Monthly Archives: April 2021

DUBLIN--(BUSINESS WIRE)--The "Global Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.

The publisher has been monitoring the offshore oil and gas seismic equipment and acquisitions market and it is poised to grow by $1.65 billion during 2021-2025 progressing at a CAGR of 8% during the forecast period.

The report on offshore oil and gas seismic equipment and acquisitions market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increasing investments in offshore upstream sector and growing demand for oil and natural gas.

The offshore oil and gas seismic equipment and acquisitions market analysis includes technology segment and geographical landscapes. This study identifies the rise in deepwater and ultra-deepwater E&P projects as one of the prime reasons driving the offshore oil and gas seismic equipment and acquisitions market growth during the next few years.

Companies Mentioned

The report on offshore oil and gas seismic equipment and acquisitions market covers the following areas:

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.

Key Topics Covered:

1. Executive Summary

2. Market Landscape

3. Market Sizing

4. Five Forces Analysis

5. Market Segmentation by Technology

6. Customer landscape

7. Geographic Landscape

8. Vendor Landscape

9. Vendor Analysis

10. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/u11k5o

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Outlook on the Offshore Oil and Gas Seismic Equipment and Acquisitions Global Market to 2025 - Growing Demand for Oil and Natural Gas is Driving the...

The central coast will continue to heat up Wednesday as high pressure and offshore flow bring warmer temperatures to the region.

Throughout the morning commute, skies will be clear and winds will be mild to moderate. As of 4:15 a.m., wind speeds near the north coast were clocking in from 25-35 miles per hour. Winds will shift out of the northeast throughout the afternoon and taper off slightly and be close to 20 mph.

Temperatures will be above average for most, if not all, the area. Inland valley communities will range from the mid-70s to the mid-80s, while coastal valleys will range from the upper 70s to mid-80s. The beaches will be warm as well with daytime highs expected to reach the mid-70s to low 80s.

For those with allergies, pollen levels will continue to be at a high-level Wednesday which may result in irritation for those who spend time outside.

Onshore flow is expected to make a return Thursday and bring cooler temperatures back to the forecast through the end of the weekend.

Originally posted here:

Offshore flow and high pressure will bring daytime highs up to the 80s across the central coast Wednesday - KSBY San Luis Obispo News

OSLO (Reuters) - Norway will press ahead with North Sea wind power this year, awarding its first development licences as it spurs the transition of its oil and gas industry and despite its already plentiful renewables supply.

FILE PHOTO: A view of the Johan Sverdrup oilfield in the North Sea, January 7, 2020. Carina Johansen/NTB Scanpix/via REUTERS

The government has earmarked two areas in the North Sea for up to 4.5 gigawatts of floating and bottom-fixed wind turbine capacity, just under half the current installed capacity in Britain, Europes offshore wind leader.

Norway does not actually need offshore wind farms for power - nearly all its electricity comes from renewables already - but instead sees the sector as a means of helping its vast oil and gas industry secure a new, low-carbon business model for the future.

Oslo will present details of the tender this spring as part of a white paper on the energy sector, and first wind farms could be in operation by the end of the decade.

Many details remain unclear but the process should follow oil and gas exploration procedures where typically seabed rent is not charged.

Norway, western Europes largest oil and gas producer, is examining how it can adapt its petroleum industry.

Norways Equinor and several other European oil firms including Total, BP and Shell have announced plans to massively scale up their renewable power portfolios, often focusing on offshore wind, as they seek to reduce reliance on oil to satisfy stakeholders and meet climate targets.

We believe that especially offshore resources offer all the prerequisites to succeed. We have the knowledge, the experience, we have a good track record from establishing and building advanced installation in tough conditions far out at sea, NOG oil lobby boss Anniken Hauglie told Reuters.

We now need to use the time to build up new industries, new value chains, that will over time become the new legs for Norway to stand on, she said.

(Graphic: Norwegian offshore wind areas - )

The two sites - Utsira Nord, northwest of the oil industry capital Stavanger and Soerlige Nordsjoe II, bordering the Danish sector of the North Sea - both include deep water sections more suited to floating turbines.

Floating turbines are a less mature technology but widely seen as offering the greatest opportunity for Norwegian firms.

Equinor is developing one such pilot project, called Hywind Tampen, which will supply power to its Gullfaks oil platform.

Norway is seeking to cut greenhouse gas emissions produced by its offshore platforms, which tend to be powered by on-site gas turbines. Linking them to the power grid onshore is one option, and offshore wind turbines are another.

A lot of players want to position themselves in Norway, as it is a huge flagship project, said Vegard Wiik Vollset, vice-president renewable energy at consultancy Rystad Energy.

It has clear synergies for some of these companies given its potential for electrification of oil and gas fields on the Norwegian Continental Shelf.

Like oil, Norway would export the offshore wind it produces. In 2020, hydro and onshore wind power accounted for more than 98% of Norways record high electricity production of 154.2 terawatt hours (TWh), generating net exports of 20.5 TWh, data from regulator NVE showed.

(Graphic: Norwegian power production 2020 - )

The way the market is looking now, we believe there will be a power surplus for a long time into the future, said Christian Rynning-Toennesen, CEO of top utility Statkraft.

Statkraft will participate in the offshore wind tender with Aker Offshore Wind, a company created by the Aker group, which previously focused mainly on oil and gas.

Non-EU Norway could also help to meet the European Unions goal of increasing offshore wind power capacity to 60 GW by 2030 from 12 GW currently.

If they want to achieve it, it needs to happen in the North Sea and if it happens in the North Sea, Norway should be a part of it, said Steffen Syvertsen, CEO of utility Agder Energi.

Agder Energi is also bidding in the upcoming offshore wind licensing round, teaming up with Vaargroenn (our green in Norwegian), a joint venture of private equity firm HitecVision, once solely focused on oil and gas, and Italian energy producer Eni.

Offshore wind in Norway remains unprofitable without subsidies, noted Sigbjoern Seland, chief analyst at StormGeo Nena Analysis, adding the technology needs to achieve continued sharp cost cuts, move the cost of grid connection away from developers and generally higher demand.

Based on current developments, this could happen in 5-8 years time, most likely in 10-15 years, Seland said.

Its not enough with one wind farm, you need a view of 3-4 wind farms of a certain size, said Daniel Willoch, a policy adviser at wind power lobby group NORWEA.

Others seemed confident of government support.

One thing we have seen across the world is that governments find their own way to support industrial development, said Aker Offshore Wind CEO Astrid Skarheim Onsum.

Norway had access to a vast toolbox of support mechanisms and a history of finding tailored solutions to support its industrial development, she added.

It reminds me a little of the time we discovered oil for the first time, Tina Bru, oil and energy minister, told a recent energy conference.

Editing by Gwladys Fouche and Jason Neely

Read more:

Norway readies first offshore wind tenders to spur oil industry transition - Reuters

Multinational corporations shifted $1 trillion in profits from the countries where their economic activity takes place to a small number of tax havens in 2016, depriving governments worldwide of more than $200 billion in tax revenues, a new study shows.

Researchers with the U.K.-based International Centre for Tax and Development found that multinationals headquartered in the United States and Bermuda used profit-shifting more aggressively, while lower-income countries suffered the most losses because of such practices.

The study was mainly based on corporate information released for the first time last year by the Organization for Economic Co-operation and Development, and only data from 2016 is available.

Its such a simple question: Where do [multinationals] pay taxes? And how much do they pay in low income countries? said Petr Jansk, an economist at Charles University, in Prague, and one of the authors of the study.

The main issue at stake is not that multinational corporations are benefiting from this tax avoidance scheme but that somebody is being harmed, Jansk said. Somebody is losing out because of this.

In 2017, the Paradise Papers investigation by the International Consortium of Investigative Journalists exposed the tax engineering of more than 100 multinational corporations, including Apple, Nike and Botox-maker Allergan. For instance, ICIJ documented how Apple found ways to keep tax rates ultra-low and accumulate a $252 billion mountain of cash offshore.

Jansk said that the new study shows that those are not isolated cases.

Ten tax havens received most of the companies profits, according to the ICTD research. Those include three European countries Luxembourg, the Netherlands and Switzerland as well as the Cayman Islands, Singapore, Bermuda and Puerto Rico.

While African countries appear to be the most vulnerable to profit-shifting, the study shows how multinationals tax avoidance schemes also deprive high-income countries, such as the U.S., Germany and France, of financial resources. The two European countries are estimated to lose at least one quarter of their profit base to profit shifting, it said.

Profit shifting is thus a phenomenon where the majority of countries lose, the researchers wrote in the report.

The ICTD team used data from the U.S. revenue service and country-level information that corporations in more than 50 OECD member countries have agreed to report.

The new rule requires companies with more than $850 million in revenues to report how much they pay in taxes in individual jurisdictions and where they book income. The initiative is part of a coordinated effort to tackle tax avoidance by corporations and assess its global economic impact.

However, Jansk said he was disappointed when he realized that only a few countries have actually collected and shared the information with the public. Some only provided aggregated data without providing details on multinationals tax payments and profit allocation at the country level.

In total, the OECD has released data on 4,000 multinationals headquartered in 26 jurisdictions and operating across more than 100 jurisdictions worldwide.

The researchers expect to have 2017 data in July.

In the meantime, they hope that policymakers will consider the new findings when discussing the introduction of a global minimum tax for multinationals. The initiative called the Paris climate accord of taxes by Nobel Prize-winning economist Joseph Stiglitz has recently seen the support of U.S. Treasury Secretary Janet Yellen.

The OECD member countries are expected to reach agreement on the minimum tax reform by mid 2021.

Originally posted here:

Multinationals shifted $1 trillion offshore, stripping countries of billions in tax revenues, study says - ICIJ - ICIJ.org

The hydrogen hub would use power from an offshore wind field (Orsted)

By The Maritime Executive 03-31-2021 03:31:58

Orsted, the Danish energy company that has been aggressively pursuing offshore energy, announced new plans for one of the worlds largest renewable hydrogen plants. Know as SeaH2Land, the massive project envisions linking offshore wind power to create a hydrogen hub for the industrial cluster centered around the Dutch-Flemish North Sea Port.

The North Sea Port cluster is according to Orsted one of the largest production and demand centers of fossil hydrogen in Europe currently using 580,000 tons per year. Driven by decarbonization efforts, industrial demand in the cluster could grow to about one million tons by 2050, equivalent to roughly 10 GW of electrolysis. In addition to the broad industrial applications for hydrogen in the region, the North Sea Port, one of Europes largest shipping gateways, has the potential to become a large user of hydrogen as the marine fuel applications are developed.

The SeaH2Land project includes a renewable hydrogen production facility of 1 GW to be developed by Orsted by 2030. If realized, the electrolyzer, which would produce the renewable hydrogen, would have the potential to convert about 20 percent of the current hydrogen consumption in the region to renewable hydrogen.

Orsted proposes to connect the GW electrolyzer directly to a new 2 GW offshore wind farm in the North Sea. This will enable the large-scale supply of renewable electricity required for the production of renewable hydrogen and correlates with Dutch proposals to accelerate the roll-out of offshore wind projects to meet increasing electricity demand. The offshore wind farm could be built in one of the zones in the southern part of the Dutch exclusive economic zone that has already been designated for offshore wind development.

"The Dutch-Flemish North Sea Port covers one of the largest hydrogen clusters in Europe. As the world looks to decarbonize, it's paramount that we act now to secure the long-term competitiveness of European industry in a green economy, said Martin Neubert, Chief Commercial Officer and Deputy Group CEO, Orsted. The SeaH2Land project outlines a clear vision and roadmap for large-scale renewable hydrogen linked to new offshore wind capacity. With the right framework in place, the Netherlands and Belgium can leverage the nearly unlimited power of offshore wind to significantly advance renewable hydrogen as a true European industrial success story."

Map of the proposed regiional hydrogen network (Orsted)

To achieve the regional hydrogen hub, the SeaH2Land project also proposed to link the electrolyzer to a regional pipeline system connecting large-scale consumption and production in the cluster. Yara, in consortium with Orsted, and Zeeland Refinery have each announced plans for mid-size renewable hydrogen production at their sites, while Dow has been exporting hydrogen to Yara since 2018 through the world's first conversion of a gas pipeline into hydrogen. The pipeline network could also be extended further south to ArcelorMittal and further north, underneath the river Scheldt, to Zeeland Refinery. The cluster strategy also proposes to extend the 380 kV high-voltage network for the electrification needs of the industry south of the river Scheldt.

Through the development of this network of links between the industrial locations with the electrolysis and offshore wind, landing it would be possible to create a true energy hub spanning both sides of the river and one of Europes largest industrial zones. They believe that this would create a unique regional ecosystem of hydrogen exchange with significant carbon reduction in the manufacturing processes of ammonia, chemicals, and steel and a significant contribution to the European Green Deal.

The major industrial companies in the region ArcelorMittal, Yara, Dow Benelux, and Zeeland Refinery, support the development of the required regional infrastructure. The partnership will now move forward and engage in dialogue with the regulatory authorities on the framework and policies needed to support the development of renewable hydrogen linked to large-scale offshore wind, the regional infrastructure, and conduct a full feasibility study of the project.

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Orsted Proposes Hydrogen Hub Combining Offshore Wind at North Sea Port - The Maritime Executive

Integrating mWave wave power technology with floating wind turbines is expected to result in shared cost reduction benefits of electrical infrastructure including export cable and grid as well as the platform.

(Courtesy Bobmora and TechnipFMC)

Offshore staff

LONDON, PARIS, and HOUSTON TechnipFMC and Bombora have formed a strategic partnership to develop a floating wind and wave power project.

The relationship brings together TechnipFMCs technologies and experience delivering integrated engineering, procurement, construction, and installation projects offshore with Bomboras patented multi-megawatt mWave technology that converts wave energy into electricity.

The partnership will initially focus on the InSPIRE (Integrated Semisubmersible Platform with Innovative Renewable Energy) project. With engineering work initiated in November 2020, the partnership is developing a hybrid system using Bomboras mWave technology. The hybrid system demonstrator will deliver 6 MW (2 MW wave and 4 MW of wind power), followed by Series 1 and Series 2 commercial platforms which are expected to deliver 12 and 18 MW, respectively.

According to Bombora, mWave features a series of air-filled rubber membrane covered concave cell modules positioned below the oceans surface transforming the submerged platform structure into productive real-estate, capturing maximum energy.

As waves pass over mWave, under-water pressure increases, causing each rubber membrane to compress sequentially, forcing air from inside the cells into a duct. Valves control a one-way air flow to the turbine directly spinning a generator converting this rotation into electricity. After passing through the turbine the air is recycled to re-inflate each membrane in a continuous sequence. The power generated by the system is transferred to the electrical grid via the same subsea cable used for the wind turbine.

The membranes can be fully deflated creating a sleep mode protecting mWave from storm damage, the company said.

04/01/2021

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Partnership to develop integrated floating offshore wind, wave platform - Offshore Oil and Gas Magazine

Maine Marine Patrol officials and local fishermen have made headway over the last week in clearing fishing gear from a 23-mile long path being surveyed for an offshore wind development project, state marine officials say.

The monthlong survey for the New England Aqua Ventus project began earlier this month, but the presence of fishing gear on the path was making it difficult for the vessel conducting a survey of the seafloor to do its work, according to a project spokesperson and Maine Department of Marine Resources officials.

Fishermen were asked to move their gear in advance of the survey, but given the contentious issue of wind development of the Gulf of Maine, some fishermen felt they shouldnt have to move their traps for a project that they feel threatens their livelihood.

Last week, the Maine Department of Marine Resources sent a notice to fishermen with gear still in the survey route asking that they voluntarily move their traps or else Marine Patrol officers would move the gear for them. The notice was sent after Marine Patrol identified about 240 lobster traps still within the survey route.

In the past week, Maine Marine Patrol officials have moved about 100 lobster traps from the path, according to Maine Department of Marine Resources spokesperson Jeff Nichols.

Fishermen themselves have also made a concerted effort to move gear out of the route but weather has made that challenging, he said.

The gear removal has resulted in a significant portion of the survey route being cleared, New England Aqua Ventus spokesperson Dave Wilby said.

While the survey was supposed to be wrapping up in early April, Wilby said an exact timeline for the rest of the survey is not yet known given the weather and gear-related delays the vessels have encountered.

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Fishing gear removed from path of offshore wind project survey - Bangor Daily News

TechnipFMC and wave energy technology specialist, Bombora, have formed a strategic partnership to develop a floating wave and wind power project.

The partnership will initially focus on TechnipFMC and Bomboras InSPIRE project.

With engineering work initiated in November 2020, the partnership is developing a hybrid system utilizing Bomboras mWave technology.

The hybrid system demonstrator will deliver 6 MW of combined floating wind and wave power, followed by Series 1 and Series 2 commercial platforms which are expected to deliver 12 and 18 MW, respectively.

Jonathan Landes, President Subsea at TechnipFMC, said: Our core competencies and integration capabilities make us an ideal system architect and partner in developing renewable energy solutions alongside Bomboras experience and unique, patented mWave technology. We are delighted to work on a project that advances our commitment to the environment while contributing toward a more sustainable future.

The relationship is said to bring together TechnipFMCs technologies and experience delivering complex integrated Engineering, Procurement, Construction, and Installation projects offshore with Bomboras patented multi-megawatt mWave technology that converts wave energy into electricity.

Bombora is collaborating with TechnipFMC to accelerate development of our floating integrated mWaveTM platform solutions for commercial wind farms. With TechnipFMCs extensive track record of delivering large-scale projects to the energy sector and Bomboras innovative mWaveTM technology, we are confident InSPIRE will play a key role in the offshore energy sector, Sam Leighton, Bomboras Managing Director, said.

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TechnipFMC and Bombora Launch Floating Wave and Wind Project - Offshore WIND

From the size and scale of the oceans to the power and speed of the creatures that reside within them, a trip offshore can transform your perspective in ways that have little to do with fishing.

Many dynamics of offshore fishing can be described only in relation to other bluewater experiences. For instance, no matter how many 12-pound largemouth bass youve caught, it doesnt compare to fighting a 500-pound blue marlin or a 150-pound yellowfin tuna.

Read on for an introduction to offshore fishing (and why we think everyone should try it). You dont need to go to a certain location or catch a specific kind of fish. The ocean is an all-encompassing place with endless experiences to pursue.

These days, we live in a largely on-demand society. Were so accustomed to getting what we want immediately that we sometimes forget our planet is more powerful than us (something people living 200 years ago certainly understood).

Time on the ocean provides a great dose of perspective. When youre offshore and all you can see is water in every direction as far as the eye can see you remember that forces beyond our control exist.

Without getting into the metaphysical, this type of perspective can be valuable against the contrast of busy days, working life, and land-divined obligations.

Want to go fishing in Florida? Here are our tried-and-true picks for expert fishing guides that cover a wide variety of species and experiences. Read more

One of the most fundamental differences between freshwater and saltwater fishing is the size of what you might catch. If you put a minnow under a bobber in a lake, you might have a realistic shot at catching three to five species. The maximum size of the fish that you might encounter tops out at 10 or 12 pounds in most cases.

If you drop down a bait offshore, however, you never know what you might get. Not only is the variety of targets far greater, but the size of your quarry can range from half a pound to several hundred. With apologies to the walleye and the crappie, ocean fish can even change your perspective on what constitutes a good meal.

This is no exaggeration. Part of the charm of offshore fishing is the stories of the giant mystery creature that you hooked and couldnt stop. Some of these unseen beasts take all of your line before popping you off. Some are rumored to be submarines.

Not only that, but you can catch really big fish in most places you might snag 8-, 10-, or even 12-foot sharks in the surf. Giant grouper can live surprisingly close to shore, sometimes even under docks. When youre offshore and deploying bait into an environment unseen by human eyes, you have literally no idea what might happen.

You might hook the very fish youre after, only to have it eaten by a shark, grouper, or barracuda. Theres no telling what might swim next to the boat.

Any day offshore might produce a sight youll never forget it doesnt always happen, but you certainly cant guarantee it wont.

Awe infrequently visits most people. But it lives offshore.

Witnessing the size, speed, and power of offshore gamefish inspires awe even in the most seasoned of captains. On land, things that weigh 500 pounds dont fly. Bull elk or moose cant do what a blue marlin can.

Witnessing a giant animal throw itself completely out of the water sometimes traveling 20 or more feet from where it exits to re-entry is an awe-inspiring scene. This feeling is not limited to only the biggest and most glamorous of the oceans gamefish, however.

The interesting thing about the process of becoming an experienced offshore fisher is that its an evolution. The first time you fish offshore could very well change your perspective on what a big fish is.

Maybe your first big fish is a 25-pound jack or 50-pound kingfish. Your next catch might be a 75-pound yellowfin tuna. After that, you might hang into a 200-pound bull shark. Each of these experiences then reframes your point of reference and influences the trajectory of what you might like to do next.

One of the best things about offshore fishing is its availability and wide variety the world over. Oceans cover more than two-thirds of the Earths surface. These days, most any coastal tourist destination offers some form of offshore fishing experience.

A particularly great option for a first trip is to buy a ticket on a party boat (theyre known as head boats in some places). These boats sell reasonably priced tickets for a day of fishing offshore. The benefit of this approach is that you can buy a ticket or two at maybe $80 each without having to rent the entire boat.

These boats usually target schooling fish that are easy to catch and provide all of the tackle, bait, and gear you need. My first time fishing offshore was on a party boat in Port Aransas, Texas, when I was 12. You can catch surprisingly big fish aboard these boats and get to see if fishing offshore is something youd like to do more.

Once you decide the answer is yes, you can incorporate fishing into family vacations and travel plans. This is a great way to see the world, experience new cultures, and catch ever larger, more exciting fish.

Read more from the original source:

The Offshore Fishing Experience: Why You Should Try It - GearJunkie

(Courtesy Siemens Gamesa)

Offshore staff

ZAMUDIO, Spain RWE has contracted Siemens Gamesa Renewable Energy(SGRE) to provide 100 turbines for the 1.4-GW Sofia offshore wind power project.

Located195km (121 mi) off theUKs northeast coast on Dogger Bank in the North Sea,Sofia will be the first project to install the companys flagship 14 MW Direct Drive offshore wind turbine (SG 14-222 DD).

According to SGRE, the turbines will feature the worlds largest single-cast turbine blade at 108 m (354 ft) long.Recently produced, the first three B108 blades will be installed on the SG 14-222 DD prototype in sterild, Denmark, later in calendar year 2021.

Offshore construction works for the Sofia project are expected to start in 2023. Turbine installation is set to begin in 2025.

The firm order is accompanied by a contract to undertake the service and maintenance of the 100 turbines.

03/31/2021

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Siemens Gamesa to provide wind turbines for Sofia offshore the UK - Offshore Oil and Gas Magazine