OGUK, the trade body representing interests of the UK&rsquo s offshore oil and gas industry, has urged the government to allow new oil and gas fields, &ldquo or risk surging import bills and future shortages.&rdquo

The trade body said it was reacting after the debate over the Cambo offshore oil and gas field, planned 75 miles west of Shetland. It would deliver 170 million barrels of oil, plus some gas, over 20 years.

&ldquo This week Nicola Sturgeon [Scottish First Minister] joined environmental groups in suggesting such projects should not go ahead, citing concerns over climate change. The final decision rests with the UK government which has long recognized the need for secure energy supplies," OGUK said.  According to Siccar Energy, which acquired the Cambo licenses from OMV in 2017, Cambo is one of the largest undeveloped fields in the UKCS and will open up other prospects for potential development in the area.

" OGUK&rsquo s research shows, however, that the UK is already becoming highly reliant on other countries and has to import half its gas,&rdquo OGUK said Saturday.

It also cited the UK government&rsquo s trade figures which showed show that, in the year to June, the UK paid Norway £ 5.2 billion for gas plus £ 6.1 billion for crude oil Russia £ 524 million for gas and £ 3.2 billion for oil Qatar £ 675m for liquefied natural gas USA £ 2.8 billion for crude oil.

OGUK, which says the projects planned by its members are essential to maintain production and protect UK consumers during the planned transition to lower-carbon forms of energy, warned that if new projects like Cambo are not approved then UK production would plummet with gas output, for example, falling up to 75% by 2030. This would leave the UK increasingly reliant on imported energy, OGUK said.

Deirdre Michie, chief executive of OGUK, said: " The UK&rsquo s offshore oil and gas industry is committed to helping the UK government meet its ambitious net zero goals. We accept all the science around climate change and the need to cut emissions, but this transition must be managed.

&ldquo If we cut our own supplies of gas and oil faster than we can reduce demand then we will have to import more of what we need. Our import bills will go up without any reduction in emissions.

&ldquo That means we need to develop new oil and gas reserves simply to maintain domestic production

&ldquo These new projects will help protect consumers, supply the UK with lower-carbon energy, reduce our need for imports and support the 200,000 people working in the industry as it transitions to a greener low-carbon future.&rdquo

OGUK has also shared an infographic detailing why the UK needs new oil and gas fields. See below:

Sembcorp Marine Partners GE Renewable Energy&rsquo s Grid Solutions to Build State-of-the-art Electrical Transmission System for RWE Renewables

Sembcorp Marine makes further inroads into renewable energy sector

Singapore, 29 March 2021  &ndash Sembcorp Marine Ltd and GE Renewable Energy&rsquo s Grid Solutions have secured a contract from RWE Renewables, to supply the high voltage direct current (HVDC) electrical transmission system for the Sofia Offshore Wind Farm.

Located on Dogger Bank, 195 km off the north east coastline of UK in the central North Sea, Sofia spans an area of 593 km2. With a capacity of 1.4 gigawatt (GW) that will power the equivalent of nearly 1.2 million UK homes with clean and renewable energy, Sofia will be one of the largest wind farms in the world when completed.

Sembcorp Marine and GE Renewable Energy&rsquo s Grid Solutions began early design works for the project in July 2020, after being chosen as the preferred supplier of the HVDC electrical transmission system. The HVDC system represents Sofia&rsquo s second largest contract and is worth approximately £ 600 million (S$1.12 billion).

The contract work scope comprises the design, manufacture, installation, commissioning and maintenance of the offshore converter platform (OCP) and the onshore converter station (OCS), including all ancillary equipment. Sembcorp Marine&rsquo s scope of work includes the design, construction, installation and commissioning of the OCP.

The OCP, at the heart of the wind farm, comprises a 17,000-tonne topside and jacket foundation structure piled into the seabed 220 km from the nearest shore. It will be the most powerful and most remote OCP ever built.

Sven Utermö hlen, Chief Operating Officer Wind Offshore Global of RWE Renewables said: &ldquo Signing this contract with the consortium of GE&rsquo s Grid Solutions and Sembcorp Marine for the supply of Sofia&rsquo s HVDC electrical system reflects RWE&rsquo s strong commitment to innovation and to pushing the boundaries of what is capable within the sector. The 1.4GW Sofia project is our first to use the HVDC technology, which was selected to maximise the wind farm&rsquo s export capacity from a location so far from shore. We are delighted to be working with such a strong pairing on the delivery of this flagship project located on the remote Dogger Bank, in the middle of the North Sea.&rdquo

Mr Samuel Wong, Head of Sembcorp Marine Offshore Platforms said: &ldquo Sembcorp Marine is excited to work on this mega-project with GE Renewable Energy&rsquo s Grid Solution to support RWE Renewables&rsquo Sofia Offshore Wind Farm project to augment its supply of wind energy in the UK.&rdquo

Singapore' s Keppel Offshore & Marine has secured a contract from an undisclosed renewable energy company to build two offshore substations topsides (OSS) worth around S$110 million (around 73,4 million U.S. dollars).

Keppel O& M, through its subsidiary Keppel Fels, will be responsible for the engineering, procurement, construction, testing and commissioning for the topside modules of two OSS. 

This excludes the OSS foundations, as well as certain electrical components to be provided by the client. 

" It is scheduled to be completed in 2024 to be deployed in an offshore wind farm," Keppel Offshore & Marine said.

The company said that the contract would be on progressive payment milestones and will have neutral project cashflow.  

Chris Ong, CEO of Keppel O& M, said, " We are pleased to secure this contract, which reflects Keppel O& M&rsquo s continuing pivot towards renewables and cleaner energy solutions. It is testament to Keppel O& M&rsquo s execution excellence, as well as our ability to deliver reliable, consistent, and quality solutions for the offshore wind industry.&rdquo



The Sofia HVDC convertor substation that Sembmarine is building at its Batam yard is about 4-5 times bigger than the above. Looks like the Singapore united yard is progressing well in the offshore windfarm space.  Green is the new gold.

 

A bit of cold water. It is highly likely that only 10% or so of the traded volume are genuine volume. More likely for it to drift back to 8.3/ 8.4 over the next week or so. Straight up is not the smartest way to cover short. And we are dealing with goldman Sach here, the ultimate vampire squid. I could be wrong. Heavily vested