Saudi Aramco hastens digital technology innovation
Saudi Aramco is accelerating digital technology and innovation after net income fell 44 percent to $49 billion in 2020.
The oil giant said technology and innovation are key to delivering more energy with fewer emissions, and reported a company record of 683 US patents in 2020.
Aramco achieved an estimated upstream carbon intensity of 10.5 Kg of CO2 per barrel of oil equivalent in 2020 and described the conversion of hydrocarbons to hydrogen and then to ammonia, while capturing the CO2 created during the process, as a "promising area".
Aramco is exploring with Hyundai Heavy Industries Holdings, in a non-binding MoU, collaboration on research and development opportunities in blue hydrogen and ammonia. Utilization and application in targeted markets in South Korea are being studied although there is no intention for any CO2 transportation. In August, Aramco exported the world’s first shipment of high-grade blue ammonia to Japan for use in zero-carbon power generation.
Aramco President & CEO Amin H. Nasser, said it was an "exceptional performance during such testing times" and declared a dividend of $75 billion.
“As the enormous impact of COVID-19 was felt throughout the global economy, we intensified our strong emphasis on capital and operational efficiencies. At the same time, the accelerated deployment of digital technologies across the company significantly enhanced our performance and we continued to make progress on breakthrough low-carbon solutions.
“Looking ahead, our long-term strategy to optimize our oil and gas portfolio is on track and, as the macro environment improves, we are seeing a pick-up in demand in Asia and also positive signs elsewhere. We remain confident that we will emerge on the other side of this pandemic in a position of strength."
In January, Aramco and stc launched Dammam 7, billed as a new 'supercomputer' among the top 10 most powerful globally.
Developed at Dhahran Techno Valley in partnership with Solutions, a subsidiary of stc Group, and CRAY, a Hewlett Packard Enterprise subsidiary, Dammam 7 has 55.4 petaflops of peak computing power, allowing it to process and image the world’s largest geophysical datasets.
Last September, in-house engineers unveiled SWIM-R, a robot that is four times faster than divers working in shallow waters (pictured).
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."