Business Developments & Projects
Equinor all set to kick off drilling ops with Transocean rig
Equinor has received consent to embark on offshore drilling activities with one of Transocean’s rigs in the Barents Sea.
Significant offshore wind growth brings Fugro strong start of the year
In what is described as a “strong start of the year”, Dutch geo-data specialist company Fugro reported a 9% revenue growth for Q1 2024 compared to the same period last year, said to be due to ongoing significant growth in offshore wind projects. Revenue in the first quarter was €503.2 million, a 9%
Oil & gas production on the rise but Equinor’s profit plummets as energy prices go down
Equinor’s net profit in 1Q 2024 has dropped by 46% compared to the figure recorded in 1Q 2023 amid a downturn in oil and gas prices.
Greek firm completes cable installation for French floating wind pilot project
Greece-based Asso.subsea has completed the cable installation, burial, and protection operations for the Provence Grand Large floating offshore wind project in France. The Provence Grand Large floating offshore wind project is located 17 kilometers off the coast in the Mediterranean Sea, on a 100-me
Fugro secures more work on 3 GW Dogger Bank South
RWE and Abu Dhabi-based Masdar have appointed Dutch geo-data specialist company, Fugro, to carry out geotechnical seabed surveys at the Dogger Bank South (DBS) offshore wind project sites in the UK. Located over 100 kilometers off the northeastern coast of England, the DBS offshore wind farm will be
CMA CGM and Bpifrance launch €200M fund to decarbonize French maritime sector
France-based shipping major CMA CGM and public sector investment bank Bpifrance have launched a €200 million fund dedicated to accelerating the energy transition in the French maritime industry.
EU takes another step toward the exit out of ‘fossil dinosaur treaty’ to safeguard green aspirations
The EU is one step closer to pulling out of the Energy Charter Treaty (ECT), as there is no end in sight for the stalemate over revamping its terms.
Norwegian player finds work on third Odfjell Drilling rig
Soiltech has secured another contract with Odfjell Drilling for the provision of its services to the UK player’s third semi-submersible rig.
Subsea7’s backlog remains ‘robust’ with high tendering in subsea and offshore wind
Subsea7 has reported a “robust” backlog of $10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors. To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured $7.4 billion of c
UK and Germany strengthen hydrogen ties
UK’s PM Rishi Sunak and German Chancellor Olaf Scholz have agreed on a feasibility study for hydrogen exports from the UK to Germany.
Everfuel’s HySynergy start-up postponed for second half of 2024
Everfuel has announced a delay in the commissioning of HySynergy 1, its 20 MW green hydrogen production plant in Fredericia, Denmark.
Sharp fall in gas prices brings Eni slump in profit
With natural gas prices being nearly cut in half, Italy’s energy giant Eni has seen a 46% drop in net profit in the first quarter of 2024 compared to the sum collected in the same period last year.
AtoB@C Shipping welcomes first plug-in hybrid newbuild in Sweden, unveils names of remaining units
AtoB@C Shipping, a Swedish subsidiary of Finland-based shipping company ESL Shipping, said that its first plug-in hybrid newbuilding Electramar reached the Baltic Sea, marking the end of a long voyage from India around the Cape of Good Hope to Europe.
‘Good start’ to 2024 for Nexans with record subsea-driven backlog
Paris-headquartered cable systems designer and manufacturer Nexans has reported a record adjusted backlog of €6.7 billion for its Generation & Transmission segment, a 10.2% increase compared to December 2023, said to be mainly subsea-driven. In its financial results for the first quarter of 2024, Ne