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Demand for specialized installation vessels has soared over the past year in response to the growth of the offshore wind energy market, as turbines get larger and project size increases in scale and scope. According to Westwood Global Energy Group, in Europe the average size of turbines currently under construction is 9.3 MW. However, 20-MW... Continue Reading →
(Offshore Energy) Houston-based Vaalco Energy has confirmed progress in its activities offshore Gabon, with a field reconfiguration and replacement of existing floating production, storage and offloading (FPSO) unit with a floating storage and offloading (FSO) vessel still on schedule, the latter being targeted for the third quarter of 2022. Back in August 2021, Vaalco signed... Continue Reading →
(OE) It is clear only a few weeks into 2022 that this year can be a watershed moment for American offshore wind. The Department of the Interior has positioned 2022 to be a record year in terms of offshore wind lease offerings and project greenlights. At the end of 2021, the Bureau of Ocean Energy... Continue Reading →
(Offshore Energy) Malaysian FPSO operator Yinson has decided to review its business with an intention to unlock the value of its offshore production segment, exploring options like IPO or strategic partnerships. Yinson revealed on Tuesday that, as part of the group’s medium-to-long-term strategy to ensure that it is prepared and fit for future growth, the... Continue Reading →
(Offshore Energy) Brazilian oil and gas company Enauta has decided to exercise its option to extend the contracting of a drilling rig chosen for operations on its Atlanta field, located offshore Brazil, adding two additional wells to the scope of work covered by the original contract. Back in January 2022, Enauta entered into a time... Continue Reading →
(Reuters) - International energy major BP has opted to leave Russia after Western countries imposed severe sanctions on its companies and individuals following Moscow's military attack on Ukraine. read more BP, the biggest foreign investor in Russia, said it was abandoning its stake in state oil company Rosneft (ROSN.MM) at a cost of up to $25 billion, shrinking... Continue Reading →
Solstad Offshore has reported a revenue of NOK 5.4 billion for the financial year 2021, an 8% increase compared to NOK 5 billion in 2020. Looking ahead, the Norwegian company revealed it fears that the current situation in Ukraine could impact its operations. The Norwegian company announced a full-year adjusted EBITDA increase of 20% to... Continue Reading →
TechnipFMC first shipment of rigid pipelines from its spoolbase in Brazil TechnipFMC will carry out the first shipment of rigid pipelines from its spoolbase in Porto do Açu, in São João da Barra (RJ), installed in the Dome area (Prumo's joint venture with GranIHC). The operation will start on Friday), marking the supply of the... Continue Reading →
Oilfield services giant TechnipFMC expects more than 350 subsea tree orders to be made globally in 2022, a level which it says has not been seen in years. The oilfield equipment and services firm saw its full-year 2021 inbound orders in the subsea segment hit the $5 billion figure, a 24 percent increase compared to... Continue Reading →
Italian oil company Eni has started oil production via the Miamte FPSO at the Miztón field, offshore Mexico The field sits in Area 1 in the Gulf of Mexico, about 10 kilometers offshore the Tabasco coast. Upon its arrival in Mexico in January 2022, Miamte FPSO has been connected to its Mooring System and... Continue Reading →
Brazil Energy Insight 