Page 13 - NorthAmOil Week 03

NorthAmOil
NEWS IN BRIEF
NorthAmOil
DOWNSTREAM
Freeport LNG Train 2 begins commercial operation
McDermott International, with its partners, Chiyoda International Corporation and Zachry Group, today announced the beginning of commercial operation of Train 2 of the Freeport LNG project, owned by Freeport LNG Development.
“We continue to advance the Freeport LNG Project with another significant accomplishment, the commercial operation of Train 2,” said Mark Coscio, McDermott’s Senior Vice President for North, Central and South America. “Congratulations to the joint venture project team who has maintained a commitment to safety and quality. Now we turn our full attention to delivery of the final train.”
Zachry Group, as the joint venture lead, partnered with McDermott for the Pre-FEED in 2011, followed by FEED works to support the early development stage of the project as a one-stop shop solution provider for Trains 1 and 2. Later Chiyoda joined the joint venture partnership for work related to Train 3. The project scope includes three pre-treatment trains, a liquefaction facility with three trains, a second loading berth and a 165,000 cubic metre full containment LNG storage tank.
Freeport LNG Train 3 remains on track to meet its previously announced schedule, with
initial production of LNG scheduled for Q1 of 2020.
MCDERMOTT INTERNATIONAL, January 17, 2020
MOVES
Enverus and Concho
Resources develop solution
to reduce erroneous
overbilling
Enverus, the leading energy SaaS and data analytics company, and Concho Resources today announced they will bring to market a new product, Audit Analytics, which enables energy companies to reduce costs by identifying erroneous overbilling in high volume shale operations.
Audit Analytics builds on Concho’s proprietary vendor auditing program that it developed using data created by OpenInvoice and OpenTicket, industry leading Enverus SaaS applications for oilfield business automation. Audit Analytics quickly identifies overbilling situations and provides evidence that can be used when seeking compensation. This new solution underscores how business automation solutions and data can be paired to improve the modern energy value chain and reduce costs.
“Operating efficiently is a key priority for Concho, and as part of our efforts to reduce costs, we developed a solution that identifies and mitigates vendor overbilling,” said Jack Harper, President of Concho Resources. “We are proud to work with Enverus to bring our system to market as Audit Analytics. We believe there is significant demand for this type of solution as other companies across our industry look to eliminate fraud and strengthen cost controls.”
“Concho Resources is one of the largest unconventional shale producers in the Permian with a strong internal vendor auditing program. Concho’s industry leading work has demonstrated that when the right data and analytics are effectively integrated and analyzed, the efficiency of auditing can be significantly improved and therefore the savings multiplied,” noted Jeff Hughes, CEO and President at Enverus.
“Cost efficiency is the name of the game now and Concho is the perfect company
to work with. From reducing costs, to monitoring human error, to uncovering potentially finable, illegal activities, the upside to expanding this system, and applying it industry wide, could be enormous. We believe the system will soon help many customers identify tens of millions of dollars – possibly hundreds of million dollars – in fraudulent activity and wasted capital,” Hughes said. ENVERUS AND CONCHO RESOURCES, January 21, 2020
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