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(OE) UK engineering company Wood has secured a contract from HD Hyundai Heavy Industries for detailed engineering of the topsides facilities on Woodside Energy's Trion floating production unit (FPU) in the Gulf of Mexico. When complete, Trion will have a production capacity of 100,000 barrels per day and connect to a 950,000 barrel capacity floating... Continue Reading →
Offshore staff (OM) Last year was a record for offshore wind investments worldwide, according to a report by TGS - 4C Offshore, with projects totaling 12.3 GW in capacity reaching closure. Up to 13 GW of further projects could go forward in 2024. The 2023 intake included FID on eight European projects total, concluding with Hornsea... Continue Reading →
(OM) AFRY will support the Colombian government to develop offtake mechanisms for commercialization of offshore wind energy, according to a late December announcement. In 2022 the government established the regulatory framework for the country’s first seabed leasing process. Definition of mechanisms for trading offshore wind energy will help provide financial stability and certainty for the... Continue Reading →
Dutch FPSO operator SBM Offshore has corroborated the start of production from a floating production, storage, and offloading (FPSO) vessel, which is working on Petrobras’ giant oil field in the Santos Basin offshore Brazil. As a result of a 22.5-year lease and operation deal from December 2019 with SBM Offshore, Petrobras chartered the FPSO Sepetiba for operations on its Mero... Continue Reading →
(OE) Scottish energy management and storage technologies specialist Verlume has achieved the ‘Granted' status from the Offshore Renewable Energy (ORE) Catapult’s Fit For Offshore Renewables (F4OR) program. Designed as a business improvement programme and to build energy sector specific capability, F4OR has been developed with input from the offshore renewable energy industry and is managed... Continue Reading →
(Reuters) - Norway's state-owned renewable power producer Statkraft on Monday said it plans to invest up to 6 billion euros ($6.56 billion) to upgrade its domestic hydro and wind power facilities and to build new onshore wind farms. The plans would double Statkraft's current output from wind farms and boost the effect of the company's... Continue Reading →
(Reuters) - Shell (SHEL.L) on Monday flagged impairment charges of about $2.5 billion to $4.5 billion for the fourth quarter, mainly related to the Singapore refining and chemicals hub the oil major is looking to sell. The assets include a 237,000 barrels per day (bpd) refinery and a one million metric ton per year (tpy) ethylene plant... Continue Reading →
(OE) Norwegian shipbuilder Ulstein Verft has signed contracts with J.P. Morgan Asset Management for offshore wind Construction Service Operation Vessel (CSOV) newbuilds. In 2023, Bernhard Schulte Offshore ordered the design and construction of two such vessels from Ulstein under a contract which included options for two plus two vessels. These options have been transferred to institutional investors... Continue Reading →
(OET) Norwegian owner and operator of LNG carriers and FSRUs Höegh LNG has extended and expanded its services to LNG import terminal Sociedad Portuaria el Cayao (SPEC LNG) in Cartagena, Colombia. Höegh LNG said the agreement with SPEC enables continuity and increase of energy supply through at least 2031, with both companies remaining committed to... Continue Reading →
(Reuters) Exxon Mobil Corp warned on Thursday it would write down about $2.5 billion of California assets in the fourth quarter, and said lower energy prices reduced operating profits. The snapshot by the largest U.S. oil producer showed operating results could drop to about $8.9 billion, down 30% from the $12.7 billion net profit a year earlier, and 3% weaker... Continue Reading →
Brazil Energy Insight 