Monthly Archives: January 2020

TheFrench Government has increased its offshore wind ambition in the latestdraft of the programmations pluriannuelles de lnergie (PPE), which setsout the countrys energy strategy for the period 2019-2028.

The Government aims to increase its installed offshore wind target from4.7-5.2 GW to 5.2-6.2 GW by 2028. The PPE sets out a tender programme foran additional 1 GW fixed project to be tendered in 2021-2022 and 2023 anda second 250 MW floating project in the Mediterranean in 2022. Annual tenderingcapacity from 2024-2028 for fixed and floating has also been increasedfrom 500 MW to 1 GW.

The increase was sparked by the success of the 500 MW Dunkirkauction in June 2019, which saw an EDF-led consortium win with a dramaticallylower bid than expected of 44/MWh. The PPE envisages prices for fixedand floating to range from 50-60/MWh and 110-120/ MWh for future tenders.A public consultation on the PPE started on 20th January and will closeon 19th February.

For more information on offshore windfarms worldwide,clickhere.

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France ups offshore wind ambitions - 4C Offshore

The Financial Services Tribunal has upheld a ruling against asset manager 36One Asset Management that it solicited investments into unapproved offshore funds in contravention of the law.

The tribunal also upheld the fine of R350,000 imposed on the manager for the contravention.

Investing offshore gives you a chance to diversify your portfolio to include investments in different economies, geographic regions and a wider selection of companies. It also increases your potential to earn returns under different conditions.

However, to help you invest in safe, familiar, offshore investments with providers that are easy to contact, the Financial Sector Conduct Authority (FSCA) only allows offshore funds that are registered with it to be marketed to you.

To register, funds must comply with certain requirements such as having a local representative and conform to similar regulation to that which governs South African funds in order to protect investors. Funds may choose not to register with the local regulator and this does not prevent you from investing in them if you want to, but providers cannot actively market them to you.

36One had two offshore hedge funds based in the Cayman Islands that it did not register with the FSCA and between August 2015 and March 2018 it included details about these funds on its website, in newsletters sent to clients, and presentations made to clients.

In April last year, the FSCA said that by publishing and marketing the funds, 36One effectively solicited investment into the unapproved funds in contravention of the Collective Investment Schemes Control Act (CISCA).

In terms of the CISCA, managers may only solicit investment into offshore funds that have been approved by the FSCA. The act criminalises soliciting of investment in unapproved offshore funds.

Hedge funds were required to register as collective investment schemes with effect from April 2015.

36One appealed to the tribunal to have the FSCAs ruling set aside, arguing in its defence that the word solicit in CISCA means an intentional and earnest request to the public to invest, and the inclusion of the unapproved funds in its publications did not mean there was intent to promote investment into the funds.

The tribunal rejected this argument as improbable and agreed with the FSCA that promoting the unapproved funds in its publications amounted to soliciting investments.

Disingenuous disclaimer

The tribunals judgment was also clear that by including the unregistered funds in the companys portfolio on its website the company was marketing those funds.

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Why 36One lost its appeal over offshore funds - Business Day

The ammonia-driven fuel cell system will be installed on the Viking Energy in 2024.

(Courtesy Eidesvik Offshore)

Offshore staff

STAVANGER, Norway Equinor and Eidesvik Offshore have agreed to modify the supply vessel Viking Energy to make it capable of covering long distances fueled by ammonia.

Earlier this week Equinor awarded Eidesvik a five-year contract with effect from April 2020, when the current contract expires. In the contract period, the Viking Energy will be part of a research project developing, installing, and testing long-distance sailing fueled by ammonia fuel cells. The technology will be tested on the vessel in 2024.

Cecilie Rnning, senior vice president for Equinors joint operations support, said: Equinor aims to reduce the emissions in our supply chain, and regards the use of ammonia as a promising solution. Viking Energy may become the first supply vessel in the world covering long distances fueled by pure carbon-free ammonia.

Equinor is part of the ShipFC project, a consortium of 14 European companies and institutions coordinated by NCE Maritime Cleantech. The main partners of the five-year research project are NCE Maritime Cleantech, Eidesvik, Wrtsil, Prototech, and Equinor. Wrtsil will deliver the power technology and ammonia storage and distribution systems. Prototech will deliver the fuel cell system.

The project will test whether the technology can deliver 100% carbon-free power over long distances.

Vermund Hjelland, vice president of technology and development at Eidesvik Offshore, said: As part of the testing, the vessel will use ammonia in transit between harbor and offshore installations for one year. In addition, we envisage that ammonia will be used to power the vessel when alongside quay.

Our ambition is that 60 to 70% of the energy consumption will come from ammonia during the test period. In addition, we want to demonstrate that the technology can supply up to 90% of the total power demand.

The Viking Energy will still be able to use LNG as fuel, and the remaining power requirement will be met by battery.

Ammonia research on the Viking Energy has a total budget of NOK 230 million ($26 million), a substantial part of which is EU funded. According to Equinor, the partners also have a good dialogue with Innovasjon Norge and Enova about potential additional funding of the project.

Since the early 2000s, the company said it has proactively addressed ways of cutting emissions from supply vessels on the Norwegian continental shelf. The Viking Energy was the first LNG-fueled vessel in Equinors fleet in 2003, and the first vessel with hybrid battery power in 2016.

During 2020 all the 19 supply vessels on long-term contracts with Equinor will feature battery power and power from shore.

Earlier this year, Equinor and the Konkraft partners launched a joint ambition to reduce the greenhouse gas emissions from oil and gas operations in Norway by 40% by 2030, and to near zero by 2050.

01/23/2020

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Research project to test zero emission technology on Viking Energy - Offshore Oil and Gas Magazine

]]> Turkey President Erdogan has stated that Somalia has invited Turkey to explore for oil in its seas. Credit: gloriaurban4 from Pixabay.

The President of Turkey, Tayyip Erdogan, has said that the country received an invitation to explore oil in Somalian waters from Somalia.

NTV reported that Turkey signed a maritime delimitation agreement with Libyas Government of National Accord (GNA) last year.

An exclusive economic zone can be established from Turkeys southern coast to Libyas northeast shores. Also, this relationship between Turkey and Libya could result in attracting international oil companies.

During a meet with reporters, Erdogan said Turkey would take necessary steps in line with the offer. He did not give further details.

Seismic studies have revealed that there could be significant oil and gas resources in offshore Somalia.

Erdogan said: There is an offer from Somalia. They are saying: There is oil in our seas. You are carrying out these operations with Libya, but you can also do them here. This is very important for us.

Therefore, there will be steps that we will take in our operations there.

Since the Somalian famine of 2011, Turkey has been a major source of aid for the country. Turkey has helped it to build roads and trained soldiers.

Earlier this month, the Upper House of the Somalian Parliament has approved a new petroleum law which it expects to attract investments from big oil companies.

More here:

Turkey receives invitation from Somalia to explore offshore oil - Offshore Technology

Eni S.p.A. E recently started production from the Agogo oilfield, located offshore Angola. Notably, the production commencement in the 15/06 block occurred only nine months following its discovery. It was supported by operational synergies from the Floating Production Storage Offloading (FPSO) vessel Ngoma, located just 15 kilometres away from the oilfield.

The Agogo-1 well was drilled at a water depth of approximately 1700 meters and currently produces 10,000 barrels of oil per day. The output is expected to double in the next few weeks. The oilfield is anticipated to have 650 million barrels of oil. Encouragingly, new delineation wells will be drilled to uphold the fields further potential. The companys initiatives to start production in just nine months, with the help of existing infrastructures that maximize project value, are commendable.

West and East Hubs are two running projects of the company in the Block 15/06, which has several discoveries and two FPSO platforms under its belt. The production hubs incorporate a total of eight fields and 42 underwater wells. Total oil output from the two platforms surpassed the 180-million barrels mark by 2019-end.

The company, along with joint venture partners, Sonangol and SSI Fifteen, had launched a new exploration program in the block in second-half 2018. The exploration campaign led to five new discoveries that are expected to hold 2 billion barrels of oil. These developments strengthened Enis footprint in the region and boosted organic growth. The company is the operator in the block with a 36.8421% stake. Its equity production from Angola currently stands at around 145,000 barrels of oil equivalent per day.

In a separate announcement, the company reported that it has won a new exploration and production license in the Namibe basin offshore Angola. The local government assigned block 28 to the company. Therein, it holds an operating interest of 60%. The block is located 10 kilometres away from the coast, at a water depth of 1000-2500 meters.

Price Performance

Enis shares have slipped 7.3% in the past year compared with 6.9% fall of the industry it belongs to.

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Currently, Eni has a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the energy sector include Chevron Corporation CVX, Repsol SA REPYY and Enbridge Inc. ENB, each carrying a Zacks Rank #2 (Buy). You can seethe complete list of todays Zacks #1 Rank (Strong Buy) stocks here.

Chevrons bottom line for 2020 is expected to rise 5.5% year over year.

Repsols bottom line for 2020 is expected to rise 51% year over year.

Enbridges revenues for fourth-quarter 2019 is expected to rise 8% year over year.

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Eni Begins Production From Agogo Oilfield Offshore Angola - Nasdaq

Sailors should expect tricky conditions on Thursday, especially in the afternoon on Day #4 of 2020 Hempel World Cup Series Miami.

Patchy fog early and partly to mostly cloudy throughout the day including a slight chance of showers is forecasted. Warmer temperatures than Wednesday and Tuesday are expected with the high near 76 degrees.

Most of the day will be a ENE-E gradient wind. Wind speeds may increase with the ENE wind to 10-15 knots this morning. Afternoon breeze will average 7-12 knots and perhaps lower.

2020 Hempel World Cup Series Miami is partnering with the Fort Lauderdale to Key West Race this year. Thursday is the start of this new Doublehanded Offshore Event. Doublehanded offshore teams will start south of Port Everglades and the boats will race to Key West, with an expected course length of approximately 160 miles.

Tune in on the SORC Sailing Facebook page for live video from the signal boat. Spectators on shore can view of the start from the Dania Beach Fishing Pier. The finish is off of Mallory Square in Key West.

QUICK LINKS TO COVERAGE:

SOCIAL MEDIAFollow the event on World Sailings social networks and get involved in the conversation using #hwcsmiami

Facebook https://www.facebook.com/worldsailingofficial/Instagram https://www.instagram.com/worldsailingofficial/Twitter @worldsailing

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Day #4 Morning Report: Start of Doublehanded Offshore Event, Weather and Conditions - US SAILING

RPS Group has been appointed to carry out environmental studies for Start of the South, Australias first offshore wind project.

RPS will undertake marine mammal and bird surveys to support the projects offshore planning approvals.

The deal was signed by Star of the South Chief Executive Casper Frost Thorhauge and RPS Executive General ManagerforPlace and Environment Susan Farr.

RPS is excited to be able to drive success for Australias first offshore wind project by combining the expertise we have gained on other offshore wind projects overseas including the Hornsea Projects in the UKthe largest currently under construction globallywith our experience managing Australias most complex environmental studies, plans and approvals, said Farr.

Were pleased to be working on an iconic project like the Star of the South, which has the potential to transform our energy supply, while delivering positive environmental, community and economic outcomes for Gippsland, Victoria and Australia.

Eight subsea passive acoustic monitoring recorders will be deployed at the Star of the South site from mid-February as part of a passive acoustic monitoring program for vocalizing marine mammals.

Also, a bathymetric and geophysical site survey will commence at the site offshore Gippsland on 28 February.

Star of the Southcould comprise up to 250 turbines with a combined capacity of up to 2GW. The project is a joint development by AustraliasOffshore Energy and Copenhagen Infrastructure Partners (CIP).

Link:

RPS to Conduct Star of the South Environmental Studies - Offshore WIND

The first of the total of 90 wind turbine foundations has been installed at the Triton Knoll offshore wind farm.

The installation of the first steel monopile, weighing some 600 tonnes, and its transition piece was done by Seaway7s heavy-lift vessel Seaway Strashnov.

The vessel has been contracted to transport and install all wind turbine foundations, as well as the wind farms two offshore substations and their foundations.

Our first clear weather window of the year has presented us with a great opportunity, and Im delighted to confirm that the first monopile and transition piece have been safely and successfully installed at Triton Knoll, said Julian Garnsey, project director for Triton Knoll and innogy.

We will continue to press ahead with the foundations programme, as the weather permits, and look forward to installation of the projects offshore substations and cables later this summer, Garnsey said.

The offshore wind farm will feature 90 MHI Vestas 9.5MW turbines. The 860MW project, located over 32 kilometers off the Lincolnshire coast, is jointly owned by innogy, J-Power and Kansai Electric Power.

Innogy is managing the project construction and long-term operation and maintenance works, on behalf of its project partners.

The offshore wind farm is expected to be put into operation in 2021.

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First Foundation In at Triton Knoll - Offshore WIND

Issued on: 19/01/2020 - 04:38Modified: 19/01/2020 - 04:37

London (AFP)

Britain, a global leader in offshore wind energy, plans to make the sector one of the pillars of its transition to carbon neutrality in the coming decades.

The country aims to quadruple its offshore electricity production capacity by 2030 by utilising the windswept North Sea and a favourable policy environment.

"It's more conducive to build offshore in the UK than anywhere else in Europe," said James Brabben, of Cornwall Insight energy consultancy.

"There's quite a consensus of support around offshore wind from the public and politics," he told AFP.

Prime Minister Boris Johnson's government, returned to power with a thumping majority last month, pledged in its election manifesto to increase power from offshore wind from 10 to 40 gigawatts this decade.

It wants Britain to be carbon neutral by 2050, with onshore wind, solar, hydro and biomass also set to contribute to its energy mix.

The country already produces almost 40 percent of its electricity from renewable sources, according to figures published last week for the third quarter of 2019.

- Planned expansions -

Britain plans to favour the development of colossal offshore wind farms given the country's relatively small land mass.

There were 38 operational sites comprising around 2,000 turbines at the end of 2018, according to the last available figures from the Crown Estate, the hereditary land and property portfolio of the royal family which owns most of Britain's seabed.

Nearly 1,000 more turbines are already in the planning stages.

Two of the biggest projects are Walney Extension, in north Wales, and London Array, at the mouth of the River Thames.

The two sites are home to the highest concentration of British offshore farms, thanks to the windy weather conditions created by their geography.

Several other projects are also under way, including at Hornsea and Dogger Bank off the coast of Yorkshire, which will compete for the title of largest offshore wind turbine field in the world.

Johnson has also touted rolling out floating wind farms, which utilise cutting-edge technology still being developed, to tap into windy marine areas with deeper seabeds.

Maritime wind farms have not proved universally popular among residents when visible from the shore, while some NGOs have concerns over the impact on marine mammals and migratory birds.

- 'Sustainable technology' -

The sector is also trying to account for the so-called "global cost" of building and running a wind turbine on the planet.

Danish manufacturer Vestas has estimated it takes between five and 12 months of use to offset the energy cost of a turbine, the difference depending on the model and wind conditions.

"As turbines repay their entire carbon footprint in such a short space of time, they are excellent examples of sustainable technology in action," Robert Norris, of industry trade association RenewableUK, told AFP.

Alastair Dutton, who heads a task force at the Global Wind Energy Council (GWEC) industry group, believes bigger investment in technological innovation is needed "to further increase their sustainability".

He expects that will allow turbine producers to "move away from carbon intensive raw earth materials and implement the highest level possible of recycling to insert wind within the circular economy".

Offshore wind power had a record year in 2019, with the completion of projects off the coasts of China, Taiwan, Britain and the Netherlands, among others.

The International Energy Agency (IEA) has highlighted the almost "unlimited potential" of offshore wind power, as production costs fall and technological progress increases turbines' power and efficiency.

2020 AFP

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UK looks to offshore wind for green energy transition - FRANCE 24