Gas
D5 debuts at OTC 2015 set to move creative processes in offshore technology
By Yemie ADEOYE
Houston, Texas, USA – The Offshore Technology Conference’s (OTC) new event D5: The Next Big Thing debuted Friday after the just ended Offshore Technology Conference at the University of Houston, Houston, Texas,
From left to right: U.S. Department of Energy’s Paula Gant, Congressman Bill Flores, Gamal Hassan of ADH International, Gustavo Hernandez Garcia of Pemex,
USA signaling the commencement of moves to drive creative processes in global Offshore technology.
As promised, d5 was unlike any other energy industry event before it. Born out of the realization that the offshore energy industry is in the midst of a global technology boom, d5 brought together innovators, entrepreneurs, investors, economists, and other thought leaders to jumpstart the creative process, highlight emerging developments and inspire leadership.
“We are entering a period where the technological possibilities are beginning to exceed our imagination,” said Steve Balint, chair of the OTC d5 Advisory Board. “This means there are tremendous opportunities just waiting to be plucked if we can get beyond the ‘this is how we have always done it’ mindset.”
The day-long event attracted more than 300 global energy professionals and featured a collection of 10 non-energy industry luminaries, each of whom discussed game-changing technologies to help foster new ideas about “the next big thing” for offshore. Serving as master of ceremonies was Helge Hove Haldorsen, d5 Advisory Board member. “There are challenges, and there are solutions,” he said. “I do not worry about the future of energy when I see these bright minds here.”
Speaker Recaps
When it comes to leadership, former U.S. Navy commander Mike Abrashoff said he has been successful by focusing on excellence without arrogance. “You cannot order excellence,” he offered. “You must create a culture of engagement and ownership.”
Former NASA astronaut and ex-officio member of the Columbia Accident Investigation Board Mike Bloomfield talked about safety and how space exploration and oil and gas exploration face similar challenges.
Futurist Lisa Bodell stated that “simplicity is the new norm,” as a company culture of clear vision will be the efficient ones moving forward.
Genomic researcher Juan Enriquez shared how programmable cells will transform systems for fuel, biomedics and even human evolution.
Consultant Partha Ghosh encouraged attendees to connect the dots of all the speakers to take back to their own companies and “make crazy ideas prosper.” He added that the industry should change return on investment (ROI) to return on inspiration.
Frans Johansson, author and entrepreneur, described how disparate disciplines have connections if they are viewed through the perspective of intersections. He noted, “The unexpected is what makes us stand apart.”
Political scientist Bjorn Lomborg said the most vital tenant that will help change the world is free trade.
Jane McGonigal, an expert on the engagement economy, encouraged attendees to consider games for collective problem solving. In addition, she suggested using gamification to predict human behavior in a possible crisis.
Economist Michael Porter described his research demonstrating how the energy industry-more than any other-is making the US more globally competitive.
Avi Reichental, president of 3D Systems, said redefining printing is reinventing the American dream. He asserted, “The technology is here now, and it is exciting to disrupt your own business model since 3D lets you make great things happen.”
Throughout the day, there were breakout sessions for questions and answers with the presenters. The event concluded with a networking reception.
During the event, OTC announced that d5 will return in 2016 at Rice University on Friday, 6 May.
“Following d5’s initial success we are excited to begin planning next year’s endeavor,” said Art Schroeder, OTC d5 Program Committee Chair.
Announces ambitious expansion plans
Platform Petroleum says the company is targeting a billion-dollar investment as it announces an ambitious strategic plan to bring 3 marginal fields into production by 2025, with a target of 10,000 barrels of oil and at least 50 billion standard cubic feet of gas per day.
Speaking on the sidelines of the 2024 Offshore Technology Conference (OTC) in Houston, USA, Chief Dumo Lulu-Briggs, Chairman of Platform Petroleum said that the company has scheduled a roadshow in London this June 2024 to raise extra funding to finance their ambitious expansion plans.
“The upcoming roadshow aims to attract equity partners and prepare for future opportunities, targeting a billion-dollar investment. We are seeking partners ready to invest in Nigeria’s oil and gas potential.
Our goal is to showcase the country’s vast opportunities and its potential to international investors” Lulu-Briggs said.
Platform Petroleum’s roadshow in London will highlight the company’s efficient production, upgraded flow stations, increased capacity, and achievements in nearly zero emissions.
With about one percent gas flare currently, Platform aims for zero gas flares by the last quarter.
“Nigeria is a vast market, and Platform Petroleum is thinking big. With the government’s ambitious plans, such as the Lagos-Calabar coastal line, Platform is poised for growth; pushing itself to the next level, building on a strong foundation and following Seplat’s successful precedent”, Lulu-Briggs said.
Despite being a small company, he emphasized that Platform Petroleum has demonstrated significant success and efficiency, showcasing that smaller oil and gas entities can indeed achieve remarkable feats adding that he believes that the company deserves recognition and more assets.
“Platform Petroleum is ambitious, aspiring to become a tier-1 company akin to international oil companies (IOCs) or a tier-2 company like Seplat. Interestingly, Seplat originated from Maurel & Prom, Shebah Petroleum, and Platform Petroleum, and today stands as a major player in the industry.
This history underlines Platform’s potential for substantial growth”, Lulu-Briggs said.
Furthermore, the Platform Petroleum Chairman said that the Offshore Technology Conference (OTC) is a crucial event for promoting Nigeria’s significant market potential.
“Partnering with the Petroleum Technology Association of Nigeria (PETAN) at OTC is key to attracting investment. The current proactive government understands the necessity for economic growth, and Platform is prepared to leverage every opportunity in the oil and gas industry to contribute to this expansion”, he concluded.
Precious ADELOLA
The NNPC/Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market.
The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European Crude Conference in London, on Tuesday.
OML 29, an asset located onshore Nigeria, is operated by Aiteo Eastern Exploration & Production Ltd, Africa’s leading indigenous hydrocarbon producer, following a historic acquisition from Shell in 2014.
NNPCL Boss, Engr. Mele Kyari
The Nembe Crude was previously blended with the popular Bonny Light grade and exported via the Bonny Oil & Gas Terminal.
The unique selling point of the Nembe Crude Oil grade with an API gravity was highlighted by both the Aiteo E & P and NNPC Limited Leadership at the Argus Conference in London.
The Nembe Crude Oil grade also has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the required spec of major buyers in Europe.
Two cargoes of 950,000 barrels each of the Nembe Crude Oil grade have since been exported to France and the Netherlands. With its attractive Assay of API 29 and low sulphur content, the Nembe Crude Oil grade commands a premium to the global Brent benchmark.
With the NNPC-Aiteo OML 29 JV back on-stream, Nigeria now boasts of an additional crude oil export of 2 Cargoes at 950,000 barrels each per month and 1.2 Bcf of export gas monthly.
This remarkable achievement signals the commencement of activities at Nigeria’s newest crude oil terminal, the Nembe Crude Oil Export Terminal (NCOET), which was licensed in line with the extant laws and Crude Oil Terminal establishment regulations.
The terminal was conceived as a Floating Storage and Offloading Vessel (FSO) with a storage capacity of two (2) Million Barrels and the ability to offload crude oil to any export tanker from AFRAMAX to Very Large Crude Carriers (VLCC).
It has a loading capacity of 25,000 barrels per hour and will be exporting over 3.6 million barrels of Crude oil monthly at full scale of operation.
Currently, hydrocarbon production from OML 29, which was hitherto constrained due to evacuation challenges owing to the security issues around the Nembe Creek Trunk Line (NCTL) corridor, has now been resolved through a collaborative and creative approach that led to the innovation of the Alternative Crude Oil Evacuation Solution.
The Argus European Crude Conference 2023 in London is a gathering of energy majors, refiners, NOCs, traders, financial institutions, and other representatives from across the global oil markets. The event also provides a critical opportunity for business leaders to connect, discuss, share and learn from one another.
Modupe Asudo
Major players in the oil and gas sector in Nigeria led by the Nigerian National Petroleum Company Limited (NNPCL) have covenanted to optimise operations by reducing contracting cycle to not more than 180 days.
A statement issued by the company disclosed that the Memorandum of Understanding (MoU) to this effect was endorced on Monday in Abuja at the company’s head office.
Other parties to the the contract include, the Nigerian Content Development and Monitoring Board, (NCDMB) and international oil companies.
Biztellers reports that an optimised contracting cycle was expected to improve the ease of doing business, reduce cost and drive efficiency, which would eventually translate to production growth, increased revenues, and ultimately improved profitability.
In addition, the MoU was expected to contribute significantly to the double-digit economic growth rate agenda of the Federal Government and generate value for all stakeholders, including investors, companies, host communities and Nigeria.
Notable elements in the framework of the MoU, going by the statement, included a reduction of the contracting cycle for open competitive tender, selective tender, and single sourcing tender to 180, 178, and 128 working days respectively.
This was in contrast with the current best effort performance of 327, 333, and 185 working days respectively.
According to Group Chief Executive Officer, NNPCL, Mele Kyari, signing the agreement portends exciting times for Nigeria’s oil and gas industry, in addition to standing as a bold testimony that the company was plunging into the future of hope, productivity and success.
Kyari, represented at the occasion by Executive Vice President, Upstream, NNPCL, Oritsemeyiwa Eyesan, pointed out that with oil and gas as the bedrock of Nigeria’s economy, there was need to get the contracting process in the Industry right so as to get the economy back on track.
In his remarks, Executive Secretary, NCDMB, Simbi Wabote, described the MoU as a way forward and a critical step towards enhancing the nation’s crude oil production.
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