The global trend in offshore oil & gas industry is cost cutting, and in some cases postponing projects, as a result of low oil prices.
LKAB Minerals participated in the Offshore Technology Conference (OTC) in Houston and Oil and Gas Asia (OGA) in Kuala Lumpur to explain all about MagnaDense and the cost control this could bring for the different offshore projects.
The use of MagnaDense for applications in offshore is either to be found when there is a need for loose ballast or for high density concrete. MagnaDense is produced from Magnetite, a natural iron oxide mined in Sweden and has a high density in the range of 4.7 - 5.2 t/m³, and submerged densities up to 3.1 t/ m³, which can be achieved with compacting.
Some key benefits of using MagnaDense from LKAB Minerals are:
- High and consistent quality of aggregate
- Sustainable supply
- High density – less material needed
- Flexibility in design for ballast tanks with less space needed
- Customer tailored logistic solutions supporting efficiency
- Proven supplier to projects around the world
High density saves space
Applications include; concrete weight coating, anti-buoyancy mattresses, seabed anchors for wave and tidal devices. Antifer cubes for sea defense can be made with high density concrete achieving up to 4.0 t/m3, compared with 2.4 t/m³ for traditional concrete. This means a decrease of 40%.
Optimal ballast which can be recycled
When choosing the optimal ballast for spar platforms and gravity base foundations the right density, specification, quality, and consistency is key. MagnaDense has excellent resistivity, a very important characteristic when looking at project sustainability and something that makes it ideal to recycle and reuse.
Offshore industry outlook: US vs. Asia
Although offshore projects are found throughout the entire world, the sentiment between the American OTC and the Asian OGA was very different.
Mats Drugge, Managing Director of LKAB Minerals Inc. USA and present at the OTC said, “unfortunately the OTC experienced a decrease in visitors due to the current market situation in the Oil & Gas market where the price of crude oil influences many related investments. Nevertheless, OTC still is one of the largest offshore shows in the world and remains an important show for LKAB Minerals to meet potential new customers and keep us informed about the latest trends and projects in the offshore industry worldwide.”
LKAB Minerals participated for the first time in the 15th bi-annual OGA Oil and Gas Show. The Asian market is an upcoming market for the Magnetite business and with new salespeople in Hong Kong and China, LKAB Minerals anticipated that the OGA would be the right show to attend.
“Both events are an important tool for LKAB Minerals to increase the MagnaDense brand awareness in the Oil & Gas industry. Especially the OGA showed there is a huge market potential to explore in Asia” said Bas Sotthewes who participated in both large international offshore events.