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Business & Finance

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EU fund grants €14.3 million for scale-up of advanced remote USVs
Business & Finance

EU fund grants €14.3 million for scale-up of advanced remote USVs

Norwegian Reach Subsea has secured funding of up to €14.3 million from the EU Innovation Fund, under the Net Zero Technologies initiative, which will be used for the scale-up of the Reach Remote project focusing on the development of advanced remote unmanned surface vessels (USVs). “This is a signif

about 2 years ago
Offshore wind firm expands with 'highly complementary' subsea company
Business & Finance

Offshore wind firm expands with acquisition of ‘highly complementary’ subsea company

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Offshore wind services company Venterra Group has acquired Oceanscan Holdings Limited, a group of companies that provide subsea and non-destructive test equipment, geotechnical services and specialist personnel to the offshore energy market. Founded in 1989 and headquartered in Aberdeen with oversea

about 2 years ago
After US offshore wind, 2000-built vessel wraps up geotechnical program off Türkiye
Business & Finance

After US offshore wind, 2000-built vessel wraps up geotechnical program off Türkiye

U.S.-headquartered TDI-Brooks has completed another geotechnical program offshore Türkiye, its fifth such investigation for Istanbul-headquartered DenAr Ocean Engineering Services. Research vessel Nautilus, formerly known as Nautical Geo, was sent to the Black Sea site, offshore Filyos, from the U.S

about 2 years ago
PSV design by MMC Ship & Design; Courtesy of Kongsberg Maritime
Business & Finance

Multimillion-dollar award puts Kongsberg in charge of equipping newbuild 10-vessel oil & gas fleet

Kongsberg Maritime has been tasked to provide a wide range of equipment for a new fleet of ten platform supply vessels (PSVs), which are being built by a Chinese shipbuilder for Greece’s vessel owner Capital Offshore Management Corp.

about 2 years ago
Valaris 123 jack-up rig; Source: Valaris
Business & Finance

Initial drilling indications seen as ‘encouraging’ at Shell’s high-impact North Sea gas prospect

While the preliminary findings indicate the presence of gas, Shell is continuing activities at its high-impact gas prospect in the UK sector of the North Sea, thus, more information will be available following a comprehensive review.

about 2 years ago
Steel cutting ceremony for new CSV occurred at Sefine Shipyard in Türkiye; Source: Agalas
Business & Finance

WATCH: ‘World’s most eco-friendly’ subsea and offshore wind vessel takes first construction steps

Eidesvik Offshore and its partner, Agalas, have begun to build a methanol-powered hybrid construction support vessel (CSV) for offshore wind and subsea operations.

about 2 years ago
Courtesy of Subsea7
Business & Finance

BP’s deal enabling Subsea7 and SLB-led OneSubsea to devise ‘fit-for-project’ solutions

BP has penned a global frame agreement with Subsea Integration Alliance, a strategic alliance between SLB’s OneSubsea and Subsea7.

about 2 years ago
Tyra II; Source: TotalEnergies
Business & Finance

With repairs done ahead of schedule, missing piece of TotalEnergies’ Tyra II puzzle back at huge North Sea asset

TotalEnergies has fixed an equipment issue that came up a few months ago at its natural gas redevelopment project in the Danish sector of the North Sea, which derailed its schedule for boosting output to full technical capacity.

about 2 years ago
A large vessel at sea with several smaller ones on one side
Business & Finance

With 75 already done, Eni’s Coral Sul FLNG now sends out one weekly LNG shipment

The Chief Executive Officer (CEO) of Mozambique’s state-owned Empresa Nacional de Hidrocarbonetos (ENH) has paid a visit to the floating liquefied natural gas (FLNG) unit offshore Mozambique, operated by Italian oil and gas major Eni. This unit currently produces enough for a weekly shipment of LNG

about 2 years ago
Prysmian vessel working on Ariadne Interconnection; Source: IPTO
Business & Finance

New partner joins Greece’s ‘largest and most complex’ subsea interconnector project

IPTO has received the blessing of its board of directors for a partial divestment of a stake in its subsidiary which is developing a subsea interconnector cable between the island of Crete and the Greek mainland.

about 2 years ago
ROV mobilization (for illustration purposes); Source: Omega Subsea
Business & Finance

European duo bolsters subsea survey offering for oil & gas and renewables

Omega Subsea has strengthened offshore survey services to meet the rising demand, particularly in sectors like renewable energy, oil and gas, and other underwater infrastructure by pooling resources with EIVA.

about 2 years ago
Illustration; Source: RTS
Business & Finance

Norwegian firm expands rental portfolio with UK player’s leak detection tech for subsea ops

UK-headquartered wireless subsea instrumentation developer Aquatec has joined forces with Norway-based Rental Partnership (RTS), enabling its subsea leak detection technology to be added to the Norwegian firm’s rental offering available to the offshore industry around the globe, including subsea con

about 2 years ago
A view of the coast and two vessels at sea
Business & Finance

Rockhopper wins extension for Falklands assets as it sheds two Italian ones

UK-based oil and gas exploration and production company Rockhopper Exploration has signed a share purchase agreement (SPA) with India’s Zodiac Energy to dispose of its two Italian assets and put in place an insurance policy as it awaits the resolution of a dispute with Italy over a third one. Additi

about 2 years ago
An offshore rig
Business & Finance

One multimillion-dollar offer for stake in UK player’s asset off Cameroon on the table with more anticipated as talks continue

The UK-based oil and gas company Tower Resources has received an updated and more detailed offer for the farm-out process regarding its production-sharing contract (PSC) off the coast of Cameroon. However, the firm’s discussions with other interested players are still ongoing, thus, it expects to re

about 2 years ago