Noble CEO: Floaters to keep on reaping the benefits of offshore drilling market’s ‘multi-year uptrend’

(Offshore-energy.biz)Texas-headquartered offshore drilling contractor Noble Corporation is feeling buoyant over the future opportunities for its rig fleet, especially the floater segment, as the U.S.-based player anticipates a further rise in day rates and the number of long-term deals. This will enable the drilling giant to bolster its fleet utilization level. With new multimillion-dollar assignments in... Continue Reading →

May 7, 2024 0

Subsea7’s backlog remains ‘robust’ with high tendering in subsea and offshore wind

(Offshore-energy.biz) Subsea7 has reported a “robust” backlog of $10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors. To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured $7.4 billion of contract awards last year, taking its backlog... Continue Reading →

April 25, 2024 0

Vestas and Maersk to Build Offshore Wind Logistics Base in South Korea

(OE) Vestas has signed a memorandum of understanding (MoU) with A.P. Moller-Maersk, Jeonnam Province, and Mokpo City to build an offshore wind hub in Mokpo City in the Jeonnam Province, South Korea. Under the MoU, the parties will work together with the aim to establish a nacelle manufacturing plant and logistical base for offshore wind... Continue Reading →

April 22, 2024 0

Offshore Wind’s Next Big Problem: Not Enough Vessels

(Bloomberg) -- On the outskirts of Rotterdam, a bright orange ship is hoisted above the muddy Rhine with the help of six chunky triangular legs. The vessel has just been retrofit with a huge crane capable of lifting up to 1,600 tons 160 meters above deck. Once the finishing touches have been made, the Wind... Continue Reading →

March 18, 2024 0

Malaysia’s Petronas Q4 profit falls, flags market uncertainty in 2024

(Reuters) - Malaysia's state energy firm Petroliam Nasional (Petronas) (IPO-PETO.KL), opens new tab said on Friday it expects oil and gas markets to face continued uncertainties this year, as it reported a drop in fourth quarter profit due to lower energy prices. The conflicts in Ukraine and Gaza have led to heightened supply risks, while slowing global... Continue Reading →

March 15, 2024 0

Japan Expands Offshore Wind Reach to Exclusive Economic Zone

(Reuters) Japan's government on Tuesday approved a draft amendment to existing legislation to allow for the installation of offshore wind power in exclusive economic zones (EEZ), a milestone towards the country's goal of carbon neutrality by 2050. Japan aims to have 10 gigawatts (GW) of offshore wind power projects by 2030 and up to 45... Continue Reading →

March 12, 2024 0

Increased charter rates and OSV demand lift Siem Offshore up

(Offshore-energy.biz) Siem Offshore has reported operating revenues of $336 million for the fiscal year 2023, an increase from $274.3 million in 2022, and $85.2 million for Q4 2023, compared to $64.3 million in Q4 2022, said to be caused by an uplift in charter rates, generated by increased demand for offshore support vessels (OSVs) and... Continue Reading →

February 27, 2024 0

Nearly 90 greenfield, brownfield project FIDs expected this year

(OM) Global energy demand continues to ramp up as the world economy emerges from the constraints of the COVID-19 pandemic. According to the US EIA, liquids consumption has grown by 10% over the past three years, averaging 101 MMb/d in 2023. The rebound in oil demand to above pre-pandemic levels continues to spur investments in... Continue Reading →

February 22, 2024 0

Aker Solutions and Principle Power Win 1GW Floating Wind FEED Contract

(OE) Copenhagen Infrastructure Partner (CIP) has awarded a front-end engineering and design (FEED) contract to Aker Solutions and Principle Power for floating offshore wind projects in South Korea. Haewoori floating offshore wind 2 and 3 projects, each rated at 500 MW, are located off the coast of Ulsan. As part of the scope, Aker Solutions... Continue Reading →

February 15, 2024 0

Vestas Unveils First Offshore Wind Turbine Nacelle in Taiwan

(OW) Danish wind turbine maker Vestas has completed the first local hub-nacelle assembly and testing of the V174 offshore wind turbine nacelle at its factory in Taichung Port, Taiwan. Following the complete local assembly of hub components in 2023, Vestas has, for the first time, accomplished the merging and testing of nacelles and hubs in... Continue Reading →

February 1, 2024 0

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