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(Reuters) - European energy firms Equinor (EQNR.OL) and BP (BP.L) terminated on Wednesday their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs and supply chain issues. "This agreement reflects changed economic circumstances on an industry-wide scale and repositions an already mature project to continue... Continue Reading →
(OE) Portuguese oil and gas company Galp has reported preliminary signs of hydrocarbon presence in an exploration well being drilled offshore Namibia. Galp (operator, 80%) and its partners NAMCOR and Custos (10% each) initiated the drilling campaign in PEL 83, offshore Namibia, on November 17, 2023. The first well, Mopane-1X, indicates preliminary signs of hydrocarbon... Continue Reading →
One of Japan's largest offshore wind farms has started commercial operation in the prefecture of Hokkaido. Tokyo-based renewable energy company Green Power Investment built the facility in Ishikari Bay, off the coast of western Hokkaido. It has 14 turbines, each of which is 196 meters tall. The wind farm started commercial operation at the start... Continue Reading →
Petrobras signed, this Tuesday (02/1), a contract with the company FMC Technologies do Brasil, a subsidiary of TechnipFMC, which won the bid for the integrated Engineering, Acquisition, Construction and Installation (iEPCI™) contract, as well as the carrying out tests to develop the HISEP® technology, patented by Petrobras for the separation of oil and gas at... Continue Reading →
(OET) With energy security running the show, multiple new oil and gas projects were sanctioned throughout 2023. Among the top eight are the ones operated by TotalEnergies, Shell, ExxonMobil, Equinor, Woodside, OMV Petrom, and ADNOC. The year, which is now behind us, kicked off with an announcement from TotalEnergies and its partners, Shell and Repsol... Continue Reading →
(OE) The US Bureau of Ocean Energy Management (BOEM) has updated its Guidelines for Providing Geophysical, Geotechnical, and Geohazard Information Pursuant to 30 CFR Part 585. The guidelines provide information for offshore renewable energy projects and were last published in May 2020. They were primarily developed for the Atlantic Outer Continental Shelf (OCS). However, now that BOEM has... Continue Reading →
Aker Solutions has signed a front-end engineering and design (FEED) contract with the Marine Energy Test Centre (METCentre) in Norway to pilot new subsea power system technology which has the potential to reduce costs and complexity of offshore wind farms. The project will see Aker Solutions provide new power transmission technology, Subsea Collector, for the... Continue Reading →
(Reuters) - Chevron (CVX.N) said on Tuesday it would take non-cash writedowns on U.S. oil and gas production, primarily in California, and for securing abandoned wells and pipelines in the U.S. Gulf of Mexico that had been previously sold. The U.S. oil major expects to take non-cash, after-tax charges of between $3.5 billion and $4 billion in... Continue Reading →
(OET) The offshore drilling market has been reaping the benefits of the ongoing upcycle, as rising demand and tightening supply brought higher day rates and fleet utilization in 2023. Will this trend continue in 2024? Westwood Global Energy, an energy market research and consultancy firm, has outlined its top three predictions for the year ahead,... Continue Reading →
Offshore drilling company Valaris has secured a multi-year contract for drillship VALARIS DS-4 with Petrobras offshore Brazil following a competitive bidding process. The a 1,064-day contract is anticipated to start late in the fourth quarter 2024, following completion of the rig’s current contract with Petrobras, which is expected to finish in September 2024. Based on... Continue Reading →
Brazil Energy Insight 