Offshore Support Vessels scrapping has been increased by 153%, because of the large downturn that the offshore industry has seen since 2014-2015. This made more and more companies to scrap their OSVs, rather than keep them. So far in 2018, 43 OSV vessels have been sold for scrap. In the first three months of 2017 only 17 vessels were sold.
Oil and gas company Apache announced that it made a significant oil discovery on Block 9/18a Area-W in the United Kingdom sector of the North Sea. Garten is located 6 kilometers south of the Beryl Alpha Platform. The Garten discovery encountered more than 700 feet of net oil pay reservoirs.
Massachusetts could produce more energy from offshore wind than any other state in the US, according to a new report from the Environment Massachusetts Research & Policy Center. Namely, offshore energy can provide 19 times the state’s annual electricity consumption.
After the US government announced the largest offshore lease sale in US history, calling for bids for 77 million acres in the Gulf of Mexico, oil and gas companies bid for only 815,403 Acres, which is described as a setback of US’s attempt to increase investment in the area.
The Swedish Government assigned the Swedish Energy Agency to investigate ways to remove the grid-connection costs for offshore wind power. The Agency will examine two different models. The first model will move the grid connection point to the offshore wind farm. The second model will use subsidies to wind power producers for a portion of the connection costs.
Starting from April 1, the Bureau of Safety and Environmental Enforcement will increase the physical inspection time offshore platforms. This is an attempt to find ways to make inspections more efficient and reduce helicopter operating expenses. Using technology, BSEE’s inspectors will have more time to inspect operations offshore, ensuring safety at more than 2,200 facilities in the Gulf of Mexico.
The Dutch government has awarded Swedish Vattenfall the permit to build a 700 MW non-subsidised offshore wind farm, in the North Sea, which could produce renewable electricity for 1 to 1.5 million homes. In December, Vattenfall submitted a bid for the first of the two 350 MW slots known as Hollandse Kust I and II.
Pipelines that are connected and a safer, greener and cheaper alternative to LNG could take place in the UK North Sea as part of the TechX Pioneer technology accelerator programme. Each company will receive £25,000 seed funding to develop their business and improve the technology through a 6-week programme, which starts at the Oil & Gas Technology Centre in June 2018.
Statoil will propose to change the name of the company to Equinor. The name change supports the company’s strategy and development as a broad energy company. The new name will be proposed to shareholders to the Annual General Meeting on 15 May. The Norwegian government, as majority shareholder, will vote in favour of the new name.
Qatar Petroleum agreed with the Abu Dhabi Supreme Petroleum Council, Abu Dhabi National Oil Company, United Petroleum Development Co., and Bunduq Company Limited for the continued development and operation of the shared Al-Bunduq offshore oil field.
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