Business & Finance
ST Engineering, Nauti-Craft join forces on offshore wind CTVs
ST Engineering Marine and Nauti-Craft have signed a Letter of Intent (LOI) to jointly develop and supply new crew transfer vessels. Primarily, the two companies aim to explore the opportunity to incorporate Nauti-Craft’s marine suspension technology into vessels built by ST Engineering. As a further
Petronas books smaller profit after being hit by lower prices
Petronas saw its profit and revenues drop in the first quarter of 2020 after being hit by lower average realised prices for LNG, petroleum products, and crude oil & condensates.
PensionDanmark, PFA and SEAS-NVE ready to finance VindØ energy island
A consortium comprising PensionDanmark, PFA and SEAS-NVE said it was ready to finance the VindØ energy island in the North Sea. The consortium would initially contribute with up to DKK 400 million (EUR 53.6 million) to develop the project. Copenhagen Infrastructure Partners, an investment company be
Subsea Innovation bags Pipe-In-Pipe Waterstop deals
Subsea Innovation has won multiple contracts across the offshore oil and gas sector to supply Pipe-In-Pipe Waterstop SISeals. Specifically, over the past six months, Tekmar company landed four contracts to supply SIStop Waterstop Seals to two offshore contractors. Two of the contracts will also incl
Port of Melbourne Dredging Season Ends
The Port of Melbourne has just reported that their 2019/2020 dredging program is now complete. The company has presented a video about the dredging program, and how the dredging vessel, the Boskalis Magnor, is floated onto the semi-submersible Blue Marlin to be transported to its next destination. T
More red ink for Mermaid
Subsea and drilling services provider Mermaid has reported net loss of $10.3 million for the three-month period ended 31 March 2020. This result compares with loss of some $4 million in the corresponding period in 2019. The Singapore-listed company generated quarterly revenue of $22.2 million, versu
Hurricane suspends output guidance after Lancaster well shut-in
Hurricane Energy has shut-in one of two wells at the Lancaster Early Production System due to interference between two producing wells.
Russia to Put New Dredgers into Operation
The average age of dredging fleet in Russia is 36 years and the country urgently needs to put new dredgers into operation, Gennady Egorov, director of the St. Petersburg-based Marine Engineering Bureau, said in a recent statement. “As of today, the Russian technical fleet consists of 2,700 vessels.
Royal IHC Receives Order for Innovative CT Cutter Heads
Royal IHC has received an order for one of their new CT cutter heads with its innovative teeth technology. This 70CT cutter head is a heavy and robust piece of equipment with a total weight of almost 30 ton and is perfectly suitable for the hard soil that it will be applied in. Unique about [&hellip
Archer firms up North Sea job with TAQA
Archer has secured a formal contract award for the provision of a modular drilling unit and associated services from TAQA.
Coro Energy gets approval for Indonesian block entry
Coro Energy has received all necessary regulatory approvals for the transfer of a 15 per cent interest in the Duyung PSC, located offshore Indonesia.
Lorain Breakwater Repairs Underway
Construction work to repair the Lorain breakwater located in Lake Erie in the Port of Lorain, Lorain County, Ohio, is now underway, according to the Army Corps of Engineers, Buffalo District. USACE began repairs to the Lorain breakwater on May 12. As reported, the contractor, Great Lakes Dock and Ma
India’s ONGC signs renewable energy pact with NTPC
India’s Oil and Natural Gas Corporation Limited (ONGC) and NTPC Ltd. have signed a Memorandum of Understanding (MoU) to set up a joint venture company for the renewable energy business. As per the MoU, NTPC and ONGC will explore the setting up of offshore wind and other renewable energy projects in
Malaysian operator taps Tendeka to help boost output
Completions service company Tendeka will provide its inflow control technology to help increase production from Malaysian assets of an independent operator.