all sources, be it local or, if it is possible, from a source to import from at a competitive price, “Khalid al-Falih told a news conference announcing the kingdom’s National Transformation Plan. Falih, who is also Aramco’s chairman, indicated earlier this month that the energy giant would be interested in investing in international upestream opportunities, particulry in gas. While Aramco has several overseas joint ventures in the refining and petrchemical sectors with foreign oil companies, it has not pursued similar deals in upstream initiatives.

Mongolia seeks substation muscle – Tender expected in third quarter of 2016 for work on 50MW Tsetsii wind farm

The developers of the 50MW Tsetsii wind farm in Mongolia are seeking a contractor to help complete an extension to the Tavantolgoi substation, which will connect the project to the grid.
The wind farm, which will be located approximately 542km to the south of Ulaanbaatar in the Gobi desert, is being developed by the Mongolia’s Newcom Group and Japan’s SB Energy Corp with finance from the European Bank for Reconstruction and Development and the Japan International Cooperation Agency.
It is expected to be complete in late 2017.
The National Power Transmission Grid Company owns and operates the substation and is responsible for the extension.
The work on the substation will involve the supply and installation of plant and equipment, including the switchgear foundation, quality control and design.
Tendering for the contract is expected to start during the third quarter of 2016.

Record growth in renewable energy

Renewable energy generating capacity is showing record growth, especially in developing countries, according to a new report by REN21, a provider of comprehensive information on renewable energy.
Renewables are now cost competitive with fossil fuels in many markets, highlighted the REN21 Renewables 2016 Global Status Report.
Government leadership continues to play a key role in driving the growth of renewables, particularly wind and solar, in the power sector. As of early 2016, 173 countries had renewable energy targets in place and 146 countries had support policies.
Cities, communities and companies are leading the rapidly expanding “100 per cent renewable” movement, playing a vital role in advancing the global energy transition; and additional growth factors include better access to financing, concerns about energy security and the environment and the growing demand for modern energy services in developing and emerging economies.
Commenting on the report Dr Stephan Singer, World Wildlife Fund (WWF) director for Global Energy Policy, said: “Globally, renewables continue to grow fast. We now have five times more solar and wind energy compared to 10 years ago. But still they constitute only 6 % of all electricity generated. Despite rapid growth of investments into those clean energy sources, fossil fuel and nuclear investments are still three to four times higher.”
While some European nations like Denmark, Germany, Sweden, Portugal and Spain still lead on per capita installation of wind, solar and biomass, the overall largest investments into renewables last year came from China, US, India and Japan. The European investments into renewables have been declining for the past five years, he said.
Leadership on zero-carbon development is moving to the South, he said.
“Like last year, overall investments and installations of renewables have been significantly larger in developing nations than in the OECD and Russia. More striking, poorer nations like Morocco, Uruguay, Honduras, Nicaragua, South Africa and Jordan for example, have spent around one per cent and more of their GDP for renewable energy expansion, much more than for instance China, US, Japan or Germany,” he added.
Tanzeed Alam, Climate & Energy Director, Emirates Wildlife Society-WWF said: “It is encouraging to see renewable energy reach new record-breaking levels around the world, something that is crucial to maintain if we are to address climate change in line with the goals of the Paris Agreement to stay below 1.50C of warming.
“While the UAE and the wider region has huge potential to use solar power, it is also not yet being fully capitalized. We would like to see more ambition on setting national targets as well as cohesive policy frameworks to scale up implementation on the ground. Doing so would not only reduce our carbon dioxide emissions, but also create thousands of jobs and help the economy diversify away from oil and gas.”
Raf Senga, WWF’s manager for energy policy for Asia-Pacific said: “Renewable energy is the only way the world can grow electricity generation capacity in line with the 1.50C warming limit agreed by governments last year. Asia, the fastest growing region in the world, has the potential to impact this target through its energy choices. By choosing to follow the global trend of scaling up renewables, Asia can ensure they will reduce the damaging impacts of climate change while increasing energy security for millions.”

Amec Foster Wheeler wins India LNG import and regasification terminal contract

06.06.2016|Your Oil and Gas News
Amec Foster Wheeler announces today that it has been awarded a contract by Indian Oil LNG Private Ltd. Co. (IOLPL) for the Liquefied Natural Gas (LNG) Terminal in Ennore, Tamil Nadu, on the east coast of India. This award follows the successul completion of a front end engineering and design contract for the terminal in 2012.
As part of the new contract, Amec Foster Wheeler’s responsibilities include the supervision of works related to various Engineering Procurement and Construction contracts for the LNG regasification and marine import facilities, as well as the LNG storage tanks. Amec Foster Wheeler will also undertake Project Management Consultancy activities for the entire project, from engineering development and construction phases, through to pre-commissioning, commissioning and start-up of the terminal.
This is a 42 month contract which will be delivered at the end of 2018.
Roberto Penno, Amec Foster Wheeler’s Group President, Asia, Middle East, Africa and Southern Europe said:”Following our successful completion of the FEED contract, delivering this next phase of this project reinforces our position as a leading provider of LNG services to the Indian domestic market”.

Italian oil company Eni’s CEO meets with Libyan premier

The CEO of Italian oil giant Eni has traveled to Tripoli for the first time since July 2014 to meet with the new head of Libya’s U.N.-backed government.
Eni said in a statement that the meeting Saturday between CEO Claudio Descalzi and Libya’s new prime minister, Fayez Serraj, underlines Eni’s commitment to continuing operations in Libya and to support the National Oil Corporation’s efforts to increase production.
Eni was the first international oil company to resume operations in Libya in 2011 after months of civil war and currently produces 300,000 barrels of oil equivalent a day. Eni has maintained operations in the country, continuing both its exploration activities offshore as well as helping supply gas for local power plants for domestic consumption.

Saudi Aramco, GE and Cividale to build new forging and casting facility

Saudi Aramco has signed a memorandum of understanding (MoU) with GE and Italy’s Cividale to build a new forging and casting manufacturing facility in Ras Al-Khair, Saudi Arabia, to serve the maritime and energy industries.
The new facility will involve a joint investment of more than SAR1.5bn ($400m).
Saudi Aramco senior vice-president of finance, strategy and development Abdallah Al-Saadan said: “The MoU reflects our ambition to create a robust supply chain that builds positive synergies in the oil and gas manufacturing sector.
“This builds on our deep commitment to support the goals of Saudi Vision 2030 to promote economic and industrial diversification in the Kingdom and boost localised manufacturing.”
Set to be operational in 2020, the facility will complement Saudi Aramco’s plans to develop various industrial projects in Saudi Arabia, including a maritime project that focuses on building, maintenance, repair and overhaul (MRO) of offshore platforms, jack-ups, offshore service vessels and commercial tankers.
The plant is expected to create 2,000 jobs and will serve all projects, as well as providing services and technologies to downstream and other industries across the region and global markets.
The MoU follows a partnership between Saudi Aramco and Cividale to conduct feasibility studies for forging and casting manufacturing services in Saudi Arabia.
In addition, Saudi Aramco is collaborating with its partners to develop an onshore rig manufacturing facility for providing new build and MRO services to onshore rigs and systems.
Other projects of this partnership will include an engine manufacturing project, manufacturing and repair of marine pumps; and an energy industrial city to improve manufacturing industries in the oil and gas sector.
GE Oil & Gas Middle East, North Africa and Turkey president and CEO Rami Qasem said: “For the forging and casting manufacturing facility, we will leverage our already strong expertise in ‘Made in Saudi’ manufacturing.”

Nepal Seeks Investors for 10 GW of Hydropower Projects by 2026

With the keynote that Nepal requires US$20 billion to develop 10 GW of on-grid hydropower projects in the next 10 years, the largest power investment conference concluded successfully today in Hotel Yak & Yeti, Kathmandu.
The Energy Development Council (EDC) — the umbrella organization of the entire energy sector — organized the four-day summit ‘Nepal Power Investment Summit 2016’ with the government partnership Ministry of Energy and Investment Board of Nepal.
The summit also declared the need for a US$5 billion investment in high-voltage transmission line projects to complete by 2035. Budhigandaki 1,200 MW, Nalsingad 410 MW, Tamor 762 MW, Andhikhola 180 MW, Tamakoshi V 87 MW, Upper Tamor 415 MW, Tamakoshi III 650 MW and Thuli Bheri 530 MW projects were identified as prominent opportunities for investors.
Investors expressed interest in exploring investing in mid- and large-scale power projects in Nepal worth billions of dollars provided the investment environment improved and Nepal’s ranking in the ease of doing business increased. They have also expected to soon have a one-window policy to get all necessary approvals and permits for doing business.