Oil & Gas news in brief
Lloyd’s Register (LR) has been awarded a new contract from S-Oil Corporation (S-Oil) covering the implementation of a fully integrated risk-based inspection (RBI) system. The contract which is for S-OIL’s largest investment project – a new $4.2 billion residue upgrading and Olefin downstream complex (RUC/ ODC) plant in Ulsan, Korea – commenced in June.
The new contract will see LR deliver additional RBI consultancy services across areas such as systems, software training, and inspection management modules. Mr. Dong-Hak Lee, S-OIL’s Inspection Department Manager noted: “Coupled with its vast proven technical experience, we believe LR’s continued responsiveness will be pivotal in accelerating our momentum to successful project completion in 2018.”
Aquaterra Energy has won a major contract to supply subsea high pressure riser (HPR) equipment and services for a subsea abandonment project in the central North Sea. The deal will see Aquaterra facilitate the abandonment of ten subsea wells via deployment of a subsea HPR system from a jack-up rig. The scope of work could be extended to include two further subsea wells bringing the total number of abandonments to 12.
Aquaterra’s Initiation Engineering or ‘Well Start’ specialism has been implemented on the project to deliver a one-stop shop for extensive expertise to optimise well activity by taking responsibility for the entire first phase of the well. This approach minimises third party interfaces across a client’s project and addresses supply and equipment requirements, before the introduction of a blowout preventer. It can also mitigate risk and cut down on costly logistics, capex/opex, the number of crew involved and therefore, helicopter and accommodation needs.