MArket analysis

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Akselos and COSMI Group sign MoU on Digital Twin technology

Swiss company Akselos and engineering Services provider COSMI Group have signed a three-year memorandum of understanding (MoU).

The latest MoU aims to bring Akselos’ breakthrough ‘Digital Twin’ technology to the Italian market.

Akselos’ Digital Twin technology is being used in offshore industries to enhance safety, reduce maintenance and operating costs. It also supports asset life extension.

Recently, Akselos deployed a structural digital twin for Shell Nigeria Exploration and Production’s (SNEPCo’s) Bonga Main floating production storage and offloading (FPSO).

COSMI CEO Giorgio Zuffa said: “The energy transition is driving a digital world where operators will use innovative tools to monitor the structural performance of assets in real time, providing information that will allow maintenance teams to optimize processes and resources.

“The synergy with Akselos will allow us to strengthen our offering across all our operational management and engineering services.

“The repurposing of existing infrastructure into less polluting or better performing plants, will require a deep evaluation of structural integrity to extend life safely and efficiently.”

Akselos’ Digital Twins will be combined with COSMI’s engineering and asset management capabilities to create a ‘unique’ offering to customers of all COSMI’s core industries.

Well-Safe purchases harsh-environment jackup from Seadrill

Decommissioning specialist Well-Safe Solutions has acquired the harsh-environment jackup West Epsilon from deepwater drilling contractor Seadrill.

Well-Safe did not disclose the value of the acquisition.

Kosmos Energy agrees to sell exploration assets to Shell for $200m

Kosmos Energy has signed an agreement to sell a package of offshore exploration interests to Royal Dutch Shell subsidiary B.V. Dordtsche Petroleum Maatschappij.

Shell will acquire the company’s blocks offshore São Tomé & Príncipe, Suriname, Namibia, and South Africa.

Cairn Energy to exit Senegal oil discoveries with sale to Woodside

Cairn has entered into a conditional agreement to sell its entire participating interest in the Senegalese stake, which includes: Rufisque Offshore, Sangomar Offshore, and Sangomar Deep Offshore.

The deal with Woodside Energy will be based on the same terms and conditions as the sale and purchase agreement entered into with Russian operator Lukoil on 24 July 2020. While Cairn was previously planning to sell its 40% stake in the Senegalese joint venture to Lukoil in a deal worth up to $400m, on 17 August 2020, Cairn announced that Woodside had exercised its right to pre-empt the transaction on the same terms and conditions.

Tendeka and TGT to deploy a solution for sand control failure in wells

Independent global completions service company Tendeka has partnered with diagnostic systems specialist TGT to combat the expensive consequences of sand control failure in wells.

The ‘Find Fix Confirm’ sand control collaboration will see that the diagnostic specialist’s Sand Flow product is used to exactly identify the locations of sand ingress within the wellbore.

Blackstone to reportedly sell 40% stake in Cheniere limited partnership to Brookfield

Asset management firm Blackstone Group reportedly said it would sell 40% of its stake in Cheniere Energy Partners to Brookfield Infrastructure and its own affiliated company.

Cheniere Energy Partners is a limited partnership formed by US-based liquefied natural gas (LNG) producer Cheniere Energy.