In Brief

Energy, Oil & Gas news In Brief


€22.5m acquisition
Greencoat Renewables PLC has acquired Lisdowney, a 9.2MW wind farm situated in County Kilkenny, for a total consideration of €22.5 million. Lisdowney wind farm consists of four Enercon E82 turbines. The wind farm was commissioned in November 2016 and its revenues are contracted under the REFIT 2 scheme until 2031, guaranteeing a minimum floorprice for the electricity generated. Following the acquisition Enercon will continue to manage the wind farm’s O&M contract.

German installation
Jan De Nul Group will install 32 Wind Turbine Generators (WTG), each with a capacity of 6.33 MW, for the Offshore Wind Farm Trianel Borkum II in Germany. The new project has been awarded by Senvion GmbH and will feature wind turbines of the type Senvion 6.3M152. The project also includes the offshore mechanical completion works by Jan De Nul. The installation works are planned to start spring 2019. Jan De Nul Group is also in charge of three other German renewables projects at the moment.

$58.5bn spend
An average capital expenditure (capex) of $19.5bn per year is forecast to be spent on 568 oil and gas fields in North Sea between 2018 and 2020, according to GlobalData. Capital expenditure in the North Sea’s traditional oil projects will add up to $35.5bn over the three-year period, while heavy oil fields will require $5.1bn over the same period. Investments into gas projects in North Sea would total $17.9bn in upstream capital expenditure by 2020.

Shallow water projects will be responsible for over 92 percent of $58.5bn of upstream capital expenditure in North Sea, or $53.6bn by 2020. The deepwater projects will necessitate $4.9bn in capital expenditure over the period.