E&P Highlights: March 17, 2025

From a new contract between ABB and Dow in Canada to the retirement of a Williams executive, below is a compilation of the latest headlines in the E&P space.

Activity

Shell Completes Sale of Nigeria Development Company

Shell has completed the sale of Shell Petroleum Development Co. of Nigeria Ltd.(SPDC) to Renaissance.

The sale was announced in January 2024. At that time, Shell said it was selling its Nigerian onshore subsidiary for $1.3 billion with potentially more than $1 billion in additional payments.

The divestment of SPDC is part of Shell’s plan to simplify its presence in Nigeria through an exit of onshore oil production in the Niger Delta and a focus on its deepwater and integrated gas positions.

Renaissance now controls SPDC’s 30% stake in the SPDC joint venture (JV), an unincorporated JV with the government-owned Nigerian National Petroleum Corp. (55%), Total Exploration and Production Nigeria (10%) and Agip Energy and Natural Resources Nigeria (5%).

Liza Unity Becomes First FPSO to Receive SUSTAIN-2 Notation

The Liza Unity has become the first FPSO vessel in the world to receive the SUSTAIN-2 notation from ABS.

The notation is the next level in the vessel sustainability program developed by ABS to help fleets meet the environmental and human elements requirements contained in the strategic Sustainable Development Goals (SDGs) from the United Nations.

Liza Unity was the first FPSO to receive SUSTAIN-1 in 2021, recognizing sustainability-related aspects like pollution control and waste management. SUSTAIN-2 recognizes additional attributes such as the usage of low-carbon fuels and human-centered design.

The Liza Unity FPSO is owned by ExxonMobil Guyana Ltd. and operated by SBM Offshore. It was the second FPSO built for Exxon Mobil’s Stabroek Block development offshore Guyana. The vessel was also the first FPSO delivered under SBM Offshore’s Fast4Ward program and has an installed production capacity of about 220,000 bbl/d.

Contracts and company news

ABB to Support Automation at Dow Plant in Alberta

ABB has signed a leveraged procurement agreement to support automation for Dow’s Path2Zero project under construction at Fort Saskatchewan in Alberta, Canada. The project will create the world’s first net-zero Scope 1 and Scope 2 greenhouse gas emissions ethylene and derivatives complex.

The project will include a brownfield expansion and retrofit of Dow’s manufacturing site 330 km north of Calgary. When complete, the project aims to decarbonize approximately 20% of Dow’s global ethylene capacity.

Dow has designed the site to recover and convert its cracker off-gas to hydrogen, which will be used as a clean fuel in the site’s furnaces. In addition, CO₂ emissions will be captured and stored permanently, reducing existing emissions and abating most emissions from the addition of the site’s new capacity.

ABB will explore expanding the existing ABB Ability System 800xA Distributed Control System by adding approximately 25,000 new select input and output (I/O) connectors and conventional I/Os. ABB will also supply all the hardware, design and engineering of cabinets.

Williams Chief Operating Officer to Retire

Williams Cos. announced that Micheal Dunn, executive vice president and COO, will retire, effective May 2.

With Dunn as COO, Williams completed several large-scale infrastructure projects, including Atlantic Sunrise and Regional Energy Access, as well as multiple expansion projects along Transco, Northwest Pipeline and in the deepwater Gulf, in addition to integrating multiple acquisitions.

Dunn began his career with Williams in 1988. He spent 14 years with the company in its gas pipeline business before transitioning to leadership roles at Kern River Gas Transmission Co. and PacifiCorp Energy. Before rejoining Williams in 2017, Dunn served as president of Questar Pipeline and executive vice president of Questar Corp.

Salunda Launches Wireless Latch Monitoring for Drilling Rig Safety

Salunda has launched the Latch Hawk 2 fingerboard latch monitoring device, helping prevent dropped objects and improving safety during pipe handling on offshore drilling rigs.

Latch Hawk 2 provides a direct measurement of fingerboard latch status in real-time to prevent fingerboard dropped object incidents, eliminating the need for a spotter or camera.

Second-generation improvements to the patented wireless monitoring device include new sensor technology with better shock and vibration resistance, a more robust design, cloud-based digital condition monitoring and greater than seven-year battery life, which extends on the previous iteration by over two years.

Hendrik Veder Group, Dutch Steel Fabricators Merge

After several years of collaboration, Hendrik Veder Group and Dutch Steel Fabricators (DSF) have merged, creating a company with revenue exceeding 100 million euros in the offshore, maritime and commercial construction sectors.

The company combines solutions in lifting and rigging as well as steel construction services.

The Netherlands-based Hendrik Veder Group provides steel wire and fiber rope products in addition to services such as spooling and reeving, load testing, inspections and certifications. DSF comprises a group of Dutch steel construction companies.

MODS wins Global Offshore Asset Management

MODS, a provider of intelligent industrial asset management software, has secured a two-year contract with one of the world’s largest industry-leading offshore engineering consultancies.

The client will implement key modules from the MODS Connect software suite to enhance project efficiency, transparency and digitalization across several of its energy clients’ offshore operations worldwide.

MODS Connect is a cloud-based platform that digitalizes, visualizes and automates asset lifecycle management.