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(RenewEconomy) Floating offshore wind could play a crucial role in helping to reduce the world’s reliance on fossil fuels, says a new report from the Global Wind Energy Council, and will be crucial for countries with limited opportunities to deploy fixed-bottom turbines. The GWEC says offshore wind – now emerging as a key new technology... Continue Reading →
MODEC has started up operations for the FPSO MIAMTE MV34, commissioned by Eni for the Offshore Area 1 block development in the Bay of Campeche offshore Mexico. The charter contract runs initially for 15 years, with options thereafter for annual extensions for up to five additional years. The vessel, moored in 32 m (105 ft)... Continue Reading →
(PN) OneSubsea signed a contract with Enauta for the development of the definitive production system in the Atlanta field, in the Santos Basin. The agreement includes a broad scope of subsea work, with a combined solution covering subsea processing systems, subsea production systems and Christmas Trees. “Through these agreements, we are committed to providing unique... Continue Reading →
A report launched by DNV, Strohm, and the Non-Metallic Innovation Centre (NIC) has shown that thermoplastic composite pipes (TCP) have a significantly lower carbon footprint, in the range of 30-60%, than an equivalent carbon steel pipeline solution. The report outlines the results from a joint industry project (JIP) between the three companies focusing on the... Continue Reading →
(Upstream) Five of seven lease auctions planned by the US Bureau of Ocean Energy Management up to the end of the 2025 are expected to have opportunities for floating wind. Representatives of major offshore wind developers said that 80% of offshore wind potential is in the floating wind sector at the Floating Wind Solutions Conference... Continue Reading →
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 →
(OE) French oil major TotalEnergies has won a bid to build three gigawatts (GW) of offshore wind power capacity on the New Jersey coast in the United States. The company said the $795 million deal is for the 341 sq km New York Bight concession, which is located up to 87 km from the coasts... 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 →
(OM) FPSOs have revolutionized deepwater E&P, enabling oil companies to produce oil in areas that were not previously economically viable. Following a challenging 2020, the FPSO market rebounded dramatically last year, with more contracts awarded in the second quarter of 2021 alone than during the entire 2020. Some estimates suggest the market could reach a... Continue Reading →
(OM) Demand for floating rigs is soaring in the new year, with floaters making up 86% of the awards in February thus far, according to Evercore ISI’s latest Offshore Rig Market Snapshot. While no contract awarded was for more than four months, the firm commented that “day rates are clearly trending higher with Transocean... Continue Reading →
