Saudi Aramco completes construction on massive tie-in platform
Saudi Arabia’s national petroleum company has announced the completion of the largest offshore tie-in platform ever built in the country.
The construction of the Marham TP-9 Deck is part of Saudi Aramco’s Offshore Maintain Potential Program, which covers the fabrication and installation of four oil-producing platforms and their associated cables and pipelines.
The platform was fabricated at Dammam Port by the STAR yard (Saipem Taqa Al-Rushaid Fabricators Company Limited) and is the product of a joint venture between Saudi Enterprises and Saipem.
Senior Vice President of Technical Services, Ahmed A. Al-Saadi, said: “The completion of the massive 3,500 ton structure represents a major milestone for Saudi Aramco’s strategy to develop its offshore oil resources and to sustain the in-Kingdom manufacturing capabilities.
“This is the biggest offshore structure to have been fabricated to date in Saudi Arabia, and a major proof of the high level of technical competency and capability that in-Kingdom manufacturers have achieved.”
Though oil prices remain deeply depressed, Saudi Aramco has indicated that its drilling and IPO plans will remain unaffected. CEO Amir Nasser has said that the company will continue to invest in long-term oil projects and is considering whether or not it should also list shares on a foreign stock exchange, as well as Saudi Arabia’s.
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.