Business Developments & Projects
BW Offshore sells FPSO while pursuing redeployment opportunities
Norway’s FPSO operator BW Offshore has decided to sell one of its FPSOs, which it recently marked as a redeployment candidate.
Results ‘above all expectations’ as Prysmian reports best year ever
Italian cabling giant Prysmian Group has reported that 2022 was its best year ever in terms of financial results as its profits and cash generation had grown by over 50 per cent. For 2022, Prysmian’s adjusted EBITDA amounted to €1,488 million, representing a +52.5 per cent growth compared to 2021, w
Shell cleared for removal and disposal ops at North Sea field
Shell has received consent from Norway’s regulator for removal and disposal operations, as part of decom activities on a North Sea field.
Pushing for cleaner oil & gas production pays off, as UK North Sea flaring gets halved
UK’s regulator North Sea Transition Authority (NSTA) says flaring has been cut in half, following four consecutive years of reductions.
IMCA takes measures in response to increase in false ROV training certificates
International Marine Contractors Association (IMCA) has launched a new approval process for remotely operated vehicle (ROV) introductory training courses due to an increase in false certificates. IMCA reported on 9 March that it had introduced a new scheme to address the safety concerns of this unau
Gasgrid reduces number of planned LNG import slots at Inkoo terminal
Finnish transmission system operator Gasgrid Finland has reduced the total number of planned LNG import slots at the country’s first FSRU-based terminal for Q2 and Q3 2023. Finland’s floating LNG terminal is located in the port of Inkoo where Excelerate Energy’s floating storage and regasification u
Statkraft’s upgraded 2MWp floating solar plant starts commercial operation
The 2MWp floating solar plant in Albania, developed by Europe’s largest renewable energy generator Statkraft, has started producing renewable energy and injecting it to the Albanian electricity grid following the installation of three new floaters.
James Fisher and Østensjø Rederi ink seasonal vessel charter agreement
UK’s James Fisher Subtech (JF Subtech) has signed a seasonal charter agreement with Norwegian vessel operator Østensjø Rederi for the exclusive use of its inspection, repair and maintenance (IRM) and construction vessel. The agreement will see the Edda Savanah mobilized in April for work in the Nort
Lithuania’s Energy Ministry sends Letter of Expectation to Klaipedos Nafta
AB Klaipedos Nafta has received a Letter of Expectation from its shareholder, the Ministry of Energy of the Republic of Lithuania, which owns 72.47% of the company’s shares. According to Klaipedos Nafta, the Letter of Expectation confirms the direction of the changes sought by the company and enable
Wintershall Dea gives more work to Eidesvik PSV
Eidesvik has secured a contract extension for one of its PSVs with Wintershall Dea, enabling the vessel to continue working off Norway.
SINN Power outlines plans for floating solar plant in Germany
SINN Power, a German-based developer of floating renewable energy platform solutions, has put forward a plan to build a floating solar power plant in Eching am Ammersee, south-east Germany.
Following growing offshore wind demand, DEME subsidiary charters Mainport Geo
DEME Group’s subsidiary G-tec has signed a multi-year charter agreement with Irish Mainport Holdings for its DP2 survey vessel Mainport Geo, following growing demand from the offshore wind industry. G-tec said that the new vessel will enable it to further enhance its site investigation techniques. T
Instead of killing ‘the golden goose,’ UK politicians urged to work with oil & gas industry for balanced transition
The North Sea Chapter of the International Association of Drilling Contractors (IADC) has urged politicians to maintain focus to avoid ‘economic adversity’ for the UK.
History written offshore Denmark: First CO2 storage in the North Sea
INEOS and Wintershall Dea marked a major milestone and a world first on 8 March with the first-ever injection of CO2 in the North Sea as part of Project Greensand. Project Greensand includes capturing CO2 at an INEOS Oxide site in Zwijndrecht, Belgium, which is transported cross-border and stored in