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Business & Finance

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Rovco and Vaarst's new brand makes €17.8M investment in its fleet
Business & Finance

Rovco and Vaarst’s new brand makes €17.8M investment in its fleet

Beam, a new brand formed by the merger of UK-based providers of tech-powered offshore wind solutions Rovco and Vaarst, has added two autonomous surface vessels (ASVs) and an electric work-class remotely operated vehicle (ROV) to its fleet. Under the brand-new name, the companies aim to bring technol

about 2 years ago
FSRU Alexandroupolis; Source: Gastrade
Business & Finance

Countdown to commercial ops at European LNG terminal underway

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Greece’s first offshore liquefied natural gas (LNG) terminal, which is expected to secure low-emission energy while enhancing Southeastern Europe’s diversification of gas sources, is fast approaching its commercial operations date, with less than two weeks left until start-up.

about 2 years ago
UK-headquartered CRP Subsea has secured a contract from Norway-based ocean services provider DeepOcean to supply cable protection systems for RWE’s Nordseecluster A offshore wind project in the German
Business & Finance

DeepOcean taps CRP Subsea for offshore wind cable protection systems

UK-headquartered CRP Subsea has secured a contract from Norway-based ocean services provider DeepOcean to supply cable protection systems for RWE’s Nordseecluster A offshore wind project in the German part of the North Sea. Under this contract, CRP Subsea will supply 96 NjordGuard cable protection s

about 2 years ago
A view of a rocky coastline in the foreground and an offshore platform in the background
Business & Finance

Australian firm formally secures UK offshore license trio

Three new licenses awarded to ASX-listed Hartshead Resources as part of the UK’s oil and gas licensing round organized by the country’s regulator, the North Sea Transition Authority (NSTA), have been fully executed.

about 2 years ago
Illustration; Source: Offshore Energies UK (OEUK)
Business & Finance

UK’s oil & gas industry on its way to surpassing methane and production emissions cuts years before deadline

The UK wants decarbonized oil and gas production to power its homes and businesses with low-carbon and zero-emission energy.

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

Vallourec expands pipe coating services with acquisition of Brazillian firm

France’s tubular solutions provider Vallourec has entered into a definitive agreement with Mattr to acquire 100% of the shares in its subsidiary, Thermotite do Brasil, a provider of thermal insulation pipe coating services for the offshore oil and gas industry. Vallourec is acquiring Thermotite do B

about 2 years ago
FPSO Johan Castberg in Barents Sea; Credit: Lars Morken/Equinor
Business & Finance

With giant newbuild FPSO anchored at Norwegian field, hook-up and first oil next on the agenda

Equinor has anchored its new floating production, storage, and offloading (FPSO) vessel to the seabed with mooring lines and will proceed to complete the rest of the items on the production start-up list to bring its oil project in the Barents Sea online, enabling the FPSO unit to embark on a three-

about 2 years ago
French company's barge in fifth gear for Germany’s Wilhelmshaven 2 LNG terminal
Business & Finance

French firm’s barge in fifth gear for Germany’s Wilhelmshaven 2 LNG terminal

As part of a contract with Norway’s technology company ECOnnect Energy, French Geocean has picked up the thermo composite pipes (TCP) reels that will connect the FSRU to the onshore site as part of the second liquefied natural gas (LNG) terminal in Wilhelmshaven developed by German state-owned Deuts

about 2 years ago
Scarabeo 8 rig; Source: Saipem
Business & Finance

Saipem rig staying with Norwegian oil & gas firm until 2026-end

Saipem has secured more work with Aker BP, a Norwegian oil and gas player, for a semi-submersible rig, which is working on the Norwegian Continental Shelf (NCS).

about 2 years ago
Grand block ceremony held for newbuild Nexans cable layer (Photos)
Business & Finance

Grand block ceremony held for newbuild Nexans cable layer (Photos)

Nexans and Ulstein have held the grand block ceremony for the new cable-laying vessel (CLV) Nexans Electra, bringing the vessel closer to realization. The ceremony was celebrated on September 10 at CRIST, Poland, with the remaining processes such as engineering, outfitting, system integration, equip

about 2 years ago
Nexans to link Orkney Islands to UK mainland by 2027
Business & Finance

Nexans to link Orkney Islands to UK mainland in 2027

Following the capacity reservation agreement signed in November 2023, French subsea power cables manufacturer Nexans has officially been awarded a contract by SSEN Transmission to connect the Orkney Islands and the UK mainland. The Orkney Transmission Link will exchange up to 220 MW of renewable ene

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

Closing ‘reality gap’ between net zero ambition and energy transition action requires US and EU to pull all decarbonization levers

McKinsey & Company, a global management consulting firm, highlights the need to up the climate action ante by scaling up interrelated low-emission and green technologies.

about 2 years ago
Structural twin for FPSO can unlock multimillion dollar savings for offshore energy production; Source: Akselos
Business & Finance

FPSO structural twin enabling assets’ life extension and multimillion-dollar savings for oil & gas operators

Akselos has unveiled its structural performance management (SPM) software designed to enhance asset performance, ensure uninterrupted operations, and extend the asset life of floating production, storage, and offloading (FPSO) vessels.

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

Nexans sets aside €90 million to support European offshore wind growth

Nexans, a French manufacturer of subsea power cables, has unveiled a €90 million investment to build new and upgrade existing facilities to support the growth of offshore wind in Europe. The investment will begin in 2025 and run through 2026 when the work is planned to be completed. The funding will

about 2 years ago