Category Archives: Offshore

The UK Government timetable for its offshore wind power auction will not be delayed by the coronavirus pandemic.

The Department for Business, Energy and Industrial Strategy (BEIS) announced that the consultation deadline for its Contracts for Difference (CfD) auction will not be affected beyond its current deadline.

The consultation period, which is scheduled to run for twelve weeks, is due to close on May 22.

The delivery of the fourth round is still expected to take place in 2021.

A UK trade body said it provided certainty for the UK renewable energy sector.

The CfD process traditionally grants licences for big offshore wind projects this year the process is likely to include onshore and floating wind as well as solar power.

A number of large offshore wind developers are expected to be part of the bidding process, alongside a group for new entrants from the UK oil and gas sector.

The previous round saw SSE Renewables win consent for its giant Seagreen Offshore Wind Farm off the coast of Montrose in Scotland.

But, developer EDP Renewables missed out on its 90-turbine Moray West Offshore Wind Farm.

Red Rock Powers Inch Cape Wind Farm off the Angus Coast was also unsuccessful, alongside Shetlands Viking Wind Farm.

RenewableUKs head of policy and regulation, Rebecca Williams, said: Were pleased to see the current timetable for the governments clean power auctions remains on track.

This provides certainty for the industry and investors so we can plan ahead. Holding the next round of CfD auctions in 2021 is vital to secure the much-needed new renewable energy capacity we need to meet net zero.

This will enable consumers to benefit from new cheap power as fast as possible.

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No Covid-19 delay to offshore wind power auction delivery, UK Gov says - News for the Oil and Gas Sector - Energy Voice

The new design is an evolution of Staupers existing and patented Compact Flotation Unit, allowing for a smaller vessel on offshore installations where space and footprint are critical.

(Courtesy Stauper Offshore)

Offshore staff

SANDEFJORD, Norway The Norwegian Patent Authorities have granted Stauper Offshore a patent for its new Compact Flotation Unit (CFU) design.

This applies to a CFU vessel with a secondary point for oil removal as part of the water treatment process.

The new design is an evolution of Staupers existing and patented CFU, allowing for a smaller vessel on offshore installations where space and footprint are critical.

Managing director Rune G. Nilssen said: The new patent will allow us to further reduce the footprint of our technology without compromising efficiency. Space and efficiency are critical factors for any offshore installation.

This new patent enables Stauper to further help operators meet their challenges accommodating space limitations for process equipment.

The CFU is said to be proven in treating produced water down toward zero ppm oil in water. It is also said to be stable, and requiring no energy, with minimal operator interference and maintenance.

04/08/2020

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Stauper secures further patent for offshore water treatment process - Offshore Oil and Gas Magazine

Shell and Diamond Offshore have mutually agreed the release of the Ocean Valiant rig from its contract.

Diamonds most recent fleet status report, published in February, shows Ocean Valiant was supposed to be with Shell in the UK North Sea from November 2019 until March 2021.

A source said Shell had shelved plans to drill five wells and that the rig would be stacked later this month.

A spokesman for Shell confirmed Ocean Valiant would be released once it completes a well at the Gannet field.

But he said Ocean Valiants agreed scope would be transferred to Diamonds Ocean Endeavor rig, which is already contracted to Shell.

Energy Voice reported in October that Shell was using Ocean Endeavor for drilling work at its Fram gas field as part of a campaign expected to last up to 110 days.

Its understood the Ocean Valiant decision was operational and not linked to any spending reductions which may be triggered by the current crude price slump.

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Shell UK, Diamond Offshore agree release of rig - News for the Oil and Gas Sector - Energy Voice

Arup has appointed Saygin Oytan to lead the companys US offshore wind efforts.

He will be based in Arups Boston office and will head up the companys initiatives aimed at expanding its presence in the US offshore wind market.

Most recently Oytan was offshore wind director at the New Jersey Economic Development Authority (NJEDA), where he led a range of offshore wind port and supply chain development initiatives.

Arup Boston office leader Brian Swett said: We are anticipating major growth in the offshore wind market in the US in coming years.

With Sy at the helm as our new offshore wind leader in the Americas, Im confident that Arups offshore wind business will continue to grow and mature in lockstep with the market, providing more services and more value to our clients across North America.

Oytan added: I'm excited to join the Arup team that has been working diligently to support our international and national clients in offshore wind energy development. The offshore wind market in the US is growing rapidly, where a capacity of 9040MW is under development with secured financial mechanisms.

State governors, legislatures and energy agencies are boldly moving forward on huge offshore wind programmes and projects.

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Arup hires Americas offshore wind head - reNEWS

Developer Orsted has completed construction of the 338MW Sage Draw project in Texas, its largest onshore wind farm to-date.

Switch-on of Sage Draw, build by contractor Blattner Energy with 120 GE turbines, brings the Danish utilitys installed capacity on land in the country to 1.3GW, with another 800MW of onshore, solar and storage projects under construction and due to enter operations late this year or early next.

Orsted during the past years had become the worlds largest operator of offshore wind, and only two years ago decided to go back into the onshore wind business.

The company in 2013 (then still with the name Dong Energy) had announced it would exit wind on land to concentrate on its offshore plans, and by the end of the following year had sold its Danish, Swedish, Norwegian and Polish onshore wind assets.

In yet another strategic shift, the utility roared back into onshore wind in 2018, a move it cemented with the acquisition of US outfit Lincoln Clean Energy (LCE) in the same year.

The safe completion of Sage Draw amidst the escalating Covid-19 crisis is a testament to the resilience and adaptiveness of the Orsted team and key project partners at Blattner Energy and GE Renewable Energy, as well as financial partners GE Energy Financial Services and BHE Renewables, said Orsted onshore wind CEO Declan Flanagan, LCEs former chief executive.

This underscores the significant role renewable energy can play in continuing to build our economy as we manage through and beyond the current crisis."

Orsted targets reaching 5GW in installed onshore wind capacity by 2025.

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Offshore wind pacesetter Orsted completes its largest land-based project - Recharge

Offshore staff

ABERDEEN, UK Fishing, milling, and casing recovery services provider Ardyne has secured four long-term contracts for work on 175 wells in the North Sea.

Three of the contracts, ranging in duration from three to five years, are from major operators to provide fishing, P&A and inner string conductor recovery on 103 wells in the UK and Norwegian sectors.

The projects will start this spring and summer.

Another contract involves provision of fishing and slot recovery services for 72 wells to a major Norwegian operator. The four-year campaign is expected to start in 3Q.

Ardyne will deploy its Trident single-trip casing retrieval solution, its Titan single-trip casing cutting hydraulic power system, and its DownHole Power Tool.

Trident and Titan have each been deployed more than 1,200 times in various locations worldwide and in various locations worldwide.

04/09/2020

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Ardyne awarded long-term North Sea intervention contracts - Offshore Oil and Gas Magazine

Star of the South Wind Farm has unveiled three potential power transmission corridors for Australias first offshore wind farm. The project company has now invited community feedback on the proposed routes.

The project needs to select a transmission corridor to continue progressing by the end of the year, Star of the South Wind Farm said.

The developer will assess the three possible transmission corridors based on engineering and technical studies, advice from specialists and feedback from landholders and local communities.

Each of the three proposed options involves underground cables and substations, and connection to the grid in the Latrobe Valley.

Due to COVID-19, face-to-face community information sessions planned in April have been cancelled. The community is encouraged to provide feedback online or get in touch with the project team to request a hard copy information pack or setup a teleconference meeting, the project company states.

The public will be able to provide feedback from 14 April to 17 May 2020.

Surveys at the project site off Gippsland, Victoria, started late last year. Wind, wave and seabed studies will continue over several years. The data from the surveys will inform planning assessments and the projects feasibility, Star of the South Wind Farm said.

The developers have already referred the project to the state and federal authorities to start the environmental assessment process.

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Star of the South Unveils Three Transmission Route Options - Offshore WIND

U.S. Sens. Bill Cassidy and John Kennedy want President Donald Trump to provide relief to the offshore oil and gas industry, which has been ravaged in recent weeks.

As The Daily Advertiser reports, a letter from the two senators asks the president to direct the Department of the Interior to suspend all royalty payments for independent offshore oil and gas producers for a full year after the World Health Organization declares the COVID-19 pandemic has ended.

In 2018, independent oil and gas producers paid $1.5 billion in royalties, according to the letter.

Unless the federal government provides meaningful relief to the independent offshore oil and gas companies in the next 30 days, the continued viability of the industry will be in serious jeopardy, the senators letter states. The loss of this important industry would have a devastating effect on Louisiana and would negatively impact the national security interests of the United States.

In addition to suspending the payments, the senators asked the president to suspend production and operation of federal offshore leases and grant automatic three-year extensions for the primary lease terms of offshore leases. Read the full story.

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Cassidy, Kennedy ask Trump to aid offshore oil and gas industry - Greater Baton Rouge Business Report

Oceaneering International Services Ltd (OISL) has secured a contract to complete seabed route and debris clearance at the Moray East offshore wind project in Scotland.

OISL said it will provide a full suite of services, including vessel, route preparation tools, remotely operated vehicle (ROV), survey, and personnel to complete the operations for the wind farms export cable routes.

The work scope, carried out by OISLs Aberdeen-based team, will involve the deployment of the companys Route Preparation Plough RP15.

The project is planned to be completed early in the second quarter of the year.

We are very proud to have been awarded this work from MOWEL for the Moray East development, thereby increasing our presence on this project and adding to the local content aspirations of the developer, said Allan Ralston, Oceaneerings Director of Renewable and Subsea Projects.

Our tried, tested, and proven Route Preparation Plough has an established record of successfully supporting several U.K. wind farm projects to date and will provide our client with the most robust and cost-effective technical solution for route preparation in advance of export cable installation.

Moray East will comprise 100 MHI Vestas 9.5MW turbines located 22km from the coast in theOuter Moray Firth zone.

The 950MW offshore wind farm is expected to be fully operational in 2022.

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Oceaneering to Work on Moray East Offshore Wind Project - Offshore WIND

Diamond Offshore Drilling, Inc. (NYSE:DO) went up by 20.59% from its latest closing price when compared to the 1-year high value of $12.64 and move down -670.73%, while DO stocks collected +3.14% of gains with the last five trading sessions. Press Release reported on 02/11/20 that Loews Corporation Announces Quarterly Dividend on Common Stock

Diamond Offshore Drilling, Inc. (NYSE: DO) The 36 Months beta value for DO stocks is at 2.25, while of the analysts out of 0 who provided ratings for Diamond Offshore Drilling, Inc. stocks as a buy while as overweight, rated it as hold and as sell. The average price we get from analysts is $2.59 which is $1.67 above current price. DO currently has a short float of 22.71% and public float of 137.29M with average trading volume of 4.58M shares.

DO stocks went up by 3.14% for the week, with the monthly drop of -6.29% and a quarterly performance of -76.77%, while its annual performance rate touched -86.20%. The simple moving average for the period of the last 20 days is -24.48% for DO stocks with the simple moving average of -71.32% for the last 200 days.

Many brokerage firms have already submitted their reports for DO stocks, with Barclays repeating the rating for DO shares by setting it to Equal Weight. The predicted price for DO socks in the upcoming period according to Barclays is $45 based on the research report published on March 19, 2020.

CapitalOne, on the other hand, stated in their research note that they expect to see DO stock at the price of $45. The rating they have provided for DO stocks is Underweight according to the report published on March 17, 2020.

Morgan Stanley gave Equal-Weight rating to DO stocks, setting the target price at $3 in the report published on March 16, 2020.

After a stumble in the market that brought DO to its low price for the period of the last 52 weeks, Diamond Offshore Drilling, Inc. was unable to take a rebound, for now settling with -87.03% of loss for the given period.

The stock volatility was left at 38.97%, however, within the period of a single month, the volatility rate increased by 36.10%, while the shares surge at the distance of +17.14% for the moving average in the last 20 days. In oppose to the moving average for the last 50 days, trading by -65.98% lower at the present time.

In the course of the last 5 trading sessions, DO went up by +3.14%, which changed the moving average for the period of 200 days to the total of -80.64% of losses for the stock in comparison to the 20-day moving average settled at $2.1835. In addition, Diamond Offshore Drilling, Inc. saw -77.19% in overturn over the period of a single year with a tendency to cut further losses.

Reports are indicating that there were more than several insider trading activities at Diamond Offshore Drilling, Inc. (DO), starting from ROLAND DAVID L, who sold 4,000 shares at the price of $2.52 back on Mar 16. After this action, Rushing now owns 25,240 shares of Diamond Offshore Drilling, Inc., valued at $10,064 with the latest closing price.

Kornblau Scott Lee, the Senior Vice President CFO of Diamond Offshore Drilling, Inc., sold 5,819 shares at the value of $8.69 during a trade that took place back on Sep 16, which means that Kornblau Scott Lee is holding 0 shares at the value of $50,567 based on the most recent closing price.

The current profitability levels are settled at -28.68 for the present operating margin and -21.76 for gross margin. The net margin for Diamond Offshore Drilling, Inc. stands at -36.43. Total capital return value is set at -5.14, while invested capital returns managed to touch -6.54. Equity return holds the value -10.60%, with -6.00% for asset returns.

Based on Diamond Offshore Drilling, Inc. (DO), the companys capital structure generated 66.51 points for debt to equity in total, while total debt to capital is set at the value of 39.94. Total debt to assets is settled at the value of 35.70 with long-term debt to equity ratio rests at -2.29 and long-term debt to capital is 65.89.

The value for Enterprise to Sales is 2.29 with debt to enterprise value settled at 0.72. The receivables turnover for Diamond Offshore Drilling, Inc. is 4.53 with the total asset turnover at the value of 0.16. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.51.

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Growth Myths About Diamond Offshore Drilling, Inc. (DO) You Probably Still Believe - The News Heater