Offshore Network - 12th January 2023

Hello and welcome to the first Offshore Network newsletter of 2023! With the oil and gas industry working through one of the most volatile periods in living memory (owing to the Covid-19 hangover, the increasing pressure to engage in the energy transition and geopolitical instability) it is essential to keep your finger on the pulse to stay ahead of the curve and keep your business thriving. Fortunately, Offshore Network with its bi-weekly newsletters, unique reports and frequent networking events spanning the globe, is here to help. The top story of our first regular news debrief of 2023 is a reflection on the global decommissioning outlook as industry reports highlight a strong position and potential for significant growth in the coming years. Mirroring this positive start, Transocean has hit the ground running in 2023 by announcing contract awards and extensions totalling US$488mn, including an eight well P&A campaign in the North Sea. With thoughts ever-turning to such end-of-life work, much attention is being given to carbon capture and storage, most keenly demonstrated in Norway where the country is welcoming its first commercial CO2 storage project. Another hot topic gaining momentum within the industry is geothermal, and in the US Chevron Corporation has announced a joint venture with Baseload Capital to develop geothermal projects across the country. Finally, in the offshore world there is always room for new technology and in the spotlight this week is BeyonC which has been selected to join the CTV Catalyst Programme. In doing so, it will further develop its proprietary technology designed to improve the safety of subsea inspections all the while reducing carbon emissions, improving asset reliability and reducing costs.

Offshore Network Team

t: +44 (0) 20 7834 7676 | e: [email protected]