Buyuma Weekly Energy Roundup(Wk #16)

Hello There,

Welcome to this week's global Buyuma?oil and gas weekly update covering the latest energy news that made waves around the world.

Norwegian technology firm Vissim has secured a contract from Indonesian national energy company Pertamina to install a new marine surveillance system at its PAPA ONWJ oil platform in Indonesia.

Vissim’s scope of supply is to deliver radar technology, vessel traffic management system software, and an oil spill detection system.

Below are?updates that made the headlines in the Oil and Gas industry

TechnipFMC Picks Up ‘Large’ Subsea Contract for ExxonMobil’s Whiptail Off Guyana

Oilfield services company TechnipFMC has secured a ‘large contract’ from 埃克森美孚 to supply subsea production systems for the Whiptail development in Guyana’s Stabroek block.

TechnipFMC will provide project management, engineering, and manufacturing to deliver 48 subsea trees and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.

For TechnipFMC, a ‘large contract’ is valued between $500 million and $1 billion. “ExxonMobil Guyana will utilize our Subsea 2.0 systems and manifolds, which help provide schedule certainty.

We have already delivered more than 100 subsea trees for ExxonMobil Guyana – the location of one of the world’s fastest developing basins – and we look forward to deepening our relationship with them through Whiptail,” said Jonathan Landes, President, Subsea at TechnipFMC .

Whiptail is TechnipFMC’s most recent award from ExxonMobil Guyana, where the company has been awarded subsea production system contracts since the first contract award in 2017 for Liza Phase 1.

Earlier in April, the Italian offshore energy services firm Saipem received authorization to proceed with the execution of works for Whiptail oilfield development. Saipem’s scope of work entails the detailed Engineering, Procurement, Construction, and Installation (EPCI) of a subsea production facility, and the company said it will use its FDS2 vessels, Castorone and Constellation, for the offshore installation. ExxonMobil also awarded a contract to SBM Offshore to construct and install the Jaguar FPSO for the Whiptail project.

Eelume Partners with Exail

Exail was selected by Eelume AS to supply its Phins Compact C3 Inertial Navigation System (INS) for Eelume's new S-Series all-terrain autonomous underwater vehicles (AUV).

The Eelume S-Series is a new generation of all-terrain AUVs specifically designed for mapping and operating in challenging underwater terrains.

Unlike traditional AUVs, they boast 360° of maneuverability in roll and pitch, offering versatility and sustainability in accessing previously unreachable environments.

Providing highly accurate and robust navigation data, the Phins Compact C3 INS will enhance Eelume AUVs' capabilities for efficient exploration, inspection, and monitoring in complex environments such as hillsides, under-ice areas, vessels, and harbors.

Its compact OEM form factor will ensure easy integration into the AUVs, facilitating swift deployment and streamlining operations.

Pertamina Picks Vissim Oil Spill Detection System

Norwegian technology firm Vissim has secured a contract from Indonesian national energy company PT Pertamina (Persero) to install a new marine surveillance system at its PAPA ONWJ oil platform in Indonesia.

Vissim’s scope of supply is to deliver radar technology, vessel traffic management system software, and an oil spill detection system.

Vissim will also provide operational and maintenance support over a two-year period.

The core of Vissim’s technology is a specially designed software platform that through input from millions of data points creates situational awareness of the geographical area and increases understanding of maritime safety, security and efficiency.

“This is the first oil spill detection module deployed for Pertamina Our vessel traffic management system will digitize the area around the platform, and our radar-based oil spill detection system helps to identify and manage any unwanted incidents. In sum, this will help protect personnel and assets, safeguard the offshore installation, and help reduce the environmental footprint of the PAPA ONWJ platform,” said Mark Ravi, Vissim’s regional sales director in South-East Asia.

The Norwegian company will deliver its system as subcontractor to its local partner PT Warga Kusuma Jaya, which specializes in maritime navigation systems and coastal surveillance systems.

This is the second project that Vissim and PT. Warga Kusuma Jaya collaborates on offshore Indonesia.

Vissim, who also will provide installation support and operational support post-installation to Pertamina, has not disclosed the value of the contract.

Work on ExxonMobil’s oil project in Guyana enables Strohm to score its largest pipe supply deal ever

Dutch thermoplastic composite pipe (TCP) technology player Strohm has picked up the largest commercial award for pipe supply in its 16-year history, thanks to a new contract for an oil development off the coast of Guyana with 埃克森美孚 Guyana Limited, a subsidiary of the U.S.-headquartered energy giant ExxonMobil.

The Netherlands-based manufacturer’s latest TCP ‘jumper on demand’ contract is for the supply of TCP for the Whiptail development, which is ExxonMobil’s sixth project in the Stabroek block offshore Guyana.

A final investment decision (FID) to develop the project was made at the end of last week upon the receipt of all regulatory approvals.

Strohm’s new contract brings the project count for work with the U.S. oil major in Guyana to three, following previous awards for the Yellowtail and Uaru projects.

The jumpers, which are made of carbon fiber and PA12 polymer, will be installed at water depths over 1,600 meters. These jumpers will operate in the region of 10,000 psi.

The use of TCP is expected to enable ExxonMobil to slash the CO2 footprint of its pipeline infrastructure.

Once the TCP for Whiptail, which will be used for water and gas (WAG) injection, has been produced at the Dutch firm’s manufacturing facility in the Netherlands, the technology will be supplied to ExxonMobil in a single, continuous length along with associated pipe handling equipment.

Strohm explains that this concept and delivery method allows the individual 24 jumpers to be cut to the desired length, terminated, and tested onsite in Guyana, providing flexibility to the end user.

The development concept for the Whiptail project, which covers the Whiptail, Pinktail, and Tilapia fields, along with potential additional resources should they be feasible and economically viable, entails drilling operations to produce oil from around 40 to 65 production and injection wells.

The $12.7 billion project, which has an expected field life of at least twenty years, is anticipated to come online in 2027.

Strohm is not the only company that has been recently hired for the Whiptail project, as SBM Offshore is in charge of front end engineering and design (FEED) work for the FPSO Jaguar, which is destined to work on the project, Saipem is tasked with detailed engineering, procurement, construction, and installation (EPCI) of a subsea production facility, and TechnipFMC is responsible for the supply of subsea production systems.

Covering 6.6 million acres or 26,800 square kilometers, the Stabroek block is operated by ExxonMobil with a 45% interest.

The company’s partners in the block are Hess Guyana Exploration (30%) and CNOOC Petroleum Guyana (25%). Strohm has collected several new achievements lately.

At the end of last year, the Dutch player received DNV qualification for its deepwater TCP flowline, claiming to be the first company to receive such accreditation from the verification body.

In the aftermath of a TCP hydrogen testing program, the firm outlined that TCP showed exceptionally low hydrogen permeation values, demonstrating technical suitability for high-pressure hydrogen service.

Subsea Well Access and Blowout Preventer System Market revenue to cross USD 6 Billion by 2036, says Research Nester

The global subsea well access and blowout preventer system market size is estimated to attain at 4% CAGR from 2024 to 2036. The market is expected to garner a revenue of USD 6 billion by the end of 2036, up from a revenue of USD 3 billion in the year 2023.

The major element to dominate the market revenue is growing requirement to reduce carbon emission.

For instance, in 2022 the emission from carbon dioxide from energy combustion and industrial process rose by about 0.8% or close to 320 Mt.

Therefore, the market demand for subsea well access and blowout preventer system is estimated rise since it provides eco-friendly solutions and drive sustainable practice.

Read more here

That's it for this week. Until next time, Cheers!