Page 14 - EurOil Week 08 2021

EurOil NEWS IN BRIEF EurOil

Premier-Chrysaor merger to providing innovative solutions that Equinor restarts production
meet the demands of a low-carbon future,
clears regulatory hurdles according to the company’s strategy to be a of methanol factory in
global energy leader in making the future of
All of the regulatory conditions relating to markets sustainable. Norway
Premier Oil’s merger with Chrysaor have now As such, Saipem developed the new CO2
been satisfied and all of the requisite antitrust estimation tool with the aim of quantifying Equinor has restarted production at a
approvals have been received and completion the carbon footprint of an entire EPCI methanol plant in the Tjeldbergodden
is expected by the end of March 2021. (Engineering, Procurement, Construction, industrial facility located northeast of Aure in
ollowing the receipt of notice from the Oil and Installation) project following the Life More og Romsdal county, Norway.
and Gas Authority (OGA), the regulatory Cycle Assessment methodology. Commissioned in June 1997, the
condition to the transaction regarding One of the examples of Saipem’s efforts in Tjeldbergodden industrial facility
Premier’s and Chrysaor’s licence interests in reducing emissions includes an agreement comprises three plants: a methanol
the UK has been satisfied, Premier said on with energy infrastructure operator Snam plant, a gas receiving terminal and an air
February 22. last year to work together on new energy separation plant.
In addition, Premier has received anti- transition technologies, green hydrogen The methanol plant, together with the
trust approval in relation to the merger development, and CO2 capture and reuse. air gas factory, was closed on December
from the Mexican Economic Competition Saipem has also entered into a 2, 2020 following a fire outbreak in the
Commission. collaboration with compatriot Eni for compressor building in the methanol
Furthermore, following the positive decarbonization projects in Italy in a push factory area at Tjeldbergodden.
creditor vote on February 22, the transaction to reduce carbon intensity and achieve CO2 Following safe start-up preparations, the
remains subject to sanction by the Scottish reduction targets. facility has now begun supplying methanol
Court of the restructuring plans expected to Saipem further explained that this to the market again.
take place on March 19. tool aims to estimate the overall CO2 Equinor Tjeldbergodden plant manager
Assuming the Scottish Court sanctions emissions of a project in each phase, based Lena Skogly said: “Our number one
the restructuring plans, Premier expects the on the actual performance of Saipem priority has been safe and secure start-up
transaction to complete on March 31 with assets (engineering offices, vessels, and of the facility. I’d like to thank everyone
Premier’s shares to be readmitted to trading fabrication yards) and other processes such who contributed to get the facility back
on April 1 as Harbour Energy plc. as procurement and transportation. online, both our own employees and
To remind, Premier reached an agreement This information supports Saipem’s and external expertise. It takes time to check
with Harbour’s UK operating company its clients’ decision-making processes since all technical matters and damage due to
Chrysaor regarding a proposed all-share it helps identify those activities with the the fire.
merger between Premier and Chrysaor and largest impacts in terms of CO2 emissions, “Thorough inspections in the facility, as
the reorganisation of Premier’s existing debt especially to demonstrate the environmental well as testing and validation of equipment
and cross-currency swaps in early October sustainability of projects, mainly the ones that may have been affected by the fire
2020. related to renewable energy. have been carried out.
Under a decision made in December In recent company news, Saipem was “During these efforts, it’s been
2020, the new entity will be named Harbour earlier this week awarded a contract from important to extract learning from the
Energy. It is anticipated that the board of Qatargas worth approximately $1.7bn. incident and ensure that we have the
Harbour Energy will comprise 11 directors.. technical and operative barriers in place
before start-up. This painstaking work
Enagas says finances makes us confident that the facility will
Saipem develops CO2 unscathed from the produce in a safe and stable manner.”
Equinor, which owns an 82.01% stake
estimation tool for offshore pandemic and its 2020 in the Tjeldbergodden industrial facility,
said the investigation of the fire is still
projects underway.
ConocoPhillips Scandinavia owns the
Italian oilfield services company Saipem has profit increases by 5% remaining 17.99% interest in the facility.
developed a new tool for the estimation of the The operator of the Spanish gas network The methanol plant has a production
carbon footprint of its offshore projects. Enagás reported on February 22 a 5% capacity of around 900,000 tonnes per year.
Saipem said on Wednesday it has won increase in its annual profit and said that its
the Environmental Sustainability Award accounts had not been greatly affected by the
in International Marine Contractors COVID-19 pandemic. North Macedonia expects
Association’s (IMCA) 2020 Awards Net profit for 2020 rose to 444mn euros,
programme, for an innovative CO2 up from 422.6mneuros a year ago, while completion of two gas
estimation tool in its offshore projects. revenue fell 5.8% to 1.08bn euros, the
company said. pipeline sections this year
The tool is named SOCE (Saipem “No significant changes have been
Offshore Carbon Estimation). identified with respect to the situation The construction of the Skopje-Gostivar
This award has been granted to the presented throughout 2020, which reveal and Negotino-Bitola gas pipeline sections in
company following the successful assessment impacts derived from the Covid-19 situation North Macedonia will be completed this year,
of its tool based on criteria such as in the financial information as of December officials said on February 24.
innovation and the environmental, social, 31, 2020,” Enagas said in a release. 80% of the construction works on
and economic benefits. the 53-km Skopje-Gostivar section, an
Saipem emphasised its commitment investment of €29mn, have been completed

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