Global offshore wind energy market was valued at $2,727 thousand in 2019, and is expected to reach $11,334 thousand by 2025, registering a CAGR of +20% from 2019 to 2025, said a study.The global offshore wind energy market has been set blazing…
Aker BP finds up to 153 million barrels of oil equivalents in North SeaAker BP has discovered an oil and gas reservoir while drilling near its Alvheim field in the North Sea.Known as Froskelaar (Frog's Leg) Main, the reservoir is estimated to…
The U.S. Department of Energy announced up to $28 million in funding for a new Advanced Research Projects Agency-Energy (ARPA-E) program, Aerodynamic Turbines, Lighter and Afloat, with Nautical Technologies and Integrated Servo-control (ATLANTIS)…
Irish-domiciled multinational oilfield services company Weatherford said it has made a major enhancement to its ForeSite production optimization platform, which combines physics-based models with advanced data analytics to improve performance across wells…
The offshore energy sector, like any industry, is constantly subject to market cycles. Challenging conditions may lower demand, resulting in a significant number of resources such as offshore support vessels (OSVs) and drillships being deactivated for potentially extended periods…
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions…
The U.S. government shutdown has delayed Enterprise Products Partners LP's plan to build a major U.S. crude export terminal off Houston, blocking the pipeline operator from filing paperwork with U.S. regulators, an executive said on Wednesday…
Singaporean conglomerate Keppel Corp posted improved results for the fourth quarter, helped by narrower losses in its offshore and marine division, and said it was seeing signs of recovery in the rig industry.The company on Thursday reported a net profit of S$135 million ($99…
RWE, which will become the world's No.2 offshore wind player following a deal to break up its Innogy unit, could spend about 2.5 billion euros ($2.8 billion) a year to expand its renewables business, its chief executive said.'We can fund about 1…
Damen and High Speed Transfers Ltd (HST) signed a contract for a third FCS 2710 fast crew supply vessel, for delivery in September this year. The FCS 2710 is the replacement for Damen’s FCS 2610 and was first shown to the world in July 2018 with HST as the lead customer…
Tokyo Electric Power Company Holdings (TEPCO) has signed a memorandum of understanding (MoU) with Danish energy business Orsted to work together on offshore wind projects.In a press release, TEPCO said that it had been “exploring offshore wind business opportunities” in both Japan and overseas…
Schottel, the manufacturer of propulsion and steering systems for ships and offshore applications, has made a strategic decision to merge its tidal energy businesses into Sustainable Marine Energy (SME), including UK subsidiary TidalStream Ltd…
Japan’s Inpex Corporation, through its unit Inpex Norge bagged two exploration licenses offshore Norway in Norway’s Awards in Predefined Areas (APA) 2018 licensing round.The PL1027is located in the western Barents Sea offshore and PL1016 is…
A federal court judge on Friday ruled that the federal government cannot process seismic testing permits for offshore oil drilling during the ongoing government shutdown, dealing a blow Trump administration's energy agenda.Judge Richard Gergel of the U…
Spanish offshore industry player Siemens Gamesa Renewable Energy (SGRE) has unveiled a giant new 10+ MW wind turbine it claims will boost yields by 30 per cent, paving the way for a new generation of super-charged offshore wind farms.The turbine maker said in a press release that the new SG 10…
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