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Business & Finance

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Investment approval request submitted for Cyprus-Israel interconnector, project viable in all scenarios
Business & Finance

Investment approval request submitted for Cyprus-Israel interconnector, project viable in all scenarios

Greece’s transmission system operator (TSO) Independent Power Transmission Operator (IPTO), as the project promoter of the Great Sea Interconnector (GSI) that will connect Cyprus and Israel, has submitted an investment approval request to the regulatory authorities of both countries. This is the nec

about 2 months ago
Breakwater rehabilitation making headway for Portugal’s 1 MW wave energy project
Business & Finance
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Breakwater rehabilitation making headway for Portugal’s 1 MW wave energy project

Breakwater rehabilitation works have started in Portugal for Eco Wave Power’s megawatt-scale wave energy project following damage caused by a storm. Administração dos Portos do Douro, Leixões e Viana do Castelo (APDL) is carrying out the rehabilitation works at the Barra do Douro breakwater in Porto

about 2 months ago
€1.5 billion turnkey contract awarded for Greek interconnection
Business & Finance

€1.5 billion turnkey contract awarded for Greek interconnection

Greek Hellenic Cables, the cables segment of Belgium-headquartered Cenergy Holdings, has secured a turnkey contract from the Greek transmission system operator (TSO), Independent Power Transmission Operator (IPTO), valued at approximately €1.5 billion, to deliver the Corinth-Kos HVDC electrical inte

about 2 months ago
Munin topside; Source: Mammoet
Business & Finance

With platform topside ready for sail-away, North Sea gas project edges closer to start-up (Gallery)

Netherlands-based heavy lifting and transport provider Mammoet has assisted Aibel, which is responsible for the engineering, procurement, and construction (EPC) of a topside segment of an unmanned processing platform to be deployed at a gas development in the Norwegian North Sea, with critical heavy

about 2 months ago
Minesto reshapes organization to drive commercial expansion of tidal technology
Business & Finance

Minesto reshapes organization to drive commercial expansion of tidal technology

Swedish ocean energy developer Minesto has implemented organizational changes to further strengthen its ability to execute commercial projects and improve the product sales offering related to the installation and handling of its Dragon tidal energy technology. This comes following the organizationa

about 2 months ago
Borr Drilling’s Prospector 1 rig; Source: Neptune Energy
Business & Finance

Seven Borr Drilling rigs find more work in Asia, Europe, and Africa

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has lined up multiple new assignments and extensions of existing deals for its rig fleet off the coasts of Vietnam, Malaysia, Côte d’Ivoire (Ivory Coast), and the Netherlands.

about 2 months ago
Illustration; Source: North Sea Transition Authority (NSTA)
Business & Finance

North Sea well interventions unlock multi-million-barrel boost as exploration drilling dries up

The UK’s offshore energy regulator, the North Sea Transition Authority (NSTA), has revealed that 56 North Sea wells returned to production last year, with more cost-efficient well interventions helping operators deliver 16 million barrels of oil (boe) from shut-in wells on the UK Continental Shelf (

about 2 months ago
Shah Deniz; Source: BP Turan Drilling & Engineering
Business & Finance

BP entrusts Emerson with automation job on Caspian Sea gas project

UK-headquartered energy giant BP has tasked Emerson with the provision of automation and control systems for an unmanned offshore platform that will be part of the next development phase of a giant natural gas field in the Caspian Sea, described as one of the world’s largest gas-condensate fields an

about 2 months ago
Man looking at an offshore platform
Business & Finance

Expro scores ‘major’ North Sea plug and abandonment win in UK waters

U.S.-headquartered energy services provider Expro has lined up a new deal for a well abandonment program in the North Sea with an undisclosed oil and gas operator on the UK Continental Shelf (UKCS).

about 2 months ago
Scarabeo 8; Source: Saipem
Business & Finance

Aker BP and Equinor’s latest North Sea wildcat drilling yields no hydrocarbon find

Norway’s oil and gas company Aker BP and its compatriot state-owned partner, Equinor, have come up dry in their latest North Sea exploration well on the Norwegian Continental Shelf (NCS).

about 2 months ago
BOKA Alpine and BOKA Glacier tugs towed the FPSO Cidade de Niterói (MV18) from Brazil to Denmark; Source: Boskalis
Business & Finance

Boskalis’ vessel duo pulls off Brazil-to-Denmark tow of MODEC’s FPSO (Gallery)

Two ocean-going tugs from the fleet operated by Boskalis, a Dutch offshore services provider, have undertaken a floating production, storage, and offloading (FPSO) tow mission across the Atlantic.

about 2 months ago
Minesto's Dragon 4 tidal energy kite (Courtesy of Minesto)
Business & Finance

Dragon roars with record power in Faroe Islands: Minesto hits new tidal energy output milestone

Swedish tidal energy developer Minesto has revealed an electricity generation record in the Faroe Islands, where its tidal power plant set a new production record over the summer, after being upgraded with a new power-take-off (PTO) system that improves energy output throughout the tidal flow cycle.

about 2 months ago
MV Island Captain; Source: SLB
Business & Finance

Vessel upgrade on the agenda: SLB, Equinor strike multi-year deal to unlock Norway’s tight offshore reservoirs

U.S.-headquartered technology player SLB has signed off on a long-term stimulation assignment on the Norwegian Continental Shelf (NCS) with Norway’s state-owned energy giant Equinor.

about 2 months ago
Noble Interceptor rig; Source: Noble Corporation
Business & Finance

Noble’s 2014-built jack-up rig scoops up new P&A job with ConocoPhillips

Noble Corporation, a U.S.-based offshore drilling giant, has lined up a new assignment for a 12-year-old jack-up rig off the coast of Norway with ConocoPhillips Skandinavia, a subsidiary of the U.S.-headquartered energy company ConocoPhillips.

about 2 months ago