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Business & Finance

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Energy industry needs to activate to improve North Sea seabed security, OEEC panel says
Business & Finance

‘Blind underwater’: Energy industry needed to improve North Sea seabed security, OEEC panel says

Security is a topic that has expanded in the last couple of years, bringing new worries to Europe. With a number of incidents occurring in European seas that harmed subsea (energy) infrastructure, seabed security made its way onto one of the first places on the energy security chart. A panel at Offs

about 1 year ago
Serica's Bruce, Keith, and Rhum (BKR) facilities; Source: Serica
Business & Finance
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Serica Energy makes a play for UK oil & gas firm to expand its portfolio

Serica Energy has set the wheels in motion to bring two additional licenses on the UK Continental Shelf (UKCS) under its fold by acquiring a compatriot player, Parkmead (E&P) Limited (PUK) from Parkmead Group.

about 1 year ago
'Sizeable' subsea tieback development job lands on Subsea7's desk
Business & Finance

Subsea7 secures multi-million subsea tieback project in US Gulf of Mexico

Luxembourg-based Subsea7 has been awarded a “substantial” contract from Beacon Offshore Energy for a subsea tieback development in the U.S. Gulf of Mexico, with the deal valued between $150 million and $300 million. According to Subsea7, the scope of work encompasses engineering, procurement, constr

about 1 year ago
NextGeo buys survey vessel for €6.7M, retrofit now on schedule
Business & Finance

NextGeo buys survey vessel for €6.7M, refit now on schedule

Italy-headquartered Next Geosolutions (NextGeo) has expanded its fleet with a 2010-built multi-purpose survey vessel (MPSV), which will after refitting be operational from the first quarter of 2025. NextGeo purchased the vessel Sea Admiral from the Norwegian company Beitveit Holding, renamed to NG E

about 1 year ago
Biofuel included in Wallenius Wilhelmsen’s two new multi-year shipping deals
Business & Finance

Biofuel included in Wallenius Wilhelmsen’s two new multi-year shipping deals

Norwegian shipping and logistics company Wallenius Wilhelmsen has secured two multi-year shipping contracts, both including biofuel, with undisclosed “large auto OEMs”.

about 1 year ago
Eco Wave Power's Gibraltar wave energy array before decommissioning (Courtesy of Eco Wave Power)
Business & Finance

Eco Wave Power unveils $3M direct offering to bolster commercial-scale wave energy deployment

Wave energy developer Eco Wave Power has entered into a securities purchase agreement with a single institutional investor to deploy commercial-scale wave energy technology. The offering involves the sale of 300,000 American Depositary Shares (ADSs), each representing eight common shares, at $10 per

about 1 year ago
FPSO Goliat; Credit: Øyvind Gravås/Vår Energi
Business & Finance

New oil discovery boosts Barents Sea potential with 20 more wells on the drilling horizon

Vår Energi has discovered oil resources in an appraisal well near the Goliat field in the Barents Sea off the coast of Norway. As the firm believes the new find has unlocked further potential in the area, it plans to drill 20 more wells in the Barents Sea over the next four years.

about 1 year ago
Madoqua-led coalition formalizes Portugal-Northern Europe green fuels corridor initiative
Business & Finance

Madoqua-led coalition formalizes Portugal-Northern Europe green fuels corridor initiative

Renewable energy developer Madoqua and its industry partners have formalized plans to operationalize a green fuels corridor connecting Portugal with Northern Europe.

about 1 year ago
A large vessel at sea
Business & Finance

Hanwha handpicks GTT for tank design of LNG carrier pair

South Korea’s shipbuilder Hanwha Ocean has placed an order with French technological containment specialist Gaztransport & Technigaz (GTT) for the tank design of two new liquefied natural gas (LNG) carriers it is building for Greek shipowner Maran Gas Maritime.

about 1 year ago
Moray West Says Show Must Go On
Business & Finance

Ocean Winds hires Føn Energy Services in Scotland

Ocean Winds, a 50/50 joint venture between EDP Renewables and ENGIE, has contracted Føn Energy Services to provide a fully integrated Balance of Plant (BoP) operations and maintenance (O&M) service program for the Moray East and Moray West offshore wind farms in Scotland. The contract is valid for t

about 1 year ago
UK’s first ever carbon storage becoming a reality, first injection expected in 2027
Business & Finance

UK’s first ever carbon storage becoming a reality, first injection expected in 2027

The North Sea Transition Authority (NSTA) has awarded the Northern Endurance Partnership (NEP), comprising BP, Equinor and TotalEnergies, with the first-ever carbon storage permit in the UK. The project, located around 75 kilometers east of Flamborough Head, off Teesside on England’s east coast, is

about 1 year ago
Gas leak at Nord Stream 2 pipeline as seen from a Danish F-16 interceptor near Bornholm, Denmark on 27 September 2022.
Business & Finance

Hybrid warfare paints ‘gray zone’ targets on shipping and offshore energy infrastructure

With the swift surge in geopolitical upheavals, a rising tide of offshore security risks is playing out across the globe, putting vessels, undersea cables, and offshore oil and gas installations in danger of increasingly becoming sitting ducks for “gray zone” attacks, which WTW interprets as actions

about 1 year ago
Air Liquide
Business & Finance

Air Liquide wins €110 million EU grant for large-scale ammonia-to-hydrogen project

Air Liquide has been awarded a grant of €110 million from the European Innovation Fund for its ENHANCE project in the Port of Antwerp-Bruges, Belgium, that aims to produce and distribute low-carbon and renewable hydrogen derived from ammonia.

about 1 year ago
Large-scale North Sea CO2 storage gallops ahead as Danish project reaches FID
Business & Finance

EU’s first full-scale CO2 storage facility gallops ahead as Danish project reaches FID

The consortium partners behind Project Greensand have taken the final investment decision (FID) for what is the first full-scale carbon storage facility in the EU, investing $150 million in commercial agreements across the entire value chain, from CO2 emitters to logistics, storage, and shipping. On

about 1 year ago