Business Developments & Projects

Southeast Asia’s hydrocarbon push: Valeura hits oil pay, eyes new satellite development

Southeast Asia’s hydrocarbon sector has gained fresh momentum as Canadian oil and gas company Valeura Energy struck an oil discovery near its existing offshore field in the Gulf of Thailand, potentially supporting a new satellite development while extending the productive life of existing infrastruc

FSRU docks in Stade as LNG terminal prepares to feed gas into German grid from November

A 294-meter floating storage and regasification unit (FSRU) has arrived at the new liquefied natural gas (LNG) terminal in Stade, marking the start of commissioning preparations and bringing the facility a step closer to operations, with gas feed-in to Germany’s grid expected from November.

Fore-accommodation LNG carrier with four Wind Challenger sails clears LR design appraisal

A new liquefied natural gas (LNG) carrier design that moves the accommodation block and bridge to the bow to make room for four wind-assisted sails has cleared a key technical milestone, with Lloyd’s Register, a maritime classification society, affirming technical readiness of the HD Hyundai Heavy I

Verlume and SubCtech join forces to power up integrated subsea ops

UK-headquartered subsea power specialist Verlume and German marine technology company SubCtech are pooling resources to develop and deliver integrated subsea power solutions for offshore energy and defense applications.

Fresh gas discovery augments Aker BP’s North Sea arsenal

Norwegian oil and gas company Aker BP has struck gas in the North Sea, opening up a new opportunity 25 kilometers north of the Duva field. The operator and its partners will now assess whether the discovery could be commercially viable.

Alpin Weld – when offshore work goes beyond welding

Saipem hands Saudi jack-up fleet to ADES in strategic shallow-water exit

Italy’s engineering, drilling, and construction services company Saipem has divested its shallow-water drilling business in Saudi Arabia to ADES Saudi Limited Company, an indirect subsidiary of Saudi Arabia-headquartered ADES Holding Company, which has now added about SAR 3.7 billion ($987 million)

Valeura advances Gulf of Thailand expansion with PTTEP farm-in approval

Canadian oil and gas company Valeura Energy has received the go-ahead for its acquisition of partial stakes in two offshore blocks in the Gulf of Thailand from Thailand’s national oil and gas player, PTT Exploration and Production Public Company Limited (PTTEP).

Santos broadens Asia-Pacific LNG portfolio with Canadian supply and 10-year POSCO deal

Australia’s energy player Santos is stepping up its liquefied natural gas (LNG) push in Asia through a long-term supply deal with South Korea’s POSCO and a proposed agreement to buy 1 million tonnes per year (mtpa) from an LNG project being developed on Canada’s northwest coast to export lower-carbo

Borr Drilling keeps three jack-up rigs as it reorganizes Mexico ops with stake sale

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has taken steps to streamline its operations in Mexico through a sale of its interests in joint ventures Perforaciones Estratégicas e Integrales Mexicana and Perforaciones Estratégicas e Integrales Mexicana II, known toge

Petrobras taps Strohm for up to 1,500-meter deepwater TCP trial offshore Brazil

Dutch thermoplastic composite pipe (TCP) manufacturer Strohm has been hired on an assignment, covering the supply, qualification and offshore trial of thermoplastic composite pipe (TCP) for water injection and gas lift applications in Brazil’s deepwater post-salt province, in a project that will tes

MODEC, Eld Energy chart path to low-carbon FPSO power with ABS milestone

Japan’s MODEC and Eld Energy, a Norwegian fuel cell system company, have cleared a key milestone in the new technology qualification (NTQ) process from the American Bureau of Shipping (ABS), advancing their solid oxide fuel cell (SOFC) power system toward deployment on operating floating production,