Business Developments & Projects
Fortum to supply renewable power to Novatek’s Cryogas-Vysotsk LNG
Russia’s LNG producer Novatek signed a power purchase agreement for renewable electricity with the European energy company Fortum to supply Cryogas-Vysotsk LNG plant.
Equinor to book $1.8 bln impairment as UK field reserves shrink
Equinor has reduced its recoverable reserves estimate for a field in the UK North Sea, which will result in a $1.8 billion impairment.
Hydrogen-powered USV designer joins UK Chamber of Shipping
ACUA Ocean, a clean maritime startup, has joined the UK Chamber of Shipping, the trade association of the UK shipping industry that gathers around 200 members.
SeaRAY’s energy storage system on its way to Hawaii
EC-OG’s Halo intelligent subsea battery storage system, which will be integrated into C-Power’s SeaRAY autonomous offshore power system (AOPS), has been shipped from Scotland to Hawaii. Halo, currently on its way to Honolulu, will serve as the energy storage system and gravity anchor for C-Power’s d
Wood in recruitment drive for 200 roles to support growth in Middle East
Wood has marked a year of strategic growth in the Middle East region after accumulating $580 million of secured backlog in 2021.
Norwegian firms partner up for new subsea technology
Norway’s IK-Group and Nautilus Subsea have signed a memorandum of understanding (MoU) to together deliver new subsea technology to the industry. End-user benefits will include accelerated project execution which will deliver cost-saving through reduced offshore campaigns and vessel time, IK-Group st
TECO 2030, Gen2 Energy team up for green hydrogen projects
Norwegian cleantech company TECO 2030 and its compatriot energy firm Gen2 Energy have signed a memorandum of understanding (MoU) to cooperate on relevant projects where green hydrogen is needed for fuel cells.
CGG schedules phase 3 of Northern Viking Graben survey
CGG is set to commence phase three of the dual-azimuth multi-client 3D survey in the Northern North Sea in May. The multi-year survey adds a second azimuth over CGG’s existing Northern Viking Graben (NVG) multi-client 3D survey and extends coverage into the UK Continental Shelf. Starting in early Ma
Ørsted joins Liquid Wind on FlagshipONE e-methanol project
Offshore wind developer Ørsted will buy a 45% share of power-to-fuel developer Liquid Wind’s FlagshipONE e-methanol project in Sweden to decarbonise the maritime sector.
Wilhelmsen Ship Management takes 80% stake in Ahrenkiel Tankers
Singapore-based ship manager Wilhelmsen Ship Management has signed an agreement to acquire a majority stake in Germany’s Ahrenkiel Tankers, strengthening its position in the tanker market.
Aker BP cleared to drill pilot well in North Sea
Norwegian offshore regulator has granted Aker BP consent for exploration drilling in the North Sea, using the Deepsea Nordkapp rig.
The largest dredging project in Thyboron Port history wraps up
The dredging of the fairway to the Danish Port of Thyboron – Thyboron Canal – is now complete. A water depth of 10m in the fairway from the North Sea and between the pier heads into the outer harbour and all the way down to the Limfjordskaj quays in Sydhavnen is now a reality. For […]
Driven by gas and LNG, global oil & gas investments set to rise in 2022, Rystad says
Global oil & gas investments will expand by $26 bln this year as the industry continues its recovery from the pandemic, Rystad Energy says.
Wilson acquires 11 bulk carriers under Arkon deal
Norwegian short-sea operator Wilson has entered into an agreement to purchase eleven bulk carriers under the lease contract signed with German Arkon Shipping in 2020.