After a rough few years, the exploration sector is back in the black, Wood Mackenzie says. Namely, explorers’ success in 2018 shows a disciplined approach that will continue throughout 2019. As Dr. Andrew Latham, vice president, Global exploration, mentions, the sector will experience a long-overdue recovery. Nevertheless, the exploration sector will continue to be an exclusive club in 2019.
The US Department of Energy has announced up to USD 28 million in funding for a new Advanced Research Projects Agency-Energy (ARPA-E) programme to develop new technologies for floating offshore wind turbines using the discipline of control co-design (CCD).
ADX Energy, an oil and gas company, published a statement according to which the Italian Senate has passed a Bill to halt oil and gas exploration activities in permits that have been approved or are in the process of being approved. If the suspension is approved, it will be a period of up to 18 months, aiming to help authorities evaluate the suitability of the exploration areas for sustainable hydrocarbon exploration and production activities (The Plan).
The New York State Energy and Research Development Authority announced the execution of two contracts to study the meteorological and oceanographic (metocean) conditions in the waters off the Atlantic coast of New York, called the New York Bight. The contracts were awarded to Ocean Tech Services and DNV GL. The target date for deployment of these systems is May 2019.
The Federal Maritime and Hydrographic Agency (BSH) is launching its second round of preliminary investigations of offshore wind farm sites on February 1. Three areas are being investigated on which wind turbines will be operating from 2027 and 2028 onwards. The three areas are located in the German Exclusive Economic Zone (EEZ) of the North Sea.
London-based oil major BP announced it will support a call from investor participants of the Climate Action 100+ initiative, for the company to broaden its corporate reporting to describe how its strategy is consistent with the goals of the Paris Agreement. Investors proposed a resolution to be put to shareholders at the company’s annual general meeting in May 2019.
‘The UK Offshore Wind Industry: Supply Chain Review’ was published on January 2019 by, former McLaren Group CEO and Formula One Team Principal, Martin Whitmarsh. The report focuses on urging the UK Government to announce clear targets for offshore wind and commit to an extended pipeline of bi-annual Contracts for Difference (CfD) auctions of more than 2GW of capacity a year.
Noble Energy, U.S. oil and gas company, has launched the jacket for the Leviathan drilling platform offshore Israel. The jacket took 18 months to build. Also, the company stated on November 2018, that the construction of the Leviathan project had been 67% complete, with expected first gas sales on schedule by the end of 2019.
UK’s Oil and Gas Authority (OGA) has launched the Supplementary 31st Offshore Licensing Round in an attempt to maximize economic recovery from the Greater Buchan area of the North Sea. The licensing round gave an opportunity to collaborate and maximise economic recovery to more than 300 million barrels of oil equivalent in the Greater Buchan Area.
According to Rystad Energy’s annual exploration review, ExxonMobil is leader of the pack among the top oil and gas explorers of 2018. This is because of its significant investment in Guyana. Rystad Energy looked at the number of exploration wells, net discovered resources and the value creation from wells drilled in new prospects during 2018.
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