Page 16 - MEOG Week 32.indd

MEOG NEWS IN BRIEF MEOG

POLICY OIL The workscope for the second stage of
ISND-5 project involves at least one wellhead
Middle East crude- Quartet poised to submit topsides, subsea pipelines and brownfield
modifications required at the offshore oilfield,
benchmarks fall; ADNOC Qatar North Dome bids sources said.
The wellhead platform is expected to be a
cuts Sept OSPs Up to four leading international contractors four-legged structure with 16 slots and will be
are poised to submit price bids by the middle
installed in about 33 metres of water. During
Middle East crude benchmarks Oman and of this month for a key offshore contract the first stage at ISND-5, a grouping of Qatar’s
Dubai fell on Tuesday as market participants involving the fifth development phase of Qatar Qcon and Saipem landed an EPC contract
awaited the release of fresh official selling Petroleum’s (QP) Idd El-Shargi North Dome from QP last year for work on a wellhead
prices (OSPs) and Saudi crude allocation (ISND) oilfield in the Persian Gulf. jacket meant for the offshore development
results. Multiple people familiar with the ISND- project.
Abu Dhabi National Oil Company 5 tender process told Upstream that four QP in 2019 took over operatorship of the
(ADNOC) has set the September OSP for its offshore contractors are preparing commercial field and is currently carrying out the fifth
benchmark Murban crude at plus $0.85 per offers for the project. development phase at ISND, which involves
barrel to Platts Dubai, lowering it by $0.90 “We have submitted technical offers for multiple wellhead platforms that are being
from the previous month, the company said. ISND-5. Contractors are now working on the added in different stages.
Refiners were still waiting for Saudi price offers, which are likely to be submitted In addition to the ongoing tender process,
Aramco’s allocation results for term crude by middle of this month” one person said. QP wants to add three wellhead platforms at
buyers, traders said. A second person also confirmed the the ISND oilfield during its next development
ONGC offered a Russian Sokol crude cargo development and said the much delayed stage and that project is believed to be
loading Oct 27-Nov 2 via its second spot ISND-5 tender process is moving forward, currently in the front-end engineering and
tender this month. The tender will close on despite the Covid-19 challenges. design phase.
Thursday. “The tender process has been delayed by a The Qatari state-owned giant — headed
Vietnam’s Dung Quat oil refinery has few months, but is now back on track. We are by chief executive Saad Sherida al Kaabi —
processed its first batch of Sokol crude oil on a hoping that QP will finalise an award before last year took over the operatorship of both
trial basis, paving the way for further reducing the end of this year,” he said. the ISND and Idd El-Shargi South Dome
its reliance on shrinking domestic Bach Ho Tenders for ISND-5 were issued by QP (ISSD) fields after US independent Occidental
output. last year, but its submission process became Petroleum’s development and production
Energy companies have begun taking delayed on a few occasions due to the sharing agreements expired.
back millions of barrels of oil from the U.S. coronavirus outbreak. QP had said that “the integration of ISND
government’s emergency stockpile after Those set to submit price offers include and ISSD illustrates the development of Qatar
renting storage in the facility to help manage a Italy’s Saipem and Rosetti Marino, McDermott Petroleum’s distinctive technical capabilities in
glut of crude this spring after energy demand International of the US and Malaysia’s Sapura operating and managing oil and gas fields”.
collapsed during COVID-19 lockdowns, a Energy, project watchers said. The existing ISND oil production facilities
Department of Energy website showed on Vietnam’s Petro Vietnam Technical include a bridge-linked production station,
Monday. Services Corporation (PTSC) was also in PS-1, together with several remote wellhead
REUTERS the fray, but dropped out at a later stage, one platforms.
person said. These wellhead platforms are unmanned

P16 www. NEWSBASE .com Week 32 12•August•2020