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Business & Finance

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Cormorant Alpha topsides; Source: TAQA
Business & Finance

AquaTerra rakes in seven-figure sum thanks to four decom gigs

The UK’s AquaTerra Group has won four deals for decommissioning projects, said to be valued in the million-dollar price range.

about 2 years ago
Claire Mack, CEO of Scottish Renewables at stage
Business & Finance

Scottish Renewables CEO: Marine energy industry will play key role in UK energy system

The Chief Executive Officer (CEO) of Scottish Renewables has commented on the marine energy sector’s progress toward commercialization, explaining that the marine energy industry will play a key role in the UK energy system.

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about 2 years ago
Under new CEO, Prysmian makes solid start to 2024
Business & Finance

Under new CEO, Prysmian makes solid start to 2024

Following an “outstanding” 2023, Italian cabling giant Prysmian has made a solid start to 2024, reporting a net profit of €190 million for the first quarter of the year, compared to €187 million in the first three months of the prior year. Group sales amounted to €3,687 million, with a -5.6% organic

about 2 years ago
Expro finalizes purchase of UK well construction and intervention services provider
Business & Finance

Expro finalizes purchase of UK well construction and intervention services provider

Energy services provider Expro has completed the acquisition of Scotland-based Coretrax, a provider of performance drilling tools and wellbore cleanup, well integrity, and production optimization solutions. The acquisition, from an investment group led by Buckthorn Partners, is expected to enable Ex

about 2 years ago
Shearwater platform in the North Sea; Source: Shell
Business & Finance

Stake in Shell’s UK gas field enables Norwegian player to bolster North Sea portfolio

DNO has enriched its North Sea portfolio with a new addition, thanks to the acquisition of an interest in a Shell-operated gas field.

about 2 years ago
Ross Offshore CEO Jørgen Jørgensen; Source: Ross Offshore
Business & Finance

ABL acquires compatriot energy player in bid to strengthen position in oil & gas markets

ABL Group has inked a deal to buy Norway’s Ross Offshore from Moreld Group to expand its oil, gas, and renewables portfolios.

about 2 years ago
Hejre jacket; Credit: INEOS
Business & Finance

Another contractor gets FEED deal for North Sea gas platform

Kent has landed a front end engineering design (FEED) contract for a high-pressure, high-temperature (HP/HT) gas production platform in the North Sea off the coast of Denmark.

about 2 years ago
Jan De Nul continues net debt-free streak, starts 2024 with €8.9B order book
Business & Finance

Jan De Nul continues net debt-free streak, starts 2024 with €8.9B order book

Jan De Nul Group has started 2024 with an order book of €8.9 billion, an increase of 38% compared to last year. In its latest financial report, the Belgian company said it had far exceeded its expectations for 2023 and has been net debt-free for the tenth year in a row. In 2023, Jan De Nul reported

about 2 years ago
Source: Orbital Marine Power
Business & Finance

Orbital Marine Power partners with Global Energy Group for Orkney tidal projects

Scotland-based renewable energy company Orbital Marine Power has picked Global Energy Group as a supplier to lead the manufacture and assembly of turbines for the company’s Orkney projects which have won contracts under the UK Government’s Contract for Difference (CfD) auction rounds 4 and 5.

about 2 years ago
Reach Subsea achieves record order backlog as it pursues 'large untapped potential' within group
Business & Finance

Record order backlog for Reach Subsea as it pursues ‘large untapped potential’ within group

Norway’s Reach Subsea has reported record financial results for the first three months of 2024 with the order backlog reaching NOK 1.3 billion (about €111.5 million), a 60% increase compared to the first quarter of 2023. Revenue for Q1 2024 was NOK 575.3 million, a 146% increase compared to NOK 234

about 2 years ago
Deepsea Nordkapp rig; Source: Odfjell Drilling
Business & Finance

Aker BP preparing to spin the drill bit in Norwegian Sea

Aker BP has secured a green light to use one of Odfjell Drilling’s semi-submersible rigs for exploration activities in the Norwegian Sea.

about 2 years ago
Illustration; Source: Energy Maritime Associates (EMA)
Business & Finance

‘Large’ orders for floating production systems coming soon

The floating production systems construction market remains a key bright spot in the offshore marketplace, according to Energy Maritime Associates (EMA).

about 2 years ago
NKT performs remediation work at 12-year-old Irish Sea interconnector
Business & Finance

NKT performs remediation work at 12-year-old Irish Sea interconnector

Denmark’s NKT has completed inspection survey and remediation work on an interconnector that has been linking the electricity transmission grids of Ireland and Great Britain for twelve years. The specialized inspection and remediation work on the East West HVDC interconnector (EWIC) allows the owner

about 2 years ago
Heidrun field on Haltenbanken in the Norwegian Sea; Source: Harald Pettersen/Equinor
Business & Finance

Equinor and Petoro swap assets in Norwegian waters

Equinor has struck a value-neutral asset swap deal with Petoro, a compatriot player, to harmonize equity interests on the Norwegian Continental Shelf (NCS).

about 2 years ago