Business Developments & Projects
Better contracting conditions and high activity back Fugro
Fugro’s revenue for the third quarter of 2023 is €608.9 million, an increase from €480.2 million reported in the same quarter of 2022 – a result said to be due to better contracting conditions, high activity levels and good project execution. Fugro reported that its revenue was up by 32.6% on a curr
Havila Shipping sells three vessels to repay debt
Havila Shipping has sold three vessels – one platform supply vessel (PSV) and two anchor handling tug supply (AHTS) ones – following demands from lenders, and in accordance with its current restructuring agreement.
Germany secures more Norwegian gas, as Equinor and RWE pen five-year supply agreement
Equinor has inked a new supply agreement for natural gas with RWE, which is expected to aid in bolstering Germany’s energy security.
EU & Namibia boost collaboration on sustainable raw materials and H2
European Commission (EC) President Ursula von der Leyen and President of Namibia Hage Geingob have endorsed the roadmap for the EU–Namibia strategic partnership on sustainable raw materials value chains and renewable hydrogen, supported by €1 billion in investments by the EU, its member states and E
11-meter-long Kongsberg AUV makes a splash
Kongsberg Discovery has commenced an extensive program of sea trials for its new long-range autonomous underwater vehicle (AUV) Hugin Endurance. Measuring approximately 11 meters in length, with a diameter of 1.2 meters and weighing around 8,000 kg, Hugin Endurance is said to be the largest member o
Bord Gáis Energy joins ESB and dCarbonX on green hydrogen storage project
Bord Gáis Energy, part of Centrica plc, has joined ESB and dCarbonX on the Kestrel project which proposes the re-development of decommissioned gas reservoirs at the Kinsale Head gas field offshore Ireland for large-scale green hydrogen storage. ESB and dCarbonX, an associate company to Snam, have be
UK offers first batch of licenses in 33rd offshore oil & gas round to fortify energy security
North Sea Transition Authority (NSTA) has awarded 27 licenses in areas with the potential to go into production more quickly than others to bolster Britain’s energy security.
Dutch govt, maritime sector pledge €60 million to turbocharge shipbuilding innovation
The Dutch government has launched a sweeping maritime manufacturing industrial policy in collaboration with the maritime sector, aimed at driving the transition to cleaner energy and ensuring economic and military security. The effort, unveiled in Rotterdam on October 26, sets the stage for a joint
In focus: Stimulating industry-transforming changes through new hydrogen technologies
New programs for the transformation of the offshore energy sector are here. Through these actions, the industry is dealing with the following questions: to provide energy that is secure, affordable and lower in carbon. Example number one: Korea’s Ministry of Trade, Industry and Energy (MOTIE), energ
Fortescue to acquire 12.5% ownership interest in Norwegian Hydrogen
Fortescue, a global green energy, metals and technology company, has invested close to NOK 100 million ($8.9 million) to become a shareholder in Norwegian Hydrogen. The investment will see Fortescue acquire a 12.5% ownership interest in Norwegian Hydrogen, becoming the third largest shareholder. For
Report: Shell to cut low-carbon jobs and scale back hydrogen business
According to news agency Reuters, energy major Shell will cut at least 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO Wael Sawan’s drive to boost profits. The staff cuts and organizational changes come after Sawan, appointed as CEO in Ja
Balticconnector and telecom cable incidents are related, Estonian Prime Minister says
The incidents that caused damage to the Balticconnector gas pipeline and telecom cables between Estonia, Finland, and Sweden are related, according to Estonian Prime Minister Kaja Kallas. Kallas met with Finnish Prime Minister Petteri Orpo and Swedish Prime Minister Ulf Kristersson in Brussels yeste
Seaway7 contracts Hellenic Cables for inter-array cables
Greece’s Hellenic Cables, the cable segment of Cenergy Holdings, has signed a contract with Seaway7 for the supply of inter-array cables for the East Anglia Three offshore wind farm in the UK. Under the contract, Hellenic Cables will be responsible for the engineering, manufacturing, testing, and su
Winners of Denmark’s first PtX tender to build over 280 MW of electrolysis capacity
The Danish Energy Agency has closed the first Power-to-X tender, revealing six winning project divided between four companies. The selected six projects will together build over 280 MW of electrolysis capacity. The tender was launched in April and was open until September 1, 2023. Through the tender