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Wind energy accounts for the 14% in EU electricity

According to data from WindEurope, wind energy in EU accounted for the 14% of its electricity in 2018, experiencing an increase from 2017’s 12%. The increase was due to continued development in capacity and the use of more powerful turbines are helping to increase wind’s share in the electricity mix.

‘Phantom’ volcanoes in North Sea present oil and gas opportunities

Geologists at the University of Aberdeen have discovered a huge area of the North Sea left unexplored for oil and gas because of so-called ‘phantom’ volcanoes that they have proven they do not exist. The area is known as the Rattray Volcanic Province and covers 7000 sq km. The study raised the prospect of future discoveries in the area, which has been left untouched for more than 50 years of exploration activity.

Woodmac: Japan’s offshore wind sector is looking promising

According to Wood Mackenzie, the outlook for Japan’s offshore wind sector is looking positive as its capacity is expected to reach upwards of 4 GW in 2028. This would be a 62-fold increase from last year. Namely, the medium- to long-term outlook for offshore wind in Japan is promising, especially after TEPCO’s participation in offshore wind, the growing offshore pipeline and new policy measures to support wind development.

Trio establishes Japan’s first offshore wind energy fund

Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Development Bank of Japan have established their first fund through Spring Infrastructure Capital, a fund management company jointly established by the three companies. The Fund raises money from Japanese investors and finances and invests in offshore wind power projects overseas.

Rystad: 33 FPSO units to be sanctioned in 2019-2021

A total of 33 floating production storage and offloading units (FPSOs) are expected to be sanctioned from 2019 to 2021, as oil and gas activity picks up in the offshore sector, according to data provided by Norwegian oil and gas research firm Rystad Energy.

BSEE: Poor compliance with safety rules led to fatality on Petrobras drillship

The BSEE issued an investigation report on the fire onboard a Petrobras drillship during pipe handling operations in December 2017, which resulted in one fatality. The report identified poor compliance with procedures and lack of understanding for the drill floor zone areas during operations as key causes of the accident. 

Avalon partners aim offshore exploration well location

Partners in the Total-operated Frontier Exploration Licence (FEL) 2/19, that contains the Avalon prospect offshore Ireland, have licensed multi-client 3D seismic data in an effort to look for possible exploration well locations. 

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