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Offshore sector consultancy Westwood Global Energy predicts that there will be good times to come for offshore oil and gas development over the next five years. 2022 is looking like a great year for offshore development, though inflation and supply-chain impacts have tempered expectations somewhat. Offshore EPC contracting activity tripled year-on-year in the first half… Read More
Dutch floater specialist SBM Offshore has completed a $1.75bn project financing of One Guyana floating production storage and offloading (FPSO) vessel set for ExxonMobil’s Yellowtail development located in the Stabroek block offshore Guyana. The project financing was secured by a consortium of 15 international banks and SBM Offshore said it expects to draw the loan in full,… Read More
PALATKA, Fla., July 21, 2022 /PRNewswire/ — St. Johns Ship Building hosted a keel laying ceremony for the first Incat Crowther 30 Crew Transport Vessel (CTV) built in compliance with Jones Act regulations in the United States. St. Johns Ship Building was recently acquired by Americraft Marine Group, a maritime subsidiary of the U.S.-headquartered privately-owned business… Read More
Today, Ørsted has entered into an agreement with Ostwind, a German developer, owner, and operator of onshore wind and solar PV projects in Germany and France, to acquire a 100 % equity interest in OSTWIND Erneuerbare Energien GmbH, OSTWINDpark Rotmainquelle GmbH & Co. KG, OSTWIND International S.A.S., and OSTWIND Engineering S.A.S. from OSTWIND AG, a… Read More
Last month some 50 south Louisianans gathered in this small, New England port town, preparing for a breezy day trip through the Atlantic waters. The mood was light and there was an air of excitement — with some jokes about the “chilly” 70-degree weather compared to the triple digits back home as they ferried toward the… Read More
Eastern Shipbuilding Group Inc. (ESG), Panama City, Fla., hosted the keel authentication ceremony for the U.S. Coast Guard’s future Offshore Patrol Cutter (OPC), USCGC Ingham (WMSM-917) on July 15. The vessel is the third in the new Heritage Class being built at Eastern’s Nelson Street shipyard. The keel authentication, also known as keel laying, represents the ceremonial start… Read More
In a unique concept, German energy giant RWE is exploring integrating floating solar technology into offshore wind farms to create more efficient use of ocean space for energy generation and an approach that could provide locations with lower wind speeds with a means to develop renewable energy. Collaborating with the Dutch-Norwegian start-up solar energy company… Read More
Venterra Group has acquired marine environmental consultancy INSPIRE Environmental, marking the former’s entry into the US offshore services market. INSPIRE was founded in 2015 by Drew Carey and Joe Germano and works to support clients in the offshore wind, ports and marine construction sectors by assessing the health of the seabed and the resources that… Read More
Sembcorp Marine Offshore Platforms has won an engineering, procurement, construction and installation (EPCI) contract for a gas topsides project offshore Australia. The unnamed client is said to be a major energy company. Sembcorp expects work on the topsides to take four years to complete. 07.18.2022 Source
US-based engineering and construction firm Fluor has received a contract from New Fortress Energy (NFE) for the engineering, procurement and fabrication management of the Fast LNG II export facility in the US Gulf of Mexico. The project will involve building a gas treating and liquefaction plant, which is planned to be placed on fixed offshore platforms. The… Read More
“Sadly, we have taken the ocean for granted and today we face what I would call an ocean emergency,” UN secretary-general António Guterres said at the opening of the UN Ocean Conference in Lisbon on 27 June 2022. “We must turn the tide.” Ocean heating and acidification, sea-level rise and greenhouse gas concentrations all hit… Read More
The Bureau of Ocean Energy Management (BOEM) will conduct a regional environmental review of six lease areas offshore New York and New Jersey in the New York Bight. Leases for these six areas were awarded through BOEM’s February 2022 auction that brought in over $4.3 billion, a record amount for any U.S. offshore renewable or… Read More
For the second time in 18 months, offshore drilling contractor Borr Drilling is reporting that it has reached terms with creditors to refinance the company. The heavily-leveraged company announce that agreements in principle have been reached with most of the secured creditors to extend the majority of secured debt to 2025. Borr has been saddled… Read More
As global industry wrestles with the challenges of delivering the energy transition, significant attention has been focused on the production of cleaner energy from renewable sources to fuel sweeping decarbonization efforts. However, if any net zero or global warming targets are to be met, we also need to factor in how to make current practices… Read More
Maersk Supply Service is due to install the wind turbines at the Beacon Wind farm off the U.S. East Coast, for a joint venture between Equinor and bp. The installation of Beacon Wind is expected to start in 2028. In March 2022, Maersk Supply Service ordered a newbuild Wind Installation Vessel (WIV), the first project… Read More