Latest news with #offshore
Reuters
a day ago
- Business
- Reuters
TotalEnergies increases Suriname position with new offshore block interest
PARIS, June 27 - French oil major TotalEnergies ( opens new tab has acquired a 25% interest in Block 53 offshore Suriname from Spanish firm Moeve, it said on Friday. The block is adjacent to the Gran Morgu development, which Total took a final investment decision on in October.
Yahoo
2 days ago
- Business
- Yahoo
SLB's OneSubsea secures EPC contract for Northern Lights project
OneSubsea, a joint venture of global technology company SLB, has secured an engineering, procurement and construction (EPC) contract from Equinor for phase two of the Northern Lights carbon capture and storage (CCS) project offshore Norway. This contract signifies a major step in the project following the final investment decision (FID) by Northern Lights' owners – TotalEnergies, Shell and Equinor – and a commercial agreement with an end-use customer. The contract awarded to SLB OneSubsea includes the engineering and construction of two new satellite subsea CO₂ injection systems with associated tie-in equipment. Project work has already begun, with the initial deliveries anticipated in 2026. This contract comes after the successful completion and delivery of two subsea injection systems for the project's first phase in 2023. The Northern Lights project, part of the world's first open-source, full-scale value chain for CO₂ capture, transport and storage services, is set to expand its capacity from 1.5 million tonnes (mt) to a minimum of 5mt of CO₂ per year with phase two. The project's growth is also supported by a grant from the Connecting Europe Facility for Energy funding scheme. SLB OneSubsea CEO Mads Hjelmeland said: 'Equinor's enduring commitment to subsea standardisation is now yielding substantial benefits across new offshore value chains, including CO₂ storage. By utilising standardised components, we achieve reduced risk and economies of scale, which enhance both traditional and innovative subsea projects. 'The Northern Lights project is pivotal for Europe's path toward net-zero emissions, and it is well aligned with our own strategy to expand the frontiers of subsea for a sustainable energy future.' In May 2025, the Northern Lights project received all necessary permits to inject and store CO₂ in the Aurora CCS licence in the North Sea. With phase one development completed and fully booked, the project is poised to start operations in the second half of 2025, offering CO₂ storage services to industrial customers. In a related development, SLB, in partnership with Subsea 7, secured a substantial engineering, procurement, construction and installation contract from bp for the Ginger project offshore Trinidad and Tobago last month. "SLB's OneSubsea secures EPC contract for Northern Lights project" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
Libya Signs Geological, Geophysical MoU with Türkiye on Offshore Areas, NOC Says
Libya's National Oil Company (NOC) had signed a memorandum of understanding with Turkish state oil company TPAO to conduct a geological and geophysical study of four offshore areas, NOC said on Wednesday, Reuters reported. "Discussions were also held regarding conducting a two-dimensional seismic survey (10,000 km long), and processing the data resulting from these surveys within a period not exceeding 9 months," Libya's state oil firm said in a statement. NOC said the agreement was signed in Istanbul by the two companies' executives. It provided no further details.
Globe and Mail
4 days ago
- Business
- Globe and Mail
Subsea Thermal Insulation Materials Market: Strategic Insights, Trends, and Opportunities Through 2030
The Subsea Thermal Insulation Materials Market is gaining momentum due to rising deepwater and ultra-deepwater exploration activities. These materials are vital for flow assurance and energy efficiency in harsh subsea environments. Innovation in epoxy, polypropylene, and silicone-based materials continues to drive demand. Key players include BASF SE, Dow Inc., Advanced Insulation, Shawcor Ltd., and TechnipFMC, focusing on advanced insulation technologies and global offshore expansion. In 2025, the global subsea thermal insulation materials market is estimated to be valued at USD 256.7 million. It is projected to reach USD 316.6 million by 2030, registering a CAGR of 4.3% during the forecast period. This research report provides a comprehensive analysis of the industry, including subsea thermal insulation materials market size, trends, drivers and constraints, competitive aspects, and prospects for future growth. The subsea thermal insulation materials market is expected to register robust growth, driven primarily by an upsurge in offshore oil & gas operations. As energy companies increasingly invest in deepwater and ultra-deepwater exploration and production, there is a pressing need for efficient subsea pipeline thermal management systems. These systems are critical for maintaining optimal fluid temperatures in extreme, high-pressure, and sub-zero underwater environments. Inadequate insulation can lead to seawater intrusion, resulting in significant temperature drops. This phenomenon can trigger the formation of hydrates and wax deposits, disrupting flow and jeopardizing equipment integrity and operational efficiency. Thus, there is a strong demand for advanced insulation solutions that ensure flow assurance, enhance safety, and reduce maintenance costs across subsea operations. Download PDF Brochure: Epoxy to be fastest-growing segment in subsea thermal insulation materials market during forecast period Epoxy resins are emerging as the leading choice for insulation in subsea applications due to their remarkable mechanical properties and superior adhesion capabilities. These materials exhibit excellent resistance to both water exposure and various chemical agents, making them ideal for extreme underwater environments. Epoxy coatings provide robust thermal insulation, complemented by a durable protective layer that enhances the longevity of subsea equipment and pipelines. In deepwater and ultra-deepwater settings, the performance of epoxy-based insulation systems is critical, as they must demonstrate reliability under high-pressure and low-temperature conditions. The technical characteristics of epoxy coatings facilitate their application on various complex underwater structures, including manifolds, jumpers, and tie-ins. As offshore projects extend into deeper waters and face increasingly challenging environmental parameters, the demand for effective epoxy insulation solutions continues to grow. Other filler types segment accounted for second-large share of subsea thermal insulation materials market in 2024 The other filler types segment held the second-large share of the global subsea thermal insulation materials market in 2024. Ceramic microspheres serve as lightweight hollow fillers that significantly reduce the weight of insulation systems while enhancing thermal performance and resistance in high-pressure, high-temperature (HPHT) environments commonly encountered in deepwater and ultra-deepwater projects. These microspheres improve the mechanical properties and stability of insulation systems, making them suitable for application in flowlines, risers, and various equipment. Furthermore, their compatibility allows engineers to effectively blend them with polyurethane and epoxy insulation materials, optimizing the overall effectiveness of insulation solutions in challenging settings. Pipe-in-pipe segment accounted for second-largest share of subsea thermal insulation materials market in 2024 The pipe-in-pipe segment held the second-largest share of the global subsea thermal insulation materials market in 2024. An insulated carrier pipe is positioned within an outer protective pipe, creating an additional thermal barrier that effectively mitigates the formation of hydrates and waxes in subsea operations characterized by high-pressure and low-temperature environments. The integration of extended tiebacks and elevated operating pressures, coupled with exceptional temperature resilience, positions the pipe-in-pipe solution as the preferred choice for intricate offshore projects. The rising demand for deepwater developments has notably accelerated the implementation of pipe-in-pipe systems in the industry. Europe held largest share of global subsea thermal insulation materials market in 2024 In 2024, Europe held the largest share of the global subsea thermal insulation materials market. Over the past several decades, Norway, the UK, and the Netherlands have made significant investments in offshore exploration and production, fostering sophisticated technical competencies to navigate complex subsea projects. The region continues to extend the operational lifespan of existing offshore fields while introducing new deepwater and harsh-environment ventures to sustain a robust demand for advanced thermal insulation materials. The European market prioritizes safety and operational excellence and exhibits a strong commitment to environmental regulations, which facilitates the effective implementation of reliable subsea thermal insulation solutions. The dominance of subsea thermal insulation materials in the European market can be attributed to the maturity of offshore operations and ongoing field development, paired with stringent regulatory frameworks that govern these activities. Subsea Thermal Insulation Materials Companies The report profiles key companies operating in the subsea thermal insulation materials market, including Aspen Aerogels, Inc. (US), Cabot Corporation (US), AIS (UK), Tenaris S.A. (Luxembourg), Vipo AS (Norway), and Kingspan Group (Ireland). Tenaris S.A. (Luxembourg) manufactures and supplies steel pipe products and associated services, primarily serving the energy industry and various industrial applications. Its clientele includes many of the world's top oil & gas companies. The company operates a fully integrated network of manufacturing, research, finishing, and service facilities across the Americas, Europe, the Middle East, Asia, and Africa. Tenaris's core focus remains on the oil & gas industry. It also provides steel pipes and tubular components for various non-energy applications. In addition, the company is actively engaged in supporting the energy transition by developing and delivering solutions for low-carbon energy initiatives, including geothermal wells, waste-to-energy (bioenergy) plants, hydrogen storage and transportation, and carbon capture and storage (CCS) projects. Kingspan Group (Ireland) is a global leader in insulated panels and high-performance insulation solutions. The group operates through five core segments: Insulated Panels, Insulation, Light, Air + Water, Data Solutions, and Roofing + Waterproofing. Kingspan offers innovative, ultra-high-performance products for piping and ducting applications within the Insulation segment. Through its LOGSTOR business, the company serves the district heating market by providing advanced pre-insulated piping systems. Kingspan LOGSTOR is a member of the Kingspan Group, a leading global provider of complete pre-insulated pipe solutions and services. Headquartered in Løgstør, Denmark, LOGSTOR employs approximately 1,400 professionals across 12 countries. The company operates seven strategically located sites throughout Europe. Kingspan LOGSTOR provides high-performance thermal insulation for the oil & gas industry. AIS (UK), formerly Advanced Insulation Systems, is a global leader in designing, manufacturing, and applying insulation and passive fire protection systems, along with buoyancy and subsea, umbilical, risers, and flowlines (SURF) solutions. Its advanced material technologies exhibit critical performance across various industries and sectors, such as energy, industrial, automotive, chemical, and marine. AIS operates from 14 locations worldwide, supporting a strong global presence. Cabot Corporation (US) is a global specialty chemicals and performance materials company. It offers a diverse portfolio, including reinforcing and specialty carbons, specialty compounds, conductive carbons, carbon nanotubes, fumed metal oxides, inkjet colorants, and aerogel. The company operates manufacturing facilities and maintains business operations in the US and over 20 other countries. Cabot's operations are structured into two primary business segments: Reinforcement Materials and Performance Chemicals. The Performance Chemicals segment is divided into two key businesses: Performance Additives and Formulated Solutions. The Performance Additives business encompasses specialty carbons, battery materials, fumed metal oxides, and aerogel product lines. Through the Performance Chemicals segment, Cabot designs, manufactures, and sells advanced materials that enhance performance across various applications in industries and sectors such as automotive, construction, infrastructure, inkjet printing, electronics, and consumer goods, as well as applications related to the generation, transmission, and storage of energy. The company delivers solutions for rubber mining applications, subsea pipelines, industrial insulation, and others. Aspen Aerogels, Inc. (US) is an aerogel technology company. It designs, develops, and manufactures innovative, high-performance aerogel products primarily for the energy industrial sector, sustainable insulation applications, and the electric vehicle (EV) market. For nearly 20 years, the company has supplied high-performance aerogel insulation solutions to the energy, industrial, and sustainable insulation markets. It operates through the Industrial and Thermal Barrier segments. Aspen Aerogels, Inc. has sales personnel located across North America, Europe, and Asia. The company provides insulation systems for subsea pipe-in-pipe applications. About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Reuters
4 days ago
- Business
- Reuters
US Senate parliamentarian says oil, gas projects can't skirt environmental review
WASHINGTON, June 24 (Reuters) - The massive U.S. tax and budget bill being finalized by Congress cannot pass a provision that automatically enables offshore oil and gas projects to skip over the federal environmental review process unless it gets at least 60 Senate votes, the body's parliamentarian said on Monday. This is among the latest provisions that have been struck by Senate parliamentarian Elizabeth MacDonough, whose role is to ensure that lawmakers follow proper legislative procedure, such as requiring 60 out of 100 Senate votes instead of a simple majority. The parliamentarian is combing through the budget megabill to ensure it complies with the decades-old Byrd Rule, which prohibits provisions that are 'extraneous' to the federal budget in large pieces of legislation. The list of problematic provisions flagged by MacDonough adds additional hurdles as Senate Majority Leader John Thune, House Speaker Mike Johnson and administration officials are pressing Republican lawmakers to pass the OBBB Act so President Donald Trump can sign it into law before the July 4 U.S. Independence Day holiday. The parliamentarian has said that provisions in OBBB that deem offshore oil and gas projects as automatically compliant with the National Environmental Policy Act require would require a higher vote threshold. The parliamentarian also said that a controversial provision championed by Senator Mike Lee that would authorize the sale of millions of acres of Bureau of Land Management and U.S. Forest Service lands should be removed from the bill, as well as a provision that greenlights the construction of a mining road in Alaska. She also flagged a provision that enabled gas exporters to pay to allow their projects to be deemed "in the national interest," a time-consuming determination usually made by the federal government; a section that requires oil and gas leases to be issued to successful bidders within 90 days and one that removes the ability of the Interior secretary to reduce fees for renewable energy on federal lands as needing to face a higher vote threshold. Thune has said repeatedly that he will not overrule the parliamentarian. On Monday, he told reporters that the process is "something we have to go through." "They're working through it. And in some cases, as things are flagged, we're making counter offers,' he said. Senator John Cornyn also told reporters on Monday: 'We don't know what the end-product is going to look like. But we're going to keep trying to maximize what we can do using reconciliation.' The parliamentarian said last week that a proposed rollback in the OBBB of the Environmental Protection Agency's new emissions limits for medium- and heavy-duty vehicles like delivery trucks and a provision enabling companies to pay to opt out of the environmental permit review process can't pass without 60 votes. Thune aims to begin Senate action by the middle of this week and complete passage by the weekend, sending the bill back to the House for final approval. Senate Democrats said they will continue to ensure that the OBBB gets thorough scrutiny. 'Democrats will not stand idly by while Republicans attempt to circumvent the rules of reconciliation in order to sell off public lands to fund tax breaks for billionaires," said Senator Jeff Merkeley, top Democrat on the Senate budget committee.
