Monthly Archives: April 2022

Danish renewable energy firm rsted, in partnership with Falck Renewables and BlueFloat Energy, has signed an option agreement for developing an offshore wind site off the north-east coast of Scotland.

The companies signed the agreement with Crown Estate Scotland (CES).

The agreement covers the development of a floating wind site with up to 1GW of capacity, which was secured in the recent ScotWind offshore wind leasing round.

The proposed Stromar wind farm is located offshore from Caithness, around 50km east of Wick.

It is intended to further expand rsteds footprint in Scotland.

rsted UK head Duncan Clark said: Our existing offshore wind farms have transformed the areas where we operate strengthening local supply chains and providing people with new jobs and skills that really make an impact on peoples lives.

We now look forward to bringing our expertise to floating wind for the first time and bringing those same benefits to Scotland while also providing the clean energy that will be crucial to a net-zero future.

For the proposed project, rsted will combine its experience in developing and building offshore wind projects with BlueFloat Energys knowledge of developing floating wind projects.

Falck Renewables will also contribute its experience in community engagement in Scotland.

Research work to examine the potential effects of floating offshore wind developments on the marine environment will be carried out in association with the Scottish Association for Marine Science (SAMS).

The companies have also begun working with community ownership consultants Energy4All on a framework to allow local communities and residents to share in the financial benefits of the offshore wind projects.

Earlier this month, rsted and Spanish power company Repsol agreed to explore the development of floating offshore wind projects in Spain.

The partnership aims to help Spain meet its aim to install 3GW of floating offshore wind capacity by 2030.

Ship Agency, Surveys, Maintenance and Project Management Solutions for the Power Sector

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rsted and partners sign agreement for offshore site in Scotland - Power Technology

Chinese CNOOC, the offshore oil and gas producing giant, is getting ready to quit its businesses and assets in the U.S., the UK, and Canada, over concerns that it may come under secondary sanctions over the war in Ukraine, Reuters reported on Wednesday, citing industry sources.

CNOOC has stakes in operating fields in the U.S. Gulf of Mexico, the North Sea, and in Canadian oil sands projects, after it bought Nexen of Canada nearly a decade ago.

CNOOC is estimated to produce around 220,000 barrels of oil equivalent per day (boepd) from assets in the U.S., the UK, and Canada, according to Reuters calculations.

However, according to Reuters sources, the Chinese offshore giant is now preparing to leave the three western markets amid tense China-U.S. relations, especially after the Russian invasion of Ukraine, which China has refused to condemn.

Last week, U.S. Deputy Secretary of State Wendy Sherman told a hearing at the House of Representatives Foreign Affairs Committee that China could become a subject of sanctions if it supports Russia in its war in Ukraine.

It gives President Xi, I think, a pretty good understanding of what might come his way should he, in fact, support Putin in any material fashion, Sherman said, as carried by Reuters.

CNOOC plans to exit its North Sea operations, including one of the top producing oilfields in the UK, Buzzard, banking and industry sources told Reuters in March. The Chinese giant has reportedly hired Bank of America to help it with the sale of the North Sea assets, which could fetch as much as $3 billion, the sources said. Preparations for a North Sea exit are part of a new strategic shift for CNOOC, which looks to focus now on Latin American, African, and domestic offshore assets, abandoning businesses in the mature markets, according to the sources who spoke to Reuters.

By Tsvetana Paraskova for Oilprice.com

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China's Offshore Oil Giant Exits Western Markets Over Sanction Fears - OilPrice.com

HOUSTON--(BUSINESS WIRE)--Hunting PLC, the international energy services group, today announced that it has been contracted to provide titanium stress joints for the Yellowtail development project in the Stabroek Block offshore Guyana.

Huntings Direct Pull-Through installation methodology is intended to simplify installation and enhance safety during project execution.

Hunting is extremely excited for the opportunity to use our worldwide, field-proven technologies to help ExxonMobil reduce costs and increase safety for this project, said Dane Tipton, President of Huntings Subsea Technologies Division.

For more information regarding Huntings titanium stress joints and their Subsea Technologies offerings, visit http://www.hunting-intl.com/subsea-technologies.

About Hunting

Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed public company traded on the London Stock Exchange. The company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.

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Hunting to Support Yellowtail Development Offshore Guyana - Business Wire

Swedish offshore wind developer Hexicon has created a joint venture (JV) company with Greek company EAMAA, named Hexicon Power, to develop floating offshore wind projects off the coast of Greece.

Its creation comes ahead of the launch of Greeces new legal framework for offshore wind this year.

Hexicon formed the JV as part of its strategy to be an early-stage developer in key markets worldwide by collaborating with partners and local companies.

Hexicon CEO Marcus Thor said: Greece has great potential for floating offshore wind power with some of the best winds in Europe.

This is an important strategic move for us. We see great opportunitiesin Greece as they embark on the journey from fossil fuels to renewables.

Hexicon noted that the move will support Greeces plan to increase its renewable energy generation capacity through offshore wind parks, as well as reduce its dependence on fossil fuels.

The country plans to generate 60% of its electricity from renewable sources by 2030.

Hexicon Power will be led by its newly appointed CEO Mikelis Chatzigakis.

Chatzigakis said: We hope that Hexicons advanced technology in floating wind power will be a strong driving force in supporting Greeces clean energy future.

Our floating wind technology can produce high energy output with limited environmental impact.

Greece has enormous opportunities in offshore wind and we are committed to assisting the country (in) reaching its full potential.

Last September, CoensHexicon, a JV between Hexicon and South Korean company Coens, started a JV called MunmuBaram with Shell Overseas Investment.

MunmuBaram will develop and operate a 1.4GW floating offshore wind project in South Korea, located between 65km and 80km offshore from Ulsan.

Shell holds an 80% stake in the JV company, with CoensHexicon owning the remaining 20% interest.

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Swedish and Greek companies join forces to develop floating offshore wind projects - GreekCityTimes.com

WPD Offshore AB has entered into a Memorandum of Understanding (MoU) with the green hydrogen supplier, Lhyfe, to jointly establish and directly connect a facility for green hydrogen production to wpds planned Storgrundet offshore wind farm in Sderhamn, Sweden.

The goal is to achieve a total installed capacity of 600 MW, which makes the project one of the most ambitious green hydrogen projects announced in Sweden and Europe, the Nantes-headquartered Lhyfe said.

The proposed facility is planned to be built in phases, starting in 2025, and is expected to be in full operation in connection with the commissioning of the Storgrundet wind farm.

Lhyfe possesses the key expertise needed for this type of long-term investment and complements wpd in terms of technical skills, Olle Hedberg, CEO at wpd Offshore Sweden, said.

The project and the collaboration with Lhyfe are an important part of our strategic work in the Swedish market, where we are convinced that hydrogen has a crucial role if we are to meet the energy transition and Swedens ambitious climate goals.

The green hydrogen production site will be located close to and interconnected with the Storgrundet wind farm, in order to guarantee the source of green electricity. Lhyfe will design, build and operate it together with wpd.

The installed power planned for the Storgrundet offshore wind farm is 1 GW. For optimal utilization of the hydrogen plant, the planned hydrogen production capacity is 600 MW for a production of about up to 240 tonnes per day, Lhyfe said.

Both the hydrogen plant and the wind farm will be jointly connected to the power grid, which enables optimization also for the electricity market, providing the conditions for participation in the Swedish regulatory market through support services.

The facility is planned to be located on an industrial site in the municipality of Sderhamn, in close proximity to the Storgrundet offshore wind farm. The conditions for grid connection, access to green electricity and sufficient capacity in the initial phase are very good, Lhyfe said. This is said to provide security for establishing the green hydrogen production capacity.

We are very expectant of taking the next step to realize our plans together with wpd, which is an important enabler through its wind farm project Storgrundet, Bjrn Santana Arvidsson, Area Manager Nordics & UK at Lhyfe, said.

wpds strong developments in offshore wind create the long-term cost level for the production of green electricity that is needed to realize large-scale production of green hydrogen at the right cost level, to enable an industrial long-term conversion to fossil-free now! We look forward to continuing to make a decisive contribution to the realization of such projects. The ambition is high, the capacity is solid and the future is secured by us taking the right steps at a fast pace.

The potential for realizing the project at full scale is linked to the development of further processing and/or use of green hydrogen in the same area. The project also sees great potential for connecting to the Nordic Hydrogen Backbone. The various industries and ongoing projects located in the surrounding region represent many potential offtakes for the renewable hydrogen that will be produced on site.

Already during the pre-study phase, both parties have seen great international interest from companies such as e-fuel producers and ammonia manufacturers many international players in these areas are already looking to locate themselves in Sweden, Hedberg said.

We see the interest in our plans in Sderhamn as a clear confirmation from the market that we are right out both in time and place.

Electricity from offshore wind power used to produce green hydrogen is an attractive substitute for fossil energy and fuels in manufacturing processes and transport, Lhyfe said. The green hydrogen can supply the industry, as well as the transport sector with fossil-free energy.

Ola Andersson, Business Manager at Sderhamn Municipality: We welcome this project! In Sderhamn Municipality, we have large assets and great conditions when it comes to suitable industrial sites. This makes us attractive for new establishments of industries. Hydrogen is a market for the future and I hope that the project can attract other industrial players to establish themselves here.

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Lhyfe and WPD Launch Offshore Wind-to-Hydrogen Partnership in Sweden - Offshore WIND

KNOT Offshore Partners LP (NYSE:KNOP) (The Partnership”)

Distribution

The Partnership announced today that its Board of Directors has declared a quarterly cash distribution with respect to the quarter ended March 31, 2022, of $0.52 per unit.

This corresponds to $2.08 per outstanding unit on an annualized basis.

This cash distribution will be paid on May 12, 2022 to all unitholders of record as of the close of business on April 28, 2022.

About KNOT Offshore Partners LP

KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol KNOP”.

Forward looking statements

This press release includes statements that may constitute forward-looking statements. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. Factors that can affect future results are discussed in the Annual Report on Form 20-F filed by the Partnership with SEC. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220413005638/en/

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2022-04-13 | NYSE:KNOP | Press Release | KNOT Offshore Partners LP representing Limited Partner Interests - Stockhouse

ReportLinker

Global Offshore Helicopters Market 2022-2026 The analyst has been monitoring the offshore helicopters market and it is poised to grow by $ 4. 96 bn during 2022-2026 progressing at a CAGR of 4.

New York, April 11, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Offshore Helicopters Market 2022-2026" - https://www.reportlinker.com/p06266689/?utm_source=GNW 94% during the forecast period. Our report on the offshore helicopters 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 of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by an increase in offshore wind power plants, an increase in offshore oil and gas drilling, and O&G price recovery.The offshore helicopters market analysis includes the end-user segment and geographic landscape.

The offshore helicopters market is segmented as below:By End-user Oil and gas Offshore wind industry

By Geographical Landscape Europe APAC North America The Middle East and Africa South America

This study identifies the integration of big data with helicopter avionics as one of the prime reasons driving the offshore helicopters market growth during the next few years. Also, the incorporation of the internet of things (IoT), and increased m&a activity will lead to sizable demand in the market.

The analyst 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. Our report on the offshore helicopters market covers the following areas: Offshore helicopters market sizing Offshore helicopters market forecast Offshore helicopters market industry analysis

This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading offshore helicopters market vendors that include Airbus SE, ASG Helicopter Services, Babcock International Group Plc, The Boeing Co., Bristow Group Inc., Canadian Helicopters Ltd., CHC Group LLC, Cougar Helicopters Inc., Gulf Helicopters Co., Heligo Charters Private Ltd., Leonardo Spa, Lockheed Martin Corp., Omni Helicopter International SA, PHI Inc., Shell plc, Textron Inc., and Abu Dhabi Aviation Co. Also, the offshore helicopters market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.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 analyst 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. Technavios market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.Read the full report: https://www.reportlinker.com/p06266689/?utm_source=GNW

About ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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The Global Offshore Helicopters Market is expected to grow by $ 4.96 bn during 2022-2026 progressing at a CAGR of 4.94% during the forecast period -...