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Business Developments & Projects

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Business Developments & Projects

DNV completes independent review of Minesto’s Dragon-class technology

Norway-based classification society DNV has completed an independent technical review of Minesto’s Dragon-class technology, reinforcing the investment case for its planned 10 MW array in the Faroe Islands. The assessment, initiated in the autumn of 2024, evaluated the energy conversion performance,

about 1 year ago

Business Developments & Projects

ROV solutions for vessel duo mark ‘largest’ deal in Norwegian firm’s history

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A big new order for comprehensive remotely operated underwater vehicles (ROV) solutions has landed on the Norway-based Kystdesign’s table.

about 1 year ago

Business Developments & Projects

New taskforce enters subsea scene to enhance cable performance for offshore wind

Global Underwater Hub (GUH) has launched a new initiative to tackle subsea cable reliability, a critical factor in offshore wind development, as the UK pushes to meet its clean energy targets. The industry body, representing the UK’s £9.2 billion (around $11,3 billion) underwater sector, has publish

about 1 year ago

SSV Catarina rig; Source: Ventura Offshore

Business Developments & Projects

Brazil’s offshore drilling firm reaches rig acquisition settlement

Ventura Offshore has struck a deal with Umas 1 as the seller of a semi-submersible rig the firm decided to acquire last year. This enables the Brazilian player to make a lump sum payment as a final settlement.

about 1 year ago

Business Developments & Projects

Four giant oil & gas projects line up for start-up in 2025 offshore Norway with more on the cards

Vår Energi has confirmed that four major projects are expected to be put into operation this year, enabling the firm’s production to exceed 400,000 barrels of oil equivalent per day (kboepd).

about 1 year ago

Aerial view of Dunnottar Castle, Stonehaven. Dunnottar is a ruined medieval fortress located upon a rocky headland on the North East coast of Scotland. Credit: Scottish Enterprise

Business Developments & Projects

Scotland eyes almost $10B marine energy boost by 2050

Scotland’s tidal stream and wave energy sector could generate over £8 billion (almost $10 billion) in economic benefits and create more than 15,000 jobs by 2050 if the country retains its leadership position in the field, University of Edinburgh’s (UoE) new report reveals. Published by the UoE and c

about 1 year ago

Business Developments & Projects

SwitcH2 nearing final design of floating ammonia project with new investor onboard

Renewable energy company SwitcH2 has welcomed a new shareholder on track to finalize the design of its 300 MW offshore floating ammonia project.

about 1 year ago

Medway Hub CCS project; Source: Synergia Energy

Business Developments & Projects

UK firm on the lookout for new partner in North Sea CCS project

As Harbour Energy plans to head for the exit, the AIM-listed Synergia Energy is going on the hunt for another partner that will join its carbon capture and storage (CCS) project in the UK sector of the North Sea.

about 1 year ago

Business Developments & Projects

Transocean rig gearing up to spud Barents Sea wildcat in April

Equinor has secured a drilling permit with Norway’s authorities to drill an exploration well in the Barents Sea with one of Transocean’s semi-submersible rigs.

about 1 year ago

Business Developments & Projects

Call for Interest for H2Med hydrogen corridor delivers positive results, TSOs say

A Call for Interest in the H2Med project – the first European major hydrogen corridor – has delivered “strong outcomes” and confirmed H2Med’s role in achieving Europe’s decarbonization and deindustrialization objectives, the project promoters revealed.

about 1 year ago

Business Developments & Projects

MPC Capital presses forward with energy transition ambitions via new acquisition

Hamburg-based asset and investment manager MPC Capital has acquired a 50% stake in the compatriot performance management firm BestShip from Norway’s maritime group Wilhelmsen, a move expected to help the company ‘reinforce’ its position in energy transition-related activities. As disclosed, BestShip

about 1 year ago

HelioRec has launched the STEWART project, aimed at advancing environmentally friendly floating solar solutions, backed by the European Union

Business Developments & Projects

HelioRec and partners launch EU-backed project to advance floating solar tech

French offshore solar start-up HelioRec has launched the STEWART project, aimed at advancing environmentally friendly floating solar solutions, backed by the European Union and Région Pays de la Loire through the Clean Energy Transition Partnership (CETPartnership). According to HelioRec, the STEWAR

about 1 year ago

Business Developments & Projects

Klaipėda Port kicks off quay electrification project

The Port of Klaipėda in Lithuania has begun installing the required infrastructure to supply electricity to moored vessels, a move expected to ‘significantly’ cut down on harmful emissions and noise pollution in the area. As disclosed, this endeavor involves the construction of three stations that w

about 1 year ago

An offshore platform viewed from a rugged coastline

Business Developments & Projects

Hartshead seeks partners’ approval for revised offtake route in North Sea gas project

ASX-listed Hartshead Resources has submitted a program and budget for the development of a new gas export route from a production license situated on the United Kingdom Continental Shelf (UKCS) for approval to its partners in the P2607 joint venture (JV).

about 1 year ago