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SBM Offshore, one of the world's largest suppliers of floating, production, storage, and offloading (FPSO) vessels for the offshore oil industry, is looking at ways to diversify its offering, with a more dominant role predicted for gas in the future. The company, which has the ambition to have 25% of revenues from Gas & Renewables... Continue Reading →
4Subsea, a provider of tech solutions for the offshore energy industry, has secured a service agreement to monitor steel catenary risers on the Bacalhau field FPSO, offshore Brazil. The field, in Brazil's Santos Basin, is operated by Norway's Equinor. 4Subsea, part of Subsea 7, will deliver the service using its 4insight Subsea Asset Integrity a... Continue Reading →
(OE) That’s the question? Or, more specifically, are there alternative ways of delivering robotics to where they’re needed without having to have seabed docking stations? Elaine Maslin takes a look. The idea for some kind of resident subsea vehicle has been around for some time. From BP’s considerations in 1986 for an integrated ROV launch... Continue Reading →
Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure... Continue Reading →
(Offshore) Wood Mackenzie estimates that the global upstream industry could net a windfall of over $1 trillion if oil prices remain above the $50/bbl planning price. According to research director Kavita Jadhav, there are various ways the industry could invest the extra revenue. These include returning cash to shareholders, maintain spending on oil and gas, and... Continue Reading →
Subsea engineering, construction and services company Subsea 7 has revealed its target to achieve net-zero greenhouse gas (GHG) emissions by 2050. In addition, using 2018 as a baseline year, Subsea 7’s target is to reduce its Scope 1 and Scope 2 emissions by 50% by 2035. According to the company, the goal is based upon... Continue Reading →
Offshore vessel owner DOF Subsea has entered a partnership deal with offshore survey firm Ocean Floor Geophysics Inc. (OFG) to offer Autonomous Underwater Vehicle (AUV) services to the international offshore industry. "The partnership will effectively leverage the two businesses’ recent collaboration in the development of the OFG AUV non-contact integrated Cathodic Protection (iCP) inspection system... Continue Reading →
(Reuters) - The use of low-carbon hydrogen and ammonia in fossil fuel power plants can play a key role in maintaining energy security during the transition to greener power, the head of the International Energy Agency (IEA) told a virtual conference held by Japan's industry ministry on Wednesday. IEA chief Fatih Birol told the International... Continue Reading →
France-based geophysical services company CGG has completed the sale of its GeoSoftware business to Topicus and Vela Software. The company has closed the sale for a total cash consideration of $95 million with the transaction effective from 1 October 2021. To remind, CGG entered into an agreement with Topicus and Vela Software for the sale of the... Continue Reading →
(Reuters) - Governments need to step up investment in hydrogen production and storage chains to help cut net emissions to zero, the International Energy Agency (IEA) said on Monday. States and private investors had so far only come up with about a quarter of the $1,200 billion needed by 2030 to develop and deploy hydrogen... Continue Reading →
Brazil Energy Insight 