Rosneft and BP forge new alliance to market Russian gas in Europe
Rosneft and BP have put pen to paper on a deal to cooperate on the sale and purchase of natural gas in Europe.
Signed at the ongoing St Petersburg International Economic Forum, the deal will see the companies coordinate activities around the implementation of projects in Russia and across the region, focussing on gas exploration and production, LNG production, supply and marketing.
The marketing deal in particular will see Rosneft and BP subsidiary BP Gas Marketing Limited enter into a long-term agreement to deliver increased supplies of Rosneft gas into European markets, beginning in 2019.
"Rosneft already is the largest independent gas producer in Russia and intends to further increase production levels in the coming years," Rosneft CEO Igor Sechin said.
"Cooperation with BP will provide Rosneft with both a new efficient gas monetization channel and the conditions required for the development of a new resource base, including hard to recover gas reserves."
"BP is pleased to expand its ongoing relationship with Rosneft through this agreement," President of BP Russia David Campbell added.
"Shifting to gas is one of the pillars of BP's strategy. It is important in order to meet the increasing demand for cleaner energy. Gas is a growing proportion of BP's portfolio and by the middle of the next decade we expect around 60% of our production to be gas, compared with around 50% today."
Both companies add, however, that support from the Russian state in ensuring an effective gas supply mechanism will be critical to their success.
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."