Subsea power distribution set to move oil and gas production facilities on the seafloorSubsea power distribution down to 3,000 meters depth will soon be a reality. This summer, a full-scale prototype will be running a 3,000-hour test. After that…
Norwegian energy giant Equinor has received the green light to build a 200-MW floating offshore wind farm (OWF) off the coast of the Canary Islands.According to local media report, the energy major planning to invest around €860M to the OWF off Spain's Gran Canaria island…
Global offshore wind power market size will grow by over USD 17 billion during 2019-2023, at a CAGR close to 18%, said Technavio report.Due to rapid urbanization and industrialization across the world, there has been significant growth in the global demand for electricity…
Whatever its investments in wind, Equinor on Monday received a much anticipated greenlight to drill for oil in a mature quadrant of the North Sea, where success with the drill bit could again change field economics for the giant Johan Sverdrup field — and other…
Nigeria’s upstream regulatory hiccups continue to take toll on planned offshore exploration and production schedules as some private investors are stuck with their work programs for lack of clarity on key upstream mergers and acquisition procedures…
Beach Energy has awarded Baker Hughes, a GE company, a contract to supply subsea production systems for its Victorian Otway Basin brownfield development project located in offshore Victoria, Australia.The Otway Basin is approximately 500 kilometers…
The United States is deeply concerned by Turkey’s announced intentions to begin offshore drilling operations in an area claimed by Cyprus as its exclusive economic zone, a State Department spokesperson said on Sunday.Turkish media on Saturday…
The international midstream services provider to the offshore oil production industry Teekay Offshore Partners announced that it has secured a new $100 million revolving credit facility for the Piranema Spirit, Voyageur Spirit, and Petrojarl Varg FPSO units…
Much has been made of an expected recovery for offshore. We share that optimism. We think there will be around 20 final investment decisions (FID) for floating production, storage and offloading units (FPSO), nearly 60 subsea projects and a total of 330 trees going ahead this year…
Equipment that will be used to monitor the interaction between tidal turbines and marine mammals in the Pentland Firth has been put to the test in Aberdeen.The linear actuators that underwent hydrostatic testing at the Balmoral Subsea Test Center…
Santos announced Tuesday it has confirmed significant gas resource in the Corvus-2 appraisal in the Carnarvon Basin, offshore Western Australia.Corvus-2 is located in 63 meters water depth, approximately 90 kilometers northwest of Dampier in Commonwealth waters within petroleum permit WA-45-R…
New World Supply, where S.D. Standard Drilling (SDSD) has an ownership of 26.2 percent, has completed a sale of its remaining four medium sized platform supply vessels (PSVs).The NWS vessels, 'World Diamond', 'World Peridot', 'World Pearl' and 'World Opal…
The Estonian government has refused to start the permitting process for the building of a $1.9 billion, 600-MW offshore wind farm off the west coast of the island of Saaremaa, citing national security concerns.The Estonian developer Saare Wind…
China Energy Investment Corporation (CHN Energy) and Électricité de France Group (EDF Group) have signed a deal to jointly develop an offshore wind power project in China’s eastern Jiangsu province, Chinese official media reported.As per the agreement…
In times of oil price volatility, operators can take certain actions to reorient their businesses, generate sustainable value and reignite investor interest.According to the “New horizons: Strategic choices for upstream oil and gas companies…
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