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Business & Finance

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Following work for Shell, Argeo subsea vessel going to Indian Ocean
Business & Finance

Following work for Shell, Argeo subsea vessel going to Indian Ocean

Argeo’s subsea vessel Argeo Searcher has completed a job in Nigeria for Shell and is now set to mobilize for work in the Indian Ocean. In its most recent vessel schedule, Argeo reported that its backlog update was currently running at around NOK 550 million (over $52.3 million), with a further sales

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

Hit-and-miss in North Sea: Aker BP finds more black gold in one well but bites the dust in another

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Aker BP and Equinor have found more oil in one well drilled in the North Sea, using Odfjell Drilling’s semi-submersible rig.

about 2 years ago
Scottish high-voltage cable factory plan approved
Business & Finance

Scottish high-voltage cable factory plan approved

Japan-headquartered Sumitomo Electric Industries has received approval for its plans to establish a power cable factory in Scotland. The Highland Council’s north planning applications committee approved the planning permission for the new high-voltage cable factory near Inverness last week. The deve

about 2 years ago
Toyota’s growth fund invests in Corvus Energy to boost hydrogen fuel cell development
Business & Finance

Toyota’s growth fund invests in Corvus Energy to boost hydrogen fuel cell development

Corvus Energy, a supplier of zero-emissions energy solutions or maritime, offshore, and port applications, has secured an investment from Woven Capital, Toyota’s growth fund, to speed up the development of its battery storage and hydrogen fuel cells and expand its geographical footprint. Corvus and

about 2 years ago
Reach Subsea secures new contract in North Sea
Business & Finance

Reach Subsea gets more work in North Sea and Americas amid growing demand

Reach Subsea has increased its order backlog by securing new contracts, extending existing ones, and receiving call-offs within current frame agreements in the North Sea and the Americas region. Reach Subsea has landed contracts worth more than NOK 570 million (around $55 million), mainly starting i

about 2 years ago
Tyra II; Source: BlueNord
Business & Finance

TotalEnergies’ giant natural gas field in North Sea on track to come online this spring

TotalEnergies is getting ready to bring on stream the Tyra II redevelopment project in the Danish sector of the North Sea in March 2024.

about 2 years ago
FPSO Western Isles; Source: Jersey Oil & Gas
Business & Finance

Norwegian player carves away FPSO segment from renewables business

Magnora is setting apart its FPSO segment from the renewables business, splitting them apart due to the considerable growth in profits from renewables.

about 2 years ago
Recently, Seaturns launched a wave energy demonstrator offshore France, at Ifremer’s sea trials site in Sainte-Anne du Portzic, near Brest.
Business & Finance

Fugro’s PSV becomes geotechnical survey vessel at Ulstein Verft

Ulstein Verft has completed the conversion of a 2015-built platform supply vessel (PSV) into a geotechnical survey vessel for Fugro, representing one out of two vessel transformation tasks it has on its to-do list. Ulstein Verft finished the conversion of the Fugro Resilience at the end of 2023, on

about 2 years ago
Mitsubishi HC Capital to acquire 20% stake in European Energy
Business & Finance

Mitsubishi HC Capital to acquire 20% stake in European Energy

Denmark’s European Energy and Japan’s Mitsubishi HC Capital have entered into an agreement in which Mitsubishi will acquire a 20% stake in European Energy. Specifically, Mitsubishi HC Capital will subscribe to approximately 72 million new shares in European Energy, and additionally, will purchase ar

about 2 years ago
CIP launches new company for energy island development
Business & Finance

CIP launches new company for energy island development

Denmark’s Copenhagen Infrastructure Partners (CIP) will launch a new company dedicated to developing energy islands globally with backing from Nordic, European, and North American investors. Named Copenhagen Energy Islands (CEI), the new company will build on CIP’s long-standing experience within of

about 2 years ago
Noble Resilient (former Maersk Resilient) harsh-environment jack-up rig was used to spud the Pensacola well; Source: Maersk Drilling
Business & Finance

Shell’s North Sea gas discovery seen as ‘regionally significant hydrocarbon accumulation’

A recent competent person’s report (CPR) of Shell’s North Sea discovery has illustrated the commercial potential of the discovery.

about 2 years ago
Samsung C&T orders €5 million electrolyser equipment from Nel
Business & Finance

Samsung C&T orders €5 million electrolyser equipment from Nel

Nel Hydrogen Electrolyser, a subsidiary of Nel ASA, has signed a contract for 10 MW of alkaline electrolyser equipment for about €5 million with Samsung C&T Corporation Engineering & Construction Group for the latter’s first off-grid green hydrogen production project to be deployed in South Korea. N

about 2 years ago
Flex LNG bags charter extension for Flex Resolute with ‘super major’
Business & Finance

Flex LNG bags charter extension for Flex Resolute with ‘super major’

LNG shipping company Flex LNG has secured an extension of the charter of its LNG carrier Flex Resolute that will keep the vessel on a fixed-hire contract until at least the first quarter of 2027. The 2020-built Flex Resolute was fixed on a three-year time charter on November 1, 2021, with the commen

about 2 years ago
Malta greenlights second interconnector to Italy
Business & Finance

Malta greenlights second interconnector to Italy

The second Malta to Italy interconnector has reached a major milestone with the approval of the development permit by the Maltese Planning Authority. The IC2 interconnector will consist of a new ~118-kilometer-long 225 MW HVAC electrical cable interconnection through a submarine cable operating at 2

about 2 years ago