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Business & Finance

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XOCEAN USV harvesting data on an Offshore Wind Farm in the UK North Sea
Business & Finance

XOCEAN closes €115 million financing to support ongoing growth

Ireland-based XOCEAN has secured €115 million in funding to support the growth in the offshore energy and civil hydrography sectors. The Irish ocean data company closed the financing round with support from S2G Ventures, Climate Investment (CI), Morgan Stanley’s 1GT fund, and CC Industries (CCI), a

about 1 year ago
North Sea ecosystem regeneration at heart of Dutch govt's new program
Business & Finance

North Sea ecosystem regeneration at heart of Dutch govt’s new program

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Human touch has taken its toll on the delicate North Sea ecosystem. With the growing pressure of climate change and demand for sustainable energy and food, this ecosystem keeps deteriorating. Preventing or preserving the North Sea now has an exclamation point. As a response, the Dutch Ministry of Ag

about 1 year ago
Subsea7 takes on FEED work to help unlock North Sea field’s oil & gas
Business & Finance

Subsea7 takes on FEED work to help unlock North Sea field’s oil & gas

Subsea7 has secured a contract with Norway’s state-owned energy company Equinor to deliver a study that will finalize the technical definition of the proposed subsea development at a field off Norway before the final investment decision (FID) is reached. Subsea 7 has been appointed to deliver a fron

about 1 year ago
Value Maritime, partners win funding for CCS aboard Samskip Kvitbjorn
Business & Finance

Value Maritime, partners win funding for CCS aboard Samskip Kvitbjorn

Dutch maritime technology company Value Maritime and its partners in the Maritime Efficient & Easy Carbon Capture (ME2CC) project have received funding from the Maritime Masterplan 2024 to advance the development, construction and demonstration of a compact, modular carbon capture system to be insta

about 1 year ago
Buzzard oil & gas field in the UK North Sea; Source: CNOOC Petroleum Europe
Business & Finance

UK hits Chinese oil & gas giant’s European arm with £125K fine in flaring and venting clampdown

North Sea Transition Authority (NSTA) has imposed a penalty of £125,000 on a European affiliate of China’s state-owned oil and gas giant for breaching its venting consent on two separate occasions at a field located 60 miles northeast of Aberdeen.

about 1 year ago
Denmark's tender invites applications for coastal CO2 storage exploration
Business & Finance

Denmark inviting applications for coastal CO2 storage exploration

The Danish Energy Agency is today opening the fourth round of tenders inviting companies to apply for permits to explore and use the subsurface for CO2 storage in three coastal areas in Denmark. The tender covers three areas near the Danish coast – Jammerbugt, Lisa and Inez, which are among several

about 1 year ago
Kongsberg Discovery expands with purchase of subsea monitoring provider
Business & Finance

Kongsberg Discovery expands with purchase of subsea monitoring provider

Norway’s Kongsberg Discovery, Kongsberg Gruppen’s business area for robotics and sensor technology, has acquired compatriot Naxys Technologies, a provider of underwater environmental monitoring solutions, specializing in recognizing the sound of oil & gas leaks. Formed in 1999, Naxys Technologies’ c

about 1 year ago
KCA Deutag
Business & Finance

Batch of onshore and offshore drilling jobs brings $513 million to KCA Deutag

KCA Deutag has landed new multimillion-dollar drilling assignments and extensions across the Middle East, Africa, Latin America, and the UK.

about 1 year ago
Deepsea Yantai rig; Source: Odfjell Drilling
Business & Finance

Rig duo from Odfjell Drilling’s fleet to conduct hydrocarbon exploration ops in Norway

The Norwegian authorities have handed out two drilling permits, which will enable the drilling of an exploration well in the Norwegian Sea and another one in the North Sea, using one of Odfjell Drilling’s semi-submersible rigs for the first one and one of the offshore drilling player’s managed rigs

about 1 year ago
DeepOcean to reunite with high-spec subsea vessel under new charter contract
Business & Finance

DeepOcean to reunite with high-spec subsea vessel under new charter contract

DeepOcean is reuniting with the high-spec subsea vessel Orient Adventurer under a charter contract with Taiwanese Dong Fang Offshore (DFO) which will see the vessel join the Norwegian company’s fleet from early 2026 until the end of 2027. DeepOcean will use Orient Adventurer primarily in Europe, but

about 1 year ago
COSL Innovator rig; Source: COSL
Business & Finance

Phased FPSO restart underway as COSL prepares to drill next well in North Sea

Serica Energy is progressing with a phased restart of oil and gas production at an FPSO in the North Sea, which is working on its oil and gas assets on the UK Continental Shelf (UKCS).

about 1 year ago
50Hertz finds contractors for boulder removal campaign
Business & Finance

Axess wins cable installation contract for 50Hertz German grid connection project

Axess Technologies has been awarded a cable installation contract by Greece-headquartered Hellenic Cables for the Ostwind 3 grid connection project, located in the German Baltic Sea. The scope of work comprises planning and pulling internal platform cables into the offshore high-voltage (HV) substat

about 1 year ago
FPSO EmissionZero; Source: SBM Offshore
Business & Finance

SBM Offshore takes slice of Ocean-Power ownership pie

On a mission to boost its decarbonization arsenal, SBM Offshore has become the owner of a minority stake in Norway’s Ocean-Power.

about 1 year ago
Danish companies set up autonomous subsea survey system partnership
Business & Finance

Danish companies unite to provide integrated autonomous subsea survey system

Danish maritime technology companies EIVA and Tuco Marine have set up a new partnership to provide integrated autonomous systems for inspecting subsea assets. The idea includes Tuco Marine’s ProZero 8m Naval Intelligence uncrewed surface vessel (USV) sailing to an area of interest and launching EIVA

about 1 year ago