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Norway continues to develop its North Sea oil and gas assets and on Friday, Neptune Energy, a leading independent international oil and gas exploration and production company, announced that drilling had commenced on the Calypso exploration well in the Norwegian Sea. The exploration well, 6407/8-8 S, is being drilled by the Deepsea Yantai, a semi-submersible rig, owned by CIMC and… Read More
In a pilot project designed to support the decarbonization of the offshore oil and gas industry, ConocoPhillips China and Chinese Energy company CNOOC will develop wind turbines to power the Penglai Oilfield, China’s largest offshore oil and gas production base. Located in Bohai Bay, in Northeast China, the field has been in production for 20… Read More
With global plans for offshore wind energy development accelerating, investors continue to look for new opportunities to participate in the market. In the latest development, a U.S. private investment firm, Sandbrook Capital, has acquired a majority stake in Norway’s Havfram, a recently launched offshore wind services company. The Norwegian company, which is transitioning from its… Read More
An alternative investment fund based in Cyprus is the latest to make a play for a segment of the emerging offshore wind services industry. Pelagic Partners, which is one of Cyprus’ emerging managers in other segments of commercial shipping announced the launch of a new Pelagic Wind Fund with the order for up to six… Read More
The Interior Department has just tapped Texas and Louisiana for offshore wind development, which at first glance seems like an exercise in futility. All things being equal, policy makers in the two “red” states would be expected to slow-walk the offshore lease process. However, the era of hand sitting may be over. States without fossil… Read More
Spanish regulators have given German conglomerate Siemens Energy the green light to buy up all outstanding shares of Siemens Gamesa Renewable Energy (SGRE), its majority-owned wind turbine manufacturing affiliate. At the end of the buyback period, SGRE will be delisted. Siemens Energy owns 67 percent of SGRE, and it will buy back the remaining publicly-held… Read More
Soaring inflation is not just a problem for consumers. It appears to be taking some of the wind out of the sails of the budding U.S. offshore wind industry, despite a major package of financial incentives just passed by Congress. Last week, Avangrid’s Commonwealth Wind project – a 1,200 MW installation off the coast of… Read More
Offshore cable installation commenced this week for Vineyard Wind which is billed as the first commercial-scale offshore wind farm in the United States. The company used the launch as an opportunity to highlight its work with the U.S. merchant marine while attempting to put to rest a controversy over a foreign-flagged tug spotted by Offshore… Read More
Rotterdam, the Netherlands, 3 November 2022 – Four oyster tables – structures made of concrete and other material on which live oysters are placed – have been installed at Luchterduinen wind farm. By placing the oyster tables there, the Rich North Sea programme, energy company Eneco and marine contractor Van Oord are working to restore… Read More
RICHMOND — Dominion Energy and groups advocating for ratepayers announced a settlement agreement Friday on who will bear responsibility for any increased costs associated with the Coastal Virginia Offshore Wind project. The agreement, which was reached between Dominion Energy, the Office of the Attorney General, Walmart, the Sierra Club and environmental nonprofit Appalachian Voices, protects ratepayers… Read More
Houston-headquartered offshore services giant Tidewater Inc. (NYSE:TDW) has released third quarter results that see it report positive net income for the first quarterly period since 2017. “Our third quarter performance reinforces our previous commentary that the offshore vessel industry had reached an inflection point,” said Tidewater President and CEO Quintin Kneen. “Revenue improved by 17% sequentially,… Read More
In the next decade, $1 trillion is set to flow into offshore wind. Everyone – from legacy energy providers to Big Oil – is making moves in this space. Despite being the global leader, the European offshore wind industry is still in its infancy and the largest opportunities lie ahead. In 2021, offshore wind supplied… Read More
The Carteret County Beach Commission, which advises the county shore protection office, received a briefing Monday on Kitty Hawk Wind, a major wind energy project that could impact the county in the future, in ways both positive and unknown. Megan Higgins of Avangrid Renewables, a major player in the wind energy industry, spoke to the… Read More
The SX 175 design offshore wind service operation vessel (SOV) Windea Leibniz is back at Norway’s Ulstein Verft for an upgrade. After installation of an adjustable pedestal for the gangway, and a 50% increase in single cabins for charterers, the vessel will be ready for assignments in the Baltic Sea as well as the North Sea, and… Read More
Norway’s Amon Maritime, which seeks to become the world’s first carbon-free shipping company, announced plans to expand its efforts with ammonia as a maritime fuel to launch the first platform supply vessels that can operate carbon-free. The new fleet which expects to launch by 2025 is designed to meet Norwegian regulations for the oil and… Read More