The offshore industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
Chesapeake plans to divest $1.4bn worth of Eagle Ford assets to Ineos Energy.
Shell has closed a $2bn acquisition of Danish firm Nature Energy Biogas.
Centrica has announced raw earnings of almost $4bn, record profits for the company.
ADNOC plans to sell 4% of its gas business in an initial public offering to raise $2bn.
Aibel has secured a $790m EPCI contract from Equinor to build two new processing modules.
Indian gas distributor GAIL is considering acquiring up to a 26% stake in a liquefied natural gas (LNG) liquefaction plant or project in the US, reported Reuters, citing a document issued by the company.
The move comes in the wake of supply disruptions faced by GAIL in 2022 following the failure of delivery of LNG cargoes by Russia-owned Gazprom Marketing and Trading due to Western sanctions on Moscow over its invasion of Ukraine.
Natural gas processing and transportation firm Williams and has signed agreements with Chevron USA to support natural gas development in the Haynesville basin, as well as in the deepwater Gulf of Mexico.
Under the deals, Williams will offer natural gas gathering services to the Chevron-owned 26,000-acre field in the Haynesville basin, which covers parts of Texas, Arkansas and Louisiana.
Shell, through its subsidiary Shell Offshore, and Equinor have started production at the Vito deepwater platform in the US Gulf of Mexico.
The move comes approximately 14 years after the discovery of the Vito deepwater field. Shell discovered the Vito oil field in 2009. The field is spread over four outer continental shelf blocks in the Mississippi Canyon.
Malaysian energy major Petronas has offered ten exploration blocks and two clusters of discovered resource opportunities in its annual bid exercise, Malaysia Bid Round 2023 (MBR).
With the theme ‘Winning the Energy Transition with our Advantaged Energy’, the MBR 2023 saw the participation of more than 50 oil and gas companies, government agencies, foreign trade attachés, and energy market consultants.
European Commission approves $2.24bn for floating offshore wind in France
The European Commission has announced in a press release its approval of a $2.24bn (€2.08bn) package to support floating offshore wind electricity production in France.
The measure, granted under EU state aid rules, will help the French Government meet its renewable energy and environmental targets, as well as objectives relating to the EU’s energy transition strategies, the Commission said.
Executive Vice-President of the Commission Margrethe Vestager said in a statement: “The measure adopted today enables France to step up its renewable offshore production capacities, while limiting possible distortions of competition in the single market. It will contribute to achieving the ambitions of the EU Offshore Renewable Energy Strategy and the European Green Deal.”
Read more: Offshore Technology