Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - The Biden administration on Thursday unveiled a plan to accelerate development of next-generation floating offshore wind farms by slashing the cost of the technology by 70% and setting a goal for it to power 5 million U.S. homes by 2035. The announcement was the latest in the White House's push to bolster the... Continue Reading →
(Reuters) - Colombia's new government must drop taxes on oil exports from a proposed tax reform and scrap plans to stop energy companies from offsetting taxes with royalty payments, in favor of surcharges based on production, the private oil producers association said on Thursday. Colombia's new leftist President Gustavo Petro has proposed a tax reform... Continue Reading →
(OM) The American Petroleum Institute (API) and Offshore Operators Committee (OOC) have signed a memorandum of understanding (MOU) to develop standards and guidance for offshore wind energy development. “The natural gas and oil industry has decades of offshore operating experience under highly technical and complex conditions,” said API Senior Vice President of Global Industry Services... Continue Reading →
(EV) It could soon cost half a million dollars a day to hire an offshore rig, according to executives in the industry, in a stunning turnaround for day rates since Covid. Rig rates have surged from a point of “only just covering operating costs” two years ago. At that time, the UK North Sea had... Continue Reading →
(WO) The offshore wind industry is projected to produce 228 GW by 2030, enough to power over 68 million homes. These projects will be at greater water depths and with larger wind turbine generators. Therefore, there is a demand for innovative solutions to deliver these projects. Earlier this year, Heerema Marine Contractors introduced a novel... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) 11B/12B offshore gas field could make a direct annual contribution of at least 8 billion rand ($457 million) to South African government finances, the country's petroleum regulator said on Thursday. "That is not just the overall GDP contribution but is the direct fiscal contribution from the royalties as well as the primary taxes,"... Continue Reading →
(OE) Bureau Veritas Solutions Marine & Offshore, the marine and offshore technical advisory branch of Bureau Veritas, saw a surge in the decommissioning support field orders in the first six months of 2022. The company said that new decommissioning support deals in the UK, Brazil, South Africa, Australia, and New Zealand have led to BV... Continue Reading →
(Reuters) The Biden administration on Wednesday said it had reinstated bids from a November 2021 Gulf of Mexico sale of offshore oil and gas drilling rights, a requirement buried in U.S. President Joe Biden’s new climate change and drug pricing law. The move comes after a federal judge in January vacated the sale’s results, saying... Continue Reading →
Oilfield services giant TechnipFMC said Wednesday it had secured a significant contract with the oil major TotalEnergies for its Lapa North East field in the pre-salt Santos Basin offshore Brazil. For TechnipFMC, a “significant” contract is between $75 million and $250 million. Under the engineering, procurement, construction, and installation (EPCI) contract TechnipFMC will reconfigure and... Continue Reading →
(Reuters) - Shell (SHEL.L) has turned to the head of its gas and renewables business to drive its transition to a greener future, picking Wael Sawan to replace Ben van Beurden as chief executive. Sawan's appointment comes at a pivotal time for the oil giant, which is aiming to reduce emissions to net zero by 2050 and... Continue Reading →
Brazil Energy Insight 