Business Developments & Projects
Valaris drillships and jack-ups scoop up over $1 billion for new rig deals
Valaris has tucked $1.14 billion under its belt, thanks to multiple new contracts and extensions for its drillships and jack-up rigs in Brazil, the U.S. Gulf of Mexico, the UK North Sea, Trinidad, and Australia.
Noble jack-up rig finds more work in North Sea
Noble Corporation has secured a new assignment for one of its harsh environment jack-up rigs with Wintershall Noordzee.
NYK orders MAN ES engines for four LNG carriers
Japanese shipping company Nippon Yusen Kaisha (NYK) has ordered eight MAN B&W ME-GA engines from German manufacturer MAN Energy Solutions (MAN ES) for four 174,000 cubic meter LNG carriers. According to MAN ES, the order entails 4x2x5G70ME-GA Mk. 10.5 engines which will feature its proprietary exhau
Hydrogen Energy Association rolls out map of UK hydrogen projects
United Kingdom’s (UK’s) Hydrogen Energy Association (HEA) has launched a free-to-access Hydrogen Projects Map, bringing together hydrogen projects across the value chain in the UK. According to HEA, the map contains more than 70 low-carbon hydrogen production projects that are in operation or advanc
Minesto’s utility-scale tidal energy kite ready to start delivering
Minesto has completed the Dragon 12 offshore infrastructure in Vestmannasund, Faroe Islands, marking readiness for power production with the achieved connection of the export cable to the foundation. According to Minesto, completion of infrastructure subsea included re-locating the pre-installed jun
Floating substation installed at French pilot wind farm site
Bourbon Subsea Services installed a floating electrical hub (FEH) at the EolMed pilot floating wind farm site in France in Autumn 2023, the company revealed on January 9. The FEH will be connected to the project’s three floating wind turbines on one side and to the export cable on the other to enabl
Green ammonia could decarbonize 60% of global shipping by 2050, study reveals
Green ammonia could be used to fulfil the fuel demands of over 60% of global shipping by targeting just the top ten regional fuel ports, a new study shows.
Gasum to buy renewable e-methane from Nordic Ren-Gas for customers in road and maritime transport
Finnish state-owned energy company Gasum has signed an e-methane offtake agreement with Nordic Ren-Gas. The purchased e-methane will be delivered to customers in the road and maritime transport sectors. Under the long-term agreement, Gasum will buy all of the e-methane to be produced by Nordic Ren-G
Energos Infrastructure acquires Dynagas FSRU duo on charter in Germany
Marine LNG infrastructure company Energos Infrastructure, majority-controlled by Apollo-managed funds and minority shareholder New Fortress Energy (NFE), has completed the acquisition of two floating storage and regasification units (FSRUs) from affiliates of Dynagas, an LNG maritime transportation
French-Dutch cooperation targets CCUS
France-headquartered CGG and Dutch C-Questra have signed a commercial cooperation agreement in carbon capture, utilization, and sequestration (CCUS). “The purpose of the cooperation agreement is quite simply to go much faster. CGG contributes human and technological resources, while C-Questra implem
Maersk Tankers acquires Penfield Marine to create large-scale tanker company
Danish tanker company Maersk Tankers has acquired US pool operator Penfield Marine to create a large-scale crude and product tanker company offering a wider range of services.
ADNOC expands its carbon management footprint by investing in Storegga
ADNOC has made its first international equity investment foray in carbon management by becoming a lead investor in Storegga.
Castrol: Will hydraulic systems bridge shift to all-electric subsea oil & gas production?
Castrol, part of the BP group, has provided its take on whether hydraulic systems will be thrown out with the all-electric subsea production bathwater.
Offshore wind: Both challenges and enormous opportunities lie ahead
The offshore wind industry has faced significant headwinds in the past couple of years, with most of the negative effects tracing their origin back to the start of the COVID-19 pandemic and the geopolitical turmoil caused by Russia’s aggression against Ukraine. This has led to supply chain instabili