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Business Developments & Projects

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Valaris 123, former Ensco 123, jack-up rig; Source: Valaris
Business Developments & Projects

Valaris’ batch of rig deals lifts total contract backlog to $4.9 billion

Bermuda-incorporated offshore drilling contractor Valaris has secured new rig assignments and contract extensions in Brazil, Brunei, Indonesia, and the UK and Dutch sectors of the North Sea.

about 5 months ago
Saipem’s Castoro 10 starts pipelaying on Romania’s €4 billion natural gas project
Business Developments & Projects

Saipem’s Castoro 10 starts pipelaying on Romania’s €4 billion natural gas project

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Saipem’s 165-meter-long pipelay vessel Castoro 10 has begun the construction of an offshore pipeline in the Romanian part of the Black Sea that will transport natural gas from an offshore production platform to shore as part of the Neptun Deep project. With estimated investments of up to €4 billion,

about 5 months ago
Illustration; Credit: Morten Berentsen/NOD
Business Developments & Projects

70 more offshore exploration blocks widen Norway’s new oil & gas licensing round

Norway’s Ministry of Petroleum and Energy has shed light on the expanded award in pre-defined areas 2026 (APA 2026) round for oil and gas exploration activity, encompassing the predefined areas on the Norwegian Continental Shelf (NCS) with blocks in the North Sea, Norwegian Sea, and Barents Sea.

about 5 months ago
Kvitebjørn - Equinor - Wellesley
Business Developments & Projects

Aker Solutions on FEED duty for North Sea gas condensate discovery

Norway-based energy services provider Aker Solutions has lined up a new front-end engineering and design (FEED) assignment for a gas condensate subsea tie-in development project in the Norwegian sector of the North Sea with the country’s state-owned energy giant Equinor.

about 5 months ago
Gina Krog; Source: Orlen
Business Developments & Projects

North Sea field’s start-up augments Europe’s gas arsenal 48-years after discovery

Norwegian state-owned energy giant Equinor has brought online a subsea tie-back development in the North Sea off the coast of Norway, unleashing more gas supplies for the European market.

about 5 months ago
Solstad CSV picked by Reach Subsea for Mediterranean and Black Sea
Business Developments & Projects

Solstad CSV picked by Reach Subsea for Mediterranean and Black Sea

Norway’s Reach Subsea is set to charter a Solstad construction support vessel (CSV) for deployment in the Mediterranean and Black Sea region as part of its commitment under a newly secured letter of intent (LOI). Reach Subsea’s new LOI is for a contract covering inspection, maintenance, and repair (

about 5 months ago
Dorian LPG takes over newbuild dual-fuel LPG and ammonia gas carrier
Business Developments & Projects

Norwegian CO2 transport and storage project gathers three industry majors

Aker Solutions, Knutsen NYK Carbon Carriers (KNCC), a joint venture of Knutsen Group and NYKLine, and Vår Energi CCS AS, the project’s operator, have signed a memorandum of understanding (MoU) to advance the Trudvang CO2 transportation and storage project in the Norwegian North Sea. The partnership

about 5 months ago
An offshore platform being approached by a small vessel
Business Developments & Projects

Prosafe set on securing ‘follow-on’ vessel work

Oslo Stock Exchange-listed semi-submersible accommodation vessel owner and operator Prosafe has provided insight into its fleet utilization for the first quarter of 2026 and its future expectations.

about 5 months ago
18 companies secure a share of €1.56 billion as Equinor extends key agreements
Business Developments & Projects

18 companies secure a share of €1.56 billion as Equinor extends key agreements

Norwegian state-owned energy giant Equinor is extending key supplier agreements for drilling and well services on the Norwegian Continental Shelf (NCS) with a combined value of around NOK 17 billion (approximately €1.56 billion), set to employ around 2,500 people. Equinor reported today, May 4, that

about 5 months ago
Marine license variation ‘opens door to further innovation’ at Morlais tidal energy scheme
Business Developments & Projects

Marine license variation ‘opens door to further innovation’ at Morlais tidal energy scheme

Menter Môn Morlais has secured regulatory approval to deploy different types of tidal technology within the Morlais tidal energy scheme off the coast of Anglesey in Wales. Natural Resources Wales has approved the company’s application to vary its existing marine license, allowing different types of

about 5 months ago
Illustration: Source: Wood Mackenzie
Business Developments & Projects

Gulf LNG export woes push gas prices up but diversification becomes Europe’s energy lifeline

Given the supply shock that hit the global liquefied natural gas (LNG) markets as a result of the Middle East conflict, Wood Mackenzie, an energy intelligence group, has pointed out that this disruption, which led to a gas price surge, failed to rattle Europe thanks to its investment in diversified

about 5 months ago
Illustration; Source: Next Geosolutions
Business Developments & Projects

NextGeo ups its stake in Rana Subsea to 82.5%

Italy-headquartered Next Geosolutions (NextGeo) has exercised the call option to acquire a further circa 7.1% of Rana Subsea, a compatriot subsea services company established in 1964, bringing its share capital to 82.5%. NextGeo signed a sale and purchase agreement for the acquisition of 75.4% of th

about 5 months ago
Illustration; Source: Wood Mackenzie
Business Developments & Projects

Oil & gas firms step up exploration game to tackle supply shortfall by 2050

As global exploration and production (E&P) players are facing a 40% output drop, Wood Mackenzie, an energy intelligence group, has pointed out that oil and gas companies are increasing high-impact exploration investment to address the 300-billion-barrel supply gap and energy security priorities by 2

about 5 months ago
Deepsea Nordkapp rig; Source: Odfjell Drilling
Business Developments & Projects

Probe into offshore rig incident uncovers serious breaches

Scotland-headquartered offshore drilling contractor Odfjell Drilling has been served with an order from Norway’s offshore safety regulator, which investigated an incident that resulted in an injury at a semi-submersible rig deployed on the Norwegian Continental Shelf (NCS).

about 5 months ago