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Adira Renewables, a wholly-owned subsidiary of Kim Heng, signed a non-binding Memorandum of Understanding (MoU) with Crowley Wind Services to cooperate on offshore wind farm cable laying installation projects across the US East Coast. Under the MoU, Kim Heng will issue updates about material developments and/or the execution of a definitive agreement as and when... Continue Reading →
SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become... Continue Reading →
(OE) Spanish offshore engineering firm Saitec Offshore Technologies and renewables giant RWE on Wednesday marked the completion and the launching operation of their DemoSATH floating wind unit. SATH Technology is based on a concrete platform concept with a plug-and-play Single Point Mooring, the same technology used for FPSOs. The DemoSATH project uses a 2MW turbine... Continue Reading →
Japanese FPSO operator MODEC has seen its new floating production storage and offloading (FPSO) vessel set sail from China to Brazil to work in the pre-salt Santos Basin for the country’s energy giant Petrobras. Converted from a very large crude carrier (VLCC) and delivered by COSCO Shipping Dalian in China, the FPSO Almirante Barroso MV32 started its... Continue Reading →
(REUTERS) Oilfield services provider Baker Hughes on Wednesday reported a bigger second-quarter loss, hit by a $365 million charge from suspension of its Russian operations and supply chain inflation, dampening the benefits of higher oil prices. The company's shares fell about 4.5% to $26.95 in premarket trading. "Our second-quarter results were mixed as each product... Continue Reading →
(Reuters) - Oilfield services provider Halliburton Co (HAL.N) on Tuesday posted a nearly 41% rise in second-quarter adjusted profit compared to the first quarter, and predicted multiple years of growth in demand for drilling. Driven by high oil prices, the increase was in spite of a $344 million hit from the company winding down assets in Russia... Continue Reading →
CRP Subsea has secured several deepwater contracts to provide distributed buoyancy modules (DBMs) in Brazil for undisclosed companies. The distributed buoyancy modules will be used to reduce top tension by maintaining a lazy wave configuration of the pipeline, reducing the risk of pipeline failure and increasing the lifetime of the field, CRP Subsea said. The... Continue Reading →
Green energy infrastructure developer Cerulean Winds has revealed it will bid for four seabed lease sites with a combined capacity of 6 GW of floating wind to decarbonise the UK’s oil and gas sector under Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) leasing round. This scale will remove more emissions quickly, keep... Continue Reading →
(OE) Norwegian oil and gas company Equinor has restarted oil production from the Peregrino offshore field after it was suspended in April 2020. The field was brought back online on June 16, 2022. Production was shut down in April 2020 and Equinor has since thenexecuted a major program of maintenance, upgrades, and repairs on the Floating... Continue Reading →
Brazilian Petrobras has completed the drilling of a wildcat well, located in the pre-salt Campos Basin offshore Brazil, after finding an oil accumulation. The work is now being done to establish the full potential of this play. At the beginning of April 2022, Petrobras revealed that it had found a new oil accuCampos mulation in a wildcat well... Continue Reading →
Brazil Energy Insight 