Monthly Archives: May 2022

Luxembourg 11 May 2022 - Subsea 7 S.A. (Oslo Brs: SUBC, ADR: SUBCY) today announced the award of a sizeable1 project by BP for the TOPR project located offshore Trinidad and Tobago, in water depths of up to 280 feet.

The project covers the installation of a 96 kilometres 12-inch pipeline, associated shore approach and diver tie-in spools. Front end engineering and design (FEED) is underway and the EPCI2 scope is scheduled to begin this month.

Project management and engineering will take place in Subsea 7s office in Houston, Texas.

Craig Broussard, Vice President for Subsea 7 US, said: "We are honoured to have been selected for the fast-track delivery of the TOPR project and we look forward to continuing our collaborative relationship with BP.

*******************************************************************************Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industrys partner and employer of choice in delivering the efficient offshore solutions the world needs.

Subsea 7 is listed on the Oslo Brs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

*******************************************************************************

Contact for investment community enquiries:Katherine TonksInvestor Relations DirectorTel +44 (0)20 8210 5568katherine.tonks@subsea7.com

Contact for media enquiries:Ashley ShearerSenior Communications AdvisorTel +1-713-300-6792 ashley.shearer@subsea7.comwww.subsea7.com

Forward-Looking Statements: This announcement may contain forward-looking statements (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as anticipate, believe, estimate, expect, future, goal, intend, likely may, plan, project, seek, should, strategy will, and similar expressions. The principal risks which could affect future operations of the Group are described in the Risk Management section of the Groups Annual Report and Consolidated Financial Statements for the year ended 31 December 2021. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; and (xvii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting;. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this announcement. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise..

See the original post:

Subsea 7 awarded contract offshore Trinidad and Tobago - GlobeNewswire

Dutch energy company Eneco has started the construction of the Maasvlakte 2 onshore wind farm in the Rotterdam harbour area, with a portion of turbine components to be installed using offshore installation techniques.

The wind farm covers a total length of approximately 7.5 kilometres.

The 2.5-kilometre-long hard sea defences consist of a dyke body with a paved surface on top and large boulders in the surf.

The 5-kilometre soft sea defences consist of beach and sand dunes. The wind turbines on the hard sea defences will be positioned on the land side of the dyke. The wind turbines on the soft sea defences will be erected on the beach in front of the sand dunes.

The first monopiles will be transported to the beach of the Maasvlakte industrial area in May, where they will be installed using offshore techniques, Eneco said.

Preparatory construction works such as dune access points and temporary roads started in February. The first crane locations are now ready for use and the work area is ready to start the construction of the turbines, Eneco said.

This is said to be the first time ever that offshore installation techniques such as using monopiles and driving them into the ground using a hammer will be used on an onshore wind farm project.

Using this innovative construction method is necessary in order to create a sufficiently solid base for the 12 wind turbines that will be located on the beach, Eneco said.

Together with turbine manufacturer Vestas, Ballast Nedam is realising the wind farms 22 wind turbines on both hard and soft sea defences.

Follow offshoreWIND.biz on:

Excerpt from:

Onshore Wind Farm to Be Built Using Offshore Techniques - Offshore WIND

With the management capabilities of Ericsson IoT Accelerator, the latest sensors and remote monitoring equipment can be deployed to people and places in a variety of remote offshore use cases and connected in real time.

Frode Stldal, President of Tampnet Americas says: Through our partnership with Ericsson, we are bringing the same IoT connectivity benefits to the offshore industry and enterprises, that land-based companies are benefitting from. In many instances, Tampnet is pioneering new services and business models offshore that are later adopted onshore. Together, we are truly digitalizing the high seas as part of the fourth industrial revolution. These are exciting times for our customers.

Headquartered in Norway, Tampnet owns andoperatesthe largest offshore high-capacity, low latencycommunication networks in the world, including the largest in the North Sea and the Gulf of Mexico.Tampnetsoffshore customersspan the offshore oil and gas, wind energy and maritimeindustries, as well as the carrier market.

More than 8,500 enterprises globally already benefit from the Ericsson IoT Accelerator-powered capabilities offered by CSP partners.

Kyle Okamoto, General Manager IoT, Ericsson, says: Our partnership with Tampnet shows that Ericsson has the capability of delivering IoT management to any enterprise or industry customer, in any work environment. We will work closely with Tampnet to ensure that its customers benefit from Ericsson IoT Accelerator just as we are doing with more than 8,500 other enterprises around the world.

HOW IT WORKS

Through the use of SIM cards, wearables can be deployed to employees, equipment and other assets, enabling instant actions on real-time data and the optimization of planning operations through Tampnets 4G LTE network.

Operations, asset integrity and maintenance teams can collect live data, connect with remote specialists, and turnaround work scopes efficiently with the assurance that all quality checks can be completed and verified in real time.

The level of collaboration possible for day-to-day tasks as well as specialist scopes greatly reduce downtime, improves coordination of people on board and optimizes pre-scope planning, safety and preparation tasks.

PARTNERSHIP

In addition to IoT connectivity management, Ericsson is a long-standing technology partner to Tampnet, providing robust and secure private networks.

Ericsson 4G and 5G private networks - with low latency, high availability, and high performance - are designed to make Industry 4.0 a reality. Ericssons private networks connect industrial sites and assets for greater efficiency and control and people for a safer worker experience.

Meet Tampnet and Ericsson at The Oil & Gas IoT Summit event (12-13 May, Altis Grand Hotel, Lisbon, Portugal)

About TampnetTampnet was founded in 2001 in Stavanger, Norway and operates the worlds largest offshore high capacity communication network in the North Sea and the Gulf of Mexico, serving customers within oil & gas, wind energy, maritime and carrier sectors with first class telecommunications. The company employs more than 100 people, is headquartered in Stavanger, Norway and has offices in the UK, the Netherlands, USA, and Brazil.

More:

and Tampnet bring IoT to offshore industries - Ericsson

Shell and the Spanish energy company Capital Energy have signed an agreement to analyze the joint development of projects in the offshore wind energy sector in Spain and Portugal.

Leveraging their complementary skills and strengths, both companies will explore opportunities in line with their interest in these countries, especially in the field of floating offshore wind power, Capital Energy said.

Shell has more than two decades of experience in the development of wind infrastructure, as well as more than half a century in the field of marine engineering in the North Sea.

Capital Energy, based in Madrid, has, for its part, ambitious growth plans in this sector, with approximately 2,000 MW under development. The company has also signed several agreements with shipyards and other relevant industrial agents in the Canary archipelago.

This agreement demonstrates our firm commitment to offshore wind power and together with Shell we will not only be able to supply green and affordable energy, but also to promote the socio-economic development of those regions where we operate our wind farms, Pablo Alcn, Head of Offshore at Capital Energy, said.

Spain has recently approved a roadmap for the development of offshore wind which calls for the development of 3 GW of floating offshore wind capacity by 2030.

The country plans to carry out its first offshore wind auction, in the Canary region, in 2023.

The roadmap for offshore wind energy in Spain, proposed in December 2021, represents a great opportunity to explore the development of projects in the country that align with our strengths and strategic ambition to be an integrated energy leader. We are very excited to collaborate with Capital Energy in exploring those opportunities, Natalia Latorre, president of Shell Spain, said.

Portugal reportedly plans to hold its first offshore wind auction this summer, with between 3 GW and 4 GW of floating wind capacity expected to be auctioned off.

Follow offshoreWIND.biz on:

More:

Shell Sets Sights on Offshore Wind in Spain and Portugal - Offshore WIND

Scott McCallum, a Partner and renewable energy expert with law firm Shepherd and Wedderburn, examines the challenges facing offshore wind in the latest episode of the Sustainable Scotland podcast.

The UK Government has set an ambition to have 50 Gigawatts (GW) of offshore wind power installed by 2030 - a tough target with only 11GW currently installed and 10GW under construction (or close to it).

McCallum said: "Projects which are in their infancy are going to have to contribute towards those 2030 targets. It can only happen if we manage to deploy offshore wind consistently over a longer period of time.

"We can't afford to have the peaks and troughs we've had to date because we will lose the supply chain, we will lose the developers. And well lose the potential benefits to clean energy that can be achieved within the next few years if we get it right."

The speed at which large offshore wind projects were consented (approved) had to improve, McCallum said.

Some projects are taking a decade or more to be consented - and McCallum said challenging issues, like the impact of wind farms on birds, had to be addressed earlier, at the so-called 'pre-application' stage.

"There are a few big issues, where the Government can give more of a steer," he said. "The big one is the impact on birds and in particular, impacts on European protected sites. That's been a reason for a lot of delays because people argue over the science. They argue over the cumulative impacts and whether all the different projects together are having an adverse effect on some protected sites.

"There is an opportunity to take a more holistic approach to protecting the environment, and protecting birds, and put in place measures to create a better environment for birds in the round."

McCallum also said a more strategic approach was needed to get the power generated by offshore wind into the electricity grid.

"There's a real desire to take a more coordinated approach to the grid - to ensure that every new generating station, every new offshore wind farm that comes along, isn't getting its own grid connection," he said.

"The difficulty just now is that its stalling projects getting started because applicants don't know where they're going to be connecting."

McCallum said both consenting issues and grid connections had to be resolved quickly - but if they were, the future was bright.

He concluded: "The UK has a fantastic wind resource. All the world's main offshore wind developers are very focused in trying to develop projects in the UK. We have a very supportive UK Government, and a very supportive Scottish Government.

"All the parts are there to make this work. There are loads of hurdles we're going to have to overcome but if everyone is aligned in trying to find solutions, I think we can achieve something big where offshore wind can genuinely contribute massive amounts to the energy mix in the UK - in terms of clean energy, affordable energy, and security of supply."

Follow this link:

Sustainable Scotland: UK on verge of "something big" in offshore wind - The Scotsman

Sweden-based Hexicon and Elia Grid International (EGI) have joined forces to connect the wind energy produced by floating offshore wind farms to the onshore grid.

Under the agreement, the partners will develop concepts and projects to integrate large-scale floating offshore wind farms into the onshore power systems.

By doing so, the two companies expect to create the opportunity to harvest the full potential of floating offshore wind to provide clean energy to millions of households and accelerate the energy transition.

The five-year-long cooperation consists of two phases, covering the provision of expertise during the projects pre-development and development phases.

The ability to early plan and design an efficient and robust electrical system is key to the business case and successful projects. Hexicons and EGIs competences are fully complementary and very well matched, said Marcus Thor, CEO of Hexicon.

EGI brings unsurpassed global experience within electrical transmission and large-scale RES integration projects. While Hexicon offers profound deep sea and floating wind knowledge.

According to the partners, they will design the power transmission part of floating wind farms and optimise the connection to onshore power systems.

By solving the technical challenges related to floating offshore wind projects, EGI and Hexicon are hoping to turn floating offshore wind into an attractive market for investors.

Connecting offshore wind technology to the electrical grid system is a complex and costly endeavour. With this cooperation, EGI is committed to providing state-of-the-art expertise and proposing innovative solutions that will unleash the development of cost-efficient, large-scale renewable energy, said Didier Wiot, CEO of EGI.

Potential geographies for the cooperation include the Mediterranean as well as the Baltic and Atlantic Sea basins.

Work is expected to start in June 2022.

Hexicon has its own patented technology TwinWind which consists of a floating foundation with two turbines. The twin-turbine design is said to enable more turbines per sea area, which increases the energy yield and reduces the environmental impact.

Follow offshoreWIND.biz on:

Read the original:

Hexicon and Elia to Optimise Floating Offshore Wind Farm Transmission Connection - Offshore WIND

5/10/2022

Responding to the Queenss speech, Offshore Energies UK (OEUK) said the proposed Energy Bill must create the predictability needed to attract the long-term investment crucial to boosting the nations energy security.

OEUK has called on the government to try to enact the bill by the end of 2022. The aim should be to minimize any uncertainties over the future rules and taxes affecting the industry creating a clear investment landscape.

This would encourage investors to spend the money needed to maintain flows of oil and gas in the short-term while simultaneously allowing those same companies to also build the energy systems of the future such as offshore wind and mass hydrogen production.

The UKs offshore industry is providing the nation with the oil and gas needed to keep homes warm, fuel its vehicles and businesses and generate its electricity, said Deirdre Michie, OBE, chief executive of OEUK.

It is also leading in the development of low-carbon technologies such as carbon capture, hydrogen production and offshore wind. The offshore industry has already invested billions in low-carbon infrastructure with another 250bn of investment planned in the UK continental shelf by 2030. Half of that investment would be in low-carbon technologies like wind power.

Last year the offshore industry and the UK government signed up the North Sea Transition Deal, a partnership aimed at achieving net zero by 2050. The Energy Bill announced in todays Queen's Speech should build on that partnership. Our industry remains committed to working with government. But any period of protracted uncertainty risks undermining investor confidence.

So, its important that this bill is put in place as soon as possible and that it also creates a stable landscape for investors, which in turn is supported by a predictable and competitive tax structure. That would give our industry the confidence to attract investment, support energy security, and help the government reach its target of achieving net zero by 2050.

View original post here:

Offshore Energies UK: Energy Bill must focus on building the investor confidence - WorldOil

Vena Energy Holdings Ltd (Vena Energy), Shikoku Electric Power (Yonden), and Toho Gas have announced the establishment of a consortium for the development of an offshore wind project in Aomori South, Japan.

The site was identified by the Japanese Government as a promising area for the development of offshore wind projects under the Act on Promoting the Utilization of Sea Areas for the Development of Marine Renewable Energy Power Generation Facilities.

According to the consortium, the project is currently undergoing all steps of the development process including the Environmental Impact Assessment (EIA), technical and sustainability-related activities, as well as stakeholders and community engagement, with the intention to participate in the auction following the potential designation of Aomori South as offshore wind promotion area.

With the Aomori South Offshore wind project, we look forward to contributing to the achievement of Japans energy independence and carbon neutrality goals, while empowering and benefiting our local communities and stakeholders, said Juan Mas Valor, Head of Vena Energy.

Japan is aiming to be carbon neutral by 2050 and has set a target of deploying 10 GW of offshore wind capacity by 2030 and 30-45 GW by 2040.

In 2019, the Japanese Government designated three areas offshore Aomori prefecture:Nihon sea (north),Nihon sea (south), and Mutsu bay.

Last year, Iberdrola signed an agreement with Japans Cosmo Eco Power and the engineering firm Hitz to jointly developthe 600 MW Seihoku-oki projectin Aomori prefecture, in the northwest of Japan.

In March 2021, JERA also submitted a Primary Environmental Impact Consideration Document to Japans Ministry of Economy, Trade, and Industry (METI) for a new offshore wind project in Aomori prefecture.

Follow offshoreWIND.biz on:

Here is the original post:

Asia Pacific Companies Team Up on Offshore Wind Project in Japan - Offshore WIND

Equinor has agreed to sell its stakes in two oil and gas fields, in the Norwegian North Sea, to private equity-backed Sval Energi for a cash consideration of $1bn.

Sval Energi will acquire Equinors full stake in the Greater Ekofisk Area, which comprises three fields, and the Tor Unit, and a 19% stake in the Martin Linge field.

Equinor owns a 7.6% stake in the Ekofisk area licences PL018, PL018B, and PL275 that includes the Ekofisk, Eldfisk, and Embla fields, and a 6.6% interest in the Tor Unit.

As part of the deal, Equinor will also sell its 18% stake in the Norpipe oil pipeline that transports crude oil onshore from the Greater Ekofisk Area.

Upon the completion of the deal, Equinor will own a 51% operatorship stake in the Martin Linge field and will have no stake in the Greater Ekofisk Area.

The agreement also includes a contingent payment that is linked to the prices of oil and gas in 2022 and 2023.

Equinor South Norway exploration production senior vice-president Rune Nedregaard said: With this transaction we are optimising our oil and gas portfolio in line with Equinors strategy, capturing value from several of our assets.

Ekofisk has played an important role in Norway and Equinors oil and gas journey as the first producing field on the Norwegian Continental Shelf.

The Greater Ekofisk Area is an area where Equinor has limited participation, and we have therefore decided to sell our position in the area during a period of high prices, and to redirect capital to other core areas for the business.

Sval Energi expects the deal to add 30,000 barrels of oil equivalent per day to its portfolio.

The transaction is scheduled to be completed during the second half of this year and is subject to customary government and licence approvals.

Last month, Equinor announced that it had made a significant oil and gas discovery in the Kveikje prospect, in the Norwegian North Sea.

Read the original post:

Equinor to divest $1bn worth stakes in two fields offshore Norway - Offshore Technology

Australian energy player BHP hassecured acceptance from the countrys offshore regulator for its infill development drilling programme, which will be carried out at a field in Commonwealth waters, offshore Western Australia.

The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) informed on Tuesday that it had approved the Pyrenees phase 4 infill drilling programme, which BHP submitted on 13 December 2021, on behalf of the Pyrenees joint venture partners within production permit WA-42-L, comprising of BHP Petroleum and Santos.

The offshore regulator explained that BHP proposed to undertake infill development drilling activities at the Crosby South Well Centre Crosby-3H1 and Crosby-4H2 well locations and at the Stickle Well Centre tickle-4H1 well location in Commonwealth waters, as part of the Pyrenees development, which covers crude production from fields located in both WA-42-L and neighbouring WA-43-L.

Located approximately 13 km outside the northern boundary of the Ningaloo Marine Park, the proposed activities will be carried out in a water depth of approximately 200 metres. The activities proposed by BHP represent Phase 4 of the ongoing development of the Pyrenees field development programme.

Furthermore, the Australian players planned scope of work entails well intervention for purposes of water shut-off at the Crosby-3H1 location, two horizontal side-track laterals at the Stickle-4H1 well location and potentially a contingent side-track lateral at the Crosby-4H2 well location. Therefore, the companys programme includes the drilling of up to two lateral wellbores from the Stickle-4H1 well centre, subsea well intervention on the Crosby-3H1 well, and a contingent single lateral side-track at the Crosby-4H2 well location.

According to BHP, the Stickle-4H1 dual lateral re-entry has the potential for the largest volume of released hydrocarbons while the Crosby-4H2 single lateral well has the potential to flow, but at a reduced rate and volume compared with Stickle-4H1. On the other hand, Crosby-3H1 is a dual-lateral well which requires artificial gas lift operation in order to produce from the well.

NOPSEMA advised that BHPs operational area for these activities is a 2 km radius around each of the two well centres and the drilling will be undertaken using a semi-submersible mobile offshore drilling unit (MODU). Moreover, the Australian company revealed that both the well intervention for water shut-off at Crosby-3H1 and the two re-entry side-track laterals at the Stickle-4H1 well, and the potential contingent side-track lateral at Crosby-4H2 well will be short in duration.

Given the work scopes would be undertaken consecutively, contingent on weather conditions and unforeseen circumstances, the total campaign duration is estimated to take three to four months, including MODU mobilisation and positioning at each well centre. In addition, BHP stated that the planned drilling activities will be undertaken 24 hours a day, seven days a week.

While the exact date for the infill drilling activities is yet to be confirmed, the earliest anticipated start of this campaign is expected in the second quarter of 2022. However, the environmental assessment allows for the drilling to take place at any time during 2022 and 2023 to account for contingency purposes due to MODU availability and weather constraints.

Based on BHPs records, the Pyrenees operation is made up of six offshore oil fields, which were co-developed with Apache Energy.The fields produce crude oil from six reservoirs via a single stand-alone floating, production, storage and offloading (FPSO) unit, located offshore in the Exmouth Sub-basin portion of the Carnarvon Basin, approximately 45 km northwest of Exmouth, Western Australia.

The FPSO Pyrenees Venture is split between production permit WA-42-L BHP (71. 4 per cent ) and Santos (28.6 per cent) and the adjacent permit WA-43-L, where BHP holds 40 per cent working interest, Santos 31.5 per cent and Inpex the remaining 28.5 per cent.

This FPSO, which is operated by MODEC, can process 96,000 barrels of oil per day and has a combined gas lift/re-injection capacity of 60 million cubic feet per day. In addition, it has an oil storage capacity of approximately 850,000 barrels.

Excerpt from:

BHP cleared to go ahead with infill drilling campaign off Australia - Offshore Energy