Testing page for app

With so many buzzwords surrounding artificial intelligence and machine learning, understanding which can bring business value and which are best left in the laboratory to mature is difficult.

GTT has been contracted to provide the Hyundai Heavy Group companies with equipment for eight LNG carrier newbuilds. Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) will build the vessels, with each company set to build four vessels. Each vessel will be capable of transporting 174,000 m3 of LNG.

Layoffs have begun at Occidental Petroleum, which needs to slack costs after buying Anadarko, as well as Apache.

The approval clears the way for final investment decision on the offshore project, which includes a standalone FPSO expected to have a production capacity of 100,000 B/D. First oil is targeted for 2023.

The plan will extend production of the largest field on the Norwegian Continental Shelf to 2040, while also deferring plans to decommission the Statfjord A platform. Statfjord A was originally scheduled to be decommissioned in 2022.

Aker Solutions has signed a contract to provide subsea control systems for Phases 4 and 5 of Beach Energy’s Otway project offshore Victoria, Australia. The order includes 7 sets of Vectus subsea control modules (SCMs), which will be backward compatible to the existing topside MCS and EPU, along with associated stab plates and testing equipment.

The deal comes months after the jointly owned Petrogas NEO UK acquired several UK North Sea assets, including a $635-million purchase of Total's stakes in various fields last July. The 2-year deal with Petrofac is valued around $50 million.

The nonprofit group Oceans Beyond Piracy says the cost of maritime piracy in West Africa was more than $800 million in 2017.

Twenty safety and health leaders from various industries were asked to give their predictions on the trends they see most affecting occupational health and safety in 2020 and beyond, and several themes emerged.

Global OPEX is falling, and the UK has emerged as a cost-cutting powerhouse among global offshore regions feeling the squeeze of uncertain oil prices. In pursuit of lower unit prices, Rystad Energy says that operators and contractors have begun nurturing operational improvements.