Energy

Bahrain's National Oil and Gas Authority (NOGA), alongside international consultants DeGolyer and MacNaughton, Halliburton, and Schlumberger, have provided new details on the Kingdom's largest ever discovery of oil and gas, with tight oil amounting to at least 80 billion barrels.

The Aberdeen Renewable Energy Group (AREG) has signed a Memorandum of Understanding (MoU) with The Business Network for Offshore Wind (the Network) in the United States.

In support of the President's “America-First Offshore Energy Strategy,” U.S. Secretary of the Interior Ryan Zinke has announced the proposed lease sale for two additional areas offshore Massachusetts for commercial wind energy leasing, totaling nearly 390,000 acres.

It’s only six months now until the start of the Global Wind Summit in Hamburg, the biggest and most important meeting of the wind industry worldwide.

In support of the Administration’s all-of-the-above energy policy and using every tool available to achieve energy dominance, the Bureau of Ocean Energy Management (BOEM) is conducting a high-level assessment of all waters offshore the United States Atlantic Coast for potential future offshore wind lease locations.

Only one year after the successful commissioning of Taiwan’s pioneering Formosa 1 Phase 1 offshore wind power plant, Siemens Gamesa Renewable Energy (SGRE) has been contracted to supply an additional 120 MW of capacity for Formosa 1 Phase 2.

In support of the President's America-First Offshore Energy Strategy, the Bureau of Ocean Energy Management (BOEM) has announced a Notice of Intent (NOI) to prepare an Environmental Impact Statement (EIS) for the Construction and Operations Plan (COP) submitted by Vineyard Wind LLC that would allow it to construct and operate an 800-megawatt (MW) wind energy facility offshore Massachusetts.

In support of President Donald J. Trump’s America-First Offshore Energy Strategy, Department of Interior’s Assistant Secretary for Land and Minerals Management Joe Balash and Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank have announced that the Department will offer 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama, and Florida for oil and gas exploration and development.

As part of the ongoing review of the Gardline Group’s strategic direction, the Metocean Department within Gardline will be closed. No new assignments will be accepted and all long-term clients have been informed of the closure. Gardline thank their clients, partners and collaborators with whom they have worked over the years.

Researchers from Universidad Politécnica de Madrid (UPM) have developed procedures and designs to obtain energy from marine currents in areas of great depths optimizing the costs.

A consortium comprising Petrobras (30%), ExxonMobil (40%) and Statoil (30%), presented the winning bid for the C-M-657 block in Campos Basin with a signature bonus of 638,550,000 USD*. The same consortium made up of Petrobras (40%), ExxonMobil (40%) and Statoil (20%), presented the winning bid for the C-M-709 block in the Campos Basin with a signature bonus of 450,000,000 USD. Both blocks will be operated by Petrobras.

Against the backdrop of encouraging global economic growth and an improved outlook for the shipping industry, the International Union of Marine Insurance (IUMI) provided its expert opinion on the current state of offshore energy insurance market at its Spring Conference in Hamburg 18-19 March 2018. The content below has been edited for length.