Business & Finance
FPP pockets €17.7M for floating wind and wave scheme off Canary Islands
Danish company Floating Power Plant (FPP) has secured €17.65 million in R&D tax credits for an offshore floating wind and wave project off the coast of the Canary Islands.
FAR shareholders back Sangomar stake sale to Woodside
Shareholders of Australia’s FAR Limited have approved the sale of the company’s Senegal RSSD project, which contains the Sangomar field, to Woodside.
Valaris books first-quarter loss, looks to emerge from Chapter 11
Offshore drilling contractor Valaris booked a $910 million loss in the first quarter of the year but hopes to re-emerge from bankruptcy sooner rather than later.
Kriegers Flak OWF generating electricity for Danish households
The Kriegers Flak offshore wind farm in the Baltic Sea, where half of the turbines have been installed so far, is already generating electricity for Danish households and has contributed to Vattenfall’s Q1 2021 results. The developer reported a decrease in electricity generation in the first quarter
Eidesvik sells platform supplier outside oil and gas sector
A subsidiary of Norwegian offshore vessel owner Eidesvik Offshore has sold and delivered one of its platform supply vessels (PSVs).
Bristow scores contract extension with Aker BP in Norway
Offshore helicopter operator Bristow Group has won a contract extension with Aker BP to support air transportation crew change services for their operations on the Norwegian continental shelf.
Hess Corporation swings to first-quarter profit
Oil and gas company Hess Corporation has reported a net income of $252 million in the first quarter of 2021, a completely different picture than the one from the first quarter of 2020 when the company had a net loss of $2,4 billion.
Lamprell wins drilling jackets deal with Saudi Aramco
Offshore construction specialist Lamprell has been awarded an engineering, procurement, construction and installation (EPCI) contract by Saudi Aramco.
Kraken Robotics picks up $1.2M purchase order from new AUV customer
Canadian marine technology company Kraken Robotics has secured a purchase order for its sensors and batteries totalling over $1.2 million.
Wintershall Dea breaks quarterly production record. Net debt down by a third
German oil and gas company Wintershall Dea has had a record quarterly production in the first quarter of 2021 with 659,000 barrels of oil equivalent a day and reduced its net debt by almost a third.
Oceaneering nets over $135 million in subsea contracts
Subsea engineering company Oceaneering International has through its Manufactured Products segment secured multiple contracts during the first four months of 2021, with anticipated aggregate revenue in excess of $135 million.
BP triples first-quarter profit to $2.6 billion on strong oil, gas trading
Oil major BP has tripled its quarterly profit due to exceptional gas marketing, significantly higher oil prices, and higher refining margins.
Vaalco in talks to use FSO on Etame field off Gabon
Houston-based Vaalco Energy has signed a non-binding letter of intent (LOI) with Omni Offshore Terminals to provide and operate floating storage and offloading (FSO) unit at the Etame Marin field offshore Gabon.
Nordic partnership targets oil and gas platforms emissions cut using wave tech
Oil and gas company Lundin Energy Norway has partnered up with Swedish wave energy developer Ocean Harvesting Technologies to explore the potential of using wave energy to decarbonise the production of oil and gas on offshore platforms.