Business & Finance
OPT lands new Aspire Capital deal
Ocean Power Technologies (OPT) has executed a new common stock purchase agreement with Aspire Capital Fund. The new deal will sea OPT sell up to $12.5 million in common stock to Aspire Capital over a term of 30 months. This follows a $10-million purchase agreement from October last year. OPT also in
Global Marine Group sets up new division – OceanIQ
Subsea cable installation and maintenance player Global Marine Group has launched OceanIQ, the fourth business unit in its engineering portfolio. OceanIQ delivers subsea cable data, survey, route engineering and consultancy services for telecom and power cable route planning projects. Its team also
PetroNor retains license off Gambia in out-of-court deal
Oil and gas company PetroNor has reached a mutual agreement with the Government of The Gambia to settle its arbitration related to the A1 and A4 licenses.
Rystad Energy: Less is more if using 14 MW offshore wind turbines
A recent analysis from Rystad Energy has shown that using 14 MW wind turbines can reduce overall costs of large-scale offshore wind farms, even though these wind turbines themselves are more expensive. Rystad Energy looked at using next-generation turbines of various sizes for a 1 GW offshore wind f
OSM to acquire SeaTeam from Frontline, Golden Ocean
Norwegian maritime services provider OSM Maritime (OSM) revealed that it is in final negotiations to acquire SeaTeam Management from shipping companies Frontline and Golden Ocean Group Limited after reaching a preliminary agreement.
Eneco joins Amsterdam IJmuiden Offshore Ports association
Eneco has joined the Amsterdam IJmuiden Offshore Ports (AYOP), an association focused on the offshore energy sector which gathers more than 85 companies and organisations active in the North Sea Canal region. According to AYOP’s press release from 21 September, the membership will provide Eneco with
Mermaid enters Thai decommissioning joint venture
Offshore vessel provider Mermaid Maritime has entered into a joint venture with Meitech to enhance offshore transport, installation, and decommissioning capabilities in Thailand.
Odfjell gets early termination and new gig for semi-submersible
Offshore driller Odfjell Drilling has received a notice of early termination from oil major BP for the charter of the Deepsea Aberdeen rig but, concurrently, secured work for the rig with Wintershall Dea.
South Korea’s SeAH to build monopile factory in UK
SeAH has signed an exclusive Memorandum of Understanding with Able UK to use the Able Marine Energy Park development to establish a monopile production facility on the South Bank of the Humber. The South Korean steel tube manufacturer’s facility could potentially create around 400 jobs. Currently, t
Solstad Offshore receives early charter termination for ‘Normand Maximus’
Norwegian vessel owner Solstad Offshore has received a notice of early termination of the charter party for the one of its vessels from Italian offshore contractor Saipem.
Ocean Installer UK gets new managing director
Subsea contractor Ocean Installer UK has appointed Robert (Bob) Gillespie as the new managing director. Specifically, Gillespie will lead the company’s UK office based in Aberdeen. The company said it is confident Gillespie has the right attributes for this vital role in a critical region. Kevin Mur
Mermaid and ARV forge subsea alliance in Thailand
AI and Robotics Ventures (ARV), a subsidiary of PTT Exploration and Production, and Mermaid Subsea Services (Thailand) have formed a joint venture called ZeaQuest to develop subsea AI and robotic technologies. The aim is to provide underwater IRM services to oil & gas and renewable energy sectors in
Wellesley bites the dust in Norwegian well
Oil and gas company Wellesley Petroleum has drilled a dry well north of the Gjøa field offshore Norway.
UK needs to electrify oil & gas platforms to reach net-zero goal, Rystad says
The British government has set a goal to reach net-zero emissions by 2050 and electrification of oil and gas platforms on the UK continental shelf (UKCS) should play an important role in efforts to achieve this target.