Business Developments & Projects
Shell and Ocean Infinity bolster subsea ties under five-year agreement
Houston-based marine robotics company Ocean Infinity has signed a five-year global framework agreement (GFA) with energy giant Shell concerning subsea data capture services. The GFA encompasses all countries where Shell is currently active or plans to operate in the future and covers the provision o
Nine hydrogen and renewable energy startups make the cut for EDP’s Energy Starter in Singapore
EDP has chosen nine startups with renewable and green hydrogen projects for its Energy Starter, an open innovation program, in Singapore.
Australian oil & gas player to lay off 30% of its workforce as part of strategic review
Australian oil and gas player Beach Energy is planning to reduce the headcount across the business by 30% as part of a move aimed at achieving efficiency and operational cost improvements. Beach Energy announced on February 12, 2024, it was undertaking a comprehensive strategic review that aims to r
SolarDuck wins ‘world’s first’ prototype certification for floating solar technology
Bureau Veritas Group has awarded Dutch-Norwegian company SolarDuck the world’s first prototype certification for floating solar technology. This floating solar technology’s implementation was demonstrated in SolarDuck’s 0.5 MW pilot project Merganser. The certification of the Merganser prototype com
Private equity investors acquire Acteon, new CEO to take over
Offshore energy infrastructure services company Acteon Group has been acquired by private equity investors Buckthorn Partners and One Equity Partners (OEP), with a new Chief Executive Officer (CEO) taking the helm. According to Acteon, Buckthorn and OEP are making a substantial investment in the bus
ITM Power’s MW-class PEM electrolyzer installed in Japan
In collaboration with Sumitomo Corporation, ITM Power has completed the delivery and installation of a NEPTUNE electrolyzer at Tokyo Gas’ Yokohama Techno Station.
Stena Drilling’s new drillship to get equipment that allows access to ‘previously inaccessible reservoirs’
UK-based offshore drilling contractor Stena Drilling is set to deliver an equipment upgrade for its newest drillship that is expected to make it capable of drilling in previously inaccessible reservoirs. The seventh-generation drillship Stena Evolution is about to undergo an equipment upgrade which
PetroVietnam to buy LNG from QatarEnergy, first shipment due in April
PetroVietnam has signed a contract with QatarEnergy LNG to purchase 70,000 metric tons of LNG set to be delivered next month.
Allseas’ new pipelaying barge preparing for its first project
Allseas’ newly converted shallow-water pipelay barge has begun preparations for its first commercial project, following sea trials offshore Malaysia. The crew is mobilizing the flat-bottomed barge called Sandpiper for its first commercial project which kicks off next month, following a period of 18
PONANT and FARWIND Energy ally on renewable marine hydrogen
PONANT and FARWIND Energy are collaborating on innovative ship refuelling solutions with renewable hydrogen.
Offshore block near Abu Dhabi starts oil production
UAE energy giant Abu Dhabi National Oil Company (ADNOC) has started crude oil production from its Belbazem offshore block, helping meet growing demand for Abu Dhabi’s lower-carbon intensity oil and gas. The block, operated by Al Yasat Petroleum, a joint venture between ADNOC and China National Petro
Green North Energy’s new plants target Finland’s self-sufficiency in ammonia production
Green North Energy proposes to build green hydrogen and ammonia plants as part of BalticSeaH2 project in Finnish cities Pori and Kemi.
SEA-KIT and Lloyd’s Register set new milestone in USV certification
SEA-KIT International’s latest 12-meter X-Class uncrewed surface vessel (USV) Fugro Blue Essence has been awarded Lloyd’s Register (LR) unmanned marine systems (UMS) certification, which stands as the company’s fifth certificate, and the first LR UMS certificate for a Category 0 certified vessel. T
McDermott returns to Malaysian field under ‘sizeable’ contract with PTTEP
McDermott has won what it defines as a “sizeable” offshore transportation, installation and commissioning contract from PTTEP Sabah Oil Limited (PTTEP) for a project offshore Malaysia on which it had worked in the early 2010s. Under the contract worth between $1 million and $50 million, McDermott wi