Global Market Outlook 2014

23 January 2014 Aberdeen Breakfast Meeting

Chairman Chris Milner, Chairman, SUT Aberdeen Branch

Flyer

Offshore Overview – Macro Market Trends and Subsea Market Opportunities
Matthew Sharpe, Analyst, Infield Systems
In a presentation analysing the offshore oil and gas markets, Matthew Sharpe will explore how recent trends in energy supply and demand have impacted the offshore markets. The presentation will pull on Infield’s proprietary modelling system by providing offshore activity and Capex forecasts before focusing on subsea market trends and opportunities. Finally, the narrative will focus on the markets ability to deliver the forecasted level of activity, with particular emphasis on rig availability and subsea tree manufacturing capacity.

The Subsea Market -Update on the Capital Markets and the M & A Environment
Mike Beveridge, Managing Director, Simmons & Co
(For a copy of this presentation please contact [email protected])
In this presentation, Mike will give an update on the capital and financing markets, talking through some major themes which are driving offshore and subsea activity both in the North Sea and internationally.

Insight to Current Industry Technology Challenges and Trends
Dr Patrick O’Brien FREng, Chief Executive, The Industry Technology Facilitator (ITF)
In his presentation, Patrick will provide an insight to the subsea and related technology challenges faced by ITF member companies including operators and major service organisations, and look at the role of collaboration in the development and deployment of new technologies.
He will also seek to identify a technology development strategy for subsea that ensures it remains a key contributor to maximising hydrocarbon extraction from the UK North Sea, extending the life of the UK basin and maintaining the UK’s competitive edge in subsea within the international arena.
 

 

 

Subsea Resources: North Sea Collaboration
‘There’s no Plaice Like the Dogger Bank’

22 January 2014 Newcastle Evening Meeting

Chairman  Dr. Malcolm Storey, Director, WBP Ltd.

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Report

The world’s oceans are common to increasingly different industries and, as their uses multiply, so does the need for better understanding between these vested interests.
These lectures are about collaboration between the oil and fishing industries. In particular, they deal with how the traditional fishing industry and the newer oil and gas exploration and production industry are able to work together, in harmony, for the common good.

‘An Overview of North Sea Fishing’
Mike Montgomerie, Gear Technologist, Seafish
Mike Montgomerie is a former trawlerman who will talk about the high-technologies used to target the different species of fish and the kinds of information used to identify and avoid the location of subsea equipment. He will give an overview of risks of becoming fast on seabed hazards and address the design considerations of modern fishing gear and vessels and their applications. Mike is from Seafish which is an industry body set up to sustain a profitable future. for the British Seafood Industry.

Subsea Overtrawlable Structures
Ian Davidson, Principle Engineering Eastern Hemisphere, FMC Well Completions
FMC is a global corporation and Ian Davidson is the Principal Engineer responsible for well completions systems in the eastern hemisphere. His talk will focus on the ethos behind the design of overtrawlable structures in subsea engineering and how, in a spirit of overt collaboration, FMC has endeavoured to design, develop and apply their ‘fishing friendly structures’ to meet approval by the Scottish Fisherman’s Federation. Ian’s lecture will discuss; design, installation, loading and how risk analysis is used to mitigate snagging.
 

 

 

Inhibitor Dosage Rates and Corrosion –
A CFD Model Investigating Inhibitor Over-Dosing and Increased Corrosion Rates in Subsea Pipelines

16 January 2014 London Evening Meeting

Chairman Dr Bob Allwood, Chief Executive, SUT

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Report

Presentation

Speaker: Deng-Jr Peng, Senior Flow Assurance Engineer, INTECSEA

Deng-Jr Peng has more than 8 years industry working experience in Flow Assurance and Loss Prevention and Process Safety areas. As the current role of a Senior Flow Assurance Engineer in INTECSEA, Deng has published over 20 international conference papers and published journalarticles within his field of expertise, Deng holds a PhD in chemical engineering from Imperial College London

Injection of corrosion inhibitors is employed to decrease internal corrosion rates in subsea carbon steel pipelines. The corrosion inhibitor availability model is now well established, however, the real-time availability of inhibitors is affected by different factors not addressed by the model.

For instance, the morphology of corrosion product scales present would have either negative or positive effects on corrosion rates, but are not captured in the inhibitor availability model. In order to conclusively investigate this and other factors affecting inhibitor availability, the mechanistic details of the inner workings of inhibitors, especially with regards to three-phase flow subsea systems need to be well understood. The effects of the characteristic persistence of inhibitors in multiphase flow remain unclear. Although the impact of these knowledge gaps is widely perceived to be limited with respect to the inhibition of bottom of line corrosion, whilst being critical only for probable and effective inhibition of top of line corrosion, the reported ‘inhibited’ corrosion rates
of subsea pipelines tell a different story.

In addition, the mechanisms involved in inhibitor over-dosing leading to increased flow induced localised corrosion rates remain a mystery. It has been observed that at higher than ‘optimal’ inhibitor dosage rates, the CO2 corrosion rates of carbon steel lines are increased. The increased corrosion rate is commonly attributed to the interaction between incident local wall shear stresses (high droplets concentration, micro-turbulences, etc) and the characteristic inhomogeneous protective scales formed at high inhibitor concentrations.

This observation is contrary to the industry perception of inhibitor under-dosing and its effect on inhibitor availability being the only concern in terms of inhibitor dosage rates; and brings into sharp focus the necessity to control inhibitor dosage rates to avoid both under-dosing and overdosing

This paper therefore aims to investigate these phenomena using Computational Fluid Dynamic (CFD) simulations. Further development of a new technique suggested between inhibitor concentration and the inherent integrity of protective scales formed will be proposed in the study.
 

 

 

Global Offshore Prospects

13 February 2014 London Evening Meeting

Chairman Dr Bob Allwood, Chief Executive, SUT

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Speakers:
Timothy Madden, Analyst, Douglas-Westwood
Calum Shaw, Senior Analyst, Douglas-Westwood
Rod Westwood, Director, Douglas-Westwood

The past year has been exceptionally buoyant for most sectors in the energy business, with record levels of industry spending in offshore oil and gas and renewable energy.

Energy research and consulting group Douglas-Westwood continue their renowned “Global Offshore Prospects” series of presentations with an evening event hosted by the Society of Underwater Technology on February 13th 2014.

Rod Westwood, Calum Shaw and Tim Madden will present the firm’s outlook for the next five years and consider both the macroeconomic outlook and specific sector drivers for a variety of offshore energy business services and equipment lines. Analysis will be drawn from the firm’s published research and extensive proprietary in-house data, in addition to the insight and experience gained from the many consulting and transactions engagements completed throughout 2013. Specific sector focus will include offshore Capex & operations, offshore drilling, subsea production and associated services and technology.