Business Developments & Projects
500-day assignment in UK lands on Dolphin Drilling rig’s worklist
Dolphin Drilling has inked a letter of intent (LOI) for a long-term drilling program, enabling one of its semi-submersible rigs to carry operations in the UK with an undisclosed operator.
Solstad buys 2010-built CSV at ‘attractive terms’
Solstad Offshore has exercised its option to purchase a construction support vessel (CSV) from Norwegian Mpsv at what it finds are attractive terms. The vessel Normand Tonjer was sold to Mpsv for a gross amount of $10 million in 2021 and leased back on a bareboat agreement for a firm three-year peri
EU backs project to advance wave energy with €4 million grant
The European Union has awarded a €4 million grant to a project aimed at harnessing the untapped potential of wave energy. The SHY Project (Seawater HYdraulic PTO using dynamic passive controller for wave energy converters), a collaborative initiative dedicated to advancing wave energy, received the
Euronav to acquire CMB.TECH for $1.25 billion
Belgian tanker shipping company Euronav NV and its controlling shareholder CMB NV have entered into a share purchase agreement for the acquisition of 100% of shares in cleantech maritime group CMB.TECH for $ 1.150 billion in cash. Euronav said that the move fits its renewed strategy of diversificati
Hands full for TGS in North Sea
Oslo-headquartered TGS has secured an ocean bottom node (OBN) data acquisition contract in the North Sea for a repeat customer. The three-month proprietary OBN data acquisition is set to begin in the second quarter of 2024. TGS did not reveal any other information about the work scope or the contrac
Neste: Porvoo refinery to be gradually transformed into renewable and circular solutions refining hub
Finnish company Neste has completed the strategic study and begins a gradual transformation of its crude oil refinery in Porvoo into a renewable and circular solutions refining hub. Neste launched the strategic study in September 2022 with an aim to significantly grow its renewables and circular pro
Prosafe: With new vessel tenders on the horizon, tightening of supply on the cards
Oslo Stock Exchange-listed Prosafe is in high hopes over the upcoming tendering activity for 2025 and beyond, as the market tightens.
Norway’s gas production on the rise but oil still slightly below forecast
Norway saw a slight rise in oil production in November 2023 compared to the volume seen in October 2023 and last year.
Navigating the new normal: Vessel rerouting spurs higher emissions as ships avoid the Red Sea
In recent weeks, the Red Sea has become the epicenter of heightened tensions as Yemen’s Houthi group escalated their attacks on commercial vessels, sending shockwaves throughout the maritime industry. Germany’s Hapag-Lloyd and Hong Kong’s OOCL joined on Thursday numerous shipping companies, includin
Allseas starts subsea pipelay work for BP’s giant LNG project in Africa
Swiss-based construction company Allseas has commenced work on UK energy major BP’s ultra-deepwater Greater Tortue Ahmeyim (GTA) liquified natural gas (LNG) project offshore Mauritania and Senegal, with its vessels executing the subsea pipelay scope. According to Allseas, its construction support ve
EnQuest sells 15% interest in UK field and FPSO
EnQuest has reached an agreement with Viaro Energy for the sale of a 15% working interest in a North Sea field and floating production, storage and offloading vessel (FPSO). EnQuest reported it had reached an agreement with Viaro Energy’s subsidiary RockRose UKCS 10 today, December 22, to sell a 15%
Reprocessed seismic data reveals ‘promising chapter’ for Black Sea gas field
Canadian oil and gas player Trillion Energy has completed 3D seismic reprocessing for a natural gas field in the Black Sea off Türkiye which is said to have shown significant implications for exploration potential. 3D seismic reprocessing has been completed for the SASB gas field and Trillion Energy
Strohm Manager: Reusing existing pipelines for offshore hydrogen is the best solution, but…
Reusing existing pipelines for offshore hydrogen is the best solution that can be used, however, this does come with certain challenges, according to Bart Steuten, Product Development Manager at Strohm, Dutch thermoplastic composite pipe (TCP) producer. During Strohm’s presentation at The Stage at t
Equinor exits Azerbaijan
Equinor has signed an agreement with State Oil Company of Azerbaijan Republic (SOCAR) to divest all its remaining assets in Azerbaijan where it has been present since 1992. The assets comprise a 7.27% non-operated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the