Lloyd’s Register Energy and TWI have launched a joint industry project (JIP) that focuses on additive manufacturing, also known as 3-D printing. The two are inviting companies to tackle current and future issues faced by manufacturers supplying the energy industry, a news release said.
Additive manufacturing is on the rise, according to Lloyd’s Register Energy. Global trends indicate that the market is set to grow by 390% in the next seven years, with Lloyd’s Register Energy's recent Technology Radar survey suggesting that additive manufacturing will have a major impact in the oil and gas industry in the next five years.
Sponsors of this JIP will be able to gain early adoption of approved additive manufacturing practices for their products. Longer-term benefits to companies could include reduced manufacturing and maintenance costs, faster lead times on complex components, component life extension and increased durability, the release said.
Information on the launch event and JIP is available at www.lr.org/additive-manufacturing.
Recommended Reading
Thanks to New Technologies Group, CNX Records 16th Consecutive Quarter of FCF
2024-01-26 - Despite exiting Adams Fork Project, CNX Resources expects 2024 to yield even greater cash flow.
Cheniere Energy Declares Quarterly Cash Dividend, Distribution
2024-01-26 - Cheniere’s quarterly cash dividend is payable on Feb. 23 to shareholders of record by Feb. 6.
Marathon Petroleum Sets 2024 Capex at $1.25 Billion
2024-01-30 - Marathon Petroleum Corp. eyes standalone capex at $1.25 billion in 2024, down 10% compared to $1.4 billion in 2023 as it focuses on cost reduction and margin enhancement projects.
Humble Midstream II, Quantum Capital Form Partnership for Infrastructure Projects
2024-01-30 - Humble Midstream II Partners and Quantum Capital Group’s partnership will promote a focus on energy transition infrastructure.
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.