(OE) SBM Offshore has entered into a global collaboration agreement with Microsoft to develop standardized, AI-powered carbon-free floating power solutions to address the growing needs for reliable, affordable, carbon-free electricity. This collaboration is set to transform industrial electrification by combining SBM Offshore’s deep expertise in scalable ocean energy infrastructure and Microsoft’s leadership in AI, cloud... Continue Reading →
Colombia Plans to License Petrobras, Ecopetrol Gas Project by Mid-2026
(Reuters) Brazilian state-run oil company Petrobras and its Colombian counterpart Ecopetrol could have the licenses needed for moving forward a joint offshore gas project in Colombia by mid-2026, said Orlando Velandia, head of Colombia's hydrocarbons regulator. Some 6 trillion cubic feet (TCF) of natural gas reserves have been confirmed, making the project commercial. The partners... Continue Reading →
Guyana Pulls the Plug on Frontera-CGX JV – Exxon Stays Winning
(oilprice.com) Guyana’s government has officially yanked the plug on the Frontera-CGX joint venture, canceling its oil prospecting license for the Corentyne block. The writing had been on the wall since February, when officials gave the JV a 30-day warning. Now, it’s official. The Corentyne block was supposed to be a much-needed diversification play in Guyana’s... Continue Reading →
Argentina’s Vaca Muerta Fuels Oil Production Surge
(oilprice.com) Argentina’s controversial president Javier Milei, a self-described anarcho-capitalist, on taking office enacted strict austerity measures to rein in rampant triple-digit inflation, kick-start the economy and slash a massive fiscal deficit. While it is too early to tell if Milei has reversed decades of economic mismanagement there are promising signs of a miracle emerging. Inflation has plummeted... Continue Reading →
Argentina YPF to get rid of offshore exploration projects, CEO says
(Reuters) - Argentina's energy company YPF wants to speed up a divestiture plan that includes selling controlling stakes in offshore exploration projects in Argentina and Uruguay, reducing its presence in mature fields and later offering a gas distribution company for sale, chief executive officer Horacio Marin said. YPF has exploration rights in seven offshore areas,... Continue Reading →
TotalEnergies and RWE Agree One of the World’s Biggest Green Hydrogen Deals
(oilprice.com) Germany’s biggest utility RWE will supply green hydrogen to France’s oil and gas supermajor TotalEnergies in a 15-year deal from 2030, in one of the largest such agreements globally. RWE to supply around 30,000 metric tons of green hydrogen annually to TotalEnergies from 2030 to 2044, the German utility giant said on Wednesday. The green hydrogen... Continue Reading →
Saipem Unveils Star1 Floating Wind Foundation for Next-Gen Turbines
(offshoreWIND.biz) Saipem has unveiled its Star1 semi-submersible floating wind foundation technology. The star-like shape foundation was recently selected for two floating wind projects planned to be built in Italy. The steel semi-submersible floating wind foundation consists of three arms converging at the centre, where the tower supporting next-generation turbines is installed, including those exceeding 20... Continue Reading →
Reducing cost and risk in floating offshore wind asset integrity monitoring
(offshoreWIND.biz) Offshore windfarm projects currently in development present unique business challenges, even for experienced developers and operators. Newer sites are increasingly far from shore, in harsher metocean conditions, spread over large areas, and utilising floating structures. Floating turbines, which use mooring line systems to connect to anchors, exhibit the greatest challenges. The lines are vulnerable... Continue Reading →
Exxon group’s eighth Guyana project to produce up to 1.5 bcfd of gas
(Reuters) - The eighth energy project in Guyana of a consortium led by U.S. major Exxon Mobil will produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 barrels per day on condensate through a floating production facility that will have capacity to export the fuel, the group told the government.... Continue Reading →
Japan’s FLOWRA and UK’s ORE Catapult Sign Floating Offshore Wind Agreement
(offshoreWIND.biz) Japan’s Floating Offshore Wind Technology Research Association (FLOWRA) has signed a memorandum of understanding with the Offshore Renewable Energy Catapult (ORE Catapult) in the UK to consider collaboration on technology development in the floating offshore wind sector. The MoU aims to lay the groundwork for concrete activities to reduce costs and risks in the... Continue Reading →