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Business & Finance

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Argeo granted patent for electromagnetic sensor system
Business & Finance

Argeo granted patent for ‘innovative’ sensor configuration for subsea vehicles

Argeo has secured its fifth patent from the Norwegian Industrial Patent office, this time for an innovative sensor configuration for subsea vehicles said to provide higher reliability, better signal, and improved detection. Argeo reported that its wholly-owned subsidiary Argeo Robotics had been gran

about 2 years ago
Illustration; Courtesy of Shell
Business & Finance

Shell collects $7.7 billion in profit against backdrop of lower energy prices

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Shell has made strides in the pursuit of its strategy, which aims to bring more energy to the fore with a reduced emissions footprint.

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

New task for Odfjell Drilling related to rig non-conformities stemming from emergency preparedness management

Odfjell Drilling has been asked to handle the identified non-conformities and improvement points regarding emergency preparedness management at a semi-submersible rig, which is working on the Norwegian Continental Shelf (NCS).

about 2 years ago
Kraken gathers $11 million in new contracts since beginning of 2024
Business & Finance

Kraken gathers $11 million in new contracts since beginning of 2024

Kraken Robotics has reported a “strong start” to 2024 for its Service business with $11 million of new contracts secured since the beginning of the year. The contracts, all set to be completed within this year, come in addition to $4 million of survey contracts for KATFISH and magnetometer surveys t

about 2 years ago
Illustration; Credit: Morten Berentsen/Equinor
Business & Finance

Norway’s oil & gas production beats forecasts

Norway recorded a slight rise in oil and gas production in March 2023 compared to the Norwegian Offshore Directorate’s predictions.

about 2 years ago
Balmoral - Hornsea 3
Business & Finance

Ørsted selects Balmoral to shield Hornsea 3 cables

Balmoral Comtec, a Balmoral Group company, has been awarded a multi-billion-pound contract for the supply of cable protection systems for Ørsted’s Hornsea 3 offshore wind farm in the UK. The scope of work includes design engineering which will take place at Balmoral Comtec’s Aberdeen facility, suppl

about 2 years ago
Greece and Saudi Arabia to launch studies for potential electricity interconnector
Business & Finance

Greece and Saudi Arabia to launch studies for potential electricity interconnector

Greek electricity grid operator Independent Power Transmission Operator (IPTO or Admie) and Saudi Arabia’s National Grid Saudi Electricity Company have decided to kick off technical and economic studies for an electricity interconnector between the two countries. The launch of the technical and econ

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

Equinor gets more info on oil discovery to gauge development option

Equinor has wrapped up drilling activities at an appraisal well in the Barents Sea off the coast of Norway with one of Odfjell Drilling’s rigs.

about 2 years ago
Valaris DS-9 drillship; Source: Valaris
Business & Finance

New rig deals lift Valaris’ contract backlog to $4 billion

Valaris has expanded its contract backlog, thanks to a series of new contract awards and extensions with multiple oil and gas companies.

about 2 years ago
Danish wave energy firm launches crowdfunding campaign, aims to raise up to €1.5M
Business & Finance

Danish wave energy firm launches crowdfunding campaign, aims to raise up to €1.5M

Danish company Wavepiston has launched a crowdfunding campaign with the ambition of raising up to €1.5 million that will be used for its wave energy technology. The €1.5 million expected to be raised in 2024 will be instrumental in further demonstrating and commercializing the wave energy technology

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

More time in UK for Archer thanks to $40 million extension deal

Oil services company Archer has landed a two-year contract extension for platform drilling services with an undisclosed company in the UK.

about 2 years ago
Illustration; Credit: Manfred Jarisch/Equinor
Business & Finance

Equinor sees downturn in oil & gas workers’ injury frequency

Equinor has provided safety results for the first quarter of 2024, reporting no serious well control incidents.

about 2 years ago
PXGEO buys UK subsea services company
Business & Finance

PXGEO buys UK subsea services company

Marine geophysical service provider PXGEO has acquired UK-based subsea services company Modus Subsea Services, boosting its autonomous subsea offering. Modus Subsea Services provides offshore life-of-field support services specializing in autonomous subsea operations using underwater intervention dr

about 2 years ago
Deepwater Titan drillship; Source: Transocean
Business & Finance

Transocean anticipates more long-term rig deals over next few months

Transocean is looking forward to securing new assignments for its rig fleet, thanks to the high demand for offshore drilling services on the global oil and gas stage.

about 2 years ago