Energy

Sustainability in every sense of the word, ClimateTech and economic success: these terms describe the investment philosophy of econnext AG. The parent company of several ESG-oriented companies for the development of green technologies focuses on so-called scale-ups.

Orbital Marine Power (Orbital), the renewable energy company focused on the commercial deployment of its innovative floating tidal turbine technology, announced it has been awarded an Option Agreement from Crown Estate Scotland for a new tidal energy project in the Westray Firth.

An oil and gas company is under investigation for possibly failing to meet licence commitments designed to stimulate activity, in support of the UK’s energy security. The North Sea Transition Authority (NSTA) is focused on supporting the UK’s security of supply, including through the ongoing 33rd Licensing Round, which attracted 115 bids from 76 companies.

Apollo are pleased to announce the successful contract award from Celtic Sea Power of the pre-FEED contract for the 400MW Pembrokeshire Demonstration Zone Multi-connection Offshore Substation (PDZ MOS) and 2x 1GW MOS’s targeting The Crown Estate Refined Area of Search (RAoS) A.

Lhyfe (EURONEXT: LHYFE) and Centrica have agreed to jointly develop offshore renewable green hydrogen in the UK in a first for the country. The companies have signed a memorandum of understanding (MoU) that could accelerate green hydrogen as part of the energy transition in the UK.

Offshore service company Argeo has signed a survey contract with Stromar, a consortium made up of Ørsted, Renantis and BlueFloat Energy. The contract will start in Q3 2023.

Equinor has entered into an agreement to divest 28% working interest in PL037 (Statfjord area) to OKEA with an effective date 1 January 2023.

Eni announces a new discovery on the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new finding may contain around 200 million barrels of oil (MBoe) in place.

Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced the Final Investment Decision (FID) for Dover, a planned subsea tieback to the Shell-operated Appomattox production hub in the US Gulf of Mexico (GoM).

Aker BP announce that the Frosk field development in the Alvheim area has been successfully completed and production has started on schedule and within budget, only 18 months after the Plan for Development and Operation (PDO) was submitted. Frosk is operated by Aker BP, with Vår Energi as partner.

Shell plc has published its Energy Transition Progress Report 2022, which shows it has again met its climate targets as part of its energy transition strategy. The report will be put to shareholders for an advisory vote at Shell’s Annual General Meeting on May 23, 2023.

The East of England Energy Group’s (EEEGR) flagship Southern North Sea exhibition and conference is back for 2023, and tickets are available now.