Business Developments & Projects

Germany augments gas arsenal as Uniper pens 20-year LNG deal with Canadian project

German energy player Uniper has signed off on a two-decade-long liquefied natural gas (LNG) deal with a multibillion-dollar LNG project being developed on Canada’s northwest coast to export lower-carbon LNG to energy markets.

Asso.subsea revealed as buyer of Reach Subsea and Eidesvik’s IMR vessel

Greece’s Asso.subsea has reported it was purchasing the inspection, maintenance and repair (IMR) vessel Viking Reach from the joint venture of Reach Subsea and Eidesvik Offshore, following the sale announcement from earlier today. It was reported today, August 4, that Eidesvik Reach, in which Eidesv

SOCAR tightens its grip on Caspian Sea oil & gas project with Itochu stake buyout

The State Oil Company of the Republic of Azerbaijan (SOCAR) has strengthened its hold on a giant oilfield in the Caspian Sea by acquiring Itochu Corporation’s participating interest, increasing its ownership in the oil and gas project off the coast of Azerbaijan as the Japanese trading and investmen

New Bourbon vessel enters into service, first contract in India

Bourbon’s new inspection, maintenance, and repair (IMR) vessel has entered into service and is starting its first long-term contract offshore India. Bourbon Evolution 810 has diesel-electric propulsion, is fitted with two active heave-compensated cranes with lifting capacities of 40 and 150 tons, an

IMR vessel owned by Reach Subsea and Eidesvik finds new owner

Eidesvik Reach, the joint venture of Reach Subsea and Eidesvik Offshore, is selling its 2009-built, 85-meter-long inspection, maintenance and repair (IMR) vessel Viking Reach. The joint venture, in which Eidesvik holds a 50.1% ownership interest and Reach Subsea 49.9%, has entered into a memorandum

EIG’s MidOcean Energy lines up new investment as NYK spreads its LNG wings

MidOcean Energy, a liquefied natural gas (LNG) player formed and managed by the U.S.-headquartered investment company EIG Global Energy Partners (EIG), has secured another investment, which enables Nippon Yusen Kabushiki Kaisha (NYK), Japan’s shipping and logistics major, to widen its LNG footprint.

Saipem’s merger with Subsea7 clears crucial US antitrust hurdle

Italy’s engineering, drilling, and construction services giant Saipem and the Luxembourg-domiciled Subsea7 have made progress in advancing their proposed business combination with a U.S. antitrust milestone; however, the merger’s fate remains uncertain pending the review of potential offshore market

Huisman equipment ordered for SBM Offshore and Solstad’s installation vessel

Huisman has been selected to deliver advanced lifting and handling systems for an offshore installation vessel being built for the joint venture (JV) of Norwegian Solstad Offshore and Netherlands-based SBM Offshore. Awarded by CIMC Raffles Offshore, the contract will see Huisman deliver an integrate

Odfjell Drilling’s 2009-built rig goes back to work after BOP incident-related hiatus

WATCH: Hybrid ocean energy construction vessel reaches Norway for completion

The first of two hybrid power ocean energy construction vessels (OECVs) that Norwegian shipbuilder VARD is building for compatriot shipping group Island Offshore has arrived in Norway from Romania for the final phase of outfitting. Island Offshore placed an order with VARD for the design and constru

Floating wind turbine that will power UK gas platform ready for tow to offshore site

The Culzean floating wind turbine, which will supply electricity to the Culzean gas platform in the North Sea, off the coast of Scotland, will soon be towed to its offshore location as the integration of the wind turbine with the floating foundation has been completed. Archer, the engineering, procu

BP’s North Sea business up for sale

UK-headquartered energy giant BP is launching a process to market its North Sea business for a potential sale after operating in the region for 60 years. BP reported today, July 31, that the decision is part of an ongoing portfolio review and reflects the disciplined approach to capital allocation,