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Marine Resources

2018:  FEB

April 2017 Issue

AXYS Part of French
Offshore Wind Development

AXYS Technologies Inc. is participating in French EolMed wind development initiatives in the zone between Port-La Nouvelle and Gruissan. An AXYS WatchKeeper buoy will be deployed by French company Créocéan on behalf of QUADRAN at the location over the next year to gather comprehensive metocean data.

This marks the first stage of floating offshore wind development in that area. Essential preliminary environmental data will be gathered to support future design and financing decisions.

FairfieldNodal Expands
3D Seismic Program

FairfieldNodal continues to expand its ongoing 3D seismic program in the Delaware Basin. The Red Tank multiclient survey began February 15 in the heart of the New Mexico portion of the Delaware Basin. This high-resolution 3D survey adds more than 300 sq. mi. to the company’s regional contiguous database of 3,000 sq. mi.

Acquisition parameters target the Bone Spring through Wolfcamp formations, providing operators with crucial information they need to make the right decisions in these highly productive zones.

FairfieldNodal will process the data using a variety of the latest techniques for noise removal, signal conditioning, azimuthal analysis and imaging.

Data from the industry-funded survey will be available end of 2017.

Survey Shows Severe
Big Data Skills Shortage

In a new survey released by Sea Asia 2017, maritime leaders have revealed that a severe skills shortage is preventing the industry from effectively harnessing big data and ultimately negating performance and cost-saving potential.

According to the survey, 63 percent of the leaders believe the lack of access to big data is holding back their ability to utilize it, with only 12 percent saying they are currently compiling, analyzing and storing big data. The leaders also identified that the key areas of potential benefits from the use of big data are real-time information on vessel performance and cost savings for their companies.

QARTOD Project Plan
Update Published

The Quality Control/Quality Assurance of Real-Time Oceanographic Data (QARTOD) process was documented and published by the U.S. Integrated Ocean Observing System (IOOS) in the QARTOD Project Plan Update in February 2017. The 2017 document describes how the original project plan from 2012 was implemented. A large part of this implementation includes the 10 manuals that were written during the first five years of the QARTOD Project to support the original idea of establishing procedures for data quality control of variables, such as water levels, currents and dissolved oxygen.

The Project Plan Update looks to future implementation by outlining plans for developing phytoplankton and passive acoustics manuals, as well as an update of several existing manuals. Outreach and implementation of specific data quality control projects are also discussed.

The U.S. IOOS QARTOD Project Plan Update brings together national and international efforts to share knowledge about data quality.

SPE Aberdeen Awards
£20,000 to Students

The Society of Petroleum Engineers (SPE) Aberdeen Section has awarded a total of £20,000 to the winning students in its 2017 student bursaries program. Almost 100 students applied for awards, with 20 winners selected to receive grants. Five bursaries of £2,500 and 15 bursaries of £500 were awarded to students from the University of Aberdeen, Robert Gordon University, University of Dundee and Heriot-Watt University.

The bursaries were awarded to students currently undertaking oil and gas-related degrees, from undergraduate to Ph.D. Each applicant was judged on the quality of academic work, intent to embark upon a career in the oil and gas industry and active involvement with SPE.

Possible Global Oil
Undersupply after 2020

Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest five-year oil market forecast from the International Energy Agency (IEA). The Oil 2017 report shows the demand and supply trends point to a tight global oil market, with spare production capacity in 2022 falling to a 14-year low.

In the next few years, oil supply is growing in the U.S., Canada and Brazil, but this growth could stall by 2020 if the record two-year investment slump of 2015 and 2016 is not reversed. Oil demand will rise in the next five years, passing the symbolic 100 mb/d threshold in 2019 and reaching about 104 mb/d by 2022. Developing countries account for all of the growth, and Asia dominates, with about seven out of every 10 extra barrels consumed globally. India’s oil demand growth will outpace China by then. The IEA estimates electric vehicles will displace only limited amounts of transportation fuel by 2022. The largest contribution to new supplies will come from the U.S.

LNG Key to Fulfilling
Japan Energy Demand

One of Japan’s largest companies, Mitsui & Co., has underlined the importance of a stable LNG supply to fulfil future energy demand in Japan. LNG and gas will continue to play an important role long term in a low-carbon global economy. Renewable energy may grow at a steady 2 percent per year, but fossil fuels, especially LNG, will continue to be a significant source for meeting energy demand even in 2040. As the world’s largest importer of LNG, importing nearly one-third of all global supplies, Japan relies on stable and trustworthy supplies of LNG.

Following liberalization of its electricity market, which has led to new competition among electric utilities, Japan’s retail gas market is also planned to be liberalized in 2017, which makes this year one of the most pivotal in the country’s energy market.

2018:  FEB

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