Page 14 - Euroil Week 16 2020

EurOil
NEWS IN BRIEF
EurOil
year comparable period.
TechnipFMC has secured quarterly order
intake of $2.1bn, down 66% from $6.2bn in Q1 2019.
Subsea division generated $1.17bn.
Subsea reported first quarter revenue of $1.25bn, up close to 6% compared to the corresponding period in 2019.
2020 revenue guidance for subsea division was in a range of $6.2 – 6.5bn. However, TechnipFMC said it now expects to convert only $3.1bn of backlog into revenue for remainder of the year.
At the end of the first quarter 2020, TechnipFMC backlog was $22bn ($17.8bn in Q1 2019), including subsea backlog of $7.8bn.
Safety issues found during audit of Equinor’s Troll A
Norwegian offshore safety watchdog, the Petroleum Safety Authority (PSA), has found irregularities during an audit of Equinor’s management of major accident risk and barriers on the Troll A platform offshore Norway.
The PSA said on Monday that the audit was conducted between January 16 and March 11 2020.
The objective of the audit was to assess how Equinor ensured compliance with the authorities’ requirements in respect of the management of major accident risk and barriers at Troll A.
According to the offshore regulator, two non-conformities with the regulations were identified regarding capacity
and competence as well as labelling of equipment on the facility.
Also, five improvement points were observed relating to uncertainties in documents describing the organisational model, moisture in emergency lighting, fire resistance, explosion pressure, and site-specific expertise.
The PSA told Equinor to report by May 15 2020 on how the non-conformities
would be addressed, and for its assessment of the improvement points.
The Troll field lies in the northern part of the North Sea, around 65 km west of Kollsnes, near Bergen.
According to Equinor, it represents the very cornerstone of Norway’s offshore gas production since it contains about 40% of total gas reserves on the NCS.
Troll is also one of the largest oil fields on the Norwegian continental shelf. In 2002 the oil production was more than 400,000 barrels per day (bpd).
Equinor operates the Troll A, B, and C platforms and the landfall pipelines, while Gassco is the operator for the gas processing plant at Kollsnes on behalf of Gassled.
As for Troll A, Equinor claims it is
the tallest structure ever moved over
the surface of the Earth. It is a condeep offshore natural gas platform built for a producing life of 70 years. The platform is the only one of its kind on the NCS that is powered electrically from land.
North Macedonia increases fuel tax to support state budget amid coronavirus crisis
North Macedonia’s government has adopted a decree on April 21 to increase the excise duty on the sale of fuel by MKD3 (€0,05) per liter to provide funds for budget needs amid the coronavirus (COVID-19) crisis.
The country has been in a state of emergency with restrictions on movement of the population since mid-March, which reduced fuel consumption and drastically lowered the retail price of fuels.
“The decree was adopted to mitigate the economic consequences due to the increased costs for dealing with the coronavirus,” the government said in the
statement.
At the same time, the government
expects that the increase of the excise duty will not cause additional financial burdens on legal entities and citizens, due to the significant drop in oil prices on the world stock exchanges and the domestic market.
Fuel prices dropped by MKD20 in the period from January 8 to April 6.
All funds from the increase in the fuel tax will go to the state budget for dealing with coronavirus including the economic and social measures to support businesses and citizens, the government underlined.
Trans Adriatic Pipeline
for Azerbaijani gas 94%
complete at end of March
consortium cited as saying
The Trans Adriatic Pipeline (TAP) project— the last pipeline link required for Azerbaijan to meet its ambition of exporting natural gas to the European Union—was 94.1% complete at the end of March, the TAP consortium was on April 20 cited as saying by News.Az.
“TAP is currently moving further into the project construction phase. Every
day hundreds of meters of TAP’s Right of Way (ROW) are cleared, strung, welded, lowered into the trenches and backfilled,
in line with the project construction steps and schedule,” the consortium was cited as saying of the €4.5bn project that will enable gas flows to reach southern Italy via a route that stretches from the Turkish border, across Greece and Albania and the Adriatic Sea.
Prior to that, gas from Azerbaijan’s Shah Deniz II development in the Caspian Sea
is to flow through Southern Gas Corriodor (SCG) pipelines to Turkey via Gerorgia.
TAP’s shareholders are BP (20%), Socar (20%), Snam (20 %), Fluxys (19%), Enagas (16%) and Axpo (5%).
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