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Asian Infrastructure Investment Bank (AIIB) Philippines

Bataan-Cavite Interlink Bridge Project and Tranche 1

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Feature & Services

Procurement News

UK Mooring Specialist Enters Japanese Floating Wind Market

Moorings specialist First Marine Solutions has signed a collaboration agreement with Horizon Ocean Management (HOM), a joint venture between Mitsui and Hokutaku, for the development of mooring strategy-related services for the floating offshore wind sector in Japan. The agreement between the companies also entails providing consultancy services for the installation and O&M phase, mooring installation support, and O&M services, including monitoring, inspection, and repair. FMS’ experience in the offshore wind field has included key roles in several renewable energy projects for major developers, as well as participation in landmark projects for ORE Catapult, the UKs leading innovation and research centre for offshore renewable energy. On the other hand, HOM has established itself within the supply chain of offshore wind industry in Japan. “We believe that floating wind will become a popular choice in Japan in the near future, with full-scale development of floating offshore wind power generation expected. In the meantime, in addition to the development of supply chains, it will be essential to acquire engineering capabilities for offshore and subsea applications. “The alliance with First Marine Solutions, which already provides mooring services for floating structures across the offshore energy sector, including floating offshore wind, is indispensable in providing the capabilities demanded by the Japanese offshore wind industry,” said Nobuyuki Takagi. Takagi, President of HOM. “The logical next step for us was to expand into new territories and we quickly identified Japan as a key market. HOM is the perfect partner for us, given the compelling combination of Mitsui and Hokutaku,” added Steven Brown, Managing Director of First Marine Solutions. Japan

UK Launches $60M Offshore Wind Supply Chain Accelerator

The Crown Estate has launched Supply Chain Accelerator to catalyze early-stage investment in U.K. offshore wind supply chain. The accelerator is a new $63.6 million (£50 million) fund created to accelerate and de-risk the early-stage development of projects linked to offshore wind, helping to grow and nurture the UK’s domestic supply chain. An initial $12.7 million (£10 million) round of funding is now open for Expressions of Interest for businesses looking to establish UK projects that could support the development of a new UK supply chain capability for floating offshore wind in the Celtic Sea. Earlier in 2024, the Crown Estate published research, The Celtic Sea Blueprint, which predicted that 5,300 jobs and a $1.78 billion (£1.4 billion) economic boost could be generated through deploying the first floating offshore wind capacity, that will result from the current Leasing Round 5 process, in the waters off South Wales and South-West England. This research highlighted a number of opportunities for supply chain development essential for the development of these floating wind farms including floating platform components; dynamic cables and connections; wet storage infrastructure and facilities; operations and management infrastructure and facilities; and skills transition facilities. The accelerator’s first funding round will be geared towards projects specifically looking to address some of these opportunities, helping to kick-start projects by providing matched funding of up to $1.27 million (£1 million) for early-stage development expenditure. The Crown Estate will look for the option to participate in the capital investment phase. The application process opens formally in mid-June and closes at the end of July. Successful projects will be chosen following an application assessment process and announced from October 2024. The Crown Estate will be supported by leading professional services firm Grant Thornton. “I’d encourage businesses with strong development plans and an ambition to support one of the UK’s most future-thinking sectors to consider submitting proposals to the Accelerator for funding, and play an important part in the UK’s exciting energy transition,” said Will Apps, Offshore Wind Strategy Director at the Crown Estate. United Kingdom

Carimin Buys Crew Boat Newbuild from Penguin Shipyards for $5M

Malaysia-based offshore services provider Carimin Resources Services, a subsidiary of Carimin Petroleum, has signed an agreement with Penguin Shipyard Asia for the acquisition of unregistered crew boat newbuild, worth $4.96 million. The newbuild multi-role executive crew boat is of Penguins proprietary Flex-42X design. Penguin’s Flex-42MX and Flex-42X can transport up to 60 tons of deck cargo on a 110-square meter cargo deck, and hold 80,000 liters of fuel and 20,000 liters of fresh water. The overall of the vessel, named Hull 460, is 42 meters, with depth of 3.98 meters and breadth of 8 meters. The delivery date for the vessel has been set for June 30, 2024. According to Carimin Petroleum, the proposed acquisition is in line with the expansion plan for its business in providing marine support services for its offshore maintenance and hook-up and commissioning activities as it will complement the company’s vessel fleet operations. Carimin Petroleum added the acquisition is expected to contribute positively to its earnings for the financial year ending June 30, 2025. Malawi

Guyana Could Reallocate Gas Areas if Exxon Does Not Move Project Forward

An Exxon Mobil-led oil consortium will need to decide by October whether it will go ahead and develop a large natural gas find off the coast of Guyana, the countrys vice president said on Thursday. The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The consortium, which includes Hess Corp and CNOOC Ltd, is required under its production agreement to return to the government by October about 20% of its massive Stabroek block if that area remains undeveloped. Exxon has said it hopes to complete an appraisal of the gas findings by early next year and is considering how to best commercialize the natural gas. The October deadline for relinquishing untapped areas calls for it to make a decision sooner. That 20% of the undeveloped Stabroek area might include the groups Haimara discovery, where it mostly found natural gas, Guyana Vice President Bharrat Jagdeo said on Thursday during a media briefing in Georgetown. "We have had some discussions with Exxon and told them that if they are not going to work on it, they have to relinquish. They did some studies and said they might be able to move forward with the project," Jagdeo said. An Exxon spokesperson said it is in discussions with Guyana over what areas will be relinquished. The consortium’s exploration agreement runs through 2027, the spokesperson added. Haimara, the groups 12th finding of oil and gas in the country, was announced in 2019. Exxon has said the Haimara-1 well found approximately 207 feet (63 meters) of a high-quality, gas-condensate bearing sandstone reservoir. There could be up to 16 trillion cubic feet of associated gas in Exxons areas, Jagdeo said, citing Exxon accounts. Guyana is moving ahead to select a company that could develop the gas project, which it estimates will require between $10 billion and $15 billion in investment. "We tested the market. We went out for expressions of interest and had some really good, strong firms with good credentials saying, We believe there is a viable project and we want to work on it," he added, without identifying the firms. The cabinet must approve the company selected and once approved, that firm would be cleared to initiate talks with Exxon over a project to monetize the gas reserves. Guyana

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