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Business & Finance

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DRIFT
Business & Finance

DRIFT secures funds for first green hydrogen producing vessel

DRIFT Energy, a British startup set to make green energy at sea using hi-tech sailing vessels, has closed its seed funding round that would enable it to build its first green hydrogen producing vessel.

about 2 years ago
Port of Sunderland
Business & Finance

UK port secures new partner to set up decom hub for North Sea oil & gas region

A business opportunity worth nearly $3.3 billion per year has prompted the UK’s Port of Sunderland to forge ties with Northern Metal Recycling to bring a new decommissioning playground into play, opening the doors to service the oil and gas industry in the North Sea.

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about 2 years ago
Christening ceremony of Calypso cable-laying vessel; Source: Van Oord
Business & Finance

Fugro lands long-term offshore wind support contract with Van Oord

Dutch geo-data specialist, Fugro, has been awarded a long-term contract to provide construction support to its compatriot Van Oord for offshore wind farms across Europe for three years, with an option to extend. Under the contract, multiple remotely operated vehicle (ROV) systems, construction equip

about 2 years ago
Greater Laggan Area; Source: TotalEnergies
Business & Finance

Seven new UK offshore blocks await TotalEnergies and Kistos in West of Shetland oil & gas producing area

TotalEnergies and Kistos have been presented with seven new blocks or part blocks in an area that contains producing oil and gas assets located West of Shetlands off the coast of the UK.

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

Aker BP bolsters digitalization arsenal by streamlining brownfield asset management with help of digital twins

Aker BP has expanded its collaboration with Aize, a digital twin software provider, by including a software-as-a-service (SaaS) agreement for all relevant facilities.

about 2 years ago
Pre-lay operations about to begin for first UK-Germany energy link
Business & Finance

Pre-lay operations about to begin for first UK-Germany energy link

The C-Horizon vessel is set to soon kick off shallow water debris removal, boulder relocation and pre-lay grapnel run activity in UK waters to clear the proposed cable route for the first direct energy link between the UK and Germany. The 1.4 GW NeuConnect interconnector will see the construction of

about 2 years ago
Former CEO of Transocean JV takes the same role at Northern Ocean
Business & Finance

Former CEO of Transocean JV takes the same role at Northern Ocean

Oslo Stock Exchange-listed offshore drilling contractor Northern Ocean, a spin-off company of Northern Drilling, has picked a new Chief Executive Officer (CEO) to spearhead the company and oversee the implementation of its growth strategy.

about 2 years ago
ADNOC, Petronas and Storegga team up on carbon capture and storage off Malaysia
Business & Finance

ADNOC, Petronas and Storegga team up for carbon capture and storage off Malaysia

Malaysian state-owned energy giant Petronas, Abu Dhabi National Oil Company (ADNOC), and UK’s carbon capture and storage (CCS) company Storegga have signed a joint study and development agreement (JSDA) to evaluate the CO2 emissions storage capabilities of saline aquifers and the construction of CCS

about 2 years ago
FPSO Jotun; Source: Vår Energi
Business & Finance

FPSO delay pushes North Sea project’s costs up by $400 million and bumps first oil to 2025

Vår Energi has made changes to the schedule for the start-up of an oil field life extension project in the Norwegian sector of the North Sea, moving it to the second quarter of 2025.

about 2 years ago
TGS starts rebranding streamer fleet, gets OBN contract extension in North America
Business & Finance

TGS starts rebranding streamer fleet, gets OBN contract extension in North America

Amid the process of rebranding its offshore streamer fleet, Norwegian seismic company TGS has secured the extension of an existing ocean bottom node (OBN) data acquisition contract in North America. The four-month extension to the existing contract will build on existing operations, enhancing the cl

about 2 years ago
EnerMech bags two deals thanks to its brand-new joint venture in Azerbaijan
Business & Finance

EnerMech scores two ‘major’ pipeline pre-commissioning contracts offshore Malaysia

UK-based oilfield services provider EnerMech has won two “significant” pipeline pre-commissioning contracts offshore East Malaysia to expand pipeline and subsea activities within the region in deep and shallow water environments. According to EnerMech, the contracts are secured with two tier-one cli

about 2 years ago
Kriegers Flak offshore wind farm in the Danish Baltic Sea
Business & Finance

Vattenfall taps Correll Group for multi-year offshore wind services

Correll Group, a subsidiary of SPIE Global Services Energy, has been awarded two multi-year framework agreements from Vattenfall to carry out cable testing and fault finding for Vattenfall’s offshore wind farms in Europe. The two framework agreements cover Vattenfall’s existing and potential new off

about 2 years ago
Gas from Argo Cassiopea field is transported to Gela processing plant; Source: Eni
Business & Finance

Italy’s ‘most important’ gas project goes live leaving near-zero emissions in its wake

Eni has hit a new milestone with the start-up of a gas project at an offshore field in the Strait of Sicily, describing the field as the most important gas development project in Italy.

about 2 years ago
DeepOcean's subsea vessel to keep servicing its lifetime client for another five years
Business & Finance

DeepOcean’s subsea vessel to keep servicing its lifetime client for another five years

Norway-based ocean services provider DeepOcean has secured a five-year contract extension with a Mexican company that provides services and solutions for the oil industry for its construction and subsea vessel. Thanks to the contract extension with Diavaz, DeepOcean’s Arbol Grande vessel will work o

about 2 years ago