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Department of Foreign Affairs and Trade Australia

Implementing the Principles for the Interoperability of Electronic Invoicing Systems in the APEC Region

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APEC Energy Transition Towards Net-Zero: Foresight Scenarios and Policy Impact

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National Oceanic and Atmospheric Organisation (NOAA) United States

Developing an Implementation Plan for the APEC Coastal Resilience Framework

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TGS scores OBN contract in North America

Oslo-listed seismic data specialist TGS has won an ocean bottom bode (OBN) acquisition contract in North America. The company said the contract is for more than six months with a “returning client” and that the award bolsters its footprint in the OBN market. TGS, which is set to merge with compatriot offshore seismic acquisition specialist and vessels player PGS, also bagged an OBN contract in the Gulf of Mexico late last year. The latest project is expected to enhance seismic data acquisition capabilities, facilitating more informed decision-making, the company said. “This initiative demonstrates the vital role that OBN acquisition plays in providing our clients with superior seismic data,” Kristian Johansen, chief executive of TGS added. Norway

UK offers over 30 oil and gas licenses in offshore wind farm sites

The UK has offered 31 new oil and gas licences to operators at sites which are meant for offshore wind licensing. The North Sea Transition Authority (NSTA) has offered 31 licences in the third tranche of the NSTA’s 33rd licensing round. A total of 82 offers to 50 companies have now been made in the round which attracted 115 bids from 76 companies across 257 blocks and part-blocks. The licences offered in the round could add an estimated 600 mmboe up to 2060, or 545 mmboe by 2050.? For those in favour of more oil and gas projects, this is seen as good news. Namely, there are currently over 280 active oil and gas fields in the North Sea and by 2030 around 180 of those will have ceased production due to natural decline. Offshore Energies UK believes that, without fresh investments, the UK will be reliant on oil and gas imports for 80% of its needs by 2030. Most of this would be regular news for a standard licensing round. But these licenses, apart from being licenses for fossil fuels, provoked ire from environmentalists as those areas were meant for more offshore wind farms. Supporters of the scheme believe that if any of the sites that should host wind farms prove suitable for oil and gas production, such platforms will be able to use power from the wind turbines to lower emissions. An agreement will have to be in place between the oil and gas firms and the offshore wind developers for drilling locations. Rishi Sunak’s former top net zero proponent, Chris Skidmore, who recently quit in protest of the government’s climate policies, was very vocal about this and told The Guardian that this was a deeply irresponsible and divisive move that went against all advice from the International Energy Agency and would further set back the UK’s climate reputation. “Instead of wind powering new oil, the investment should instead be in more wind and renewables. More fossil fuels will only create stranded assets and stranded jobs at a time when demand for oil and gas is falling,” he added. Greenpeace of course shared the sentiment. Doug Parr, policy director at Greenpeace UK, compared this decision to using a nicotine patch to roll a cigarette. “It’s hard to think of a worse use of clean electricity from windfarms than powering the dirty industry that’s driving the climate crisis,” Parr stated. However, there is something to be said United Kingdom

ADES wins jackup rig contract in Egypt

Saudi oil and gas driller ADES has secured a jackup rig contract in Egypt worth about $43m with Suez Oil Company. The deal covers a firm 21-month term for drilling works in the Gulf of Suez set to start in the coming weeks, the company said in a stock exchange filing. Last month, ADES agreed with its client in Saudi Arabia to temporarily suspend operations on five of its rigs in the Kingdom for up to 12 months. The latest contract follows ADES’ recent wins in Qatar and Thailand, set to start in late 2024, leaving two rigs left for redeployment. “The speed at which the redeployments will occur, just weeks post their temporary suspension, demonstrates our agility, the strength of our global platform and our competitive position with a highly marketable and demanded fleet of jackup rigs during very tight market conditions,” said Mohamed Farouk, chief executive of ADES Holding. Egypt

Seatrium awarded contract by Modec for Guyana-bound FPSO

Singapore shipyard group Seatrium has secured a contract from Japanese floater giant Modec for work on the Errea Wittu floating production storage and offloading (FPSO) vessel slated for the South American Uaru oilfield. The contract scope, with an undisclosed value, covers the installation and integration of topside modules onboard the unit and includes completion and commissioning support for Modec. The FPSO will be deployed as part of ExxonMobil’s $12.7bn project in the Stabroek Block, approximately 200 km offshore Guyana, with a targeted start-up in 2026. It will have the capacity to store 2m barrels of oil, produce about 250,000 bopd and have a gas treatment capacity of 540m cfd. Seatrium has delivered several FPSO projects for Modec over the years. The group is currently carrying out integration work for Brazil-bound FPSO Bacalhau and its BrasFELS yard in Brazil is also executing topside modules fabrication for FPSO Raia, operated by Norway’s Equinor. Singapore

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TGS scores OBN contract in North America

UK offers over 30 oil and gas licenses in offshore wind farm sites

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Seatrium awarded contract by Modec for Guyana-bound FPSO

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