Business & Finance
Able UK gets government funding for offshore wind upgrade
The UK government has selected Able UK’s Able Marine Energy Park (AMEP) for funding under the Offshore Wind Manufacturing Investment Scheme, which will ensure the port infrastructure can accommodate next generation offshore wind activities. “The government will make an offer of support, in principle
Aker Solutions hired to modify Åsgard B for production boost
Aker Solutions has won a substantial contract from Equinor for modifications on the Åsgard B gas and condensate platform to enable increased production.
Responsible ship recycling initiative welcomes SEB
Swedish financial services group SEB has joined the Responsible Ship Recycling Standards (RSRS), a joint bank initiative for ensuring environmentally and socially responsible dismantling and recycling of ships.
Offshore wind industry poised to invest $ 140 billion in US East Coast by 2035
More than 40 GW of offshore wind capacity is expected to be installed off the U.S. East Coast by 2035 and the industry could invest $ 140 billion to establish and build out its supply chain, install equipment, and operate the wind farms. This is according to the latest report from BVG Associates (BV
Diamond Transmission Partners buys Hornsea One link
Diamond Transmission Partners has signed an agreement with the owners of the Hornsea One offshore wind farm to acquire the project’s transmission assets. The transmission assets hold an asset value of GBP 1.175 billion and include the onshore substation, export cables, the offshore reactive compensa
Offshore project commitments poised for new record, Rystad says
Offshore project commitments are set to reach a new record in the five-year period towards 2025, a Rystad Energy report says.
SK Group in $16.4 billion hydrogen push
South Korea’s conglomerate SK Group has set out an 18 trillion won ($16.4 billion) plan of investment in hydrogen projects.
Relationship with Hurricane ‘deteriorated dramatically’, investor says
Activist investor Crystal Amber, which holds more than 11 per cent of Hurricane Energy, stated it would take “appropriate action” to maximise Hurricane’s potential.
Mixed results for Shelf Drilling rig fleet
Shelf Drilling has revealed a mixed bag of results for its jack-up rig fleet with several of its rigs starting new contracts, some getting extensions, and some terminations.
UK sets up new floating wind funding scheme
The UK government is inviting parties to submit their interests in a new funding scheme to support the development of technologies and products for the floating offshore wind industry. The Floating Offshore Wind (FOW) Demonstration Programme seeks the best ideas across technology areas and the grant
BW Group, Miros form vessel performance optimization JV
Singapore-based gas shipping giant BW Group and technology company Miros are launching Miros Mocean, a joint venture focusing on optimizing vessel performance. The new company will combine BW Group’s maritime expertise with Miros’ radar technology providing precise data about the operating condition
DNV backs PGE in offshore wind negotiations with Ørsted
DNV has advised PGE Baltica on the setup of a joint venture with Ørsted dedicated to developing two offshore wind projects in the Polish Baltic Sea. DNV provided technical and commercial services related to setting up the joint venture for developing, building, and operating the 1.5 GW Baltica 2 and
Energy companies invest £1.6M in wave-powered demo for subsea projects
Scottish wave power company Mocean Energy and energy storage developer EC-OG have joined forces with Chrysaor, Modus, OGTC and Baker Hughes to build and demonstrate a wave-powered renewable energy system for running subsea equipment.
ExxonMobil comes up dry in Guyana wildcat
Oil major ExxonMobil has failed to find commercial hydrocarbons at the Bulletwood-1 wildcat well in the Canje block located offshore Guyana.