Business & Finance
The Borssele series: Making of
Over the next few months, Offshore Energy will be taking a closer look into the now operational Borssele offshore wind projects: Borssele 1 & 2, Borssele 3 & 4, and the Borssele innovation site. The three projects – one developed by Ørsted, one by the Blauwwind consortium, and one by the Two Towers
Fincantieri expects to return to growth trajectory in 2021
The gradual resumption of cruise operations is expected to significantly ramp up ship production this year and curb the negative impact of the coronavirus pandemic on the sector, according to Italian shipbuilder Fincantieri.
Offshore worker dies in Gulf of Mexico well incident
An offshore worker has died following an incident with a shut-in well in the U.S. Gulf of Mexico.
TGS sees revenue increase in Q1 2021, lower segment numbers
TGS-NOPEC Geophysical Company (TGS) has reported a revenue of $186 million in the first quarter of 2021, an increase of 256% compared to $52 million in Q1 2020. EBITDA was $162 million and the operating result was $69 million, compared to $26 million and $-58 million, respectively, in the first quar
California earmarks offshore wind, green hydrogen money in new budget
California is set to allocate USD 20 million to support offshore wind development in its 2021-2022 budget, on which the state government is currently working. Governor Gavin Newsom presented the US state’s revised 2021-2022 budget on 14 May, before the final budget is established this Summer. The ‘M
ASCO to provide logistics support for IOG’s Core Project Phase 1
Global logistics and materials management provider ASCO has been contracted to provide logistics and supply base services for IOG’s Core Project Phase 1 in the Southern North Sea (SNS).
Ingine grabs €2.9M wave power investment from Korea Development Bank
South Korea-based wave energy developer Ingine has secured €2.9 million from the state-owned Korea Development Bank to advance its wave energy business and technology.
Cornell: LSF, VLSF add $20,000 to annual ship operation costs
The introduction of the IMO rules last year to reduce ship sulphur emissions has resulted in a significant hike in operational expenditure for ship managers, with the use of low and very low sulphur fuel potentially resulting in system and engine damage, according to a recent webinar.
Rockhopper to resolve Ombrina Mare arbitration in July
Oil and gas company Rockhopper Exploration has received notice that a final decision in its arbitration against Italy over the Ombrina Mare Field in the Adriatic Sea could be made in July.
IOG awards Core Project Phase 1 duty holder role to ODE
UK gas company IOG has awarded the Phase 1 duty holder contract for the installation and pipeline operator as well as facilities operations and maintenance to ODE Asset Management (ODE AM).
HMM in clover as it posts record operating profit
South Korean shipping major HMM reported its highest ever operating profit for the first quarter of 2021 amid higher freight rates and increased container handling volumes. The operating profit was KRW 1019.3 billion with a margin of 42% in Q1 2021 against a loss of KRW 2.0 billion ($ 1.7 million) i
Total hands out Tyra commissioning contract
A consortium of Actemium and Semco Maritime has been awarded the provision of a commissioning services contract for the Tyra Redevelopment.
Maersk Drilling gets rid of two jack-ups, wins new rig gig
Maersk Drilling is getting rid of two jack-up drilling rigs in addition to securing a new job for another one of its jack-ups.
U.S. weekly offshore rig count up to 15
The number of offshore rigs in the U.S. increased by two units over the last week, according to a Friday report by Baker Hughes.