Exxon Tries to Put the Worst Behind it With $20 Billion Writedown
By Jennifer Hiller HOUSTON, Nov 30 (Reuters) – Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion,...
ABS announced today a joint development project (JDP) with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) to develop the industry’s first LNG-fueled drillship, one that will be targeted for use in the Gulf of Mexico.
For DSME, their role will be perform a concept design, which has already been completed, as well as conduct a comparison between two types of LNG storage tanks and analysis of the fuel gas supply system. ABS notes they will perform the conceptual design and basic engineering review, as well as perform the risk assessment of the tank space and access area, fuel gas supply system, machinery space and access area and associated configurations.
Working together, the two companies will address challenges associated with storing and managing cryogenic LNG safely by combining DSME’s experience developing and applying LNG technology to floating structures with ABS’ technical standards and experience working on a number of gas-fueled, LNG and regasification unit projects.
“This project builds on years of collaboration between ABS and DSME to evaluate innovative design concepts and new approaches that serve the needs of our clients and feature enhanced safety and efficiency standards,” commented Dr. Hoseong Lee, ABS Vice President, Global Korea Business Development and ABS Korea Energy Technology Center in Busan.
“Many North American vessel owners and operators are making the switch to LNG to achieve substantial operating savings by reducing fuel consumption and lowering emissions to meet the strict sulfur requirements in the North American Emissions Control Area,” says ABS Executive Vice President, Energy Development Ken Richardson. “ABS already has taken the critical first step to develop guidance that addresses the first application of LNG technology on US flagged support vessels for Gulf of Mexico operations. An LNG fueled drillship is another groundbreaking concept that illustrates how deepwater applications are evolving.”
Image (c) R.Almeida/gCaptain
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