Global oil experts to discuss strategies in Oman
More than 60 international industry experts in oil, gas, and petrochemicals are scheduled to join key representatives from the Ministry of Oil and Gas, Petroleum Development Oman, at the third annual Oman EPC Projects Summit in March.
The third annual summit, held March 9-12 at Crowne Plaza Hotel Muscat, will explore four key themes which include: Pricing of an EPC project, challenges faced by both EPC contractors and project owners during project execution, analyzing best practices in contracting and procurement strategies, In-Country Value and local community contractors and risk management in EPC projects.
The conference includes presentations from international EPC contractors such as Samsung Heavy Industries, China HuanQiu Contracting & Engineering (HQCEC) - subsidiary of China National Petroleum Corp. (CNPC), Maire Tecnimont, CH2M HILL, Saipem, Reliance Engineering Group, SNC Lavalin Arabia, Kentz Engineering International, Technip, Foster Wheeler, Galfar Engineering & Contracting, Cylingas Company LLC - a subsidiary of Emirates National Oil Co. Ltd. (ENOC) and more.
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Regional oil and gas companies such as Saudi Aramco Total Refining and Petrochemical Co. (SATORP), Kuwait Oil Co., Abu Dhabi Co. for Onshore Oil Operations (ADCO), LUKOIL and RasGas Co. will present about their perspectives about EPC contracts and their experience in working on mega EPC projects and with other stakeholders.
“The key challenges in executing critical and major projects are: project risks, technological problems and material delivery and guarantee of sources,” said Mohamed Daoud, manager projects quality, engineering and major projects at ADCO. “Developing a project quality plan and reviewing the project matrix is essential in any EPC project.”
The pre and post-conference workshops, facilitated by Project Management Institute (PMI) and Kentz Engineering International will give delegates the chance to examine day to day challenges they face during the EPC project execution stage. Topics include: Relationship management between multiple parties in an EPC project, estimation and cost control fundamentals for oil and gas EPC projects, optimizing the tender process in your organization and In-Country Value strategy development and realizing its effects on bidding and contracting.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.