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With more than $200 billion of greenfield investments expected by 2025, the offshore oil and gas sector is expected to get back in the spotlight, according to Rystad Energy, an energy market intelligence group. Rystad Energy’s research shows that annual greenfield capital expenditure (capex) broke the $100 billion threshold in 2022 and will break it again... Continue Reading →
Maritime classification society DNV has appointed Torgeir Sterri as the new Offshore Classification Director for DNV Maritime, with effect from 1 March 2023. Lucas Ribeiro, former Area Manager for Iberia, Italy, and Malta, will succeed Sterri as Regional Manager for West Europe. “Offshore classification has long been part of the bed rock of DNV,” says Knut... Continue Reading →
Dutch geo-data specialist Fugro and Brazilian oil and gas giant Petrobras have completed what they said is the first-ever remote subsea inspection survey off the coast of Brazil. Fugro used a remotely operated vehicle (ROV) deployed from the Fugro Aquarius to conduct the survey. Office-based personnel piloted the ROV from an operations center in Aberdeen, Scotland, instead of from the... Continue Reading →
Italian cabling giant Prysmian Group has reported that 2022 was its best year ever in terms of financial results as its profits and cash generation had grown by over 50 per cent. For 2022, Prysmian’s adjusted EBITDA amounted to €1,488 million, representing a +52.5 per cent growth compared to 2021, while group net profit soared... Continue Reading →
(Reuters) The Biden administration needs until the end of this year to finalize a long-awaited five-year plan for offshore oil and gas development in federal waters, according to court documents filed this week. The U.S. has been without a congressionally-mandated five year schedule of offshore oil and gas auctions since the previous one expired in... Continue Reading →
(OE) The Belgian companies DEME, Tractebel, and Jan De Nul on Wednesday introduced a new harsh-environment offshore floating solar technology called SEAVOLT. According to the three firms, SEAVOLT technology (patent pending) can withstand harsh offshore conditions while creating large surfaces that are protected from the waves. "The modular design allows for easy adaptation to different... Continue Reading →
Petrobras' investments in exploration activities planned for the next five years are around USD 6 billion, with a main focus on sustainability, both economic and environmental. The company's strategy favors its new exploration projects, such as those that will be implemented in the Brazilian Equatorial Margin and in the Tayrona block, in Colombia, the latter... Continue Reading →
Westwood Global Energy, an energy market research and consultancy firm, has revealed that offshore rig scrapping is at its lowest level in years, as the offshore drilling market’s recovery intensifies. As a result, cold-stacked rigs are being increasingly reactivated for new assignments amid growing demand and elevated day rates. According to Westwood’s analysis, during the... Continue Reading →
Australia's Woodside Energy is on track to make a final investment decision this year on the Trion offshore oil project, which would inaugurate production in the deep waters of the country's Gulf of Mexico. [BHP Petroleum, now part of Woodside] partnered in 2017 with state-oil company Pemex, which discovered Trion's reserves five years earlier. The deal... Continue Reading →
The offshore oil and gas sector is back and is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up, the Norwegian energy industry intelligence firm Rystad said in a report Tuesday. According to Rystad, the annual greenfield capital expenditure (capex) will break the... Continue Reading →
Brazil Energy Insight 