Business Developments & Projects
Following ‘very promising 2023’, energy services sector anticipated to grow to $1 trillion
The global market for oil and gas contractors is expected to rise to a peak of $1 trillion in 2025 and remain at high levels for several years, according to a report by energy intelligence group Rystad Energy. For the 2022-2028 period, overall oil and gas spending is anticipated to stay above $920 b
Wavepiston announces new crowdfunding campaign
Danish company Wavepiston has unveiled plans to launch a new crowdfunding campaign to support the demonstration of its wave energy technology at full scale.
GTT nets new LNGC tank design order from Hyundai Samho
French LNG containment specialist GTT has received a new order from its partner the Korean shipyard Hyundai Samho Heavy Industries (HSHI) for the tank design of two new LNG carriers (LNGCs). The order was received at the beginning of 2023 on behalf of a European shipowner. GTT will design the tanks
Minesto finds local partner to deliver tidal power plants in Philippines
Swedish marine energy company Minesto has signed an agreement with Poseidon Renewable Energy Corporation for strategic collaboration on the roll-out of tidal energy power plants in the Philippines.
Neptune brings another well on stream at North Sea gas field
Oil and gas company Neptune Energy has started production from the tenth well at its operated gas field in the UK southern North Sea.
Equinor and Vår Energi leave Barents Blue ammonia project as new partner joins
Norwegian energy companies Equinor and Vår Energi are withdrawing from the Horisont Energi-operated Barents Blue project, also known as Europe’s first large-scale blue ammonia production facility. Equinor and Vår Energi decided to leave the project as the cooperation agreement expired on 31 January.
WATCH: Activists board Boskalis vessel carrying Shell’s North Sea-bound FPSO
Environmental activists have boarded Boskalis vessel, which is transporting a circular FPSO destined for Shell’s oil & gas project off the UK.
Sunfire to boost Swedish Project Air
Swedish Project Air is moving full steam ahead with Düsseldorf-based energy company Uniper commissioning the Dresden-based company Sunfire to build a 30 MW pressurized alkaline electrolysis plant which will generate green hydrogen using renewable electricity and purified wastewater. The final invest
TechnipFMC wins ‘large’ iEPCI contract for Aker BP’s oil & gas project
Norway’s oil and gas company Aker BP has awarded TechnipFMC with an integrated engineering, procurement, construction, and installation (iEPCI) contract for the Utsira High development. The contract brings together three projects in the North Sea that will tie back to the Ivar Aasen and Edvard Grieg
Turning depleted natural gas fields into ‘one of the biggest carbon storage and hydrogen production clusters’
Spirit Energy has confirmed its plan to transform two depleted gas fields in Morecambe Bay into a carbon storage cluster.
Nova Innovation makes waves with two new tidal turbines
Edinburgh-based tidal energy company Nova Innovation has doubled the size of its Shetland Tidal Array with the installation of two new turbines.
UAE and France to decarbonise HTA industries
The UAE and France have agreed to launch a bilateral programme to develop commercial and investable opportunities to accelerate clean energy development, notably in the decarbonisation of hard-to-abate (HTA) industries, including clean hydrogen solutions for mobility. According to Masdar, (Abu Dhabi
Energy majors and LedaFlow set up carbon capture and storage research consortium
LedaFlow Technologies has formed a research consortium with energy companies ConocoPhillips, TotalEnergies, Equinor and ExxonMobil Technology & Engineering as well as sub-suppliers Kongsberg Digital, SINTEF Industry, and SINTEF Energy Research to enhance its multiphase transport simulator technology
McDermott joins in on Greece-Africa interconnector project
McDermott and Eunice Energy Group have signed a memorandum of understanding (MoU) to cooperate on a 2 GW electrical interconnector between Greece and Egypt. Eunice Energy Group is leading the transnational consortium between Greece and Egypt for the Greece-Africa Power (GAP) Interconnector project,