Gazprom: Work on Underwater Section of Turkstream to Begin in H2 2017
and delivery points into Europe, Miller said. "In December...we will make a decision how we will work. It's about gas supplies via Turkey towards the Turkish-Greek border and construction of new pipelines on EU territory toward the South of Italy". Gazprom had for years pushed its South Stream gas link project, to allow it to ship gas direct to southern Europe while circumventing Ukraine. But it had to scrap the South Stream project because of opposition from Brussels. (Reporting by Denis Pinchuk; Writing by Christian Lowe
Standardization for Cost Effective Pipeline Innovation - DNV GL
, Chief Engineer Pipeline and Transport Technology, Statoil ASA DNV-OS-F101 provides firm guidance for design, construction and operation, which has made it the global leading standard primarily for offshore submarine pipelines. It has been used for many high profile pipeline projects ranging from South Stream in the Black Sea, through to Langeled and Polarled in the North Sea to Wheatstone and Ichthys in Australia. It was the first and remains one of the few limit state design codes available for pipelines. The standard is risk based and based on load and resistance factor design (LRFD) format
Moody's Reviews Saipem's Rating
will experience rising financial stress with much lower cash flows. Saipem's backlog stood at a significant €19 billion as of 1H 2015. Although this declined to €17.8 billion as of 3Q 2015 due to a lack of significant new wins in the quarter and the cancellation of the €1.2 billion South Stream contract, it also excludes in excess of €600 million of new engineering and construction (E&C) offshore contracts announced in Q4 2015. This €18 billion contracted revenue backlog provides some visibility into 2017 for both the E&C and drilling businesses, with €2.5 billion
Saipem to Resume Operations for Black Sea Pipeline
Italian oil contractor Saipem said on Friday it would restart work on an offshore pipeline in the Black Sea after South Stream Transport BV lifted a suspension of the works. Saipem had bagged contracts worth 2.4 billion euros last year mainly to build the first line of the South Stream pipeline from Russia to Bulgaria, but had to suspend work when the project was shelved in the face of objections from the European Union. Saipem is 43 percent owned by oil major Eni. (Reporting by Francesca Landini)
Subsea Vessel Ops Predicted to Grow Over Coming Years
over the period. Total volumes of activity are expected to be sustained at around current levels with the Middle East and Asia retaining a combined 66% share of the market. Geopolitical uncertainty in Europe is currently threatening the viability of high profile trunklines such as Gazprom’s South Stream project which could impact anticipated demand for both dedicated pipe layers and support vessels. Subsea well intervention is the smallest market segment covered in DW’s definition of subsea vessel services, accounting for just 5% of forecast spend. Aimed at providing a cost competitive
Saipem: No Changes to South Stream Work Suspension
Italian oil services group Saipem said on Tuesday it had been notified that no "significant" changes to the work suspension of the South Stream gas pipeline project were expected until Feb. 19, according to a statement. Saipem said on Dec. 4 that the project's "marine spread activities", which include pipe-laying operations, were suspended. This was just days after Russia abandoned the South Stream project, which was to supply gas to southern Europe without crossing Ukraine, citing European Union objections. It instead proposed an undersea pipeline to Turkey.
Eni Puts Saipem Stake Sale on Hold
Italian oil major Eni has put the sale of its stake in Saipem on hold after the cancellation of the lucrative South Stream gas pipeline project and plunging oil prices shaved off almost half the oil contractor's market value in two months. In July state-controlled Eni laid out plans to sell assets, including its 43 percent stake in Saipem, to help fund its transformation into a leaner oil and gas outfit. On Thursday Eni said in a statement it still considered Saipem as non strategic but that it had put any assessment of options on hold because of difficult market conditions. S
Giant Vessel to Change Offshore Decommissioning Game: Analyst
. The opportunity is significant – in the North Sea 478 platforms may need to be removed before 2045. The vessel has already won a number of contracts with removing three platforms from the Brent field up first. Along with this, the versatile vessel will be laying 890km of trunkline for the South Stream project. In the latest edition of its 'Subsea Vessel Report' Douglas-Westwood forecasts that $9.75 billion is to be spent installing pipelines globally between 2015 and 2017, demonstrating that the potential is there for significantly more work in both applications in the coming years.
Saipem Wins €400m South Stream Contract
Saipem has been contracted by South Stream Transport B.V. to provide supporting works relating to the construction of the second line of the South Stream Offshore Pipeline for a total value of approximately €400 million. The entire offshore South Stream project consists of four parallel gas pipelines, across the Black Sea from Russia to Bulgaria, each 931 kilometers long, to be laid at depths of up to 2,200 meters. According to this contract Saipem will perform additional supporting works, including engineering, coordination of storage yards, cable crossing preparation, and connecting the
February 2024
