Offshore oil and gas companies should expect continued scrutiny of their health and safety practices in 2024 despite a recent report suggesting that the industry has never been safer to work in, experts say
Despite the recent bearishness, investors are still betting heavily on one corner of the market: offshore oil and gas.
The Clarksons Offshore Index is projected to reach all-time high in 2024.
Rig, OSV and Subsea markets are particularly robust, with oil and gas vessel rates now higher than 2014 levels in the majority of sectors/regions.
All emerging nations, not just our own, struggle with electricity. And the straightforward explanation that
electricity is either not available or not available in accordance with demand, etc., is often given. Scientists
have taken the initiative to develop a new device that uses the temperature differential between the European
deep sea and the surface to create power, in an effort to avert this electrical crisis. They have achieved a
completely sustainable and continuous electricity supply by addressing climate change. For the benefit of the
free market economy, there is a growing demand for and use of alternative fuels, particularly as the cost of
petrol and petroleum goods keeps rising. The concept of utilising gasoline made from alternative energy is
not new. For many reasons, it could not be put into reality. Interest in these alternative power generating
methods is growing as energy prices rise in nations like Germany. They are considering using the heat from
the water to create power. Typically, the sea surface temperature is at least 25 degrees Celsius. In contrast, the
sea’s temperature at a depth of 1000 metres is around 4 degrees Celsius. In other words, there is a temperature
differential of more than 20 degrees between the two levels. According to scientists, this disparity in the
water may be used to produce power.
On the northeastern tip of South America, there are three little countries stacked in a row; anomalies of empire whose imperial histories still have resonance today. Guyana, Suriname and French Guiana. One formerly of the British Empire; one formerly of the Dutch Empire; one still an overseas department of France and all speaking the language that their colonial masters left them. Of these, Guyana, formerly British Guyana and the only English-speaking country in South America, has been in the news lately following a referendum in Venezuela where President Maduro invited Venezuelans to decide if a large chunk of Guyana should, in fact, be Venezuelan. Given the vast oil riches off the coast of Guyana, the referendum unsurprisingly passed. Once the sabre-rattling verbal aggression died down, there was agreement that no one wanted to go to war and that the foreign ministers of each country would negotiate a solution over the next three months.
TotalEnergies has received government approval for drilling in South Africa’s Orange Basin, a key part of the company’s plans in the country.
Environmental groups have been resisting TotalEnergies’ efforts due to concerns about the impact on marine life and the risk of oil spills.
TotalEnergies has strategically shifted its focus in the country from downstream activities and is now fully focused on its upstream operations.
(WO) –Jadestone Energy plc, an independent upstream oil and gas production company focused on the Asia-Pacific region, announced that the final well in the company’s 2023 East Belumut drilling campaign offshore Peninsular Malaysia has now been completed. The overall program has delivered results significantly ahead of expectations.
(WO) –Jadestone Energy plc, an independent upstream oil and gas production company focused on the Asia-Pacific region, announced that the final well in the company’s 2023 East Belumut drilling campaign offshore Peninsular Malaysia has now been completed. The overall program has delivered results significantly ahead of expectations.
With funding from the National Academies of Sciences, Engineering, and Medicine, the Argonne National Laboratory will explore using a method known for analyzing nuclear systems to enhance safety in offshore oil and gas operations in the Gulf of Mexico.
(WO) – BrasFELS Shipyard (BrasFELS), a member of the Seatrium Group, has secured a contract from Offshore Frontier Solutions Pte. Ltd, a MODEC Group company, to undertake parts of the topside modules fabrication of a Floating Production Storage and Offloading (FPSO) for the Raia project in Brazil, operated by Equinor.
Oil and gas supermajor, Eni, will invest $10 billion toward the development of the Baleine field offshore Ivory Coast. The investment will be made in three phases between 2023 and 2027 and will result in the production of 200,000 barrels of crude oil per day (bpd).