Daily Archives: June 30, 2021

(Courtesy Heerema Marine Contractors)

Offshore staff

LEIDEN, the Netherlands Heeremas semisubmersible crane vessel Sleipnir has transported and installed the 2,852-metric ton (3,144-ton) jacket for the Hollandse Kust Zuid (HKZ) transformer platform in the Dutch North Sea.

The six-legged jacket was transported to the HKZ location on the Sleipnirs deck after being picked up in Amoy Fjord, Stavanger, Norway on June 22. Then the vessel and 50-m (164-ft) long jacket sailed to the HKZ location about 22 km (14 mi) offshore Scheveningen, the Netherlands.

This is the Sleipnirs second on the HKZ project. The vessel installed the HKZ alpha jacket in 2020.

The Sleipnir performed the full installation operations while running on emission-reducing LNG fuel. By using LNG, the Sleipnir reduces CO2 emissions by 25%, NOx emissions by 92%, SOx emissions by 99%, and Particulate Matters by around 99% compared to traditional Marine Gas Oil crane vessels, according to Heerema.

(Courtesy Heerema Marine Contractors)

Petrofac, the projects jacket and topsides main contractor, contracted Heerema. Vattenfall is developing the HKZ offshore wind farm. TenneT owns the transformer station.

The HKZ offshore wind farmis due to become fully operational in 2023.

06/29/2021

Excerpt from:

Sleipnir installs second HKZ jacket offshore the Netherlands - Offshore Oil and Gas Magazine

MYTILINEOS, through its Power and Gas Business Unit, Protergia, has signed an agreement with Copenhagen Infrastructrure Partners (CIP), on behalf of its fund CI New Markets Fund I, for the joint co-operation (CIP 60%, MYTILINEOS 40%) in the development of offshore wind parks in sea areas of Greece.

Both companies will contribute to this co-operation, in order to identify appropriate sites and co-develop and co-invest in offshore wind projects, by combining resources and expertise.

CIP is a fund management company specialised in energy infrastructure investments globally, in particular within renewables and the greenfield segment. CIP has approximately 15 billion under management and is the largest dedicated greenfield renewable energy fund globally. CIPs total portfolio of renewables investments is estimated to reduce the equivalent of approximately 10 - 11 million tpy of CO2 and sustainably power approximately 5 - 6 million households each year in the countries where the funds invest.

The principal developer for all the projects to be developed under the CIP-MYTILINEOS co-operation is Copenhagen Offshore Partners (COP), a world leading offshore wind project development, construction and operations company. In collaboration with CIP, COP transfers extensive know-how that boosts the partnership in the increasing competitive offshore wind industry. COP works closely with CIP and since 2015 has been leading the development of numerous offshore wind projects in Germany, UK, Taiwan, US, Australia, Japan, Korea, Vietnam and elsewhere.

Offshore wind is expected to be the largest source of electricity in the EU by 2040. In order for Greece to achieve its national targets, there is an obvious need for a timely and effective legal and regulatory framework.

MYTILINEOS Power and Gas Business Unit aspires to become a catalyst for a low-emission Greek electricity generation mix, by investing in clean energy and innovative applications for a greener future for all. Recently, the company announced the acquisition of a 1.48 GW solar portfolio, as well as a pipeline of storage projects.

Energy Global's Spring 2021 issue

The Spring issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including GlobalData, Atlas Copco, Watlow, QED Naval, TRACTO, AB Energy, and more.

Read the article online at: https://www.energyglobal.com/wind/30062021/mytilineos-and-cip-to-develop-offshore-wind-in-greece/

Originally posted here:

MYTILINEOS and CIP to develop offshore wind in Greece - Energy Global

MYTILINEOS through itsPower & Gas Business Unit - Protergia has signed an agreement withCopenhagen Infrastructure Partners (CIP), on behalf of CI New Markets FundI, for a joint cooperation (CIP 60% / MYTILINEOS 40%) in the developmentof offshore wind farms in sea areas of Greece.

Both companies will contribute to this cooperation, in order to identifyappropriate sites and co-develop and co-invest in offshore wind projects,by combining resources and expertise.

CIP is a fund management company specialised in energy infrastructure investmentsglobally, in particular within renewables and the greenfield segment. CIPhas approximately EUR 15 billion under management and is one of the largestdedicated greenfield renewable energy funds globally.

The principal developer for all the projects to be developed under theCIP- MYTILINEOS cooperation is Copenhagen Offshore Partners (COP), an offshorewind project development, construction and operations company. In collaborationwith CIP, COP has supported the development of numerous offshore wind projectsin Germany, UK, Taiwan, USA, Australia, Japan, Korea, Vietnam and elsewhere.

General Manager of the Power & Gas Business Unit Mr. Dinos Benroubicommented: "We are proud to collaborate with world leaders in offshorewind projects and we are looking forward to a fruitful cooperation thatwill enhance both the energy strategy of MYTILINEOS and Greece's energytransition."

CIP Partner Michael Hannibal said: "CIP is pleased to join forceswith MYTILINEOS exploring a new offshore wind market. It will be a floatingoffshore wind dominated market, and we look forward to bring our globalexperience and working with MYTILINEOS and local partners to develop goodprojects in Greece."

View post:

Mytilineos and CIP partner for offshore wind - 4C Offshore

Last year saw the lowest number in recordable injuries on record for offshore wind technicians, according to a new report from G+.

In 2020 the total recordable injury rate was 3.7% compared to 5.5% in 2019.

To further expand the reach of the G+ 2020 incident data report to front-line workers, G+ has launched its second annual incident data report summary aimed at technicians.

In the reports key findings 25% of lost work day injuries (LWDI) in 2020 occurred during manual handling activities.

This is an 83% increase from 2019.

The most common consequence of a manual handling injury or incidence was a first aid injury and the majority of these injuries were mostly to the hand.

Around 12% of injuries occurred during lifting activities an a further 12% occurred during accessing and egressing.

Walking from A to B represented 9% of lost work day injuries, while 21% of lost work day injuries occurred in other work processes which accounted for smaller percentages of injuries.

These include, but are not limited to, working at height, working with electrical systems, climbing, and routine maintenance.

Original post:

Offshore wind technician injury rate drops to lowest level - reNEWS

3D at Depth and SEA.O.G Offshore announce a collaboration for reducing carbon emissions in subsea survey operations.

The partnership brings together a fully integrated approach to field integrity and logistical operations for maintenance and asset health monitoring. The initial focus will be the increasing market for Offshore Wind and Oil and Gas. The operational know-how to execute disruptive technology successfully has been demonstrated by both companies independently over the last eight years bringing cost reduction and high-value services with integrity data to offshore energy companies internationally.

Neil Manning, Chief Operating Officer, 3D at Depth, stated "3D at Depth from its conception is a disruptive technology business which focuses on leveraging its in-house product line with integrated project execution and efficiencies. We believe this starts with the sensing technology followed by supervised autonomous in-water vehicles providing fully integrated platforms." Manning continues, "This approach is baked into both companies DNA making an obvious alignment with SEA O.G Offshore and its disruptive technology applications. I'm excited to see what this partnership can do and look forward to announcements set to release over the coming months. A prime example of thinking out of the box and a disruptive approach is the SEA O.G Offshore adaptable barge concept and our integrated Sabertooth vehicle platform, which shows how mobile we are, and the deployment solutions offered by Sea O.G Offshore make this partnership exciting across all marine market verticals."

Mike Arnold, Director, SEA O.G Offshore stated, "We are extremely excited to be collaborating with 3D at Depth and focusing on niche markets with smart, professional, cost-effective solutions; always with a primary focus on health, safety, and the environment. Our novel solutions, soon to be released, will be aimed at reducing carbon emissions dramatically for day-to-day subsea operations. Moving away from less effective traditional methodologies and taking a more focused, left-field approach, will reduce carbon emissions, reduce task timings, and will ultimately be more cost-effective. From our regions, we can actively support the offshore renewables and legacy Oil and Gas Markets."

The Range of Services includes: Rig and Platform Site Surveys; Geohazard Surveys; Wind Farm Site Surveys; Pre-Engineering Surveys; Clearance Surveys including UXO; Ice Gouge Surveys; Multibeam Echosounder Surveys in shallow and deep water; Pre-and Post-Lay Pipeline Route Surveys; Deepwater Site Developments; LNG and FPSO Offloading Facilities; Intercoastal Waterway Air Gap Surveys; Intercoastal Waterway Feedering; SMART ADAPT Barge Technology; Marine and Offshore Transportation Support; Heavy Load Marshalling and Loadout; Subsea Technical Solutions; Project Management and Consultancy.

About 3D at Depth:3D at Depth, Inc. is the world's leading expert incommercial Subsea LiDAR laser technology. Our advancedSubsea LiDAR laser (SL) systems and subsea survey services help customers transform the value of underwater 3D data. From data collection and processing, through visualization and analysis, 3D at Depth delivers precise, accurate, repeatable, millimetric 3D point clouds to measure, map, and evaluate underwater assets and environments. The Company's locations in Australia, Europe, and the United States support customer survey operations around the world. For more information and a broader listing of services visit us at http://www.3datdepth.comandLinkedIn, or follow us on Twitter @3DatDepth.

About SEA O. G. Offshore:SEA.O.G Offshoreis a field-tested integrated service provider to the offshore energy industry. With a dedicated team of more than 50 professionals, they have extensive industry experience in Wind Turbine Generator transport, trusted by the biggest names in wind. Nearly 5% of the entire installed capacity for 2020 were large rotor diameter turbines transported under their supervision. The team has supported technical marine operations of over 35,000 lifts for wind OEMs in more than 35 North American ports. Services for the offshore industry include subsea support, turnkey receiving, marshalling, and offshore delivery of WTGs and Foundation. Through the novel approach to offshore feedering they can offer more uptime than any other operator while improving safety, cost, and performance efficiencies through the application of advanced technology, marshalling methods, and a robust newbuild strategy.

We aim to advance the offshore energy industry with our technical expertise by providing environmentally conscious, fully integrated project management solutions while prioritizing the health, safety, and development of our workforce. http://www.seaofgravity.com

Media at 3D at Depth

Media Contact:3D at Depth:Jenna Pearson [emailprotected]

SOURCE 3D at Depth, Inc.

3datDepth.com

Original post:

3D At Depth And Sea.OG Offshore Announce A Collaboration Focused On Fully Integrated Sustainable Survey And Integrity Solutions To The Offshore Energy...

Chinese shipyard CIMC Raffles has teamed up with local authorities in its home city of Yantai to consolidate their activities in the offshore engineering and fish farming industries.

The pair on Wednesday agreed to form a new entity incorporating CIMC Raffles's assets and in which the Yantai government-owned Yantai Guofeng Investment Holding Group will invest 835 million yuan ($130 million) in return for a 16.7% stake.

The new company, Yantai CIMC Raffles Offshore Technology Group, will continue to focus on offshore engineering, procurement and construction, with its product lines including facilities for offshore oil and gas and renewable energy, such as wind and solar.

Established in 2009, Yantai Guofeng has registered capital of 10 billion yuan and total assets worth 160 billion yuan. It has stakes in more than 20 state-owned companies in Yantai.

Also on Wednesday, two CIMC Raffles-affiliated companies CIMC Offshore Holdings and CIMC Offshore Engineering Research Institute signed a deal with three local Yantai-government owned companies to form Yantai Marine Protein Group, a joint venture that will focus on fish farming.

The trio of government-owned entities are Yantai Guofeng Investment Holding Group, Yantai Yeda Economic Development Group and Yantai Changdao Tourism Group.

Gao Xiang, president of CIMC Raffles' parent company China International Marine Containers (CIMC), said that the new entity is committed to building Yantai into an international hub for offshore engineering, which will help provide solutions to achieve Chinas targets of a carbon emissions peak in 2030 and carbon neutrality by 2060.

CIMC Raffles is one of the most versatile yards in China, with products stretching from different kinds of rigs to floating production, storage and offloading vessels to accommodation barges and floating production units.

It also has product lines for offshore renewable energy projects covering wind installation and service vessel and floating turbines, as well as fish farms, wind-related hydrogen generators, carbon dioxide transportation vessels, seawater desalination units and offshore photovoltaic systems.

Go here to see the original:

CIMC Raffles hooks up with Yantai powers in offshore and fish farm drive - Upstream Online

Illustration of a floating turbine.

The developer behind plans to build a 200-turbine offshore wind development off the coast of Shetland has announced its first partner.

Cerulean Winds has named NOV, one of the largest providers of marine equipment and wind vessel designs in the world, as a partner on the project.

Led by entrepreneurs Dan Jackson and Mark Dixon, Cerulean Winds announced its ambitious 10 billion plans earlier this month, pledging it would result in lower energy costs for islanders and create around 200,000 jobs in the floating wind and hydrogen sectors.

Mr Dixon said he was very pleased by NOVs involvement in the project.

As the largest and most qualified provider of marine equipment and wind vessel designs working in this space, the experience and knowledge they will bring to a project of this magnitude is second to none.

Having them on board brings the scheme a step closer to reality.

Cerulean Winds says the project will have the capacity to more than halve the 18 million tonnes of CO2 the UK continental shelf currently produces by 2025.

Read the original post:

Cerulean Winds names first partner for proposed 200-turbine offshore wind project - Shetland Times Online

This article provides a brief overview of the essence and thepayment procedure of the so-called offshore tax in Kazakhstan.

First of all, it should be noted that in Kazakhstan, for thetaxation purposes, an offshore is recognised as a foreign state ora territory which answers one of the following criteria:

On the basis of the abovementioned criteria the Ministry offinance of the Republic of Kazakhstan approves the list ofoffshores which as of today includes 79 states andterritories2.

The interaction between the tax residents of Kazakhstan and thepersons registered in the offshores may entail the offshore taxobligation in Kazakhstan.

Thus, if a legal entity registered in one of such offshoresreceives any type of income (fee for the services, dividends etc.)from a legal entity, recognised as the tax resident ofKazakhstan3 , such income will be subject to withholdingtax at the rate of 20%4 . Moreover, it should be notedthat such income will not fall under the tax exemptions which aregenerally available under the Kazakh tax legislation (for instance,a lower withholding tax rate in respect of royalty or a fullwithholding tax exemption in respect of capital gain).

In the abovementioned situation, the obligations on calculation,withholding, transfer to the budget and reporting of withholdingtax rest with the tax resident of Kazakhstan in the capacity of atax agent5 . In particular, withholding tax shall bepaid prior to 25th of the month following the month inwhich income was paid to the person registered in theoffshore6 . And reported in the following order:

However, an opposite situation might occur, if anindividual8 or a legal entity, recognised as the taxresident of Kazakhstan, receives income from a person registered inthe offshore, in particular, in the context of the controlledforeign companies (hereinafter - the'CFC') or the permanent establishment ofthe latter.

Thus, a legal entity registered in the offshore may berecognised as the CFC of the tax resident of Kazakhstan in case thelatter owns9 25% or more of the voting shares(participant interests) in such person or controls10 it.Herewith, in this case, the ownership implies both direct andindirect (for instance, through another company or a closerelative) ownership, while control is determined in accordance withthe IFRS or other international standards recognised by the stockexchanges11 .

The CFC's income is determined on the basis of its auditedconsolidated financial reports and shall be included in the taxableincome of the tax resident of Kazakhstan12.

Thus, in case with the legal entity recognised as the taxresident of Kazakhstan, the CFC's income shall be included insuch resident's aggregate annual income which, in its turn,shall be levied with corporate income tax (hereinafter -'CIT') at the rate of 20%. In general, CITin respect of the CFC's income shall be reported before31st March and paid before 10th April of the calendaryear following the year in which such income wasreceived13.

The similar provisions are envisaged in respect of theindividuals recognised as the tax residents of Kazakhstan. Inparticular, the CFC's income shall be included in theindividual's annual income which, in its turn, shall be leviedwith personal income tax (hereinafter -'PIT') at the rate of 10%. PIT in respectof the CFC's income, in general, shall also be reported before31st March and paid before 10th April of thecalendar year following the year in which such income received14.

In addition, it should be noted that the participation of thetax resident of Kazakhstan in the CFC, apart from theabovementioned obligations, entails the obligation to submit arespective notification to the tax authorities at the place of suchresident's location/residence. In particular, this notificationshall be submitted before 31st March of the yearfollowing the year in which the tax resident of Kazakhstan obtainedvoting shares (participant interests) or control in the CFC.

In view of the above, one might conclude that in Kazakhstan theoffshore tax obligations are triggered in case the tax resident ofKazakhstan pays income to a person registered in the offshore or inthe opposite situation when the tax resident of Kazakhstan receivesincome from the person registered in the offshore. Herewith, inboth cases, the tax obligations in respect of the offshore tax restwith the tax resident of Kazakhstan in capacity of either the taxagent or the taxpayer.

Footnotes

1. Article 294.3 of the Code of the Republic ofKazakhstan dated 25 December 2017 No. 120-VI 'On taxes andother obligatory payments to the budget (Tax Code)'(hereinafter - the 'TaxCode').

2. The Order of the Minister of finance of the Republicof Kazakhstan dated 8 February 2018 No. 142 'On approval of thelist of offshores'.

3. A legal entity registered in accordance with theKazakh legislation as well as the legal entity registered inaccordance with the foreign legislation but with the Kazakh placeof management.

4. Articles 644.1.4 and 646.2 of the TaxCode.

5. Article 645.6 of the Tax Code.

6. Article 647.1.1 of the Tax Code.

7. Article 648 of the Tax Code.

8. An individual with the Kazakh centre of vitalinterests (Kazakh citizenship/residence permit, family and realestate) as well as the individual residing in Kazakhstan for morethan 183 calendar days in any consecutive 12-monthsperiod.

9. Excluding indirect ownership through another taxresident.

10. Article 294.1 of the Tax Code.

11. Article 294.4 of the Tax Code.

12. Article 297.1 of the Tax Code.

13. Articles 363.3 and 315.1 of the Tax Code.

14. Articles 362.1 and 364.1 of the Tax Code.

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

See original here:

Offshore Tax In Kazakhstan: From Calculation To Payment - Tax - Kazakhstan - Mondaq News Alerts