Business Developments & Projects
With ‘diversity in the player landscape,’ Norway offers offshore oil & gas licenses to 25 firms
Norway has offered production licenses to 25 companies for further exploration activity on the Norwegian continental shelf (NCS).
Maersk expands executive team as Clerc takes over the reins
Danish container shipping major Maersk has appointed a new executive leadership team as the company kick-starts the year under the helm of Vincent Clerc as CEO. As we reported earlier, Clerc took over the reins at A.P. Moller – Maersk on January 1, 2023, following the retirement of his predecessor S
DNV partners up with Ocyan, LZ Energia to decarbonise drilling operations
Ocyan, a subsidiary of the Novonor group that provides solutions for the upstream offshore oil and gas industry in Brazil and abroad, and LZ Energia, developer of technological solutions to reduce its customers’ operations fuel consumption and air pollution, have appointed DNV, the global independen
Tekmar Group companies clinch new batch of contracts
Pipeshield International and Subsea Innovation, Tekmar Group companies, have secured several contracts described as “significant”.
Solstad PSV hits ‘incredible’ emission reduction and fuel saving milestone
Solstad Offshore’s platform supply vessel (PSV) Normand Leader has saved 29 per cent of emissions and fuel consumption compared to a normal transit and only minor vessel speed alternations. Solstad said it had worked with partner VPS Decarbonization over the last weeks to use data analytics to save
Three UK-produced ROVs get to work on Petrobras’ oilfields
Forum Energy Technologies (FET) has delivered three work-class remotely operated vehicles (ROVs) to Brazil-based OceanPact for deployment on Petrobras’ oilfields. The three 200HP Perry XLX-C ROVs, manufactured at FET’s UK facility at Kirkbymoorside, North Yorkshire, will be deployed on two of OceanP
Oceans of Energy gets Bureau Veritas’ nod of approval for offshore floating solar system
Certification group Bureau Veritas has issued a world’s first ‘approval in principle’ for a high-wave offshore solar farm system design to a Dutch-based company Oceans of Energy.
KSOE and partners to work on hydrogen and fuel cells
Korea Shipbuilding and Offshore Engineering (KSOE), a research-oriented intermediate holding company of the Hyundai Heavy Industry (HHI) Group, Germany’s Fraunhofer Institute for Ceramic Technologies and Systems (IKTS), and European solid oxide systems (SOC) producer ELCOGEN have agreed to collabora
Prysmian’s Cable Enterprise begins installing Spanish interconnector
Prysmian Group’s cable-laying vessel Cable Enterprise has begun the cable-laying operations for a new submarine power interconnection in Spain. The Italian cabling giant reported on 9 January that the cable layer started work for the new electricity link between Ibiza and Formentera, awarded by Span
Frontline pulls the plug on the highly anticipated $4.2 bln merger with Euronav
Norwegian tanker owner and operator Frontline has terminated the combination agreement it entered into with Belgian counterpart Euronav in July 2022, the company revealed on Monday in a sudden turn of events. The stock-for-stock merger deal would have created a global oil tanker operator valued at $
Fugro and Enviros mapping out wind areas offshore Norway
The Norwegian Petroleum Directorate (NPD) has awarded contracts to the companies Fugro and Enviros to map the shallowest strata under the seabed with the objective of locating sites that are best suited for the placement of wind turbines. Fugro has been awarded the contract for the Sørlige Nordsjø I
TECO 2030’s FCM400 development enters final stages
Norway’s cleantech company TECO 2030 has completed the selection of all major component suppliers and procured the necessary parts for the first fuel cell modules FCM400, bringing the modules’ development close to completion. The first units are now ready for assembly, with the project now shifting
Archer increases 2023 guidance as it closes purchase of P&A specialist
Oilfield services provider Archer has closed the acquisition of plug and abandonment (P&A) specialist Romar-Abrado, increasing its guidance for this year. The acquisition is based on an enterprise value of $8 million, plus earn-out pending trading performance over 2023 to 2025, and is conducted on a
Asso.subsea to install export cable for Ostwind 3
Hellenic Cables has signed a contract with Asso.subsea for the transportation, installation, and protection of the 220 kV submarine export cable that will connect 50Hertz’s own transformer platform at the Windanker wind farm in the Baltic Sea to the national grid as part of the Ostwind 3 grid connec