Business & Finance
New intertidal wind project in the making in Vietnam
China Gezhouba Group Co. (CGGC) International and Vietnam Construction and Trading Corporation signed an EPC contract on 11 November for the 350 MW Ca Mau 1 offshore wind project in Vietnam. The project is located in the tidal flat area of Sanjiang Dongshe in Nangen County, Ca Mau Province. The tota
Eco Wave Power cuts loss
Swedish company Eco Wave Power has reported a decrease in losses for the third quarter of 2020 as opposed to the same period a year earlier.
BPC sees increase in costs of Perseverance #1 well over virus mitigation measures
London-listed oil company Bahamas Petroleum Company (BPC) has raised the cost estimates for the drilling operation of its Perseverance #1 off the Bahamas citing COVID-19 mitigation measures.
KSOE wins DNV GL’s AIP for Solid Oxide Fuel Cell
Korea Shipbuilding & Offshore Engineering (KSOE) has secured an Approval in Principle for its Solid Oxide Fuel Cell (SOFC) power generation system design from the DNV GL classification society. The presentation ceremony was held at the KSOE office in Ulsan, South Korea on November 23. In the power g
DNV GL suspends Nord Stream 2 work dreading U.S. sanctions
Classification society DNV GL has suspended work on Gazprom’s Nord Stream 2 gas pipeline project over fears of sanctions by the United States.
EU awards SATHScale floating wind project with € 2.4 million
The European Commission has awarded Saitec Engineering with € 2.4 million funding under the Blue Economy Window call. The funding will support the SATHScale project in bringing to market the SATH floating wind technology through scaling-up the prototype from the technology validation and demonstrati
Cairn Energy picks new chairperson
A new chairperson of oil and gas company Cairn Energy would join the company with effect from 1 January 2021.
Talos struggling to reach steady production at Gulf of Mexico field
Talos Energy has encountered difficulties in reaching stabilized production from the Bulleit field located in the U.S. Gulf of Mexico.
Repsol reveals new strategic plan to accelerate energy transition
Spanish oil company Repsol has unveiled its 2021 – 2025 strategic plan which will advance its net-zero emissions objective.
Keppel wins $74.7 million FPSO conversion deal
Singapore’s offshore rig and vessel builder Keppel Offshore & Marine Ltd (Keppel O&M) has won a contract from a repeat customer worth about S$100 million ($74.7M) for the fabrication and integration work on a floating production storage and offloading vessel (FPSO).
GIEK backs Aibel and OHT on Dogger Bank A and B
Norwegian state-backed Export Credit Guarantee Agency GIEK is providing loan guarantees for contracts awarded to Aibel and OHT for the UK’s Dogger Bank A and B offshore wind project, for which Equinor and SSE have now reached financial close. Aibel has won a contract to deliver two converter platfor
BP and Ithaca produce first oil from North Sea project
BP and Ithaca Energy have started production from the Vorlich development, in the UK North Sea, which was the target of environmental protests back in 2019.
Dogger Bank owners close largest ever offshore wind project financing
Equinor and SSE have reached financial close on the first two phases of the Dogger Bank wind farm project, representing in aggregate the largest offshore wind project financing to date globally. The 3.6 GW Dogger Bank offshore wind project is divided into three 1.2 GW phases, Dogger Bank A, Dogger B
Jersey gains full control of North Sea asset with CIECO V&C buy
Jersey Oil & Gas has entered into a conditional sale and purchase agreement to acquire CIECO V&C, which will give it full ownership of a North Sea licence.