Offshore NEWS

Global renewable energy player Siemens Gamesa has announced that it has signed a MOU with Doosan Enerbility to investigate strategic cooperation within offshore wind power activities on several Korea-focused fronts. They are related to collaboration on large-scale offshore wind turbines, sharing of major services including construction of new Korean production facilities, the supply of wind turbine parts, offshore wind turbine installation, and turbine maintenance, among others.

Equinor and its partners in the Troll and Oseberg oil and gas fields in the North Sea are looking into possible options for building a one-gigawatt floating offshore wind farm, the Norwegian energy firm said on Friday. The project, named Trollvind, could provide much of the electricity needed to run the Troll and Oseberg fields through an onshore connection point, Equinor said. "Power from Trollvind could make a solid contribution towards electrification of of oil and gas installations, accelerate offshore wind development in Norway, and deliver extra power to the Bergen region," it said in a statement.

EPC tender for further development of Daman field off the west coast could be tendered in May

Oil Minister Hardeep Singh Puri dedicated the two major projects to the nation at Western offshore on April 23. He was accompanied by chairman Alka Mittal, Director (T&FS) O P Singh and Director (Offshore) Pankaj Kumar.

Guyana’s government has granted permission for American supermajor ExxonMobil to develop a fourth offshore oil and gas field, and the company said on Monday it has made a final investment decision on the US$10-billion project aimed at producing up to 250,000 barrels per day.

Britain will be forced to import almost all its gas and most of its oil from overseas suppliers unless billions of pounds are invested in new North Sea exploration and production facilities, according to a stark report from Offshore Energies UK.

Tie-up will also see UK oil major will establish a local offshore wind development team in Tokyo

TotalEnergies has made a discovery of light oil with associated gas in the offshore Orange Basin in Namibia following the drilling of the Venus 1-X well in block 2913B, Petroleum Exploration Licence 56 (PEL56).

The taxation regime for gas production in Romania has become even more uncompetitive, significantly above the European average. This puts pressure on investments in Romania, endangering the supply [of local consumers] from domestic natural gas production.

Abu Dhabi's state-owned oil and gas company announced Thursday the discovery of between 1.5 to 2 trillion standard cubic feet of gas in an offshore area located in the emirates's northwest.

"The sale of offshore oil and gas leases on more than 80 million acres in the Gulf of Mexico was canceled by a U.S. judge who ordered regulators to take a harder look at the impact on climate change. U.S. District Judge Rudolph Contreras in Washington, D.C., vacated the lease sale in a 67-page decision, issued Thursday.

OVL had registered a major gas discovery in 2019 in its deep offshore block BM-SEAL-4, Brazil, located in the Sergipe Alagoas Basin.

A Petronas-led joint venture is analysing the results of the Bacalar-1 offshore exploration well in Mexico. The Malaysian national oil and gas giant has a 60% operated interest in Block 12, with Indonesia's Medco Energi and Thailand's PTT Exploration and Production on 20% each. Medco said in its latest exploration update that post-drill analysis was under way as part of the well evaluation process. Bacalar-1, which is understood to have spudded in August 2021, has so far cost US$52.2 million, added Medco. Petronas had a one-well contract with US-based offshore rig owner Pacific Drilling to use the drillship Pacific Khamsin for an exploration programme in Mexico starting in the third quarter last year.

South Korea shipyard says this is the first time it has won offshore orders for two years in a row since 2014

As U.S. oil companies show a new brand of fiscal discipline even as oil prices continue to climb, oil companies spent nearly $192 million on drilling rights in the Gulf of Mexico on Wednesday, according to a press release from the U.S. Department of the Interior’s Bureau of Ocean Energy Management.

Now may be the perfect time to buy shares in green energy giant Ørsted, analysts at Swiss bank UBS said on Wednesday, with winds of change picking up even as the stock has tumbled more than 30% in 2021.Pressure on the renewables sector since February, amid a dampening of market sentiment on clean energy and other growth stocks, has recently depressed shares in Ørsted ORSTED.

Iberdrola and Vestas have signed a contract to supply 50 units of the offshore wind turbine V174-9.5 MW for the Baltic Eagle project being developed off the island of Rügen, in German waters of the Baltic Sea. Both parties have also signed a contract for Service and Maintenance of the new turbines. With 476.25 MW installed capacity and spanning a 40 km2 area.

ADNOC announced the award of a $744 million (AED2.73 billion) contract for the full field development of the Belbazem Offshore Block, underscoring its drive to unlock and maximize value from all of Abu Dhabi's fields as it expands its oil production capacity to 5 million barrels per day by 2030. Located 120 kilometers northwest of Abu Dhabi city, the Belbazem Block consists of three so-called marginal offshore fields; Belbazem, Umm Al Salsal, and Umm Al Dholou.