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Business & Finance

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Argeo halts bankruptcy plans as industry player shows interest
Business & Finance

Bankruptcy plans halted as industrial player takes an interest in Argeo

Norway’s subsea services provider Argeo has postponed its decision to file for bankruptcy after receiving an indication of interest from an industrial player. It was reported on July 7 that Argeo and its Norwegian subsidiaries Argeo Survey, Argeo Robotics and Argeo Multiclient had resolved to file f

about 1 year ago
Prelude; Source: Shell
Business & Finance

Multimillion-dollar jobs for Monadelphous on Shell’s gas project and Australia Pacific LNG

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Monadelphous, an Australian engineering group, has landed a new assignment on a natural gas field development off the coast of Western Australia and a contract extension for a liquefied natural gas (LNG) project in Queensland located in northeastern Australia.

about 1 year ago
LS Marine Solution Shinan Ui cable work
Business & Finance

LS Marine Solution to install cables at 390 MW South Korean offshore wind farm

LS Marine Solution has been selected as the preferred bidder for the submarine cable installation work at the Shinan Ui offshore wind project in South Korea. The 390 MW offshore wind farm is being developed by a consortium led by Hanwha Ocean and SK Eternics. Construction is scheduled to begin in 20

about 1 year ago
Norwegian Ambassador Anniken Huitfeldt and U.S. Secretary of Energy Chris Wright.
Business & Finance

Norway and US renew hydropower and marine energy research pact

Norway and the U.S. have signed a renewed memorandum of understanding (MoU) covering hydropower and marine energy research, continuing an energy research collaboration that began in 2020. According to the Norwegian Ministry of Energy, the cooperation targets flexible power delivery from hydropower,

about 1 year ago
COSL Innovator rig; Source: COSL
Business & Finance

COSL rig cleared to spud North Sea wildcat pair next month

Equinor has secured a drilling permit for two exploration wells in the Norwegian sector of the North Sea, which will be drilled with a semi-submersible rig owned by COSL Drilling Europe, an offshore drilling player.

about 1 year ago
Keel laid for Rem Offshore’s second methanol-ready energy subsea construction vessel
Business & Finance

Keel laid for Rem Offshore’s second methanol-ready energy subsea construction vessel

Norwegian shipping company Rem Offshore has held the keel-laying ceremony for its second energy subsea construction vessel (ESCV), being built at a shipyard in Vietnam. REM Ocean, for which the steel-cutting ceremony was held in February, will once delivered from Myklebust Verft in 2027 begin operat

about 1 year ago
Launching of FSRU Hull 3407 took place at the HD Hyundai Heavy Industries shipyard in South Korea; Source: Excelerate Energy
Business & Finance

FSRU construction progressing with hull launch at South Korean shipyard

A new construction milestone has been achieved for a newbuild floating storage regasification unit (FSRU), owned by the U.S.-based Excelerate Energy, a liquefied natural gas (LNG) giant with a full range of flexible regasification services, spanning from FSRUs to infrastructure development and LNG s

about 1 year ago
Tekmar receives order for Middle Eastern pipeline project
Business & Finance

Tekmar receives order for pipeline project in Middle East, seen as key market

UK-headquartered Tekmar Group has secured a contract under which it shall supply bespoke subsea infrastructure technology for a pipeline project in the Middle East. The scope covers the design and manufacture of specialist reinforced concrete support structures for a large-diameter gas pipeline, wit

about 1 year ago
Deepsea Mira rig; Source: Odjell Drilling
Business & Finance

Odfjell Drilling-managed rig gets work offshore Namibia

African energy exploration player Rhino Resources has hired a semi-submersible rig, owned by Northern Ocean (NOL) and managed by Odfjell Drilling, for drilling assignments off the coast of Namibia, Africa.

about 1 year ago
Anemoi opens new rotor sail production facility in China
Business & Finance

Anemoi opens new rotor sail production facility in China

Building on existing strategic partnerships and looking to enhance manufacturing capabilities, UK-based wind-assisted propulsion provider Anemoi Marine Technologies has opened its new rotor sail procution facility in China.

about 1 year ago
FPSO Guanabara; Source: MODEC
Business & Finance

MODEC’s FPSO achieves status as largest oil & gas producer in Brazilian waters

Given its ongoing performance, a floating production, storage, and offloading (FPSO) vessel deployed at the third-largest pre-salt field off the coast of Brazil has received recognition as the unit spearheading the country’s oil and gas production.

about 1 year ago
FPSO Bacalhau; Source: Subsea7
Business & Finance

Subsea7 and OneSubsea pick up work on Equinor’s new chapter of Brazilian oil field story

Equinor has hired Subsea Integration Alliance (SIA), a strategic alliance combining the strengths of SLB OneSubsea and Subsea7, to handle an assignment related to the next stage of its operated oil field off the coast of Brazil.

about 1 year ago
Swedish state-owned corp backs financing of large UK subsea link with €800M
Business & Finance

Swedish state-owned corp backs financing of large UK subsea link with €800M

Swedish Export Credit Corporation (SEK), a state-owned company that finances Swedish exporters, their subcontractor, and foreign customers, has agreed a €800 million loan facility with National Grid Electricity Transmission to fund a portion of what is said to be the UK’s largest-ever electricity tr

about 1 year ago
Gjøa; Source: Vår Energi
Business & Finance

TechnipFMC and Vår Energi chart a way forward for ‘faster’ North Sea oil & gas developments

TechnipFMC and Vår Energi have struck a deal related to the model that will be used to bring to life future subsea developments in the Gjøa area in the North Sea, off the coast of Norway.

about 1 year ago