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Business & Finance - Offshore Energy

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Van Oord has completed high-precision ballasting operations and the installation of scour protection for the West White Rose project in Canada; Source: Van Oord

Business & Finance

Van Oord’s final part of work at Canada’s oil project on the agenda for next quarter

With three out of four phases already done, Van Oord, a Dutch marine contractor, is planning to embark on the last segment of its assignment in the fourth quarter of 2025 at a field off the coast of Newfoundland, Canada.

about 1 year ago

Business & Finance

Shipbuilding market shakeup: South Korea’s HD Hyundai Heavy Industries and HD Hyundai Mipo to merge

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South Korean shipbuilding companies HD Hyundai Heavy Industries (HHI) and HD Hyundai Mipo (HMD) have revealed plans to merge into a single entity.

about 1 year ago

Business & Finance

Middle East operator keeping EnerMech busy for two more years

EnerMech, an Aberdeen-headquartered integrated solutions specialist, has landed a multi-year contract extension in the Middle East with Dubai Petroleum, a UAE-based oil and gas operator.

about 1 year ago

Temis MSU DP3 flotel; Source: Nortrans Offshore

Business & Finance

2015-built flotel going to work at Shell’s deepwater asset in Nigeria

Nortrans, a Singapore-based offshore and shipping player, in partnership with Temile Development Company, has secured a new assignment for a 2015-built maintenance and support unit, part of its managed fleet, which will head to Africa for its new job at a deepwater field off the coast of Nigeria.

about 1 year ago

Business & Finance

New partnership to bring military-grade battery tech to commercial offshore energy sector

Scottish subsea intelligent energy management and storage solutions developer Verlume and Canada-headquartered marine technology player Kraken Robotics have entered into a strategic collaboration to introduce military-grade battery technology into the commercial offshore energy sector for what they

about 1 year ago

Business & Finance

Ahti nets additional funding to boost FuelEU Maritime compliance pool

Ahti Climate, a provider of FuelEU Maritime pooling services, has secured additional funding from Business Finland to further strengthen its Ahti Pool platform and advance research and development (R&D).

about 1 year ago

Business & Finance

Netherlands raises its energy security bar with permitting milestone for new LNG terminal

VTTI, a Dutch energy infrastructure company, and Höegh Evi, a Norwegian owner and operator of liquefied natural gas (LNG) carriers and floating storage and regasification units (FSRUs), have ticked off the first phase of the permit procedure from the list of requirements to bring their proposed new

about 1 year ago

Business & Finance

Subsea7 prolongs stay at Türkiye’s largest natural gas field with ‘major’ contract

Following the contract for inspection, repair and maintenance (IRM) services announced at the end of 2024, Subsea7 has now been selected to deliver subsea umbilicals, risers and flowlines (SURF) for Türkiye’s largest natural gas field. The SURF engineering, procurement, construction and installation

about 1 year ago

Business & Finance

One of world’s deepest interconnections to enter commercial operation in two months

The Crete-Attica electrical interconnection, the largest electricity transmission project in Greece, has completed a three-month testing phase, marking entry into the final stage before official commercial operation. With a budget of over €1.1 billion, the cable link connects the Attica region on th

about 1 year ago

Borr Drilling’s Prospector 1 rig; Source: Neptune Energy

Business & Finance

Borr Drilling’s hat trick: North Sea duo for one jack-up and West African job for another rig

Borr Drilling, an offshore drilling player, has secured three multimillion-dollar deals for two jack-up rigs in Europe and West Africa.

about 1 year ago

Business & Finance

Leadership change at Xodus as founder hands over CEO role to Subsea7 exec

Global energy consultancy Xodus, an autonomous Subsea7 subsidiary since 2018, has appointed a new chief executive officer (CEO) as the company founder decided to step down from the role. Xodus Founder Steve Swindell is stepping down from the CEO role after 20 years with the firm, set to be succeeded

about 1 year ago

Golar LNG's FLNG Hilli Episeyo; Credit: Seatrium

Business & Finance

Golar LNG entrusts Seatrium with FLNG upgrade ahead of 20-year job in Argentina

Golar LNG has put Seatrium in charge of refurbishing its floating liquefied natural gas (FLNG) unit before it embarks on its multi-year assignment at Argentina’s LNG project on the South American country’s Atlantic coast.

about 1 year ago

Nauticus wraps up initial tether-less survey scope for Shell in Gulf of Mexico

Business & Finance

US fully electric-operated AUV reaches ‘record depth’ of 2,300 meters

U.S.-based developer of subsea autonomous robotic systems and software Nauticus Robotics has reached a new depth record of 2,300 meters underwater with its fully electric-operated autonomous underwater vehicle (AUV). The Aquanaut Mark 2 AUV reached the record depth during its qualification testing,

about 1 year ago

FPSO Raroa operating at the Maari field; Source: MODEC

Business & Finance

New Zealand prolongs oil production lifespan of OMV’s 16-year-old field to 2037

OMV New Zealand, a subsidiary of Austria’s OMV, has received a multi-year extension of the petroleum mining permit (PMP) 38160, which encompasses an oil field that has been producing hydrocarbons since 2009 off the coast of New Zealand.

about 1 year ago