Saipem’s Puliti gave the example of the need for offshore wind installation vessels. He said there was a “clear need” for new vessels, “otherwise there is no way that demand in the next three to five years can be satisfied by supply. But no one has the courage to invest today”.
Looking at inspection alone, “the FlatFish case is compelling and it's credible. As long as the client is willing to count and sum up all the benefits, it makes perfect sense.”
A statement from Petroperu said authorities had arrested two of its workers. The two workers were a pipeline area supervisor and a community relations coordinator.
The major point flagged by the charges concern a contract win from late 2014. Swiber at the time said it had won a $710 million contract in West Africa.
In addition, the Biden administration has announced plans to award $1 billion to stimulate demand for hydrogen to provide “market certainty” and ensure demand.
“I hope this marks the beginning of Sarawak’s very own venture into oil and gas production – by Sarawak, for Sarawak,” the premier said. He called for the companies to rename the field as the “Grand New Lady of Sarawak”.
“BP is paying half a billion pounds per year” on its 3 GW commitment. “It will take not less than six years, although they say it will take four. No project has been developed that fast,” Gorski said.
“OML 18 will only contribute about 30% of the exports. So many people have signed up and want to sign up – we’re going to reach full capacity very quickly,” Fanning said.
The stoppage at Tamar could result in lower shipments to buyers in Europe, who are increasingly reliant on alternatives to Russian pipeline flows, especially during the winter heating season.
“We believe that the scale of OML 18 and the efficiencies that ELI's new infrastructure will bring represents a very exciting opportunity for us and all investors in San Leon."
Blue hydrogen is around half the price of green, he noted, after normalising for incentives and penalties. “The models show then that green hydrogen takes over, at around a decade out.”
Frontline will use the cash from the share sale, plus various financing facilities, to buy 24 VLCCs from Euronav. The company said this was an “integrated solution to the strategic and structural deadlock”.
Allseas will deploy its Pioneering Spirit, the world’s largest construction vessel, to begin in early December 2023. Allseas will also use its Oceanic offshore support vessel.