Energy

Statoil will in 2018 establish a new onshore integrated operations centre (IOC) that will help increase safety, add value and reduce emissions from their installations on the Norwegian continental shelf (NCS).

Australian-based companies MAKO Tidal Turbines Pty Ltd and Kleinhardt Pty Ltd have signed a Co-operation Agreement with the Autonomous Bougainville Government (ABG) which will see a business case and funding plan developed for a renewable-based electricity grid for the Buka town, underpinned by tidal energy from the Buka Passage.

Achieving American energy dominance has moved one step closer with the approval of Arctic exploration operations on the Outer Continental Shelf for the first time in more than two years. The Bureau of Safety and Environmental Enforcement approved an Application for Permit to Drill. Eni U.S. Operating Co. Inc. submitted the application in August. Drilling the exploratory well from a man-made artificial island in the Beaufort Sea is expected to start as early as this December.

The Borkum Riffgrund Offshore Wind Farm 2 is located in the North Sea approx. 55 km off the north-west coast of Germany and is one of the world’s biggest offshore wind farms. The wind farm consists of 56 wind turbines, and it is going to power 460,000 homes annually.

Talos Energy LLC ("Talos") and Stone Energy Corporation (NYSE: SGY; "Stone") have announced that their Boards of Directors have unanimously approved the combination of Talos and Stone in an all-stock transaction that will create a premier offshore-focused exploration and production company.

Total announces first oil from the Libra mega-field, located in ultra-deep waters 180 kilometers offshore Rio de Janeiro, in the pre-salt Santos Basin in Brazil. The floating production, storage and offloading (FPSO) unit Pioneiro de Libra has a capacity of 50,000 barrels of oil. This start-up of the early production system will generate revenue while also enabling technical data to be collected to optimize the subsequent development phases.

Exxon Mobil Corporation (NYSE:XOM) announces that the Hebron project started production safely and ahead of schedule. At its peak, the project will produce up to 150,000 barrels of oil per day.

Hywind Scotland, the world’s first floating wind farm, will next year be equipped with a battery to store power from the wind farm. The purpose is to “teach” the battery when to hold back and store electricity, and when send power to the grid, thus increasing value of the power.

The first of its kind in the US, the Bourne Tidal Test Site (BTTS) was installed in the Cape Cod Canal during the past two weeks. The day before Thanksgiving the barge, owned by AGM Marine, Inc. pulled up its moorings and be towed back to New Bedford, leaving the BTTS to stand ready for business.

On November 22, 2017, operator Statoil and partners Masdar and Statkraft officially opened the Dudgeon offshore wind farm in Great Yarmouth, UK. Since the investment decision was made in 2014, construction costs have been reduced by more than 15%, from GBP 1.5 billion to approximately GBP 1.25 billion.

Bombora Wave Power Pty Ltd announced the expansion of its European operations with new headquarters to be based in Wales, United Kingdom.

Well-Centric, a leading independent specialist operating in the well integrity and production technology sectors of the oil and gas industry, has secured a contract worth up to £300,000 per year with independent exploration and production company, Chrysaor.