The first full scale prototype of a subsea variable speed drive has been successfully tested in a sheltered harbor in Vaasa, Finland, taking the vision of an all-electric subsea processing facility one step closer to reality. A variable speed drive is needed to boost the productivity of oil and gas processes and improve energy efficiency, while providing the highest reliability.
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Cenovus Energy Inc. plans to invest between $1.5 billion and $1.7 billion in 2018, with the majority of the budget allocated to sustain base production at the company's oil sands operations. The remaining capital will primarily support continued construction at the phase G oil sands expansion at Christina Lake, where costs are coming in below original expectations, and a targeted drilling program in the Deep Basin. This budget reflects Cenovus's focus on capital discipline, cost reduction and deleveraging.Highlights: (2018 budget vs. Nov. 1, 2017 guidance)
- Per-barrel oil sands operating costs - down 8%
- Per-barrel Deep Basin operating costs - down 11%
- Per-barrel oil sands sustaining capital costs - down 12%
- Christina Lake phase G go-forward capital efficiencies - a 21% improvement (vs. previous estimate)
- Total oil sands production - up 26%
The province of Alberta is building on recent moves to protect Albertans and the environment while ensuring a fairer liability system for oil and gas companies operating there.
NETZSCH Pumps North America, LLC, has added to its line of FSIP (full service-in-place) industry-leading NEMO progressive cavity pumps. Ideal for wear-intensive applications, the maintenance-friendly FSIP design has been re-engineered to provide full access to all the pumps' rotating parts. NEMO FSIP is now available in six sizes (NM045 to NM105) for flow rates up to 700 gallons per minute (gpm). NEMO FSIP models are now offered with differential pressures up to 90 pounds per square inch (psi) (1-stage) up to 180 psi (2-stage). S, L, D and P geometries are now available.
Daimler Trucks North America (DTNA) has announced that David Carson, currently president of Freightliner Custom Chassis Corporation (FCCC), has been appointed president of Western Star Trucks and chief diversity officer of DTNA. Carson succeeds Kelley Platt who has been promoted within the Daimler AG global organization to president and chief executive officer of Daimler's truck joint venture Beijing Foton Daimler Automotive Co., Ltd. (BFDA) in China.
Suncor has taken its first steps in the regulatory process to replace coke-fired boilers with two cogeneration units at its Oil Sands Base Plant as a part of its plan to remain globally cost and carbon competitive. In addition to providing the facility with steam needed for its operations, the cogeneration units are expected to export approximately 700 megawatts (MW) of electricity to the provincial grid, equivalent to roughly seven per cent of Alberta's current electricity demand.
MEG Energy Corp. has announced its 2018 capital investment plan and operational guidance. Highlights include:
- A 2018 capital budget of $510 million, 24% of which is directed towards the completion of the Phase 2B eMSAGP growth project, 20% towards an expansion of the pilot program involving the company's proprietary eMVAPEX technology and positioning the company to grow beyond 100,000 barrels per day (bpd), 43% towards sustaining and turnaround costs, and the remainder towards field infrastructure, corporate and other initiatives;
- Financial resources available to the company to fund its 2018 capital program include expected internally generated cash flow and cash on hand;
- Targeted 2018 average production in the range of 85,000 to 88,000 bpd, 2018 exit production in the range of 95,000 to 100,000 bpd, and non-energy operating costs of $4.75 to $5.25 per barrel. The operational guidance takes into account a major turnaround at the company's Christina Lake Phase 2B processing facilities planned for 2018, with an anticipated 5,000 to 6,000 bpd impact on production for the year.
Despite market changes, including some to the benefit of heavy oil processing in recent years, challenges still remain for investing in new heavy oil processing capacity in North America, says a new study by business information provider IHS Markit.
Canada's liquefied natural gas (LNG) export industry recently reached a milestone with the departure of its first shipment to China in a pilot project to determine long-term feasibility. LNG was supplied by FortisBC's Tilbury facility in Delta, logistics and equipment were provided by True North Energy Corporation and CIMC ENRIC Holdings Limited, and the cargo was shipped from Vancouver.
The Canadian Association of Oilwell Drilling Contractors (CAODC) has released its 2018 Drilling Forecast, which shows that the organization expects a slight increase over the projected 2017 industry numbers.
Alberta's economy is set to lead the country this year, with robust economic growth of 6.7 per cent. Next year, however, the province will take a back seat to British Columbia, who will emerge once again as the provincial growth leader, according to The Conference Board of Canada's Provincial Outlook: Autumn 2017.
Explor Geophysical Ltd. has just completed acquisition of a high-density 3D seismic survey that attained trace densities ranging from 5 million to 7 million seismic traces per square kilometer, beating their previous record. Over 124,000 source points were acquired on a single 150 km2 3D seismic survey.
T.D. Williamson (TDW) received the prestigious Global Pipeline Award, presented by the American Society of Mechanical Engineers (ASME), October 25 at Rio Pipeline 2017, Rio de Janeiro, Brazil. The annual award recognizes pipeline innovation and the value a company's contributions bring to the pipeline industry.
The resurgence in oil and gas production from the United States, deep declines in the cost of renewables and growing electrification are changing the face of the global energy system and upending traditional ways of meeting energy demand, according to the World Energy Outlook 2017. A cleaner and more diversified energy mix in China is another major driver of this transformation.