Category Archives: Offshore

OSLO, Norway (11 January 2022) - TGS, a global provider of energy data and intelligence, today announced it has commenced a broadband 2D regional seismic data reprocessing project covering the offshore Natuna Basin, Indonesia.

The project encompasses both West and East Natuna, tying key wells to create a new regional framework, including coverage of Natuna D Alpha, the largest undeveloped gas field in Southeast Asia, and the Paus block in the current Indonesia Petroleum Bid Round 2021.

Over 6,500 kilometers of relevant regional 2D field data will be processed through a modern comprehensive reprocessing sequence comprising Pre-Stack Time Migration and Pre-Stack Depth Migration with FWI, allowing customers to develop structural and geological models in their pre-study evaluation process.

This project is complemented by TGS' adjacent multi-client activity offshore Malaysia.

Kristian Johansen, CEO at TGS, commented: "Through the Natuna 2D reprocessing project, the exploration industry will greatly benefit from access to a modern reprocessed seismic data framework with a regional overview designed to help re-invigorate exploration across the offshore Natuna Basin".

This project is supported by industry funding. Availability of the deliverables is expected in late Q4 2022.

About TGSTGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

Forward Looking StatementAll statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

For more information, visit TGS.com or contact:

Sven Brre LarsenCFO+47 90 94 36 73investor@tgs.com

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TGS Announces Second Reprocessing Project Offshore Indonesia in 2022 - GlobeNewswire

Workers in Bilbao, Spain have begun assembling two giant concrete cylinders to form the base of the countrys first floating offshore wind turbine, due for installation this fall in 85 m of water.

Last month, contractor Ferrovial Construccon S.A. used two 500-tonne capacity crawler cranes to raise and rotate six vertically cast floater elements and transport them 150 m to an assembly platform to be joined together.

Each roughly 37-m-long floater consists of a cylinder, with diameters varying up to 13.7 m, and two conical ends. Concrete thicknesses are undisclosed. The floaters will lie within a roughly 30-m by 64-m steelwork frame with a single mooring point to support a 2-MW turbine with its axis about 70 m above sea level.

Later this year, Saitec Offshore Technologies, the Spanish lead project developer, plans to install the singly moored floating device at at the Biscay Marine Energy Platform testing center, off the coast of Armintza in northern Spain.

Working with Germany's RWE Renewables, Saitec will then trial the DemoSATH prototype for two years.

Project cost was not dfsclosed.

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Spain Set to Launch First Floating Offshore Wind Turbine in Fall - Engineering News-Record

FRANKFURT, Jan 6 (Reuters) - Energy group RWE (RWEG.DE) and Canada's Northland Power (NPI.TO) on Thursday unveiled plans for a joint venture to build 1.3 gigawatts (GW) of offshore wind farms off the German coast and get a bigger slice of the country's renewables market.

The three offshore wind farms, to be located in the North Sea and expected to start commercial operation between 2026 and 2028, are expected to result in synergies during development and construction, RWE said.

The 51-49 joint venture, which builds on a previous cooperation between the two firms, comes shortly after Germany unveiled significantly more ambitious expansion targets for solar and wind to offset a planned phase-out of coal-fired power plants. read more

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"Germany has set itself ambitious climate targets, thereby establishing a significant growth potential for renewable energies," said Sven Utermoehlen, who leads the offshore unit of RWE's renewables division. "RWE is making its contribution to this and is significantly stepping up the pace here."

RWE, among the largest offshore wind farm developers worldwide, plans to triple the capacity of turbines operated off the coast to 8 GW by the end of the decade from 2.4 GW as part of a 50 billion euro ($57 billion) investment push. read more

RWE, Germany's largest power producer, and Northland Power are already partners in the 332 megawatts Nordsee One offshore wind farm.

($1 = 0.8844 euros)

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Reporting by Christoph SteitzEditing by Madeline Chambers

Our Standards: The Thomson Reuters Trust Principles.

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Germany's RWE, Canada's Northland Power team up on German offshore wind - Reuters

COPENHAGEN, Dec 1 (Reuters) - Germany's RWE (RWEG.DE) on Wednesday won a tender to build what will be Denmark's largest wind farm, The Danish Energy Agency said, adding that this will be the world's first offshore wind farm constructed with actual payments to the state.

The winner was drawn by lottery after several bids were made at a minimum price and the deal comes as a blow toDenmark's Orsted (ORSTED.CO), the world's biggest developer of offshore wind, which had also put in a bid.

The tender underlines the fierce competition for renewable investments in mature markets where costs have been driven down to levels where it can compete with fossil fuels making it possible to phase out subsidies for some projects.

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RWE will pay the Danish state for the first years of the wind farm's production until it reaches a 2.8 billion Danish crowns ($426.48 million) cap, which is expected within a few years.

"It is the world's first offshore wind farm constructed with payments to the state," the energy agency said in a statement.

The Thor wind farm, which will deliver 1 gigawatt (GW) of renewable electricity, is one of three large offshore wind farms Denmark aims to have built before 2030 as part of its plans to reduce its carbon emissions to 70% below its 1990 levels by 2030.

Thor is expected to start producing electricity from around 2026 and total investment costs are estimated at 15.5 billion Danish crowns ($2.36 billion).

The head of Siemens Gamesa (SGREN.MC) warned on Nov. 24 that a decade-long race to bring down the cost of generating wind power could not continue, as it would reduce the financial muscle of turbine producers to continue investing in new technologies.

($1 = 6.5654 Danish crowns)

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Reporting by Stine Jacobsen, Editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

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RWE wins tender to build Denmark's largest ever offshore ...

Dive Brief:

New York has plans to lead the nation's offshore wind industry, while also eliminating building and transportation emissions,in order to develop a carbon-neutral economy by 2050.

"This transformative investment in green infrastructure will cement New York's status at the forefront of climate action and ensure equity in our transition to a cleaner, greener state," Hochul said in a statement.

Hochul's building electrification plan will "require zero on-site greenhouse gas emissions for new construction no later than 2027." The plan also calls for upgrading the state's appliance efficiency standards, and mandates energy benchmarking for large buildings to make it easier to track efficiency improvements over time.

The plan will also establish a "dedicated green electrification fund" to electrify low-income homes through a new $25 billion, five-year housing capital plan managed by the state office of Homes and Community Renewal.

"To make real progress on climate change, it's time to tackle major sources of pollution head-on, ensure greener housing is available to all New Yorkers, and pave the way toward a more sustainable future,"Hochul said.

The upcoming wind procurement will power at least 1.5 million homes and create 2,000 jobs, according to the governor's office. The state is targeting 9 GW of offshore wind by 2035.

"With this investment, New York will lead the nation on offshore wind production," said Hochul. The $500 million will go to upgrade the state's "ports, manufacturing, and supply chain infrastructure needed to advance its offshore wind industry," according to a statement.

"This investment will ensure that New York has the strongest offshore wind energy market along the Eastern Seaboard, enabling us to be the offshore wind supply chain hub for other projects up and down the coast," Hochul's office said.

Hochul also revealed plans to double New York's storage deployment target, from 3 GW to 6 GW by 2030.The state will also move to switch out gasoline-powered school buses for zero emission models by 2035.

"Electric school buses are here and ready to be deployed, and its exciting to see New York seize the moment," Prochazka said. "This is a meaningful step toward realizing the national security, public health and economic benefits that electric vehicles offer."

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Gov. Hochul announces $500M offshore wind investment, electrification push for New York - Utility Dive

Northland Power Inc. and RWE Renewables GmbH have agreed to co-develop a cluster of offshore wind projects in the German North Sea with a total gross capacity of 1.3 GW.

The partners signed an agreement to establish a joint venture company through which they plan to jointly develop, construct, and operate the cluster of three offshore wind projects.

The cluster will include the 433 MW N-3.8 (Nordsee 2) site, the 420 MW N-3.5 (Nordsee 3) site and the 480 MW N-3.6 (Delta Nordsee) site.

Northland and RWE hold step-in rights for N-3.8 (Nordsee 2) and N-3.5 (Nordsee 3), while RWE holds step-in rights for the N-3.6 (Delta Nordsee) lease.

In early November, the partners exercised their step-in rights for N-3.8 (Nordsee 2), allowing them to match the awarded bid in the auction and retain the lease.

Northland and RWE Renewables had previously established two special purpose companies, Nordsee Two GmbH and Nordsee Three GmbH, for the development of the Nordsee 2 and Nordsee 3 projects.

Northland currently holds an 85 per cent share in the companies, and RWE Renewables controls the remaining 15 per cent.

With the new agreement in place, Northland will hold a 49 per cent interest in the new joint venture, with RWE holding 51 per cent.

Northland will gain access to the N-3.6 (Delta Nordsee) site, for which RWE has step-in rights for 100 per cent of the lease, while at the same time RWE will increase its position in the N-3.8 (Nordsee 2) and N-3.5 (Nordsee 3) sites.

The projects will be developed and managed on a joint basis by both parties and are expected to achieve commercial operations between 2026 and 2028.

The auction for the Nordsee 3 and Delta Nordsee leases will be held in 2023.

Sven Utermhlen, CEO Wind Offshore, RWE Renewables, said: Germany has set itself ambitious climate targets, thereby establishing a significant growth potential for renewable energies. Offshore wind power plays a central role in this and is indispensable for supporting the decarbonization of industry in particular. RWE is making its contribution to this and is significantly stepping up the pace here. This includes the collaborative delivery of the 1.3 GW offshore cluster with Northland Power, through which we can achieve considerable synergies to deploy at our new wind farms, while at the same time actively supporting the energy transition in our home market Germany.

The size and scale from the formation of the cluster is expected to allow the partnership to unlock synergies.

Specifically, the realization of synergies in development and construction costs, as well as operating costs, are expected to result in enhanced returns for the projects.

Northland also expects to benefit from enhanced offtake opportunities through the formation of the partnership and the cluster to secure offtake agreements for the projects, once complete. The cluster will be in close proximity to the existing 332 MW Nordsee One wind facility in which Northland and RWE are partners already.

The formation of the cluster aligns with our offshore wind ambitions and strategy of growing our position as a global leader in offshore wind, said Mike Crawley, President and Chief Executive Officer of Northland.

We are proud to enhance our partnership with RWE to form the cluster to further strengthen our position in the North Sea. This cluster will provide us with significant size and scale and allows us to support the decarbonization efforts in Germany.

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Northland Power and RWE Reforge Step-In Pact Offshore Germany - Offshore WIND

Huisman has won a contract from Denmark-based BMS Heavy Cranes for the delivery of a 3,000mt Ringer Crane, with an option for a second unit.

The crane setup has been optimised for operations in the wind industry.

With the capability to lift components of 1,200mt at heights of up to 225m, and heavy structures of 3000mt at reduced height, the crane will ready BMS for installation of the next generation of wind turbines on and offshore and on floating foundations, Huisman said.

The delivery of the crane is scheduled for the second half of 2023.

Morten Kammer, CEO at BMS Heavy Cranes, said: We look forward to the ongoing cooperation with Huisman in the delivery of this crane. This asset represents a major step forward for BMS. With the capability to lift the worlds largest turbines onshore we will be able to play an increasingly important role in the development of renewable, net-zero energy industries.

The fully electrically driven crane is said to help reduce emissions and improve operational accuracy and energy efficiency ensuring its suitability for use in the renewable energy industry.

We are passionate about designing large cranes and are grateful to BMS for the opportunity and their trust. We cant wait to see this mega crane in real life. We are happy to once again be applying our experience in a project that aligns with our vision of accelerating the growth of renewable energy production, David Roodenburg, CEO at Huisman, said.

Excerpt from:

Huisman Crane to Handle Largest Wind Turbines Onshore and Offshore | Offshore Wind - Offshore WIND

DUBLIN, Jan. 7, 2022 /PRNewswire/ -- The "Offshore Wind Transmission Report" report has been added to ResearchAndMarkets.com's offering.

Global Transmission Research Report analyses the market size and opportunity for offshore wind transmission across the globe.

The report provides an overview of the recent policy developments and mandates for offshore wind development, examine the costs and present the various models and technology options for developing offshore wind transmission infrastructure. It provides information on existing and planned offshore transmission projects and on the key technology players in the industry.

Driven by the common goal of achieving low-carbon economies, governments across the globe have set ambitious targets for offshore wind energy. Established markets such the UK, Germany and China have further expanded their offshore wind goals.

New markets such as the US and Japan have launched supportive policy frameworks and funding programmes to accelerate the development of their offshore wind industries. Countries such as Australia, Vietnam and Greece are also keen to capture offshore wind opportunities.

However, the challenge of developing an adequate and robust offshore grid infrastructure still remains. Offshore wind integration and transmission needs have taken a center stage. New technologies and innovative solutions for interconnections have been proposed as projects become larger and complex.

Key Topics Covered:

PART 1: EXECUTIVE SUMMARY

PART 2: GLOBAL OFFSHORE WIND TRANSMISSION SECTOR

2.1 Offshore wind developments

2.2 Market size and opportunity

2.3 Offshore transmission development routes

2.4 Offshore wind transmission costs and investments

2.5 Financing offshore wind

2.6 Offshore wind transmission technology

2.7 Regional offshore initiatives

2.8 Key technology players

PART 3: COUNTRY PROFILES

PART 4: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/r/skpc3r

Media Contact:

Research and Markets Laura Wood, Senior Manager [emailprotected]

For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

http://www.researchandmarkets.com

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Global Offshore Wind Transmission Report 2021: Growth Drivers, Cost Competitiveness, Offshore Wind's Promising Attributes, Targets and Mandates,...

The Louisiana Wildlife and Fisheries Commission adopted anotice of intentto make two key changes to the Louisiana Department of Wildlife and Fisheries (LDWF) Recreational Offshore Landing Permit (ROLP):

Interested persons may submit comments relative to the proposed Rule to Jason Adriance, Department of Wildlife and Fisheries, Box 98000, Baton Rouge, LA 70898-9000, or via e-mail to jadriance@wlf.la.gov prior to Thursday, March 3, 2022.

A copy of the Notice of Intent can be found here: https://www.wlf.louisiana.gov/assets/Resources/Publications/Commission_Action_Items/ROLP_377_NOI.pdf

Who Needs an ROLP?Both private recreational anglers and charter captains are required to obtain this free permit (however anglers on a paid for-hire trip are exempt). This permit is required to possess tunas, billfish, swordfish, amberjacks, groupers, snappers, hinds, cobia, wahoo, and dolphinfish in Louisiana waters (gray triggerfish will be added to this list if this rule becomes effective).Currently, minors/youth under 16 are not required to have an ROLP. This will change to 18 if this rule becomes effective.

Learn more about the current Recreational Offshore Landing Permit.

The Department of Wildlife and Fisheries is charged with managing and protecting Louisiana's abundant natural resources. For more information, visit us atwww.wlf.louisiana.govon Facebook atwww.facebook.com/ldwffbor follow us on Twitter @LDWF.

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Louisiana Wildlife and Fisheries Commission Adopts Recreational Offshore Landing Permit Notice of Intent | Louisiana Department of Wildlife and...

Energy stocks led the way last year. The energy sector of the Standard & Poors 500 Stock Index soared 55% in 2021, nearly double the 29% return posted by the overall stock market.

In the energy industry, however, there was a marked dichotomy between producers and service companies. It reflected the woes experienced by service companies, including those in the offshore industry. Those woes, however, may soon be gone.

The energy sector last year saw oil and gas producer stocks (Dow Jones U.S. Oil & Gas Index) climb 48%, while oilfield service stocks (S&P Oil & Gas Equipment & Services Select Industry Index) gained only 11%. The performance disparity reflects the capital-intensive nature of the service industry compared to the commodity-leveraged earnings of producers. Higher oil and gas prices are reflected almost immediately in improved earnings outlooks for producers and thus higher share valuations, while service companies struggle with excess equipment that restrains pricing power and earnings improvement, thus limiting share price appreciation. Its the root of the offshore industrys woes.

During 2021, oil and gas prices experienced a robust recovery driven by the global economic rebound following pandemic-depressed 2020. Tight oil and gas markets drove prices dramatically higher increases of 59% and 33%, respectively. A recent survey of 132 oil and gas executives by the Dallas Federal Reserve Bank shows they expect oil prices to remain stable or rise further in 2022. The global natural gas supply shortage ensures U.S. LNG exports should remain strong this year, supporting healthy domestic gas prices. Positive oil and gas price trends underlay a positive outlook for the industry in 2022.

The problem in recent years for the offshore industry was similar with what has been experienced across the entire oil service business too much capacity that depresses prices and erodes negotiating leverage with customers. That past is beginning to become history.

The Dallas Fed survey showed, on average, service companies expect the price of their primary service or product to increase by 8.5% this year in response to rising demand. Controlling input costs will be critical for improved profitability, but well within the ability of managers.

For offshore drillers and workboat operators, their largest cost component is the equipment they own and operate. Those high costs were largely addressed in recent years via debt restructuring efforts, either under bankruptcy court protection or negotiated arrangements with lenders.

Another financial solution was industry consolidation, such as the merger of Noble and Maersk that will create the third-largest offshore drilling rig company when completed at midyear. The new company will possess the second-youngest fleet with an 80% utilization. Analysts are speculating on which older, less-capable rigs the new company management team might decide to scrap as it aligns its fleet for the future offshore drilling market. Such a move would help future earnings.

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Will we finally see an offshore rebound in 2022? Part I - WorkBoat