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Prysmian, the Italian energy and telecom cable systems provider, has won two contracts worth approximately €250 million (around $253,3 million) by Red Eléctrica de España, S.A.U., the transmission system operator of the Spanish power grid. The contracts are for the development of two projects: a submarine power interconnection between the islands of Tenerife and La... Continue Reading →
Prysmian has received the first layer of approval of the construction permits for the development of its new subsea cable plant in Brayton Point, Massachusetts, which will service the U.S. offshore wind sector. Construction is planned to start in the summer of 2023 and to take two years. With a $200 million investment, Prysmian will... Continue Reading →
(Upstream) Brazil’s vast potential for offshore wind generation and the challenges associated with implementing this new industry in a country that is still investing a lot of money in oil and natural gas projects were among the hot topics discussed in Upstream’s latest digital conference. With more than 130 gigawatts of future projects under environmental... Continue Reading →
The world market for the supply of underwater Christmas trees should have Brazil as the main stage during this third quarter. In a survey carried out by Westwood Energy, the main contracts of the type expected for the period between July and September should include Shell's Gato do Mato projects in the Santos basin; Maromba,... Continue Reading →
Brazilian oil company Petrobras has awarded a 4-year contract to CIMC and OOS International for the OOS Tiradentes semi-submersible accommodation rig. Under the contract, the accommodation rig will be used to provide safety and maintenance support offshore of Brazil from April 2023 onwards. The four-year contract award follows on from two long-term contracts previously awarded by Petrobras in 2018... Continue Reading →
(OM) Two key Equinor field development projects offshore Brazil are driving deepwater rig contracting activity, according to Evercore ISI’s latest Offshore Rig Market Snapshot. Recently,Valaris announced that it will be reactivating the DS-17 for a new 540-day contract with Equinor for offshore Brazil. The $327-million contract value includes $86 million in upfront reimbursements for mobilization, reactivation,... Continue Reading →
The European Commission has chosen Technip Energies, X1 Wind, and a consortium of ten international entities, to deliver the NextFloat project, a program aimed at accelerating industrial-scale floating wind. NextFloat project's main objectives are to demonstrate a competitive, sustainable, and integrated floating offshore wind solution optimized for deep waters and to accelerate the industrial-scale deployment... Continue Reading →
Half-year data points for the offshore market released by Clarksons Research, profiling improving activity, utilization and day rates across the offshore oil and gas market, show the overall index is up 17%. Reviewing the data, Steve Gordon, Managing Director of Clarksons Research, commented: Overall Index up 17% in 1H to highest level for seven years …... Continue Reading →
Ocyan has signed a contract with Solstad Offshore for the charter of a “Normand Cutter” construction support vessel. The purpose is to enable Ocyan to participate in several projects in the segment and the first of them will be the contract for the decommissioning of the subsea systems of 3 FPSOs, recently won from Petrobras... Continue Reading →
(Reuters) - New legislation approved by the Brazilian Congress late on Wednesday reinstates a tax advantage to biofuels compared with fossil fuels, which should benefit companies producing ethanol in the long-term, analysts said on Thursday. Brazil's lower house approved the government-sponsored bill that among other things includes a provision saying biofuels should enjoy lower taxes... Continue Reading →
Brazil Energy Insight 