Business Developments & Projects
Solstad’s subsea vessel picking up ROVs prior to new gig
Solstad Offshore’s subsea construction vessel (CSV) Normand Navigator is preparing for a new project with the mobilization of remotely operated vehicles (ROVs). The 2015-built Normand Navigator arrived at Husøy, Karmøy in Norway, this week for the mobilization of ROVs from Omega Subsea Robotics, a j
Drilling to return to seven-year-old UK field as it hits oil production milestone
EnQuest has reached a milestone of 70 million barrels of oil produced during May from its field in the Northern North Sea which has been online since 2017. The UK oil and gas company noted it had delivered strong operational performance across its operated portfolio so far this year, with full-year
European Commission approves up to €1.4 billion for fourth hydrogen IPCEI
The European Commission has approved a fourth IPCEI to support research, innovation and the first industrial deployment in the hydrogen value chain.
Sumitomo SHI FW comes onboard Portuguese renewable methanol project
Finland-based Sumitomo SHI FW (SFW) has signed an agreement with Portugal’s Capwatt to provide Front-End Engineering Design (FEED) services for a syngas production plant, integral to the Mangualde Renewable Methanol project in Portugal.
Prysmian completes export cable installation at 30 MW French floating wind farm
Italy-headquartered Prysmian has completed the installation of the export cable for the 30 MW Gruissan/EolMed floating offshore wind project in France. In 2021, Prysmian signed a contract with the French transmission system operator (TSO) Réseau de Transport d’Électricité (RTE) for the engineering,
Jack-up rig in Middle East to sport UK player’s red zone monitoring solution
The UK’s Salunda has secured a multi-year contract to install its red zone monitoring solution on a jack-up rig in the Middle East.
Green finance: Swedbank adopts climate target for shipping portfolio
Nordic-Baltic banking group Swedbank has set a climate target for its shipping portfolio by integrating climate considerations into its loan decisions for ship finance.
Norwegian oil & gas players come up dry in North Sea and Barents Sea
Norwegian oil and gas players Aker BP and Vår Energi have respectively drilled two wells in the North Sea and Barents Sea that turned out to be dry. Aker BP drilled the dry well 24/6-5 Alvheim Deep in the North Sea in production license 203, awarded in 1996, representing the eleventh exploration wel
Oceaneering, TotalEnergies make headway in sustainable commercial pipeline inspection
U.S. technology company Oceaneering has carried out a pipeline inspection industrial pilot using an autonomous underwater vehicle (AUV) for TotalEnergies, as part of the French energy giant’s ambition to become a net-zero company. The North Sea pilot using the Freedom AUV saw the inspection of over
SolarDuck strengthens Asia Pacific foothold with expansion of Tokyo office
Dutch-Norwegian company SolarDuck has expanded its regional office in Tokyo, Japan, to better devote to the Japanese market and accelerate the commercialization of its floating solar technology.
Caterpillar Marine aims to deploy methanol dual-fuel marine engines in 2026
Caterpillar Marine signed an MoU with Damen Shipyards Group to advance the development of its methanol dual-fuel Cat 3500E marine engines.
Wavepiston tops capital raise target, extends crowdfunding for further investments
Danish company Wavepiston has reached and even surpassed the €600,003 target as a part of the capital raise for its wave energy technology.
TECO 2030’s fuel cell system achieves full power output by using hydrogen
TECO 2030 has reached stable and maximum power output of zero-emission hydrogen-electric power with its fuel cell system.
Bankrolling fossil fuels: 60 giant banks pick up the $7 trillion tab for coal, oil & gas
Report: Over 60 international banks have been keeping the fossil fuel players in business by footing the bill for their further expansion rather than cutting off the purse strings.