Exploring OEEC: Accent on subsea infrastructure security and integrated energy models

While the oil and gas sector continues to take steps toward low-carbon and zero-emission production, the offshore energy ecosystem faces many challenges, including geopolitical factors and climate change. However, it also needs to contend with security woes and ways to tackle them while coming to grips quickly with any issues compromised safety may bring to avoid supply shortages and strengthen energy security. These and many other topics, including the transition to clean energy, were thrust into the limelight during the Offshore Energy Exhibition and Conference (OEEC) 2024.

A dive into the top themes that featured prominently at this year's edition of OEEC highlights data driven insights; seabed security and the need to protect subsea energy and telecommunication infrastructure; carbon capture and storage (CCS) as an important liver in the energy transition; the impact of U.S. elections on climate change goals and the renewable energy growth with Liz Burdock, President and CEO of Oceantic Network , providing an optimistic outlook for the offshore wind sector in America, as Burdock is convinced the states will do their own thing even if Donald Trump, once he returns to the White House in January, withdraws from climate agreements.

◈ During the second day, one of the interesting discussions revolved around the impact of behavioral patterns as default settings, delving into how beliefs shape action in the energy transition landscape. Among the key global topics emphasized at OEEC 2024 are integrated planning and development of energy infrastructure, thus, speakers discussed infrastructure development perspectives for offshore wind, electricity, hydrogen, CO2, and natural gas. These speakers paid special attention to the needs and challenges of such integrated infrastructure planning at the EU level and the North Sea basin, delving into reused and remaining to-be-repurposed methane infrastructure. Another crucial topic was the overall security of the energy infrastructure and the secure transition, hammering home the need to handle various facets, including:

🔹 𝙀𝙣𝙨𝙪𝙧𝙞𝙣𝙜 𝙩𝙝𝙚 𝙨𝙖𝙛𝙚𝙩𝙮 𝙤𝙛 𝙤𝙛𝙛𝙨𝙝𝙤𝙧𝙚 𝙚𝙣𝙚𝙧𝙜𝙮 𝙞𝙣𝙛𝙧𝙖𝙨𝙩𝙧𝙪𝙘𝙩𝙪𝙧𝙚

🔹 𝙁𝙤𝙘𝙪𝙨𝙞𝙣𝙜 𝙤𝙣 𝙘𝙮𝙗𝙚𝙧 𝙨𝙚𝙘𝙪𝙧𝙞𝙩𝙮 𝙞𝙣 𝙩𝙝𝙚 𝙚𝙣𝙚𝙧𝙜𝙮 𝙨𝙚𝙘𝙩𝙤𝙧

🔹 𝘼𝙘𝙘𝙚𝙡𝙚𝙧𝙖𝙩𝙞𝙣𝙜 𝙩𝙝𝙚 𝙙𝙚𝙫𝙚𝙡𝙤𝙥𝙢𝙚𝙣𝙩 𝙤𝙛 𝙘𝙡𝙚𝙖𝙣 𝙚𝙣𝙚𝙧𝙜𝙮 𝙖𝙣𝙙 𝙘𝙡𝙚𝙖𝙣 𝙛𝙪𝙚𝙡 𝙥𝙧𝙤𝙟𝙚𝙘𝙩𝙨

OEEC is one of the most prominent and comprehensive events across Europe and wider regions, dedicated to the global energy, maritime, and related offshore industries, alongside the supply chain servicing these arenas.

Oil & gas, drilling, and LNG projects make headway

Global shocks likely put 2030 emissions cuts out of reach based on a recent report from Wood Mackenzie, which looks into four energy pathways: base case (2.5 degrees), country pledges scenario (2 degrees), net zero 2050 scenario (1.5 degrees), and delayed transition scenarios.

This report forecasts that a $78 trillion investment will be needed across the power supply, grid infrastructure, critical minerals, and emerging technologies to meet the goals of the Paris Agreement. WoodMac underlines that global energy demand is on the rise, driven by upticks in incomes, population, and the emergence of new demand sources such as data centers and electric vehicles.

The report emphasizes that strong solar and wind power growth is a given in the energy transition journey, thus, it continues under all scenarios, supplying 25% and 36% of total power output by 2030, and between 53% and 61% by 2050. However, Wood Mackenzie is adamant that renewables alone will not be able to meet future energy needs in most markets. As a result, oil and gas are projected to keep playing a role in the global energy system up to 2050.

🌊 𝐑𝐢𝐠 𝐥𝐨𝐠𝐬 𝐢𝐧 𝐨𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐝𝐫𝐢𝐥𝐥𝐢𝐧𝐠 𝐝𝐢𝐚𝐫𝐲🚢

◈ Seatrium and Cochin Shipyard Limited have teamed up to deliver mobile offshore drilling units (MODUs), designed specifically to meet the needs of the Indian offshore market.

◈ Valeura Energy Inc. has moved Borr Drilling 's jack-up rig to its next field for a multi-well infill drilling program after achieving an oil production boost following the rig's previous five-well infill drilling program at another field off the coast of Thailand.

◈ One of Transocean 's rigs, which is on an assignment in Australia, is getting Salunda 's patented zone monitoring technology.

◈ Velesto Energy Berhad has made up its mind to move up a special periodic survey (SPS) for one of its rigs, making it ready for future drilling assignments.

◈ Galp has confirmed the discovery of light oil and gas-condensate in the first well within its second exploration and appraisal program in Namibia's Orange Basin, which is being carried out with one of Saipem 's drillships.

◈ Shelf Drilling got a new drilling assignment for one of its jack-up rigs in Nigeria.

◈ DNO ASA 's new oil discovery in the southern North Sea is seen as a play opener in an area previously dubbed ‘the dry belt,’ where hydrocarbon exploration was of little interest in recent years.

🛳️ Rig moves 🛥️

◈ Eldorado Drilling's Atlantic Zonda drillship has reached Brazil after a short stay in Cape Town following its departure from Singapore. The rig is scheduled to begin its three-year drilling assignment with Petrobras next year.

◈ Seadrill 's West Capella drillship has left Malaysia to embark on its trip to South Korea, where it will kick off a one-well drilling gig with Korea National Oil Corporation in December 2024, targeting the Blue Whale-1 prospect in Yeongil Bay, which is located off the coast of Pohang.

◈ Valaris Limited 's Valaris DS-4 drillship has kicked off its $519 million contract with Petrobras after it wrapped up customer-required capital upgrades. The 1,064-day assignment in Brazil enables the rig to work in the Santos Basin.

◈ A new 400-day assignment will allow Constellation Oil Services 's Lone Star semi-submersible rig to drill four wells for BRAVA Energia at the Papa Terra and Atlanta fields from the fourth quarter of 2025. This deal is in direct continuation of the rig’s current gig with Petrobras at the Barracuda field in Brazil's Campos Basin and comes with a 60-day priced option for a potential workover well, which could extend the contract into the first quarter of 2027.

◈ Valaris' DS-9 drillship has left Las Palmas in the rearview mirror and is on its way to Egypt, after securing more work with ExxonMobil , which is due to begin in July 2025. and take 6 months to be completed. The rig's contract will the U.S. oil major will enable it to carry out drilling activities not only in Egyptian waters but also off the coasts of Cyprus and Angola. Just like Chevron, ExxonMobil is planning to embark on a drilling campaign in the Eastern Mediterranean. As a result, one well is slated to be spud in Egypt’s North Marakia concession during the fourth quarter of 2024 while two wells at Cyprus' Block 5 on the Electra prospect and Block 10.

◈ Noble Corporation 's Noble Viking drillship has started its voyage to Block SB 3K offshore Sabah to spin the drill bit at PETRONAS ' Megah-1 prospect offshore Malaysia.

🛢️𝐎𝐢𝐥 & 𝐠𝐚𝐬 𝐬𝐭𝐨𝐫𝐢𝐞𝐬 𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐨𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐞𝐧𝐞𝐫𝐠𝐲 𝐛𝐨𝐨𝐤𝐬 ⛽

◈ Israel’s Navitas Petroleum has delayed a final investment decision (FID) for its Sea Lion oil project in the North Falkland Basin to mid-2025 after costs for Phase 1 increased to $1.4 billion. The total capex for all three phases of the project is estimated to reach $4 billion. The boost in oil resources of 16% in the overall NFB portfolio has also been confirmed compared to the previously certified 2C resource.

◈ Fulan Offshore Engineering Co., Ltd has completed its work at an oilfield project in the Bohai Sea, using one of its cable lay barges (CLBs), which previously worked on offshore wind projects.

◈ Prysmian is delivering cables at its Norwegian factory for Aker BP ASA 's oil and gas development projects in the Norwegian North Sea, which enabled it to uplift its headcount.

◈ Saipem has been selected by bp to take care of work related to offshore facilities for natural gas production and transportation alongside carbon capture, utilization, and storage (CCUS) at the energy giant's Asian integrated project.

◈ QatarEnergy has set the wheels in motion to acquire further interests in two blocks off the coast of Namibia.

◈ bp is progressing with work to develop and bring online a subsea gas project off the southeast coast of Trinidad and Tobago. Currently, Subsea7 's pipe-laying vessel is preparing for subsea installation work, moving the project closer to the first gas in 2025.

◈ Petrobras has launched the opportunity disclosure stage to divest its non-operated interest in a producing shallow water field within the Sergipe-Alagoas Basin offshore Brazil.

◈ OMV Petrom has made arrangements with NewMed Energy to transfer part of its interest in an offshore block in Bulgaria’s part of the Black Sea to the Israeli player, effectively allowing it to play a part in the planned hydrocarbon exploration activities.

◈ Hartshead Resources NL and Viaro Energy 's RockRose Energy are expected to provide North Sea Transition Authority with insights regarding an alternative export route for their gas project in the UK North Sea.

◈ Eni has added four offshore exploration blocks to its oil and gas portfolio in Côte d’Ivoire as it works to complete the second stage of its oil and gas development in the African country.

◈ ADNOC Group has established XRG as a new investment player in low-carbon energy, natural gas, and chemicals investment company with an enterprise value of over $80 billion.

◈ KCA Deutag's deal enables Axess Group to remain on an assignment covering multiple platforms on the Norwegian Continental Shelf (NCS).

◈ OKEA ASA has sold its stake in a North Sea field, operated by Repsol , to Rex International Holding Limited 's Lime Petroleum AS .

◈ Equinor and Tenaris have celebrated the completion of steel pipe production for a natural gas project off the coast of Brazil.

◈ Yinson Production and PTSC JV are tasked with providing an FSO for Murphy Oil Corporation's oilfield development project off the coast of Vietnam.

◈ China National Offshore Oil Corp. has begun production from another oilfield development project in the South China Sea.

◈ Petrobras has launched a new FPSO procurement process for up to two units that will work in the Sergipe Alagoas Basin offshore Brazil.

⚙️ 𝐋𝐍𝐆 𝐜𝐡𝐚𝐩𝐭𝐞𝐫𝐬 𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐞𝐧𝐞𝐫𝐠𝐲 𝐭𝐨𝐦𝐞 📊

◈ Eni has launched at Wison New Energies 's facilities the hull of its new floating liquefied natural gas unit in time to bring it online next year at its LNG project off the coast of Congo, as planned.

◈ OLT OFFSHORE LNG TOSCANA , controlled by Snam S.p.A. and Igneo Infrastructure Partners , has restarted its FSRU following the unit's return off the coast of Livorno.

◈ ADNOC Logistics & Services is another LNG carrier richer after taking delivery of the first newbuild vessel from Jiangnan Shipyard in China.

◈ One of FLEX LNG 's vessels is booked up to 2041 with an extension option on the table to stay on the assignment up to 2043.

◈ YPF has come aboard an FLNG project, which is being developed by Golar LNG and Pan American Energy off the coast of Argentina.

◈ GAIL (India) Limited penned a time charter deal with "K" line (Kawasaki Kisen Kaisha, Ltd) for a new LNG vessel, which is going to be constructed by Samsung Heavy Industries .

◈ Thanks to a new agreement between QatarEnergy and Shell , China is getting more liquefied natural gas.

🍃𝐄𝐧𝐞𝐫𝐠𝐲 𝐭𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 𝐩𝐚𝐠𝐞𝐬 𝐢𝐧 𝐧𝐞𝐭 𝐳𝐞𝐫𝐨 𝐭𝐚𝐥𝐞𝐬 ☀️

◈ Damen and Herman Senior b.v.. have pooled resources to bring a new methanol-ready diesel-electric multipurpose vessel (MPV) to life, which will be able to undertake a broad scope of assignments, such as cargo transportation, maintenance duties for offshore energy sectors, diving support operations, pipeline work, cable maintenance & repair.

While keeping an eye firmly on sustainability, John Krielaart, Damen Shipyards Hardinxveld Design & Proposal Engineer responsible for the MPV 4916, highlighted: “𝑻𝒉𝒊𝒔 𝒊𝒔 𝒂 𝒃𝒐𝒂𝒕 𝒕𝒉𝒂𝒕 𝒕𝒊𝒄𝒌𝒔 𝒂𝒍𝒍 𝒕𝒉𝒆 𝒃𝒐𝒙𝒆𝒔. 𝑻𝒉𝒆 𝑴𝑷𝑽 4916 𝒂𝒍𝒍𝒐𝒘𝒔 𝒇𝒐𝒓 𝒕𝒉𝒆 𝒖𝒔𝒆 𝒐𝒇 𝒂 𝒔𝒊𝒏𝒈𝒍𝒆 𝒑𝒍𝒂𝒕𝒇𝒐𝒓𝒎 𝒂𝒏𝒅 𝒄𝒓𝒆𝒘 𝒕𝒐 𝒑𝒆𝒓𝒇𝒐𝒓𝒎 𝒕𝒉𝒆 𝒘𝒊𝒅𝒆𝒔𝒕 𝒑𝒐𝒔𝒔𝒊𝒃𝒍𝒆 𝒓𝒂𝒏𝒈𝒆 𝒐𝒇 𝒘𝒐𝒓𝒌𝒃𝒐𝒂𝒕 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔. 𝑻𝒉𝒆 𝒔𝒕𝒂𝒏𝒅𝒂𝒓𝒅 𝒗𝒆𝒔𝒔𝒆𝒍 𝒄𝒂𝒏 𝒃𝒆 𝒓𝒆𝒄𝒐𝒏𝒇𝒊𝒈𝒖𝒓𝒆𝒅 𝒇𝒐𝒓 𝒄𝒉𝒂𝒏𝒈𝒆 𝒐𝒇 𝒖𝒔𝒆, 𝒐𝒓 𝒇𝒐𝒓 𝒑𝒓𝒐𝒋𝒆𝒄𝒕 𝒔𝒑𝒆𝒄𝒊𝒇𝒊𝒄 𝒕𝒂𝒔𝒌𝒔, 𝒐𝒇𝒇𝒆𝒓𝒊𝒏𝒈 𝒂𝒅𝒅𝒆𝒅 𝒗𝒂𝒍𝒖𝒆."

📰For more recent news, check out these headlines and visit our website:

• 🔗 MISC, Gentari partner up on ammonia shipping and floating solutions
• 🔗 Hellenic Cables cheers certification of dynamic power cable for offshore wind and oil & gas platform electrification

Thanks for reading this newsletter and stay tuned for our next edition!

Kind Regards,

𝑴𝒆𝒍𝒊𝒔𝒂 Č𝒂𝒗č𝒊ć

Senior Editor at Offshore Energy Today, now known as Offshore Energy's Fossil Energy market

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📍🌊 𝗖𝗼𝗺𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗢𝗳𝗳𝘀𝗵𝗼𝗿𝗲 𝗘𝗻𝗲𝗿𝗴𝘆 𝗘𝘅𝗵𝗶𝗯𝗶𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟱 𝗼𝗻 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟱 & 𝟮𝟲 𝗮𝗻𝗱 𝗱𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗼𝗳𝗳𝘀𝗵𝗼𝗿𝗲 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆'𝘀 𝗱𝗲𝗽𝘁𝗵𝘀 𝘄𝗶𝘁𝗵 𝘂𝘀, 𝗮𝘀 𝘄𝗲 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀 𝗮𝗻𝗱 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗲𝗻𝗲𝗿𝗴𝘆 𝗮𝗻𝗱 𝗺𝗮𝗿𝗶𝘁𝗶𝗺𝗲 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀, 𝗱𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝗶𝗻𝗴 𝗮𝗹𝗹 𝘁𝗵𝗲 𝗿𝗼𝗮𝗱𝘀 𝘁𝗵𝗮𝘁 𝗹𝗲𝗮𝗱 𝘁𝗼 𝗲𝗻𝗲𝗿𝗴𝘆 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗮𝗻𝗱 𝘁𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻 𝘁𝗼 𝗮 𝗺𝗼𝗿𝗲 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗳𝘂𝘁𝘂𝗿𝗲!

⚓⚡ 𝗪𝗲 𝗹𝗼𝗼𝗸 𝗳𝗼𝗿𝘄𝗮𝗿𝗱 𝘁𝗼 𝘀𝗲𝗲𝗶𝗻𝗴 𝘆𝗼𝘂 𝗮𝘁 #𝗢𝗘𝗘𝗖𝟮𝟬𝟮𝟱 𝘁𝗿𝗮𝗰𝗶𝗻𝗴 𝘁𝗵𝗲 𝗲𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝗽𝗮𝘁𝘁𝗲𝗿𝗻𝘀 𝘁𝗵𝗮𝘁 𝗮𝗿𝗲 𝗺𝗲𝗹𝗱𝗶𝗻𝗴 𝘁𝗼 𝘀𝗵𝗮𝗽𝗲 𝘁𝗵𝗲 𝗳𝘂𝘁𝘂𝗿𝗲 𝗼𝗳 𝗲𝗻𝗲𝗿𝗴𝘆 𝗳𝗼𝗿 𝗮 𝗺𝗼𝗿𝗲 𝗲𝗻𝗲𝗿𝗴𝘆-𝘀𝗲𝗰𝘂𝗿𝗲, 𝗲𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝘁, 𝗮𝗻𝗱 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝘁𝗼𝗺𝗼𝗿𝗿𝗼𝘄 𝗮𝗻𝗱 𝗯𝗲𝘆𝗼𝗻𝗱!

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