Business Developments & Projects
Interview: With new oil & gas horizons calling, will the North Sea hold sway over its existing rig fleet?
This interview sheds more light on whether there will be a greater rig exodus from the North Sea market and a mass pivot toward other destinations.
With environmental decision in place, GAZ-SYSTEM set to proceed with Gdańsk FSRU project
Poland’s natural gas transmission system operator GAZ-SYSTEM has received a decision on the environmental conditions from the Regional Director for Environmental Protection in Gdańsk for the implementation of the FSRU terminal with a subsea gas pipeline at the Port of Gdańsk. According to GAZ-SYSTEM
Valaris rigs collect $1.2 billion for drilling jobs spanning geographies
Valaris has landed a batch of new contracts and extensions across multiple geographies for three floaters and six jack-ups in its rig fleet.
Multiple P&A activities on the list for UK firm under £1 million contract
UK-headquartered oil and gas engineering services business Plexus Holdings has secured a contract valued at over £1 million to deliver equipment and services for multiple plug and abandonment (P&A) activities in the North Sea. Under the contract with an undisclosed client, Plexus will provide Exact
Fugro settles in South Korea
Fugro has opened a new office in South Korea as part of a joint venture with South Korean marine technology company UST21 in support of the local offshore wind sector. The new office called Fugro UST21 and located in Incheon will provide geo-data solutions for South Korea’s offshore renewable energy
Port of Rotterdam renews clean fuels deal with VARO Energy
The Port of Rotterdam has entered into a new agreement with oil refiner and supplier VARO Energy Group to optimize fuel and energy practices. VARO has emerged as the winner of the port’s tender process for the cleanest usable energy carrier. The port has been using VARO’s HVO100 (100% Hydrotreated V
Liner majors rally behind WSC’s GHG pricing mechanism
The World Shipping Council (WSC) is proposing a solution to the challenge of crafting a global greenhouse gas pricing regulation that encourages investment in green fuels, as the UN International Maritime Organisation works towards its target of achieving net-zero carbon emissions in the shipping in
Wavepiston opens capital raise to back wave energy system
Denmark’s Wavepiston has opened its next capital raise with the aim of supporting the critical objectives of operating its full-scale wave energy system, among other things. Wavepiston reported that it had on February 8 installed its first full-scale energy collector on the Wavepiston string at the
NOV receives order for ‘industry’s first electric subsea crane’
U.S.-based NOV has received an order for what is said to be the industry’s first electric subsea crane. NOV reported that its Lifting & Handling group had sold the first electric subsea crane to a company in Europe at the end of 2023. “We are excited about the market’s response to our electric subse
Solstad amps up its decarbonization ante to boost vessels’ fuel efficiency and curb emissions
Solstad Offshore has joined forces with Pon Power and Caterpillar Marine to scale up fuel efficiency across its vessels and slash its emissions.
Seatrium claims world’s 1st full-scale CCS retrofit
Singaporean shipbuilding group Seatrium has secured a turnkey carbon capture and storage (CCS) retrofit contract from Norwegian shipowner Solvang ASA. This pioneering initiative involves the retrofitting of a 7MW Wärtsilä CCS system onto Solvang’s ethylene carrier, the Clipper Eris. The system is ex
Shipbuilding order placed for world’s first ammonia-powered containership
Yara Clean Ammonia, North Sea Container Line, and Yara International have partnered with CMB.TECH to place a shipbuilding order for the world’s first ammonia-powered containership, Yara Eyde. CMB.TECH revealed the order on February 14, stating that the 1,400 TEU ice-class containership will be built
With offshore repairs soon to begin, Balticconnector restart set for April
Offshore repair works for the Balticconnector gas pipeline between Finland and Estonia, which was shut down in October 2023 due to a rupture, are set to start at the beginning of next month. Estonian transmission system operator (TSO) Elering and its Finnish counterpart Gasgrid closed Balticconnecto
Diana Shipping seals deal on methanol-powered Kamsarmaxes
Greek shipowner Diana Shipping is doubling down on its commitment to methanol as part of its fleet renewal investments. The company revealed on Wednesday that it has signed shipbuilding contracts for two 81,200 dwt methanol dual fuel Kamsarmax dry bulk vessels, worth $46 million each. This strategic