Friday, July 10, 2020

Wave of N. American Oil and Gas Bankruptcies to Continue at $40 Oil

© Mike Mareen / Adobe Stock

A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a new surge of COVID-19 cases threaten to stall any recovery in fuel demand, law firm Haynes and Boone said in a report released this week.Bankruptcies surged in the second quarter, including from major shale independents Chesapeake Energy and Whiting Petroleum, as oil prices collapsed due to the pandemic and a brief…

Japan to Develop Offshore Wind Farms at 30 Sites in 10 years

Japan will craft new rules and support infrastructure in a drive that aims to build offshore wind farms at 30 sites during the next decade, the Nikkei business daily said on Thursday.Industry Minister Hiroshi Kajiyama is expected to announce policy measures soon to target the goal, the paper said, without identifying sources.The new policy aims for three or four projects each year with total generation capacity of 1 gigawatt (GW)…

World First Full Scale 'Ammonia as Fuel' Marine Four-Stroke Engine Test

The project leaders pictured at the Sustainable Energy Catapult Center’s test facility at Stord, Norway from left to right: Egil Hystad, Wärtsilä, Willy Wågen, Sustainable Catapult, and Kjell Storelid, Wärtsilä. (Photo: Wärtsilä)

While there is no consensus on the marine industry ‘fuel of the future’ that will meet ever tightening international emission mandates, a group of organizations has commenced what it is calling the world’s first long-term, full-scale, testing of ammonia as a fuel in a marine four-stroke combustion engine. Wärtsilä, Knutsen OAS Shipping AS, and Repsol, and the Sustainable Energy Catapult Center, have teamed for the effort…

Amprion Sets Out North Sea Offshore Wind Grid Vision

Illustration; Image by Tim HvW - AdobeStock

German power grid company Amprion on Wednesday unveiled long-term plans for joint European offshore wind links in the North Sea and announced a trebling of spending in the next 10 years.Amprion, with 11,000 kilometers of high voltage transmission lines in western Germany, is the second biggest of four regulated operators of grids criss-crossing the country and offshore, which fund themselves via consumer fees."If we want to have a climate-neutral energy system by 2050…

Innogy Picks Most Powerful Wind Turbine for Its Largest Offshore Wind Project

SG 14-222 DD Turbine - Credit:SGRE

Offshore wind developer Innogy has chosen giant 14 megawatt (MW) offshore wind turbines for its flagship 1.4 gigawatt (GW) Sofia Offshore Wind Farm, located 195 kilometers from the UK coast on Dogger Bank in the shallow area of the central North Sea.Subject to a final investment decision - expected in 1Q 2021 - Innogy will order 100 units of the recently launched new Siemens Gamesa SG 14-222 DD offshore wind turbines…

Japan's JERA, France's ADEME, Ideol in Floating Wind Pact

For illustration - Floatgen 2 - Ideol - Credits Ideol & V.Joncheray - BD

Japanese power generator JERA said on Monday it has agreed with France's state-owned investment firm ADEME Investissement and French floating wind technology supplier Ideol on key terms for forming a joint venture to develop floating offshore wind farms.They aim to make a final agreement by the end of this year to jointly establish an investment vehicle to finance the development phase of at least 2 gigawatts(GW) of floating offshore wind projects using Ideol's technology…

Construction Starts for Asia's Largest Offshore Wind Blade Manufacturing Facility

Image Credit: MHI Vestas

Taiwanese company Tien Li Offshore Wind Technology has started construction on 210,000 square meter facility in Taichung Harbour to supply offshore wind blades to Taiwan's growing offshore wind industry.Tien Li is one of key local supply chain partners of wind turbine builder MHI Vestas, which this week shared the news on the start of construction of Tian Li's black manufacturing facility.Both production…

New Report Outlines Big Potential for Offshore Wind

(Photo: Ørsted)

Offshore wind currently represents just a small piece of the world’s energy supply. But that’s changing faster than ever before as new and existing players look to tap the huge resource potential—and market opportunities—being unlocked by shrinking costs and technological advances, as outlined in a recent comprehensive market report.In the coming two decades, the rapidly maturing offshore wind market…

Offshore Wind Will Bring Jobs, Growth to New Jersey, Other Coastal States

NOIA President Erik Milito issued the following statement after New Jersey Governor Phil Murphy announced the creation of the nation's first purpose-built marshalling and manufacturing port dedicated to the offshore wind industry:"New Jersey is making a smart move by betting on offshore wind. A thriving and innovative American offshore wind sector is close, but we need to invest in improved ports and infrastructure to make it a reality.

Ørsted CEO Poulsen to Step Down

Henrik Poulsen (Photo: Ørsted)

Ørsted Chief Executive Henrik Poulsen has resigned after eight years at the helm of the Danish offshore wind farm developer, the company said on Monday.Poulsen, who became Ørsted CEO in 2012, spearheaded the group's transformation from a diversified utility with oil and gas activities into the world's s biggest developer of offshore wind farms."We regret his decision to resign as CEO of Ørsted, but we…

The Emerging U.S. Offshore Wind Industry in a Post-COVID-19 World

Join a webinar on June 17, 2020 for the global release of a major new market study on the depth, breadth and growth prospects of the Offshore Wind Market -- https://zoom.us/webinar/register/WN_UR5uY1boTOKdAAcAXDbR4g
© zozulinskyi/AdobeStock

Join a webinar on June 17, 2020 for the global release of a major new market study on the depth, breadth and growth prospects of the Offshore Wind Market --  https://zoom.us/webinar/register/WN_UR5uY1boTOKdAAcAXDbR4gJust when it was looking like the offshore wind industry was finally about to take off in the United States, the COVID-19 pandemic has introduced one more significant layer of uncertainty upon an already very complicated playing field.

USA: Twelve Offshore Wind R&D Projects Selected for Funding

Illustration only - Credit: s_a_j/AdobeStock

The U.S. National Offshore Wind Research and Development Consortium (NOWRDC) has selected twelve projects for contract negotiation, completing its first solicitation for offshore wind research and development technology projects. The twelve awards totaling $10.3 million will support a variety of research areas, including comprehensive U.S. supply chain analyses, studying the impacts of offshore wind on the electric grid system…

Faroe Islands: Minesto Installs Foundation for Tidal Kite System

Illustration; Minesto

Tidal energy developer Minesto has completed the first offshore installation phase of its tidal energy project in the Faroe Islands, as the gravity-based foundation for the powerplant has been installed at the site in Vestmannasund.David Collier, COO at Minesto said: “We are very pleased to have the first sub-sea hardware in place. The operations team has managed to safely progress the offshore installation campaign…

Norway Oil Companies Slash Investment Plans

Offshore rigs in Norway - Credit: BjrnKristian/AdobeStock

Norwegian oil and gas investment, a key economic driver, is expected to decline sharply in 2021 after rising less than previously anticipated this year, an industry survey by the national statistics agency (SSB) showed on Thursday.The biggest drop will come in the exploration for new reserves and in spending on development plans, while ongoing oilfield construction work continues largely as expected…

Shell Weighs Sale of $2B-plus Share in Queensland LNG

Shell Logo - Image by Alexandr Blinov - AdobeStock

Royal Dutch Shell is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Australia, according to a sale flyer reviewed by Reuters."Royal Dutch Shell plc is considering a sale of a 26.25% interest in the Queensland Curtis LNG (QCLNG) Common Facilities - a multibillion-dollar investment opportunity," the sale flyer said.The sale process is being run by Rothschild & Co and is due to be completed in 2020…

Innogy Shares to be Delisted as E.ON Completes Takeover

llustration only. Image by Peterjohn Chisholm - AdobeStock

Shares in Innogy, once Germany's No.1 energy group by market cap, are expected to be delisted this week, as rival E.ON said it completed a buy-out of minority shareholders as part of a broader deal to break up the firm."In the months ahead, we'll focus on the practical integration of all former Innogy operations into our Group. Throughout this process, we'll ensure that our customers' interests will continue to always have priority…

ENGIE Fabricom, Iemants JV to Build Hollandse Kust (North) Substation

Illustration only - Credit:halberg-AdobeStock

A consortium of the Belgian companies ENGIE Fabricom and Iemants will supply the offshore substation platform for the Hollandse Kust (North) wind farm in the Dutch North Sea, TenneT has informed.A wind farm with a total installed capacity of at least 693 MW to a maximum of 760 MW will be built in the Hollandse Kust (North) wind zone.The contract is for the design, engineering, production, delivery, transport and installation of an (unmanned) offshore platform.

Walney Extension Sells Transmission Assets

 Walney Extension Offshore Wind Farm - Credit: Ørsted

Walney Extension Limited, a joint venture owned by Ørsted (50%), PKA (25%) and PFA (25%), and the operator of the Walney Extension offshore wind farm in the UK, has signed an agreement for the sale of its transmission assets to Diamond Transmission Partners Walney Extension.Diamond Transmission Partners Walney Extension is a partnership between Diamond Transmission Corporation Limited (a Mitsubishi Corporation subsidiary)…

Hybrid AUV Completes Depth of Burial Survey for Offshore Wind Farm

Image Courtesy Modus Seabed Intervention.

Modus Seabed Intervention completed a high speed bathymetric and depth of burial survey of the inter array cable routes on the innogy operated Gwynt-y-Môr offshore wind farm, using the Modus HAUV-2 (Hybrid Autonomous Underwater Vehicle) .The Gwynt-y-Môr Offshore Wind Farm comprises 160 Siemens 3.6MW WTGs located approximately 8 miles from the North Wales coast in Liverpool Bay in water depths ranging between 12m and 28m.

Boskalis, Bouygues, Saipem JV to Build Fécamp OWF GBS

Boskalis fallpipe vessel Rockpiper working on a renewables project -Image Credit: Boskalis

A consortium of Bouygues, Saipem, and Boskalis has been awarded the contract for design, construction, and installation of 71 concrete Gravity-Based Structures (GBS) which will serve as foundations for the Fécamp offshore wind farm turbines in Normandy, France. The award was made by Eoliennes Offshore des Hautes Falaises (EOHF), following the launch of the $2,2 billion offshore wind project by EDF Renewables…

Siemens Gamesa Confirms Fécamp Wind Turbine Deal

Offshore wind nacelles and blades will be manufactured at Siemens Gamesa's offshore wind turbine manufacturing plant in Le Havre, France - Credit: SGRE

After EDF Renewables, Enbridge, and wpd on Tuesday announced the sanctioning of the $2,2 billion Fécamp offshore wind project in France, Siemens Gamesa has confirmed it has received the firm order for the supply of wind turbines for the project.The offshore wind turbine maker will deliver 71 SWT-7.0-154 offshore wind turbines each with capacity of 7 MW. Siemens Gamesa has also secured a 15-year maintenance…

French EDF in Offshore Wind JV in China

Illustration only; Image by Kruwt - AdobeStock

French state-controlled power group EDF said on Tuesday it had agreed a joint venture partnership with China Energy Investment Corporation (CEI) to develop offshore wind farms in China.EDF will take a 37.5% stake in the project company through its subsidiaries EDF Renewables and EDF China.

Nigeria Launches Licensing Round for Marginal Oilfields

Image by Jan / AdobeStock

Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, the Department of Petroleum Resources (DPR) said on Monday, despite court rulings last week that barred some of the fields from being auctioned.Marginal fields are smaller oil blocks that are typically developed by indigenous companies. The new licensing round is the first marginal field round since 2002, which…

Seastar Wind Farm Connected to Elia's MOG

Photo of the MOG - Credit: Elia

Belgium’s high-voltage transmission system operator Elia has informed said that the connection of the Seastar offshore wind farm marked the completion of Elia’s offshore power hub Modular Offshore Grid (MOG), Located 40 km off the Belgian coast, the Modular Offshore Grid switching platform bundles together the export cables from four offshore wind farms and transports the generated energy to the mainland via a shared transmission systemThe MOG has been operational since September 2019…

Lebanon Postpones Offshore Licensing Round Again

Image Credit: Lebanese Petroleum Administration

Lebanon has again postponed the deadline for the submissions of applications for its second offshore licensing round, citing the effects of the COVID-19 pandemic and the decline in oil prices.Lebanon had in January postponed the deadline from January 31 to April 30 to allow international firms more time to pursue administrative, technical and financial preparations for the round. I then in April said the deadline would be put off for June 1…

Melbana Gets More Time for Find Beehive Drilling Partner

Image Credit: Melbana

Australian oil and gas company Melbana Energy has been given more time to work on its Beehive offshore prospect in the Bonaparte Basin off W. Australia.The company said Friday that the National Offshore Petroleum Titles Administrator had approved Melbana's application for a 12-month suspension of the work program conditions in respect of Permit Year 3 (with a corresponding extension of the permit term) for the WA-488-P block containing the Beehive prospect.As a result…

Deme Offshore Joins Neptune's Hydrogen Project

Image Credit: Neptune Energy

Offshore installation contractor Deme Offshore has joined Neptune Energy's PosHYdon pilot, the world’s first offshore green hydrogen project, being developed in the Dutch North Sea.Part of the Belgian Deme Group,  the company joins as a partner and will provide the hydrogen unit for installation on the Neptune-operated Q13a platform. The pilot aims to integrate three energy systems in the North Sea: offshore wind…

First Turbine Installed at Borssele III/IV Offshore Wind Project

Image Credit: MHI Vestas Offshore Wind

The first offshore wind turbine has been installed at the Borssele III/IV wind project in the Dutch North Sea, the turbine builder MHI Vestas Offshore Wind has said."The first turbine at the 731.5 MW Borssele III/IV offshore wind project has now been installed by MHI Vestas at site 55 km off the coast of the Netherlands. The first of the 77 V164-9.5 MW wind turbines was installed by the project team after setting sail from the Port of Vlissingen on the Aeolus offshore installation vessel…

RWE, Kyuden Mirai in Japan Offshore Wind Pact

Image by agrarmotive - AdobeStock

RWE Renewables Japan, a Japanese branch of Germany's RWE Renewables, and Kyuden Mirai Energy Company, a Kyushu Electric Power company, have signed a Joint Bidding Agreement to enter into a full-scale feasibility study for the offshore wind power project planned off the coast of Yurihonjo City, Akita Prefecture."We will proceed with formal preparations of the public tender to be organized by the central government based on the Offshore Wind Promotion Law, as well as the Environmental Impact Asses

Gazprom's Arctic Offshore Platform Ships Its 200th Oil Cargo

Image Credit: Gazprom Neft

Gazprom Neft, the oil branch of Russian gas giant Gazprom, has shipped the 200th consignment of ARCO crude from its Prirazlomnaya offshore platform in the Russian arctic.This milestone shipment was carried out by the Mikhail Ulyanov tanker — several return trips to the Prirazlomnaya platform being necessary to despatch a consignment comprising 70,000 tonnes of oil. "The vessel typically approaches one of various direct-loading facilities — or moves away from the platform…

Prysmian's Inter-array Cables for Saint-Brieuc Offshore Wind Farm

Image Credit: Prysmian

Italian marine cable installation company Prysmian has won an €80 million contract to provide the submarine inter-array cable systems for the Saint-Brieuc offshore wind farm in France.Under the contract awarded by the wind farm developer Ailes Marines -  fully owned by Spain's Iberdrola - Prysmian will be responsible for the design, supply, installation, and commissioning of 90 km of three core 66 kV HVAC XLPE-insulated inter-array cables.

Norway: OMV Gets NPD Nod for Hades Drilling

Island Innovator rig - Image by Hans Hausman - MarineTraffic

Austrian oil and gas firm OMV has been granted a permit for the drilling of the offshore well 6506/11-12 S in the Norwegian Sea.The company's Norwegian subsidiary OMV Norge will use the Island Innovator semi-submersible to drill the appraisal well at the prospect named Hades in the production license 644.OMV Norge is the operator with an ownership interest of 30 percent. The other licensees are Equinor (40 percent)…

Northern Offshore Services, SEA O.G Form CTV JV for U.S. Offshore Wind Space

Image Credit: Northern Offshore Services

Northern Offshore Services (N-O-S) and SEA O.G have entered into an agreement to provide marine services and CTV operations to the offshore wind industry in the United States.The partnership will combine the forces of N-O-S, the crew transfer vessel operator in Europe, and the offshore services provider, SEA O.G. Offshore.Northern Offshore Group, based in Sweden operates about 65 vessels in which most…

Atlantic Wind Transfers' CTV for Dominion's U.S. Offshore Wind Farm

Image Credit: Atlantic Wind Services

Quonset Point, Rhode Island-based Atlantic Wind Transfers has secured its second long-term O&M Crew Transfer Vessel contract in the U.S.Under the contract Atlantic Wind Transfers will provide offshore marine support services for the Siemens Gamesa offshore wind turbines to be installed for the first offshore wind project in U.S. federal waters. The project is being developed by Richmond, Va.-based Dominion Energy.

Petrofac Starts Rubie and Renee P&A Work

WilPhoenix semi-submersible drilling rig - Image by Joe deSousa - Flickr, Shared under CC0 license

UK oilfield services firm Petrofac has kicked off the plugging and abandonment work on the Rubie and Renee fields in the North Sea using Awilco's WilPhoenix rig.Petrofac won the Rubie and Renee P&A contract with Hess in August 2019.Over the next three months, Petrofac will provide Well Operator, Well Engineering, and Project Management services to decommission four wells within the Rubie and Renee fields…

GMS Fleet Utilization at 2015 High as More Middle East Work Secured

A GMS jack-up unit/Credit: GMS

Gulf Marine Services PLC (GMS), a UAE-bases supplier of offshore jack-up service units, has won a seven-month contract for one of its E-Class (large) vessels, and an extension for a smaller unit.Under the 7-month contract which also includes extension options, GMS will provide support for offshore activities on behalf of a Middle East client, the company said Tuesday.The vessel will be mobilized for the start of operations during the summer of 2020.

European Energy Wins Approvals for Two Offshore Wind Farms in Denmark

For illustration; Offshore wind farm . Image by badaho/AdobeStock

Renewables developer European Energy A/S has received the approval of its environmental impact assessments (EIA) for two of its offshore wind projects, Omø South and Jammerland Bay in Denmark. European Energy started developing the projects back in 2012 through the so-called open door procedure. The two offshore wind projects are expected to enter into operation in 2023. They have a total capacity…

Largest Wind Turbines for U.S. Largest Offshore Wind Project

Image Credit: SGRE

Siemens Gamesa Renewable Energy's new wind turbines with up to 15MW capacity have been earmarked for an offshore wind project in the U.S.First, the company on Tuesday morning said it was planning to the giant SG 14-222 DD offshore Direct Drive wind turbines at the 300 MW Hai Long 2 project in Taiwan.Later on the same day, SGRE said the same type of turbine - launched just last week - would conditinally be supplied to the massive 2…

Fugro IOVTEC Wins Survey Work at Hai Long Wind Farm Sites

Fugro Voyager - Credit: Fugro

Fugro IOVTEC, a JV between Dutch Fugro and Taiwan's IOVTEC, has secured an offshore geotechnical site investigation project in Taiwan for the Hai Long 2 and Hai Long 3 offshore wind farms. The Hai Long offshore wind farms are being co-developed by Northland Power Inc, Yushan Energy, and Mitsui & Co. Under the newly awarded contract, Fugro IOVTEC will acquire Geo-data at 32 wind turbine locations and the site investigation will be carried out in two phases: seabed and downhole.

Guyana Received $4.9M in Oil Royalties in 1Q

Liza Destiny FPSO is currently producing oil at the Stabroek Block off Guyana - Image Credit: SBM Offshore

Guyana received $4.9 million in royalty payments for oil production at the offshore Stabroek block in the first quarter, the finance ministry said on Monday, a period that included the South American country's first crude exports.The crude produced by an Exxon Mobil Corp-led consortium at the Stabroek's Liza field was priced for the purposes of royalty payments at $61.87 per barrel in January, $54.35 per barrel in February…

Tekmar Boosts U.S. Offshore Wind Presence

Image Credit: Tekmar

Tekmar Group, a UK-based offshore services provider, has announced the involvement of its operating companies; Ryder Geotechnical, Agiletek Engineering, Tekmar Energy, and Pipeshield International in the Coastal Virginia Offshore Wind Project (CVOW) on the East Coast of the US.The 12 MW CVOW project is the first offshore wind project in US federal waters. It includes the deployment of two 6MW commercial…

NOIA: U.S. Offshore Drilling Ban Would Crush Jobs, Govt Revenues

Offshore drilling rigs - Image by wildnerdpix / AdobeStock

A U.S. ban on new offshore drilling in the Gulf of Mexico, which presidential hopeful Joe Biden promised to enact if elected, would lead to hundreds of thousands of job losses and billions in lost government revenue over 20 years, an offshore drilling industry group said on Tuesday.The report by the Washington-based National Ocean Industries Association comes as Biden and other Democrats hoping to…

Poland's PGNiG Expects Over 100,000 Tons of Oil from Skogul in 2020

Processing of oil and gas from Skogul takes place on Alvheim FPSO. Illustration: Aker BP.

Polish oil company PGNiG said Monday it expects to produce about 115 tons of oil from the Skogul field offshore Norway in 2020.First oil from Skogul, located in the North Sea, offshore Norway was achieved in March, 2020. was achieved during the quarter. The field is operated by the Norwegian oil company Aker BP, with a 65% stake, while the Polish firm owns the remaining interest.Jerzy Kwieciński, President…

Gas Output to Resume at Israel's Leviathan After Brief Halt

File photo: Noble Energy

Production at Israel's offshore Leviathan natural gas field will resume in the coming hours after an emergency shutdown on Saturday, the project's operator Noble Energy said [on Saturday].The platform's flare system had been activated to burn off excess gas, generating a flame visible from shore, in what Israel's Energy Ministry called an "emergency closure."Noble initially referred to it as an "operational…

innogy Applauds Ireland's Offshore Wind Push

Illustration only. Image by Peterjohn Chisholm - AdobeStock

innogy Renewables Ireland, the joint developer of Dublin Array Offshore Wind Farm, has this week welcomed the announcement by Ireland's Minister of State, Damien English TD, of a clear road map for the development of offshore wind energy in Ireland. The government earlier this week announced the seven offshore wind energy projects that have been designated as Relevant Projects. These are offshore wind projects that either applied for or were granted a lease under the Foreshore Act 1933…

China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration

Illustratin; Image by xmentoys - AdobeStock

China said on Friday it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply and offset the impact of the coronavirus pandemic.In energy announcements on the first day of the parliament, known as the National People's Congress (NPC), authorities also pledged to boost the country's oil and gas network…

Denmark Proposes Two Giant Wind Energy Islands

Image by nuttawutnuy/AdobeStock

Denmark on Wednesday proposed a more than tripling of its offshore wind capacity by building two energy islands linked to new wind farms in the Baltic and North seas to help to meet climate change targets.The energy islands are an important part of the Social Democratic government's climate action plan which was presented on Wednesday but still needs to be ratified in parliament.Climate and Energy…

LOC to Provide MWS Services for Ørsted Taiwan Offshore Wind Farms

Imag Credit: Halberg AdobeStock

Danish offshore wind developer Ørsted has contracted LOC for the provision of Marine Warranty Survey services (MWS) for the Greater Changhua 1 & 2a offshore wind farms in Taiwan.Under the agreement, LOC will provide MWS services for the transportation & installation of the export and array cables. The cables, including 95 inter-array cables and 16 platform connector cables, will be fabricated in South…

Prysmian's Cables for Hollandse Kust Zuid III and IV Offshore Wind Farm

Image Credit: Prysmian

Prysmian Group, Italian marine cable installation company Prysmian, has finalized a contract for a project awarded by offshore wind farm developer Vattenfall.The contract is for the provision of the subsea inter-array cable systems for the Hollandse Kust Zuid III and IV offshore wind farm in The Netherlands, following Vattenfall’s successful bid for the permit to develop these non-subsidized wind farms.

Spirit Energy Hires PD&MS for Complex E&P Modifications

Illustration only; A Spirit Energy platform - Credit; Spirit Energy

Aberdeen-based engineering and design firm PD&MS has been awarded a new three-year contract with options for a further three-year extension with oil company Spirit Energy. The deal, worth an undisclosed multimillion-pound sum, will see PD&MS deliver complex modifications for the E&P business.The engineering, procurement, construction, and commissioning firm has worked with Spirit Energy since 2018, providing decommissioning support in the Morecambe Bay area.

Wintershall Dea Earnings Drop

Image Credit: Wintershall Dea

German oil and gas company Wintershall Dea reported a sharp drop in earnings in the first quarter of 2020, prompting it to cut costs and reduce oil and gas exploration.Production amounted to 626,000 barrel of oil equivalent per day (mboe/d) in Jan-March, unchanged from the same 2019 period, the company said in a statement on Wednesday.Due to a weaker price environment for commodities, earnings before interest…

Denmark, Vietnam Talk Offshore Wind Expansion

Illustration only: Image by s_a_j - AdobeStock

Denmark and Vietnam are working on finding ways to further boost Vietnam's offshore wind development, which according to the Danish Energy Agency, has a potential of 160 GW offshore wind. As part of the effort, the Danish Energy Agency and the Vietnamese Electricity and Renewable Energy Authority are preparing an Input to Roadmap report for offshore wind development in Vietnam. The Danish Energy Agency…

Vattenfall Taps NGI for Kriegers Flak Wind Farm Monitoring

Van Oord's Svanen heavy-lift vessel - Credit: Van Oord

Swedish wind farm development company Vattenfall has hired Norwegian Geotechnical Institute (NGI) to provide monitoring services for the Kriegers Flak offshore wind farm being built in the Baltic Sea, offshore Denmark.NGI will provide design, production, and installation of instrumentation for two offshore wind turbines, monitoring the Mono Pile (MP) foundation and Transition Piece (TP). "The instrumentation…

Rockhopper Reducing Headcount, Directors' Salaries

Sea Lion development scheme - Credit: Premier Oil

Oil and gas company Rockhopper, with a share in the Sea Lion project off the Falkland Islands, has announced a set of cost-cutting measures which include headcount reductions, and directors' salary reduction.The company said Tuesday that due to the "external events affecting the sector" - meaning low oil prices and the pandemic - it would further reduce ongoing G&A costs and re-balance executive director remuneration from cash to equity "while ensuring retention of key staff…

Repsol Given Green Light to Use Maersk Inspirer at Yme

Maersk Inspirer - Credit: Maersk Drilling

Spanish oil company Repsol has been given a green light to use the Maersk Inspirer jack-up rig at the Yme field, in the North Sea, offshore Norway.The consent, granted by the Petroleum Safety Authority Norway, to connection, completion, and start-up preparations in conjunction with previously installed fixed facilities on the Yme field.The Yme is a field in the southeastern part of the Norwegian sector of the North Sea, 130 kilometers northeast of the Ula field. The water depth is 77-93 meters.

U.S. Tops List of Most Attractive Countries for Renewables Investments. Overtakes China

Illustration only; Image by bphoto - AdobeStock

The United States has overtaken China as the most attractive country in the world for renewables investment and the global clean energy sector is expected to bounce back quickly despite the coronavirus pandemic, research showed on Tuesday.In an annual ranking of the top 40 renewable energy markets worldwide by consultancy EY, the United States was ranked first for the first time since 2016, followed by China.U.S.

Petronas Farms Out Part of Suriname Offshore Block to Exxon

Image Credit: Zerophoto - ADobeStock

Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary of ExxonMobil.The offshore block, known as Block 52, is located north of the coast of Paramaribo, Suriname’s capital city, and is situated in the prospective Suriname-Guyana basin where several major hydrocarbon discoveries were made recently. Block 52 covers an area of 4…

Neptune Energy Terminates Deal to Buy Edison's North Sea Business

Gjøa platform; Credit: Neptune Energy

Oil and gas company Neptune Energy has terminated the agreement to acquire Edison E&P’s UK and Norwegian subsidiaries from Energean Oil and Gas. Neptune will pay a $5 million termination fee to Energean.The two companies had last year agreed for Neptune to buy Edison E&P North Sea assets for up to $280 million, after Energean had previously agreed to buy the oil and gas division of Italian energy company…

EXIM Bank Amends Mozambique LNG Loan. Earmarks $1.8B for Offshore Work

File Photo: Total

The U.S. EXIM Bank has amended its previously approved September 2019 direct loan supporting U.S. exports for the development and construction of the Total-operated LNG project located on the Afungi Peninsula in northern Mozambique.The original scope of the $4.7 billion loan for the project has been amended from exclusively the onshore portion of the LNG plant and related facilities to also allocate an estimated $1.8 billion to support the project’s offshore production.

Delek Looking to Sell Karish & Tanin Royalty Rights

Karish and Tanin fields are operated by Energean / The image shows the fields' development plan - Credit: Energean

Israeli energy conglomerate Delek Group said on Sunday it was in talks to sell royalty rights to two small natural gas fields and was amending its proposed share offering.Delek said it planned to sign a 300 million shekel ($85 million) deal to sell the rights to its share of royalties from the Karish and Tanin gas fields offshore Israel in the coming days.The group has been hard hit by the drop in…