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Business & Finance

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Malaysian company looking to bypass global vessel shortage with new cable layer
Business & Finance

Malaysian company looking to bypass global vessel shortage with new cable layer

A Malaysia-headquartered provider of marine services to the offshore oil & gas industry has made a move that brings it a step closer to the construction of a multi-purpose cable laying vessel (CLV). Megamas Resources has signed a letter of intent (LoI) with German shipyard Lloyd Werft Bremerhaven to

about 1 year ago
FSRU Alexandroupolis; Source: Gastrade
Business & Finance

Greece’s FSRU going back to regasification work in August

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A floating storage and regasification unit (FSRU) is months away from returning to regasification duty.

about 1 year ago
A.P. Moller Holding
Business & Finance

A.P. Moller Holding now owns 93.4% stake in Svitzer

Danish investment company A.P. Moller Holding has completed its voluntary recommended purchase offer for the issued shares in compatriot towage services provider Svitzer.

about 1 year ago
Swiss set up firm with Timor-Leste to develop 250-kilometer natural gas pipeline
Business & Finance

Swiss set up firm with Timor-Leste govt to develop 250-kilometer natural gas pipeline

Switzerland-based StreamTec Solutions has signed a cooperation agreement with Timor-Leste’s national oil & gas company Timor Gás & Petróleo, E.P. (TIMOR GAP) and the Ministry of Petroleum and Mineral Resources (MPRM) to establish a company that will develop an underwater pipeline highway for the tra

about 1 year ago
Appraisal well was drilled by COSL Prospector rig; Source: COSL
Business & Finance

All systems go for Equinor’s drilling ops with COSL rig next month

Equinor has secured a drilling permit for an exploration well in the Barents Sea off the coast of Norway, which will be drilled next month with COSL Drilling Europe’s semi-submersible rig.

about 1 year ago
DEME acquires stake in German offshore wind drilling company
Business & Finance

DEME acquires stake in German offshore wind drilling company

DEME Group has acquired a 50% stake in Germany-based Bauer Offshore Technology, which provides drilling services for the construction of offshore wind foundations. DEME Group’s wholly owned subsidiary DEME Offshore Holding acquired a stake in the Schobenhausen-based company. Bauer Offshore Technolog

about 1 year ago
Fugro looking for new Group Director for Europe and Africa
Business & Finance

Fugro looking for new Group Director for Europe and Africa

Fugro has initiated a recruitment process to replace its Group Director for Europe and Africa, who has decided to step down in order to pursue other opportunities. The Dutch company reported at the beginning of this week that Erik-Jan Bijvank was stepping down as Group Director Europe and Africa to

about 1 year ago
Omega Subsea orders 12 new ROVs, 8 to back Solstad's operations
Business & Finance

Omega Subsea orders 12 new ROVs, 8 to back Solstad’s operations

Norwegian Omega Subsea has awarded compatriot remotely operated vehicle (ROV) manufacturer Kystdesign with a contract for 12 new ROVs, scheduled for delivery next year, of which eight shall be deployed to support Solstad Offshore. Out of the 12 systems, eight are set to support various vessel and su

about 1 year ago
FuelEU
Business & Finance

FuelEU Maritime: More expense or €250M gain for shipping?

Instead of acting solely as a cost driver, the FuelEU Maritime regulation could create a net financial gain, potentially around €250 million, according to a recent analysis by maritime data and compliance firm OceanScore.

about 1 year ago
€1B cable facility at Port of Tyne turning into reality as consultation starts
Business & Finance

€1B cable factory at Port of Tyne turning into reality as consultation starts

LS Eco Advanced Cables (LSEAC), a joint venture between Global InterConnection Group (GIG) and one of the subsidiaries of LS Group, a Korean cable manufacturer, has launched a five-week public consultation on plans for a £923 million subsea and onshore cable facility at the Port of Tyne in the UK. T

about 1 year ago
CLV Monna Lisa; Source: Prysmian
Business & Finance

Prysmian enriches subsea cable toolbox with vessel christening and expansion of Finnish factory

Prysmian has boosted its transmission business with the completion of the expansion works at its subsea power cable factory in Finland and the naming ceremony for the newest addition to its cable laying vessel (CLV) fleet.

about 1 year ago
Illustration; Source: Saipem
Business & Finance

Saipem, Baker Hughes, Halliburton and SLB collect almost $1.5 billion in profit

Against the backdrop of supply chain challenges, elevated prices, trade wars, and geopolitical and economic pressures, four oilfield services giants – Italy’s Saipem and U.S.-headquartered Baker Hughes, Halliburton, and SLB – have reported a combined profit of $1.49 billion in the first quarter of 2

about 1 year ago
FSRU Excelsior; Source: DET
Business & Finance

Germany’s next LNG terminal chapter nearly all-set to go live

Deutsche Energy Terminal (DET), part of the German Federal Ministry for Economic Affairs and Climate Action and a state-owned operator of four liquefied natural gas (LNG) terminals, is closing in on the start-up of Germany’s second terminal in Wilhelmshaven.

about 1 year ago
Deepsea Stavanger rig; Source: Odfjell Drilling
Business & Finance

Drilling ops yield fertile ground for carbon storage in North Sea

Equinor Low Carbon Solutions, a subsidiary of Norway’s state-owned energy giant Equinor, has drilled two appraisal wells in the Norwegian sector of the North Sea, which are said to possess suitable properties for the injection and storage of carbon dioxide (CO2).

about 1 year ago