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(Reuters) - Spanish renewable energy giant Iberdrola set out plans on Thursday to invest 41 billion euros ($44.83 billion) over the next three years, focusing on power grids like Italian rival Enel as the industry seeks better returns. The new plan builds on the strategic shift Iberdrola announced in 2022, when it said it would be taking... Continue Reading →
(Reuters) Europe's largest utility Iberdrola will keep betting on offshore wind in the coming years, roughly tripling the value of its assets in the sector to 17 billion euros ($18 billion), Executive Chairman Ignacio Sanchez Galan told shareholders on Friday. In the past couple of years, the Spanish firm has shifted its focus to upgrading... Continue Reading →
(OE) Italian offshore energy services firm Saipem has secured a contract from Azule Energy, a joint venture between Eni and BP, for the development of Ndungu field as part of Agogo Integrated West Hub Project, offshore Angola. Saipem’s scope of work entails the engineering, fabrication, transportation and installation of approximately 60 km of rigid pipelines... Continue Reading →
(offshoreEnergy.biz) Following an “outstanding” 2023, Italian cabling giant Prysmian has made a solid start to 2024, reporting a net profit of €190 million for the first quarter of the year, compared to €187 million in the first three months of the prior year. Group sales amounted to €3,687 million, with a -5.6% organic growth, while adjusted EBITDA reached €412 million,... Continue Reading →
(OE) French seismic company CGG has changed its name to Viridien. At the Annual General Meeting on May 15, 2024, shareholders approved the resolution to change the company’s corporate name from CGG to Viridien. “Our new name, Viridien, connects our company’s history to our future, confidently positioning us for accelerated growth as an advanced technology,... Continue Reading →
Seatrium Limited (Seatrium or the Group) is pleased to announce that it has been awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of a Floating Production Storage and Offloading (FPSO) vessel.Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas) of Seatrium said, "We arehonoured... Continue Reading →
Principle Power and Aker Solutions (“FloatHOME” consortium) have been chosen as a winner for the second phase of the U.S. Floating Offshore Wind Readiness (FLOWIN) Prize by the DOE. The award consists of a $450,000 cash prize and $100,000 in technical assistance from the DOE National Labs. Prize money is being used to advance WindFloat®... Continue Reading →
(Offshore-energy.biz) Texas-headquartered Oceaneering International has reported an operating income of $44.2 million for its Subsea Robotics division in the first three months of 2024, a 31% increase compared to the first quarter of 2023. In Q1 2024, Oceaneering reported a net income of $15.1 million on revenue of $599 million, while adjusted net income was... Continue Reading →
OM) Petrobras expects to produce a further 860 MMboe from its revitalization of the Marlim Field in the Campos Basin by 2048, when the term for the concession is due to expire. Prior to the project, Marlim's production was projected to cease in 2025. Instead, Petrobras chose to replace nine platforms with two new FPSOs, which... Continue Reading →
(OffshoreMagazine)Rain Byars, technical and delivery director with Atlantic Shores Offshore Wind, provided a developer's perspective on US offshore wind during her keynote session on May 7 at the Offshore Technology Conference (OTC). The dedicated offshore wind thread was a first at OTC this year. Byars has 14 years of experience in offshore wind, and prior to... Continue Reading →
Brazil Energy Insight 