Empire Wind 2 offshore wind project announces reset

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January 4, 2024

Equinor and bp have announced an agreement with the New York State Energy Research and Development Authority (NYSERDA) to terminate the Offshore Wind Renewable Energy Certificate (OREC) Agreement for the Empire Wind 2 project, an offshore wind project in the US with potential generative capacity of 1,260 MW.

This agreement reflects changed economic circumstances on an industry-wide scale and repositions an already mature project to continue development in anticipation of new offtakeopportunities. The decision recognizes commercial conditions driven by inflation, interest rates and supply chain disruptions that prevented Empire Wind 2’s existing OREC agreement from being viable.

Equinor and bp believe offshore wind can be an important part of the energy mix and are committed to maintaining substantial contributions to the state and local economy.

“Commercial viability is fundamental for ambitious projects of this size and scale. The Empire Wind 2 decision provides the opportunity to reset and develop a stronger and more robust project going forward,” said Molly Morris, president of Equinor Renewables Americas. “We will continue to closely engage our many community partners across the state. As evidenced by the progress at the South Brooklyn Marine Terminal, our offshore wind activity is ready to generate union jobs and significant economic activity in New York.”

“bp is supportive of NYSERDA’s leadership and commitment to offshore wind, which we believe is a critical part of New York State’s and America’s clean energy future,” said Joshua Weinstein, bp’s president of offshore wind Americas. “Offshore wind can deliver reliable renewable power as well as economic benefits to the state and its communities.”

The Empire Wind 1 and Empire Wind 2 projects recently reached a key federal permitting milestone, having received the federal Record of Decision from BOEM; last month, Empire Wind 1 also received its Article VII Certificate of Environmental Compatibility and Public Need in New York.

ONE launches Indian Ocean Mediterranean Service (IOM)

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January 4, 2024

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India plays an increasingly important role in world trade, with an export volume of approximately $453 billion for merchandise, with an annual growth rate of 15 percent in 2022, according to World Trade Outlook and Statistics published by the World Trade Organization.

ONE’s new West India North America (WIN) service will offer a weekly route linking Hazira, Nhava Sheva, and Mundra to Savannah. The service will also call at Bin Qasim in Pakistan, as well as Damietta, Algeciras, and Jeddah, which offers further connection to Mediterranean destinations in combination with other services.

“At ONE, we strive to embrace and support our customers’ growth patterns. The rapid move of so many toward India is ripe for collaboration,” said Zach Connors, senior director and head of sales of ONE North America. “Our new WIN service is a flexible and dynamic product, designed to catalyze development of the India-North America market and beyond. Enhanced access to additional growing economies along this new route, by direct call and transshipment, will provide even further value to ONE’s partners in their pursuit of supplier/buyer diversification.”

The new offering will give the Georgia Ports Authority 10 services via the Suez Canal, with nine calling on the Indian subcontinent.

“ONE’s West India North America service recognizes a growing shift in global sourcing, with more manufacturers adding operations on the subcontinent,” said Griff Lynch, Georgia Ports Authority president and CEO. “With the world’s largest population, India also represents a tremendous market opportunity for U.S. exporters. The Port of Savannah is strategically positioned to take advantage of this trend, providing more connections to India for supply chain flexibility.”

The new service will feature a fleet of nine vessels, all of which are operated by ONE. In a statement, ONE said the independent nature of the WIN will provide reliability and flexibility to customers.

“At ONE, we have been committed to the India market since day one, and the new WIN is another milestone for our business,” said Apramapar Singh, general manager of India Marketing at ONE India. “Hazira container terminal is a gateway to the industrially vibrant belt of South Gujarat, North Maharashtra and Central India.”

The main commodities include consumer goods such as electronics, perishables, textiles and chemicals.

Noatum leads digital transformation in port terminals

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January 3, 2024

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The Portos Project and the eGate Project have been submitted to the Recovery, Transformation and Resilience Plan of the Spanish Ministry of Transport, Mobility and Urban Agenda, which is funded by the Next Generation EU recovery fund, and have been awarded a grant within the Ministry’s Sustainable and Digital Transport Support Programme.

The Portos Project creates a multiplatform system for the digitisation, automation and optimisation of port operations processes by means of advanced analytics, artificial intelligence and the IoT. Its primary objective, in line with the objectives of the official call by the Ministry of Transport, Mobility and Urban Agenda, is to reduce congestion in ports, optimise terminal management and increase data processing capacity.

The Portos system will provide comprehensive digital management, eliminate paper and create a substantial improvement in the transmission of information related to the logistics chain, which will result in increased security and efficiency at our facilities.

Meanwhile, the eGate Project, which will be carried out at Autoterminal Barcelona, focuses on the automation and optimisation of entry, exit and cargo control operations within the terminal by means of digital management technologies.

Interoperability between digital platforms is also a key aspect of the eGate Project. The integration of various digital systems will increase the productivity of port hubs, and improve efficiency in the management of the logistics chain. The implementation of new automated access and control systems will facilitate the flow of the logistics chain to a considerable extent.

The beneficiaries of the Portos Project – Digital Terminal Operational Systems – PORTOS (PATSYD-22-00225) are the ports of Malaga, Castellón, Santander, Santander Polivalente, Sagunto, Tarragona, Pasajes and Barcelona terminals.

The beneficiary of the eGate Project – Automation and optimisation of inbound, outbound and cargo control operations through digital management technologies (PATSYD-22-00221) is the Barcelona terminal.

NYK conducts long-term trial use for full-scale introduction of biofuels

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January 3, 2024

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Starting in fiscal 2024, NYK will conduct full-scale trials of long-term use of biofuels, which are considered to have net-zero CO2 emissions, in navigating its existing heavy oil-fired vessels.

Moving forward from the previous short-term trials, NYK will comprehensively verify the safety and stable procurement of biofuels when used over a long period. Through this trial, NYK will establish a safe navigation system using biofuels and promote biofuel development to achieve the Group’s goal of a 45% reduction in greenhouse gas (GHG) emissions by fiscal 2030 compared to fiscal 2021.

In this trial, NYK will use biofuel continuously for three months on multiple vessel types. After that, NYK will gradually extend biofuel use for a longer period for further validation.

Since fiscal 2019, the NYK Group has conducted short-term biofuel trials on about 10 vessels. While NYK has confirmed the safety of short-term biofuel use, NYK has not verified the impact of biofuels on the ship’s main engine, generator, motor, fuel supply system, etc., and the quality of biofuels after a certain storage period. NYK also needed to ensure the stability of biofuel procurement when used in more vessels.

QatarEnergy announces five-year crude supply agreement with Shell

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January 3, 2024

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The agreement stipulates the supply of up to 18 million barrels per annum of Qatar Land and Qatar Marine crude oils to Shell starting January 2024.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said:

“We are delighted to sign our first ever five-year crude sales agreement. This agreement further strengthens QatarEnergy’s relationship with Shell, which is not only a reliable crude oil off-taker, but also a major customer and a strategic partner of QatarEnergy. We look forward to building on our historic relationship and hope we achieve greater success with Shell.”

The agreement highlights QatarEnergy’s strategy in establishing longer-term strategic business relationship and cooperation.

QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally, including QatarEnergy LNG projects, the Pearl GTL Plant, and several other joint investments.

Seatrium secures newbuild FPU contract in U.S. Gulf of Mexico from Shell

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January 3, 2024

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The contract includes the installation of Shell-furnished equipment and follows the Letter of Intent sealed by both parties on 28 August 2023.

The Sparta FPU will be situated in the Garden Banks area of the US Gulf of Mexico, approximately 275 kilometres (171 miles) off the coast of Louisiana. It will feature a single topside bolstered by a four-column, semi-submersible floating hull and is designed to produce 90,000 barrels of oil equivalent per day (boe/d).

Seatrium, a leading global provider of engineering solutions to the marine, offshore and energy sectors, is known for its industry-leading approach in assembling topsides safely and efficiently at ground level, which minimises work-at-height risks for workers. The two-level topside for Sparta will be integrated and lifted to the hull using Seatrium’s game-changing Goliath twin cranes capable of lifting up to 30,000 tonnes.

Mr William Gu, Executive Vice President and Head of Oil & Gas International of Seatrium, said,

“We are deeply honoured that Shell has awarded Sparta, the third FPU newbuild, to Seatrium, following the successful deliveries of the Vito and Whale FPUs. It is a strong affirmation of our team’s capabilities and the long-standing partnership between both parties. We are fully committed to executing the project well, including the single lift operation and fabrication of the FPU to meet its 20,000-psi design for use in harsh weather conditions, and delivering the unit to Shell safely and efficiently.”

The Sparta FPU is conceived as a replicable project between Shell and Seatrium to leverage the Group’s topsides single lift integration methodology, following the Vito and Whale newbuilds, and benefitting from operational synergies. With an extensive experience in complex offshore projects, Seatrium is well-positioned and equipped with cutting-edge technology to deliver high-quality engineering, procurement, installation and commissioning (EPIC) services for fixed and floating production platforms and subsea developments.

Valaris announces multi-year contract award for drillship VALARIS DS-4

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January 3, 2024

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Based on the firm contract term, the total contract value is approximately $519 million, inclusive of mobilization fees and additional services.

The contract is anticipated to commence late in the fourth quarter 2024, following completion of the rig’s current contract with Petrobras, which is expected to finish in September 2024. Upon completion of its current contract, the rig is expected to be out of service for approximately 90 days to complete customer-required capital upgrades prior to commencement of the new contract.

President and Chief Executive Officer Anton Dibowitz said,

“We are delighted to have secured further work for drillship VALARIS DS-4 with Petrobras for their upcoming Buzios program and we look forward to continuing to partner with Petrobras on their programs offshore Brazil, a market where we expect to see continued growth over the next several years. We have previously stated that we expect Valaris’ earnings and cash flow to increase meaningfully as rigs are recontracted at market rates. This contract award for VALARIS DS-4 is a great example of how we are executing on the operating leverage inherent in our business, with the rig repricing from a day rate in the low $200,000s to an effective day rate in the high $400,000s.”

€15M boost to help SolarDuck deliver its first commercial floating solar projects

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December 29, 2023

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This funding sets the company on a path of continued growth, able to further build on its leading position in the Offshore Floating Solar Energy industry, deliver its first commercial projects and increase its impact as the company works towards its goal of deploying over 1 GW of offshore generated solar electricity by 2030.

The funding has been provided by both existing and new investors. An international consortium of Katapult Ocean, Green Tower, Energy Transition Fund Rotterdam and Invest-NL all share SolarDuck’s commitment to accelerating a sustainable supply of offshore energy with offshore floating solar power. With the new funding, SolarDuck is able to extend its leading position by deploying its first commercial projects. In addition, its experienced and dedicated team continues to optimize the technology to build markets around the world and accelerate further roll-out.

As the world is electrifying and a rising world population and urbanization are resulting in land scarcity, the market for offshore energy generation is increasing. SolarDuck’s technology can be deployed in wind-scarce, but sun-rich regions as ‘stand-alone’ offshore floating solar farms. Co-locating SolarDuck technology with offshore wind is also possible, as will be happening in the Dutch North Sea. SolarDuck is aiming to generate a sizeable impact by replacing fossil powered energy sources like coal-fired powerplants and diesel generators. This technology also enables island and offshore installations – and even countries – to set up an independent supply of renewable energy.

SolarDuck has a pipeline of over 3.5GWp and has already secured projects around the world. Amongst other projects, work is being done on a 5MW demonstrator project to be installed at the Hollandse Kust West VII offshore wind park in the Netherlands (North Sea) in collaboration with RWE. When completed, it will be the largest hybrid floating solar plant in existence.

In addition, SolarDuck is providing Japan’s first ever offshore floating solar plant, to be installed in Tokyo Bay with local partners. A third project is underway with TNB Renewables in Malaysia. Ahead of these projects, SolarDuck will launch its offshore demonstrator project named ‘Merganser’ early next year. It will be installed and tested in the Dutch North Sea.

Koen Burgers, CEO & Co-founder of SolarDuck, says:

“We are delighted to have secured this latest round of funding. SolarDuck is introducing a new asset class of energy generation. With demand increasing, offshore floating solar offers real promise for the decarbonisation of our energy supply. This successful funding round provides us with the means to continue the development and deployment of both our Team and technology.”

Fugro adds two geotechnical vessels to its fleet

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December 29, 2023

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The offshore wind market continues to grow rapidly, further supported by the recent decision of the UN Climate Summit COP28 to triple the world’s renewable energy capacity by 2030, a large portion of which is expected to come from offshore wind. The acquisition is in line with Fugro’s strategy to capture this market growth opportunity.

Part of Fugro’s strategy for the coming four years is to secure long term vessel capacity, especially for the global offshore wind market, which has a particularly large need for mapping of soil composition and its associated properties via the extraction and testing of soil samples. For the foreseeable future, these activities cannot be executed with smaller and/or uncrewed platforms.

The addition of these 2 recent vessels (built in 2019 and 2020 respectively) to its owned fleet will further strengthen Fugro’s ability to address the market demands and shortage in geotechnical capable vessels. With the purchase of these strategic assets Fugro will operate a balanced fleet of owned and chartered vessels, maintaining flexibility towards the future.

Upon delivery of Sea Goldcrest in the course of 2024, Fugro will start the conversion to a geotechnical vessel, which is expected to be operational early 2025. Sea Gull, which is already under charter with Fugro and fully operational, will be delivered late 2024 or early 2025.

The purchase of these vessels also supports Fugro’s net zero 2035 roadmap as both vessels are fuel efficient and suitable for the conversion to low-carbon fuels. In addition, Fugro continues to invest in remote and digital solutions, amongst others by further growing its fleet of uncrewed surface vessels.

Vår Energi completes sale of Brage asset

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December 29, 2023

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The sale of 12,2575 percent interest in the Brage Field from Vår Energi ASA to Petrolia NOCO AS, which was announced on 6 October 2023 has been approved by the authorities and was completed today.

Vår Energi CFO, Stefano Pujatti said:

“We are one of the fastest growing E&P companies in the world, doubling production by end 2025. Portfolio optimization is part of our strategy for further growth and long-term value creation. We are pleased with the Brage transaction and will continue the process to identify opportunities to reduce cost and enhance value creation.”

The Brage field is a late life producing asset located in the North Sea, operated by OKEA. The field started production in 1993 and comprises a production, drilling and quarters platform with oil transportation via Oseberg Transport system (OTS) to the Sture Terminal and gas offtake through Gassled. Vår Energi’s net production from the field was 1.5 kboepd in the first nine months of 2023 and had remaining net reserves 1.9 mmboe at year end 2022.The transaction does not impact the company’s previously announced production guidance.