In Brief

Oil & Gas news in brief


Tight grip
International joint integrity specialist Hydratight has launched the new Gripping Socket torque accessory, which is designed to significantly improve operator safety during bolting operations. The socket has been precision-engineered to grip onto a nut during the bolting process, reducing the need for the user to manually stabilise square-driven hydraulic wrenches. This gripping feature also enables the operator to perform bolting using a remote operating device, keeping vulnerable parts of the body such as hands and fingers away from pinch points and pressurised hydraulic connections.

Gas and oil deal
Law firm Bond Dickinson LLP, alongside Dechert LLP, has advised Chrysaor, the UK oil & gas independent, on a multi-billion dollar deal as it acquires a package of UK North Sea assets from oil giant Shell. The $3 billion + transaction relates to a package of assets in the UK North Sea, which produced 115,000 barrelsof oil equivalent per day in 2016. Following completion, the acquisition will see Chrysaor become the leading UK independent focused on the North Sea. The deal is expected to complete in the second half of 2017 and will result in the transfer of around 400 Shell staff to Chrysaor.

Power in Alaska
ABB is to provide an innovative microgrid, combining battery and flywheel based storage technologies, designed to test scalability and improve power stability for around 300,000 people in Anchorage, Alaska, USA. The small scale project, initiated by Chugach Electric Association, Inc., aims to identify technologies that will enable the integration of more renewables, including wind power from a 17 megawatt (MW) wind farm on Fire Island, located about four km off the coast of Anchorage, which will work in concert with the innovative storage solution.