Poland's largest utility Polska Grupa Energetyczna SA (PGE) will begin talks with Denmark's Orsted about the sale of a 50% stake in two offshore wind farm (OWF) projects with combined capacity of 2.5 GW the company is developing in the Baltic Sea.According to Danish offshore wind major, the subject of discussions will be a sale of 50% of the shares in two special-purpose vehicles: Elektrownia Wiatrowa Baltica-3…
North Sea oil producer Chrysaor Norge has exercised an option to buy stakes in OKEA’s Grevling and Storskrymten discoveries offshore Norway.The Norwegean oil production company OKEA confirmed the sale of 20% of the Company's participating interest in Grevling (PL 038D) and 18…
Danish wind developer Ørsted A/S will enter into exclusive negotiations for Public Service Enterprise Group (PSEG) to potentially acquire a 25% interest in the proposed 1,100-MW Ocean Wind project.Subject to negotiations toward a joint venture agreement…
Macquarie Infrastructure and Real Assets (MIRA) has agreed to lift its shareholding in the 576-MW Gwynt y Mor offshore wind farm in the UK by purchasing an additional 10% stake for an undisclosed sum.MIRA has managed a 10 per cent stake in Gwynt…
Japanese energy group JERA, , a joint venture between Tokyo Electric Power and Chubu Electric Power, has agreed to acquire a 49% stake in the 376MW Formosa 2 project being developed off the west coast of Taiwan.Completion of the transaction is subject to regulatory approvals…
Israeli oil and gas company Delek has received an offer from an unnamed investor for a potential investment of up to $250 million into its North Sea focused subsidiary Ithaca Energy.'Delek Group, received a signed offer from an international…
Ørsted, the largest energy company in Denmark, has acquired a 22.5% share in Pict Offshore, the Scottish developer of an innovative technology set to transform the way technicians access offshore wind turbines.The Get Up Safe (GUS) system, developed in partnership between Ørsted and Pict Offshore…
The final investment decisions (FIDs) could be reached on as many as 38 new UK offshore projects over the next three years, representing $22.6 billion in greenfield expenditure if UK prospective resources live up to expectations.Rystad Energy…
Spanish public multinational electric utility company Iberdrola has entered into an agreement with Green Investment Group (GIG), part of Macquarie Group, to sell a 40% share in the East Anglia One offshore wind farm.The group will continue to be the majority shareholder…
Power companies including Ørsted, Vattenfall, Innogy, SSE and Scottish Power and financial investors such as infrastructure and pension funds are active in UK offshore wind power, said Deloitte.Japan, China and other countries in Asia are also showing increasing interest in the market…
Canadian-Norwegian battery maker Corvus Energy announced that it has finalized an investment deal with Shell Ventures.The investment is a step towards Shell’s ambition to decrease the carbon footprint of the energy products they sell by around 20% by 2035 and by around 50% by 2050…
Rystad Energy sees investments both in offshore and onshore exploration drilling doubling in the next five years, compared to the last five years. Conventional onshore demand will be driven by Asia, Africa and South America.Europe on the other hand…
North Sea operators and contractors are investing across people, R&D, technology and new markets to support continued growth, said a new report.The 30th Oil and Gas survey, conducted by Aberdeen & Grampian Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG UK…
German energy group Uniper has concluded an agreement with Australian fund First State Investments to divest its stake in OLT Offshore liquefied natural gas (LNG) Toscana.First State Investments will acquire Uniper’s entire OLT stake. The purchase price for Uniper’s stake amounts to approx…
The state of Connecticut has reached a harbor development agreement and announced the start of a $93 million investment at State Pier, the beginning of what state officials foresee as the transformation of an underutilized port into a hub for the offshore wind industry…
This issue of Offshore Engineer is dedicated to Exploration Outlook
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