Business Developments & Projects
UK supports 11 tidal energy projects with record capacity of over 50MW in latest CfD auction round
In its fifth round of the Contracts for Difference (CfD) scheme, the UK has supported 11 tidal energy projects with a record capacity of over 50MW and €11.6 million total ringfenced budget.
Two firms embark on merger quest to create ‘formidable force’ in offshore energy market intelligence
Aberdeen-based Archer Knight (Holdings) Limited has revealed a merger deal to acquire Singapore’s Energy Maritime Associates (EMA).
Offshore wind developers take a pass on UK’s fifth CfD round as maximum bid price was too low
The UK government has awarded 3.7 GW of renewable energy projects with Contracts for Difference (CfDs) in its fifth allocation round. Among the 95 new projects that secured CfDs are onshore wind, solar and tidal energy developments – and not a single megawatt of offshore wind. According to the gover
Uni-Tankers in major fleet expansion swoop
In a strategic move set to bolster its maritime capabilities, Danish ship owner and operator, Uni-Tankers, has unveiled that it has added five new vessels to its fleet. The fleet expansion includes long-term deals for four newbuilding vessels and one ECO small clean chemical/product tanker built in
LR and COSCO join forces for LNG fleet decarbonization pathway project
Classification society Lloyd’s Register (LR) and Shanghai COSCO Shipping LNG Investment, a subsidiary of China Shipping Corporation Limited, have signed an agreement to collaborate on a new project that aims to formulate and assess the decarbonization pathway for COSCO Shipping’s existing LNG carrie
Two new contracts bring €850 million to Saipem
Italian oilfield services provider Saipem has secured two new contracts for offshore activities in Côte d’Ivoire and Italy for an overall amount of €850 million. Saipem won a contract with Eni Côte d’Ivoire and its partner Petroci to deliver subsea umbilicals, risers, and flowlines (SURF) for the de
Maersk secures green methanol supply from Equinor
Container shipping heavyweight A.P. Moller-Maersk (Maersk) has signed an agreement with energy major Equinor thus securing the supply of green methanol for its landmark, methanol-enabled feeder vessel during its initial months of operation from September 2023 and into the first half of 2024. The agr
‘Demonisation’ of oil & gas seen as misleading: Is CO2 the main culprit responsible for climate change or the sun?
Three new research papers point a potential finger at the changes in solar activity as the primary cause of climate change.
Gears in motion for Aker BP to spud North Sea prospects with Odfjell rig
Aker BP has received consent from Norway’s offshore safety regulator for exploration drilling in the North Sea, using Odfjell Drilling’s rig.
Offshore surveys completed for SSE Renewables Arklow Bank Wind Park II
Two offshore survey campaigns have been completed for SSE Renewables’ Arklow Bank Wind Park II offshore wind farm in Ireland. The surveys took place over an eight-week period during July and August. According to SSE Renewables, the surveys were completed on schedule despite unsettled weather conditi
bound4blue’s wind-assisted propulsion systems get financial boost
Agricultural company Louis Dreyfus Company, French containment specialist GTT and the European Commission have invested in bound4blue’s Series A funding round, becoming shareholders of the company.
Italian cabling giant scoops €630 million contract for Adriatic Sea link
Italian cabling giant Prysmian Group has won another contract to deliver a submarine cable project in its homeland, worth around €630 million. With this, the company’s Projects Business Unit order intake exceeds €10 billion year to date, including preferred bidder agreements. Prysmian has secured th
UK set to join EU’s flagship Horizon Europe program – an ‘excellent’ news for ocean energy sector
The announcement that the UK is to join the EU’s flagship Horizon Europe program has been deemed as excellent news for Europe’s ocean energy sector as it could help enable the deployment of more ocean energy projects in the water, keeping Europe’s competitive edge in this emerging industry.
EU Commissioner for Energy to deliver keynote address at Ocean Energy Europe event
Kadri Simson, European Commissioner for Energy, will be present at this year’s Ocean Energy Europe Conference & Exhibition (OEE2023) to deliver a keynote address about what EU has in store for the future of ocean energy.