FPO
Oil & Gas and Petrochemical market has grown up by 30% in 2017 in respect with the number of projects sanctioned for execution with EPC contracts. This number confirms our last year forecast and gives credit to our estimation of 20% to 35% growth for 2018. This market upturn is driven by a market shift from the IOCs to the NOCs and Independent companies, representing both nearly 80% of the capital expenditure as operator on the next five years. As a results the projects get smaller and run on fast-track requiring more agility from the sales organizations for detection and capture.
Take it further Headquartered in Paris, France, Technip is one of the largest engineering companies with more than 32,000 people covering all sectors of the oil and gas and petrochemical industry offshore and onshore, upstream, midstream and downstream. Established in 1958, Technip is today listed in NYSE Euronext Paris and USA through an American Depositary […]
Statoil’s withdrawal opens door to Gazprom for new partnership with other Majors Since Gazprom, Total and Statoil could not make the final investment decision (FID) in June 30th on Shtokman despite $1.5 billion capital expenditure already spent in the project, some major changes were expected in the project. Statoil‘s decision to withdraw from the project, […]
Definition Tie-back in the offshore oil and gas upstream activities refer to the connection of additional risers to the floating vessel or platform. Comments Originally the offshore oil and gas industry used to focus on large fields that could be explored and produced in drilling strait below the floating vessel or the platform. But the high […]
Definition Turret is the major component of a vessel or any floating production unit (FPSO, FPO) to which the risers coming from the seabed are connected. Turret name refers the rotating function of this large equipment to facilitate the rotation of the vessel according to winds, waves and dominating current while the risers remain connected to a […]
Statoil, ENI and Petoro expect more to come from Skrugard and Havis exploration The Skrugard and Havis fields are located 5 kilometers from each other at a vertical depth of 1740 meters below sea level at a water depth of 388 meters in the PL532 licence area which was awarded in 2009 in connection with the […]
Gas prices and high costs dictate to rethink Shtokman The foreseen capital expenditure for the Shtokman gas field development came up from first estimated $15 billion to $30-40 billion. This costs escalation is resulting from multiple factors including the combined target to produce 50/50 natural gas and LNG. This goal appeared to have a great impact on […]
Gazpromdobychashelf, the wholly owned Gazprom subsidiary and operator of Shtockman projects, has annouced to expect the completion of the FEED for the offshore pipeline at the end of the year. In parallel, WorleyParsons is making good progress on the FEED of the FPSO, the solution selected for the second and third phases of Shtockman. With a […]
