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State regulators on Friday approved an application from Dominion Energy Virginia to build an enormous offshore wind farm off the coast of Virginia Beach and recover the cost from ratepayers. No parties to the monthslong proceeding had opposed the approval of the project, which will help the utility boost the proportion of its generation that… Read More
Listed offshore and marine player Kim Heng posted its first set of positive results since 2016, thanks to an improving operating environment, gains from sale of assets and higher government grants. The company reported on Monday (Aug 8) a net profit of $5.07 million for the six months to June, reversing a net loss of… Read More
EMAR Offshore Services BV, the independent maritime services company based in Raamsdonksveer, the Netherlands, has bought two Damen Fast Crew Suppliers (FCS) 2206. With both vessels already in stock one, named E-Six, has already begun operations in Angola supporting the local oil and gas industry, and will be joined by E-Seven shortly. The 22-metre Damen FCS 2206 is a… Read More
Acorn International, a worldwide environmental and risk management consultancy with offices in Boston and Houston, today announced it was selected, to perform an Environmental Impact Assessment (EIA) and lead the public consultation program for the Uaru Project, the fifth offshore development project in Guyana of Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil…. Read More
Houston-based Tidewater Inc. (NYSE: TDW), owner and operators of the world’s largest fleet of offshore support vessels, says this year has marked an inflection point for the industry as key metrics point to better times ahead. Tidewater this week announced its second quarter and first half financials showing revenue at $163.4 million and $269.2 million, respectively, compared… Read More
Uncrewed offshore survey and inspection company Nauticus Robotics has reached an agreement with Shell on a program to develop and mature its systems for inspecting subsea infrastructure. Working with inspection tooling service providers, Shell and Nauticus will work on operational qualification for Nauticus’ Aquanaut and Hydronaut autonomous platforms. Nauticus has ordered an initial production run… Read More
On Sunday, Senate Democrats passed a large-scale budget reconciliation package on a party-line vote, enacting many (but far from all) of the Biden administration’s climate policy priorities. The bill – which was recently rebranded as the Inflation Reduction Act – represents a compromise between the party’s leadership and Senator Joe Manchin III (D-WV), who negotiated reductions… Read More
The federal Bureau of Ocean Energy Management extended the deadline for public comment on the environmental impacts of an offshore wind project after facing complaints 45 days was not long enough to review the 1,408-page impact statement. Some Jersey Shore residents, environmentalists and politicians pushed the bureau to extend the timeline for public input on… Read More
The world’s first subsidy-free offshore wind farm, the 1.5GW Hollandse Kust Zuid located off the coast of the Netherlands, has begun generating electricity and feeding it into the Dutch electricity grid. Swedish power company Vattenfall won the right to build all four allotments in the Hollandse Kust Zuid (HKZ) offshore wind zone in 2018 and… Read More
The State Corporation Commission (SCC), which regulates public utilities, recently approved a new Dominion Energy-backed $9.8 billion offshore wind farm, the Coastal Virginia Offshore Wind Project (CVOW), 27 miles off the coast of Virginia Beach. Unsurprisingly, Virginia ratepayers will pay more to “transition” away from fossil fuels as stipulated by the 2020 Virginia Clean Economy Act—Virginia’s “Green New Deal”… Read More
Longroad Energy Holdings, LLC (“Longroad”) announced today a $500 million equity investment by MEAG, acting as asset management arm for entities of Munich Re, alongside two of the company’s existing investors, the NZ Super Fund and Infratil, a listed entity managed by Morrison & Co. The investment will support Longroad’s strategic shift from a primarily “develop to sell” business… Read More
Top offshore drilling company Transocean beat earnings predictions by 25 percent in the second quarter, another sign that the offshore market is heating up after years of contraction and consolidation. The $100-plus price of oil is certainly helping, according to CEO Jeremy Thigpen. “While we have experienced volatility, commodity prices have remained within a range… Read More
Keppel Offshore & Marine Ltd’s wholly-owned subsidiaries, Keppel AmFELS, Inc., in Brownsville, Texas, and Keppel Shipyard Ltd, in Singapore, have been awarded contracts worth around SGD 75 million (about US$55 million) for the refurbishment and completion of two floating production units (FPU). The Keppel AmFELS contract is with Salamanca FPS Infra, LLC for the refurbishment… Read More
State lawmakers are backing legislation in Congress to increase the state’s share of oil and gas revenues from the Gulf of Mexico and to create similar revenues from wind energy operations. Sen. Bill Cassidy is promoting the Reinvesting In Shoreline Economies and Ecosystems Act with Rhode Island Sen. Sheldon Whitehouse that would remove a $375 million per… Read More
The consortium scope covers the project management, engineering, and installation of approximately 190 kilometres of natural gas pipeline in water depths up to 1,400 metres, including crossing the seawall onshore. The pipeline runs from the Liza field in Guyana’s offshore Stabroek Oil and Gas Block to an onshore natural gas fired powerplant west of the… Read More