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Business & Finance

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Greece’s Asso.subsea has launched a Marine Technology Business Unit, a division focused on advancing shipbuilding, innovation, and sustainability in offshore energy.
Business & Finance

Asso.subsea launches marine technology unit to advance subsea ops

Greece’s Asso.subsea has launched a Marine Technology Business Unit, a division focused on advancing shipbuilding, innovation, and sustainability in offshore energy. According to Asso.subsea, the unit will drive the development of marine assets, reinforcing the company’s fleet expansion strategy an

about 1 year ago
Scarabeo 8 rig; Source: Saipem
Business & Finance
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Aker BP comes up empty-handed at another prospect as drilling ops wind down

Aker BP has found no hydrocarbons in the Norwegian Sea, following drilling activities conducted by one of Saipem’s semi-submersible rigs off the coast of Norway.

about 1 year ago
Hywind Tampen wind farm (on the horizon) powers the Gullfaks and Snorre fields; Credit: Ole Jørgen Bratland
Business & Finance

Electrification tops Norway’s list of ‘most efficient’ oil & gas decarbonization tools

Equinor has portrayed electrification as the key measure to curb greenhouse gas (GHG) emissions from oil and gas production, paving the way to move forward with the energy transition journey to a low-carbon and zero-emission era.

about 1 year ago
FPSO Penguins; Source: Wood
Business & Finance

Multimillion-dollar job across Shell’s assets keeps Wood busy in UK

Wood is staying for two more years on duty with Shell, thanks to a contract extension, which covers the British oil major’s onshore and offshore portfolio in the United Kingdom.

about 1 year ago
Eidesvik, Agalas, Reach Subsea order new jointly owned construction support vessel
Business & Finance

Eidesvik, Agalas, Reach Subsea order new jointly owned construction support vessel

Three Norway-based offshore energy vessel and service providers, Eidesvik, Agalas and Reach Subsea, are building a new construction support vessel (CSV) for subsea and offshore wind operations. The vessel will be two-thirds owned by an entity owned by Eidesvik and Agalas, controlled by Eidesvik, and

about 1 year ago
Illustration; Source: NKT
Business & Finance

NKT patches up UK-Netherlands cross-border interconnector after power outage

Following a power outage, NKT has restored to working order a cross-border interconnector, which connects the electricity markets of the UK and the Netherlands via subsea cable.

about 1 year ago
Hydrogenious restructures management, secures over €17 million to scale up its technology
Business & Finance

Hydrogenious restructures management, secures over €17 million to scale up its technology

Hydrogenious LOHC Technologies has restructured its management and raised over €17 million to support the implementation of its planned projects and the further scaling of its technology.

about 1 year ago
Nord Stream 2 could be repurposes for hydrogen and LNG, says Swiss StreamTec Solutions
Business & Finance

Nord Stream 2 could be repurposed for hydrogen and LNG, says Swiss StreamTec Solutions

The Nord Stream 2 gas pipeline that connects Russia and Germany through the Baltic Sea suffered damage in September 2022 following an explosion. StreamTec Solutions, a company formed from the management team of the Nord Stream pipelines, has conducted research on the current condition of Nord Stream

about 1 year ago
Global Underwater Hub, Scottish Enterprise team up to support floating wind supply chain
Business & Finance

Global Underwater Hub, Scottish Enterprise team up to support floating wind supply chain

Global Underwater Hub (GUH) and Scottish Enterprise have signed a memorandum of understanding (MoU) to collaborate on establishing a subsea supply chain ecosystem as a global centre of excellence for floating wind. The partners said on February 18 that the floating wind market was estimated to be wo

about 1 year ago
Second H2Global tender worth €2.5 billion kicks off
Business & Finance

Second H2Global tender worth €2.5 billion kicks off

Germany-based Hintco, an intermediary for purchasing and selling green power-to-X (PtX) products within the H2Global funding mechanism, has launched the second tender worth €2.5 billion.

about 1 year ago
work-class remotely operateed vehicle (ROV), XLX EVO III Render. Source: FET
Business & Finance

UK firm rolls out new remotely operated vehicle for subsea operations

UK’s Forum Energy Technologies (FET) has introduced its ultra-heavy-duty work-class remotely operated vehicle (ROV) designed to enhance subsea operations with increased payload capacity and advanced control capabilities. According to FET, the XLX EVO III ROV features larger thrusters for improved th

about 1 year ago
Valaris DPS-5 rig; Source: Lukoil
Business & Finance

Valaris pensions off semi-sub trio, offloads jack-up, and picks up new drilling work for multiple rigs

Valaris has taken steps to optimize its rig fleet by deciding to put three semi-submersible units out of drilling work for good and divest a stacked jack-up rig. The rig owner has also won a new batch of drilling assignments spanning geographies.

about 1 year ago
Stella Maris CCS; Source: Altera Infrastructure
Business & Finance

Yinson Production broadens its carbon capture and storage horizons with Stella Maris CCS buy

Yinson Production has opened itself up to new decarbonization inroads with the acquisition of Norway-based Stella Maris carbon capture and storage (CCS) business that aims to unlock large-scale floating collection, transport, and offshore storage of CO2.

about 1 year ago
power system
Business & Finance

Next-gen power system for green shipping wins EU funding

The European Union has granted NOK 90 million (about €7.8 million) to the STEESMAT project, aimed at developing power distribution systems for zero-emission ships of the future.

about 1 year ago