Baker Hughes will supply pipe systems for Brazil's Petrobras
Baker Hughes, a provider of oilfield services, announced on Monday that it had signed an agreement with Petrobras to provide 77 kilometers (47.85miles) of flexible pipe system for Brazil's Santos Basin pre-salt field. Santos Basin, an offshore oil and gas-rich region off Brazil's southeast Atlantic coast. The basin is the largest in the country and has attracted major investment from oil and gas producers around the world including Shell, CNOOC, and TotalEnergies.
Suriname oil and gas project worth $10 billion to be approved by TotalEnergies and APA
TotalEnergies, a French company, and APA Corp, based in the United States, announced on Tuesday a positive decision to invest in Block 58 of Suriname, the most promising offshore oil and gas project. This is expected launch Suriname’s first offshore production. The small South American nation wants to follow the example of its neighboring Guyana. In 2019, a consortium led Exxon Mobil began developing over 11 billion barrels worth of recoverable gas and oil resources…
CNOOC China posts record profit in the first half of 2018 on robust output growth
CNOC, the Chinese offshore oil-and-gas major, posted a record profit for the first half of this year on Thursday. This was largely due to higher oil prices and increased output. CNOOC reported in a filing to the Hong Kong Stock Exchange that net profit attributable shareholders increased 25% to 79.73 yuan (US$11.19 billion). CNOOC's oil and gas production increased by 9.3%, to 362.6 millions barrels of equivalent oil. This was due to the expansion of its reserves.
Protecting Offshore Energy Sources via USV
When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some favor the former while others advocate for the latter. However, what is often lost in the arguments on both sides is that regardless of the type of energy being extracted or generated, those platforms that are offshore, especially oil rigs, oil and gas pipelines, and wind farms…
The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds. As we prepare for the new year, let us look at ten factors that will shape the offshore wind sector in 2023.1. Solid foundations: Optimism for…
Svanehøj Inks Deal to Supply Chinese LNG-import Terminal
In February 2023, Svanehøj Tank Control Systems will deliver the tank gauging system for COOEC’s six new LNG tanks for the Longkou Nanshan LNG Terminal which is under construction.Global investments in LNG are increasing, not least in China, which is currently constructing around 40 LNG tanks with the capacity of 220,000 cu. m. To secure the LNG storage, one of the largest EPCI contractors for offshore oil and gas industry in the Asia Pacific region…
Electrification is Key to Decarbonizing the North Sea
The UK government has set ambitious climate change targets within the oil and gas industry, with The North Sea Transition deal aiming to reduce emissions by 50% before 2030. In the most recent emissions report published by the North Sea Transition Authority (NSTA), the 2025 and 2027 targets appear achievable through natural field decline, targeted flaring reduction initiatives, and improved plant production efficiencies.
Demand Grows for OSVs in the Offshore Floating Production and Storage Energy Sector
Over the last year we have seen an upswing in floating production and storage systems ordering after many years of low activity. According to our colleagues at World Energy Reports, “The global oil and natural gas markets are contending with rebounding energy demand on top of supply disruptions from Russia’s invasion of Ukraine. As a result, activity and business sentiment in the floating production…
VIDEO: One-on-One with Pieter van Oord, CEO, Van Oord
Pieter van Oord is candid in discussing the future growth of his storied company’s activities in offshore wind with specific insights on challenging current jobs, Van Oord’s recent order of a massive and groundbreaking Wind Turbine Installation Vessel, and the company’s future working in the United States.Pieter, to start, can you give a ‘By the Numbers’ look at your company today using the metrics of your choice?Well, 2021 was a disappointing year for us.
Yesterday’s or Tomorrow’s Offshore Energy: Which to Pick?
Looking back, it is easy to wonder if one could have done better by taking the other fork in the road. I grew up in Holland in a maritime family and am pretty sure I would have stuck with maritime there. In 1968, when I was 8 years old, my father left Holland America Line and joined the United States Salvage Association. At the same time, their main customer, the U.S. marine insurance industry…
Intelatus: The long-tenured, New Name in Market Intel & Planning
Intelatus Global Partners is a new name in energy, marine and industrial market analysis and strategic planning, a ‘new name’ with nearly 50 years of experience and proven results.Founded by the merger of International Maritime Associates (IMA) and World Energy Reports (WER), Intelatus is a firm of business consultants with unique experience of nearly five decades across the entire maritime supply chain…
Nippon Foundation, DeepStar Launch Joint Decarbonization R&D Program
The Nippon Foundation signed a Memorandum of Understanding (MoU) with the offshore technology development consortium DeepStar to establish a joint research and development program focused on decarbonization in offshore oil and gas, with a focus on renewable energy and the environment.The initial program budget is up to $10 million through 2026, and the overall plan is to develop technologies for…
Inside the Red-Hot Offshore Wind Energy Market
As the traditional offshore oil and gas markets continue to struggle, the renewable offshore wind market is hot and getting hotter.As the cumulative maritime, offshore, port and logistics marketplace gears up for offshore wind energy on a huge scale, World Energy Reports (WER), in its report “2021 The Year When Offshore Wind Takes Off in the United States,” shows the anticipated growth trajectory.
US Interior Dept Revokes Trump Energy Policies, Focuses on Climate
The U.S. Interior Department on Friday sought to erase the Trump administration's pro-fossil fuels legacy from the nation's public lands by revoking a suite of policies that boosted drilling and mining and ordering that climate change be put at the forefront in future agency decisions.The moves come as the Democratic Biden administration moves rapidly to implement policies aimed at decarbonizing the U.S.
Offshore Oil Firm Eco Atlantic Launches Renewables Division
Eco Atlantic, an oil company with offshore oil and gas acreage in Guyana and Namibia, said Tuesday it had formed a new solar energy-focused company Eco Atlantic Renewables, citing, in part, a lack of oil and gas acquisition opportunities.Formed with Nepcoe Capital Partners Ltd. ("Nepcoe"), a renewable energy developer and investment company, the aim of Eco Atlantic Renewables is to source, acquire and develop an exclusive pipeline of potential high yield solar projects.
Video: The Floating Production Market Faces Headwinds, But Opportunities Exist
There are around 200 offshore oil and gas projects currently being planned for development using a floating production system, however, at around $2B apiece – some up to $5B – final investment decisions will depend on the market situation and the outlook for oil and gas doesn’t seem too bright. Still, around 60 units are expected to be ordered by 2025, per World Energy Reports.In an interview for Offshore Engineer TV on the outlook for floating production systems…
Virtual Conference to Focus on Transatlantic Marine Renewables
Marine industry experts from Portugal and Canada are staging a special Blue Economy conference to spark transatlantic business growth. WavEC Offshore Renewables is teaming up with the Embassy of Canada to Portugal to host ‘Advancing the Blue Economy through Intercontinental Collaboration’. It runs on December 09 and 10.The two-day online event includes a world-class roster of speakers. They will share knowledge on floating offshore wind…
Tech Files: Offshore Power Products
Insights on innovative power products upgrades that could be used to keep offshore operations moving along effectively, efficiently.Maersk Supply Service/Orsted power buoysDanish offshore vessel firm Maersk Supply Service and its compatriot offshore wind developer Ørsted, are testing an innovative charging buoy that can bring green electricity to offshore wind farm service vessels and potentially…
GIEK Doubling Down on Offshore Wind
Tasked to provide the financial power to help Norwegian companies export their wares to the world, Wenche Nistad, CEO of the Norwegian Export Credit Guarantee Agency (GIEK) pulls no punches when asked about the appetite for investment in traditional offshore oil and gas today: “The money has disappeared; nobody wants to invest in oil and gas anymore; it’s all about renewable energy.”While GIEK’s guarantees to offshore wind total only about $500 million today…
Equinor's Incoming CEO Wants to Be Best in Offshore Oil, Gas
Anders Opedal, who on Monday was named Equinor's new chief executive, said he wanted the Norwegian oil company to be both best in offshore oil and gas and at the same time have higher climate targets and develop new low-carbon solutions."I want Equinor to be best in offshore oil and gas," Opedal told a news conference at the company's headquarters, adding that he also wanted the company to create a platform for growth for low-carbon solutions."I want to go further ...
