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(OE) State-backed export credit agency Export Finance Norway (Eksfin) has provided loan guarantee financing to Spanish energy company Iberdrola, a transaction that supports Norwegian exporters’ participation in the East Anglia Three wind park project in the UK. Through the transaction, Eksfin has provided guarantee financing for the first time to a Spanish energy company and... Continue Reading →
(Reuters) Global oil major BP said the world must invest in the production of oil and gas to avoid sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions.Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost... Continue Reading →
(PN) China National Offshore Oil Corporation (CNOOC) signed an agreement for two research projects on renewable energies offshore, with funding of R$ 16 million. With a duration of three years, the research will have the participation of more than thirty people, from four different Coppe laboratories, who will work in several areas, including hydrodynamics, aerodynamics,... Continue Reading →
Drilling simulation technology provider Drilling Systems has launched a next-generation DrillSIM Downhole model to support realistic training for geothermal applications. The model is now implemented for the first time at the Drilling Simulator Celle, a research facility of Clausthal University of Technology (TUC) in Germany. The new downhole model will further enhance the research and... Continue Reading →
(OE) Subsea7 reports a major advance in its remote piloting technology by fully operating a workclass ROV from Scotland to carry out operations 9,400km away off the coast of Brazil. Developed by Subsea7, it can perform key inspection repair and maintenance (IRM) tasks "precisely and safely" under remote control with the potential to increase operational flexibility.... Continue Reading →
(OE) Offshore drilling contractor Transocean said Wednesday that the world’s first subsea 20,000 psi blowout preventer (BOP) had been successfully deployed from its Deepwater Titan drillship. The 20K BOP stack, supplied by NOV, is designed for use with extremely high-pressure reservoirs and can be used in ultra-deepwater applications "This cutting-edge technology opens up new opportunities... Continue Reading →
The global offshore wind supply chain will require US$ 27 billion of secured investment by 2026 if it is to meet a fivefold growth in annual installations (excluding China) by 2030, according to energy intelligence group Wood Mackenzie. This figure is based on Wood Mackenzie’s base case outlook which forecasts annual capacity additions to hit... Continue Reading →
(OET) Singapore’s offshore builder Dyna-Mac has set the wheels into motion to enable more flexibility in addressing spikes in floating production storage and offloading (FPSO) module fabrication demand and embark on a hot pursuit of global carbon capture and storage (CCS) projects, thanks to two memoranda of understanding. The first memorandum of understanding (MOU) was... Continue Reading →
Philip Lewis contributor: (OE) A fleet of newbuild specialized anchor handlers will be required to help build up the emerging floating offshore wind industry. But since the industry is still in its early days, many unknowns have made it difficult for shipyards and their partners to gear up to build this fleet. This article explores... Continue Reading →
Baker Hughes and Marine Power Systems (MPS) have set up a partnership to work together on delivering integrated solutions for the electrification of oil & gas facilities and their supporting subsea systems. According to the partners, meeting global net-zero targets requires a dual strategy where efficiency improvements are implemented today while also investing in new... Continue Reading →
