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Business & Finance

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Prigorodnoye production complex at Sakhalin II project; Source: Gazprom
Business & Finance

Gazprom greenlights $15 billion investment plan to bolster gas production capacity

Russia’s giant Gazprom has set its investment program and budget for next year at RUB 1.52 trillion (almost $15.22 billion), a drop of about 7% compared with the planned spending of RUB 1.64 trillion (nearly $16.43 billion) for 2024.

about 1 year ago
Scottish startup inks 'landmark' deal for EU’s first full-scale CO2 storage project
Business & Finance

Scottish startup inks ‘landmark’ deal for EU’s first operational CO2 storage facility

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Scottish startup The Carbon Removers has secured what it says is a landmark deal for CO2 storage as part of Project Greensand in the Danish North Sea. The Carbon Removers announced the agreement on December 10 to permanently sequester 50,000 tonnes of CO2 per year in a depleted oil field, 1,800 mete

about 1 year ago
Judy platform; Source: Harbour Energy
Business & Finance

North Sea drilling ops lead to signs of hydrocarbons in UK waters

Harbour Energy has confirmed the presence of hydrocarbons at its recently drilled prospect in the Central North Sea on the UK Continental Shelf (UKCS).

about 1 year ago
North Sea TSO on the lookout for cable repair provider
Business & Finance

ABL bags contract for TenneT’s 2 GW Dutch offshore grid connections

The Dutch/German offshore transmission system operator (TSO) TenneT has awarded ABL a contract to provide marine warranty survey services for the installation of three 2 GW export cable systems in the Netherlands. Under the contract, ABL will work on the IJmuiden Ver Beta, IJmuiden Ver Gamma, and Ne

about 1 year ago
Halliburton to acquire Optime Subsea
Business & Finance

Halliburton to acquire Optime Subsea

U.S.-headquartered oilfield services giant Halliburton is set to purchase Optime Subsea, a Norwegian provider of subsea solutions for the oil & gas industry, following the signature of a definitive agreement. According to Optime Subsea, the acquisition will integrate its umbilical-less technology in

about 1 year ago
Climate Fund Managers acquires 24% stake in Hyphen Hydrogen Energy
Business & Finance

Climate Fund Managers acquires 24% stake in Hyphen Hydrogen Energy

Climate Fund Managers (CFM) has completed the acquisition of a 24% equity stake in Hyphen Hydrogen Energy.

about 1 year ago
Equinor to charter two electric hybrid newbuilds from Bergen Tankers
Business & Finance

Equinor to charter two electric hybrid newbuilds from Bergen Tankers

Norway-based shipping company Bergen Tankers and compatriot energy giant Equinor have executed a long-term time charter party for two oil/chemical tanker newbuilds with electric hybrid propulsion systems.

about 1 year ago
Jan De Nul, Hellenic Cables sign cable framework deal with French TSO
Business & Finance

Jan De Nul, Hellenic Cables sign cable framework deal with French TSO

Jan De Nul, in partnership with Hellenic Cables, has been awarded a framework agreement from France’s transmission system operator (TSO) Réseau Transport d’Electricité (RTE) to supply and install the export cables for two floating wind farms off the coast of Southern Brittany, totaling 750 MW. Jan D

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

Equinor comes up empty in North Sea duo

Equinor has found no hydrocarbons in two wells, which were drilled using one of Odfjell Drilling’s rigs in the North Sea off the coast of Norway.

about 1 year ago
VARD delivers advanced cable layer to Danish subsea specialist
Business & Finance

VARD delivers hybrid cable layer to Danish subsea specialist

Norway’s ship designer and shipbuilder VARD has delivered an advanced cable-laying vessel (CLV) to Denmark’s subsea specialist NCT Offshore, less than two years after the contract was signed. NCT placed the order for the 95-meter-long CLV Freja with VARD in early 2023, with Vard Design in Ålesund, N

about 1 year ago
UK’s first CO2 injection nears reality as final preparations are underway (Video)
Business & Finance

UK’s first CO2 injection nears reality as final preparations are underway (Video)

Perenco UK and Carbon Catalyst Limited are completing the final preparations for the CO2 injection test at a carbon capture and storage (CCS) license in the North Sea that encompasses what is seen as the UK’s largest depleted gas field. The partners secured a license to progress the Poseidon CCS pro

about 1 year ago
GT Wings
Business & Finance

GT Wings bags $1.3M in new investment round

UK’s wind propulsion technology provider GT Wings has closed over £1 million (about $1.3 million) in new equity that would enable the company to grow its team and further develop its wingsail solution.

about 1 year ago
'Large' Greek electrical interconnection done with construction, to enter operation in spring
Business & Finance

Construction of €1B Greek electrical interconnection done, operations in spring

Ariadne Interconnection, a subsidiary of Greek transmission system operator (TSO) Independent Power Transmission Operator (IPTO or ADMIE), has completed what it says is the largest electricity transmission project in Greece, with a budget exceeding €1.1 billion. IPTO reported yesterday, December 23,

about 1 year ago
Solstad buys into Omega Subsea
Business & Finance

Solstad buys into Omega Subsea

Solstad Subsea Holding, a wholly owned subsidiary of Norwegian shipping company Solstad Offshore, is set to acquire a 35.8% ownership share in Norway’s ROV, tooling, personnel, survey and project management services provider Omega Subsea. Established in 2012, Omega Subsea, with offices in Norway and

about 1 year ago