Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Planned investment in clean energy must increase by 30% to a total of $131 trillion by 2050 to avert catastrophic climate change, with the need to massively scale up hydrogen production particularly acute, according to a study here published on Tuesday. In its annual flagship report, the International Renewable Energy Agency underscored the scale and... Continue Reading →
(Reuters) - Chevron Corp on Tuesday outlined a plan to expand oil and gas production through 2025, but without spending significantly more, and pledged to limit the pace of growth of its carbon emissions. Falling energy demand due to pandemic-driven lockdowns sent the industry into a tailspin in 2020 and led Chevron to a $5.54... Continue Reading →
Fugro is carrying out seep survey and geochemical campaign for Petronas in Block 48, offshore Suriname. Petronas hired the Dutch-based surveyor in order to optimise future exploration activities in this frontier area. The work, conducted from the survey vessel MV Fugro Brasilis, involves geophysical data collection; heat flow measurements; core sampling as well as onboard geochemical... Continue Reading →
ABSG Consulting Inc. (ABS Consulting) has signed an exclusive global licensing agreement to offer an innovative ultrasonic non-destructive testing (NDT) solution that supports expanded use of composite materials on offshore assets to extend service life. Developed to test the heat shield on the Orion space capsule, this is the first proven nondestructive evaluation (NDE) technology... Continue Reading →
Petrobras has developed an innovative data analysis platform, whose objective is to map the production potential of areas recently acquired by the company and portions of fields under development. Named the Analog Panel, the platform integrates a large volume of data obtained from oil reservoirs, enabling comparative analysis and information sharing. The tool is part... Continue Reading →
Offshore project commitments are expected to not only recover but reach a new record—cumulatively almost 600 projects in the 5-year period toward 2025—according to Rystad Energy. Deepwater commitments will see the largest growth as costs have become much more competitive against greenfield continental shelf reserves. For this analysis, Rystad defined a project as committed when... Continue Reading →
Oil major ExxonMobil has revealed its capital spending in 2021 will be in the range of $16 billion to $19 billion as well as its plans to focus on developing technologies to reduce emissions, especially carbon capture and storage technology, and eliminate routine flaring by 2030. ExxonMobil’s 2021-2025 capital program has been optimized to the... Continue Reading →
(Reuters) - Governments and energy companies are placing large bets on clean hydrogen playing a leading role in efforts to lower greenhouse gas emissions, but its future uses and costs are highly uncertain. “Without hydrogen by 2050 we cannot aim to be a net zero (carbon) economy,” Royal Dutch Shell CEO Ben van Beurden told... Continue Reading →
Oilfield services giant Baker Hughes and Norway's Akastor on Monday said they would create a joint venture that will bring together Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s subsidiary, MHWirth AS (MHWirth). MHWirth provides advanced drilling solutions and services, and Baker Hughes’ SDS business is a division of the Oilfield Equipment segment of... Continue Reading →
Offshore mooring systems provider SOFEC has delivered key pieces of equipment for a MODEC FPSO vessel, which will operate for Eni in waters offshore Mexico. Eni contracted MODEC to provide a new FPSO for its Offshore Area 1 project, located off Mexico, back in October 2018. The firm time charter period is 15 years with five... Continue Reading →
