Business & Finance
Porthos CCS project in play for €102M EU funding
The European Commission has proposed awarding 102 million euros in funding to the Porthos project. The Porthos project centres on the capture and storage of CO2 in the North Sea floor. If the European Parliament endorses this proposal, Europe will bear a substantial share of the investment in Portho
Australian tidal firm faces choppy waters
The company’s assets include two granted patents, and 14 patents in the review stage for the rotor technology that is registered in various jurisdictions. There are also four registered designs for the tidal turbine’s shape and specifications.
Harmony Link project lands €720 million
The EU has allocated close to €720 million from the Connecting Europe Facility (CEF) for the investments in power transmission infrastructure in Poland, Lithuania, Latvia and Estonia. The decision follows joint application made earlier this year by transmission system operators from Poland and the t
UK gov’t unveils £200 million port infrastructure fund
Ahead of the UK’s exit from the EU Customs union, the country’s government has launched a £200 million ($258 million) fund to enable ports to build new facilities and prepare for life outside the EU.
Offshore workers’ strike to hit production on six Norwegian fields
Strike action by Norwegian offshore oil and gas workers will affect production on six fields in the North Sea offshore Norway.
Aker BP all set to start production from Norwegian gas field
Aker BP is now ready to start production from Phase 1 of its operated Ærfugl gas and condensate field development located in the Norwegian Sea.
Maine getting $2 million offshore wind support
U.S. Department of Commerce is awarding a $2.166 million grant to support the development of the offshore wind industry in Maine. The grant, awarded by the Department’s Economic Development Administration (EDA), will be used to develop a roadmap for establishing an offshore wind industry in this U.S
Energean buys field support vessel for Karish project in Israel
Oil and gas company Energean has bought a field support vessel (FSV) to support its operations on the Karish field located offshore Israel.
Chart’s liquid hydrogen and LNG business to grow
Chart Industries, Inc. (Chart) and Plug Power Inc. (PLUG) have executed a master supply agreement for Chart to supply liquid hydrogen storage and transport equipment to Plug and its subsidiaries. “We are excited about this agreement between two strong and experienced companies in the hydrogen value
Pandion to enter Calypso prospect after swapping license interests with ConocoPhillips
Pandion Energy has entered into an agreement with ConocoPhillips to swap interests in licenses located in the North Sea and the Norwegian Sea, respectively.
Margareth Øvrum joins TechnipFMC board
London-based TechnipFMC has appointed Margareth Øvrum, executive vice president of Equinor, Development and Production Brazil, to its board of directors, effective 1 October 2020. Øvrum, 62, has over 38 years of experience at Norwegian energy company Equinor (formerly Statoil). She will retire from
Konecranes to merge with Cargotec
Finnish engineering majors Konecranes and Cargotec have signed a combination agreement and a plan to combine the two companies through a merger. The proposed combination will be implemented as a statutory absorption merger whereby Konecranes will be merged into Cargotec. Upon completion of the merge
Maersk Drilling lands new North Sea gig with Dana
Maersk Drilling has secured a contract from Dana Petroleum to drill two development wells as part of Project Unity in the Dutch sector of the North Sea.
New President and CEO to take the helm at Wärtsilä
The Board of Directors of technology company Wärtsilä has appointed Håkan Agnevall as the new President and CEO for Wärtsilä Corporation. Agnevall will commence in his role no later than in April 2021. He will succeed Jaakko Eskola, who will continue as a senior advisor to the company’s Board of Dir