Energy

The long-term sustainability of the offshore oil and gas sector is predicated on reducing costs and minimizing projects’ environmental impacts. Drawing off its extensive experience in the electrification of marine assets, Siemens has taken a significant step on the way to helping the industry achieve those goals by supplying the world’s first energy storage solution (ESS) to an offshore drilling rig.

Maersk Drilling A/S (“Maersk Drilling”) and Seapulse Ltd. (“Seapulse”) have signed a Master Alliance Agreement (“MAA”) under which Maersk Drilling will provide fully integrated services, including provision of drilling rigs, related drilling services, well services, and other goods and services, for a global offshore oil & gas exploration drilling program of 12 wells.

According to multiple reports out of Iran and Pakistan, Iranian President Hassan Rouhani has taken renewed a threat to cut off international oil sales from the Persian Gulf. He is quoted as saying, “if someday, the United States decides to block Iran's oil (exports), no oil will be exported from the Persian Gulf.”

On 30 November 2018, NOAA Fisheries issued final authorizations under the Marine Mammal Protection Act to incidentally, but not intentionally, harass marine mammals to companies proposing to conduct geophysical surveys in support of hydrocarbon exploration in the Atlantic Ocean.

The Offshore Energy Research association (OERA) open research portal is now up and running. The portal provides easy access to Nova Scotia tidal energy research project documentation supported by the Offshore Energy Research Association (OERA).

Royal Dutch Shell plc (Shell) announces plans to set short-term targets as part of a long-term ambition to reduce the Net Carbon Footprint of its energy products. The company plans to link these targets to executive remuneration, subject to shareholder approval.

Siemens Gamesa Renewable Energy (SGRE) has received the order for the 487 MW SeaMade offshore wind power project in Belgium from customer Seamade NV.

MAKO Energy Pte Ltd (ME) will be embarking on a tidal energy demonstration project in Singapore using the MAKO.7 tidal turbines, following the signing of a collaboration agreement on 28 November 2018, with the venue host, Sentosa Development Corporation (SDC).

Marine-i will host a special ‘Meet the Buyer’ workshop on 24th January, 2019, to showcase the development of AMOG Consulting Ltd’s innovative Wave Energy Converter Concept.

Global Offshore Wind Energy Market is set to grow from its current market value of more than $21 billion to over $60 billion by 2024; according to a new research report by Global Market Insights, Inc.

The offshore wind farms under development today are moving to more remote locations and increasing in capacity and size, bringing with them a host of new challenges.

Natural gas production in the U.S. Federal Gulf of Mexico (GOM) has been declining for nearly two decades.