Business & Finance
In focus: Carbon capture and storage as key element in achieving decarbonisation
In this edition of In focus, we’ll be looking at ways through which the offshore energy sector is working to reduce carbon emissions.
Seadrill JV lands 12-well drillship contract in Angola
A new, twelve-well drillship contract has been awarded to a joint venture between Seadrill Limited and Angola’s oil and gas player Sonangol.
Union working to avoid downsizing of 200 rig workers
A Norwegian union is working to avoid the downsizing of 200 workers of the West Mira rig following a recent contract termination.
Spirit gets life extension for North Sea field
Spirit Energy has received approval from Norwegian authorities for a life extension of its Vale gas field located offshore Norway.
Equinor funding shallow-water floating wind mooring project in U.S.
The U.S. National Offshore Wind Research and Development Consortium (NOWRDC) is funding a project developing a shallow-water floating offshore wind concept, with cost-share being provided by Equinor. The team behind the project includes the University of Massachusetts, Amherst (UMass) as the main co
Kraken Robotics expects 100% revenue growth in 2021
Canadian Kraken Robotics is expecting a revenue of $24 million to $28 million for the year ending on 31 December 2021, which would represent a more than 100% growth compared to $12.3 million in 2020. The growth is due to recent contract wins for KATFISH 180 towed sonars, as well as ALARS for the Dan
NYK 1st Japanese shipping company to join ship recycling transparency initiative
Japan-based shipping company, Nippon Yusen Kaisha (NYK Line), has joined the Ship Recycling Transparency Initiative (SRTI), an information disclosure platform hosted by the Sustainable Shipping Initiative (SSI).
IOG supports research to test carbon storage sites in North Sea
IOG is supporting research that will identify, examine, and test carbon storage sites in the Southern North Sea.
Upstream spending cut by $285bn as Covid-19 takes its toll, Rystad says
The toll of the Covid-19 on upstream investments in the first two years of the downturn is estimated at $285bn, Rystad Energy reports.
Half of Boskalis Q1 offshore energy orders came from wind sector
Boskalis has reported a 10 per cent increase in the order book of its Offshore Energy division in the first quarter of the year (compared to the end of 2020), with around 50 per cent of new orders coming from the offshore wind sector. The first quarter at the company’s Offshore Energy division proce
FAR ‘disappointed’ over share trading reinstatement refusal
Australia’s FAR Limited has expressed its disappointment with the Australian Securities Exchange’s (ASX) refusal to reinstate the trading of the company’s shares.
Australian LNG exports to China remain strong, despite ongoing dispute
Australian liquefied natural gas (LNG) exports to China remain intact for now, despite the ongoing economic tensions between the two countries.
Chevron shuts in Tamar gas field amid unrest in Israel
Chevron has shut down production at its Tamar field located offshore Israel amid escalating violence and tensions in the region.
Financing for El Salvador’s FSRU wrapped up
Invenergy and BW LNG have closed a $128.3 million financial package with IDB Invest to finance the BW Tatiana FSRU component of the Energía del Pacífico LNG-to-power project in El Salvador.