Stolt Offshore wins US$112m Angolan contract

Stolt Offshore wins US$112m Angolan contract

Filtration Industry Analyst MARKET PROSPECTS Filtration Company Index Ahlstrom 1 Alfa Laval 15 Altair Filter Technology 10 Aqua Care Systems 1 Ascen...

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Filtration Industry Analyst

MARKET PROSPECTS

Filtration Company Index Ahlstrom 1 Alfa Laval 15 Altair Filter Technology 10 Aqua Care Systems 1 Ascension Industries 1 Baker Hughes 15 BHA Group Holdings 15 Calgon Carbon 10,12 Camfil Farr 5 Ceco Environmental 15 Charles Thompson 16 Clarcor 6,15 Crown Andersen 15 Cummins 15 Cuno 15 Domnick Hunter 1,11,15 Donaldson 14,15 Dorr-Oliver Eimco 10 Emergency Filtration Products 13 Envirogen 15 Esco Technologies 6,11 Fedders 12,15 FiberMark 11,14 Filtration & Separation Dynamics 1 Flanders 15 GL&V 7,15 GL&V Sweden 10 H2O Innovation 10,15 Hydac 16 Hydranautics 10,11 Hyflux 10,15,16 Ionics 15 ITT Industries 12 Krauss-Maffei Process Technology 12,16 Larox 7 Locker Filtration 6 McLeod Russel 15 Met-Pro 15 Metso Paper 13 MFRI 15 mg Technologies 11 Millipore 15 Mott 12 MPW Water Management Group 13 Mykrolis 12,15 NGK Insulators 10 Ondeo Degrémont 11 Pall 8,10,15 Paques 13 Parker Hannifin 13,15 Peerless Mfg 8,15 Pentair 15 Polymer Group 12 Porvair 15 Sartorius 14,15 Schroeder Industries 16 USFilter 10,11 Veolia Environnement 13 Weir Techna 11 Whatman 11,15 Zenon Environmental 11,12,15,16

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June 2003

OIL & GAS NON-OPEC PRODUCTION ON THE INCREASE World oil supply is becoming more diverse and world oil production capacity comfortably exceeds world oil demand. As a result, producers were able to meet the needs of oil consumers during the Iraq war and during unplanned supply disruptions in Venezuela and Nigeria. “This is good news for those concerned about energy security, but it should not lead to complacency,” warned BP chief economist Peter Davies at the launch of the BP Statistical Review of World Energy 2003. The BP statistics show that OPEC cut its average daily output by 1.87 million barrels a day in 2002 in response to weak global oil demand while there was a 1.45 million barrela-day increase in non-OPEC production. Global natural gas production rose 1.4% to 2527 billion cubic metres in 2002. North America was the only region to see a production decline, falling 1.8% to 766 billion cubic metres. Coal was the fastest growing fuel in 2002 with coal consumption increasing 6.9% reflecting a 27.9% extraordinary increase in China. Excluding China, world consumption increased just 0.6%. Consumption of nuclear power increased 1.5%, with most of the increase coming in Asia. World consumption of hydroelectric power increased 1.3% from 2001 but was still less than in 2000. Commercial (non-hydro) renewable energies are growing rapidly, but their contribution to total world electricity generation remains small. The BP Statistical Review of World Energy 2003 can be downloaded at www.bp.com/ centres/energy.

ABB BUILDS ON LONG-TERM NORSK HYDRO RELATIONSHIP ABB has won a US$160 million order for maintenance and modification work on Norsk Hydro’s oil installations on the Norwegian continental shelf in the North Sea. The three-year contract is for maintenance and modification on Oseberg Field Centre, Oseberg South and Njord, as well as the onshore terminal at Sture in western Norway. The contract has options for three two-year extensions. ABB has won a series of orders from Norsk Hydro in recent years, including an US$80 million contract to provide two modules to increase oil production and start the export of gas from the Visund oil platform in the North Sea.

STOLT OFFSHORE WINS US$112M ANGOLAN CONTRACT Daewoo Shipbuilding and Marine Engineering Co (DSME) has awarded Stolt Offshore SA a contract for work on the Benguela and Belize offshore field development in Block 14 in Angola, which is operated by Cabinda Gulf Oil Co, ChevronTexaco’s affiliate in Angola. This US$112 million EPIC contract is for the installation of 100 km of pipelines to connect the new Benguela and Belize compliant tower to the Kuito FPSO and the South Nemba and KWIP platforms.

SHELL SELECTS RAY MCDERMOTT Shell has awarded two contracts for the installation of pipe-in-pipe subsea flowlines for the Habanero and the Llano projects to J Ray McDermott.

Both flowlines will tie back to Shell’s Auger tension leg platform located in 2860 feet of water in the Gulf of Mexico. The Habanero project will include the installation of two 10 in.×6 in. pipe-in-pipe flowlines connecting two subsea wells in 2000 feet of water to Auger. The Llano project will include the installation of two 12 in.×8 in. pipe-in-pipe flowlines connecting two subsea wells in 2700 feet of water to Auger, and one intra-field 12 in.×8 in. pipe-in-pipe flowline between the two subsea wells. The 44 miles of flowlines and associated steel catenary risers for Habanero and Llano are scheduled for installation later this year.

POWER GENERATION BHEL SECURES LARGE INDIAN ORDER Bharat Heavy Electricals Ltd has secured a Rs7720 million order to set up a captive power plant on a turnkey basis for Indian Oil Corp. The 120 MW integrated captive co-generation power plant is part of its refinery expansion and petrochemical project at Panipat, and will be commissioned in a tight 24month schedule. Engineers India Ltd is the engineering and project management consultant. BHEL will design, engineer, manufacture, supply, install, erect, test and commission the power plant on a total turnkey basis. Major equipment to be supplied includes four 30 MW gas turbine generators and heat recovery steam generators as well as two utility boilers, associated auxiliaries and the balance of plant equipment. This is the largestvalue single order ever secured by BHEL’s Industry segment.