Business & Finance
Cairn to farm into five Deltic Energy’s North Sea licenses
Oil and gas company Deltic Energy has entered into a binding, conditional farm-out agreement concerning five of its Southern North Sea gas licences with Cairn Energy.
TechnipFMC, Wilhelmsen, NorSea investing in deep-sea mining
TechnipFMC, Wilhelmsen and NorSea are investing in Norwegian deep-sea mining company Loke Marine Minerals (Loke) to enable the energy transition.
Hapag-Lloyd reveals strong performance in half-year results
Germany’s largest container liner shipping company Hapag-Lloyd enjoyed earnings growth in the first half of 2021 which was driven by strong demand and higher freight rates.
Repsol cleared to start production from Yme field offshore Norway
The Norwegian authorities have granted Repsol the consent for the start-up of the Yme field in the North Sea, 20 years after the last time the field was on stream.
Borr Drilling scores more work for Gunnlod jack-up rig
Offshore drilling contractor Borr Drilling has secured a letter of award (LOA) for one of its jack-up drilling rigs from an undisclosed operator in Malaysia.
CK Hutchison buys Swire’s 50 pct stake in Hongkong United Dockyards
Hong Kong-based CK Hutchison Holdings Limited said that the CK Hutchison Group has entered into a binding agreement with holding company Swire Pacific Limited to acquire 50% interest in Hongkong United Dockyards Limited (HUD) from Swire Pacific.
New joint industry project targets simplified seabed investigations in offshore wind
Six industry partners have kicked off a joint industry project to develop software that integrates all GIS, hydrographic, geophysical, geological, and geotechnical data types and contractor interpretations into one software environment. The software is being developed by Norway’s Geocap, while other
Gambia: BP agrees to pay $29.3 million no-drill fee
Oil major BP has agreed to settle a $29.3 million outstanding commitment to drill an exploration oil well in Gambia’s offshore A1 block.
SMD and SEAJET Systems partner up for subsea technology
SEAJET Systems (SJS) has signed a manufacturing partnership agreement with Soil Machine Dynamics (SMD) for subsea excavation and trenching technology. The partnership will see SMD exclusively build, test and commission the fleet of CFE equipment in its production facility in Wallsend, Newcastle upon
HHI seeks $930M IPO to fund eco-friendly ship tech
South Korean shipbuilder Hyundai Heavy Industries (HHI) has decided to raise capital amounting up to KRW 1.08 trillion (about $932.8 million) in an effort to fund the development of eco-friendly vessel technologies.
Marine Power Systems collects double crowdfunding boon
Welsh marine energy company Marine Power Systems (MPS) has completed its crowdfunding campaign on Crowdcube, raising over £4 million to further advance its offshore renewable energy technology.
Tower Resources farms out Thali PSC to Beluga Energy
Africa-focused oil and gas firm Tower Resources has signed an agreement to farm-out a 49 per cent non-operating working interest in its Thali PSC offshore Cameroon to Beluga Energy.
Lime Petroleum farms into two Aker BP’s North Sea licenses
Lime Petroleum, a subsidiary of Rex International, has signed an agreement with Aker BP to acquire 20 per cent interests in the PL867 and PL867B licenses in the North Sea.
WIND buys Offshore Cable Equipment
The Netherlands-headquartered WIND has completed the acquisition of Offshore Cable Equipment (OCE). According to WIND, OCE is a rental/retail company that operates five offshore subsea cable carousels from 300 mt up to 7,000 mt capacity. OCE is set to further develop the engineering of carousels and