Print

Swire Oilfield Services partnering with PT Berkah Hidup Syukur

Swire Oilfield Services is pleased to announce that it has appointed PT Berkah Hidup Syukur as its exclusive partner for the Indonesia market effective 1 October 2020. The new partnership will maintain 3 bases in Indonesia, Jakarta, Lamongan and Balikpapan. The bases will be equipped with all the necessary facilities and equipment to support the delivery, maintenance, inspection and logistic of Offshore Containers.

 Swire Oilfield Services (SOS) has invested heavily in its South East Asian operations and has identified the market as central to its long-term growth strategy. SOS currently operates in excess of 4200 Offshore Containers in this region. The South East Asia operations currently have bases in Malaysia, Singapore, Brunei, Thailand and Indonesia.

2020 09 23 092719

 “We are excited to work with local company PT Berkah to further expand our presence in Indonesia and to continue our support to the Indonesian offshore Oil and Gas development. We see high potential as Indonesia is a sleeping giant, and it’s now awakening. We endeavour to introduce new products and services in the space of Energy and will continue to set the standard for quality, safety, innovation and excellence.”

Way Meng How, General Manager Asia Pacific

 “The Indonesian market in the future will be mostly offshore, now is the right time to expand the market that will develop rapidly. The partnership between Berkah and Swire Oilfield Services will generate synergies and the capabilities to dominate the rapidly growing market.” PT Berkah Hidup Syukur

Erik Yudhanegara, Director 

Print

Deal activity in global oil and gas industry largely driven by themes, says GlobalData

Mergers and acquisitions (M&A) activity across the oil and gas sector reached US$224.4bn in deal value in 2019, reflecting growths of 29% and 159% compared to 2018 and 2017, respectively. The main themes that drove this activity were shale, emerging economies, China impact and subsea, according to GlobalData, a leading data and analytics company.

GlobalData’s theme report: ‘M&A in Oil & Gas (2017–Q1 2020)’ analyses the key themes that were influential in enabling M&A and asset transactions within the oil and gas sector from 2017 to Q1 2020.

Snigdha Parida, M&A Analyst at GlobalData, comments: “Deal activity was also influenced by the need to make strategic partnerships to overcome the regulatory challenges, gain access to IoT, cloud or other emerging technologies and diversify into renewable energy. The growing importance of sustainability, combined with volatile oil prices and diminishing resources resulted in M&A for diversification.

“The equipment and services industry witnessed most of the technology-driven deals in the sector. Tightening profit margins and resources that are increasingly difficult to reach have, in part, made investments into technologies a necessity.”

In 2020, the COVID-19 pandemic has emerged as a new theme that has adversely impacted the oil and gas sector. The pandemic is likely to impact deals’ activities in the short-term.

Parida adds: “Low prices coupled with a prospect of low demand will not augur well for the sector and force to rethink on project timelines and cost-cutting across value chain. Buyers are wary of M&A deals while conserving cash for the future and possible target companies may also be reluctant to sell off at depressed prices.”

In Q1 2020, a total of 14 M&A deals with a transaction value of US$50m or more were announced in the global oil and gas space. These deals had a combined transaction value of US$4.2bn, which was down by 80% when compared to Q4 2019 and 95% down when compared to Q1 2019. 

2020 09 22 084921

In Q1 2020, GlobalData’s oil and gas index fell by 43%. The index remains 28% below January 2020 levels, turning many oil and gas companies into attractive bid targets.

Parida concludes: “Presently, the COVID-19 pandemic has created uncertainties in global energy demand that has compelled the oil and gas companies to evaluate their capital discipline and refrain from M&As. However, in the medium-term, the market correction could create attractive M&A opportunities in the sector.”

  • Comments provided by Snigdha Parida, M&A Analyst at GlobalData
  • Information based on GlobalData’s report: M&A in Oil & Gas (2017 to Q1 2020)
  • This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts 

About GlobalData 

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial and professional services sectors. 

Print

FSU to spearhead global working gas capacity additions through 2024

The Former Soviet Union (FSU) is expected to witness the highest global working gas capacity additions, contributing around 32% of the global gas storage capacity additions by 2024, says GlobalData, a leading data, and analytics company.

The company’s report, ‘Global Capacity and Capital Expenditure Outlook for Underground Gas Storage, 2020−2024 – Russia Leads Global Working Gas Capacity Additions’, reveals that the FSU is likely to witness a total working gas storage capacity additions of 899 billion cubic feet (bcf) by 2024. Of this, the capacity of planned projects that have received necessary approvals for development accounts for nearly 639 bcf.

Haseeb Ahmed, Oil and Gas Analyst at GlobalData, comments: “The FSU is expected to witness the start of operations of 11 new-build gas storage sites by 2024. Of these, nine are planned and the remaining two are announced sites. Uzbekistan’s Gazli II and Russia’s Stepnovskoe II are the largest upcoming gas storage sites in the region, with respective capacities of 247 bcf and 199 bcf by 2024.”

2020 09 17 091116

GlobalData identifies Europe as the second-highest contributor to the global working gas storage capacity additions contributing around 28% or 792 bcf by 2024. The region is expected to witness the start of operations of 27 planned projects and 21 announced projects. Deborah in the UK is the largest upcoming gas storage site in the region with a capacity of 174 bcf by 2024. Golianovo in Slovakia and Galata in Bulgaria are joint second-largest upcoming gas storage sites, each with a capacity of 53 bcf.

Ahmed continues: “The Middle East ranks third across the globe contributing roughly 17.5% of the world’s working gas storage capacity additions between 2020 and 2024. The region has nine upcoming projects, of which six are planned projects and the remaining three are announced projects. Turkey’s Tuz Golu II is the largest upcoming gas storage site in the region, with a capacity of 148 bcf by 2024.”

About GlobalData

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis, and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial and professional services sectors. PR10308.

Print

Nidec ASI takes water into the desert and wins 5 contracts in Saudi Arabia worth more than $50 million

Water is the new oil for Saudi Arabia and Nidec ASI - head of the Nidec Industrial Solutions platform belonging to the Nidec Group - which has always been committed to creating and supplying innovative, sustainable and customized solutions, has been awarded work orders for motors and drives needed to create 5 pipeline systems for transporting water in the Arabian Peninsula. These projects will ensure greater volumes of water for over 12 million people, helping to improve the quality of life for everyone living in this geographical area characterized by a hostile climate while at the same time supporting its economic growth.

2016 07 18 101814The 5 projects being supplied by Nidec ASI are part of SWCC’s (Saline Water Conversion Corporation - a Saudi Government Corporation responsible for the desalination of seawater and supplying fresh water to its citizens) ambitious growth program and will transport salt water to the desalination plants and then convoy the treated water along a network of pipelines to a number of Saudi cities. The pipeline network will take water to the cities of Arafat, Jeddah, Jubail, Rabigh, Riyadh, Al Shuqaiq and Taif.

Nidec ASI motors and drives will be installed along the extensive route connecting the coast to the treatment plants and from there to the various cities, making it possible to take fresh water to inhabitants, hospitals and all public and private facilities in the various regions concerned. Nidec ASI's solutions have also been designed with environmental sustainability in mind, in fact they contribute to energy savings for the entire system, minimizing the use of electricity and reducing the environmental impact thanks to a reduction in the use of non-recyclable raw materials.

Specifically, Nidec ASI is supplying 124 motors and 85 drives produced in its Italian plants in Monfalcone and Cinisello Balsamo.

We are particularly proud of these work orders: our motors and drives will help bring the precious commodity of water to over 12 million people who are currently struggling to have access to this life-giving resource. The pipeline systems will also have important benefits for the economic development of the areas concerned", said Dominique Llonch, CEO of Nidec ASI and Chairman of Nidec Industrial Solutions. "Operating in a country of huge economic ferment like Saudi Arabia, serving such an important client as SWCC, once again confirms the success of our approach based on offering solutions which are innovative, made-to-measure and above all designed to save energy and raw materials.”

For over 150 years, Nidec ASI has been a market leader thanks to its ability to innovate and offer technologies capable of meeting all the needs and requirements of ambitious projects throughout the world. The technical specifications of Nidec ASI solutions make it possible to adjust them to the most extreme design and climate conditions, without ever forgetting about environmental protection and always with the aim of contributing to creating an increasingly green and sustainable future.

Print

Growing digitalization makes the oil and gas industry more vulnerable to cyberattacks

The oil and gas industry is increasingly relying on digital technologies to transform itself in the 21st century. As increasing volumes of data are being stored on networked servers, there is a higher probability of this data getting targeted by hackers, says GlobalData, a leading data and analytics company.

GlobalData’s latest thematic report, ‘Cybersecurity in Oil & Gas (2020)’ highlights the importance of cybersecurity technologies in the industry, in order to protect oil and gas assets against internal as well as external threats.

The oil and gas industry is expanding the use of digital technologies to optimize daily activities. Widespread deployment of the IoT is generating huge volumes of data. Each node in a company’s network, whether a computer terminal, a cell phone, sensors, or a networked camera, can become an entry point for hackers.

oil gas platform genericRavindra Puranik, Oil and Gas Analyst at GlobalData, comments: “Hackers can exploit these nodes and gain access to a wealth of information, including business plans, project designs, supplier details, contracts, financing, and other critical information. Loss or theft of such data can prove financially and operationally detrimental for an oil and gas company.

“The frequency and sophistication in cyberattacks has increased over the years, as seen in the case of the Shamoon attack that has targeted Saudi Aramco on multiple instances. Hence, it is imperative that oil and gas companies adopt a proactive approach in handling cybersecurity. Broad scale coordination among industry players, government agencies, and technology vendors is essential to tackle such complex and persistent menace.”

GlobalData’s thematic research identifies BP, Chevron, ConocoPhillips, Eni, ExxonMobil, Gazprom, Royal Dutch Shell and Saudi Aramco, among the leaders in the cybersecurity theme in the oil and gas industry. It also highlights some of the cybersecurity technology providers for oil and gas industry, namely BlackBerry, Broadcom, Cisco Systems, Fortinet, IBM, Microsoft, Palo Alto Networks, and Verizon.

More recently, the COVID-19 pandemic has increased cyber risk significantly. Employees working on personal computers and using public networks are especially vulnerable to phishing and other types of cyberattacks. 

Puranik concludes: “The industry needs a clear strategy and then subsequent delivery to address these vulnerabilities and protect against data loss, denial of service, and other forms of disruption to operations.”

  • Quotes provided by Ravindra Puranik, Oil & Gas Analyst at GlobalData
  • Information based on GlobalData’s thematic report: ‘Cybersecurity in Oil & Gas (2020)
  • This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts

About GlobalData

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis, and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial and professional services sectors.