OTS Offshore Trading & Services Co.,Ltd’s Post

The jack-up rig market size is expected to see strong growth in the next few years. It will grow to $4.72 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to growing offshore wind energy sector, recovery in oil prices, regional market expansion, stringent environmental standards, increasing offshore e&p investments. Major trends in the forecast period include upgradation of aging fleets, deepwater and ultra-deepwater exploration, integration of digital technologies, cost-efficiency measures, market consolidation and collaboration. #jackup #barge #offshore #wind #oilandgas #industry #technician

Diamondback, Halliburton, and VoltaGrid Launch Electric Simul-Frac Fleets in Permian Basin Diamondback Energy, Halliburton, and VoltaGrid are deploying four advanced electric simul-frac fleets across the #PermianBasin to enhance efficiency and sustainability. The collaboration integrates Halliburton's #ZEUS all-electric fracturing technology with VoltaGrid's power generation systems, supported by #200MW of electric power and expanded natural gas infrastructure at Diamondback’s microgrid facility. This innovative approach reflects a commitment to reducing environmental impact while achieving superior operational performance in oil and gas. Danny Wesson stated, “This collaboration reinforces our commitment to driving efficiency and sustainability in oil and gas operations, The integration of Halliburton’s innovative electric fracturing technology and VoltaGrid’s cutting-edge power systems allows us to achieve superior performance while significantly reducing our environmental impact.” #EnergyInnovation #PermianBasin #SustainableOperations #ElectricFrac #Simulfrac #Innovation #JUSTSIMPLYCOOL

Chevron has started oil and natural gas production at its Anchor project, located in the deep waters of the US Gulf of Mexico. This project is notable for utilising high-pressure technology capable of safely operating at up to 20,000 psi, with the ability to reach reservoir depths of 34,000 feet below sea level. "The Anchor project is a technological breakthrough for the energy industry," stated Nigel Hearne, Executive Vice President of Oil, Products and Gas at Chevron. He added, "This pioneering deepwater technology not only allows us to access previously challenging resources but also sets a precedent for future high-pressure developments in the industry." #EnergyConnects #energynews #energyindustry #news #oott #digitaltransformation #oilandgasindustry

𝗦𝘂𝗰𝘁𝗶𝗼𝗻 𝗖𝗮𝗶𝘀𝘀𝗼𝗻𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝟮𝟬𝟮𝟰-𝟮𝟬𝟯𝟮. 𝗚𝗹𝗼𝗯𝗮𝗹 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁. 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆: https://lnkd.in/dbur3SVS Our report provides both quantitative and qualitative aspects of the Suction Caissons Market, examining manufacturers, regional analysis, types, and applications. It also includes company profiles, product examples, and market share estimates for leading competitors in 2024. The Suction Caissons Market is a vital component in the offshore energy industry, particularly in oil and gas extraction and wind energy projects. As global demand for energy rises and the focus on sustainable offshore energy solutions intensifies, suction caissons offer efficient and environmentally friendly foundation solutions. This market is driven by technological advancements, increasing offshore exploration activities, and the growing emphasis on sustainable energy infrastructure. Our report offers an in-depth analysis of current market trends, future projections, and growth opportunities, highlighting key drivers and challenges. Segment-wise growth calculations and forecasts for consumption value are presented for the period 2024-2032, aiding businesses in targeting specific and lucrative market niches for the expansion of the Suction Caissons Market. 𝗧𝗼 𝗞𝗻𝗼𝘄 𝗚𝗹𝗼𝗯𝗮𝗹 𝗦𝗰𝗼𝗽𝗲 𝗮𝗻𝗱 𝗗𝗲𝗺𝗮𝗻𝗱 𝗼𝗳 𝗦𝘂𝗰𝘁𝗶𝗼𝗻 𝗖𝗮𝗶𝘀𝘀𝗼𝗻𝘀 𝗠𝗮𝗿𝗸𝗲𝘁. 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆: https://lnkd.in/dbur3SVS By Type: Shallow Water Suction Caissons, Deep Water Suction Caissons By Application: Oil & Gas, Offshore Wind, Other Offshore Structures By Region: North America, Europe, Asia-Pacific, South America, Middle East & Africa By Key Players: TechnipFMC, Subsea7, Saipem, Van Oord, DEME Group, Boskalis, Allseas Group, Heerema Marine Contractors, McDermott International, Ltd, Sapura Energy Berhad, Aker Solutions, China Communications Construction Co., Ltd. , Petrofac, Royal IHC, J. RAY MCDERMOTT ENGINEERING SERVICES PRIVATE LIMITED, Keppel Offshore & Marine, Samsung Heavy Industries, Sembcorp Marine Ltd, Lamprell, Jan De Nul Group, Seaway7, BOURBON OFFSHORE, DOF Subsea USA, Inc., Oceaneering International Holdings LLC, Fugro, Bumi Armada, SBM Offshore, Tidewater, Noble Corporation, Saipem #suctioncaissons #offshoreenergy #marketresearch #energyandpower #sustainableenergy #offshorewind #oilgas #markettrends #technologicaladvancements #globalmarket #businessinsights #marketgrowth #energydemand #innovation #offshoreexploration #industryinsights #futuretrends #renewableenergy #energysector #offshoreinfrastructure

Credit to Lisbet K. Esmael   August 24, 2024 Razon-led consortium investing $180M to extend Malampaya life   https://lnkd.in/gDv7RtkJ.   The consortium members of the Malampaya gas field, led by Prime Energy Resources Development BV, are coughing up an additional $180 million to extend the gas field’s production life.   The Service Contract 38 (SC 38) Consortium led by tycoon Enrique Razon tapped Dutch firm Allseas Nederland to link the two new wells to the Malampaya Shallow Water Platform. In March, American offshore drilling company Noble was contracted to drill two deepwater development wells.   The group said they would now finalize the detailed well and pipeline design “to ensure it can withstand all load stress scenarios applicable in the challenging deepwater subsea canyon crossing of the Camago-Malampaya field.”   The wells will be drilled next year, with a new supply of gas expected by 2026, according to the SC 38 consortium. These efforts were part of the consortium’s Malampaya life extension project dubbed “Project Sinagtala,” following the 15-year license extension granted by President Ferdinand Marcos Jr. in May last year.   Malampaya offshore field supplies about 20 percent of Luzon’s electricity needs.

In an industry first Chevron has achieved first oil from its Anchor deepwater project in the U.S. Gulf of Mexico in a breakthrough use of high-pressure technology to tap into reservoirs as deep as 34,000 feet. The floating platform is designed to produce 75,000 barrels of oil and 28 million cubic feet (MMcf) of gas per day, with recoverable reserves estimated at 440 million barrels of oil equivalent. “The Anchor project represents a breakthrough for the energy industry. Application of this industry-first deepwater technology allows us to unlock previously difficult-to-access resources and will enable similar deepwater high-pressure developments for the industry," said Nigel Hearne, executive vice president, Chevron Oil, Products & Gas. #chevron #deepwater #technology #oilandgasindustry #gulfofmexico

🌊 Baker Hughes, SLB’s OneSubsea, and Constellation Oil Services have been hired to undertake #subsea and #drilling operations to bring to life BRAVA Energia's first integrated development campaign at two #offshore #oil fields with an option to develop a third asset as a tie-back to existing infrastructure off the coast of #Brazil. ⚓ 𝐅𝐮𝐥𝐥 𝐬𝐭𝐨𝐫𝐲 ➡️https://buff.ly/3OE1e2D #offshoredrilling #rig #oilgas #energy #oilandgasnews #offshoreenergy #oilandgas #Americas 📸 Lone Star semi-submersible rig; Source: Constellation Oil Services

#Chevron (CVX.N), has achieved a technological breakthrough, producing first oil from a U.S. Gulf of Mexico field under extreme subsea pressures, the energy company said on Monday. Its $5.7-billion project, called #Anchor, ushers in an era of production from deepwater areas that had long been off-limits, because of the lack of equipment able to cope with pressures of up to 20,000 pounds per square inch. Chevron and partner #TotalEnergies (TTEF.PA), expect the Anchor development to produce for 30 years. At its peak, the floating platform will pump up to 75,000 barrels of oil and 28 million cubic feet of natural gas a day. The field is about 140 miles (225 km) off the coast of Louisiana. "This industry-first deepwater technology allows us to unlock previously difficult-to-access resources and will enable similar deepwater high-pressure developments for the industry," said Chevron Executive Vice President Nigel Hearne. Another U.S. oil company, Beacon Offshore Energy, aims to replicate Chevron's 20,000-psi feat at its Shenandoah deepwater field, also off the coast of Louisiana. That project has been delayed, with first oil expected in the second quarter of 2025. BP (BP.L), discovered the Gulf of Mexico’s first 20,000-psi field, called Kaskida, in 2006, but the subsea technologies of the time did not allow development. Until now, subsea technologies have largely been capped at pressures of 15,000 psi. But last month, BP greenlit development of the field, citing new developments. It plans to leverage subsea equipment designs and achieve first Kaskida oil production in 2029. Chevron's development will have seven subsea wells tied to the Anchor floating production platform. The subsea field is estimated to hold up to 440 million barrels of recoverable oil and gas. "This Anchor milestone demonstrates Chevron's ability to safely deliver projects within budget in the Gulf of Mexico," said Bruce Niemeyer, head of Chevron's Americas oil and gas production. #innovation #technology #oil #gas #oilandgasexploration #energy

In this exclusive Pipeline & Gas Journal article, Enbridge unveils plans for two new offshore pipelines in the Gulf of Mexico to support bp's Kaskida project, showcasing the region's ongoing oil and gas infrastructure expansion. https://ow.ly/mrqi50UxAiw