Baker Hughes uses virtual reality technology to assist digital design of oilfield equipment.

(Courtesy Baker Hughes)

Offshore staff

LONDON Oil and gas companies and service providers are increasingly adopting virtual reality (VR) technology, according to data analytics specialist GlobalData.

Its report Virtual Reality in Oil & Gas - Thematic Research examines the use of VR for subsurface studies, training and simulation, and for developing and improvising processes and products.

BP, in collaboration with Maersk Training, is applying VR to prepare its offshore drilling teams for real-life challenges, using simulation facilities in Svendborg, Denmark, and Houston to replicate physical conditions during drilling operations.

ConocoPhillips Norway division has created an Onshore Drilling Centre to operate North Sea drilling activities. The facility, which features a 3D visualization suite to form a virtual team of domain experts, evaluates real-time data, also providing 3D visualization of downhole drilling equipment.

Oslo-based Hydro and the Bergen-based Christian Michelsen Research institute have jointly designed a 3D simulator using VR technology known as Cave to support oil and gas operations. Equinor is using the technology to create a 3D simulation of its offshore assets and operations.

Geophysicists, geologists and drilling engineers wearing 3D spectacles can study geologic structures in close detail and observe the various layers of oil, gas, and water present in the reserves.

At its research center in Qatar, ExxonMobil developed a 3D immersive training platform with EON Reality which creates a virtual plant environment to provide knowledge about equipment and processes to plant operators and engineers.

The simulated facility replicates various real-life scenarios such as an unplanned shutdown, abnormal operation, and emergency response in a safe, controlled environment.

Shell is deploying VR with 3D simulation for deepwater safety training for personnel at the Malikai project offshore Malaysia. This is designed to help technicians deal with potential hazards due to unsafe actions and to take appropriate measures to overcome any unforeseen event.

Saudi Aramco is using VR to train its personnel in how to operate critical equipment in oil and gas complexes correctly. In collaboration with Eon Reality, the company has built a practical training platform that demonstrates different processes to be adopted in real-life situations at an oil and gas facility.

Baker Hughes uses VR technology to assist digital design of oilfield equipment. This is said to lead to improved accuracy and clarity about the equipment and working mechanism prior to installation.

Halliburton is applying Microsoft technologies for simulation and 3D modeling of oil and gas reserves and to create designs for digital representation of physical assets.

01/02/2020

Original post:

Report highlights growing take-up of virtual reality technology in offshore market - Offshore Oil and Gas Magazine

This article first appeared in The Edge Financial Daily, on January 7, 2020.

Icon Offshore Bhd (-ve)

TRading of shares in Icon Offshore Bhd (fundamental: 0/3, valuation: 0.3/3), which closed half a sen or 9.09% higher at six sen yesterday, made it to our Stocks with Momentum list for the first time since early October 2018.

At the closing bell, the offshore support vessel player recorded a total trading volume of 56.84 million shares, over 12 times than the average 4.64 million shares it recorded in the past 200 days. The loss-making company aims to turn profitable by the 1Q of this year if its shareholders back its cash call exercise aimed at slashing its debt by over a third, to help strengthen its balance sheet, according to managing director Datuk Seri Hadian Hashim.

Hadian said the focus will then shift to rejigging its business model, while squeezing efficiencies to stay competitive.

In its FY18, Icon Offshore impaired RM419.9 million of its fleets net book value. That led to a net loss of RM449 million on a revenue of RM199.7 million, its biggest full-year loss amid record low revenue. The group has an order book of RM650 million.

Read this article:

Stock With Momentum: Icon Offshore - The Edge Markets MY

W&T Offshore (NYSE:WTI) shares have continued recent momentum with a 31% gain in the last month alone. The full year gain of 18% is pretty reasonable, too.

All else being equal, a sharp share price increase should make a stock less attractive to potential investors. In the long term, share prices tend to follow earnings per share, but in the short term prices bounce around in response to short term factors (which are not always obvious). So some would prefer to hold off buying when there is a lot of optimism towards a stock. One way to gauge market expectations of a stock is to look at its Price to Earnings Ratio (PE Ratio). A high P/E implies that investors have high expectations of what a company can achieve compared to a company with a low P/E ratio.

See our latest analysis for W&T Offshore

W&T Offshore's P/E of 4.13 indicates relatively low sentiment towards the stock. We can see in the image below that the average P/E (11.2) for companies in the oil and gas industry is higher than W&T Offshore's P/E.

NYSE:WTI Price Estimation Relative to Market, January 5th 2020

This suggests that market participants think W&T Offshore will underperform other companies in its industry. Since the market seems unimpressed with W&T Offshore, it's quite possible it could surprise on the upside. If you consider the stock interesting, further research is recommended. For example, I often monitor director buying and selling.

P/E ratios primarily reflect market expectations around earnings growth rates. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. That means even if the current P/E is high, it will reduce over time if the share price stays flat. Then, a lower P/E should attract more buyers, pushing the share price up.

W&T Offshore's earnings made like a rocket, taking off 52% last year. The sweetener is that the annual five year growth rate of 61% is also impressive. With that kind of growth rate we would generally expect a high P/E ratio.

One drawback of using a P/E ratio is that it considers market capitalization, but not the balance sheet. In other words, it does not consider any debt or cash that the company may have on the balance sheet. The exact same company would hypothetically deserve a higher P/E ratio if it had a strong balance sheet, than if it had a weak one with lots of debt, because a cashed up company can spend on growth.

Spending on growth might be good or bad a few years later, but the point is that the P/E ratio does not account for the option (or lack thereof).

Net debt totals 83% of W&T Offshore's market cap. This is a reasonably significant level of debt -- all else being equal you'd expect a much lower P/E than if it had net cash.

W&T Offshore trades on a P/E ratio of 4.1, which is below the US market average of 18.8. While the EPS growth last year was strong, the significant debt levels reduce the number of options available to management. If it continues to grow, then the current low P/E may prove to be unjustified. What we know for sure is that investors are becoming less uncomfortable about W&T Offshore's prospects, since they have pushed its P/E ratio from 3.2 to 4.1 over the last month. For those who like to invest in turnarounds, that might mean it's time to put the stock on a watchlist, or research it. But others might consider the opportunity to have passed.

Story continues

Investors should be looking to buy stocks that the market is wrong about. If the reality for a company is not as bad as the P/E ratio indicates, then the share price should increase as the market realizes this. So this free visual report on analyst forecasts could hold the key to an excellent investment decision.

Of course you might be able to find a better stock than W&T Offshore. So you may wish to see this free collection of other companies that have grown earnings strongly.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.

Continue reading here:

What Is W&T Offshore's (NYSE:WTI) P/E Ratio After Its Share Price Rocketed? - Yahoo Finance

These research scientists can now predict the threshold at which an oil reservoir will produce sand and may collapse: From the left: Dawid Szewczyk, Andreas Berntsen and Lars Erik Walle. Photo: Thor Nielsen.

By Gemini News 01-03-2020 10:20:00

[ByChristina Benjaminsen]

Sand in the oil stream with the risk of well collapse is a well-known problem when sandstone reservoirs approach depletion. Advanced sensors and a super machine are helping research scientists to find the threshold at which profitable production ceases. This can increase the lifetime of reservoirs.

In mature fields on the Norwegian shelf those that have been producing for some time fluid pressure in the reservoir is reduced, resulting in lower resistance to the forces to which the reservoir rock is exposed. These forces cause sand and rock fragments to break loose from the well walls and mix with the oil or gas streams. This is called sand production and is a problem that applies particularly to older fields.

To exploit the resources in developed fields, it pays to produce as efficiently as possible from existing wells, and this requires knowledge of how to produce when the risk of sand production increases. This is what we are now able to predict more accurately, says Andreas Berntsen at SINTEF.

Taming enormous forces

Oil and gas are found primarily in layers of porous sandstone, where they fill pores in the same way as a liquid fills a sponge. Some of the most common reservoirs consist of sand grains that have become cemented together over geological time to form sandstones buried several kilometres below the surface.

If too much sand is produced from a well, it will cause disproportionately high wear and tear on valves and pipes. It can also result in plugging of the well, blocked equipment and reduced productivity. The sand must also be separated from the production stream, cleaned and disposed of.

Wells have to be drilled down into the reservoir to enable production of the oil or gas. When the valves are opened, oil and gas will stream out from the porous rocks into the well and up to the production platform or into pipelines on the seabed.

Reservoirs often lie at a depths of between two to five kilometres and the weight of overlying rock formations will subject the reservoir rock to considerable strain. The areaimmediately adjacent to the well is most vulnerable to damage if the rock is at the limit of what it can withstand, says Euripides Papamichos, the senior research scientist in charge of the project at SINTEF.

Old field of research

Sand production has therefore been an important subject of research for 25 years, both in order to understand the mechanisms at play and also to enable the prediction, handling, limitation or prevention of the phenomenon.

An important element of the research effort is the laboratory testing of sandstone, obtained either from quarries or directly from an oil field. A cylindrical hole is drilled into the sandstone sample, like a small-scale well. The rock is then placed in a pressure chamber where it is subjected to stresses imitating those in a reservoir. Large hydraulic rams apply varying pressure in different directions while oil permeates through the rock and into the well. As the stresses increase, it is possible to observe sand in the oil stream as the rock around the well becomes crushed.

The project is a knowledge-building project for industry (KPI), financed via the Research Council of Norways PETROMAKS 2 programme and by industrial partners. Both industry and academia are represented: Texas A&M in the US, Waseda University in Tokyo and NTNU are research partners, while industry is represented by Aker BP, Wintershall Dea Norge and American companies Hess, Occidental and ExxonMobil.

In the lab we can control pressure and flow and reproduce the stress and flow conditions that exist in various fields. We can also measure sand production and observe how the well walls are eroded. Based on this we can create models of when sand production will begin and how it will develop over time for different rocks. This is much more difficult to measure in the field, so the laboratory tests are valuable, says Berntsen.

Forces impact the reservoir from all directions

The vertical stress is the greatest, while the horizontal stresses are often somewhat smaller. Assuming that the stresses in the horizontal plane are equal in all directions makes the calculations and laboratory tests simpler. Most laboratories are not able to vary them independently anyway. The problem is that this does not represent the real picture in the majority of field situations.

In addition, long, inclined or horizontal wells have become more common and this makes the stress pattern much more complex. We know that rock strength depends on the stress pattern, and this affects sand production. However, only True Triax allows us actually to test the effect of the stress pattern, Lars Erik Walle of SINTEF Industry explains. He is referring to the departments latest major investment, the True Triaxial Test System, which can vary stresses in all three directions.

Specially developed monster machine

The True Triax machine is the only one of its type that can imitate conditions prevailing up to ten kilometres beneath the surface while allowing liquid flow at high temperature. The equipment is specially constructed for this laboratory, weighs ten tonnes and, has an output of 800 tonnes force on rock samples measuring up to half a metre in diameter.

For many years, SINTEF scientists have been developing test methods for studying sand production in the laboratory, but only now does the equipment permit the simulation of truly realistic stress conditions. Work on this project has been going on since 2017, and SINTEF scientists have now enlisted a Ph.D. research fellow at NTNU who will make a specific study of how sand production takes place in gas fields.

From physical measurements to computer models

The physical measurements from the laboratory tests, combined with models and simulations, are being used to develop a software application for estimating sand production.

We are building up a large knowledge base using different sandstones in the tests. However, all rocks are different, so our industry partners send reservoir rock samples direct from the field to be tested by us so that we can calibrate our models. Information from wells is then incorporated into the software, which calculates sand production from various parts of the well under given conditions. In this way the operators can compare different production methods, says Papamichos.

This article appears courtesy of Gemini.no and may be found in its original form here.

The opinions expressed herein are the author's and not necessarily those of The Maritime Executive.

Continued here:

Getting the Most Out of Offshore Oil Wells - The Maritime Executive

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. But as Peter Lynch said in One Up On Wall Street, Long shots almost never pay off.

So if youre like me, you might be more interested in profitable, growing companies, like BW Offshore (OB:BWO). Even if the shares are fully valued today, most capitalists would recognize its profits as the demonstration of steady value generation. Loss-making companies are always racing against time to reach financial sustainability, but time is often a friend of the profitable company, especially if it is growing.

See our latest analysis for BW Offshore

Over the last three years, BW Offshore has grown earnings per share (EPS) like young bamboo after rain; fast, and from a low base. So I dont think the percent growth rate is particularly meaningful. As a result, Ill zoom in on growth over the last year, instead. Its good to see that BW Offshores EPS have grown from US$0.36 to US$0.45 over twelve months. Thats a 24% gain; respectable growth in the broader scheme of things.

I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). BW Offshore shareholders can take confidence from the fact that EBIT margins are up from 14% to 27%, and revenue is growing. Ticking those two boxes is a good sign of growth, in my book.

The chart below shows how the companys bottom and top lines have progressed over time. Click on the chart to see the exact numbers.

The trick, as an investor, is to find companies that are going to perform well in the future, not just in the past. To that end, right now and today, you can check our visualization of consensus analyst forecasts for future BW Offshore EPS 100% free.

It makes me feel more secure owning shares in a company if insiders also own shares, thusly more closely aligning our interests. So it is good to see that BW Offshore insiders have a significant amount of capital invested in the stock. Indeed, they hold US$166m worth of its stock. Thats a lot of money, and no small incentive to work hard. Despite being just 1.4% of the company, the value of that investment is enough to show insiders have plenty riding on the venture.

As I already mentioned, BW Offshore is a growing business, which is what I like to see. If thats not enough on its own, there is also the rather notable levels of insider ownership. The combination sparks joy for me, so Id consider keeping the company on a watchlist. While weve looked at the quality of the earnings, we havent yet done any work to value the stock. So if you like to buy cheap, you may want to check if BW Offshore is trading on a high P/E or a low P/E, relative to its industry.

You can invest in any company you want. But if you prefer to focus on stocks that have demonstrated insider buying, here is a list of companies with insider buying in the last three months.

Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.

Read this article:

With EPS Growth And More, BW Offshore (OB:BWO) Is Interesting - Simply Wall St

The worlds largest operating offshore wind farm the Orsted-run Hornsea 1 will pay 4.5m ($5.9m) over its part in a massive blackout that left more than a million people without power last summer.

The 1.2GW Hornsea 1 off eastern England will pay out after dropping off the network as part of a wider sequence of failures that hit the UK system in August.

Along with a simultaneous disconnection by a gas-fired plant whose operator RWE will pay the same sum the event, triggered by a lightning strike on a transmission line, caused chaos to transport and other critical infrastructure.

UK energy regulator Ofgem, which launched a probe into the blackout, said: Consumers and businesses rely on generators and network companies to provide a secure and stable power supply. August 9 showed how much disruption and distress is caused to consumers across the UK when this does not happen.

That is why it is right that companies that were unable to keep generating have paid into our consumer redress fund.

The Danish offshore wind giant said in a statement sent to Recharge: Together with every organisation involved with the UK electricity system, we work hard to provide a reliable, resilient service and take any interruption very seriously. The power outage on August 9 was caused by an extremely rare sequence of events, involving a number of parties, and the issue we experienced at Hornsea 1 was quickly resolved.

However, in recognition of our role in the outage, we have offered to make a voluntary contribution to Ofgems redress fund. We have co-operated with Ofgem throughout their investigations and conducted a thorough internal review of the events in order to prevent a situation like this from happening again.

We will continue to work hard to bring clean, carbon free electricity to millions of homes across the UK.

Hornsea 1 was at the time of the blackout still under construction and only partly exporting power from its 7MW Siemens Gamesa turbines, the last of which was installed in October.

The rest is here:

World's largest offshore wind farm to pay millions after massive blackout - Recharge

The logo of Swiss rig operator Transocean is pictured ontop of its headquarters on October 2, 2012 ... [+] in Geneva. A Brazilian court has partially lifted a ban on operations of Swiss rig operator Transocean in this country in connection with a major ocean oil spill last year, the company and the court said on October 1. A Transocean statement said Superior Court of Justice President granted a request by the National Petroleum Agency (ANP) to lift a preliminary injunction requiring Transocean to stop its Brazil operations within 30 days. AFP PHOTO / FABRICE COFFRINI (Photo credit should read FABRICE COFFRINI/AFP/GettyImages)

Transocean (NYSE: RIG) has been cutting its rig count to improve utilization since 2016 in keeping with the slowdown in the general environment for offshore drilling operations. We expect consolidation and improved efficiency to be the two biggest themes in 2020 for offshore drilling companies. Trefis highlights trends in Transoceans Revenues over recent years along with our forecast for 2019 and 2020 in an interactive dashboard, parts of which are summarized below.

Transocean is an offshore rig and drilling company based out of Switzerland. It operates in 20 countries and employs 9,000 personnel.

Trefis

Additional details about how Transoceans rig count, day rate and utilization have trended over recent years is available in our interactive dashboard.

Whats behind Trefis? See How Its Powering New Collaboration and What-Ifs ForCFOs and Finance Teams|Product, R&D, and Marketing Teams More Trefis Data Like our charts? Exploreexample interactive dashboardsand create your own

Read the original here:

How Will Transocean Weather The Lull In The Offshore Rig Market? - Forbes

MEDAL WINNERS

GEs 12MW Haliade-X direct-drive prototype was installed in the second half of 2019 in the Dutch port of Rotterdam.

This groundbreaking new offshore turbine sets several new wind industry standards.

First is the huge permanent ring generator, with a diameter of around 11 metres.

Second is the rating of 12MW, although the prototype permitting documents refer to 12-14MW, and well-informed sources claim the turbine is already being offered at the 14MW level.

Third is the 220-metre rotor 218.2 metres according to the permitting documents a world record in either case.

The 107-metre blades weigh 55 tonnes each, which, with the 600-tonne nacelle mass quoted in the permitting documents, adds up to a total head mass of 850-875 tonnes.

The Haliade-X features a state-of-the- art rotor and generator-rotor support solution that comprises a main bearing unit with a hollow shaft for easy hub service access, and two pre-stressed taper-roller bearings.

The latter is a departure from the "pure torque" solution deployed in the 6MW Haliade, but provides a similar air gap stability levels, according to GE.

The rated rotor speed is 7.81rpm, which for a 218.2-metre rotor diameter corresponds to an 89.2m/s rated tip speed, and represents a good compromise between aerodynamic performance and curbing blade leading-edge erosion risk.

SILVER Siemens Gamesa SG 11.0-193 DD Flex

The latest variation of SGREs offshore platform builds on a 1,000 direct-drive track record, with the recently announced upgrade to 11MW already winning a 140-unit contract.

The upgrade narrows the gap to GEs 12MW Haliade-X, and commercial production is due to start in 2022.

The turbines compact "box-type" nacelle enables easier manufacture and transport. Other features include an enlarged generator and 94-metre rotor blades made from C&GFRE.

A key overall objective was creating an optimal setup for utilising the existing mature supply chain, with additional cost savings through reuse of SGREs blade and nacelle factories.

The 11MW turbine has a specific power rating of 376W/m2, against 365W/m2 for the current SG 8.0-167 volume product, both designed for high-wind North Sea applications.

BRONZE Dongfang D10000-185

The typhoon-resistant direct-drive D10000-185 for high wind and IEC I/S has a 185-metre rotor diameter and was the first 10MW Chinese turbine to be announced.

The fully enclosed outer-rotor generator operates at 3.15kV medium-voltage level, against the wind industrys semi-standard of around 1kV.

Together with IGCT-based power electronics , this offers an efficiency improvement of 1-3% compared to low voltage, claims Dongfang.

The 10MW design builds on a 1,200-turbine onshore direct-drive track record, encompassing 3.XMW and the latest 4.XMW platforms.

The in-house manufactured blade features carbon in the structural main beam for a favourable 34-35-tonne mass for a 90-metre unit designed for IEC I (S) loads. Eight pre-series turbines are planned for 2020, with the next envisaged scaling step taking the machine to 12-15MW with a 230-metre rotor.

Link:

Turbines of the year 2019: Offshore turbines - Windpower Monthly

EXCLUSIVE: Sony/Seven Bucks/Matt Tolmach Productions Jumanji: The Next Level is closing in on its predecessor, Jumanji: Welcome To The Jungle. With a $548.8M worldwide gross through January 2, the Dwayne Johnson-starrer now counts $209.7M domestic and $339.1M from the international box office. Comparatively at the same time in release, Next Level is slightly ahead (+3%) of the previous installment overseas and when excluding China. Including the Middle Kingdom, the latest Jake Kasdan-directed adventure is down by about 5%.

The film came on strong last weekend with just a 1% overseas drop and following muscular mid-week business in the Christmas corridor. Along with Disney/Lucasfilms Star Wars: The Rise Of Skywalker ($423M international/$840M global through Thursday), it remains a Top 2 choice in most key markets and is still to roll into Brazil later this month.

The biggest market thus far for Next Level is China with $41.1M (down from Jungles $78M with softer word of mouth in whats been a slower year for Hollywood fare), followed by the UK ($33.37M), France ($20.66M), Germany ($16.57M) and Indonesia ($15.1M). All figures are through Thursday. Domestically, The Next Level exceeded opening expectations in mid-December and should be at $234M by Sunday.

The 2017 Welcome To The Jungle, which acted as strong counterprogramming to Star Wars: The Last Jedi, counted China, the UK, Australia, France and Russia as its top overseas markets, playing to a very high multiple as it continued to beat the drum for weeks until its offshore final of $557.6M and $962.1M global (at historic rates).

The star-studded IP also features Jack Black, Kevin Hart, Karen Gillan, Nick Jonas, Awkwafina, Alex Wolff, Morgan Turner, SerDarius Blain and Madison Iseman, with Danny Glover and Danny DeVito.

The film kickstarted its global publicity tour in late November with a Latin America/Australasian media event in Cabo San Lucas, Mexico. There was also a three-city European tour.

Read more:

Jumanji: The Next Level Rocks To $550M WW, Closing Offshore Gap With Welcome To The Jungle - Deadline

HOUSTON--(BUSINESS WIRE)--Noble Energy, Inc. (NASDAQ: NBL) (Noble Energy or the Company) announced the commencement of natural gas production from the Leviathan field, the largest natural gas field in the Eastern Mediterranean.

David L. Stover, Noble Energys Chairman and Chief Executive Officer, stated, This is a historic day for Noble Energy. The safe and successful execution of the initial phase of Leviathan development has been world-class, continuing our exceptional track record of major project delivery. First gas is online less than three years from project sanction and capital expenditures were $150 million under budget. Combined with Tamar, our Israel assets provide a differential production profile and cash flow outlook for Noble Energy far into the future.

J. Keith Elliott, the Companys Senior Vice President, Offshore, commented, The supply of natural gas from Leviathan will enhance Israels energy resilience, enable further reduction of coal usage for electricity generation, significantly improve air quality and ensure long-term affordable energy for Israel. Leviathan natural gas provides redundancy in supply domestically and helps transition Israel to become a significant exporter of energy to regional and global customers for the first time. I would like to congratulate and thank the many individuals whose unwavering dedication and commitment have been key to bringing Leviathan to production.

The Leviathan field was discovered in 2010, and the initial development phase was sanctioned in 2017. The first phase of development consists of four production wells producing through two 18-inch, 73-mile subsea tiebacks to a processing platform offshore northern Israel. Located approximately 80 miles offshore in 5,500 feet of water, the field is estimated to have recoverable resources of 22 trillion cubic feet (Tcf) of natural gas from 35 Tcf of in-place resource. The first phase of development has a designed production capacity of 1.2 billion cubic feet of natural gas per day.

Noble Energy holds a 39.66 percent working interest in the Leviathan project. Other interest owners include Delek Drilling LP with 45.34 percent and Ratio Oil Exploration LP with 15 percent interest.

Noble Energy (NASDAQ: NBL) is an independent oil and natural gas exploration and production company committed to meeting the worlds growing energy needs and delivering leading returns to shareholders. The Company operates a high-quality portfolio of assets onshore in the United States and offshore in the Eastern Mediterranean and off the west coast of Africa. Founded more than 85 years ago, Noble Energy is guided by its values, its commitment to safety, and respect for stakeholders, communities and the environment. For more information on how the Company fulfills its purpose: Energizing the World, Bettering Peoples Lives, visit https://www.nblenergy.com.

This news release contains certain "forward-looking statements" within the meaning of federal securities laws. Words such as "anticipates", "believes", "expects", "intends", "will", "should", "may", and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect Noble Energy's current views about future events. Such forward-looking statements may include, but are not limited to, future financial and operating results, and other statements that are not historical facts, including estimates of oil and natural gas reserves and resources, estimates of future production, assumptions regarding future oil and natural gas pricing, planned drilling activity, future results of operations, projected cash flow and liquidity, business strategy and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals and other risks inherent in Noble Energy's businesses that are discussed in Noble Energy's most recent annual reports on Form 10-K, respectively, and in other Noble Energy reports on file with the Securities and Exchange Commission (the "SEC"). These reports are also available from the sources described above. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Energy does not assume any obligation to update any forward-looking statements should circumstances or managements estimates or opinions change.

The Securities and Exchange Commission requires oil and gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. The SEC permits the optional disclosure of probable and possible reserves; however, we have not disclosed the Companys probable and possible reserves in our filings with the SEC. We use certain terms in this news release, such as gross recoverable resources, which are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized. The SEC guidelines strictly prohibit us from including these estimates in filings with the SEC. Investors are urged to consider closely the disclosures and risk factors in our most recent annual report on Form 10-K and in other reports on file with the SEC, available from Noble Energys offices or website, http://www.nblenergy.com.

Read the original post:

Noble Energy Announces First Gas From the Leviathan Field Offshore Israel - Business Wire

FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo

(Reuters) - Exxon Mobil Corp said on Monday it had acquired more than 1.7 million acres for exploration offshore Egypt, strengthening its portfolio in the eastern Mediterranean.

Operations at the 1.2 million North Marakia Offshore block located about five miles offshore Egypts northern coast, and 543,000 acres in the North East El Amriya Offshore block in the Nile Delta are scheduled to begin in 2020.

Exxon marked its foray into gas exploration in Egypt by winning awards in one of the countrys largest-ever oil and gas exploration tenders in February.

Egypt Petroleum Minister Tarek El Molla had said that the country expects investments of at least $750 million to $800 million in the first stage of exploration in the total of 12 concessions announced in February.

Italys Enis discovery of the giant Zohr field in 2015, the largest in the Mediterranean and estimated to hold about 30 trillion cubic feet of gas, has raised interest in exploration in Egypt, with the country reaching maritime demarcation agreements with several countries in the region.

Reporting by Shanti S Nair in Bengaluru; Editing by Anil D'Silva and Maju Samuel

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Exxon acquires over 1.7 million exploration acreage offshore Egypt - Reuters

W&T Offshore, Inc. WTI is well poised to grow on the back of massive oil-equivalent reserves in the deepwater Gulf of Mexico.

Headquartered in Houston, TX, W&T Offshore, Inc. is a leading oil and natural gas explorer with operations primarily focused on resources located off the coast of the Gulf of Mexico. This enables the $782-million market cap company to develop significant technical expertise in the major prolific oceanic rift basin.

W&T Offshore, Inc. Price and Consensus

W&T Offshore, Inc. Price and Consensus

W&T Offshore, Inc. price-consensus-chart | W&T Offshore, Inc. Quote

Courtesy of solid prospects, this Zacks Rank #3 (Hold) stock is worth holding on to at the moment.

Whats Driving the Stock?

The prolific oil and gas offshore fields in the Gulf of Mexico (GoM) shelf have been primarily boosting the companys production since its inception. New discoveries in those fields, located at a water depth of 500 feet, will likely boost W&T Offshores production. Notably, the GoM provides unique advantages, including low decline rates, world-class permeability and significant potential reserves that are untapped.

W&T Offshore is growing its presence in the deep-water Gulf of Mexico fields, wherein production grew more than 500% and proved reserves surged nearly 900% over the past eight years. Notably, the company acquired interests in the prospective Heidelberg field in the deep-water Gulf of Mexico. Also, deep-water discoveries made in recent years have enhanced its prospects.

The company recorded 137.8 million barrels of oil equivalent (MMBoe) of proven or 1P reserves in the GoM shelf. In the deepwater GoM, the company has 19.8 MMBoe of 1P reserves. Significant proved reserve bases in both the shelf and deepwater resources will likely contribute to the upstream energy players cash flows.

W&T Offshore closed the Mobile Bay acquisition from ExxonMobil in third-quarter 2019. The assets, located in the eastern region of the GoM, include some onshore processing facilities adjacent to W&T Offshores existing properties. The acquisition is expected to lead to significant synergies and cost savings for the company. Also, this move added net proved reserves of 74 MMBoe to its portfolio. Of the total reserves, the vast majority are categorized as proved developed and producing.

Downsides

There are a few factors that are impeding the growth of the stock lately.

The company expects lease operating expenses through 2019 between $187 million and $193 million, indicating a significant increase from $153.3 million in 2018. Higher operating expenses will deal a major blow to its profits. As liquids comprise majority (53% in third-quarter 2019) of production volumes, the company is prone to oil price-related risks.

Moreover, as of Sep 30, 2019, W&T Offshore had a total long-term debt of $719 million, with cash balance of only $41.7 million, reflecting a weak balance sheet. This can hurt the company's financial flexibility.

To Sum Up

Despite significant prospects as mentioned above, higher operating costs and balance sheet weakness are concerns.Nevertheless, we believe that systematic and strategic plan of action will drive its long-term growth.

Key Picks

Some better-ranked stocks in the energy sector include CNX Resources Corporation CNX, Marathon Oil Corporation MRO and Frank's International N.V. FI, each carrying a Zacks Rank #2 (Buy). You can seethe complete list of todays Zacks #1 Rank (Strong Buy) stocks here.

CNX Resources earnings for the current year have witnessed four upward revisions in the past 60 days versus no movement in the opposite direction.

Marathon Oils earnings for the current year have witnessed six upward revisions in the past 60 days versus one downward movement.

Frank's Internationals bottom line for 2019 is expected to rise 23.8% year over year.

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Here's Why You Should Retain W&T Offshore in Your Portfolio - Yahoo Finance

With the US offshore wind market heating up, Rhode Island-based Atlantic Wind Transfers is emerging as a frontrunner in the race to own and operate crew transfer vessels (CTV) to support the nascent industry.

In December, Atlantic Wind Transfers ordered two new multi-hull CTVs from a US shipyard for delivery in 2020. They would be the companys second and third CTVs, following Atlantic Pioneer, the first such vessel built in the US under the US flag. Operating since 2016, Atlantic Pioneer supports maintenance operations for rsteds Block Island Windfarm, currently the only commercial US offshore windfarm.

Being a pioneer is nothing unusual for Atlantic Wind Transfers founder and president Charles A Donadio, Jr. In 1995, he was operating a successful sightseeing riverboat business out of the Port of Galilee in Narragansett, Rhode Island, when a business opportunity emerged right in front of his eyes.

I was sharing dock space with the Block Island Ferry, Mr Donadio tells Offshore Support Journal, and I could see from my ticket booth that they were selling out on weekends during the summer months, leaving passengers behind at the dock. I saw that they didnt have any competition.

At the time, Block Island Ferry owner Interstate Navigation only operated traditional slow auto ferries to Block Island. Mr Donadio put together a business plan and formed Island Hi-Speed Ferry, LLC, to operate the first high-speed ferry service from Point Judith to Block Island in 1998. After overcoming years of legal roadblocks from Interstate Navigation, Hi-Speed Ferrys 250-passenger Athena, built in 2001 by Gladding-Hearn Shipbuilding in Somerset, Massachusetts, entered service as the first high-speed ferry ever in Rhode Island.

In 2003, Mr Donadio sold his interest in Hi-Speed Ferry to establish Rhode Island Fast Ferry (RIFF). Using the same business model, he established the first fast ferry to market the island of Marthas Vineyard, a much larger market out of Quonset Point, Rhode Island. Ironically, the Athena was acquired by Interstate Navigation in 2006 for its Block Island Ferry service.

Offshore wind first came to Mr Donadios attention in 2011 with the proposed development of Cape Wind, an ambitious 130-turbine windfarm proposed for Nantucket Sound, off of Cape Cod. Hammered by powerful opponents from across the political spectrum from the Kennedys to the Kochs Cape Wind never got off the ground, finally succumbing to several legal and legislative challenges.

Mr Donadio, however, was intrigued by the industry and continued his research and discussions with others in the European offshore wind market, realising that operating CTVs was very similar to the fast-ferry business. We operate high-speed aluminium vessels, carrying passengers. CTVs are a smaller version of that, running passengers and cargo. And, the propulsion technology is similar between the two types of vessels, making CTVs a natural crossover for our captains and crews, he says.

When offshore wind developer Deepwater Wind (since acquired by rsted) issued a tender for a long-term charter of a CTV to support its five-turbine Block Island Windfarm, Mr Donadio was ready. After winning the tendering process, he signed a long-term charter agreement with Deepwater Wind for a CTV on 18 May 2015.

A day after the charter was signed, shipbuilder Blount Boats, based in Warren, Rhode Island, announced it would build Atlantic Pioneer, a 21-m, catamaran-hulled CTV based on a South Boats Isle of Wight design under a contract with Atlantic Wind Transfers.

Built to comply with US regulatory requirements, Atlantic Pioneer was delivered 1 April 2016 with the dual certification of USCG Subchapter T to carry up to 49 passengers and Subchapter L to carry up to 16 offshore workers. The CTVs propulsion system consists of two MAN V12-1400 hp engines, ZF Marine 3050 Gears, and HamiltonJet HM571 waterjets, with sprint speeds in excess of 28 knots.

Atlantic Pioneer can carry up to 12 tonnes of cargo in the bow and three tonnes of cargo in the stern. To facilitate this, the forward and aft decks are outfitted with cargo lashing and container sockets, and a Palfinger knuckleboom crane is fitted in the bow area.

The new CTVs ordered by Atlantic Wind Transfers will also be built by privately held Blount Boats, a relatively small shipyard with a big backstory. The shipyard was founded in 1949 by the late Luthor Blount, a recognised innovator in the US maritime industry. Blount Boats, still controlled by the Blount family, is now building a new generation of vessels for the budding US offshore energy business.

The newest CTVs for Atlantic Wind Transfers will be based on a Chartwell 24 design and customised to meet US operational and regulatory requirements.

Endangered Right Whales

The new CTVs will comply with regulations protecting the migration route of endangered Right Whales off the northeastern seaboard, with a specially adapted catamaran hull. Under the Right Whale Ship Strike Reduction Rule (50 CFR 224.105), vessels that have an overall length of 65 ft (19.8 m) or more are required to operate at speeds of 10 knots or less during Right Whale migration season in the US Atlantic, which runs from 1 November to 1 April. As the CTV will have an overall length under 65 ft (19.8 m), it can operate at normal transit operating speeds.

Besides modifications to meet the US regulatory requirements, designer Chartwell Marine has adapted the catamaran hull to handle Atlantic sea conditions.

Chartwell Marine managing director Andy Page says the design of the CTV was modified to ensure optimal performance for conditions off the coast of New England.

Mr Donadio says that in the coming months more details will be released on the new CTVs, including their propulsion technology. He says the boats will be capable of operating up to 150 miles offshore and will have sprint speeds in the range of 28 to 30 knots, with crew of up to four and capacity to carry 24 technicians very comfortably. Like Atlantic Pioneer, the new CTVs will also be fitted with a Palfinger knuckleboom crane.

The order for the new CTVs comes as the US Bureau of Ocean Energy Management (BOEM) is conducting an environmental impact review of the 800 MW Vineyard Wind offshore wind project, and a cumulative impacts analysis on other offshore wind projects proposed for the US east coast. The review was set in motion after the National Marine Fisheries Service refused to sign off on the Vineyard Wind impact statement. The pace of offshore wind development has also caused concerns among commercial fishermen who feel projects are moving ahead without fully addressing the impact on their industry. BOEM is expected to release the review in early 2020.

BOEM is also expected to conduct a new round of lease sales for offshore wind developments in 2020, including tracts in the New York Bight and offshore California.

Once BOEM releases its review, things could ramp up quickly, says Mr Donadio. Its going to come down to who can get an installation vessel for their project first. We want to be prepared and ready to support the US CTV supply chain.

See original here:

CTV pioneer readies for US offshore wind race - Riviera Maritime Media

by Matthew V. Veazey

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Tullow exec says oil discovery has positive implications for Kanuku and Orinduik blocks, though.

Tullow Oil plc reported Thursday that the Repsol-operated Carapa-1 exploration well offshore Guyana will be plugged and abandoned after encountering less oil pay than expected.

Preliminary interpretation shows that Carapa-1 drilled on the Kanuku license hit approximately 13 feet (four meters) of net oil pay and has extended the prolific Cretaceous oil play into Tullows Guyana acreage, the company noted in a written statement emailed to Rigzone. The firm added that rig site testing revealed the oil boasts a gravity of 27 degrees API and a sulfur content below one percent. It also stated the Carapa discovery suggests the extension of the Cretaceous oil play from the Stabroek license southward into the Kanuku license.

The Carapa-1 result is an important exploration outcome with positive implications for both the Kanuku and Orinduik blocks, commented Tullow Chief Operating Office Mark MacFarlane. While net pay and reservoir development and location are below our pre-drill estimates, we are encouraged to find good quality oil which proves the extension of the prolific Cretaceous play into our acreage.

The Valaris JU-144 (Rowan EXL II) jack-up rig drilled Carapa-1 to a total depth of 10,794 feet (3,290 meters) in 223 feet (68 meters) of water, noted Tullow, whose Tullow Guyana B.V. subsidiary owns a 37.5-percent interest in the Kanuku block. Operator Repsol Exploracion Guyana, S.A. also owns 37.5 percent, and Total E&P Guyana B.V. holds 25 percent.

We will now integrate the results of the three exploration wells drilled in these adjacent licenses into our Guyana and Suriname geological and geophysical models before deciding the future work program, concluded MacFarlane.

To contact the author, email mveazey@rigzone.com.

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Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

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Repsol to Abandon Offshore Guyana Well - Rigzone

Pressure on countries to fulfil energy aspirations alongside keeping the environment clean willfuel their growth

With 18 per cent of the worlds population, India faces the trilemma of achieving higher energy access alongside higher energy security and higher sustainability, according to a Niti Aayog report.

With increasing prosperity, an additional 315 million people almost the population of the United States (US) are expected to live in Indias cities by 2040. This will push the country towards a situation where it has to meet the energy aspirations of its people and also contribute towards keeping the environment clean.

In the decade that just ended, access and transition were buzzwords for the energy sector. These will continue but there will be a definite shift, given the emerging scenario.

While the previous decade was more about solar due to several reasons including falling prices and ambitious targets set by the Union government,in all probability, the buzzwords in the new decade will be offshore and carbon capture.

Due to an ailing coal sector as compared to renewable sources of energy, talk of technologies that can capture carbon has already begun. For instance, many experiments are being carried out in the US state of Wyoming, one the countrys largest coal producers.

Wyoming produces more than 40 per cent of the coal needed to meet the US electrical demand. However, the last few years have not been good for the state as US coal consumption has decreased.

It has reached its lowest level since 1979 because of competition from cheap shale gas and other sources of energy, which are cleaner. Policy makers in Wyoming are now considering advancements in carbon capture the trapping or reusing of carbon dioxide as one part of the solution.

In almost all countries, there is unprecedented pressure on utility companies to move to less carbon-intensive electricity sources. But there is another side of the story too.

It will be tough to meet the total energy demand without relying on thermal energy, that too for a country like India.Though, solar and wind are estimated to constitute half of Indias total power capacity by 2030 according to a report prepared by the Central Electricity Authority, polluting fuels will continue to produce half of Indias electricity by 2030.

To deal with such an issue where coal cannot be avoided, scientists have begun a few experiments to make coal a cleaner option for energy requirement. In Wyoming, an experiment has already begun in Basin Electric Power Cooperatives state-of-the-art coal plant, which has become the worlds only utility with carbon capture laboratories attached.

India will also have to think about such a solution in the future, if the above mentioned experiments bring positive results.

Other than this, India will also be focusing on unexploited offshore wind energy potential. There is a lot of that in the country, which has a 7,600-kilometre-long coastline.

The focus on offshore is increasing partly due to its global rise and partly the slowdown in the onshore wind energy segment. India has added just 3.3 gigawatt (GW) in the past two years, as reported by Down To Earth.

The government of India has already set an ambitious target of developing 5 GW of offshore capacity by 2022, and a further 30 GW by 2030.

We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.

India Environment Portal Resources :

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Coming up in 2020: Offshore, carbon capture to be energy sector's buzzwords - Down To Earth Magazine

To remind how the offshore wind industry developed in 2019, the Offshore WIND editorial team compiled a list of the most read articles as chosen by our readers.

Jan De Nul Orders Mega Jack-Up

Jan De Nul Group has ordered the Voltaire, its third jack-up installation vessel, at COSCO Shipping Heavy Industry in China, in preparation for the wind turbines of the future.

15 Injured After CTV Collides with Cargo Ship Off Rgen

All 15 people aboard the CTV World Bora were injured after the vessel collided with a cargo shipseveral nautical miles northeast of the Rgen island in the German Baltic Sea in the morning of 19 February.

First UK Offshore Wind Farm Disappears from Horizon

E.ON has decommissioned the two-turbine Blyth project, the first offshore wind farm built in UK waters.

Largest Wind Turbine for Largest Offshore Wind Farm

Dogger Bank Wind Farms, which is developing what will become the worlds largest offshore wind farm when built, has unveiled GE Renewable Energy as its preferred turbine supplier.

Swedish Armed Forces Shoots Down Vattenfalls Offshore Wind Farm Project

Swedish energy company Vattenfall and its partner Wallenstam have canceled the Taggen offshore wind project in Sweden after the Swedish Armed Forces said no to the wind farm.

Siemens Gamesa Launches 10+ MW Offshore Wind Turbine

Siemens Gamesa has launched the SG 10.0-193 DD, the companys first 10+ MW offshore wind turbine.

France Reveals Dunkirk Tender Winner

France has selected the consortium of EDF Renouvelables, innogy and Enbridge to construct and develop the Dunkirk offshore wind project.

Wison Unveils New Tower Concept for Deepwater Turbines

Wison Offshore & Marine has launched a novel solution for installing offshore wind turbines in deep waters called BT Wind, which uses a truss buoyant tower for supporting a large turbine.

Haliade X- 12MW Prototype Stands Complete

The third and final 107m blade was installed on theprototype GE Haliade-X 12MW offshore wind turbine in Maasvlakte, the Port of Rotterdam, in mid-October.

Vattenfall Wins Second Dutch Zero Subsidy Offshore Wind Tender

The DutchMinistry of Economic Affairs and Climate Policy has selected Vattenfall as the winner of the zero-subsidy Hollandse Kust (Zuid) III & IV offshore wind tender.

Continue reading here:

Offshore ReWIND: The Most Read News in 2019 - Offshore WIND

Apache Corp. and Total S.A. have announced a joint venture (JV) agreement to explore and develop Block 58 offshore Suriname.

Under the terms of the agreement, Apache and Total will each hold a 50% working interest in Block 58, which comprises approximately 1.4 million acres in water depths ranging from less than 100 m to more than 2100 m. Apache will operate the first three exploration wells in the block, including the Maka Central-1 well, and subsequently transfer operatorship to Total.

In exchange for a 50% working interest, Apache will receive various forms of consideration, including: US$5 billion of cash carry on Apaches first US$7.5 billion of appraisal and development capital; 25% cash carry on all of Apaches appraisal and development capital beyond the first US$7.5 billion; various cash payments in conjunction with closing of the joint venture agreement and future production from joint development projects; and reimbursement of 50% of all costs incurred to date in Block 58. Apache and Total have also agreed to bear their proportionate working interest share of costs on all future exploration wells. The transaction has received all necessary approvals from Suriname and is expected to close within three days. Further details of the terms are outlined on Apaches website.

Suriname Block 58 presents a unique, large-scale oil resource opportunity, and we are very pleased to welcome Total to our existing partnership with Staatsolie, the national oil company of Suriname. Totals extensive offshore operational experience and global footprint make it an ideal partner for a block of this size and potential, said John J. Christmann, CEO and President of Apache. Upon meeting certain drilling commitments, the partnership has the rights to explore the entire block through mid-2026 without acreage relinquishments. This provides for a thorough evaluation of the multiple play types we have identified in this emerging oil-prone basin.

We are very pleased to team up with Apache and Staatsolie, and to become operator of this promising license where we will bring our deepwater expertise. It is indeed a unique exploration opportunity in a prolific basin, said Patrick Pouyann, Chairman and CEO of Total.

Read the article online at: https://www.oilfieldtechnology.com/exploration/02012020/apache-and-total-form-joint-venture-to-explore-suriname-offshore-block/

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Apache and Total form joint venture to explore Suriname offshore block - Oilfield Technology

The Estonian government has initiated a construction permit procedure for Eesti Energias 1GW offshore wind project in the Gulf of Riga.

The move allows the developer to continue its research and search for partners for the construction of the offshore wind farm, Enefit Green, a member of Eesti Energia group said.

According to Aavo Krmas, CEO of Enefit Green, it has been agreed in the Prnu marine spatial plan that the building permit area is well suited for the development of wind energy. Wind, ice and bird surveys carried out so far by Eesti Energia have also shown that the location is suitable for the construction of an offshore wind farm.

The Gulf of Riga offshore wind farm has the potential to become the first joint Estonian-Latvian renewable energy production project, as the Latvian-developed wind farm development area is only 10 km away from the Gulf of Riga. There is no experience of building an offshore wind farm in Estonia, so it is logical that an offshore wind farm of this size will be made in cooperation with several companies. The doors are open for partners to cooperate, said Krmas.

As reported earlier, the representatives from the Latvian and the estonian government met earlier this month to discuss potential cooperation on an offshore wind project in the Gulf of Riga.

Given the cross-border nature of potential cooperation, the importance of cooperation between the Ministry of Economic Affairs and Communications and its Latvian counterpart in agreeing on the infrastructure solution needed to develop the project should be emphasized here. We hope to continue the very good cooperation in this regard, said Krmas.

Eesti Energia started planning the Gulf of Riga wind farm in 2009, and over the course of time primary wind measurements, seabed, ice, and bird surveys have already been carried out.

Up to 160 wind turbines with a total capacity of 1,000MW are planned for the offshore wind farm. The production of such an offshore wind farm would cover almost half of Estonias electricity needs, Enefit Green said.

The wind farm is expected to be completed before 2030.

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Estonia Starts Construction Permit Process for 1GW Offshore Wind Farm - Offshore WIND

EEW Offshore Structures Britain (EEW OSB) has appointed the UK-based professional personnel leasing specialist RTS Wind Recruitment as the main supplier.

RTS has partnered with EEW-OSB for a number of years throughout the Hornsea Project One and has recruited for various different positions all working towards the completion of the transition pieces.

The next project the two companies will be cooperating on is the 1.4GW Hornsea Project Two offshore wind farm for which EEW OSB is producing 30 transition pieces.

RTS is starting the recruitment for the next phase of the onshore fabrication of the Hornsea Two Project in January. Roles available cover plating, welding, outfitting, as well as mechanical and electrical roles.

Hornsea Project Twois located 89 kilometres north-east of Grimsby andwill comprise165 Siemens Gamesa 8MW wind turbines scheduled to be commissioned in 2022.

Bladt Industries will deliver the remaining 135 transition pieces. EEW OSBs parent company, EEW, will manufacture and deliver the monopile foundations.

See more here:

RTS and EEW OSB Team Up on Hornsea Two - Offshore WIND

A MARINE engineering firm has secured an international offshore contract set to power 500,000 homes.

Tekmar Energy, a Newton Aycliffe manufacture, whose products protect offshore wind farm cables from the elements, will supply its TekLink system to contractor Van Oord for Windpark Frysln.

The contractor is a Dutch family-owned company with 150 years of experience as an international marine contractor.

Windpark Frysln is a 382MW near-shore windfarm holding 89 wind turbines.

It is based six kilometers off the Frisian part of the IJsselmeer, near Breezanddijk, in the Netherlands.

Once constructed it is expected to power about 500,000 households in the region and will be the worlds largest offshore wind farm in inland water.

Tekmar Energy is providing 167 cable protection systems for the infield array cables, providing full protection from topside hang-offs through to burial into the seabed.

Russell Edmondson, managing director of Tekmar Energy said: We are delighted that Tekmar has been selected for Windpark Frysln.

This continues our trusted relationship with Van Oord and furthers our position as the world market leader in offshore wind cable protection systems.

The cable protection products will be made in Tekmar Energys state of the art manufacturing facility in Newton Aycliffe.

The deal follows a successful contract which saw the firm selected to by power cable provider JDR Cables, part of TFKable Group, to make a protective coating for undersea cables for a Taiwan windfarm.

Tekmar Energy provided about 60 cable protection systems and a further 60 hang off clamps which hold the subsea cable in place within the turbine transition piece.

The engineering business is one of Tekmar Group PLC's four primary operating companies, in addition to Subsea Innovation, AgileTek Engineering and Ryder Geotechnical.

Tekmar Groups vision is to be the partner of choice for the supply and installation support of subsea protection equipment to the global offshore energy markets.

For more information visit tekmar.co.uk or call 01325-379520.

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Tekmar, in Newton Aycliffe, secures deal at world's largest offshore wind farm in inland water - The Northern Echo