Business & Finance
Hornbeck Offshore emerges from bankruptcy
Hornbeck Offshore has emerged from bankruptcy under its joint prepackaged Chapter 11 plan of reorganization.
Lundin backs Ocean Harvesting Technologies
Swedish wave energy tech developer Ocean Harvesting Technologies has secured a €300,000 investment from Lundin Foundation. The investment matches a grant from the Swedish Energy Agency for the next development phase of the company’s InfinityWEC technology. InfinityWEC is a modular and scalable wave
Brazilian state signs offshore wind MoU with Mingyang
The Government of Ceará has signed a Memorandum of Understanding with China’s Mingyang Smart Energy to develop an ”offshore wind complex” in this Brazilian state. The MoU was signed by Ceará’s Governor Camilo Santana and Mingyang’s Vice President Larry Wang. No further details were given on the term
Iberdrola and Enea scrap Polish offshore wind pact
Spain’s Iberdrola and Poland’s Enea Group have decided to terminate exclusive talks on jointly pursuing offshore wind projects in Poland. Back in June, Enea and Iberdrola signed a Letter of Intent (LoI) to jointly develop offshore wind projects in the Polish Baltic Sea with a possible total capacity
Japanese trio to jointly develop Happo Noshiro offshore wind farm
Tohoku Electric Power and ENEOS Corporation have agreed to join Japan Renewable Energy Corporation (JRE) in the development of the Happo Noshiro offshore wind project. The project aims to construct and operate offshore wind farms with a maximum output capacity of 155 MW off Noshiro City and Happo to
JDC lands new job for jack-up rig in Japan
Japan Drilling Co. (JDC) has been awarded a contract by Mitsui Oil for the provision of a jack-up rig for drilling operations in Japan.
Aker Solutions wins North Sea extension with ConocoPhillips
Aker Solutions has secured a three-year contract extension to an existing framework agreement with ConocoPhillips in the North Sea.
Cloudberry gets all clear to buy Swedish offshore wind farm
Norwegian renewable energy company Cloudberry Clean Energy AS has received a 100 per cent acceptance for its offer to the shareholders in Scanvind2 AS. Scanvind2 AS is the holding company of the Rewind Vänern offshore wind project. The settlement of the shares in Scanvind2 AS will be a combination o
CNOOC brings online another project offshore China
CNOOC Limited has started production from the Nanbao 35-2 oilfield S1 area located offshore China.
Offshore wind project costs decrease with bespoke vessels and lower oil & gas activity
The rising number of purpose-built offshore wind vessels has a direct impact on the costs of offshore wind projects, as the sector is getting more room to use its own fleet instead of deploying vessels from the oil & gas industry, which can be costly if high oil price is driving increased oil & gas
Reach Subsea looks for Topaz Tiamat fill-in
Norwegian contractor Reach Subsea and P&O Maritime Logistics have agreed on a revised charter agreement for the vessel Topaz Tiamat. Under the new deal, Reach will operate the vessel for the remainder of the 2020 season on pay-as-you-go terms. Consequently, the Oslo-listed subsea player will demobil
Equinor suffers further delays on Martin Linge project as Covid-19 disrupts topside work
Norwegian energy giant Equinor has experienced a further delay in the development of its operated Martin Linge offshore field.
Ørsted gathers squad for second green bond in Taiwan
Ørsted has appointed BNP Paribas, Cathay United Bank and CTBC Bank as Mandate Lead Arranger’s for a potential TWD denominated green bond issuance in Taiwan. The green bond, set to be issued in Q4 2020, represents Ørsted’s second green bond offering in Taiwan. Ørsted intends to issue the new green bo
STATS anticipates steady year despite market conditions
UK-based pipeline technology specialist STATS has booked EBITDA earnings of £5.6 million, according to its annual accounts as at 31 December 2019. The company generated revenues of £39.1 million, down from £43.4 million in the prior-year comparable period. However, STATS noted its 2018 result includ