Transocean drillship embarks on maiden gig with Petrobras in Brazil

(Offshore-energy.biz) Switzerland-based offshore drilling contractor Transocean has gotten down to business in Brazil, where its newbuild ultra-deepwater drillship set the ball rolling on its inaugural drilling assignment with the country’s state-owned energy giant Petrobras. Following a purchase agreement at the end of 2022 for the acquisition of the Deepwater Aquila (ex-West Aquila) drillship for $200 million from Hanwha Ocean,... Continue Reading →

July 1, 2024 0

Preparing for Floating Wind – Leveraging the Oil & Gas Supply Chain

Philip Lewis, Contributor Examining similarities and differences between the deepwater oil & gas and the emerging floating wind segment. (OE) There has been much excitement around the potential for the offshore wind industry to access deeper water sites through the deployment of floating wind technology. Further, there has been much discussion around the development and deployment... Continue Reading →

June 28, 2024 0

Fulcrum LNG to Pair with McDermott, Baker Hughes for Guyana Gas Project

(Reuters) A proposed large natural gas project in Guyana by U.S. energy developer Fulcrum LNG includes partnerships with U.S. oil service company Baker Hughes and engineering firm McDermott, the country's vice president said on Thursday. Guyana's President Irfaan Ali last week said Fulcrum LNG had been chosen from among 17 companies to help Guyana develop... Continue Reading →

June 28, 2024 0

WindEurope Warns Against Negative Bidding (Again) as Germany, Netherlands Bag EUR 4 Billion Through Offshore Wind Tenders

(offshoreWIND.biz) European wind energy industry organisation, WindEurope, has warned that the negative bidding approach will lead to the bid costs falling onto the supply chain and/or electricity consumers after Germany and the Netherlands closed their latest offshore wind tenders, securing nearly EUR 4 billion in total through winning bids. In both countries, the offshore wind... Continue Reading →

June 27, 2024 0

Iberdrola Gives Go-Ahead for Its Third Offshore Wind Farm in Germany

(OE) Iberdrola has taken the final investment decision (FID) for its Windanker offshore wind farm, located in the German Baltic Sea, advancing the 315 MW project to delivery phase. Windanker wind farm will reinforce Iberdrola’s Baltic Hub, which will add more than 1,100 MW of installed offshore wind capacity, comprising also the Wikinger project with 350 MW,... Continue Reading →

June 27, 2024 0

BP Halts Hiring, Pauses New Offshore Wind Projects to Win Over Investors

(Reuters) BP's new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss... Continue Reading →

June 27, 2024 0

A mountain of asset sales loom after oil megamerger era

(Reuters) - U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews. The share buybacks and dividends are needed to lure investors back... Continue Reading →

June 26, 2024 0

Does an OSV Newbuild Boom Loom?

Jesper Skjong, Contributor (OE) There are solid underlying fundamentals that are driving the increased vessel demand, chief among them is the increased offshore upstream investment on a global level. Overall, spending on exploration and production is set to increase roughly 45% from 2021 to 2025, reaching a total of almost $200 billion in the latter year.... Continue Reading →

June 26, 2024 0

EU-Funded Project Aims to Develop Cheaper, More Environmentally Friendly Floating Wind Farms

(offshoreWIND.biz) A consortium gathering 17 partners from eight European countries has started working on a project, dubbed Floatfarm, with a goal to lower the levelised cost of energy (LCOE) of floating wind through solutions such as shared mooring and anchoring, and to reduce the impact of floating wind farms on marine wildlife. Funded by the... Continue Reading →

June 25, 2024 0

Stabroek Block cost recovery to exceed US$30 billion in 2024

(Oil Now) Cost recovery for investments into the Stabroek Block petroleum operations are set to accumulate to approximately US$31 billion by the end of 2024. The Stabroek Block Production Sharing Agreement, inked by the Guyana government, ExxonMobil, Hess and CNOOC, allows the co-venturers to recover investments by taking up to 75% of annual production as... Continue Reading →

June 25, 2024 0

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Category: Financial

Transocean drillship embarks on maiden gig with Petrobras in Brazil

Preparing for Floating Wind – Leveraging the Oil & Gas Supply Chain

Fulcrum LNG to Pair with McDermott, Baker Hughes for Guyana Gas Project

WindEurope Warns Against Negative Bidding (Again) as Germany, Netherlands Bag EUR 4 Billion Through Offshore Wind Tenders

Iberdrola Gives Go-Ahead for Its Third Offshore Wind Farm in Germany

BP Halts Hiring, Pauses New Offshore Wind Projects to Win Over Investors

A mountain of asset sales loom after oil megamerger era

Does an OSV Newbuild Boom Loom?

EU-Funded Project Aims to Develop Cheaper, More Environmentally Friendly Floating Wind Farms

Stabroek Block cost recovery to exceed US$30 billion in 2024

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