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(OW) Skyborn Renewables and its partners in the Yunneng Wind Power consortium that owns the Yunlin offshore wind project in Taiwan have signed an extended financing agreement to complete the construction of the 640 MW offshore wind farm. The project is now on track for completion according to an amended installation schedule. The news comes... Continue Reading →
Samsung Heavy Industries has received basic certification for a floating CO2 storage unit (FCSU) from DNV. The FCSU, jointly developed by Samsung Heavy Industries and MISC, is 330 meters long and 64 meters wide, and has a high-pressure tank capacity that can store 100,000 cubic meters of liquefied CO2 at -50 degrees Celsius or less. The injection module mounted on the... Continue Reading →
Malaysia's Petroliam Nasional Berhad (Petronas) will focus on bolstering its capital position to deal with increasing volatility in the energy market and "restrictive" access to financing, the state oil firm's chief executive said on Wednesday. Petronas posted a 29% drop in second-quarter profit, in line with oil majors such as Chevron, Exxon Mobil and Shell.... Continue Reading →
(OET) UK-headquartered energy services provider Expro has entered into a definitive agreement to acquire the Houston-based offshore services provider, PRT Offshore, which will enable it to enhance its portfolio of services and solutions within the subsea well access sector in North and Latin America (NLA). This will also boost PRT Offshore’s surface equipment offerings in Europe, Sub-Saharan... Continue Reading →
(OE) DEME Group has released its half year results saying its orderbook is 7.7 billion euro ($8.3 billion), up 36% compared to H1 2022, reflecting continued healthy demand and strong market positioning across all segments. Group turnover grew 14% year-over-year to 1.5 billion euro ($1.6), with growth in the offshore energy and environmental segments. Net... Continue Reading →
With corporate headquarters in Norway and operational headquarters in the U.S., TGS is actively working on scaling up the efficiency of seismic surveys. To this end, the energy data and intelligence provider is pooling resources with Apparition Geoservices GmbH, thanks to a new long-term collaboration agreement. The exclusive four-year collaboration agreement enables TGS and Apparition... Continue Reading →
(OM) Mexico’s regulator has approved the unitized development plan for the offshore Zama oil field, according to partner Harbour Energy. The Pemex-led joint venture is now preparing to start the FEED and reassess cost estimates ahead of a potential final investment decision in 2024. Earlier this year Harbour participated in the Wintershall Dea-operated Kan-1 exploration... Continue Reading →
(Reuters) Guyana has gained a larger share of Europe's oil market this year, vessel monitoring data showed, driven by rising output by a consortium led by ExxonMobil and strong demand for light sweet crude grades amid a reshuffling of global oil flows. Western sanctions on Russian oil due to its invasion of Ukraine since last... Continue Reading →
(OET) Singapore’s offshore builder Dyna-Mac has set the wheels into motion to enable more flexibility in addressing spikes in floating production storage and offloading (FPSO) module fabrication demand and embark on a hot pursuit of global carbon capture and storage (CCS) projects, thanks to two memoranda of understanding. The first memorandum of understanding (MOU) was... Continue Reading →
Philip Lewis contributor: (OE) A fleet of newbuild specialized anchor handlers will be required to help build up the emerging floating offshore wind industry. But since the industry is still in its early days, many unknowns have made it difficult for shipyards and their partners to gear up to build this fleet. This article explores... Continue Reading →
Brazil Energy Insight 