Thai Oil Giant Joins for Renewable Subsea Power Project in Scotland
Thailand’s state oil and gas company, PTTEP, has joined the Renewables for Subsea Power (RSP) collaborative project, which is intended to prove the concept of powering subsea equipment with wave power and intelligent subsea energy storage.The £2 million demonstrator initiative, which has taken to the seas in the north of Scotland, has connected the Blue X wave energy converter – built by Edinburgh company Mocean Energy – with a Halo underwater battery developed by Aberdeen intelligent energy management specialists Verlume.The fully operational project, which is in situ off the
Vietnam, Sembcorp in Subsea Power Cable, Offshore Wind Collab
transmission line between the two countries, the Vietnamese government said on Friday. The announcement was made after a meeting between Prime Minister Pham Minh Chinh and Semcorp deputy chairman Tow Heng Tan in Singapore earlier in the day. Sembcorp Utilities and a unit of Vietnam's state oil firm PetroVietnam on Friday also reached an agreement to develop offshore wind projects to export electricity to Singapore, the government said in a statement, without elaborating. In a separate statement, PetroVietnam said the agreement would pave the way for the companies to develop wind
VIDEO: 'Eye of fire' Near Offshore Platform in Mexico Extinguished
A fire on the ocean surface west of Mexico's Yucatan peninsula early on Friday has been extinguished, state oil company Pemex said, blaming a gas leak from an underwater pipeline for sparking the blaze captured in videos that went viral.Bright orange flames jumping out of water resembling molten lava was dubbed an "eye of fire" on social media due to the blaze's circular shape, as it raged a short distance from a Pemex oil platform.The fire took more than five hours to fully put out, according to Pemex.The fire began in an underwater pipeline that connects to a platform at Pemex's
U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices
weeks as Saudi Arabia and Russia kicked off a price war and the coronavirus pandemic destroyed demand. U.S. oil now trades at less than $23 a barrel.The crash has shocked the oil industry as a pact among OPEC and non-OPEC producers to cooperate imploded, triggering a production free-for-all.The United States is sending a special representative to negotiate with Saudi Arabia, officials said Friday, after the kingdom unleashed production following years of touting its role as a stabilizing force for markets.Saudi Arabia and Russia are locked in a war for global oil market share after their three-year
SOCAR Inks Deals for Caspian Fields with Equinor
Azeri state oil company SOCAR and Norway's Equinor on Wednesday signed a risk service contract for the development of the Karabakh offshore oil and natural gas field in the Caspian Sea.The two companies also signed a product-sharing agreement for Ashrafi, Dan-Ulduzu and Aypara exploration area."The agreements signed today represent a natural next step in the region. This will strengthen our position in a prolific basin and develop growth options," Equinor Chief Executive Eldar Saetre said in a statement.To operate the licences, Equinor and SOCAR will form a 50-50 joint operating company.
Ghana to Award New Oil Blocks off West Coast
coast beginning this year, the energy ministry said on Thursday.The West African country plans to award six of the nine blocks this year while the remaining three will be given out next year through a mix of open competitive tender and direct negotiations, the ministry said in a statement.It said state oil company Ghana National Petroleum Corporation will acquire one of the blocks to explore in partnership with a strategic partner to develop its technical capacity and become an operator.Ghana, which began commercial crude production in late 2010, currently produces around 180,000 barrels per day
Rosneft: South China Sea Drilling is Within Vietnam Waters
Drilling in the South China Sea by Rosneft is within Vietnamese territorial waters, the Russian state oil firm said in a statement on Thursday, two days after its Vietnamese subsidiary began drilling in Vietnamese waters claimed by China.Rosneft's local unit, Rosneft Vietnam BV, is concerned that its recent drilling in an area of the South China Sea that falls within China's "nine-dash line" could upset Beijing, two sources with direct knowledge of the situation told Reuters on Wednesday."Offshore license areas of Rosneft on the South China Sea are situated within the territorial
25 More Years in the ACG Field
Statoil, together with co-venturers and the Azerbaijan Government sign amended and restated Azeri-Chirag-Deepwater Gunashli PSA. The Azerbaijan Government and the State Oil Company of the Republic of Azerbaijan (SOCAR) together with BP, Statoil, Chevron, INPEX, ExxonMobil, TPAO, ITOCHU and ONGC Videsh today sign the amended and restated Azeri-Chirag-Deepwater Gunashli (ACG) Production Sharing Agreement (PSA) which will be effective until the end of 2049. The agreement was signed today in Baku and is now subject to ratification by the Parliament (Milli Majlis) of the Republic of Azerbaijan.
Subsea Construction Vessel Launched in Azerbaijan
The vessel was named Khankendi by the President of Azerbaijan, H.E. Ilham Aliyev, at a ceremony in Baku Shipyard and launched by the Shah Deniz consortium. Baku Shipyard LLC, a joint venture between Keppel Offshore & Marine Ltd (Keppel O&M), State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC), has completed a Subsea Construction Vessel (SCV) for the Caspian region. The Khankendi will be deployed to the Shah Deniz field where it is expected to perform subsea installation and construction work over the next eleven years. The SCV was specifical
February 2024
