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INDUSTRY FOCUSUPSTREAM OIL & GAS


While there is a lot of tendering activity right now and we are really busy negotiating contracts for firm business in the future, virtually none of it relates to project cargo movements in 2019 − it is all for 2020 and beyond. – Sune Thorleifsson, SAL Heavy Lift


William Hill, executive vice president – oil and gas for Dubai-based shipping, logistics and marine services group GAC, suggested both medium and long-term business prospects look positive. “Deepwater assets are gaining contracts,


albeit at a slow pace and a static day rate. We are also seeing increased demand for our services in the North Sea and the Middle East, where jack-up [rig] demand is good,” he remarked. Longer term, oil and gas companies


need to respond to growing demand for energy by exploring and extracting resources in harsh and deepwater environments “where even the simplest of logistical tasks can be difficult, complex and costly”, Hill added. “So, while lower risk onshore


investment is a compelling option, offshore hydrocarbon production already contributes significantly to the global energy market and will continue to do so, with cost reductions making it easier to


GAC is seeing increased demand for its services in the North Sea and Middle East, where demand for jack-up rigs is high.


compete with the onshore sector.” Tim Killen, executive vice president at


deugro Group, believes that project owners have adopted a pragmatic approach towards major capital developments in the field. "With regard to new projects in 2019,


there has appeared to be a lack of confidence from project owners and investors in committing funds to support FIDs on major capital projects in the oil and gas industry. This is due to the perceived financial risks in project


Brazil set to become decommissioning hotspot


Brazil could emerge as an offshore oil and gas asset decommissioning hotspot with the potential to generate work for logistics services providers over the next few years. While most eyes have been focused on


decommissioning activity in the North Sea and the US Gulf, recent reports suggest more than 40 percent of Brazil’s current total of nearly 160 offshore platforms are expected to cease operations between now and around 2025. The resulting potential for decommissioning work was confirmed by José Luis Vidal, managing director of Sao Paulo-based WV Logistics Solutions & Services. “There is a national programme in progress for the


decommissioning of the mature production fields of Petrobras, which will require large equipment for the


36 January/February 2019


removal of massive subsea structures,” he commented. In fact, he said, Brazil is already seeing a number


of new contracts for such work coming through, as well as mergers and acquisitions involving some of the companies related to the sector. To date, though, the pace of actual


decommissioning work worldwide has been slower than originally anticipated, due in large part to the huge costs associated with such projects. Speaking with HLPFI earlier this year, Klint


Klingberg-Jensen, partner at Danish law firm Poul Schmith, said that various issues are holding back the offshore decommissioning sector. “There are a lot of external factors such as oil prices; and there are changes in terms of assets being sold by the larger


operators to smaller private equity firms and new operators, which also obviously impacts the timing of the decommission activities. Everyone wants to squeeze the fields for the last drops.” Some logistics service providers, though, have


been undertaking decommissioning work and meeting the particular operational challenges involved for many years. One example is GAC. “Supporting the decommissioning of assets has


always been a core part of GAC’s business,” commented William Hill, the group’s executive vice president – oil and gas. “It is a costly exercise that requires careful


planning and execution, meticulous observance of environmental objectives and concerted efforts to minimise safety risks.”


www.heavyliftpfi.com


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