rsted and its partners have secured funding for the Westkste 100 renewable hydrogen project in Germany.

The partners received funding confirmation from the German Federal Ministry of Economic Affairs and Energy as the first large-scale hydrogen project in Germany within the Reallabor (real-world laboratory) framework.

The Westkste 100 project aims to research and develop an approach to produce green hydrogen from offshore wind energy and to use the resulting waste heat and oxygen. The purpose of the project is to make industrial processes, aviation, construction, and heating more sustainable in the future.

Westkste 100 is our third hydrogen project and the first one in Germany found eligible for public funding, and were very excited about the prospects of supporting heavy industries and heavy transport with clean alternatives based on renewable hydrogen, Martin Neubert, Executive Vice President and CEO, rsted Offshore, said.

The project has a total budget of EUR 89 million. The approved funding for the project, starting on 1 August 2020, amounts to EUR 30 million.

A total of ten partners have joined forces to form the consortium: EDF Germany, Holcim Germany, OGE, rsted, Raffinerie Heide, Stadtwerke Heide, Thga, and thyssenkrupp Industrial Solutions, together with the Region Heide Development Agency and the Fachhochschule Westkste (West Coast University of Applied Sciences).

This project is unique because it uses offshore wind power for large-scale hydrogen production. Only offshore wind can provide such a reliable renewable source of green power for the electrolysis, Volker Malmen, Managing Director, rsted in Germany, said.

This requires that the expansion of renewables and offshore wind power is balanced with the increased demand for hydrogen production. We believe that renewable hydrogen is key to decarbonize industrial sectors. The Westkste 100 project is a cornerstone in our efforts to lead the way in renewable hydrogen as we are doing in offshore wind, to create a world that runs entirely on green energy.

Phase 1 Can Now Start

With the grant approval from the German Federal Ministry of Economic Affairs and Energy, the Westkste 100 project can now enter its first phase which includes a number of elements.

A newly founded joint venture, H2 Westkste GmbH, consisting of EDF Germany, rsted, and the Heide refinery, intends to build a 30-megawatt electrolyser.

This can produce green hydrogen from offshore wind energy and provide information on the operation, maintenance, control, and grid services of the plant.

Furthermore, pipeline transportation of hydrogen and the use of hydrogen in existing and new infrastructure around Heide will be tested.

The consortium will also initiate the work to develop the vision of a large-scale sector coupling including a 700 MW electrolyser system into a concrete project. This will require a significant R&D and engineering effort, the partners said.

See original here:

German Offshore Wind to Hydrogen Project Takes Off - Offshore WIND

Despite its rich heritage of engineering ingenuity and entrepreneurial spirit, the oil and gas industry has been traditionally slow to adopt new technology. However, following the protracted downturn in recent years, this changed dramatically with companies much more open to collaborate on new technology and keen to embrace digital innovation in a bid to reduce costs and deliver ever-greater efficiencies.

The drive towards the energy transition and the quest to achieve net-zero operations has fuelled this renewed appetite for digital and data-driven applications. Moreover, the coronavirus-imposed lockdown has forced the whole industry to work remotely, further accelerating the use of data-driven, digital platforms and solutions.

This fast-changing landscape is providing fertile ground for Scotlands data and AI innovation centre, The Data Lab. With a mission to help Scotland maximise value from data, we are on-hand to help the energy industry innovate through data.

Every organisation generates and gathers data; its what you do with it that can be truly transformational. Collaboration is the most effective way to break new ground using data science. But applying data science to solve energy-related solutions can be challenging. Working collaboratively with energy companies, we can provide the cutting-edge skills and in-depth knowledge to make the most of their data. Leveraging our network, we can match businesses with the right academic or specialist partners to deliver multi-party collaborations, to scope and manage a specific project, wherever a company is in its data journey, and to help access external sources of funding.

There are some great examples of project-specific data projects in the energy industry, whether its virtual inspections or detecting equipment malfunctions through to using data to drive efficiencies in bed-space offshore. However, the business transformation models which can be achieved across an entire organisation with a joined-up approach, rather than just a project by project basis, have yet to be fully realised. And this is where The Data Lab can come in. We can work with energy companies on two levels: firstly through our leadership training which equips leaders with the skills they need to devise a data strategy and secondly through our new advisory business service, TORCH, to then accelerate data-driven innovation and change.

With many new data science technologies less than five years old, companies are often unaware of the latest trends and developments. Our leadership training interactive workshops take people beyond the hype surrounding data and AI and demonstrate how companies can drive real value across their business through better use of data. Armed with this know-how, business leaders can then develop and de-risk data strategies which are wholly applicable to their own business.

TORCH enables those who have developed a data strategy to overcome the challenges faced when embarking upon new data projects. By investing effort into the early stages of a data project, the quality of the outcomes can be improved, and risks reduced, of particular importance in the later and more expensive phases of any data journey.

Navigating the complex data technology and services marketplace can be confusing and time-consuming. In response to this, our experts support clients by acting as a critical, unbiased friend, partnering organisations with a network of Scottish-based companies that have proven expertise in delivering solutions.

It was recently reported that dozens of projects run by the Oil and Gas Technology Centre (OGTC) are facing delays or cancellation due to the Covid-19 pandemic. Nearly half of the 150 live schemes underway from the Aberdeen technology accelerator have been affected by the virus, as operators who help test them defer non-essential spending. Those focussed on exploration and helping to produce more oil and gas, particularly those requiring offshore trials, have been hit hardest. However, digital projects like robotics, wearable technology, and predictive modelling, helping to reduce costs and offshore manning levels, are still progressing. The Data Lab is keen to support companies in taking these types of projects forward, whatever their size and wherever they are on their data journey

The rest is here:

Digital projects to reduce costs and offshore manning levels are progressing - News for the Oil and Gas Sector - Energy Voice

North East Englands offshore wind cluster, Energi Coast, is starting a project which aims to produce a comprehensive report of the regions supply chain capabilities in the offshore wind industry.

The supply chain mapping project will identify the range of capabilities available throughout North East England to support offshore wind developers and contractors identifying locations with extensive supply chain expertise to base onshore operations, or to tap into the collaborative capabilities of North East England companies, Energi Coast said.

In addition, the project aims to identify innovations being developed and where transference of skills from other sectors can be utilised for the future of the offshore wind industry, as well as pinpointing any gaps that might exist in the regions capabilities.

The project will be managed by energy sector business development organisation NOF working with a dedicated task group, which includes Energi Coast Chairman James Ritchie, and representatives from developers Equinor, RWE and SSE Renewables, alongside GE Renewable Energy and ORE Catapult.

North East England has become a key region for the offshore wind industry both in terms of developments such as the 3.6 GW Dogger Bank Wind Farm and the RWE Sofia Offshore Wind Farm, and its supply chain cluster.

We welcome this initiative, it presents a good opportunity to demonstrate what the region can deliver to the offshore wind industry, Halfdan Brustad, Vice President for Dogger Bank Wind Farm project, said.

This project will assist us in navigating the regions broad range of capabilities, which is deeply needed for us as new entrants. The Dogger Bank projects will be located at Port of Tyne, and this mapping will give us a valuable insight into the capabilities and innovation potential for our industry.

Sofia Offshore Wind Farm Project Director David Few said that the 1.4 GW project has ambitions for more than 50 per cent UK content.

Few has encouraged the North East England suppliers to engage with the supply chain mapping work which would give as broad a picture of the region as possible and understand what goods and services can be sourced from the area.

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Energi Coast to Map North East England Supply Chain - Offshore WIND

Oil giant Shell and Dutch utility Eneco have won a tender to build a super-hybrid offshore wind farm in the Netherlands. It will consist of two sites located 11.5 miles (18.5 km) off the west coast, near the town of Egmond aan Zee.

The Dutch Ministry of Economic Affairs and Climate Policy selected the Shell/Eneco consortium, CrossWind, to build the Hollandse Kust (noord) project. CrossWind will pair the offshore wind farms with floating solar facilities and short-duration batteries. They will also generate green hydrogen via an electrolyzer, according to GreenTech Media.

Hollandse Kust (noord) is expected to be operational in 2023 with an installed capacity of 759 MW, generating at least 3.3 TWh per year.

Maarten Wetselaar, director of Shell Integrated Gas and New Energies, said:

Offshore wind will play a pivotal role in the worldwide energy transition. It will also be another important next step in our ambition to become a net-zero emissions energy business by 2050 or sooner, in step with society.

The Hollandse Kust (noord) is one of three offshore wind areas the Dutch government chose to develop by 2023. The Netherlands intends to reach around 11GW of installed offshore wind capacity by 2030.

Shell wants to reach net zero by 2050 by selling more green energy to reduce its carbon emissions, as Electrek reported in April. It wants to build a green hydrogen plant in Rotterdam, and the Hollandse Kust (noord) offshore wind project is part of that plan.

It also wants to use Hollandse Kust (noord) to power a 200-megawatt electrolyzer for one of its ownrefineries. Thats part of its larger plan to develop anumber of green hydrogen plantson the Dutch coast to feed multiple refineries this is its transition that Wetselaar refers to above.

And dont underestimate the power of money or lack thereof. Shells earnings report today was dire: The companys profits plummeted 82% in the second quarter. Yet its CEO, Ben van Buerden, said, I am very pleased that we have weathered what was probably the most difficult quarter in living memory very well.

So if it wants to survive, it must reposition itself quickly, and this is what its doing here with this new offshore wind project and plans for green hydrogen. But a truly credible transition plan from Shell would mean that it stopped drilling for oil and gas entirely.

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This hybrid offshore wind farm will be a green energy supergroup - Electrek.co

A scarecrow system designed to prevent the costly issue of seabird droppings on offshore wind farms has proved successful in a year-long trial with Galloper Wind Farm, Scaretech Global, the developer of bird deterrents said.

Per Scaretech, Seabird poo or guano is a huge problem for the global offshore wind industry as it poses a serious health risk, "due to its highly carcinogenic qualities," and is extremely expensive and unpleasant to remove.

A Scaretech system was installed on the substation at Galloper Offshore Wind Farm, 27km off the Suffolk Coast, in July 2019 to address the guano problem.

According to the company, the scarecrow has reduced guano on the structure from approximately 50-60% coverage "to virtually nothing."

Galloper Offshore Wind Farm, which is operated by RWE Renewables, comprises 56 wind turbines and powers more than 380,000 UK homes.

Kieron Drew, Interim Operations & Maintenance Manager at Galloper, said: There is an abundance of seabass around our Galloper site, which attracts large numbers of seabirds. These in turn generate significant quantities of guano, which poses an unpleasant health and safety hazard for us.

We were looking for a solution and, after considering more expensive options, decided to trial Scaretech. This is a new innovation for the wind industry and it certainly worked for us. Once we installed the Scaretch device, we saw dramatic reductions in the amount of guano. In fact, the problem is now almost non-existent," Drew said.

Scaretech is extremely robust, maintenance-free and solar-powered so after installation, we were able to just forget about it. Its been a fantastic asset and has saved us a considerable amount in clean-up costs and technician time.

This is the second time Scaretechs guano solution has been successfully trialed, with an initial four-week pilot also showing strong results, Scarerech said.

Rent-a-Scarecrow

The Scaretech device is based on a traditional scarecrow concept - used successfully for centuries to keep birds off crops - and adapted for the harsh offshore environment of a wind farm or oil platform. Designed to look like an offshore wind worker in full protective clothing, Scaretech is manufactured from steel, flexible foam, and PVC and powered by solar panels. It is fixed to the offshore structure so it can operate in extreme weather conditions.

As well as simulating a human, Scaretech emits sporadic loud noises and high-intensity strobe lights which deters seabirds from landing on the structure.

Terry Christie one of the developers of the ScareTech scarecrow, said: This trial with Galloper wind farm is a game-changer for us and shows once and for all that Scaretech is an extremely effective, long-standing solution for the guano problem.

We knew of the systems potential from our previous trial but this data now proves that just one Scaretech can protect an area as large as a substation or helideck from guano for 12 months and longer. Over time, the birds never become accustomed to the device and simply stay away from it.

This is fantastic news for the offshore industry. Any health and safety matrix highlights the need to eliminate hazards if at all possible, and Scaretech certainly does this for guano.

Weve taken the simple bird deterrent of a scarecrow- tested over hundreds of years - and updated it with the latest, state-of-the-art technology to enable it to withstand the extreme weather conditions offshore. Scaretech works beyond everyones expectations and we now plan to launch a low-cost monthly rental option to enable the offshore sector to benefit from this proven solution.

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Scarecrow Saves Offshore Wind Farm Substation from 'Carcinogenic' - Offshore Engineer

The drillship Stena Carron has completed appraisal drilling at Yellowtail-2 offshore Guyana.

(Courtesy Stena Drilling)

Offshore staff

NEW YORK Two contracted drillships have resumed operations on the Stabroek block offshore Guyana, according to partner Hess.

Operator ExxonMobil had temporarily halted operations due to COVID-19 related travel restrictions in Guyana.

Recently the Stena Carron completed appraisal drilling at Yellowtail-2, 1 mi (1.6 km) southeast of the Yellowtail-1 discovery.

The well identified two additional good-quality reservoirs, one adjacent to, and the other below the Yellowtail field. The partners are assessing this additional resource to help support a possible future development.

Discoveries offshore Guyana.(Map courtesy Hess)

Earlier this month Noble Don Taylor spudded the Redtail exploration well, 1.25 mi (2 mi) northwest of Yellowtail-1. Two more drillships, the Noble Bob Douglas and Noble Tom Madden, are drilling and completing the Liza Phase 1 and Phase 2 development wells elsewhere on the block.

07/29/2020

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Drilling reveals further resources at Yellowtail offshore Guyana - Offshore Oil and Gas Magazine

(Bloomberg) -- Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.

The Chapter 11 filing in Texas would eliminate all of the companys bond borrowings by swapping debt for equity, the company said in a statement. Noteholders agreed to invest $200 million of new capital through second-lien notes, and Noble has lined up a $675 million secured revolving credit facility backed by current lenders including JPMorgan Chase & Co.

London-based Noble, one of the biggest owners of offshore rigs, failed to cope with a glut of floating drilling capacity that was a decade in the making, as exploration companies shifted focus to cheaper inland shale. The plunge in crude prices made any near-term recovery in offshore drilling even less probable.

Noble reported both assets and liabilities of $1 billion to $10 billion, according to the bankruptcy petition. It expects to emerge from Chapter 11 before the end of the year, and will continue operating while in bankruptcy, according to the statement.

Its filing adds to the more than 200bankruptciesby oilfield service companies dating from 2015, according to the law firm, Haynes and Boone LLP. Noble follows competitor Valaris Plc announcing Thursday that it may file for Chapter 11, while Diamond Offshore Drilling Inc. filed for bankruptcy in April.

The offshore-drilling business enjoyed the highest of highs when oil topped $100 a barrel earlier in the decade. Companies including BP Plc and Anadarko Petroleum Corp. could lease out an advanced ship for more than $600,000 a day. An army of boats and helicopters took workers and supplies out to these rigs, where meals often included steak and shrimp, and carved ice sculptures adorned lunch rooms.

Facing Uncertainty

Jeremy Thigpen, who runs the industrys biggest provider of deepwater rigs, Transocean Ltd., said this week hes not so sure that rivals who emerge from bankruptcy with less debt will have an advantage over his own company.

At least in the interim period, I think we have a decided advantage because were not facing that uncertainty and those distractions, Thigpen said. I doubt that they are going to come out with a lot of cash and as you well know, it takes a lot of cash to operate and maintain these assets and certainly a lot of cash to reactivate them.

Noble had spent years in litigation after it spun off a chunk of more than 40 of its rigs in 2014 into a new company called Paragon Offshore that later filed for bankruptcy. The legal fight was seen as an overhang on Nobles shares as it dragged on.

As far back as 2017, its dispute was expected to be settled in the range of $150 million to $250 million, according to Susquehanna. But due to Nobles more recent financial condition, Susquehanna said this month it should be a much lower range.

The case is Noble Drilling Holding LLC, 20-33825, U.S. Bankruptcy Court, Southern District of Texas (Houston).

--With assistance fromDawn McCartyandJoe Carroll.

To contact the reporters on this story:David WetheinHoustonatdwethe@bloomberg.net;Allison McNeelyinNew Yorkatamcneely@bloomberg.net

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Offshore Drilling Contractor Files Chapter 11 - Rigzone

by: Colin A. Young and Chris Van Buskirk, SHNS

FILE In this July 27, 2006 file photo, wind turbines stand clustered offshore in Dronten, the Netherlands. Officials with the U.S Bureau of Ocean Energy Management say that the first leases for turbines to be built offshore North and South Carolina could be issued next year. During a series of public hearings on the []

BOSTON (SHNS) The House registered its unanimous support Friday for requiring the executive branch and utility companies to procure even more offshore wind power, backing an amendment that would boost the states total authorization to 3,600 megawatts.

Weve heard from the developers from day one that they needed to hear that we were going to continue to authorize more and more offshore wind. And so thats what we do today, we authorize and we send the signal that Massachusetts is not standing down and that we will continue, House Speaker Pro Tempore Patricia Haddad said.

In an amendment package to its climate change bill, the House agreed to up the mandated amount of offshore wind power the state and utilities must contract for to 3,600 MW and also to shorten the maximum amount of time between procurements from 24 months to 18 months, Haddad said.

The amendment also requires that the secretary of housing and economic development review offshore wind proposals in addition to the Department of Energy Resources.

Massachusetts really isnt getting the jobs that other states are getting because we dont have an incentive in there we dont have any incentives other than the federal tax credit, Haddad said. So the secretary of economic development will be able to look at the procurements and make comments about which ones are a good deal, both by price and by what we get out of it for economic development.

Earlier this week, the Senate unanimously adopted an amendment to its economic development bill to direct DOER to procure another 2,800 MW of offshore wind power by 2035, which would bring the states total authorization to 6 gigawatts.

Neither newly-proposed level is final, and the House and Senate will likely settle on one figure after negotiating compromise versions of the economic development and climate bills.

Continued here:

House votes to increase offshore wind power purchasing - WWLP.com

Remote training and monitoring procedures enabled the successful installation of the liner hanger system, cementing products and tubular running services.

Courtesy Weatherford

Offshore staff

HOUSTON Weatherford International announced that it has successfully and remotely used a restricted crew to install a 16-in. liner hanger on an offshore platform in Sakhalin Island, Russia.

The company says that remote training and monitoring procedures enabled the successful installation of the liner hanger system, cementing products and tubular running services.

The operator objectives were to install and cement a 16-in. liner and hanger at an offshore platform that was locked down as a precaution to protect against COVID-19 viral exposure. The operator also requested remote guidance and technical support to ensure a trouble-free liner installation.

The COVID-19 lockdown restricted the number of personnel aboard the platform to reduce potential contamination risks.

The Weatherford liner team developed remote training and monitoring procedures to enable successful installation and testing of a 16-inch liner using a restricted crew that reported zero equipment malfunctions, said Fayaz Kamalov, Vice President, Russia, Weatherford.

Kamalov added that the Weatherford team provided remote guidance to ensure a trouble-free outcome for each step, including equipment rig-up, liner running, hanger installation, cementing, packer setting, pressure testing, and rig-down.

07/31/2020

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Weatherford remotely installs liner hanger on Russian offshore platform - Offshore Oil and Gas Magazine

Dropsafe, which specialises in dropped object (drops) prevention, has called for a more systematic approach to tackling drops throughout the offshore wind supply chain. This follows the publication of 2019 data by the G+ Global Offshore Wind Safety Organisation showing an overall rise in reported drops incidents in the sector.

Dropsafe maintains that, rather than focusing drops prevention exclusively on retroactive on-site mitigation strategies such as secondary securing, drops risks must be considered throughout the full lifecycle of a wind turbine fleet from design and manufacture of equipment to installation, operations and maintenance, and decommissioning.

The G+ 2019 incident data report, released in July, shows that in 2019 there were 92 drops incidents, representing an increase of 44% from 2018. This upward trend has been attributed to improved reporting but underlines the severity of the threat to offshore wind personnel, alongside the reputation and financial standing of businesses in the sector.

High potential (HiPo) incidents decreased compared to the previous year, with 38% of drops incidents classified as high potential in 2019 compared to 61% in 2018.

Dropsafe has drawn parallels to the experience of businesses in offshore oil and gas, which saw a comparable trend in drops incidents 20 years ago. The offshore drilling sector subsequently took decisive action to self-regulate on drops risks. Industry working group DROPS was formed to facilitate systematic action on drops prevention, leading to an advanced, supply chain wide culture of drops prevention.

In particular, while drops prevention technologies such as secondary securing, barriers, netting and tool tethering are vital, DROPS advocates a hierarchy of controls that starts with designing equipment and processes in such a way that risks are minimised before these systems need to be installed.

Allen Smith, DROPS Global Representative, added: Its encouraging to see these statistics being reported and analysed as they show that the wind industry is building a solid foundation in dropped object prevention. As we would expect, the highest proportion of incidents occurred during lifting operations followed by manual handling and routine maintenance.

One of the key things we advise is that dropped object prevention must be considered holistically, using a robust hierarchy of controls. For example, planning work schedules more effectively to minimise the number of lifts would have a big impact and would be a key line of defence.

Offshore wind sees a similar range of drops risks to offshore oil and gas. Vibrations from operation, corrosion from sea water and strong winds can cause components to come loose from their fittings and fall, potentially striking assets, vessels or personnel below. Technicians routinely work at height, carrying tools to raised areas.

With the height of turbines and the size of components continuing to grow, Dropsafe warns that the consequences of drops are scaling up proportionately. According to the G+ data, nearly half of drops occurred on wind turbines, raising the risk of asset damage which can lead to costly repairs. 8% of incidents did in fact cause asset damage.

Mike Rice, Commercial Director, Dropsafe, said: Effective Drops prevention needs to encompass the entire supply chain, and has both a mental and physical component. Using robustly engineered prevention systems on site is vital, but what we try to foster is a deeper understanding of the hazards from the bottom of an organisation to the top. The offshore wind sector has a major opportunity to take the initiative on drops by following the open and collaborative approach which has been so successful in oil and gas.

Read the article online at: https://www.energyglobal.com/wind/31072020/drops-incidents-rise-in-offshore-wind-industry/

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Drops incidents rise in offshore wind industry - Energy Global

The heavy lift vessel Alfa Lift is currently under construction at CMHIS shipyard in China.

(Courtesy OHT)

Offshore staff

OSLO, Norway OHT Alfa Lift AS has signed the contract for the transport and installation of foundations for the first phase of Dogger Bank offshore wind farm, Dogger Bank A.

The contract for the second phase, Dogger Bank B, is expected to follow in due course, the company said.

The project will be the monopile installation debut for OHTs newbuild vessel Alfa Lift which is currently under construction at CMHIS shipyard in China.

The Alfa Lift will transport the monopile foundations and transition pieces to the offshore site, more than 130 km (81 mi) off the northeast coast of England, and install them in water depths up to 35 m (115 ft), using the vessels 3,000-metric ton crane, mission equipment and smart deck handling system.

According to the company, the foundations will be amongst the largest ever used for offshore wind and are expected to be installed between 2022 and 2023.

Dogger Bank is being developed by SSE Renewables and Equinor, with first power expected in 2023. The contract is subject to the projects final investment decision.

07/31/2020

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Alfa Lift to debut at Dogger Bank A offshore the UK - Offshore Oil and Gas Magazine

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the offshore oil and gas seismic equipment and acquisitions market and it is poised to grow by USD 1.39 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

The market is concentrated, and the degree of concentration will accelerate during the forecast period. Arabian Geophysical and Surveying Co., Fugro NV, ION Geophysical Corp., Mitcham Industries Inc., PGS ASA, Polarcus Ltd., SAExploration Holdings Inc., SeaBird Exploration Plc, Shearwater GeoServices Holdings AS, and TGS-NOPEC Geophysical Co. ASA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The rise in deepwater and ultra-deepwater E&P projects has been instrumental in driving the growth of the market.

Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Segmentation

Offshore Oil and Gas Seismic Equipment and Acquisitions Market is segmented as below:

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41138

Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our offshore oil and gas seismic equipment and acquisitions market report covers the following areas:

This study identifies the increasing adoption of 4D seismic survey technology as one of the prime reasons driving the offshore oil and gas seismic equipment and acquisitions market growth during the next few years.

Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the offshore oil and gas seismic equipment and acquisitions market, including some of the vendors such as Arabian Geophysical and Surveying Co., Fugro NV, ION Geophysical Corp., Mitcham Industries Inc., PGS ASA, Polarcus Ltd., SAExploration Holdings Inc., SeaBird Exploration Plc, Shearwater GeoServices Holdings AS, and TGS-NOPEC Geophysical Co. ASA. Backed with competitive intelligence and benchmarking, our research reports on the offshore oil and gas seismic equipment and acquisitions market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Key Highlights

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY TECHNOLOGY

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

PART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

PART 14: APPENDIX

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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COVID-19 Impacts: Offshore Oil and Gas Seismic Equipment and Acquisitions Market Will Accelerate at a CAGR of over 7% Through 2020-2024 | Rise in...

The IRS stopped processing paper returns at the end of March to comply with coronavirus-related social distancing and stay-at-home guidelines; Rich Edson reports.

The IRS is launching a campaign this fall to audit U.S. companies that have overseas earnings and have not paid the taxes owed on that money.

A new compliance initiative announced by the IRSs Large Business and International Division earlier this month pertains to section 965 of the Revenue Code added by the 2017 tax reform law which requires U.S. shareholders to pay a transition tax on untaxed foreign earnings of certain specified foreign corporations as if those earnings had been repatriated to the United States.

The IRS stated on its website that it is working to alert potentially impacted taxpayers about the obligations and an official from the agency said on Wednesday that it expects to send thousands of letters starting in October.

IRS SPENT MILLIONS ON AUDITS THAT RETURNED NO REVENUE, REPORT FINDS

Shareholders can include individuals, S corporations, partnerships, estate, trusts, cooperatives and tax-exempt organizations. Accumulated post-1986 deferred foreign income may be subject to the tax.

CORONAVIRUS COULD CAUSE NEW YORK TO RAMP UP AUDITS OF WEALTHY TAXPAYERS

Prior to the law, individuals could defer taxes on income through investment in a foreign company.

According to the tax agency, there is a related deduction that lowers the effective tax rate to between 8 percent and 15.5 percent.

Taxpayers can choose to pay the one-time transition tax in a lump sum or over an eight-year period. For many, 2020 marks the third installment of payments.

Failure to comply with the law could result in interest and penalties.

CLICK HERE TO READ MORE ON FOX BUSINESS

As tax compliance among large businesses, in particular, has proven to be challenging for the IRS.

Of the 10,755 returns that were analyzed and closed by the LBI division during fiscal years 2015 through 2018, a report by theTreasury Inspector General for Tax Administrationfound that 47.2 percent were closed with no change to the return. The agency estimated that accounting for the costs of examining the returns about $22.7 million was spent on these returns, which generated no additional revenue for thegovernment.

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IRS gears up to target people, companies with taxes due on offshore earnings - Fox Business

An offshore wind farm off the coast of Copenhagen, Denmark

While the Covid-19 pandemic has devastated huge swathes of the global economy over the past six

New figures from research company BloombergNEF show that worldwide investment in new renewables capacity rose by 5% in the first half of 2020, despite the global economic shock caused by the pandemic.

The sectors strong performance was spearheaded by the best ever six months for offshore wind, which more than made up for declining investment in solar, onshore wind and biomass.

Investors put $35 billion into offshore wind in the first six months of the year, which was more than for the entirety of 2019, and more than triple the same period last year. Some 28 ocean-based wind farms saw investment decisions, including the biggest ever deal, the $3.9 billion, 1.5GW Vattenfall Hollandse Zuid array off the coast of the Netherlands.

Other major offshore deals included the 1.1GW SSE Seagreen project off the UK, at an estimated $3.8 billion; the 600MW $3.6 billion CIP Changfang Xidao array off Taiwan; and the Fecamp and Saint-Brieuc projects in French waters, together totalling 993MW at a cost of $5.4 billion. In addition, the Chinese market really took off there were no fewer than 17 Chinese installations financed, led by the 600MW Guangdong Yudean Yangjiang Yangxi Shapaat scheme, which will cost $1.8 billion.

Albert Cheung, head of analysis at BNEF, commented: We expected to see Covid-19 affecting renewable energy investment in the first half, via delays in the financing process and to some auction programs. There are signs of that in both solar and onshore wind, but the overall global figure has proved amazingly resilient thanks to offshore wind.

Offshore wind is benefitting from the 67% reduction in levelized costs achieved since 2012, and to the performance of the latest, giant turbines, Tom Harries, head of wind analysis, said. But the first half of this year also owed a lot to a rush in China to finance and build, in order to take advantage of a feed-in tariff before it expires at the end of 2021. I expect a slowdown in offshore wind investment globally in the second half, with potentially a new spike early next year.

Overall investment in new renewable energy capacity (excluding large hydro-electric dams of more than 50MW) was $132.4 billion in the first half of 2020, up 5% from a revised $125.8 billion in the same period of 2019. But onshore wind investment was 21% lower to $37.5 billion, while solar funding was 12% down at $54.7 billion.

New biomass and waste-to-energy Investment fell by more than a third to $3.7 billion, but there was an almost six-fold jump in geothermal investment to $676 million. Small hydro projects of less than 50MW saw investment fall by 14% to $576 million, while biofuel refineries saw an 82% drop in funding to $250 million

Chinas offshore wind boom ensured that its renewable energy investment figures grew by 42% on the same period in 2019, while European investment grew 50% and Japans market grew 14%. There were some spectacular increases in individual European markets funding in France more than tripled while the UK and the Netherlands both saw investment about 2.5 times the figure a year earlier. By contrast, investment was down in India (-49%), Brazil (-26%) and Spain (-11%).

A clearer picture of the impact of the pandemic on clean energy investment will emerge when the full year figures for 2020 are published, said Angus McCrone, chief editor at BNEF. Renewables have been helped by vastly improved competitiveness and by investor appetite for assets offering secure cash flows. However, project developers face the challenge that key people, whether at the permitting, financing or construction stages, cant meet face-to-face. And buyers of small-scale solar systems are sensitive to changes in consumer confidence.

In the less mature market for energy smart technologies such as battery storage, funding fell by 43%, while the biggest public markets were the relatively small IPOs of Chinese solar companies, Jinko Power Technology and Trina Solar, which raised $366 million and $359 million respectively.

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Offshore Wind Helps Clean Energy Weather The Covid-19 Storm - Forbes

The Royal Canadian Navy is set to officially welcome the first Arctic and offshore patrol ship to its fleet on Friday.

HMCS Harry DeWolf is the first armed warship to have been finished through the federal governments multibillion-dollar shipbuilding plan.

Harry DeWolf was a career navy officer who retired as chief of the naval staff in 1960. He rose to prominence as commander of HMCS Haida during the Second World War, known for daring tactical manoeuvres and sinking numerous enemy vessels, especially in the English Channel.

Top navy officers marked the arrival of the DeWolf along with representatives from Irving Shipbuilding

These ships will be at the core of an enhanced Canadian Arctic presence, effectively complementing the capabilities of our other current and future warships through critical reconnaissance and surveillance operations, said Vice-Admiral Art McDonald, the commander of the navy, in a statement.

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The DeWolf is the first of six new Arctic and offshore patrol vessels to be built in decades for the Royal Canadian Navy to conduct military operations in the Arctics.

But it arrives two years behind schedule and after a lengthy process.

Then-prime minister Stephen Harper first announced plans to build up to eight armed Arctic patrol vessels in July 2007 and Irving was selected in October 2011 to produce them before building replacements for the navys frigates and destroyers.

But the following years saw several cost overruns and delays in the program.

After work started on the DeWolf in 2015, Irving said it would only be able to build five ships with the $3.1 billion budgeted for the project. The government ended up increasing the budget to $4.1 billion for six.

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That money does not include the two ships for the coast guard, which are expected to cost about $400 million each.

Technical problems were also blamed for pushing the delivery date back several times. Then Irving closed its Halifax shipyard in March for several months because of COVID-19.

Rob Huebert, an expert on the Arctic at the University of Calgary, told the Canadian Press that the DeWolfs arrival heralds a significant shift for the navy, which has tended to focus on the rest of the world and leave Canadas Far North to the Canadian Coast Guard.

Its the first vessel specially built for military operations in the Arctic since the 1950s.

And it couldnt come at a better time, as more and more countries are starting to increase their interest and military footprints in the Far North, which is becoming easier to access due to climate change, said Huebert, who is an expert on Arctic policy.

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Even the most profound Arctic exceptionalist who says the Arctic is just peace, love and Kumbaya will recognize there is a growing need to have at least a presence in the Arctic as it opens up and becomes a greater part of the geopolitical environment, he said.

But once again, this is going to now give us a capability to operate that we havent had since a short little period between 1956 to 57 with (HMCS) Labrador.

The Labrador was an icebreaker built for the navy but was in the fleet just a few years before being transferred to non-military use.

The navy was actually disdainful when Harper announced the new Arctic ships in 2007. Part of it was their slow speed and light armament, as the ships have only one small cannon. But mostly it was because the navy saw the Arctic as coast guard territory.

Because they had not done this since 57, there was a little bit of: OK, what the hell do we do with these ships? We know what we need to do with NATO and in the Pacific. But this is going to sort of require us to scratch our head, Huebert said.

The Royal Canadian Navy is only the latest naval force to join the fray in the Far North. Russia, the U.S., China and some European countries have been increasing their maritime capabilities in the region in recent years as part of a seemingly slow military buildup.

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With files from The Canadian Press

2020 Global News, a division of Corus Entertainment Inc.

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Canadian Navy to welcome first Arctic and offshore patrol ship on Friday - Global News

FILE PHOTO: PetroVietnam oil tanks are pictured in Vung Tau, Vietnam April 27, 2018. REUTERS/Maxim Shemetov

HANOI (Reuters) - Vietnamese state oil firm PetroVietnam made a significant offshore hydrocarbon find during recent exploration drilling, it said on Wednesday.

The new discovery at block 114, 65km (40.39 miles) off the coast of Quang Tri province, comes as the Southeast Asian countrys oil and gas industry struggles to maintain its output as reserves run low, with regional tensions over the South China Sea having affected its offshore activities.

The operator of the block is assessing reserves and aims to start production there in 2028, PetroVietnam said in a statement on its website.

The block is operated by Eni Vietnam B.V. and ESSAR E&P Limited.

The discovery has helped PetroVietnam to meet its target of raising its reserves for this year, the government said in a separate statement without elaborating.

This is important in paving the way for further exploration and production activities in the block and its adjacent area, the government said.

Vietnams crude oil output in the first seven months of this year fell 14.1% year on year to 5.72 million tonnes, government data showed on Wednesday. Its natural gas output fell 8.8% to 5.65 billion cubic metres.

Reporting by Khanh Vu; Editing by David Goodman

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PetroVietnam reports offshore hydrocarbon discovery - Reuters

7/28/2020

Global energy consultancy Xodus Group has agreed a partnership with Japanese consultancy E&E Solutions to deliver in-depth advice and analysis for the fast-developing offshore wind market in Japan.

The collaboration will bring together Xodus Groups international track record in helping clients address industry challenges to enable offshore wind, alongside E&E Solutions extensive experience of providing environmental and renewable energy consulting services across Japan. The partnership will provide integrated advisory and technical services to deliver value to offshore wind developers, owners, operators and lenders.

As the leading consultants for wind projects in Japan, E&E Solutions has significant local market knowledge, including an extensive understanding of Japanese environmental laws and the countrys leasing and consenting system.

Xodus brings multidisciplinary expertise in offshore wind. The companys integrated skills base covers techno-commercial advisory capabilities along with subsea infrastructure, pipelines and cables engineering, offshore engineering, risk management, environmental, supply chain analysis and project development planning. Xodus also brings a proven track record in the European and Asian offshore wind, cables and interconnectors market.

Adrian de Andres, head of offshore renewables development at Xodus Group said: Japan is becoming one of the worlds leading countries in offshore wind development, driven by the need to accelerate the energy transition in this country and the rapid cost reduction of offshore wind technology worldwide. There are considerable opportunities within the Japanese market, especially around the ongoing and future offshore wind licencing rounds. As pioneers in the floating wind sector, delivering work for the Hywind Scotland project, we are confident that by bringing our practical expertise and combining it with the local experience of E&E solutions, we can share lessons learned from global developments, maximise technical solutions and efficiencies and ultimately support Japans carbon reduction goals.

Tomohiko Ike, Director of E&E Solutions added: With a background of providing support to renewable energy projects around the world, the cooperative arrangement with Xodus Group will allow us to provide a holistic service covering engineering, environmental and commercial advice. By engaging with Xodus, which has expertise in floating offshore wind power generation, we will be able to support the further growth of offshore wind especially within Japanese waters, where few shallow waters are present, providing independent advice for consentable, constructible and commercially viable offshore wind projects.

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Xodus Group and E&E Solutions form Japanese offshore wind partnership - WorldOil

(Courtesy Oil and Gas Authority)

Offshore staff

LONDON Britains Oil and Gas Authority (OGA) reveals strong production performance in fields across the UK continental shelf (UKCS).

Its 2019 Production Efficiency reportshows a 5% improvement on 2018 with each sector reporting a rise, apart from west of Shetland where there was no change.

The main factors were a 25% reduction in production losses: this represented a 50-MMboe saving compared with 2018.

Other achievements include a 29% lowering of plant losses; planned shutdowns mostly running to schedule with a 1% overrun on planned time, against 15% in 2018; and an increase in actual wellhead production in the much of the North Sea, apart from the southern gas basin.

According to the OGA, increased production efficiency often corresponds to lower emissions intensity on production facilities. The 23% improvement since 2014 has contributed to reduction of around 10% in carbon emissions per barrel of oil produced over the same period, the authority added.

Another highlight of 2019 was a 40% fall in losses from unplanned shutdowns.

Hedvig Ljungerud, OGA director of Strategy, said: The sustained rise in production efficiency represents a significant achievement by the industry, which plays an important part in both maximising economic recovery from the UKCS and helping in the drive towards lower emissions intensity.

The twin challenges of COVID-19 and the fall in commodity price have placed the industry under pressure, but operators long-term improvement in production efficiency leaves them in a better position.

07/31/2020

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UK operators getting a grip on offshore production losses - Offshore Oil and Gas Magazine

Most oil and gas companies want the positive press that comes with renewable investment, but actions speak louder than words. Equinor(NYSE:EQNR) is showing, with action, that it wants to be a different company, and I think it has what it takes to pull it off.

Here's a closer look at how Norway's energy giant is boldly investing in offshore wind, and why its efforts could make it one of the best ways to invest in the wind industry.

The five wind turbines of Equinor's Hywind Scotland project, the first commercial wind farm to use floating units. Image source: Equinor.

Equinor is better suited to invest in offshore wind than most companies. For starters, it has a real incentive. As mostly an offshore player along the Norwegian continental shelf in the North Sea, many of Equinor's assets are mature. The company thinks it will only be able to keep those assets profitable at current levels until 2030.

Second, unlike onshore wind and solar, offshore wind is a much newer industry. Competition is low, and there's plenty of room around the world for Equinor to enter into the market.

Third, much of Equinor's expertise and decades of experience in offshore productioncan be applied to offshore wind. The company hopes to translate the processes behind its construction of oil and gas offshore vessels and platforms in South Korean shipyards to develop 200 megawatts (MW) of floating offshore wind projects off the coast of Ulsan, South Korea. It also believes that many of the operations involved in offshore oil and gas platforms can be converted to floating offshore wind, an even more niche subcategory of wind energy that captures stronger winds further out at sea when depths exceed 200 feet. Equinor believes around 80% of offshore wind's potential is in deeper water.

Equinor's total current renewables capacity is a mere 0.5 GW, but it plans to grow that number by 30% per year to have 4 GW to 6 GW of capacity by 2026. It currently has 2.8 GW of projects in development. Fifteen years from now, Equinor hopes to have a whopping 12 GW to 16 GW of renewable capacity.

At this moment, Equinor has four active projects and six planned projects that combine for at least 8.6 GW of capacity. In total, these projects can power more than 11 million homes per year. If all projects were completed by 2026, Equinor would be ahead of its 4 GW to 6 GW project capacity goal, and that goal was for all of its renewables, not just offshore wind. However, while Equinor is the operator of all of these projects, it has only a partial investment interest in many of them.

It's too early to tell what the true profitability of many of Equinor's offshore wind projects will be, but the company expects to generate unlevered project returns of 6% to 10% from its offshore wind investments over time. It expects it can generate an even higher return as it continues to allocate toward renewables, better manage projects over time, and gain economies of scale.Essentially, the company expects that it will achieve a competitive advantage -- largely thanks to its quantity of projects and first-mover advantage -- that will make its projects even more profitable than its preliminary estimates.

As one of the largest offshore oil and gas operators with decades of experience on the rough North Sea, Equinor's aggressive investments into offshore wind appear to be a good fit.

For income investors looking for an oil and gas company that pays a steady dividend, Equinor is not that company. For investors with a long-term time horizon looking to stake a bold claim into an oil and gas company that's laser-focused on reinventing itselfand has shown its dedication to offshore wind, Equinor could be a great way to invest in wind energy.

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Here's Why Offshore Wind Is a Good Fit for This Oil Giant - The Motley Fool

HALIFAX -- An important milestone for the Irving Shipyard in Halifax and Canada's shipbuilding strategy is arriving soon.

On Friday, the East Coast shipyard is set to deliver the first of the new offshore Arctic patrol ships to the Royal Canadian Navy about five years after the program began.

At 103 metres long, 19 metres wide and 6,615 tonnes, Harry DeWolf is the largest ship built for the Royal Canadian Navy in 50 years. It is the first of six ships destined for the navy from the Irving Shipyard, with two more expected for the Canadian Coast Guard.

Harry DeWolf is almost two years behind schedule, with some of the delay being blamed on the COVID-19 pandemic. Operations at the Irving Shipyard were shut down for over three months while the company implemented new protocols to deal with the coronavirus. No cases of COVID-19 were reported among shipyard workers.

Speaking to CTV News Thursday, Irving Shipyard president, Kevin McCoy, said it has been a long journey to re-establish shipbuilding on a large scale here in Canada.

"The ship is going to be, I would say, a jack-of-all-trades for the Canadian navy," McCoy said. "Everything from persistent offshore Maritime surveillance to patrols in the Arctic, to even humanitarian assistance and disaster relief to the homeland."

The contract for the six Arctic patrol vessels is pegged at $3.5-billion under Ottawa's national shipbuilding strategy. An additional 15 ships will be built by Irving Shipyard to replace the navy's 12 frigates and three recently retired destroyers at an estimated cost of $60 billion. Construction of those were set to begin in 2023, but McCoy says that date could be pushed back due to the pandemic.

In May 2018, Prime Minister Justin Trudeau announced plans to spend an additional $15.7 billion for 18 Canadian Coast Guard ships, including two additional Arctic patrol vessels from Irving. Seaspan Shipbuilding in Vancouver will build the rest; as well as four science vessels for the coast guard and two naval support ships.

Speaking further of the delay in completing the Harry DeWolf and her sister ships, McCoy said, worldwide, it's challenging to build any new class of ship.

"We had to not only build a new class of ship; but also re-establish an entire industry in Canada," said McCoy. "hire new people, train new people. We had to put $400 million worth of infrastructure in we've learned a tremendous amount."

McCoy expects the timeline for the remaining ships coming off the line to be faster.

As for cost, McCoy said the Harry DeWolf and the remaining ships will be built within budget.

"This ship, all in, about $500 million dollars, with the follow on ships considerably less," said McCoy.

The next ship will be off the line and ready for delivery in the spring of 2021.

In terms of the function of the vessels, they will conduct surveillance operations throughout Canada's waters. They will operate in the Arctic between June and October and are capable of operating in first-year ice of 120-centimetre thickness.

The ships can assist in anti-smuggling and anti-piracy operations. Depending on mission requirements, it can accommodate small utility aircraft up to the new Sikorsky CH-148 Cyclone helicopter.

Additionally, the ships can carry shipping containers, underwater survey equipment, or landing craft. The ship is equipped with a 20-tonne crane, providing self-load and unload capability. In order to provide rapid mobility on land or ice, the ship has a bay for specialized vehicles such as pickup trucks, ATVs, and snowmobiles.

The ship can hold a crew of 65, with an additional 20 people, and can sustain crews at sea for four months.

Meanwhile, Friday's handover ceremony will take place at 1 p.m. at Her Majesty's Canadian Dockyard in Halifax.

With files from The Canadian Press

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Irving Shipyard to deliver first offshore Arctic patrol vessel to the navy Friday - CTV News Atlantic