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Leading trade body Offshore Energies UK (OEUK) has welcomed today’s announcement of £1 billion in funding from a number of sources for the offshore wind supply chain – calling it a positive signal but urging government to use it as a springboard for much wider action.
Offshore Energies UK (OEUK) has today proposed key reforms to accelerate offshore wind generation following the government’s publication of its Review of Electricity Market Arrangements (REMA). OEUK’s analysis shows that to meet the CP30 goal of 95% clean power by 2030, the UK must deliver half of this target from offshore wind.
Senior leaders from across the offshore energy sector and government will be in attendance of this year’s standout event, SPE Offshore Europe 2025, and opening for it with a 90-minute plenary session hosted at P&J Live in Aberdeen from September 2- 5. This year’s theme is ‘Unlocking Europe’s Potential in Offshore Energy’.
Norway's energy regulator has identified four more areas as most suited for future offshore wind development, it said on Monday, with the government now consulting…
New funding for projects in Scotland, Humberside, Teesside and Merseyside The investment in the UK offshore energy industry outlined in today’s Comprehensive Spending Review is progress towards a clearer picture of how the government will support homegrown energy.
government has granted development consent to BP and EnBW for 1.5 GW Mona offshore wind farm in the east Irish Sea, off Wales.Mona offshore wind farm is…
(World Oil) – The American Petroleum Institute today joined more than 100 other energy trade groups and organizations in urging the Department of the Interior to develop a new five-year offshore leasing program that fully leverages the U.S. offshore production accounts for 14% of total U.S. According to the U.S.
government has unlocked $10.1 billion investment into key clean energy projects, like offshore wind and hydrogen, with the signing of a new deal with the Sumitomo Corporation in Tokyo…
Leading trade body OEUK has responded to the Government’s announcement of reforms to the Contracts for Difference scheme for Allocation Round 7 for offshore wind. It will enable fixed-bottom offshore wind projects without finalised planning permission to enter this year’s AR7 Contracts for Difference auction.
As the country strives to produce two million bpd, projects of this nature will support new investments by providing a direct route from offshore fields to market.” GEIL has since received regulatory approval from the government to boost production to 30,000 bpd under a revised field development plan.
Scottish government has launched a consultation on the updated draft marine plan to inform offshore wind developments in Scotland.The public consultation, running until August 22…
A consortium led by ExxonMobil has found a reservoir of natural gas at a prospect off the island's coast, a Cypriot government spokesperson said on Monday.Drilling…
Leading trade body Offshore Energies UK today responds to the government’s publication of its Review of Electricity Market Arrangements (REMA). Retaining national pricing supports offshore wind and clean energy development in Scotland and across the UK. OEUK’s Wind Insight 2025 report sets out its recommendations in full.
Leading trade body Offshore Energies UK has today responded to the publication of the government’s Industrial Strategy , which sets out a ten-year plan for Britain’s industrial sectors. The government’s strategy is a positive step – it will come to life through true partnership with our industries and people.
(Investing) – A consortium led by ExxonMobil (NYSE: XOM ) has discovered a natural gas reservoir off the coast of Cyprus, according to a government announcement on Monday. kilometers in the Pegasus-1 well, Cypriot government spokesperson Konstantinos Letymbiotis said.
Offshore Energies UK has welcomed today’s government announcement of over £500 million to support the development the UK’s first network for hydrogen transport and storage. Because it is expensive the government is right to focus deployment in sectors where it offers most value.
The Bonaparte CCS project has been awarded Major Project Status by the Australian Government. It is the first offshore carbon capture and storage (CCS) project to receive the status in Australia…
“Almost all well-known international companies” are vying for the 22 offshore and onshore blocks, he said. Libya is split between dueling governments in its east and west, and sporadic stoppages and rounds of violence have left much of its energy infrastructure neglected and damaged. billion) for fuel imports this year.
Mozambican President Daniel Chapo earlier this week said his government and private companies will have to collectively ensure the necessary security is in place to enable the restart. The plant will liquefy and export the extensive gas reserves off northeast Mozambique that were discovered 15 years ago.
The government recognizes the complexities and high costs associated with the development of the Venus oil field by TotalEnergies,” Kornelia Shilunga, special adviser and head of upstream petroleum unit in the Namibian Presidency, said in a reply to questions.
government in 1911. Closing Bell Story Crude Oil Featured Mergers, Acquisitions & Divestitures Offshore American oil Chevron Exxon arbitration ExxonMobil Guyana prize assets ARMS RACE Exxon and Chevron both trace their roots to Standard Oil, the conglomerate formed by John D.
OEUK added that the government has also announced a further GBP 700 million ($959.1 OEUK added that the government has also announced a further GBP 700 million ($959.1 The government’s strategy is a positive step - it will come to life through true partnership with our industries and people,” he continued.
In the PNIEC, the government reported that 67.9 In July 2024, France launched its updated CCUS strategy, targeting a CO 2 emissions reduction of 4 to 8 Mtpa by 2030 and identifying potential onshore and offshore CO 2 storage locations. Transport type: Offshore pipeline transport costs are typically 1.3
This is not a problem offshore where oil can be recovered from the PW so that it can be discharged overboard. There are market and government incentives that could help move the dial, but both of them are small. Please upgrade your browser to improve your experience. As fields age, they generate higher water to oil ratios.
billion more than current government estimates. The independent study , produced for OEUK by energy experts Westwood Global Energy Group, finds that up to 7.5 The UK’s offshore basin is naturally declining – with over 280 active oil and gas fields today, but around 180 expected to cease production by 2030.
That means a firm commitment from government to deliver a long-term competitive tax regime in 2026. Waiting until 2030 is too late. It is a simple truth: high tax rates that drive away investment and ultimately deliver lower growth and lower tax revenues. Certainty for our developers. listen to our sector.
The Dutch government on Wednesday scaled back plans to build offshore wind farms in the next 15 years, citing rising costs and lower-than-expected electricity demand from industry…
The success of the Bibi Heybat well attracted attention from entrepreneurs, engineers, and governments, and it sparked what could be considered the first true oil rush in world history. This event marked the first oil well in the world and the official beginning of the oil drilling industry, not just in Azerbaijan, but globally.
Israeli government has ordered Chevron’s subsidiary Chevron Mediterranean to halt production at its operated Leviathan offshore natural gas project amid security…
The agreement was signed “under a company-to-company discussion framework for enhanced cooperation on energy security established by the Government of Japan and the Japan Bank of International Cooperation (JBIC)”, Woodside said in a press release. Three cargoes totaling about 200,000 metric will be delivered per year.
“Almost all well-known international companies” are vying for the 22 offshore and onshore blocks , he said. Libya is split between dueling governments in its east and west, and sporadic stoppages and rounds of violence have left much of its energy infrastructure neglected and damaged. billion) for fuel imports this year.
“The FLNGs will be located in close proximity of each other, offshore in the Gulf of San Matias Gulf in the province of Rio Negro, Argentina. The vessels will monetize gas from the Vaca Muerta formation, the world’s second largest shale gas resource, located onshore in the province of Neuquen, Argentina.
The contract includes the supply of carbon steel OCTG products with premium connections, to be delivered in 2026 to support Qatar’s increasing onshore and offshore drilling activity, the company said in a news release.
License EXL014 covers blocks 8/5, 8/6, 8/8, 8/9, 8/12, 9/7 and 9/10 on Norway’s side of the North Sea, according to a work program published online by the Norwegian Offshore Directorate. “The government is making it possible for Norway to receive large quantities of CO2 from Europe”, Aasland said.
Image by valiantsin suprunovich via iStock A release posted on the UK government website on Monday announced that Dan McGrail has been appointed as the permanent Chief Executive Officer of Great British Energy. “This includes announcing GBP 1 billion ($1.36
Based in Aberdeen, Darren brings a wealth of experience from his previous role leading Wood’s technical function across Europe, the Middle East and Africa, where he focused on enhancing technical governance, assurance and operational processes across the region.
Image by kodda via iStock Vallourec said it secured two contracts to supply oil country tubular goods (OCTG) to support the drilling operations of China National Offshore Oil Corporation (CNOOC) and PetroChina in Iraq. The contracts have potential revenue of over $130 million, Vallourec said in a news release.
and QatarEnergy have made another natural gas discovery in Block 10 offshore Cyprus, the presidential office said Monday. In March 2022 appraisal well Glaucus-2 confirmed a “high-quality gas-bearing reservoir”, according to the government. Image by Zigmunds Dizgalvis via iStock Exxon Mobil Corp.
Brazil's lower house of Congress on Wednesday approved an executive order allowing the government to auction its share of oil in uncontracted offshore pre-salt areas…
“The government recognizes the complexities and high costs associated with the development of the Venus oil field by TotalEnergies,” Kornelia Shilunga, special adviser and head of upstream petroleum unit in the Namibian Presidency, said in a reply to questions.
The company said it is currently awaiting government construction approvals. The company is active in offshore properties located in the Republic of Trinidad and Tobago. Further, Touchstone said it completed site surveys for two additional well pads, each capable of supporting up to four drilling locations.
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