Business Developments & Projects
Norwegians to invest €872 million in new gas field
OMV Norge and its partners have submitted the plan for development and operation (PDO) for the Berling gas field, previously known as Iris Hades, to Norway’s Ministry of Petroleum and Energy. The Berling field, which stretches across three licenses with aligned ownership interests (PL644, PL644B and
EC approves €40 billion German measures to recapitalise two energy companies in context of Russia’s war against Ukraine
European Commission (EC) has granted approval for Germany’s aid measures to recapitalise energy companies Securing Energy for Europe (SEFE), previously known as Gazprom Germania GmbH, and Uniper in the context of Russia’s war against Ukraine. On 19 December, Uniper and the German Federal Government
EU axes two Turkish yards from approved shipbreaking list
Two yards from Turkey have been removed from the EU List of Ship Recycling facilities as they failed to meet the requirements of the union’s ship recycling regulation. The European Commission said that one yard failed to sufficiently protect its employees’ working conditions, and the other was de-li
ADNOC buying stake in Austrian oil and gas firm
Abu Dhabi National Oil Company (ADNOC) is acquiring a 24.9 per cent shareholding in Austrian oil and gas company OMV from Mubadala Investment Company. Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company, holds 31.5 per cent, with the remaining share capital in free float.
Nearly €800 million subsidy goes to seven large hydrogen projects in Netherlands
Seven hydrogen projects in the Netherlands have received a subsidy of almost €800 million from the second wave of Hydrogen Important Projects of Common European Interest (IPCEIs). The projects that received the financial support were assessed by The Netherlands Enterprise Agency (RVO) in the past mo
Milestone for Armach’s in-water hull service robot
U.S.-based ship husbandry firm Armach Robotics has achieved a critical milestone during a demonstration of the in-water hull service robot (HSR). Armach, a spin-off company of marine software firm Greensea Systems launched in March this year, is currently in the ‘build it prove it phase’ that will a
New gas discovery for TotalEnergies and Eni off Cyprus
France’s TotalEnergies and Italian Eni, two oil and gas majors, have made a new gas discovery at the Zeus-1 well in Block 6 located offshore Cyprus. The Zeus-1 well encountered 105 meters of net gas pay in carbonate reservoirs, which, as the partners said, re-enforces the promising outlook for the a
Consortium inks EU grant agreement for hydrogen tanker retrofit project
Consortium working on the hydrogen-powered tanker concept HyEkoTank has signed a grant agreement with the European Union, which comprises €5 million in grants under the funding scheme HORIZON EUROPE.
Seabed suitable for Lithuania’s first offshore wind farm
Surveys of the area that the Lithuanian Government selected for the country’s first offshore wind farm have shown that the seabed in the Baltic Sea is suitable for the development of this type of project. The Lithuanian Energy Agency selected Geobaltic and Garant Diving to carry out the geophysical
Gasgrid wraps up works to launch Inkoo LNG terminal, awaits FSRU arrival early next week
Finnish transmission system operator Gasgrid Finland has completed construction work for the floating LNG terminal in the deep harbour area in Inkoo as it expects Excelerate Energy’s floating storage and regasification unit (FSRU) Exemplar to reach the terminal as early as 25 December. On 20 Decembe
Falcon ROV on Minesto’s tidal power job in Faroe Islands
Local marine services provider SJH Commercial Diving has outlined plans to use Saab Seaeye’s Falcon underwater robot to support Minesto’s tidal power work in Faroe Islands.
Equinor plans to invest $1.3 billion in Hammerfest LNG upgrade and electrification
Norwegian energy player Equinor and its partners in the Snøhvit project have revealed plans to invest NOK 13.2 billion (around $1.3 billion) in upgrading the Hammerfest LNG (HLNG) plant at Melkøya with onshore gas compression and electrification. On 20 December, Equinor submitted a plan for developm
Ørsted acquires full ownership of Europe’s largest green electrofuel project with FID in place
Swedish green electrofuels developer Liquid Wind has informed that its partner, Danish offshore wind developer Ørsted, will acquire full ownership of the FlagshipONE project, the largest green electrofuel facility in Europe that has reached a final investment decision (FID). The project was develope
Crown Estate accelerates Celtic Sea floating offshore wind surveys
The Crown Estate has announced the awarding of the first contracts for its first major investment in surveys to help with the construction of floating offshore wind farms in the Celtic Sea. The awarding of the first contracts marks an important step in what is anticipated to be a multi-million pound