Business Developments & Projects
OEG Offshore makes multi-million investment to pursue net zero ambitions
OEG Offshore has made a multi-million investment in SEAJET Systems, the developer of a trailblazing electric subsea excavation solution that is said to reduce CO2 footprint by 40 per cent. OEG Offshore said that the commitment to SEAJET is a further development in its move into the clean-tech sector
Big oil to keep capital investment taps closed despite collecting $283 bln in 2022, says Westwood
Westwood looks into the conundrum concerning the cashflow and capex of five supermajors: BP, Shell, Chevron, ExxonMobil and TotalEnergies.
Oldendorff moves forward with Yara scrubber installations on Capsesize newbuilds
German dry bulk operator Oldendorff Carriers has named its second Cazesize newbuilding built by Namura Shipbuilding in Japan. The vessel was named M/V Gina Oldendorff and follows the delivery of its sistership Alice Oldendorff, which was built also built by Namura and handed over in November 2022. B
Carisbrooke Shipping to trial hydrogen engine on board one of its vessels
UK-based shipping company Carisbrooke Shipping has partnered with London-based tech startup Carnot Ltd whose consortium has been awarded £2.3M to develop a zero-emission hydrogen auxiliary engine demonstrator. Following design, simulations and rigorous testing, the single-fuel hydrogen 50kW engine w
CIMC Group: MSC’s recently ordered LNG-powered boxships will be ammonia-ready
Although liner heavyweight Mediterranean Shipping Company (MSC) is trying to keep its ordering of new boxships on the down low, details have emerged of the company’s ten recently ordered LNG dual-fuel containerships. The order was confirmed by China’s CIMC Group, which disclosed that the constructio
Multiconsult nets engineering contract for Snøhvit Future project
Engineering consultancy Multiconsult has been awarded a contract from energy company Equinor and the Snøhvit partners to deliver detailed engineering of the grid connection for the Snøhvit Future project. The contract value is estimated to approximately NOK 38 million ($3,7 million), and Multiconsul
TechnipFMC to deliver subsea production systems for two Equinor fields
Norwegian state-owned energy giant Equinor has awarded TechnipFMC with contracts for the delivery of subsea production systems for two of its development projects located in the Norwegian Sea. The contracts, awarded under a framework agreement with Equinor, will see TechnipFMC supply and install sub
On a mission to curb rig emissions, Diamond Offshore joins forces with Norwegian firm
In a bid to reduce its carbon footprint and improve energy efficiency, Diamond Offshore, has teamed up with Norway’s Stepwise.
Energean and Shell join forces to investigate decarbonisation solution
Energean Egypt and Shell Egypt have entered a Memorandum of Understanding (MoU) to explore a mutually beneficial decarbonisation solution. According to Energean, the MoU is designed to support the decarbonisation and the energy transition of the Arab Republic of Egypt, contributing to global efforts
Costa Group, Proman to drive adoption of methanol as a marine fuel for the cruise industry
Carnival Corporation’s Costa Group and Proman, a top methanol producer, have signed a Memorandum of Understanding (MoU) to advance the use of methanol as a marine fuel for the cruise industry. The partnership aims to accelerate the energy transition and decarbonization of the existing fleet by impro
New company for offshore services comes to market
France-headquartered Bourbon and Canada’s Horizon Maritime have established a new company with a base fleet of seven vessels dedicated to providing marine services and operations with a focus on the North Sea and Canadian offshore markets. Incorporated in Norway, Bourbon Horizon is strategically pos
Belgium and Germany bolster energy collaboration
Belgium and Germany have signed an agreement to intensify their energy collaboration and enhance their energy independence, through an Energy Contact Group among other things. The agreement was signed on 15 February in Zeebrugge where Belgian Prime Minister Alexander De Croo received German Chancell
US company to use TTI’s NetBuoy concept for wave energy device
California-based wave energy technology developer Centipod has teamed up with TTI Marine Renewables, a Scottish subsidiary of Tension Technology International (TTI), on the development of its wave energy device.
Two shallow gas pilot holes on Aker BP’s drilling agenda in Norwegian Sea
Aker BP has received consent from Norway’s offshore safety regulator for exploration drilling in the Norwegian Sea.