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Business & Finance

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Ostwind 4
Business & Finance

50Hertz awards contract for Ostwind 4 offshore grid connection in Germany

UAE-based Drydocks World, in partnership with GE Vernova, has secured a contract to build and install Ostwind 4, a 2 GW offshore wind grid connection in Germany. Ostwind 4 will connect Baltic Sea offshore wind farms to the national grid using high-voltage direct current (HVDC) technology. This will

about 1 year ago
Argeo halts bankruptcy plans as industry player shows interest
Business & Finance

Argeo nets five-year site investigation agreement with TotalEnergies, extensions possible

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Norway’s subsea services provider Argeo has entered into a five-year agreement, with potential for an additional two years, with France’s energy giant TotalEnergies for offshore site investigation services. The two companies established a global framework agreement on legal terms and conditions (FAL

about 1 year ago
Appraisal well was drilled by COSL Prospector rig; Source: COSL
Business & Finance

Vår Energi and Equinor mull over oil discovery tie-back to existing Barents Sea FPSO

Following a new oil discovery near an asset that is already in operation, Vår Energi and its Equinor, are in the process of contemplating a tie-back of their latest discovery to the existing floating production, storage, and offloading (FPSO) unit in the Barents Sea.

about 1 year ago
Poseidon Principles
Business & Finance

Poseidon Principles: Global shipping finance portfolio nears alignment with 2050 net zero goals

Prompted by the continued growth of climate transparency from financial institutions, the global finance portfolio for shipping has moved closer to alignment with ambitious decarbonization trajectories set by the International Maritime Organization (IMO), aiming to remove emissions from internationa

about 1 year ago
An offshore platform at sunset
Business & Finance

British firm buying into Orcadian’s North Sea assets, with eyes on ‘zero carbon energy’ development

UK-headquartered oil and gas player Orcadian Energy has inked two deals with compatriot power developer and operator of power plants, the Independent Power Corporation (IPC), and its affiliates.

about 1 year ago
FPSO Prof. John Evans Atta Mills operating on TEN fields; Source: Tullow
Business & Finance

US oil & gas player pondering takeover of UK firm with initial talks underway

Kosmos Energy is mulling over a potential acquisition of the UK-headquartered Tullow Oil, which is set on exploring oil and gas resources in Africa.

about 1 year ago
Port-La Nouvelle
Business & Finance

Changes in ownership follow Höegh Evi’s rebranding

Funds managed by Igneo Infrastructure Partners have entered into agreements to acquire a 50% ownership stake in Larus Holding Limited, the 100% owner of energy infrastructure solutions provider Höegh Evi, from funds managed by Morgan Stanley Infrastructure Partners (MSIP).

about 1 year ago
Van Oord picks Baltic Eagle inter-array cables
Business & Finance

Vestas, TKF secure contracts for 1.1 GW Inch Cape offshore wind farm

Inch Cape Offshore Limited, a joint venture between Red Rock Power Limited and ESB, has awarded TKF with a turnkey contract to supply and install inter-array cables at the Inch Cape offshore wind farm. Additionally, Vestas has secured a firm order to deliver its V236-15.0 MW wind turbines to the 1.1

about 1 year ago
Proteus Marine Renewables' worker
Business & Finance

Normandie Hydroliennes launches crowdfunding for Raz Blanchard pilot tidal farm

Tidal energy developer Normandie Hydroliennes has initiated a crowdfunding campaign on the WiSEED platform to support the development of its 12 MW tidal turbine pilot farm in the Raz Blanchard, located near Cherbourg, France. Scheduled for commissioning in 2028, the project marks an important miles

about 1 year ago
Norwegian cleantech company TECO 2030 files for bankruptcy
Business & Finance

Norwegian cleantech company TECO 2030 files for bankruptcy

Norway-based cleantech company TECO 2030, known for the development of hydrogen fuel cells, has filed for bankruptcy.

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

Aker BP bites the dust in North Sea well

Aker BP has found no hydrocarbons at a well in the North Sea off the coast of Norway. One of Odfjell Drilling’s semi-submersible rigs was in charge of drilling operations.

about 1 year ago
Subsea7 orders steel pipes from Greek company for two North Sea projects
Business & Finance

Subsea7 orders steel pipes from Greek company for two North Sea projects

Greece-based Corinth Pipeworks, the steel pipe segment of Belgian Cenergy Holdings, has secured two contracts with Subsea7 for work in the North Sea. According to the company, the projects, Bestla in Norway and Bittern in the UK, further solidify its strong geographical presence in the region and un

about 1 year ago
Orsted Hornsea 3
Business & Finance

JDR Cable Systems hired by Ørsted for 2.9 GW offshore wind farm

Ørsted has awarded several contracts totaling between £75 million and £100 million to companies in the north of England to provide components for the 2.9 GW Hornsea 3 offshore wind farm. JDR Cable Systems, Severfield, and Smulders, all based in the north of England, will produce integral components

about 1 year ago
ADNOC
Business & Finance

Maritime, clean fuel projects in the spotlight of EU’s STEP initiative

Several maritime and alternative fuels projects are among initiatives that have been awarded the Strategic Technology Platform for Europe (STEP) label in a new initiative of the European Commission to boost investment in critical technologies in Europe and support the local industry.

about 1 year ago