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(OE) Yinson Production has completed the acquisition of Norway-based carbon capture and storage (CCS) company Stella Maris CCS from Altera Infrastructure. Stella Maris is developing a full CCS value chain, including carbon capture, intermediate storage, offshore transportation, and permanent sequestration of CO2 captured from industrial sources. The company holds a 40% stake in the Havstjerne... Continue Reading →
(OE) SBM Offshore and Petrobras have signed an agreement to study the application of carbon capture modules on floating production, storage, and offloading (FPSO) units. The module design is based on an engineering and design study between SBM Offshore and Mitsubishi Heavy Industries (MHI), qualified by DNV. It is based on a combination of MHI’s... Continue Reading →
(offshore-energy.biz) U.S.-headquartered energy technology giant Baker Hughes has launched an all-electric subsea production system, marking a step towards full electrification in offshore operations. According to Baker Hughes, the system delivers a fully electric topside-to-downhole solution, designed to integrate with existing subsea tree designs or retrofit electro-hydraulic trees. The move aims to slash costs, installation time,... Continue Reading →
MODEC and Toyo Engineering have jointly obtained an Approval in Principle (AiP) from ABS for a Blue Ammonia FPSO that will produce ammonia from the gas supplied by a traditional FPSO located nearby. Blue ammonia is produced from hydrocarbons where the CO2 emitted during production is sequestrated. The Blue Ammonia FPSO will use gas which... Continue Reading →
(Reuters) - Global investment in low-carbon energy transition exceeded $2 trillion for the first time last year, a report by BloombergNEF showed on Thursday. WHY IT'S IMPORTANT Countries around the world are investing in and developing cleaner sources of power and infrastructure to meet climate targets under the Paris Agreement but many experts say the... Continue Reading →
(Reuters) - U.S. oil and gas producers are thrilled that President Donald Trump wants to encourage domestic energy development but say his decision to withdraw the United States from international climate cooperation will not help their investment plans in the global transition to cleaner energy. The position reflects a rare note of discord between Trump and Big Oil, one... Continue Reading →
( offshore-energy.biz) Ireland-based XOCEAN has secured €115 million in funding to support the growth in the offshore energy and civil hydrography sectors. The Irish ocean data company closed the financing round with support from S2G Ventures, Climate Investment (CI), Morgan Stanley’s 1GT fund, and CC Industries (CCI), a Crown Family affiliate. XOCEAN operates a fleet... Continue Reading →
(OE) SBM Offshore has made initial equity investment in Ocean-Power, a Norwegian company developing an offshore power hub which generates electricity using gas turbines in association with carbon capture and storage (CCS). The investment follows the memorandum of understanding (MoU) the companies signed in June 2024. As a result of this investment, SBM Offshore holds... Continue Reading →
(offshore-energy.biz) With a backlog of $33 billion and sustainability at the heart of its strategy to future-proof its floating production units, the Netherlands-headquartered SBM Offshore is expecting to see a new batch of 40 floating production, storage, and offloading (FPSO) opportunities in the next three years, out of which around 16 are anticipated to be... Continue Reading →
(offshore-energy.biz) The global offshore energy industry’s floating production solutions have come a long way from their humble beginnings and seem to be poised to continue their evolution driven by the need to tap deeper into challenging offshore environments buttressed by growing energy demand, rising security of supply concerns, and increasing climate change prompts to pivot... Continue Reading →
Brazil Energy Insight 