Energy

As required by the Inflation Reduction Act of 2022 (IRA), the Bureau of Ocean Energy Management (BOEM) will publish the Proposed Notice of Sale (PNOS) for an oil and gas lease sale in the Gulf of Mexico, which is scheduled to be held in September 2023.

In an effort to advance offshore wind energy technology and expand the emerging industry’s skilled workforce, Gulf Wind Technology (GWT) has announced it is collaborating with Shell to establish a research, training and technology demonstration program at GWT’s Avondale Global Gateway facility in Jefferson Parish.

Marshall Futureworx, the venture building and advanced technologies arm of Marshall of Cambridge, has unveiled details of the first in a suite of new product lines and services it will be bringing to market to support ever increasing demand for secure and renewable energy.

Eni announces that it has completed the installation of the world's first ISWEC (Inertial Sea Wave Energy Converter) device connected to the electricity grid of an island.

Caledonia Offshore Wind Farm, a proposed 2GW project in the Moray Firth, alongside its developer Ocean Winds is supporting SSERC to develop a new award for the Young STEM Leader Program (YSLP) at Scottish Credit and Qualifications Framework (SCQF) Level 7, equivalent to Advanced Higher.

An industrial scale concept for a floating production unit to produce green ammonia has secured Approval in Principle (AiP) from DNV, affirming the technical feasibility of the design. The project is now ready to start the Basic Design phase.

The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Rystad Energy research shows that annual greenfield capital expenditure (capex) broke the $100 billion threshold in 2022 and will break it again in 2023 – the first breach for two straight years since 2012 and 2013.

The Biden-Harris administration has released the President’s Budget for Fiscal Year (FY) 2024. The budget reflects the Administration’s commitment to ongoing efforts vital to the Bureau of Ocean Energy Management’s (BOEM) mission, which include advancing renewable energy, creating good-paying jobs with a free and fair chance to join a union, bolstering energy security, supporting economic prosperity, and ensuring the reliability and affordability of domestic clean energy.

The collaboration between ocean industries will need to intensify for the rapid buildout of offshore wind and aquaculture to coexist sustainably with other industries and the ecosystem. According to DNV’s Spatial Competition Forecast, the amount of ocean space occupied by installations will grow 5-fold by 2050.

James Fisher Subtech (JF Subtech), provider of specialist technical marine support to the renewables, oil and gas, civil works and salvage markets and part of James Fisher and Sons plc, has signed a charter agreement with Østensjø Rederi AS for the exclusive use of its inspection, repair and maintenance (IRM) and construction vessel, Edda Savanah.

During CERAWeek, Petrobras and Equinor have signed a letter of intent that expands the cooperation between the two companies to assess seven offshore wind power generation projects.

CNOOC Limited has discovered Bozhong 26-6 oilfield in Bohai Sea, which brings another hundred million tons of reserves.