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Business & Finance

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Equinor exits Azerbaijan
Business & Finance

Equinor exits Azerbaijan

Equinor has signed an agreement with State Oil Company of Azerbaijan Republic (SOCAR) to divest all its remaining assets in Azerbaijan where it has been present since 1992. The assets comprise a 7.27% non-operated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the

about 2 years ago
LNG carrier
Business & Finance

Capital Product Partners seals $3.1 billion acquisition of 11 LNG carriers amid strategic transformation

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After its recently announced pivot towards the LNG shipping sector, New York-listed shipowner Capital Product Partners L.P. has closed the umbrella agreement initiated last November, paving the way for the acquisition of 11 newbuild liquefied natural gas carrier vessels. As reported by Offshore Ener

about 2 years ago
MAN ES compressors to replace another OEM's units at Equinor's platform
Business & Finance

MAN ES compressors to replace another OEM’s units at Equinor’s platform

Norwegian state-owned energy giant Equinor has selected MAN Energy Solutions to deliver compressor bundles that will replace units from another original equipment manufacturer (OEM) at a platform offshore Norway. MAN Energy Solutions will deliver a total of three compressor bundles and an additional

about 2 years ago
SEFE and Equinor forge gas and hydrogen ties
Business & Finance

SEFE and Equinor forge gas and hydrogen ties

German Securing Energy for Europe (SEFE) and Norway’s energy major Equinor have signed a long-term gas sales agreement, as well as a non-binding letter of intent (LoI) on large-scale hydrogen supplies. Under the gas sales agreement, Equinor will supply SEFE with 111 TWh (circa 10 bcm) of natural gas

about 2 years ago
Courtesy of Harbour Energy
Business & Finance

Harbour Energy getting its hands on Wintershall Dea’s E&P portfolio, bar Russian one, for $11.2 billion

Harbour Energy has the wheels into motion to acquire all of Wintershall Dea’s assets, aside from the ones in Russia, for $11.2 billion.

about 2 years ago
Butting
Business & Finance

MAN ES: World’s 1st SCR for ammonia engine tested

MAN Energy Solutions, in collaboration with Germany-based stainless-steel processor BUTTING, has revealed that the world’s first selective catalytic reduction (SCR) converter intended for an ammonia engine has passed its factory acceptance test. Measuring an impressive 3.9 meters in diameter and boa

about 2 years ago
Vertical lay-up machine ordered for Taiwan’s first subsea power cable factory
Business & Finance

Vertical lay-up machine ordered for Taiwan’s first subsea power cable factory

Norway’s PASSER Group has secured a contract to deliver a vertical lay-up machine (VLM) for the first-ever subsea power cable factory in Taiwan. PASSER Products announced it had been awarded the contract for the delivery of the VLM to the new factory in Kaohsiung. The factory, which will specialize

about 2 years ago
Vard Prysmian CLV
Business & Finance

Prysmian to add two more vessels to its CLV fleet

Italy-based Prysmian Group is investing approximately €350 million for two new cable-laying vessels (CLVs) that it says will reinforce its submarine project execution capabilities. “The market is tremendously growing, and we are facing an increasing demand for submarine cable systems for interconnec

about 2 years ago
Courtesy of the European Commission; Credit: Mauro Bottaro
Business & Finance

Germany first beneficiary of European Hydrogen Bank’s financing scheme

Germany will be the first member state to take part in the new EU mechanism ‘Auctions-as-a-service’ of the European Hydrogen Bank, with the federal government providing an additional €350 million for electrolyzer projects in Germany. These are in addition to the €800 million that the EU Innovation F

about 2 years ago
€15M boost to help SolarDuck deliver its first commercial floating solar projects
Business & Finance

€15M boost to help SolarDuck deliver its first commercial floating solar projects

Dutch-Norwegian company SolarDuck has secured €15 million in funding for the further development and deployment of offshore floating solar power technology. According to SolarDuck, this funding sets the company on a path of continued growth, to deliver its first commercial projects and increase its

about 2 years ago
Fugro embarks on another task to convert PSVs into geotechnical vessels
Business & Finance

Fugro embarks on another task to convert PSVs into geotechnical vessels

Fugro is planning to repurpose two platform supply vessels (PSVs) into geotechnical vessels. This news comes as the Dutch company is currently in the process of repurposing two other PSVs into geotechnical vessels. Fugro announced it had reached an agreement to acquire the Wartsila-designed Sea Gold

about 2 years ago
Uniper looking into Provaris’ compressed hydrogen carriers for hydrogen import
Business & Finance

Uniper looking into Provaris’ compressed hydrogen carriers for hydrogen import

Australia-based developer of green hydrogen projects Provaris Energy has signed a non-binding memorandum of understanding (MoU) with German energy company Uniper to evaluate the supply of green hydrogen to Germany using Provaris’ compressed hydrogen carriers. Under the MoU, Provaris and Uniper will

about 2 years ago
Island Constructor to pick up next-gen subsea equipment
Business & Finance

Island Constructor to pick up next-gen subsea equipment

Island Offshore’s subsea vessel Island Constructor is set to pick up new, next-generation subsea equipment after it completes an assignment in January. Island Constructor, build 279 from Ulstein Verft, will return to the yard in January for a service assignment. The vessel will finish a well service

about 2 years ago
'Significant milestone' as DOF performs offshore ROV mission piloted from onshore
Business & Finance

‘Significant milestone’ as DOF performs offshore ROV mission piloted from onshore

Norway’s DOF has performed its first-ever offshore ROV mission piloted from onshore, an operation that the company sees as a significant milestone. “I’m enthusiastic about the successful implementation of ROV remote operations and the positive impact this will have on our company’s future. Going for

about 2 years ago