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(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 →
(OE) Australian oil and gas company Red Sky Energy has signed a risk service contract with the Angolan National Agency for Oil, Gas and Biofuels (ANPG), acquiring 35% interest in Sonangol-operated Block 6/24 in the Kwanza Basin, offshore Angola. Sonangol E&P is the operator of the Block with a 50% participating interest. Red Sky Energy... Continue Reading →
(oilnow.gy) Staatsolie said Suriname’s first oil development in the shared basin could cost US$13.2 billion. This would represent the highest development expense for such a project, costing more than any of the six projects already sanctioned for nearby Guyana in the same basin. TotalEnergies, the operator for the Gran Morgu project, had said the project’s estimated cost is... Continue Reading →
(offshoreWIND.biz) Swedish floating wind developer Hexicon has extended a credit facility the company secured earlier to provide support during a period of planned divestments until 30 June 2025. For financing, which amounts to SEK 75 million (approximately EUR 6.6 million), Hexicon signed an agreement with Wallstreet Aktiebolag, part of the Wallenius Group, and a group... Continue Reading →
In support of the current administration’s goals to deploy 30 gigawatts (GW) of offshore wind energy capacity by 2030 and 15 GW of floating offshore wind energy capacity by 2035, the Bureau of Ocean Energy Management (BOEM) today announced the publication of a Call for Information and Nominations (Call) for possible wind energy leasing off... Continue Reading →
Petrobras has signed an agreement with PRIO that allows the operator to access the Campos Basin Integrated Natural Gas Flow System (SIE-BC) and the Cabiúnas Gas Treatment Unit (UTGCAB). With the signing of the contracts, PRIO will be able to use the gas pipeline network to flow and process natural gas from the Frade fields,... Continue Reading →
(Reuters) - The British North Sea is one of the world's oldest offshore oil and gas basins where production has been in steady decline since the early 2000s. At the same time, the region has become one of the world's largest and fastest growing offshore wind basins. U.S. President-elect Donald Trump called to "open up" the British... Continue Reading →
(Reuters) - Norway's Equinor said on Thursday it had secured a financing package of more than $3 billion for its Empire Wind 1 offshore wind power project in the United States. The company expects the total capital investments, including fees for the use of the South Brooklyn Marine Terminal, to be around $5 billion, including the... 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 