The Swedish floating wind technology specialist Hexicon has obtained maritime priority rights for two offshore wind concessions in Italy, where it is operating through its joint venture, AvenHexicon Srl, with local partner Avapa Energy Srl. Earlier this year, applications for both grid connections and Maritime Concessions were sent in. AvenHexicon has now obtained priority rights for... Continue Reading →
Oceaneering secures $300 million in subsea robotics contracts
Oceaneering’s Subsea Robotics segment has won multiple contracts in the third quarter of 2022 with anticipated aggregate revenue of $300 million. The contracts are primarily for remotely operated vehicle (ROV) services delivered from floating drilling rigs and vessels for subsea equipment support, subsea intervention and construction. Included work scopes are also ROV tooling, survey, positioning... Continue Reading →
BlackRock assets fall below $8 tln, profit beats on strong ETF demand
(Reuters) -BlackRock Inc posted a smaller-than-expected drop in quarterly profit on Thursday as strong demand for exchange-traded funds and other low-risk products cushioned the hit to fee income from a global market rout, but its assets under management fell below expectations. The threat of a recession, surging interest rates and the Ukraine crisis have slammed... Continue Reading →
August 22 oil production in Brazil reached 3,087 million boe/d
The National Petroleum Agency (ANP) released preliminary production data for the month of August. Brazil hit the mark of oil production of 3.967 million barrels of oil equivalent per day (MMboe/d), with 3.087 million barrels per day (MMbbl/d) of oil and 139.96 million cubic meters per day ( MMm3/d) of natural gas. In the pre-salt,... Continue Reading →
DNV: Offshore wind could grow 56-fold by 2050 and significantly contribute to green hydrogen production
Offshore wind capacity could grow 56-fold until 2050, driven by a growing need for decarbonisation and energy security, and decreasing costs. Regarding the latter, bottom-fixed and floating offshore wind levelised costs of energy (LCoE) are forecast to drop by 39 per cent and 84 per cent, respectively, according to the new Energy Transition Outlook from... Continue Reading →
Marine Power Systems, WavEC to Deploy Modular Floating Wind System in Portugal
Marine Power Systems from the UK is working with WavEC from Portugal to set up its modular floating offshore wind platform in the north of Portugal. "Floating offshore wind is increasingly featuring in government decarbonization targets around the world and Portugal is no exception. The Portuguese government has shown its commitment to offshore wind with... Continue Reading →
Equinor produces first oil from new Peregrino C platform in Brazil
Equinor’s new platform in Brazil, Peregrino C, produced its very first oil on 10 October at 20:00 local time. Peregrino is Equinor’s largest operated field outside Norway. Peregrino phase 2 will extend the Peregrino field life to 2040. Phase 2 adds 250-300 million barrels of oil, while at the same time halving expected CO2 emissions per... Continue Reading →
Energy transition to gather pace in Europe while the rest of the world lags, DNV finds
The heightened focus on energy security and the rising cost of energy is reinforcing the difference in decarbonization speed between Europe and the rest of the world, according to the sixth edition of DNV’s Energy Transition Outlook. Europe, which can be regarded as the leader of the energy transition, will double down on renewables and energy... Continue Reading →
FOW Players Target 132kV Dynamic Cables
Elaine Maslin, Contributor UK industry players are eying the development of 132kV dynamic array cables to meet the demands of ever larger turbines, but there are calls for standards to be agreed before they invest. The need for 132kV cables is being driven by the growth is turbine capacity to 15MW and beyond, with 20MW turbines... Continue Reading →
Floating Wind Prize Grows, But Not Without Risks
Elaine Maslin, Contributor (OE) Industry interest in floating offshore wind in the UK has seen rapid growth, but a race to the bottom in terms of cost, as well as port and manufacturing capacity, could mean targets are not met and challenge the long-term sustainability of the industry. These issues were raised at the sell-out Floating... Continue Reading →
Brazil Energy Insight 