Business Developments & Projects
Equinor’s profit spikes on high output and prices
Norwegian energy giant Equinor has seen a significant increase in its quarterly profit driven by high production and energy prices.
CGG to back BP’s digital strategy under new multi-year deal
CGG has signed a major multi-year global data transformation and curation agreement with BP, expected to play a key role in supporting the oil and gas giant’s subsurface digital strategy. According to BP, the agreement will provide a true win-win opportunity to leverage the capability of both compan
MSC, Quadrise to test lower-carbon fuels on commercial containerships
MSC Shipmanagement Limited of Cyprus, a subsidiary of Mediterranean Shipping Company (MSC), has signed a framework agreement with Quadrise, the supplier of MSAR and bioMSAR, to test the use of lower-carbon fuels on one or more containerships.
S&P Global introducing carbon-accounted tanker assessments under EU ETS
Starting on 1 August, S&P Global Commodity Insights, a provider of energy and commodities information, will launch daily Platts price assessments for freight emissions under the European Union’s Emissions Trading System (ETS). As explained, the new assessments will show the cost of carbon dioxide em
Furetank places order for eleventh climate-friendly tanker
Swedish shipping company Furetank has ordered one more dual-fuel tanker to be added to its Vinga series of energy-efficient climate-friendly ships. Like its sister vessels, the new tanker will be built by China Merchants Jinling Shipyard in Yangzhou, with the delivery scheduled for July 2024. Fureta
Fugro on survey duty at Vattenfall’s offshore wind pair
Fugro is set to soon commence a geophysical and geotechnical site survey at Vattenfall’s Norfolk offshore wind projects in the North Sea. Fugro Discovery will be deployed over the survey area starting on or around 1 August, with the activities set to be completed by the end of November. The 70-meter
Drill bit spins at exploration well in North Sea
Oil and gas company Neptune Energy has started drilling the Ofelia exploration well in the Norwegian sector of the North Sea.
EnQuest prolongs Petrofac’s gig on North Sea platform
EnQuest has awarded a long-term contract extension to Petrofac to continue supporting a platform in the UK North Sea.
First Dutch wave energy device takes the North Sea test
For the first time ever, a Dutch-made wave energy converter has been installed in the coastal waters of the Netherlands by the company Slow Mill Sustainable Power, which plans to use the demonstration to further streamline its wave energy technology.
As rig day rates grow, Transocean adds $650 million to backlog
Offshore drilling contractor Transocean has secured new contracts and extensions for its rigs with notable day rate increases.
Technip Energies to provide equipment for TotalEnergies LNG terminal in Le Havre
French engineering company Technip Energies will supply a marine loading arm to compatriot energy major TotalEnergies as part of the floating storage and regasification unit (FSRU) project in Le Havre, France.
Shell sanctions Jackdaw gas project in North Sea
Shell has taken the final investment decision to develop the Jackdaw gas field in the UK North Sea, following regulatory approval earlier this year.
Fugro’s revenue strong despite inflationary and supply chain pressures
Fugro has reported a revenue of €833 million for the first half of 2022, an increase of 17.2% compared to the same period last year, driven by growth in all markets, particularly high client demand for renewables services. Utilization of Fugro’s fleet was 67% in the first half-year, versus 69% in th
WATCH: Refurbished storage vessel goes back offshore for 20 more years of production
Equinor’s Njord Bravo storage vessel is now back on the field offshore Norway following years of upgrades.