Exploration & Production

Oil to average in the US$50s a barrel in 2018

GIQThe average price for Brent crude oil in 2018 will remain in the range of US$50s per barrel, according to Gulf Intelligence’s recent industry survey which was conducted across the Middle East and Asia

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Synectics wins multiple surveillance contracts in the Middle East

CoexSurveillance solutions business Synectics has received multiple contracts for onshore and offshore oil and gas developments, which will be spanning across Egypt, Saudi Arabia, the UAE and Iran

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Schlumberger announces DELFI cognitive E&P environment

delfi 300x168Schlumberger has unveiled the new DELFI cognitive E&P environment, which aims to enable collaboration across exploration and production (E&P) teams and leverage the full potential of all available data and science to optimise E&P assets

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Siemens Topsides 4.0 digital lifecycle solutions to assist with optimising offshore production

siemensSiemens is utilising its digitalisation knowledge and experience and applying it to the oil and gas production industry with its Topsides 4.0 solution

Underpinned by secure communications and centered around the key modules of compression, power generation, power distribution, and automation, Siemens Topsides 4.0 offers a digital lifecycle solution to offshore production facilities.

Topsides 4.0 begins during the conceptual and design phase of an offshore project and enables digital project management and manufacturing, virtual testing and commissioning, and finally, delivers an intelligent digital twin of the topsides facility. The digital twin comprises a virtual replica of the plant, the process and the automation system and how they interact, and assist in reducing life cycle costs through performance analytics and asset optimisation in a virtual environment.

While Topsides 4.0 is new, Siemens has extensive experience providing digital solutions across a wide range of industries – from faster patient diagnoses in healthcare to guaranteed on-time arrivals of trains on the Barcelona rail network, to a 30 per cent increase in vehicle production at a Maserati factory.

”Digitalisation is not a passing trend, but rather a foundational value-add technology in the oil and gas industry,” said Judy Marks, CEO of the Dresser-Rand business, part of Siemens Power and Gas, and CEO of Siemens USA. “Companies should not view digitalization as an IT initiative, but rather a business transformation initiative implemented via operational technology and enabled by IT,” Marks added.

Designed to reduce capital and operating expenses, shorten project development cycles, minimise interfacing risk, and reduce offshore manpower requirements, the Topsides 4.0 business model is strengthened by collaborative customer-supplier partnerships.

“For offshore vessels to reap the full benefits of digitalisation, we must combine our customer’s domain expertise with Siemens’ knowledge of products, automation and data analytics,” said Marks. “Getting to the point where oil and gas companies feel comfortable sharing data in a secure but open ecosystem will be critical as we jointly reinvent the oil and gas industry of today and tomorrow.”

The components comprising Siemens’ Topsides 4.0 digital solution have a strong track record of success. For example, Siemens delivered digital performance analytics for Aker BP’s Ivar Aasen offshore project off the Norwegian coast that enables Aker BP to reduce the platform’s physical manpower and optimise equipment maintenance schedules. The project, delivered on-time and on-budget, was so successful that Aker BP and Siemens created a strategic long-term partnership last spring to continue delivering digital lifecycle automation and performance analytics for Aker BP’s future field development projects.

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Total divests remaining 15 per cent stake in Gina Krog field in Norway to KUFPEC

GinaFrance’s energy giant Total SA has signed an agreement with Kuwait Foreign Petroleum Exploration Company (KUFPEC) to divest its remaining 15 per cent interest in the Gina Krog field in Norway

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