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Business & Finance

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Development and operation plan handed in for Northern Lights expansion
Business & Finance

Development and operation plan handed in for Northern Lights expansion

Some five days after taking the final investment decision (FID), Northern Lights joint venture (JV) partners Equinor, Shell and TotalEnergies have submitted the plan for development and operation (PDO) to the Norwegian Ministry of Energy for the expansion of the namesake CO2 transport and storage de

about 1 year ago
UK firm picks its first international franchisee for fully autonomous USV charter fleet
Business & Finance
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UK firm picks its first international franchisee for fully autonomous USV charter fleet

UK-headquartered Zero USV has named Leeway Marine as its first international franchisee for its uncrewed surface vessel (USV) charter fleet in North America. According to Zero USV, Oceanus12 is designed for long-distance over-the-horizon operations and is mission agnostic, allowing a wide range of p

about 1 year ago
Day rate contracts in South America and Africa come along to Argeo vessels
Business & Finance

Day rate contracts in South America and Africa come along to Argeo vessels

Norwegian subsea services provider Argeo has signed new contracts under which its two vessels will be deployed offshore South America and Africa on oil & gas projects. The contracts will see Argeo Searcher perform autonomous underwater vehicle (AUV) survey work in South America and Argeo Venture AUV

about 1 year ago
Ocean Harvesting Technologies opens financing round to advance wave energy tech
Business & Finance

Ocean Harvesting Technologies opens financing round to advance wave energy tech

Sweden’s Ocean Harvesting Technologies has launched a €200,000 financing round to support further development of its InfinityWEC wave energy converter (WEC) in 2025. The move is part of a larger €700,000 capital requirement for 2025-2027. InfinityWEC is currently being developed under two EU-funded

about 1 year ago
'Sizeable' Northern Lights Phase 2 contract to keep Subsea7 busy for next two years
Business & Finance

Subsea7 and Aker Solutions tasked with work for Northern Lights Phase 2

Norway’s state-owned Equinor, acting as the technical service provider (TSP) for the project, has awarded Subsea7 and Aker Solutions with contracts for the second phase of the Northern Lights CO2 transport and storage development in Norway, after the final investment decision (FID) was announced las

about 1 year ago
Gibraltar wave power plant (for illustration purposes); Source: Eco Wave Power
Business & Finance

Eco Wave Power adds Vistra Energy board member to its advisory board

Wave energy developer Eco Wave Power has appointed Vistra Energy board member Hilary E. Ackermann to its advisory board. According to Eco Wave Power, Ackermann, also a former Chief Risk Officer at Goldman Sachs Bank USA, brings experience in risk management, corporate governance, and clean energy tr

about 1 year ago
PSV BOS Prelude; Credit: Britoil
Business & Finance

Britoil’s 2010-built vessel bolsters German player’s North Sea energy projects’ supply ops

SeaRenergy has strengthened its offshore supply capabilities in the North Sea, thanks to a long-term charter agreement with Britoil Offshore Services for a 15-year-old platform supply vessel (PSV), which will support the installation and commissioning of converter platforms and be available for any

about 1 year ago
IKM Group to employ up to 70 persons as part of contract for Norway's PRSI Pool
Business & Finance

IKM Group to employ up to 70 persons as part of contract for Norway’s PRSI Pool

Norwegian state-owned energy firm Equinor has awarded Sola-based IKM Group with a contract for the provision of services for the Pipeline Repair and Subsea Intervention (PRSI) Pool, with about 50-70 people expected to be employed for the work. The PRSI Pool includes 23 companies covering their offsh

about 1 year ago
North Sea; Source: OEUK
Business & Finance

$452 billion shot in UK economy’s arm on the table with oil & gas and other homegrown energy

With forecasts indicating that the United Kingdom (UK) will need billions of oil and gas barrels by 2050 amidst the ongoing economic challenges and energy market headwinds and tailwinds, Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has outlined in its new repor

about 1 year ago
Fugro vessel safe in port after grounding in Italy, no harm made
Business & Finance

Fugro vessel safe in port after grounding in Italy, no harm made

A 42-meter-long geophysical survey vessel owned by Fugro that ran aground in Italy on Saturday, March 22, had been safely brought to port, the Dutch company reported. The Fugro Mercator ran aground on the north coast of Elba, Italy, when it went looking for shelter due to deteriorating weather condi

about 1 year ago
DMEC-led accelerator program opens first support call for offshore energy innovations
Business & Finance

DMEC-led accelerator program opens first support call for offshore energy innovations

The Dutch Marine Energy Centre (DMEC)-led Offshore Accelerator for System Integration and Storage (OASIS) project has launched the first support call for offshore energy innovations. The initiative aims to support innovative companies in the North Sea region by accelerating their growth and enhancin

about 1 year ago
A large vessel at sea
Business & Finance

ADNOC’s African footprint grows with acquisition of stake in block off Mozambique

Portugal’s oil and gas company Galp has completed the sale of its upstream assets offshore Mozambique to XRG, a wholly-owned subsidiary of the UAE’s Abu Dhabi National Oil Company (ADNOC).

about 1 year ago
Spanish subsea services provider enhances two vessels with upgrades
Business & Finance

Two upgraded Spanish vessels back at work

Spanish maritime survey and ROV services operator ACSM has put its 25-year-old offshore support vessel (OSV) Nautilus back to service after a couple of months of upgrade work. The 73-meter-long vessel completed its upgrading phase at the shipyard Viana do Castelo in Spain, after which it spent a few

about 1 year ago
With phase 1 fully booked, Northern Lights partners take €662M FID for second phase
Business & Finance

With phase 1 fully booked, Northern Lights partners take €662M FID for project expansion

Northern Lights joint venture (JV) partners Equinor, Shell and TotalEnergies have made a final investment decision (FID) to progress phase two of the namesake CO2 transport and storage development. This will increase the project’s transport and storage capacity from 1.5 million to over 5 million ton

about 1 year ago