Business Developments & Projects
New methanol-ready subsea construction vessel to sport Corvus’ energy storage system
Corvus Energy has been picked to provide energy storage systems (ESS) for a new energy subsea construction vessel (ESCV), which will be built for REM Offshore.
Subsea7 and OneSubsea hired to work on Wisting and Bay du Nord oil projects
Subsea Integration Alliance, comprising OneSubsea and Subsea7, has won a long-term strategic agreement with Equinor.
Argeo granted patent for ‘innovative’ sensor configuration for subsea vehicles
Argeo has secured its fifth patent from the Norwegian Industrial Patent office, this time for an innovative sensor configuration for subsea vehicles said to provide higher reliability, better signal, and improved detection. Argeo reported that its wholly-owned subsidiary Argeo Robotics had been gran
Damen embarks on a pilot project for circular ship recycling
Dutch Damen Shipyards Group is launching a pilot project in which a small tug will be dismantled at Damen Shiprepair Rotterdam’s Botlek site in a circular way and entirely in line with EU regulations.
Shell collects $7.7 billion in profit against backdrop of lower energy prices
Shell has made strides in the pursuit of its strategy, which aims to bring more energy to the fore with a reduced emissions footprint.
New task for Odfjell Drilling related to rig non-conformities stemming from emergency preparedness management
Odfjell Drilling has been asked to handle the identified non-conformities and improvement points regarding emergency preparedness management at a semi-submersible rig, which is working on the Norwegian Continental Shelf (NCS).
Kraken gathers $11 million in new contracts since beginning of 2024
Kraken Robotics has reported a “strong start” to 2024 for its Service business with $11 million of new contracts secured since the beginning of the year. The contracts, all set to be completed within this year, come in addition to $4 million of survey contracts for KATFISH and magnetometer surveys t
Norway’s oil & gas production beats forecasts
Norway recorded a slight rise in oil and gas production in March 2023 compared to the Norwegian Offshore Directorate’s predictions.
Ørsted selects Balmoral to shield Hornsea 3 cables
Balmoral Comtec, a Balmoral Group company, has been awarded a multi-billion-pound contract for the supply of cable protection systems for Ørsted’s Hornsea 3 offshore wind farm in the UK. The scope of work includes design engineering which will take place at Balmoral Comtec’s Aberdeen facility, suppl
Greece and Saudi Arabia to launch studies for potential electricity interconnector
Greek electricity grid operator Independent Power Transmission Operator (IPTO or Admie) and Saudi Arabia’s National Grid Saudi Electricity Company have decided to kick off technical and economic studies for an electricity interconnector between the two countries. The launch of the technical and econ
Equinor gets more info on oil discovery to gauge development option
Equinor has wrapped up drilling activities at an appraisal well in the Barents Sea off the coast of Norway with one of Odfjell Drilling’s rigs.
New rig deals lift Valaris’ contract backlog to $4 billion
Valaris has expanded its contract backlog, thanks to a series of new contract awards and extensions with multiple oil and gas companies.
Danish wave energy firm launches crowdfunding campaign, aims to raise up to €1.5M
Danish company Wavepiston has launched a crowdfunding campaign with the ambition of raising up to €1.5 million that will be used for its wave energy technology. The €1.5 million expected to be raised in 2024 will be instrumental in further demonstrating and commercializing the wave energy technology
Japanese firm nets batteries order for large-scale hydrogen project
NGK INSULATORS has received a NAS batteries order from BSES, a subsidiary of German BASF, for a large-scale green hydrogen production project, developed by German HH2E.