May 7

PNG govt, ExxonMobil fail to reach consensus over P’nyang gas project

first_img PNG govt stops negotiations over the P’nyang gas project with ExxonMobil. (Credit: Pixabay/aymane jdidi) The Papua New Guinea (PNG) government said that it has stopped negotiations with US oil and gas firm ExxonMobil over the proposed P’nyang gas project in the country.The gas project calls for the development of the P’nyang gas field to help in the expansion of the ExxonMobil-operated $19bn PNG LNG project, which has been in production since 2014.However, the PNG government and ExxonMobil could not reach a consensus on the terms of the P’nyang gas agreement.PNG Prime Minister James Marape said that the US company was not willing to agree to “reasonable terms” with the government’s negotiators in supporting the development of the P’nyang natural gas field.Marape added that ExxonMobil proposed an ‘out-of-the-money’ deal for PNG and was not intending to make concessions in contrast to the government’s willingness. The government said that with the negotiations over the P’nyang gas project stopped, it can focus on developments that are already in the pipeline.PNG Prime Minister statement on the P’nyang gas projectJames Marape said: “The terms we proposed to Exxon Mobil were fair, ensuring PNG benefits from the project while the international oil companies made decent returns. Our proposals were rejected as these companies tried to extract even more profit for themselves.”The failed talks have now put doubts on the prospects of a $13bn plan of ExxonMobil, Total, and other partners in the Papua LNG project of doubling liquefied natural gas (LNG) exports in PNG by 2024, reported Reuters.In April 2019, Total and its partners ExxonMobil and Oil Search signed a gas agreement with the PNG government which defined the fiscal framework for the Papua LNG Project.The PNG government is reportedly seeking far better terms for the P’nyang gas project compared to the agreement it signed with Total for the Papua LNG project.Discussions on the P’nyang project were earlier put on hold in 2019 with the PNG government looking to revise Total’s agreement for the Papua LNG project. In September 2019, the Papua LNG project deal was endorsed by the government following certain concessions from Total.ExxonMobil’s partners in the proposed P’nyang gas project are Oil Search, Santos, JX Nippon, and Kumul Petroleum and Mineral Resources Development (MRDC).Oil Search stated: “It is unfortunate that, at this time, the stakeholders in P’nyang cannot agree on the appropriate balance of value and benefits for a Gas Agreement to be concluded.“Under the terms proposed by the State, the joint venture partners were unable to obtain a return on their investment that made the project investable and bankable. For Oil Search, the project returns under the State’s proposed terms were approximately the same as our cost of capital, on an unrisked basis.”The company said that it will continue talks with the PNG government on the P’nyang gas field project. The project calls for the development of the P’nyang gas field to help in the expansion of the ExxonMobil-operated $19bn PNG LNG projectlast_img read more

May 7

Jan De Nul acquires Ocean Yield’s multipurpose subsea cable- and flex-lay vessel connector

first_img Jan De Nul acquires Ocean Yield’s multipurpose subsea cable- and flex-lay vessel connector. (Credit: Christopher Petersen/Jan De Nul Group.) Jan De Nul Group has signed an agreement for the purchase of the Offshore Construction and Cable-Lay Vessel Connector from Ocean Yield ASA. This marks a further investment in the offshore installation capacities of the Luxembourg based maritime contractor. The vessel will be officially transferred during the fourth quarter of 2020.With a focus on delivering the next generation offshore energy projects, Jan De Nul Group invests strategically in its offshore installation fleet. With the acquisition of the cable-lay vessel Connector, Jan De Nul Group further specialises in this offshore energy market as part of a running investment programme following the order in 2019 of the new-build Offshore Jack-Up Installation Vessel Voltaire and Floating Crane Installation Vessel Les Alizés.Philippe Hutse, Director Offshore Division at Jan De Nul Group: “The Connector has a very good reputation in the sector and is known as one of the world’s top tier subsea installation and construction vessels. She’s capable of operating in ultra-deep water up to 3,000 metres deep. Through the market consolidation involving this new investment, we now own and operate the largest fleet of dedicated cable-lay vessels. The Connector will further strengthen the Jan De Nul fleet for the future of offshore energy production.”Andreas Reklev, SVP Investments of Ocean Yield ASA: “The Connector was operating on a long-term bareboat charter until February 2017. In anticipation of a market recovery, Ocean Yield has for the past years traded the vessel in the short-term market. Through this position we have realized that in fact an industrial setup is required to operate the vessel efficiently in the cable-lay market whereby total solutions can be offered including dedicated engineering and operations teams. As such, we believe Jan De Nul will be well placed to efficiently operate the vessel which we see leaving in an excellent condition after having just completed its 10 year dry docking and class renewal surveys.”Wouter Vermeersch, Manager Offshore Cables at Jan De Nul Group: “The Connector makes a perfect combination with our Cable-Lay Vessel Isaac Newton. Both vessels are interchangeable with similar large carrying capacities thanks to similar dual turntable systems, while at the same time they each have their own specific characteristics that make them complementary. Our third Cable-Lay Vessel Willem de Vlamingh completes our trio with its unique all-round capabilities including operating in very shallow waters.”Thanks to these investments, Jan De Nul Group operates a very modern and balanced offshore fleet now comprising three offshore jack-up installation vessels, three floating crane installation vessels, three cable-lay vessels, five rock installation vessels and two multipurpose vessels.The Connector’s specificationsThe Connector, built in 2011, is a DP3 Ultra Deepwater Multipurpose Subsea Cable- and Flex-Lay Construction Vessel. The vessel has a proven track record of installing power cables and umbilicals using its dual turntables with a combined total pay-load capacity of 9,000 tonnes, as well as risers using its two heave-compensated 400 mt and 100 mt offshore cranes. The Connector is also fitted with two built-in WROV’s which can work in water depths of up to 4,000 meters.The Connector has superior manoeuvrability and a high transit speed for worldwide operations. Thanks to her excellent station keeping and stability capabilities, she can operate in the most harsh environments.Finally, the vessel has a very large deck area and crane coverage, turning it into the ideal platform to perform cable repairs. Source: Company Press Release Jan De Nul Group agreed to acquire the Offshore Construction and Cable-Lay Vessel Connectorlast_img read more

May 7

Recruitment firm to double in size

first_imgDeverell Smith, the specialist property recruitment consultancy, has announced plans to double in size over the next 12 months in response to soaring demand.From expansions and new start-ups to franchise roll-outs, the recent increase in housing market activity has led to a rise in the number of agencies looking to hire new members of staff to help deal with new business, and Deverell Smith has responded by announcing plans to recruit up to 70 new members of staff.Andrew Deverell-Smith (left), CEO, commented, “The market potential in property for recruitment is huge, we have expanded to provide recruitment services within every sector of the industry, and in some sectors, although we are market leaders, we really are still only scratching the surface.“By attracting the best talent in recruitment and knowledgeable property professionals to our company we plan to become the UK’s driving force in property recruitment.”Chris Long (right), Talent Development Director for Deverell Smith, has been tasked with recruiting and developing staff for the firm.Reflecting on the London-based company’s recruitment strategy, he said that it was important to not only attract but retain the best talent.He said, “Over the past twelve months we have carried out extensive research and invested heavily in our employment offering. We have worked hard to shape our culture to become a team based working environment where our employees not only want to come to work every day but are able to reach their full potential.“Maintaining a balanced work life balance was identified as the key factor for our employees’ wellbeing and happiness. In reaction to this we have restructured our remuneration and benefits package to include the most competitive commission offering in the industry, an extra four days holiday a year and contributions towards travel, leisure and childcare.”To help attract more talent, from a range of employment backgrounds, Deverell Smith has redefined its training programme, introducing a four week property recruitment training academy specifically designed for those making the transition into the sector.hiring staff jobs new staff recruitment firm Deverell Smith December 11, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Recruitment firm to double in size previous nextAgencies & PeopleRecruitment firm to double in sizeThe specialist property recruitment consultancy, Deverell Smith, has announced plans to recruit 70 new members of staff.The Negotiator11th December 20150522 Viewslast_img read more

May 7

Housing ministry reveals plans for New Homes ‘watchdog’

first_imgHome » News » Land & New Homes » Housing ministry reveals plans for New Homes ‘watchdog’ previous nextLand & New HomesHousing ministry reveals plans for New Homes ‘watchdog’A new ombudsman for sector is one of several new government measures including a ban on combustible cladding on high-rise apartment towers and more planning reforms.Nigel Lewis2nd October 201801,871 Views The government has announced more property reforms designed to protect those buying and living in new-build housing.This includes a new ombudsman to fight for the rights of new-build buyers and banning the construction of high-rise buildings that contain apartments above 18 metres.Complaints about new builds are to be handled by the New Homes Ombudsman who the Department of Housing, Communities and Local Government (MHCLG) describes as a ‘watchdog that will champion homebuyers, protect their interests and hold developers to account’.All new homes developers will have to register with this ombudsman once it has been set up, although a consultation with consumers and the industry and then legislation will be needed first.“We have always agreed that  should be covered by an Ombudsman, as consumers have no idea that when they buy a new home directly from a developer they will have no access to a redress scheme,” says Property Ombudsman Katrine Sporle (left).“This announcement will mean the housing market becomes a fairer place for all involved.”Housing reformsThe new ombudsman is part of a package of reforms announced by the government yesterday including significant changes to the planning process to enable more homes to be built.This including allowing home owners to extend their homes upwards more easily. Also, MHCLG is to issue clearer guidance about releasing land for New Towns and allowing local authorities to dispose of surplus building plots more easily.Housing secretary James Brokenshire also revealed improvements to the safety of high-rise apartment blocks, and the banning of towers being built using combustible cladding for residential or hospital use that are more than 18 metres tall.James Brokenshire department of housing communities and local government dhclg October 2, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

May 7

Plan for a new generation of new millennial towns proposed

first_imgTo address the shortage of homes in and around London, says the report, a new government Department for Growth should be created and work with the Mayor of London and partner directly with developers to build 15 new millennial towns – each with 30,000 homes, along major transparent routes out of London, in the capital’s commuter belt.The new towns should rekindle the “pioneering spirit” of post-war planning, that created new towns such as Crawley, Bracknell and Milton Keynes.Each new millennial town built should meet public demands for more beautiful housing development, increase people’s access to green space while improving its quality and maintaining its level of planning protection; and, provide millennials discounted home ownership.The Lord Wolfson of Aspley Guise, Chief Executive of Next and founder of the Wolfson Prize, said, “Much greater ambition is needed by all levels of government in dealing with the undersupply of homes in London and the South East – and this Policy Exchange report provides a plan for doing that. It builds on the vision and principles the Wolfson Economics Prize promoted in 2014 and outlines a strategy that can be supported by central government and the Mayor of London. Political leaders who want to win the support of young millennial renters should read this report and act on it.”The report was co-authored by Richard Blakeway, ex-deputy mayor for housing under Boris Johnson – Richard says that London’s current plans to boost housing supply, including Mayor of London, Sadiq Khan’s London Plan will “fall short”.This report is a must-read for all London agents – and those operating around the Capital!Download the report: https://policyexchange.org.uk/publication/tomorrows-places/London’s housing supply problem London housing Sheila Manchester shortage of London homes Tomorrow’s Places report March 20, 2019The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Housing Market » Plan for a new generation of new millennial towns proposed previous nextHousing MarketPlan for a new generation of new millennial towns proposed’Tomorrow’s Places’ report calls for a ‘Department for Growth’ to be created to work with the Mayor of London and partner directly with developers.Sheila Manchester20th March 20190888 Viewslast_img read more

May 4

Kockums Performs General Overhaul of Swedish Navy Support Vessel

first_imgKockums performs a general overhaul of HMS TrossöHMS Trossö is a support vessel of the Swedish Navy and the general overhaul is the largest overhaul performed on a marine vessel. It means that Kockums will review the whole ship and replace worn parts – from single screws to electrical systems. The overhaul also includes a few minor modifications.The overhaul begins in April 2011 and will be ready by the end of August the same year.About KockumsKockums stands for leading-edge, world-class naval technology – both above and below the surface. We design, build and maintain naval surface vessels and submarines that incorporate the most advanced stealth technology.Other successful products include the Stirling Air Independent Propulsion (AIP) system, the Kockums Submarine Rescue System and mine clearance systems.Operations are based in Sweden in Malmö, at Muskö and in Karlskrona. Kockums is part of ThyssenKrupp Marine Systems.[mappress]Source: Kockums, April 14, 2011; View post tag: vessel Industry news View post tag: Navy Share this article View post tag: Kockums View post tag: Support View post tag: Naval April 14, 2011center_img View post tag: Overhaul View post tag: Performs Kockums Performs General Overhaul of Swedish Navy Support Vessel View post tag: General View post tag: Swedish View post tag: News by topic Back to overview,Home naval-today Kockums Performs General Overhaul of Swedish Navy Support Vessel last_img read more

May 4

India to Launch First Indigenous Aircraft Carrier in December

first_imgBack to overview,Home naval-today India to Launch First Indigenous Aircraft Carrier in December View post tag: Naval India to Launch First Indigenous Aircraft Carrier in December View post tag: Carrier View post tag: Navy View post tag: launch View post tag: Indigenous View post tag: December View post tag: Indiacenter_img August 3, 2011 View post tag: first View post tag: Aircraft Equipment & technology View post tag: News by topic The construction of India’s first indigenous aircraft carrier (IAC) at Cochin is expected to be completed in December this year, after which…(zeenews)[mappress]Source: zeenews, August 3, 2011; Share this articlelast_img read more

May 4

JSC Severnaya Verf Shipyard to Deliver Corvette Soobrazitelny to Russian Defense Ministry on Oct 14

first_img View post tag: to View post tag: Ministry Industry news View post tag: Oct. October 12, 2011 View post tag: $14 JSC Severnaya Verf Shipyard to Deliver Corvette Soobrazitelny to Russian Defense Ministry on Oct 14 View post tag: Defense View post tag: Corvette View post tag: Soobrazitelny JSC Severnaya Verf shipyard will deliver corvette Soobrazitelny to Russian Defense Ministry on Oct 14, reported the shipyard’s press service.Being the first serial ship of Project 20380, corvette Soobrazitelny has vital differences from the lead ship, corvette Stereguschiy commissioned in 2007.Over 55 development projects were implemented and 38 new weapon systems were designed when building of Soobrazitelny, which is a serious impulse for revival of arms-producing companies. The customer’s requirements as of weapons, general-purpose systems, communication aids, automatics were also met. The hull and bulkhead were significantly re-designed during the project implementation, as well as weapon systems.According to Andrei Fomichev, Severnaya Verf Director General, “delivery of Soobrazitelny goes on in strict conformity to the schedule approved by defense ministry“.Currently, Severnaya Verf builds other two corvettes of this project – Boiky and Stoiky. By governmental decree, JSC Severnaya Verf was appointed the only deliverer of modernized Project 20385 corvettes; the contract for 4 ships has been already tied with defense ministry. As was earlier reported, Russian Navy needs 20 ships of this class.Technically, production capabilities of Severnaya Verf shipyard makes possible to build three corvettes in a year. “As of today, Severnaya Verf is the only Russia’s shipyard having no problems with placement and execution of state defense contracts. Moreover, Severnaya Verf became the first company achieved state guarantee for defense order which is indicative of high confidence”, stressed Andrei Fomichev.According to State Arms Program 2011-2020, Severnaya Verf is to deliver six Project 20380/20385 corvettes to defense ministry till 2018, and six Project 22350 frigates till 2020. Now Severnaya Verf constructs four Project 20380, two Project 22350 frigates, and one Project 18280 special communications vessel for Russian Navy.Basic characteristics of Project 20380 corvette:Length overall: 104.5 meters Beam overall: 13 meters Displacement: 2,200 tons Max speed: 27 knots Cruise speed: 14 knots Operational range: 4,000 miles Endurance: 30 days Crew: 10The ship is equipped with Uran attack missile system, 100-mm bow gun, air defense systems, tactical data system, sonar, trailed antenna, and Ka-27 class deck-based helicopter.The ship has low underwater noise and sonar interference levels. Secondary radar and thermal fields of the ship have been considerably reduced due to introduction of special architectural and design solutions.Project 20380 sea-going multipurpose ship is designed for antisurface/antisubmarine/antiaircraft warfare as well as fire support of landing operations.Project 20380 was designed by Almaz Design Bureau.[mappress]Source: rusnavy, October 12, 2011; Image: mdc View post tag: Verf View post tag: Naval Back to overview,Home naval-today JSC Severnaya Verf Shipyard to Deliver Corvette Soobrazitelny to Russian Defense Ministry on Oct 14 View post tag: Severnaya View post tag: shipyard View post tag: deliver View post tag: Russian View post tag: Navy View post tag: News by topic View post tag: ON View post tag: JSC Share this articlelast_img read more

May 4

Navy Finds Vessel with North Korean Refugees

first_imgA vessel with twenty North Korean refugees was found in the Yellow Sea off South Korea, reports Associated Press on Nov 5. According to the news agency, the vessel was detected several days ago near one of the islands off South Korea’s western coast. The national navy was informed about the vessel found first.No details were reported, although AP informs there were 21 refugees on board. Through recent months, that is the largest group of refugees found by South Korean authorities.Normally, most of refugees are deported to DPRK. For instance, in Feb 2011 over 30 of them were found on a boat heading for South Korea. Only four of them were allowed to stay because they accepted official status of deserters. Nevertheless, DPRK blames the neighbor saying North Koreans are detained against their will.[mappress]Source: rusnavy, November 08, 2011; Navy Finds Vessel with North Korean Refugees November 8, 2011 View post tag: News by topic View post tag: Naval View post tag: Korean Share this article View post tag: vessel View post tag: North View post tag: Refugees Back to overview,Home naval-today Navy Finds Vessel with North Korean Refugees View post tag: Navy View post tag: findslast_img read more

May 4

USA: TIP Enrollees Receive Quarterly Vouchers at NBSD

first_img May 11, 2012 View post tag: NBSD View post tag: receive View post tag: TIP View post tag: News by topic USA: TIP Enrollees Receive Quarterly Vouchers at NBSD Share this article View post tag: Naval Back to overview,Home naval-today USA: TIP Enrollees Receive Quarterly Vouchers at NBSD center_img View post tag: Vouchers View post tag: quarterly View post tag: Navy View post tag: usa More than 1,000 Transportation Incentive Program (TIP) enrollees came to the Naval Base San Diego (NBSD) Waterfront Recreation Center to participate in a quarterly voucher distribution May 8 and 9.In April 2001, President Clinton signed Executive Order 13150, which cleared the way for the implementation of this DOD fringe benefit program, which provides active duty military and qualified civilian employees an alternative to driving, by using mass transportation and receiving a stipend for it in the form of vouchers.The NBSD location was the second TIP office opened in the Southwest Region, and has been available to NBSD employees since 2004.“The program works relatively easy, if you are an active duty service member, or a full-time GS [general schedule]/NAF [non-appropriated fund] civilian employee, who works at NBSD and resides out in town, you are eligible to apply for this fringe benefit,” said NBSD Installation Program Manager David Love. “Upon processing and approval, you will receive up to $125 a month to be used for your mass transit commute.”Most of the NBSD participants have enrolled in the program not just to save money, but also to help reduce the amount of cars on the road and pollution in the San Diego air.“I think this program is great, especially for people like me who commute all the way from Temecula,” said Chief Mineman Roel Elizondo. “I participate in a van pool because there’s already so much traffic on the road. This is truly helping the environment because there are seven of us in the van pool, so now there are six less vehicles on the road.”The NBSD TIP program is one of the most popular and largest on the West Coast. The base has a large footprint because it is the homeport of the Pacific Fleet, and it is in close proximity to bus routes and trolley lines.“TIP is important for a variety of reasons; it reduces the carbon footprint/pollution. Less cars on the road equals a cleaner environment and it also helps foster good neighbor relationships with the surrounding community by reducing traffic. The Sailor benefits additionally with vehicle maintenance and insurance costs,” added Love.[mappress]Naval Today Staff , May 11, 2012; Image: navy Training & Education View post tag: Enrolleeslast_img read more