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Business & Finance

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Brunvoll to deliver thruster package for another newbuild REM Offshore vessel
Business & Finance

Another newbuild REM Offshore vessel to sport Brunvoll thruster package

Norway’s Myklebust Shipyard has awarded compatriot Brunvoll with another contract for a thruster package, destined for an inspection, maintenance and repair (IMR) vessel it is building for REM Offshore. This confirms the option for an additional vessel for REM Offshore, originally announced in May t

about 1 year ago
The CorPower 4 wave energy device offshore Porgual (Courtesy of CorPower Ocean)
Business & Finance
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European Investment Bank backs CorPower Ocean’s wave energy project

Swedish company CorPower Ocean’s wave energy initiative in Portugal has gained backing from the European Investment Bank (EIB), which views the project as an “innovative solution that could revolutionize the renewable energy landscape.” According to CorPower Ocean, the EIB is providing the company w

about 1 year ago
Provaris making strides in developing hydrogen supply chains
Business & Finance

Provaris making strides in developing hydrogen supply chains

Australian Provaris Energy has been making progress in developing hydrogen supply chains and advancing the company’s proprietary hydrogen carrier.

about 1 year ago
enersea2
Business & Finance

Cable carousels for Scottish cable factory under construction in Dubai

UAE’s Subsea Cable Assets (SCA) has begun the production of cable carousels destined for Sumitomo Electric’s cable factory in Scotland. The Dubai-based EPIC contractor SCA has appointed the Dutch Enersea to design six cable carousels and loading towers for the Japanese end customer. The carousels ar

about 1 year ago
Tyra II; Source: TotalEnergies
Business & Finance

TotalEnergies needs more time to restart all fields at huge North Sea gas project

As bad weather interfered with its plans, delaying the production from remaining fields, TotalEnergies has amended its timeline for the full production capacity from all fields at its natural gas redevelopment project in the Danish sector of the North Sea.

about 1 year ago
Illustration/CETO wave energy array
Business & Finance

CETO Wave Energy Ireland receives ‘milestone’ EuropeWave payment

Carnegie Clean Energy’s subsidiary, CETO Wave Energy Ireland (CWEI), has secured a milestone payment of €203,437 under the EuropeWave Phase 3 contract. According to Carnegie, the funding recognizes the completion of design reports for the company’s CETO wave energy converter (WEC), marking an impor

about 1 year ago
Source: Mermaid Subsea Services (UK)
Business & Finance

‘Monumental year’ for Mermaid Subsea as it breaks North Sea decommissioning record

Aberdeen-headquartered Mermaid Subsea Services (UK) has plugged and abandoned (P&A) 30 wells in the UK North Sea during 2024, claiming that this is the highest number of vessel-based well decommissioning operations ever completed in a single year within the region. The work was carried out using the

about 1 year ago
Nexans to link Swedish island to mainland under ‘substantial contract’
Business & Finance

Nexans to link Swedish island to mainland under ‘substantial contract’

Nexans has secured a contract with Swedish transmission system operator (TSO) Svenska kraftnät to deliver subsea and onshore cables for an electricity connection project that will strengthen the electricity supply between the island of Gotland and mainland Sweden. As part of the contract described a

about 1 year ago
Transocean Norge; Source: Transocean
Business & Finance

Two oil & gas firms strike trade-off deal ahead of drilling ops

OKEA and DNO have made arrangements to exchange partial stakes in two prospects off the coast of Norway, which are slated to be drilled with Odfjell Drilling and Transocean semi-submersible rigs.

about 1 year ago
EU approves €3 billion German-Dutch RFNBO scheme, hydrogen in focus
Business & Finance

EU approves €3 billion German-Dutch RFNBO scheme, hydrogen in focus

The European Commission has approved, under EU State aid rules, a €3 billion German-Dutch scheme to support the production of renewable fuels of non-biological origin (RFNBOs), including renewable hydrogen, throughout the world.

about 1 year ago
DeepOcean stays alone in contract with Equinor as TechnipFMC opts out
Business & Finance

DeepOcean stays alone in contract with Equinor as TechnipFMC opts out

Norwegian ocean services provider DeepOcean is taking 100% ownership of the pipeline repair and subsea intervention (PRSI) Pool Services contract with Equinor, formerly operated in a joint venture (JV) with TechnipFMC. To remind, Equinor has operational responsibility for what is said to be the worl

about 1 year ago
Mocean Energy’s Blue X wave energy device under sea trials (Courtesy of Mocean energy/Photo by Colin Keldie)
Business & Finance

Mocean Energy lands £1.2M grant and almost £200K for further commercial work

Scottish wave energy company Mocean Energy has secured £140,000 (around $178,000) of further commercial work and a £1.2 million (around $1.5 million) grant from Wave Energy Scotland (WES) to further develop a novel direct drive generator for wave energy technology. According to Mocean Energy, the fu

about 1 year ago
With 'outstanding' financial results in 2023, Prysmian upgrades its decarbonization strategy
Business & Finance

Prysmian inks €700 million framework agreement for offshore links in France

Italy’s Prysmian has signed a framework agreement with the French transmission system operator (TSO) Réseau de Transport d’Électricité (RTE) to provide submarine power cable links that will connect two offshore wind farms to the French transmission grid. Under the contract, Prysmian will be responsi

about 1 year ago
Enova
Business & Finance

Fourteen zero-emission vessels to receive funding from Enova

Norwegian government enterprise Enova has announced financial support for seven ammonia ships, two hydrogen ships, five electric ships and one charging facility, in the latest round of the country’s investments in green shipping.

about 1 year ago