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Business & Finance - Offshore Energy

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ABB's package to optimize performance of NKT’s new cable-laying vessel

Business & Finance

NKT hires ABB to optimize performance of newbuild cable-laying vessel

Danish power cable manufacturer and installation company NKT has awarded Swedish–Swiss automation company ABB with a contract to supply a power distribution system for its newbuild cable-laying vessel (CLV) that enables integration of multiple power sources and allows engines to run at variable spee

about 2 years ago

WaveRoller, a white and blue wave energy converter in the sea

Business & Finance

ONDEP project wins €19M EU funding to deploy wave energy array offshore Portugal

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The Ondas de Peniche (ONDEP) project has secured €19 million in funding from the EU’s Horizon Europe funding program to deploy a 2 MW wave energy array with four WaveRoller wave energy converters offshore Portugal. The ONDEP project will start in October 2024 and run for five and a half years, cover

about 2 years ago

Danish power cable player to expand production capacity at another Swedish facility

Business & Finance

Danish power cable player expanding production capacity at another Swedish facility

After Karlskrona, Sweden, Denmark-headquartered power cable manufacturer and installation firm NKT is expanding its operations in Alingsås to boost the production capacity of high-voltage accessories. NKT is currently constructing a new hall in Alingsås for testing power cable accessories up to 525

about 2 years ago

Business & Finance

Industry welcomes boost to tidal stream projects following latest UK renewables auction results

Key industry players have welcomed the recent UK renewables auction results, where six tidal stream projects secured contracts, viewing it as a strong endorsement of the tidal energy sector’s growth. Five developers secured contracts to develop a total of 28 MW of tidal stream energy across the UK.

about 2 years ago

Business & Finance

Norwegian long-range AUV performs multi-week fully autonomous mission

Norway’s Kongsberg Discovery has completed a multi-week fully autonomous mission with its long-range autonomous underwater vehicle (AUV) HUGIN Endurance, said to have proven shore-to-shore operational capability. The mission, carried out at depths ranging from 50 to 3,400 meters and meeting the 1,20

about 2 years ago

Chevron secured Stena Drilling’s Stena Forth drillship for a decommissioning campaign in the Mediterranean Sea offshore Israel a few years ago, alongside an option for a well offshore Cyprus; Source:

Business & Finance

Chevron takes another shot at making Aphrodite rise from the sea with revised $4 billion plan for offshore gas development

Chevron has handed over an updated plan for the development of an offshore gas field reservoir in Block 12 to the government of Cyprus, which is located in the Eastern Basin of the Mediterranean Sea.

about 2 years ago

Business & Finance

Six companies in the run for three CO2 storage licenses offshore Norway

The Norwegian Ministry of Energy has received applications from six companies for three CO2 storage areas on the Norwegian Continental Shelf (NCS) as part of the seventh call for CO2 storage in the area. Aker BP, Equinor Low Carbon Solutions, Harbour Energy Norge, Horisont Energi, Storegga Norge and

about 2 years ago

Business & Finance

Real urgency to protect subsea infrastructure as world not looking bright, Dutch say

Subsea infrastructure is critical to the energy security in Europe and with the world not looking so bright there is a real urgency to get something going to protect this infrastructure, but the solution is not easy to find, panelists said at a discussion on seabed security organized by IRO, the Ass

about 2 years ago

VARD starts building another Prysmian cable-layer

Business & Finance

VARD starts building its third Prysmian cable-layer

Norwegian ship designer and shipbuilder VARD has kicked off the construction of its third cable-laying vessel (CLV) for Italian cabling giant Prysmian with a steel-cutting ceremony at its shipyard in Tulcea, Romania. According to VARD, the new vessel is the evolution of the Leonardo da Vinci / Monna

about 2 years ago

Business & Finance

First oil flows from subsea tie-back to North Sea FPSO months ahead of schedule

Aker BP has kicked off production from an offshore oil field project in the North Sea, which has been tied back to a floating production, storage, and offloading (FPSO) vessel operating off the coast of Norway.

about 2 years ago

Business & Finance

‘Big step forward’ for Harbour Energy as it takes hold of Wintershall Dea’s oil & gas assets

Harbour Energy has brought into its fold all upstream business assets that used to belong to Germany’s Wintershall Dea, aside from the ones in Russia, after wrapping up an $11.2 billion acquisition.

about 2 years ago

Business & Finance

Eni and Snam start the CO2 injection ball rolling at Italy’s first carbon capture and storage project

Eni and Snam have got down to the CO2 injection business at the first carbon capture and storage (CCS) project in Italy, which comes with a facility fully powered by electricity from renewable sources, avoiding further CO2 emissions.

about 2 years ago

Business & Finance

Christiania Shipping to enrich fleet with 13 stainless steel chemical carriers through new acquisition

Christiania Shipping, a specialized chemical ship-owning and chartering company, has set its sights on becoming the preferred infrastructure partner for the transport of small-scale chemicals in Europe through the acquisition of NAVQUIM Holding, an owner and operator of stainless steel chemical carr

about 2 years ago

Illustration of Magallanes Renovables tidal stream device. Source: UK Marine Energy Council

Business & Finance

UK awards six tidal stream projects with Contracts for Difference in Allocation Round 6

The UK government has unveiled the results of Allocation Round 6 (AR6) of the contracts for difference (CfD) renewable auction, with six projects across five sites securing contracts to deliver 28 MW of tidal stream capacity at a rate of £172/MWh (approximately $225/Mwh). AR6 marks the third consecu

about 2 years ago