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US Plans to Hold Cook Inlet Drilling Auction in December
The Biden administration on Wednesday revealed plans to hold an auction of oil and gas drilling rights for up to 1 million acres in the Cook Inlet off the coast of Alaska in December.The sale is among the concessions to the oil and gas sector included in U.S. President Joe Biden's new climate change law, the Inflation Reduction Act (IRA).Biden paused drilling auctions on federal lands and waters shortly after taking office as part of an agenda to fight climate change.
Biden Administration Reinstates Bids From 2021 Gulf of Mexico Oil Auction
The Biden administration on Wednesday said it had reinstated bids from a November 2021 Gulf of Mexico sale of offshore oil and gas drilling rights, a requirement buried in U.S. President Joe Biden’s new climate change and drug pricing law.The move comes after a federal judge in January vacated the sale’s results, saying the administration had failed to properly account for the auction’s impact on global warming.The Inflation Reduction act…
US Seeks to Restore Safety Rules Sparked by Gulf Oil Spill
The Biden administration on Monday proposed offshore drilling safety measures that it said would help prevent oil spills and protect workers and the environment.The proposal aims to restore safety provisions put in place by the Obama administration in 2016 following the fatal 2010 BP Deepwater Horizon spill, the worst in United States history.The Trump administration had revised the rules in 2019 to reduce what the oil and gas industry said was a financial burden.The Interior Department…
Ecochlor and SINOTECH Ink MOU
Ecochlor and SINOTECH have announced a new agreement to advance long-term sales, marketing and technical assistance and to foster mutual maritime relationships worldwide.The recent signing of a Strategic Cooperation Framework Agreement, in the form of a Memorandum of Understanding (MoU), has formalized the alliance between Ecochlor, Inc. (USA) and SINOTECH, CCS Co., LTD (China) in sales, marketing…
This Decade's Oil Boom is Moving Offshore - Way Offshore
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects, including some in the remote iceberg waters far off Canada's Atlantic coast.Surging oil prices are encouraging the investments, along with Europe's mounting energy demand as the Ukraine-Russia war drags on. Offshore production sites are more expensive to build than onshore shale, the last decade's investment darling.
MacGregor to Deliver Traction Winch Systems for Chinese Geological Survey Drilling Vessel
MacGregor, part of Cargotec, has been selected to supply two self-contained traction winch systems for a geological survey drilling vessel in China.The vessel is owned by Guangzhou Marine Geological Survey (GMGS), a subsidiary of China’s Ministry of Natural Resources, together with HongHai Marine. HongHai Marine is MacGregor's partner in China, focusing on MacGregor deck machinery integration and service…
Ecochlor Launches “EcoOne Container Unit” for Offshore Market
Ecochlor launched a containerized version of the EcoOne filterless ballast water management system (BWMS), targeting the Semi-Submersible Rigs, Jack-Up Rigs, Drillships, FPSOs, FSRUs and other vessels with infrequent ballasting operations at medium to high flow rates.“The EcoOne Container Unit offers incredible benefits to Mobile Offshore Drilling Units (MODU),” said Andrew Marshall, Ecochlor CEO.
Tech File: Containership Major Adopts Container FiFi System Fleetwide
A.P. Moller - Maersk will equip its fleet with the HydroPen firefighting system from Viking Life-Saving Equipment.With fires inside containers on fully laden containerships remaining a major security risk for the industry, A.P. Moller - Maersk has opted to adopt HydroPen, which is designed for direct firefighting in stacked shipping containers onboard commercial vessels. The contract represents the…
Solstad Offshore Wins AHTS Deals with Equinor, Enauta
Norwegian oil and gas company Equinor has exercised an option to extend the contract for Solstad Offshore's Normand Ferking AHTS vessel for one more year to November 2023.Equinor has the option to extend the contract for a further one year after the expiration of the current contract. Normand Ferking has been on contract with Equinor since 2007 and will continue to support Equinor's activities on the Norwegian Continental Shelf.
Turkey Sends New Oil and Gas Drillship to the Mediterranean
Turkey sent its new hydrocarbons drilling ship to the Mediterranean Sea on Tuesday but President Tayyip Erdogan said it would operate 55 kilometres (34.18 miles) off Turkey's coast, in an area outside waters also claimed by Cyprus.Speaking at the launch ceremony in the southern province of Mersin, Erdogan said the area of operation was within Turkey's sovereign territory and that there was "no need for permission from anyone" for it to drill there.(Reuters - Reporting by Ali Kucukgocmen, Editing
Neptune Awards Vessel Services Deal to Sentinel Marine
Neptune Energy on Wednesday announced the award of a £10 million three-year vessel services contract to Sentinel Marine, to provide offshore support for its operated Cygnus gas field in the U.K. southern North Sea.The contract, awarded following a competitive tendering process, will see Sentinel Marine continue to deploy its multi role, emergency response and rescue (MRERR) vessel Cygnus Sentinel on the gas field. The vessel will also support an upcoming drilling campaign on the Cygnus field.
US Senate Bill Could be Death Blow for Biden Anti-drilling Pledge
U.S. President Joe Biden vowed during his 2020 election campaign to end federal oil and gas drilling as a major step in his strategy to fight climate change.The U.S. Senate Democrats' $430 billion spending bill agreed this week could kill that pledge. If it passes, it would effectively guarantee continued drilling rights auctions on federal lands and waters for at least another decade.Still, with Congress set to begin a summer recess by the end of next week…
Financing and Bankability of Offshore Wind Vessels
In our first article we highlighted some of the key contractual considerations facing shipowners looking to construct and charter offshore wind vessels. In this article we explore some of the considerations concerning the financing and bankability of offshore wind vessels. We have seen a diverse group of financiers interested in financing vessels in the offshore wind sector and, while the nature of the financing available will depend to a large extent on the employment of the vessel…
Saipem Confirms Targets After Return to Core Profit
Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million).Investors this month agreed to fund only 1.4 billion euros of a life-saving 2 billion euro cash call, leaving the underwriting banks to mop up the remaining new shares.
Batteries: Ready to Scale Up
Batteries for maritime power have been picking up big momentum, benefiting from the most basic concept within Econ 101: supply and demand.On May 19 Corvus Energy announced it would establish a lithium ion battery manufacturing facility in Port Bellingham, Wash., just north of Seattle. Corvus Energy is a leading supplier of battery energy storage systems (BESS) for marine applications. Its systems already power more than 30 North American vessels…
Biden Moves to Expand Offshore Wind to Gulf of Mexico
The Biden administration on Wednesday said it had identified 700,000 acres for possible offshore wind energy development in the Gulf of Mexico, seeking to expand a growing clean energy industry to a major U.S. oil and gas hub.It also said President Joe Biden would direct his Interior Department to move ahead with offshore wind development in areas of the Atlantic coast where former President Donald…
Gallery: Allseas' Pioneering Spirit Vessel Removes 11,000t Gyda Offshore Jacket
Offshore installation and decommissioning contractor Allseas said Tuesday it had successfully removed and transported to shore Repsol Norge’s 30,000-tonne Gyda platform "in a matter of days."According to the company, Allseas' Pioneering Spirit, the world's largest offshore construction ship, delivered Gyda platform’s 11,000-tonne jacket to Aker Solutions’ disposal yard in Stord, Norway, less than 48 hours after removing it from the southern Norwegian Sea.
Guyana Races Against the Clock to Bank Its Offshore Oil Bonanza
For the poor, small South American country of Guyana, there's no time like the present when it comes to reaping the rewards of its offshore oil jackpot.With sky-high oil prices, a transition to renewable energy on the horizon, and 750,000 citizens desperate for better lives, Guyana is putting its foot on the gas to exploit its vast oil reserves, even if that means sacrificing some longer-term gains.Already locked into contracts with oil firms that have been criticized for being too one-sided…
Five-year Plan: U.S. to Hold Between Zero and 11 Offshore Drilling Lease Sales
President Joe Biden's administration on Friday unveiled a five-year proposal for offshore oil and gas development in areas of existing production, and said the final plan may have anywhere from zero to 11 lease sales.The range of options, between two auctions a year and none at all, sought to balance the administration's efforts to fight climate change with its calls to increase oil and gas supplies…
Biden Administration Offshore Drilling Plan Delayed
The Biden administration on Thursday delayed the rollout of a proposed five-year offshore oil and gas development plan that had been promised by the end of the month, according to sources.Interior Department Secretary Deb Haaland in May had vowed to unveil the draft proposal ahead of the June 30 expiration of the current plan. The department will not be able to hold any offshore oil and gas lease sales…