2017: The year’s biggest Hydrocarbons Technology stories

Tellurian and Bechtel signed agreements worth $15.2bn for Driftwood LNG

Tellurian awarded contracts worth $15.2bn to Bechtel Oil, Gas and Chemicals for the engineering, procurement and construction (EPC) of Driftwood LNG, located near Lake Charles, Louisiana, US.

The proposed liquefied natural gas (LNG) export facility includes 20 liquefaction units, each having slated production capacity of up to 1.38 million tonnes per annum (mtpa), three 235,000m³ LNG storage tanks and three marine loading berths.

In addition, the facility will also adopt liquefaction technology from Chart Industries’ integrated pre-cooled single mixed-refrigerant (IPSMR) process; and 20 General Electric Corporation (GE) refrigeration compressors, each powered by GE aero-derivative natural gas turbines.

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Noble Energy acquired Clayton Williams Energy for $2.7bn

Noble Energy signed a definitive agreement to acquire Clayton Williams Energy by purchasing all of the outstanding common stock for $2.7bn in a cash and stock deal.

The boards of directors of both companies have unanimously approved the transaction.

Under the transaction, Noble Energy will acquire 71,000 net acres in the core of the Southern Delaware Basin in Reeves and Ward counties, Texas, located adjacent to its properties.

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CH2M received global engineering services contract from Shell

CH2M executed a framework agreement with Shell to deliver engineering, procurement, construction and project management services to oil and gas projects located worldwide.

The new agreement is in line with CH2M’s consistent efforts to make transformational improvements in capital project delivery efficiency in the oil and gas sector.

Under the contract, CH2M will employ the latest safety management system, improve capital project execution and work on technology and project management innovation.

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Gazprom planned to construct 1,100km of Power of Siberia gas pipeline by year end

Russian firm Gazprom revealed plans to complete construction of more than 1,100km of the Power of Siberia gas pipeline by the end of the year.

The plans were revealed at the company’s press conference, which focused on Russian gas supplies to China via the eastern route.

The company noted that the construction project for the trunkline is ahead of schedule. By the start of the current year, 445km of the pipeline’s linear part was built, while as of this month, around 774km was ready.

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Woodside and GE signed deal to support LNG usage in Western Australia

Woodside signed an agreement with GE Oil and Gas to work together to support the usage of LNG as a fuel source in Western Australia.

The agreement will enable customers with the option of seamless access to reliable LNG fuel supply and gas-fuelled transport and power generation solutions.

Woodside is one of the largest oil and gas companies in Australia and owns producing assets located in the north-western region, including the North West Shelf Project and the Pluto LNG Plant.

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ConocoPhillips closed $13.3bn sale of its Canadian oil sands assets to Cenovus

US-based exploration and production company ConocoPhillips completed the $13.3bn sale of its 50% non-operated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership and the majority of its Western Canada deep basin gas assets to Cenovus.

A definitive agreement was signed by the company with Cenovus in relation to the sale in March this year.

ConocoPhillips Canada retains its 50% operated interest in the Surmont oil sands joint venture and operated 100% Blueberry-Montney unconventional acreage position.

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Fluor received contract to upgrade two refineries in Texas

Marathon Petroleum Corporation (Marathon) unit selected Fluor Corporation to execute the engineering and procurement work for a major reconfiguration at its refineries in Galveston Bay and Texas City, Texas.

The value of the contract has not been disclosed.

Fluor will book the value of this contract into backlog in the first quarter of this year.

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Saudi Aramco planned to improve production with $300bn investment

Saudi Aramco made plans to invest more than $300bn into its business operations over the next decade, in order to maintain its spare oil production capacity and undertake exploration programme to increase the supply of gas.

The company is looking to ramp up its oil production and strengthen its standing in the sector through the investment.

It also intends to utilise the latest technology in order to meet its commitment to the Paris Climate Agreement.

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Indian Oil planned to invest approximately $8.1bn in Odisha’s Paradip refinery

State-owned Indian Oil (IOC) is set to invest around Rs520bn ($8.1bn) to expand the Paradip refinery and establish a petrochemical complex in the Indian state of Odisha, according to the Press Trust of India.

The development comes after the Odisha Government committed to restoring part of the tax incentives.

A previously announced incentive package announced by the government gave IOC the right to defer payment of sales tax by 11 years on Paradip refinery products sold in the state.

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Metgasco signed farm-in agreement over exploration well in Australia

Metgasco signed an agreement with Senex Energy and Cooper Energy to farm-in to the Frey-1 Well Area within PEL93 in the South Australian Cooper Basin for a 20% working interest.

The decision to farm-in will depend on the outcome of drilling and testing.

The Frey prospect is said to have the potential for stacked pay in multiple formations and is a four-way dip-closed anticline, evident on all stratigraphic levels.