Brought to you by Quest Offshore & Southern Cone Consultants
(OE) Norwegian offshore wind services firm Havfram said Monday that construction had started in China for its first offshore wind turbine installation vessel. Havfram could order four WTIVs in total. Havfram said it had secured an additional USD 250 million in equity funding through a partnership between its primary sponsor, Sandbrook Capital, and Canada's PSP... Continue Reading →
(TN) The Brazilian Institute of the Environment (Ibama) has granted two important licenses to Petrobras. The first authorizes the start of operations of FPSO P-71 in the Itapu field, in the Santos Basin pre-salt. The document will be valid for eight years. Petrobras expects to start operating the platform in December. As a reminder, the... Continue Reading →
Partners in the Corentyne block offshore Guyana – Canada’s CGX Energy and Frontera Energy – have completed the previously announced agreement for the block, enabling them to secure funding for their exploration well, which is slated to be spud once the Noble-owned rig, hired for this assignment, arrives at the location. Earlier this year, CGX... Continue Reading →
As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3.8 bcfd of gas) of FPS throughput capacity... Continue Reading →
(OET) U.S. oilfield services player Weatherford International has been assigned an upgrade in credit rating from B- to B with a stable outlook by S&P Global Ratings (S&P). Weatherford disclosed on Wednesday that S&P based the rating upgrade in part on the improvements in financial performance and liquidity. This was driven by “stronger operational performance,” according to the U.S. player.... Continue Reading →
Mainstream Renewable Power, Ocean Winds, and Statkraft have signed a memorandum of understanding (MoU) with Aker Solutions, to collaborate on offshore wind at the Utsira Nord license area in Norway. Mainstream, Ocean Winds, and Statkraft are in a consortium to pursue an application to develop floating wind power at the Utsira Nord license area in... Continue Reading →
(Reuters) Former Elliot Management activist fund manager Franck Tuil on Thursday told Wood Group to buy back some of its stock to avoid becoming a takeover target, sending shares in the oil services provider up by the most in six weeks. It is the first public campaign for his $600 million multi-strategy fund, Sparta Capital,... Continue Reading →
Philip Lewis, Contributor (OE) December was a month of major “firsts” in the U.S. offshore wind space. The first federal auction for offshore wind was held for the West Coast, and the first federal leases for commercial floating wind projects were provisionally awarded. These events are key milestones in the journey to achieve the federal vision of... Continue Reading →
(OE) Global Port Services, owned by Global Energy Group alongside the Port of Nigg, has said it has secured multiple contracts to support its client Seagreen Wind Energy Limited (SWEL), with site enabling works for the pre-assembly construction of wind turbine components (WTGs) at its Port of Nigg facility. The news comes as the final... Continue Reading →
Philip Lewis, Contributor (OE) Developers are beginning to release details of their bids for yesterday’s California floating wind auction. The successful bidders for the two north California Humboldt sites, RWE and CIP, both bid the highest prices per square kilometer of lease area. Both companies have also identified comparatively low development potential of at 1.6 GW... Continue Reading →
Brazil Energy Insight 